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2022-03-19

👍🏻

Sea Limited: The Three-Headed Monster

2021-08-31

?

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2021-07-20

Good stuff to read.

Tesla China-Made Car Sales Continue Climb Back Toward Record

2022-03-16

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After-Hours Stock Movers: SentinelOne, Allbirds, Catalyst Biosciences, Iovance Biotherapeutics and More

2022-03-22

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Sorry, the original content has been removed

2022-03-20

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7 Hot Growth Stocks That Are Poised to Triple This Year

2022-03-17

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Wall Street Pares Gains after Fed Hikes Rates, Signals More

2021-07-16

Good read. Thank you

Nasdaq ends lower as investors sell Big Tech

2022-03-23

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Sorry, the original content has been removed

2021-07-17

There should be nothing to fear. Ups and downs.

Don't Fear A Stock Market Crash

2021-07-15

nice one

'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager

2022-03-18

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Sorry, the original content has been removed

2021-07-18

Good read as usual ??

US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week

2021-07-15

Good read. Thank you

'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager

2021-07-15

wow

'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager

2021-07-14

nice one

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2021-07-14

nice

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2021-07-14

wow

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2021-07-14

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2021-07-14

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Go to Tiger App to see more news

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Invest $100,000 in Any of These 3 Stocks and Wait A Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=1150453839","media":"Motley Fool","summary":"Younger investors saving for retirement have one significant advantage -- the ability to take on mor","content":"<html><head></head><body><p>Younger investors saving for retirement have one significant advantage -- the ability to take on more risk. Because they have a longer investment time horizon, they can afford to take chances on great stocks offering a high potential for long-term returns than older investors who are looking to buy stocks that are safer but invariably offer lower potential returns.</p><p>Fortunately, many promising tech stocks hold the potential to increase their value by tenfold over time. Investors hoping to turn $100,000 into $1 million over the next 10 years could see such potential returns in <b>Block</b>, <b>DigitalOcean</b>, and <b>Roku</b>.</p><p>1. Block</p><p>Block has placed itself at the center of fintech in many developed countries. Its business-oriented Square ecosystem and its Cash App continue to grow by expanding into new markets and broadening its scope of business within existing countries.</p><p>Block just entered its eighth country early this year by bringing its ecosystem into Spain. Now, due to its presence in three EU countries, the company once known as Square has an easier path to serving the rest of the Eurozone.</p><p>Moreover, it added cryptocurrency capabilities with its <b>Bitcoin</b> trading platform in both Square and Cash App. This likely helped it almost catch up to <b>PayPal Holdings</b>&#39; Venmo in terms of popularity. Also, according to Research and Markets, the addressable market for fintech is expected to reach $31.5 trillion by 2026, a 27% compound annual growth rate (CAGR) that should bring opportunities for lots of companies in this sector, including Square.</p><p>Block increased its 2021 revenue by 86% compared with 2020, 57% if excluding Bitcoin. This led to adjusted earnings of $898 million in the same period, 111% higher than year-ago levels. Analysts only expect 7% revenue growth in 2022 before it rebounds to 22% the next year.</p><p>Still, the stock has lost more than half of its value since its peak last summer. With a price-to-sales (P/S) ratio of about 4, it has fallen from the double-digit sales multiples of early last year. This makes it more reasonably priced as Block seeks to meet the financial needs of more businesses and individuals.</p><p>2. DigitalOcean</p><p>At first glance, companies such as <b>Amazon</b> and <b>Microsoft</b> dominate the cloud industry and cater their services to lots of big names. However, their product offerings are not really catered to the specific needs of small- and medium-sized enterprises (SMEs). DigitalOcean has built a high-growth enterprise by filling that gap. But while it offers simple, affordable pricing plans tailored to the needs of SMEs, its most vital advantage seems to lie in its community. Members of this community give and receive advice, helping these businesses resolve IT challenges that might otherwise hamper smaller enterprises.</p><p>Also, DigitalOcean already claims about 600,000 customers in 185 countries. and the cloud market should also leave plenty of room for company growth. Grand View Research estimates the cloud infrastructure market will grow to $1.55 trillion by 2030, up from $484 billion today.</p><p>DigitalOcean&#39;s 2021 revenue of $429 million makes up only a tiny fraction of that addressable market, though that was a 35% increase compared with 2020. Moreover, it cut its yearly loss to about $20 million, down from $44 million in 2020. Furthermore, revenue estimates for between $564 million and $568 million amount to 32% growth if the estimate holds, pointing to little if any slowdowns.</p><p>Additionally, the stock has dropped 55% from its November high, taking its P/S ratio down to around 13. While this is higher than its larger competitors, a lower stock price and rapid revenue growth rate should take this stock much higher as the need for the cloud within SMEs continues to expand.</p><p>3. Roku</p><p>Roku has managed to capitalize on the transition of televised media to streaming. Through its aggregation of services and the offering of its Roku platform and channel, it provides an avenue by which companies can fund programming through advertising.</p><p>Furthermore, Roku continues its expansion into Europe and Latin America, giving it leverage as companies like <b>Alphabet</b> attempt to compete. Additionally, the company has integrated its operating system into new televisions and offered its equipment at a low cost, easing the adoption of its platform.</p><p>Roku claimed about 60 million users as of the end of 2021. Also, Research and Markets forecasts that the global digital advertising market will grow to $764 billion by 2025 and to $1.45 trillion by 2030 for a CAGR of 13.7%. Roku appears well-positioned to capture much of this increase as it currently only operates in roughly 20 countries and has plans for further expansion.</p><p>So far, Roku has barely begun to scratch the surface of its potential. In 2021, it generated almost $2.8 billion in revenue, 55% more than in 2020. The revenue growth helped the company earn $242 million in net income, an improvement from the $18 million loss in 2020.</p><p>Admittedly, the first-quarter outlook for 25% year-over-year revenue growth represents a slowdown. Still, the stock has fallen by about 75% from its high last July. Also, the P/S ratio now stands at six, down from 33 last February. These factors should more than price in the revenue growth slowdown into the stock, making Roku stock a buy now.</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>Want $1 Million In Retirement? Invest $100,000 in Any of These 3 Stocks and Wait A Decade</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\">\nWant $1 Million In Retirement? Invest $100,000 in Any of These 3 Stocks and Wait A Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-22 23:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/03/21/1-million-retirement-invest-100000-3-stocks/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Younger investors saving for retirement have one significant advantage -- the ability to take on more risk. Because they have a longer investment time horizon, they can afford to take chances on great...</p>\n\n<a href=\"https://www.fool.com/investing/2022/03/21/1-million-retirement-invest-100000-3-stocks/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOCN":"DigitalOcean Holdings, Inc.","ROKU":"Roku Inc","SQ":"Block"},"source_url":"https://www.fool.com/investing/2022/03/21/1-million-retirement-invest-100000-3-stocks/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150453839","content_text":"Younger investors saving for retirement have one significant advantage -- the ability to take on more risk. Because they have a longer investment time horizon, they can afford to take chances on great stocks offering a high potential for long-term returns than older investors who are looking to buy stocks that are safer but invariably offer lower potential returns.Fortunately, many promising tech stocks hold the potential to increase their value by tenfold over time. Investors hoping to turn $100,000 into $1 million over the next 10 years could see such potential returns in Block, DigitalOcean, and Roku.1. BlockBlock has placed itself at the center of fintech in many developed countries. Its business-oriented Square ecosystem and its Cash App continue to grow by expanding into new markets and broadening its scope of business within existing countries.Block just entered its eighth country early this year by bringing its ecosystem into Spain. Now, due to its presence in three EU countries, the company once known as Square has an easier path to serving the rest of the Eurozone.Moreover, it added cryptocurrency capabilities with its Bitcoin trading platform in both Square and Cash App. This likely helped it almost catch up to PayPal Holdings' Venmo in terms of popularity. Also, according to Research and Markets, the addressable market for fintech is expected to reach $31.5 trillion by 2026, a 27% compound annual growth rate (CAGR) that should bring opportunities for lots of companies in this sector, including Square.Block increased its 2021 revenue by 86% compared with 2020, 57% if excluding Bitcoin. This led to adjusted earnings of $898 million in the same period, 111% higher than year-ago levels. Analysts only expect 7% revenue growth in 2022 before it rebounds to 22% the next year.Still, the stock has lost more than half of its value since its peak last summer. With a price-to-sales (P/S) ratio of about 4, it has fallen from the double-digit sales multiples of early last year. This makes it more reasonably priced as Block seeks to meet the financial needs of more businesses and individuals.2. DigitalOceanAt first glance, companies such as Amazon and Microsoft dominate the cloud industry and cater their services to lots of big names. However, their product offerings are not really catered to the specific needs of small- and medium-sized enterprises (SMEs). DigitalOcean has built a high-growth enterprise by filling that gap. But while it offers simple, affordable pricing plans tailored to the needs of SMEs, its most vital advantage seems to lie in its community. Members of this community give and receive advice, helping these businesses resolve IT challenges that might otherwise hamper smaller enterprises.Also, DigitalOcean already claims about 600,000 customers in 185 countries. and the cloud market should also leave plenty of room for company growth. Grand View Research estimates the cloud infrastructure market will grow to $1.55 trillion by 2030, up from $484 billion today.DigitalOcean's 2021 revenue of $429 million makes up only a tiny fraction of that addressable market, though that was a 35% increase compared with 2020. Moreover, it cut its yearly loss to about $20 million, down from $44 million in 2020. Furthermore, revenue estimates for between $564 million and $568 million amount to 32% growth if the estimate holds, pointing to little if any slowdowns.Additionally, the stock has dropped 55% from its November high, taking its P/S ratio down to around 13. While this is higher than its larger competitors, a lower stock price and rapid revenue growth rate should take this stock much higher as the need for the cloud within SMEs continues to expand.3. RokuRoku has managed to capitalize on the transition of televised media to streaming. Through its aggregation of services and the offering of its Roku platform and channel, it provides an avenue by which companies can fund programming through advertising.Furthermore, Roku continues its expansion into Europe and Latin America, giving it leverage as companies like Alphabet attempt to compete. Additionally, the company has integrated its operating system into new televisions and offered its equipment at a low cost, easing the adoption of its platform.Roku claimed about 60 million users as of the end of 2021. Also, Research and Markets forecasts that the global digital advertising market will grow to $764 billion by 2025 and to $1.45 trillion by 2030 for a CAGR of 13.7%. Roku appears well-positioned to capture much of this increase as it currently only operates in roughly 20 countries and has plans for further expansion.So far, Roku has barely begun to scratch the surface of its potential. In 2021, it generated almost $2.8 billion in revenue, 55% more than in 2020. The revenue growth helped the company earn $242 million in net income, an improvement from the $18 million loss in 2020.Admittedly, the first-quarter outlook for 25% year-over-year revenue growth represents a slowdown. Still, the stock has fallen by about 75% from its high last July. Also, the P/S ratio now stands at six, down from 33 last February. These factors should more than price in the revenue growth slowdown into the stock, making Roku stock a buy now.","news_type":1},"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9034285682,"gmtCreate":1647907248060,"gmtModify":1676534277445,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9034285682","repostId":"1163374302","repostType":4,"repost":{"id":"1163374302","pubTimestamp":1647876673,"share":"https://ttm.financial/m/news/1163374302?lang=&edition=fundamental","pubTime":"2022-03-21 23:31","market":"us","language":"en","title":"Have $500? 2 Absurdly Cheap Stocks Long-Term Investors Should Buy Right Now","url":"https://stock-news.laohu8.com/highlight/detail?id=1163374302","media":"Motley Fool","summary":"It can be a scary time for growth stock investors right now. Some of the most popular (and most prom","content":"<html><head></head><body><p>It can be a scary time for growth stock investors right now. Some of the most popular (and most promising) growth stocks seem to rise and fall by 5% or more every day, and many are 40%, 50%, or more off their highs.</p><p>To be sure,<i>some</i> of the beaten-down growth stocks are lower for a reason. But with others, the recent downturn can be a great opportunity to search for long-term bargains. With that in mind, here are two stocks that look especially appealing at the current prices.</p><p>An e-commerce leader with massive potential</p><p>Since reaching a share price of more than $300 in November, handmade and unique item marketplace <b>Etsy</b> has seen its share price cut in half, despite posting strong results throughout its business.</p><p>Over the past couple of years, the number of active buyers and sellers on Etsy&#39;s platform have both more than doubled, and the number of frequent buyers has more than tripled. And while some of the growth was certainly helped by the COVID-19 pandemic, the numbers continue to trend in the right direction. For example, Etsy&#39;s fourth-quarter merchandise volume was an all-time record for the company, and the average active buyer spent 16% more than in the fourth quarter of 2020.</p><p>Etsy has done a great job of adding value to its namesake platform with things like advanced advertising options and free shipping availability. It has also made several strategic acquisitions that should broaden its user base even further and grow its addressable market opportunity.</p><p>And finally, speaking of Etsy&#39;s addressable market, the company has an estimated $466 billion total addressable market opportunity from online retail sales in its seven core markets around the world, and it has captured less than 3% of that so far.</p><p>A profitable social media company with many ways to grow</p><p>With shares more than 70% below their 52-week high, <b>Pinterest</b> is looking like an absolute steal right now.</p><p>To be sure, there are some valid reasons for Pinterest&#39;s pullback. Specifically, user growth (or lack thereof) is a legitimate concern right now. In the fourth quarter of 2021, Pinterest&#39;s active user base actually declined by 6% year over year. In simple terms, with fewer COVID-19 restrictions, people have less time to browse ideas online than they did a year ago.</p><p>However, the slump in user growth should be temporary, and the company is doing a <i>fantastic</i> job of monetizing its user base. Pinterest&#39;s average revenue per user grew by 23% over the past year, and in the international user base (where 80% of users are), the increase was a staggering 62%. Pinterest&#39;s revenue per user is still a small fraction of other leading social media platforms, and there&#39;s still a <i>big</i> gap between international and domestic monetization, so the company could multiply its revenue several times over even without user growth.</p><p>Be prepared for a wild ride, at least for now</p><p>It&#39;s important to emphasize that I have absolutely no idea what these stocks will do over the next couple of months, or even for the rest of the year. There are simply too many variables, such as inflation, interest rates, and the Ukraine situation, that could put pressure on these and other stocks in the near term. But I&#39;m confident that these are two great businesses that could generate strong returns for investors who measure their returns in five-year periods or more, so if you invest, do so with that in mind.</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>Have $500? 2 Absurdly Cheap Stocks Long-Term Investors Should Buy Right Now</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\">\nHave $500? 2 Absurdly Cheap Stocks Long-Term Investors Should Buy Right Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-21 23:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/03/20/have-500-2-absurdly-cheap-stocks-long-term-investo/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It can be a scary time for growth stock investors right now. Some of the most popular (and most promising) growth stocks seem to rise and fall by 5% or more every day, and many are 40%, 50%, or more ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/03/20/have-500-2-absurdly-cheap-stocks-long-term-investo/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PINS":"Pinterest, Inc.","ETSY":"Etsy, Inc."},"source_url":"https://www.fool.com/investing/2022/03/20/have-500-2-absurdly-cheap-stocks-long-term-investo/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163374302","content_text":"It can be a scary time for growth stock investors right now. Some of the most popular (and most promising) growth stocks seem to rise and fall by 5% or more every day, and many are 40%, 50%, or more off their highs.To be sure,some of the beaten-down growth stocks are lower for a reason. But with others, the recent downturn can be a great opportunity to search for long-term bargains. With that in mind, here are two stocks that look especially appealing at the current prices.An e-commerce leader with massive potentialSince reaching a share price of more than $300 in November, handmade and unique item marketplace Etsy has seen its share price cut in half, despite posting strong results throughout its business.Over the past couple of years, the number of active buyers and sellers on Etsy's platform have both more than doubled, and the number of frequent buyers has more than tripled. And while some of the growth was certainly helped by the COVID-19 pandemic, the numbers continue to trend in the right direction. For example, Etsy's fourth-quarter merchandise volume was an all-time record for the company, and the average active buyer spent 16% more than in the fourth quarter of 2020.Etsy has done a great job of adding value to its namesake platform with things like advanced advertising options and free shipping availability. It has also made several strategic acquisitions that should broaden its user base even further and grow its addressable market opportunity.And finally, speaking of Etsy's addressable market, the company has an estimated $466 billion total addressable market opportunity from online retail sales in its seven core markets around the world, and it has captured less than 3% of that so far.A profitable social media company with many ways to growWith shares more than 70% below their 52-week high, Pinterest is looking like an absolute steal right now.To be sure, there are some valid reasons for Pinterest's pullback. Specifically, user growth (or lack thereof) is a legitimate concern right now. In the fourth quarter of 2021, Pinterest's active user base actually declined by 6% year over year. In simple terms, with fewer COVID-19 restrictions, people have less time to browse ideas online than they did a year ago.However, the slump in user growth should be temporary, and the company is doing a fantastic job of monetizing its user base. Pinterest's average revenue per user grew by 23% over the past year, and in the international user base (where 80% of users are), the increase was a staggering 62%. Pinterest's revenue per user is still a small fraction of other leading social media platforms, and there's still a big gap between international and domestic monetization, so the company could multiply its revenue several times over even without user growth.Be prepared for a wild ride, at least for nowIt's important to emphasize that I have absolutely no idea what these stocks will do over the next couple of months, or even for the rest of the year. There are simply too many variables, such as inflation, interest rates, and the Ukraine situation, that could put pressure on these and other stocks in the near term. But I'm confident that these are two great businesses that could generate strong returns for investors who measure their returns in five-year periods or more, so if you invest, do so with that in mind.","news_type":1},"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9034024927,"gmtCreate":1647739212320,"gmtModify":1676534261620,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9034024927","repostId":"1141629779","repostType":4,"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035795672,"gmtCreate":1647671367420,"gmtModify":1676534257829,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035795672","repostId":"2220777059","repostType":4,"repost":{"id":"2220777059","pubTimestamp":1647653153,"share":"https://ttm.financial/m/news/2220777059?lang=&edition=fundamental","pubTime":"2022-03-19 09:25","market":"us","language":"en","title":"Sea Limited: The Three-Headed Monster","url":"https://stock-news.laohu8.com/highlight/detail?id=2220777059","media":"seekingalpha","summary":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but B","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Garena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.</li><li>In addition, Shopee&#39;s losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.</li><li>SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea&#39;s second cash cow.</li><li>With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion.</li><li>Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51b3290f2015840c5d8f754c01de8a85\" tg-width=\"750\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/><span>undefined undefined/iStock via Getty Images</span></p><p>I&#39;ve been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I&#39;m doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let&#39;s get started!</p><p><b>Investment Thesis</b></p><p>Sea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company&#39;s slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee&#39;s losses are also getting worse.</p><p>The Group&#39;s cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.</p><p>On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea&#39;s second cash cow.</p><p>Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.</p><p>The three-headed monster is a Buy at these levels.</p><p><b>Value Proposition</b></p><p>Founded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.</p><blockquote><b>Mission</b>: To better the lives of consumers and small businesses with technology.</blockquote><p>Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea&#39;s main value proposition is providing a vertically-integrated experience through its different core businesses.</p><p><b>Garena</b></p><p>Its digital entertainment division, Garena, was Sea&#39;s first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.</p><p>Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena&#39;s Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor <a href=\"https://laohu8.com/S/TWR.AU\">Tower</a>&#39;s findings, Free Fire still holds the most downloads globally as of January 2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fa392753c19f14d60ee0d992e58c3d2f\" tg-width=\"1280\" tg-height=\"741\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>Garena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.</p><p>In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.</p><p><b>Shopee</b></p><p>Perhaps the most exciting business segment is Sea&#39;s mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6649de846b2942b928a3f3e5d4035003\" tg-width=\"640\" tg-height=\"200\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee</span></p><p>Through the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee&#39;s two premium shopping platforms, Shopee Mall and Shopee Premium.</p><p>Along with Shopee&#39;s e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:</p><ul><li><b>Service by Shopee</b> - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.</li><li><b>BuyerProtection</b> - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers&#39; funds in a separate account until delivery is complete, where funds will be released to buyers.</li><li><b>Integrated Logistics Services</b>- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.</li><li><b>Social Features</b> - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).</li><li><b>On-demand Services</b>- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).</li></ul><p>Shopee&#39;s scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee&#39;s most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f9c550b140720336e00cc78e954d184\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p><b>SeaMoney</b></p><p>SeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea&#39;s operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney&#39;s various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.</p><p>Through SeaMoney&#39;s mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a &#34;buy now pay later&#34; payment option, enables consumers to purchase items without accessing credit. For those who are interested, I&#39;ve written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.</p><p>SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c85c862195f86fe9d4f0f8c8beced6b\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SeaBank Website</span></p><p>SeaMoney&#39;s main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea&#39;s other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.</p><p><b>Market Opportunity</b></p><p>Sea&#39;s market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let&#39;s take a look at each industry that Sea operates in.</p><p>First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f72bda6df6bc2b7bdf8756d218f53185\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>According to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021&#39;s total figure. Given Garena&#39;s successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity&#39;s findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.</p><p>Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.</p><p>Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee&#39;s vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fcb903aed7c0ec901fc83c4f25f18b8\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.</p><p>Lastly, we have the fintech industry pertaining to SeaMoney. In my <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea&#39;s markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47ec896a6208b6023ae89f654704bbc7\" tg-width=\"1261\" tg-height=\"706\" referrerpolicy=\"no-referrer\"/><span>Source: Ark Invest Big Ideas 2022</span></p><p>As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney&#39;s other brands will benefit from this trend. Also of important note, SeaMoney&#39;s expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0eb814b800c3121e3fb8cd0913f239d5\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.</p><p><b>Revenue Model</b></p><p>As mentioned previously, Sea operates three main business segments.</p><p><b>Digital Entertainment</b></p><p>Garena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.</p><p>Investors should take note of how revenue is recognized for this segment. According to Sea&#39;s 10-K:</p><blockquote>Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.</blockquote><p>Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.</p><blockquote>Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.</blockquote><p><b>E-commerce</b></p><p>Shopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.</p><p>Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.</p><p><b>Digital Financial Services</b></p><p>SeaMoney revenue consists of:</p><ul><li>Interest and fees from loans granted to commercial customers</li><li>Interest and fees from Sea&#39;s consumer credit business such as SPayLater</li><li>Commissions charged to merchants when a customer pays using SeaMoney&#39;s mobile wallet</li></ul><p><b>Income Statement</b></p><p>Let&#39;s analyze each of the business segments and then look at the entire Group as a whole.</p><p><b>Digital Entertainment</b></p><p>Garena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/998dfbcf3f3dba11b8f8722710c36ba4\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e06de5e6066b66cd5596a445cd912c98\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3&#39;s QAUs of 729 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5bdd570a9eb859a9fef8569c9fad10a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3&#39;s 93 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/092c4a2f47b9336f2753b4548707b39f\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea&#39;s two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f28c9f35ee55afb5c7d170a80d26ebf2\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.</p><p><b>E-Commerce</b></p><p>Shopee GMV continues its upward march as e-commerce continues to gain traction in Shopee&#39;s existing and newer markets. However, we&#39;re also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f657f7cacc9e00bc57df0e913fdb9ae\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>GMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fbc7f044de03ec379f262a5bfcdf331\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27710dc2140a6d139900819f51bd688a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The faster growth in Revenue was due to Shopee&#39;s increasing take rate, which displays Shopee&#39;s ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e4267bc5d33a2153e8624f73ed71540\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Despite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d27cef61bc9a9058233f7eccc5eaa1\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c0d6aa930a81ea4fc153b7134dbf9d3\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>On the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before &#34;allocation of the headquarters’ common expenses&#34; was $(0.15), an improvement from last year&#39;s $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:</p><blockquote>We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.</blockquote><p><b>Digital Financial Services</b></p><p>SeaMoney&#39;s Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4fa5ef6efa513d9040963fda42b4b9f2\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9397aec066366f40ec92c24187347a44\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dcaf6046cf3c27e00b233a8428eb2d75\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Furthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.</p><p>As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney&#39;s AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51f0d5a1800fef748694417e8cb8fc9f\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>This is the segment that investors should pay special attention to, given that it has the potential to be Sea&#39;s second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney&#39;s long-term margin profile.</p><p><b>Group</b></p><p>With that said, let&#39;s take a look at how the business is doing as a whole.</p><p>FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38de60bd773f3ef7afc4b2e28aa1c08f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Here, we can see how Revenue is distributed across the different segments.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a86e59478db8a3a4fdc85897f24410e9\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>What&#39;s encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee&#39;s aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd978ba4047cc6e20ac6086ba8420a8f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Operating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbdbde2c2ae744f36f8168ed32f94d62\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Most of the Operating Expenses were used for Sales &amp; Marketing purposes. Unsurprisingly, Shopee had the highest S&amp;M burn rate. Discounts, cashback, celebrity promotions... they&#39;re everywhere.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5253f186120da17c4cd901e5c442bd1e\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Operating Profit Margins is still negative, although it is trending in the right direction.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a27b7833551107397c44acefc5ad2475\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA, on the other hand, is plunging. This is due to Garena&#39;s falling Bookings and Shoppe&#39;s widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d89fb95f74e23e85f8932870c0190bee\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021&#39;s number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.</p><p>On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena&#39;s estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae5e9399a838e5f841dcccaffbe673d8\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Because Garena is such an important piece of Shopee&#39;s and SeaMoney&#39;s growth story, a deceleration in Garena&#39;s business had investors reacting so negatively to Sea&#39;s latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.</p><p><b>Balance Sheet</b></p><p>Sea&#39;s balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dc30ee494abc2eda3b75434b96e4a66b\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Adjusting for Sea&#39;s debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8d3d0030e6518cc4198245f624cc75e1\" tg-width=\"640\" tg-height=\"437\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>With net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.</p><p><b>Cash Flow Statement</b></p><p>Here is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a0aba061277a1410bb9f3dc176ea0115\" tg-width=\"640\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Unlike other high-flying growth companies, Sea&#39;s Share-Based Compensation expenses are relatively low.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81fa229682c8880d6edd35535ef6a747\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p><b>Competitive Moats</b></p><p>Based on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.</p><p><b>Brand</b></p><p>As discussed in previous sections, Garena&#39;s games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.</p><p><b>Network Effects</b></p><p>The sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world&#39;s population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.</p><p>With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c641ac08707cc868b9e6004e2deaf950\" tg-width=\"1200\" tg-height=\"600\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee Brazil</span></p><p><b>Barriers To Entry</b></p><p>I believe each of Sea&#39;s core businesses is operating in a winner-takes-most environment with high barriers to entry.</p><p>The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena&#39;s Free Fire is certainly a blockbuster game and time in Free Fire&#39;s game means time away from other mobile games.</p><p>Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and <a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.</p><p>Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.</p><p><b>Valuation</b></p><p>Based on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f2400cd917e5f6ce8c47ef74a8062093\" tg-width=\"640\" tg-height=\"353\" referrerpolicy=\"no-referrer\"/><span>Source: Author&#39;s Analysis</span></p><p>On the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bed1fd805a89523bbb8fa982bee40079\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>In terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf589a808c84131e9c36aa7b65a5129\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>The valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.</p><p><b>Catalysts</b></p><ul><li><b>Successful International Expansion</b> — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee&#39;s growth could turn exponential.</li><li><b>The Metaverse</b> — Sea&#39;s withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.</li></ul><blockquote>We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.</blockquote><ul><li><b>Regional SuperApp</b> — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.</li><li><b>Continued Growth In SeaMoney</b> — SeaMoney is still in its early stages and continued adoption of Sea&#39;s digital financial services offerings will be a strong addition to Sea&#39;s bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.</li><li><b>Free Fire India Ban Lift</b>— Garena&#39;s weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea&#39;s cash burn problems may be eliminated.</li></ul><p><b>Risks</b></p><ul><li><b>The Pressure to Launch Blockbuster Games</b>— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.</li><li><b>Shopee India Ban</b> — With Free Fire banned in India, there&#39;s also the potential for Shoppe to be banned as well.</li><li><b>Failure to Gain Traction in International Markets</b>— Shopee pulled out of France in early March, an indication that Shoppe&#39;s business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.</li><li><b>Geopolitical Risks</b>— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.</li><li><b>Local Competition</b>— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.</li></ul><p>In addition, there&#39;s a certain level of pride for consumers to see their native-born companies succeed. I&#39;m Indonesian, and it makes me really happy to see GoTo grow and grow.</p><p>GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here&#39;s a glance of GoTo&#39;s stats for the 12-months ended 30 September 2021:</p><ul><li>Valuation: $26.2 billion to $28.8 billion</li><li>GMV: $28.8 billion</li><li>Revenue: $1 billion</li><li>Gross Orders: 2 billion</li><li>Annual Transacting Users: 55 million</li><li>Driver Partners: 2.5 million</li><li>Merchants: 14 million</li></ul><p>The point is that there are big-time local players operating in Sea&#39;s markets that investors should never ignore. Here&#39;s a little snippet from my previous Shopee article:</p><blockquote>But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.</blockquote><blockquote>Meanwhile, Sea Limited&#39;s stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo&#39;s integration, Shopee&#39;s vertically-integrated business model doesn&#39;t look like a strong competitive advantage anymore.</blockquote><p><b>Conclusion</b></p><p>Each of Sea&#39;s core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.</p><p>That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company&#39;s unsustainable cash burn rate, which will likely lead to further capital raises in the near future.</p><p>Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.</p><p>Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don&#39;t hesitate to share your thoughts as well.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: The Three-Headed Monster</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\">\nSea Limited: The Three-Headed Monster\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-19 09:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, ...</p>\n\n<a href=\"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220777059","content_text":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea's second cash cow.With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion.Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.undefined undefined/iStock via Getty ImagesI've been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I'm doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let's get started!Investment ThesisSea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company's slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee's losses are also getting worse.The Group's cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea's second cash cow.Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.The three-headed monster is a Buy at these levels.Value PropositionFounded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.Mission: To better the lives of consumers and small businesses with technology.Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea's main value proposition is providing a vertically-integrated experience through its different core businesses.GarenaIts digital entertainment division, Garena, was Sea's first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena's Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor Tower's findings, Free Fire still holds the most downloads globally as of January 2022.Source: SensorTowerGarena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.ShopeePerhaps the most exciting business segment is Sea's mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.Source: ShopeeThrough the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee's two premium shopping platforms, Shopee Mall and Shopee Premium.Along with Shopee's e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:Service by Shopee - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.BuyerProtection - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers' funds in a separate account until delivery is complete, where funds will be released to buyers.Integrated Logistics Services- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.Social Features - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).On-demand Services- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).Shopee's scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee's most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.Source: SensorTowerSeaMoneySeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea's operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney's various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.Through SeaMoney's mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a \"buy now pay later\" payment option, enables consumers to purchase items without accessing credit. For those who are interested, I've written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.Source: SeaBank WebsiteSeaMoney's main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea's other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.Market OpportunitySea's market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let's take a look at each industry that Sea operates in.First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.Source: SensorTowerAccording to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021's total figure. Given Garena's successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity's findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee's vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.Source: e-Conomy SEA 2021Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.Lastly, we have the fintech industry pertaining to SeaMoney. In my PayPal (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea's markets.Source: Ark Invest Big Ideas 2022As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney's other brands will benefit from this trend. Also of important note, SeaMoney's expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.Source: e-Conomy SEA 2021As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.Revenue ModelAs mentioned previously, Sea operates three main business segments.Digital EntertainmentGarena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.Investors should take note of how revenue is recognized for this segment. According to Sea's 10-K:Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.E-commerceShopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.Digital Financial ServicesSeaMoney revenue consists of:Interest and fees from loans granted to commercial customersInterest and fees from Sea's consumer credit business such as SPayLaterCommissions charged to merchants when a customer pays using SeaMoney's mobile walletIncome StatementLet's analyze each of the business segments and then look at the entire Group as a whole.Digital EntertainmentGarena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.Source: Sea Limited Investor Relations and Author's AnalysisThe rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.Source: Sea Limited Investor Relations and Author's AnalysisThe drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3's QAUs of 729 million.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3's 93 million.Source: Sea Limited Investor Relations and Author's AnalysisThe markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea's two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.Source: Sea Limited Investor Relations and Author's AnalysisAs such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.E-CommerceShopee GMV continues its upward march as e-commerce continues to gain traction in Shopee's existing and newer markets. However, we're also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.Source: Sea Limited Investor Relations and Author's AnalysisGMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.Source: Sea Limited Investor Relations and Author's AnalysisThe increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.Source: Sea Limited Investor Relations and Author's AnalysisThe faster growth in Revenue was due to Shopee's increasing take rate, which displays Shopee's ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.Source: Sea Limited Investor Relations and Author's AnalysisDespite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).Source: Sea Limited Investor Relations and Author's AnalysisOn the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before \"allocation of the headquarters’ common expenses\" was $(0.15), an improvement from last year's $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.Digital Financial ServicesSeaMoney's Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.Source: Sea Limited Investor Relations and Author's AnalysisThe growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.Source: Sea Limited Investor Relations and Author's AnalysisThe real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.Source: Sea Limited Investor Relations and Author's AnalysisFurthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney's AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.Source: Sea Limited Investor Relations and Author's AnalysisThis is the segment that investors should pay special attention to, given that it has the potential to be Sea's second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney's long-term margin profile.GroupWith that said, let's take a look at how the business is doing as a whole.FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.Source: Sea Limited Investor Relations and Author's AnalysisHere, we can see how Revenue is distributed across the different segments.Source: Sea Limited Investor Relations and Author's AnalysisWhat's encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee's aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.Source: Sea Limited Investor Relations and Author's AnalysisOperating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.Source: Sea Limited Investor Relations and Author's AnalysisMost of the Operating Expenses were used for Sales & Marketing purposes. Unsurprisingly, Shopee had the highest S&M burn rate. Discounts, cashback, celebrity promotions... they're everywhere.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Operating Profit Margins is still negative, although it is trending in the right direction.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA, on the other hand, is plunging. This is due to Garena's falling Bookings and Shoppe's widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.Source: Sea Limited Investor Relations and Author's AnalysisThe guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021's number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena's estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.Source: Sea Limited FY2021 Q4 Investor PresentationBecause Garena is such an important piece of Shopee's and SeaMoney's growth story, a deceleration in Garena's business had investors reacting so negatively to Sea's latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.Balance SheetSea's balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.Source: Sea Limited FY2021 Q4 Investor PresentationAdjusting for Sea's debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.Source: Sea Limited Investor Relations and Author's AnalysisWith net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.Cash Flow StatementHere is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.Source: Sea Limited Investor Relations and Author's AnalysisUnlike other high-flying growth companies, Sea's Share-Based Compensation expenses are relatively low.Source: Sea Limited Investor Relations and Author's AnalysisCompetitive MoatsBased on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.BrandAs discussed in previous sections, Garena's games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.Network EffectsThe sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world's population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.Source: Shopee BrazilBarriers To EntryI believe each of Sea's core businesses is operating in a winner-takes-most environment with high barriers to entry.The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena's Free Fire is certainly a blockbuster game and time in Free Fire's game means time away from other mobile games.Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and MercadoLibre (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.ValuationBased on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.Source: Author's AnalysisOn the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.Source: KoyfinIn terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.Source: KoyfinThe valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.CatalystsSuccessful International Expansion — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee's growth could turn exponential.The Metaverse — Sea's withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.Regional SuperApp — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.Continued Growth In SeaMoney — SeaMoney is still in its early stages and continued adoption of Sea's digital financial services offerings will be a strong addition to Sea's bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.Free Fire India Ban Lift— Garena's weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea's cash burn problems may be eliminated.RisksThe Pressure to Launch Blockbuster Games— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.Shopee India Ban — With Free Fire banned in India, there's also the potential for Shoppe to be banned as well.Failure to Gain Traction in International Markets— Shopee pulled out of France in early March, an indication that Shoppe's business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.Geopolitical Risks— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.Local Competition— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.In addition, there's a certain level of pride for consumers to see their native-born companies succeed. I'm Indonesian, and it makes me really happy to see GoTo grow and grow.GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here's a glance of GoTo's stats for the 12-months ended 30 September 2021:Valuation: $26.2 billion to $28.8 billionGMV: $28.8 billionRevenue: $1 billionGross Orders: 2 billionAnnual Transacting Users: 55 millionDriver Partners: 2.5 millionMerchants: 14 millionThe point is that there are big-time local players operating in Sea's markets that investors should never ignore. Here's a little snippet from my previous Shopee article:But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.Meanwhile, Sea Limited's stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo's integration, Shopee's vertically-integrated business model doesn't look like a strong competitive advantage anymore.ConclusionEach of Sea's core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company's unsustainable cash burn rate, which will likely lead to further capital raises in the near future.Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don't hesitate to share your thoughts as well.","news_type":1},"isVote":1,"tweetType":1,"viewCount":539,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035859827,"gmtCreate":1647566966112,"gmtModify":1676534245337,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035859827","repostId":"1155210585","repostType":4,"repost":{"id":"1155210585","pubTimestamp":1647563256,"share":"https://ttm.financial/m/news/1155210585?lang=&edition=fundamental","pubTime":"2022-03-18 08:27","market":"fut","language":"en","title":"Oil Climbs Near $104 After Jumping on Doubts Over Peace Talks","url":"https://stock-news.laohu8.com/highlight/detail?id=1155210585","media":"Bloomberg","summary":"Russia says reports of major progress with Ukraine ‘wrong’WTI futures rise a second day after surgin","content":"<html><head></head><body><ul><li>Russia says reports of major progress with Ukraine ‘wrong’</li><li>WTI futures rise a second day after surging 8.4% on Thursday</li></ul><p>Oil edged higher in Asia after the biggest daily surge in 16 months pushed prices back above $100 a barrel as the Kremlin cast doubt on the progress of peace talks with Ukraine.</p><p>Futures in New York rose to trade near $104 a barrel after jumping 8.4% on Thursday. Crude rallied after the Kremlin said a report of major progress in negotiations over Ukraine was “wrong,” but that discussions will continue. Oil is still set for a second weekly loss after another tumultuous period of trading that’s seen West Texas Intermediate swing over $9 in three sessions.</p><p>The market has been whipsawed by developments surrounding the war and concerns about Covid-19 lockdowns in China, with a liquidity crunch adding to oil’s volatility and leaving prices vulnerable to big swings.Russian crude is still being treated with extreme caution by buyers worried about damage to their reputation or falling foul of sanctions.</p><p><img src=\"https://static.tigerbbs.com/088097c7bba7ed1df6610ff401b7f4e8\" tg-width=\"930\" tg-height=\"523\" width=\"100%\" height=\"auto\"/></p><p>The conflict between Russia and Ukraine has fanned inflation, providing a challenge to central banks and governments as they seek to encourage economic growth after the pandemic. The Federal Reserve this week raised interest rates and signaled further hikes to tackle the fastest price gains in four decades.</p><p>On the supply front, Libya said Wednesday that OPEC should ramp up production faster to ease the energy crisis. Saudi Arabia’s Crown Prince Mohammed bin Salman told the Japanese Prime Minister a day later that the kingdom is keen to maintain the oil market’s balance and stability, state-run SPA reported.</p><p>Global benchmark Brent has swung by more than $5 a barrel for 16 consecutive sessions -- the longest run of such volatility ever. The extent of the liquidation shows up in open interest figures. Holdings for WTI fell to the lowest since 2016, while those for Brent were the lowest since 2015.</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>Oil Climbs Near $104 After Jumping on Doubts Over Peace Talks</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\">\nOil Climbs Near $104 After Jumping on Doubts Over Peace Talks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-18 08:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-03-17/oil-steadies-near-103-after-jumping-on-doubts-over-peace-talks><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Russia says reports of major progress with Ukraine ‘wrong’WTI futures rise a second day after surging 8.4% on ThursdayOil edged higher in Asia after the biggest daily surge in 16 months pushed prices ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-03-17/oil-steadies-near-103-after-jumping-on-doubts-over-peace-talks\">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.bloomberg.com/news/articles/2022-03-17/oil-steadies-near-103-after-jumping-on-doubts-over-peace-talks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155210585","content_text":"Russia says reports of major progress with Ukraine ‘wrong’WTI futures rise a second day after surging 8.4% on ThursdayOil edged higher in Asia after the biggest daily surge in 16 months pushed prices back above $100 a barrel as the Kremlin cast doubt on the progress of peace talks with Ukraine.Futures in New York rose to trade near $104 a barrel after jumping 8.4% on Thursday. Crude rallied after the Kremlin said a report of major progress in negotiations over Ukraine was “wrong,” but that discussions will continue. Oil is still set for a second weekly loss after another tumultuous period of trading that’s seen West Texas Intermediate swing over $9 in three sessions.The market has been whipsawed by developments surrounding the war and concerns about Covid-19 lockdowns in China, with a liquidity crunch adding to oil’s volatility and leaving prices vulnerable to big swings.Russian crude is still being treated with extreme caution by buyers worried about damage to their reputation or falling foul of sanctions.The conflict between Russia and Ukraine has fanned inflation, providing a challenge to central banks and governments as they seek to encourage economic growth after the pandemic. The Federal Reserve this week raised interest rates and signaled further hikes to tackle the fastest price gains in four decades.On the supply front, Libya said Wednesday that OPEC should ramp up production faster to ease the energy crisis. Saudi Arabia’s Crown Prince Mohammed bin Salman told the Japanese Prime Minister a day later that the kingdom is keen to maintain the oil market’s balance and stability, state-run SPA reported.Global benchmark Brent has swung by more than $5 a barrel for 16 consecutive sessions -- the longest run of such volatility ever. The extent of the liquidation shows up in open interest figures. Holdings for WTI fell to the lowest since 2016, while those for Brent were the lowest since 2015.","news_type":1},"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035965033,"gmtCreate":1647487813460,"gmtModify":1676534236733,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035965033","repostId":"2220169793","repostType":4,"repost":{"id":"2220169793","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647471128,"share":"https://ttm.financial/m/news/2220169793?lang=&edition=fundamental","pubTime":"2022-03-17 06:52","market":"us","language":"en","title":"Wall Street Pares Gains after Fed Hikes Rates, Signals More","url":"https://stock-news.laohu8.com/highlight/detail?id=2220169793","media":"Reuters","summary":"* Fed ups rates by 25 basis points, signals 7 hikes for 2022* S&P banks close up 3.7%, financials add 2.9%* Indexes up: Dow 1.55%, S&P 500 2.24%, Nasdaq 3.77%March 16 (Reuters) - The S&P 500closed up ","content":"<html><head></head><body><p>* Fed ups rates by 25 basis points, signals 7 hikes for 2022</p><p>* S&amp;P banks close up 3.7%, financials add 2.9%</p><p>* Indexes up: Dow 1.55%, S&amp;P 500 2.24%, Nasdaq 3.77%</p><p>March 16 (Reuters) - The S&amp;P 500 closed up more than 2% while the Nasdaq rallied almost 4% on Wednesday as investors shrugged off initial jitters following the U.S. Federal Reserve&#39;s interest rate increase and its signal that more hikes would be needed to fight inflation, ending the pandemic-era&#39;s easy monetary policy.</p><p>The central bank announced a quarter-percentage-point increase in its benchmark overnight rate as was widely expected but the projection that its rate would hit between 1.75% and 2% by year&#39;s end was more hawkish than some investors said they had expected.</p><p>While the Fed flagged the massive uncertainty the economy faces from the war between Russia and Ukraine and the ongoing COVID-19 crisis, it said &#34;ongoing increases&#34; in the target federal funds rate &#34;will be appropriate&#34; to curb the highest inflation the country has witnessed in 40 years.</p><p>While the major indexes pared earlier gains sharply and the S&amp;P and the Dow both dipped into the red briefly after the Fed statement, the indexes steadied as Fed chair Jerome Powell spoke at a press conference.</p><p>Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis said investors may be relieved the Fed is taking action against surging inflation.</p><p>&#34;Hearing the Fed finally &#39;say and act&#39; to tackle inflation is somewhat calming for the investment community, and for Main Street struggling with higher inflation,&#34; he said.</p><p>But other market analysts were concerned the aggressive rate hike projected could cause the economy to skid.</p><p>&#34;This looks like a Fed that is intending on causing recession in order to stamp out the inflation problem and that is as short sighted as calling inflation transitory a year ago,” Scott Ladner, chief investment officer, Horizon Investments, Charlotte, North Carolina.</p><p>Joseph LaVorgna, Americas chief economist at Natixis in New York was also skeptical.</p><p>“They’re going to try to be aggressive here in raising rates. I wish Jay Powell and company all the best of luck because they&#39;re not going to get anywhere near as they think, unless they’re willing to throw a lot of people out of jobs, because that&#39;s what&#39;s going to happen.  Because we&#39;re going to have a recession. This is a recession forecast,&#34; he said.</p><p>&#34;I just don&#39;t see the Fed being able to engineer this kind of tightening for what right now is inflationary demand destruction.&#34;</p><p>The Dow Jones Industrial Average rose 518.76 points, or 1.55%, to 34,063.1, the S&amp;P 500 gained 95.41 points, or 2.24%, to 4,357.86 and the Nasdaq Composite added 487.93 points, or 3.77%, to 13,436.55.</p><p>Of the S&amp;P 500&#39;s 11 major industry sectors, the biggest gainers were sectors that had fallen sharply in a recent sell off with consumer discretionary and technology</p><p>both finishing up more than 3% while communications services and financials added almost 3%.</p><p>Only two of the sectors ended the day in the red with energy falling 0.4% and utilities losing 0.2%.</p><p>Historical data suggests tighter monetary policy has often been accompanied by solid gains in stocks. The S&amp;P 500 has returned an average 7.7% in the first year the Fed raises rates, according to a Deutsche Bank study of 13 hiking cycles since 1955.</p><p>Ahead of the Fed statement stocks had been rallying as talk of compromise from both Moscow and Kyiv on a status for Ukraine outside of NATO lifted hope on Wednesday for a potential breakthrough after three weeks of war.</p><p>The global mood had also been lifted earlier by China&#39;s promise to roll out more stimulus for the economy and keep markets stable.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 3.78-to-1 ratio; on Nasdaq, a 3.79-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 15 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 29 new highs and 93 new lows.</p><p>On U.S. exchanges 15.82 billion shares changed hands compared with the 14.04 billion 20-day moving average.</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>Wall Street Pares Gains after Fed Hikes Rates, Signals More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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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\">\nWall Street Pares Gains after Fed Hikes Rates, Signals More\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-17 06:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Fed ups rates by 25 basis points, signals 7 hikes for 2022</p><p>* S&amp;P banks close up 3.7%, financials add 2.9%</p><p>* Indexes up: Dow 1.55%, S&amp;P 500 2.24%, Nasdaq 3.77%</p><p>March 16 (Reuters) - The S&amp;P 500 closed up more than 2% while the Nasdaq rallied almost 4% on Wednesday as investors shrugged off initial jitters following the U.S. Federal Reserve&#39;s interest rate increase and its signal that more hikes would be needed to fight inflation, ending the pandemic-era&#39;s easy monetary policy.</p><p>The central bank announced a quarter-percentage-point increase in its benchmark overnight rate as was widely expected but the projection that its rate would hit between 1.75% and 2% by year&#39;s end was more hawkish than some investors said they had expected.</p><p>While the Fed flagged the massive uncertainty the economy faces from the war between Russia and Ukraine and the ongoing COVID-19 crisis, it said &#34;ongoing increases&#34; in the target federal funds rate &#34;will be appropriate&#34; to curb the highest inflation the country has witnessed in 40 years.</p><p>While the major indexes pared earlier gains sharply and the S&amp;P and the Dow both dipped into the red briefly after the Fed statement, the indexes steadied as Fed chair Jerome Powell spoke at a press conference.</p><p>Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis said investors may be relieved the Fed is taking action against surging inflation.</p><p>&#34;Hearing the Fed finally &#39;say and act&#39; to tackle inflation is somewhat calming for the investment community, and for Main Street struggling with higher inflation,&#34; he said.</p><p>But other market analysts were concerned the aggressive rate hike projected could cause the economy to skid.</p><p>&#34;This looks like a Fed that is intending on causing recession in order to stamp out the inflation problem and that is as short sighted as calling inflation transitory a year ago,” Scott Ladner, chief investment officer, Horizon Investments, Charlotte, North Carolina.</p><p>Joseph LaVorgna, Americas chief economist at Natixis in New York was also skeptical.</p><p>“They’re going to try to be aggressive here in raising rates. I wish Jay Powell and company all the best of luck because they&#39;re not going to get anywhere near as they think, unless they’re willing to throw a lot of people out of jobs, because that&#39;s what&#39;s going to happen.  Because we&#39;re going to have a recession. This is a recession forecast,&#34; he said.</p><p>&#34;I just don&#39;t see the Fed being able to engineer this kind of tightening for what right now is inflationary demand destruction.&#34;</p><p>The Dow Jones Industrial Average rose 518.76 points, or 1.55%, to 34,063.1, the S&amp;P 500 gained 95.41 points, or 2.24%, to 4,357.86 and the Nasdaq Composite added 487.93 points, or 3.77%, to 13,436.55.</p><p>Of the S&amp;P 500&#39;s 11 major industry sectors, the biggest gainers were sectors that had fallen sharply in a recent sell off with consumer discretionary and technology</p><p>both finishing up more than 3% while communications services and financials added almost 3%.</p><p>Only two of the sectors ended the day in the red with energy falling 0.4% and utilities losing 0.2%.</p><p>Historical data suggests tighter monetary policy has often been accompanied by solid gains in stocks. The S&amp;P 500 has returned an average 7.7% in the first year the Fed raises rates, according to a Deutsche Bank study of 13 hiking cycles since 1955.</p><p>Ahead of the Fed statement stocks had been rallying as talk of compromise from both Moscow and Kyiv on a status for Ukraine outside of NATO lifted hope on Wednesday for a potential breakthrough after three weeks of war.</p><p>The global mood had also been lifted earlier by China&#39;s promise to roll out more stimulus for the economy and keep markets stable.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 3.78-to-1 ratio; on Nasdaq, a 3.79-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 15 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 29 new highs and 93 new lows.</p><p>On U.S. exchanges 15.82 billion shares changed hands compared with the 14.04 billion 20-day moving average.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".IXIC":"NASDAQ Composite","QQQ":"纳指100ETF","BK4550":"红杉资本持仓","OEX":"标普100",".SPX":"S&P 500 Index","DOG":"道指反向ETF","BK4581":"高盛持仓","BK4504":"桥水持仓","SSO":"两倍做多标普500ETF","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","DJX":"1/100道琼斯",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","BK4559":"巴菲特持仓","SPY":"标普500ETF","OEF":"标普100指数ETF-iShares","QLD":"纳指两倍做多ETF","BK4534":"瑞士信贷持仓","DXD":"道指两倍做空ETF","IVV":"标普500指数ETF","TQQQ":"纳指三倍做多ETF","UDOW":"道指三倍做多ETF-ProShares","SDOW":"道指三倍做空ETF-ProShares","PSQ":"纳指反向ETF","DDM":"道指两倍做多ETF","SDS":"两倍做空标普500ETF","UPRO":"三倍做多标普500ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2220169793","content_text":"* Fed ups rates by 25 basis points, signals 7 hikes for 2022* S&P banks close up 3.7%, financials add 2.9%* Indexes up: Dow 1.55%, S&P 500 2.24%, Nasdaq 3.77%March 16 (Reuters) - The S&P 500 closed up more than 2% while the Nasdaq rallied almost 4% on Wednesday as investors shrugged off initial jitters following the U.S. Federal Reserve's interest rate increase and its signal that more hikes would be needed to fight inflation, ending the pandemic-era's easy monetary policy.The central bank announced a quarter-percentage-point increase in its benchmark overnight rate as was widely expected but the projection that its rate would hit between 1.75% and 2% by year's end was more hawkish than some investors said they had expected.While the Fed flagged the massive uncertainty the economy faces from the war between Russia and Ukraine and the ongoing COVID-19 crisis, it said \"ongoing increases\" in the target federal funds rate \"will be appropriate\" to curb the highest inflation the country has witnessed in 40 years.While the major indexes pared earlier gains sharply and the S&P and the Dow both dipped into the red briefly after the Fed statement, the indexes steadied as Fed chair Jerome Powell spoke at a press conference.Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis said investors may be relieved the Fed is taking action against surging inflation.\"Hearing the Fed finally 'say and act' to tackle inflation is somewhat calming for the investment community, and for Main Street struggling with higher inflation,\" he said.But other market analysts were concerned the aggressive rate hike projected could cause the economy to skid.\"This looks like a Fed that is intending on causing recession in order to stamp out the inflation problem and that is as short sighted as calling inflation transitory a year ago,” Scott Ladner, chief investment officer, Horizon Investments, Charlotte, North Carolina.Joseph LaVorgna, Americas chief economist at Natixis in New York was also skeptical.“They’re going to try to be aggressive here in raising rates. I wish Jay Powell and company all the best of luck because they're not going to get anywhere near as they think, unless they’re willing to throw a lot of people out of jobs, because that's what's going to happen.  Because we're going to have a recession. This is a recession forecast,\" he said.\"I just don't see the Fed being able to engineer this kind of tightening for what right now is inflationary demand destruction.\"The Dow Jones Industrial Average rose 518.76 points, or 1.55%, to 34,063.1, the S&P 500 gained 95.41 points, or 2.24%, to 4,357.86 and the Nasdaq Composite added 487.93 points, or 3.77%, to 13,436.55.Of the S&P 500's 11 major industry sectors, the biggest gainers were sectors that had fallen sharply in a recent sell off with consumer discretionary and technologyboth finishing up more than 3% while communications services and financials added almost 3%.Only two of the sectors ended the day in the red with energy falling 0.4% and utilities losing 0.2%.Historical data suggests tighter monetary policy has often been accompanied by solid gains in stocks. The S&P 500 has returned an average 7.7% in the first year the Fed raises rates, according to a Deutsche Bank study of 13 hiking cycles since 1955.Ahead of the Fed statement stocks had been rallying as talk of compromise from both Moscow and Kyiv on a status for Ukraine outside of NATO lifted hope on Wednesday for a potential breakthrough after three weeks of war.The global mood had also been lifted earlier by China's promise to roll out more stimulus for the economy and keep markets stable.Advancing issues outnumbered declining ones on the NYSE by a 3.78-to-1 ratio; on Nasdaq, a 3.79-to-1 ratio favored advancers.The S&P 500 posted 15 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 29 new highs and 93 new lows.On U.S. exchanges 15.82 billion shares changed hands compared with the 14.04 billion 20-day moving average.","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032229048,"gmtCreate":1647388948038,"gmtModify":1676534223071,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032229048","repostId":"2219372817","repostType":4,"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818372400,"gmtCreate":1630380061700,"gmtModify":1676530286670,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/818372400","repostId":"1168575044","repostType":4,"repost":{"id":"1168575044","pubTimestamp":1630378727,"share":"https://ttm.financial/m/news/1168575044?lang=&edition=fundamental","pubTime":"2021-08-31 10:58","market":"us","language":"en","title":"Warren Buffett turns 91, prepares Berkshire for new, tech-driven economy - CNBC","url":"https://stock-news.laohu8.com/highlight/detail?id=1168575044","media":"seekingalpha","summary":"Warren Buffett isshowing a greater opennessto investments that stray from Berkshire Hathaway's (BRK.","content":"<p>Warren Buffett isshowing a greater opennessto investments that stray from Berkshire Hathaway's (BRK.A,BRK.B) old economy core, adaptingto the increasingly tech-driven economy, CNBC's Yun Li writes on The Oracle's 91st birthday.</p>\n<p>Berkshire's exposure to tech stocks has grown to 45% of its equity portfolio, thanks to its massive stake in Apple that has ballooned to more than $120B since its initial investment five years ago, and Buffett has dipped into IPOs and pre-IPO investments.</p>\n<p>\"The equity portfolio today is more dynamic than it was 10-15 years ago with the Todds at the helm,\" says Cathy Seifert, Berkshire analyst at&nbsp;CFRA&nbsp;Research, referring to Buffett's investment lieutenants Todd Combs and Ted Weschler.</p>\n<p>But die-hard Buffett watchers awaiting the next big acquisition instead have seen Berkshire focused on returning capital to shareholders, Li writes, noting the company bought back $6B of its own stock in Q2, after repurchasing a record $24.7B last year.</p>\n<p>Buffett's $6B bet a year ago on Japan's five largest trading houses hasgained more than 30%, outpacing the Topix index's 21% rise, but has not sparked a groundswell of international followers, as many investors remain sidelined by uncertainty over COVID-19 and the country's political leadership.</p>\n<p>Seeking Alpha contributor C Jessen believes \"we can expect more aggressive deployment Of Berkshire's $144B cash... when Ted and Todd take over the investment portfolio.\"</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Warren Buffett turns 91, prepares Berkshire for new, tech-driven economy - CNBC</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\">\nWarren Buffett turns 91, prepares Berkshire for new, tech-driven economy - CNBC\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-31 10:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3735454-warren-buffett-turns-91-prepares-berkshire-for-new-tech-driven-economy-cnbc><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett isshowing a greater opennessto investments that stray from Berkshire Hathaway's (BRK.A,BRK.B) old economy core, adaptingto the increasingly tech-driven economy, CNBC's Yun Li writes on ...</p>\n\n<a href=\"https://seekingalpha.com/news/3735454-warren-buffett-turns-91-prepares-berkshire-for-new-tech-driven-economy-cnbc\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://seekingalpha.com/news/3735454-warren-buffett-turns-91-prepares-berkshire-for-new-tech-driven-economy-cnbc","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1168575044","content_text":"Warren Buffett isshowing a greater opennessto investments that stray from Berkshire Hathaway's (BRK.A,BRK.B) old economy core, adaptingto the increasingly tech-driven economy, CNBC's Yun Li writes on The Oracle's 91st birthday.\nBerkshire's exposure to tech stocks has grown to 45% of its equity portfolio, thanks to its massive stake in Apple that has ballooned to more than $120B since its initial investment five years ago, and Buffett has dipped into IPOs and pre-IPO investments.\n\"The equity portfolio today is more dynamic than it was 10-15 years ago with the Todds at the helm,\" says Cathy Seifert, Berkshire analyst at CFRA Research, referring to Buffett's investment lieutenants Todd Combs and Ted Weschler.\nBut die-hard Buffett watchers awaiting the next big acquisition instead have seen Berkshire focused on returning capital to shareholders, Li writes, noting the company bought back $6B of its own stock in Q2, after repurchasing a record $24.7B last year.\nBuffett's $6B bet a year ago on Japan's five largest trading houses hasgained more than 30%, outpacing the Topix index's 21% rise, but has not sparked a groundswell of international followers, as many investors remain sidelined by uncertainty over COVID-19 and the country's political leadership.\nSeeking Alpha contributor C Jessen believes \"we can expect more aggressive deployment Of Berkshire's $144B cash... when Ted and Todd take over the investment portfolio.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171783480,"gmtCreate":1626764594540,"gmtModify":1703764757212,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good stuff to read.","listText":"Good stuff to read.","text":"Good stuff to read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/171783480","repostId":"1120865210","repostType":4,"isVote":1,"tweetType":1,"viewCount":765,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179732024,"gmtCreate":1626576147968,"gmtModify":1703761922034,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good read as usual ??","listText":"Good read as usual ??","text":"Good read as usual ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179732024","repostId":"1183956332","repostType":4,"repost":{"id":"1183956332","pubTimestamp":1626568120,"share":"https://ttm.financial/m/news/1183956332?lang=&edition=fundamental","pubTime":"2021-07-18 08:28","market":"us","language":"en","title":"US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1183956332","media":"renaissancecap...","summary":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.The largest deal of the week, specialty insurance brokerage Ryan Specialty Group plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in t","content":"<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.</p>\n<p>The largest deal of the week, specialty insurance brokerage&nbsp;<b>Ryan Specialty Group</b>(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.</p>\n<p>Water infrastructure company&nbsp;<b>Core &amp; Main</b>(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.</p>\n<p>HR software provider&nbsp;<b>Paycor HCM</b>(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.</p>\n<p>Latin <a href=\"https://laohu8.com/S/AFG\">American</a> e-commerce platform&nbsp;<b><a href=\"https://laohu8.com/S/VTEX\">VTEX</a></b>(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&amp;A and R&amp;D have weighed on profits.</p>\n<p>Learning management platform&nbsp;<b>Instructure Holdings</b>(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.</p>\n<p>Protein discovery and development platform&nbsp;<b>AbSci</b>(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include <a href=\"https://laohu8.com/S/MRK\">Merck</a> and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.</p>\n<p>Organic beverage brand&nbsp;<b><a href=\"https://laohu8.com/S/ZVIA\">Zevia PBC</a></b>(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.</p>\n<p>Content marketing platform&nbsp;<b>Outbrain</b>(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.</p>\n<p>Fitness franchisor&nbsp;<b>Xponential Fitness</b>(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.</p>\n<p>Legal software provider&nbsp;<b>CS Disco</b>(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.</p>\n<p>Following its postponement in May, Brazil’s&nbsp;<b>Zenvia</b>(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.</p>\n<p><b>Couchbase</b>(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&amp;M costs.</p>\n<p>Following its postponement in April,<b>Kaltura</b>(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.</p>\n<p><b>Gambling.com Group</b>(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.</p>\n<p>Three biotechs are expected to round out the week: cancer biotech&nbsp;<b>Candel Therapeutics</b>(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech&nbsp;<b>Ocean Biomedical</b>(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech&nbsp;<b>Elicio Therapeutics</b>(ELTX), which plans to raise $40 million at a $201 million market cap.</p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week</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; 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}\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\">\nUS IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VTEX":"VTEX","BASE":"Couchbase, Inc.","CNM":"Core & Main, Inc.","PYCR":"Paycor HCM, Inc.","RYAN":"Ryan Specialty Group Holdings, Inc.","LAW":"CS Disco, Inc.","ELTX":"Elicio Therapeutics","ZVIA":"Zevia PBC","GAMB":"Gambling.com Group Limited","INST":"Instructure Holdings, Inc.","ABSI":"Absci Corporation.","CADL":"Candel Therapeutics, Inc.","OB":"Outbrain Inc.","OCEA":"Ocean Biomedical"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183956332","content_text":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan Specialty Group(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.\nWater infrastructure company Core & Main(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.\nHR software provider Paycor HCM(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.\nLatin American e-commerce platform VTEX(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&A and R&D have weighed on profits.\nLearning management platform Instructure Holdings(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.\nProtein discovery and development platform AbSci(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include Merck and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.\nOrganic beverage brand Zevia PBC(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.\nContent marketing platform Outbrain(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.\nFitness franchisor Xponential Fitness(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.\nLegal software provider CS Disco(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.\nFollowing its postponement in May, Brazil’s Zenvia(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.\nCouchbase(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&M costs.\nFollowing its postponement in April,Kaltura(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.\nGambling.com Group(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.\nThree biotechs are expected to round out the week: cancer biotech Candel Therapeutics(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech Ocean Biomedical(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech Elicio Therapeutics(ELTX), which plans to raise $40 million at a $201 million market cap.","news_type":1},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179041143,"gmtCreate":1626478113883,"gmtModify":1703760731954,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"There should be nothing to fear. Ups and downs.","listText":"There should be nothing to fear. Ups and downs.","text":"There should be nothing to fear. Ups and downs.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179041143","repostId":"1149577900","repostType":4,"repost":{"id":"1149577900","pubTimestamp":1626483617,"share":"https://ttm.financial/m/news/1149577900?lang=&edition=fundamental","pubTime":"2021-07-17 09:00","market":"us","language":"en","title":"Don't Fear A Stock Market Crash","url":"https://stock-news.laohu8.com/highlight/detail?id=1149577900","media":"seekingalpha","summary":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push ","content":"<p>Summary</p>\n<ul>\n <li>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.</li>\n <li>There are four main factors that this market exhibits that have the potential to cause a crash.</li>\n <li>Those factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.</li>\n <li>Preparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.</li>\n <li>A crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.</li>\n</ul>\n<p>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.</p>\n<p>An Abundance of 'Warnings'</p>\n<p>Simply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.</p>\n<ul>\n <li>Harry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.</li>\n <li>Jeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.</li>\n <li>John Hussmanhas warned that valuations are extreme, and called for the S&amp;P 500 to see 12 years of negative returns ahead and a &gt;60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"</li>\n</ul>\n<p>Yet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&amp;P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.</p>\n<p>Four Factors</p>\n<p>While there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.</p>\n<p>Excessive Speculation</p>\n<p>Speculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.</p>\n<p>While single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.</p>\n<p><img src=\"https://static.tigerbbs.com/dccc290398aed22a11cf41ae63a85bce\" tg-width=\"624\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p>Margin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.</p>\n<p>Back in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.</p>\n<p>Speculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.</p>\n<p>Growth Slowdown</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/034a916ba93dac9b099409c5906bee37\" tg-width=\"631\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><span>Graphic fromWeForumvia Statista</span></p>\n<p>The economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.</p>\n<p>Unemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.</p>\n<p>The market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.</p>\n<p>Peak Valuations</p>\n<p>Arguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/388dd5417e610209de84d8a86ca86f91\" tg-width=\"624\" tg-height=\"351\" referrerpolicy=\"no-referrer\"><span>Graphic fromBloomberg</span></p>\n<p>February and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising &gt;100% on rumors of mergers, only to fall &gt;50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.</p>\n<p>SPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a5ace269e2c48c6ad6bb5180ce32e48\" tg-width=\"635\" tg-height=\"535\" referrerpolicy=\"no-referrer\"><span>Data byYCharts</span></p>\n<p>Tech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.</p>\n<p>But these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&amp;P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/136219a2e6ea016fd91597c989fa1a9e\" tg-width=\"624\" tg-height=\"312\" referrerpolicy=\"no-referrer\"><span>Graphic fromCurrent Market Valuation</span></p>\n<p>And as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ab71b923769effdde5d09e1d3cd3fd\" tg-width=\"624\" tg-height=\"354\" referrerpolicy=\"no-referrer\"><span>Graphic fromBusiness Insider</span></p>\n<p>Low Interest Rates</p>\n<p>The fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.</p>\n<p>When interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e8cb16f3b4b962cfa8adbffa4127b92\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Graphic fromJP Morgan</span></p>\n<p>Although rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.</p>\n<p>Is It Time To Prepare?</p>\n<p>Signs and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims of<i>x%</i>drops in<i>x</i>month are speculative in nature, unless that individual knows something unknown to the rest of the market.</p>\n<p>When facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like&nbsp;SPY&nbsp;and&nbsp;DIA&nbsp;could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.<i>Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.</i></p>\n<p>Again, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Don't Fear A Stock Market Crash</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\">\nDon't Fear A Stock Market Crash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-17 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1149577900","content_text":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the potential to cause a crash.\nThose factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.\nPreparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.\nA crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.\nAn Abundance of 'Warnings'\nSimply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.\n\nHarry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.\nJeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.\nJohn Hussmanhas warned that valuations are extreme, and called for the S&P 500 to see 12 years of negative returns ahead and a >60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"\n\nYet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.\nFour Factors\nWhile there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.\nExcessive Speculation\nSpeculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.\nWhile single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.\n\nMargin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.\nBack in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.\nSpeculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.\nGrowth Slowdown\nGraphic fromWeForumvia Statista\nThe economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.\nUnemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.\nThe market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.\nPeak Valuations\nArguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.\nGraphic fromBloomberg\nFebruary and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising >100% on rumors of mergers, only to fall >50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.\nSPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.\nData byYCharts\nTech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.\nBut these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.\nGraphic fromCurrent Market Valuation\nAnd as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.\nGraphic fromBusiness Insider\nLow Interest Rates\nThe fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.\nWhen interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.\nGraphic fromJP Morgan\nAlthough rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.\nIs It Time To Prepare?\nSigns and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims ofx%drops inxmonth are speculative in nature, unless that individual knows something unknown to the rest of the market.\nWhen facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like SPY and DIA could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.\nAgain, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170045996,"gmtCreate":1626397321015,"gmtModify":1703759303171,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good read. Thank you","listText":"Good read. Thank you","text":"Good read. Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170045996","repostId":"2151573133","repostType":4,"repost":{"id":"2151573133","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1626379249,"share":"https://ttm.financial/m/news/2151573133?lang=&edition=fundamental","pubTime":"2021-07-16 04:00","market":"us","language":"en","title":"Nasdaq ends lower as investors sell Big Tech","url":"https://stock-news.laohu8.com/highlight/detail?id=2151573133","media":"Reuters","summary":"July 15  - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.Amazon, Apple, Tesla and $Facebook$all fell. Nvidia tumbled around 4%.The S&P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&P 500 and the Nasdaq to record highs.The S&P 500 energy sector index fell more than ","content":"<ul>\n <li>U.S. weekly jobless claims fall to 16-month low</li>\n <li>Tech sector ends four-day winning streak</li>\n</ul>\n<p>July 15 (Reuters) - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.</p>\n<p>Amazon, Apple,&nbsp;Tesla and <a href=\"https://laohu8.com/S/FB\">Facebook</a>all fell. Nvidia&nbsp;tumbled around 4%.</p>\n<p>The S&amp;P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&amp;P 500 and the Nasdaq to record highs.</p>\n<p>The S&amp;P 500 energy sector index fell more than 1% and tracked a drop in crude prices on expectations of more supply after a compromise agreement between leading OPEC producers.</p>\n<p>Fresh data showed the number of Americans filing new claims for unemployment benefits fell last week to a 16-month low, while worker shortages and bottlenecks in the supply chain have frustrated efforts by businesses to ramp up production to meet strong demand for goods and services.</p>\n<p>Federal Reserve Chair Jerome Powell told lawmakers he anticipated the shortages and high inflation would abate. Yet many investors still worry that more sustained inflation could lead to a sooner-than-expected tightening of monetary policy.</p>\n<p>\"People are very nervous and concerned about inflation, tax rates and the (2022 midterm) election. Those three things are very much on people's minds,\" said 6 Meridian Chief Investment Officer Andrew Mies, describing recent phone calls with his firm's clients.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 54.52 points, or 0.16%, to 34,987.75, the S&amp;P 500 lost 14.29 points, or 0.33%, to 4,360.01 and the Nasdaq Composite&nbsp;dropped 101.82 points, or 0.7%, to 14,543.13.</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> dipped as much as 1.2% after it beat expectations for quarterly profit, getting a boost from record investment banking activity even as the trading bonanza that supported results in recent quarters slowed down.</p>\n<p>Second-quarter reporting season kicked off this week, with the four largest U.S. lenders - Wells Fargo &amp; Co , $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ and JPMorgan Chase &amp; Co - posting a combined $33 billion in profits, but also highlighting the industry's sensitivity to low interest rates.</p>\n<p>Blackstone said late on Wednesday it would pay $2.2 billion for 9.9% stake in American International Group's life and retirement business. AIG and Blackstone both rallied.</p>\n<p>Johnson &amp; Johnson dipped after it voluntarily recalled five aerosol sunscreen products in the United States after detecting a cancer-causing chemical in some samples.</p>\n<p>(Reporting by Noel Randewich; Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq ends lower as investors sell Big Tech</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\">\nNasdaq ends lower as investors sell Big Tech\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-16 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>U.S. weekly jobless claims fall to 16-month low</li>\n <li>Tech sector ends four-day winning streak</li>\n</ul>\n<p>July 15 (Reuters) - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.</p>\n<p>Amazon, Apple,&nbsp;Tesla and <a href=\"https://laohu8.com/S/FB\">Facebook</a>all fell. Nvidia&nbsp;tumbled around 4%.</p>\n<p>The S&amp;P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&amp;P 500 and the Nasdaq to record highs.</p>\n<p>The S&amp;P 500 energy sector index fell more than 1% and tracked a drop in crude prices on expectations of more supply after a compromise agreement between leading OPEC producers.</p>\n<p>Fresh data showed the number of Americans filing new claims for unemployment benefits fell last week to a 16-month low, while worker shortages and bottlenecks in the supply chain have frustrated efforts by businesses to ramp up production to meet strong demand for goods and services.</p>\n<p>Federal Reserve Chair Jerome Powell told lawmakers he anticipated the shortages and high inflation would abate. Yet many investors still worry that more sustained inflation could lead to a sooner-than-expected tightening of monetary policy.</p>\n<p>\"People are very nervous and concerned about inflation, tax rates and the (2022 midterm) election. Those three things are very much on people's minds,\" said 6 Meridian Chief Investment Officer Andrew Mies, describing recent phone calls with his firm's clients.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 54.52 points, or 0.16%, to 34,987.75, the S&amp;P 500 lost 14.29 points, or 0.33%, to 4,360.01 and the Nasdaq Composite&nbsp;dropped 101.82 points, or 0.7%, to 14,543.13.</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> dipped as much as 1.2% after it beat expectations for quarterly profit, getting a boost from record investment banking activity even as the trading bonanza that supported results in recent quarters slowed down.</p>\n<p>Second-quarter reporting season kicked off this week, with the four largest U.S. lenders - Wells Fargo &amp; Co , $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ and JPMorgan Chase &amp; Co - posting a combined $33 billion in profits, but also highlighting the industry's sensitivity to low interest rates.</p>\n<p>Blackstone said late on Wednesday it would pay $2.2 billion for 9.9% stake in American International Group's life and retirement business. AIG and Blackstone both rallied.</p>\n<p>Johnson &amp; Johnson dipped after it voluntarily recalled five aerosol sunscreen products in the United States after detecting a cancer-causing chemical in some samples.</p>\n<p>(Reporting by Noel Randewich; Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","C":"花旗",".DJI":"道琼斯","BAC":"美国银行",".IXIC":"NASDAQ Composite","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF","QID":"纳指两倍做空ETF","03086":"华夏纳指","OEX":"标普100","AMZN":"亚马逊",".SPX":"S&P 500 Index","AAPL":"苹果","SPXU":"三倍做空标普500ETF","JPM":"摩根大通","SQQQ":"纳指三倍做空ETF","QNETCN":"纳斯达克中美互联网老虎指数","AIG":"美国国际集团","JNJ":"强生","DJX":"1/100道琼斯","DXD":"道指两倍做空ETF","QLD":"纳指两倍做多ETF","OEF":"标普100指数ETF-iShares","BX":"黑石","TQQQ":"纳指三倍做多ETF","IVV":"标普500指数ETF","SDOW":"道指三倍做空ETF-ProShares","PSQ":"纳指反向ETF","DDM":"道指两倍做多ETF","MS":"摩根士丹利","WFC":"富国银行","SDS":"两倍做空标普500ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","QQQ":"纳指100ETF","NVDA":"英伟达","09086":"华夏纳指-U","TSLA":"特斯拉","DOG":"道指反向ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151573133","content_text":"U.S. weekly jobless claims fall to 16-month low\nTech sector ends four-day winning streak\n\nJuly 15 (Reuters) - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.\nAmazon, Apple, Tesla and Facebookall fell. Nvidia tumbled around 4%.\nThe S&P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&P 500 and the Nasdaq to record highs.\nThe S&P 500 energy sector index fell more than 1% and tracked a drop in crude prices on expectations of more supply after a compromise agreement between leading OPEC producers.\nFresh data showed the number of Americans filing new claims for unemployment benefits fell last week to a 16-month low, while worker shortages and bottlenecks in the supply chain have frustrated efforts by businesses to ramp up production to meet strong demand for goods and services.\nFederal Reserve Chair Jerome Powell told lawmakers he anticipated the shortages and high inflation would abate. Yet many investors still worry that more sustained inflation could lead to a sooner-than-expected tightening of monetary policy.\n\"People are very nervous and concerned about inflation, tax rates and the (2022 midterm) election. Those three things are very much on people's minds,\" said 6 Meridian Chief Investment Officer Andrew Mies, describing recent phone calls with his firm's clients.\nUnofficially, the Dow Jones Industrial Average rose 54.52 points, or 0.16%, to 34,987.75, the S&P 500 lost 14.29 points, or 0.33%, to 4,360.01 and the Nasdaq Composite dropped 101.82 points, or 0.7%, to 14,543.13.\nMorgan Stanley dipped as much as 1.2% after it beat expectations for quarterly profit, getting a boost from record investment banking activity even as the trading bonanza that supported results in recent quarters slowed down.\nSecond-quarter reporting season kicked off this week, with the four largest U.S. lenders - Wells Fargo & Co , $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ and JPMorgan Chase & Co - posting a combined $33 billion in profits, but also highlighting the industry's sensitivity to low interest rates.\nBlackstone said late on Wednesday it would pay $2.2 billion for 9.9% stake in American International Group's life and retirement business. AIG and Blackstone both rallied.\nJohnson & Johnson dipped after it voluntarily recalled five aerosol sunscreen products in the United States after detecting a cancer-causing chemical in some samples.\n(Reporting by Noel Randewich; Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144470766,"gmtCreate":1626312256555,"gmtModify":1703757611437,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good read. Thank you","listText":"Good read. Thank you","text":"Good read. Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144470766","repostId":"1144459947","repostType":4,"isVote":1,"tweetType":1,"viewCount":387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144445367,"gmtCreate":1626312085459,"gmtModify":1703757605899,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"nice one","listText":"nice one","text":"nice one","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144445367","repostId":"1144459947","repostType":4,"isVote":1,"tweetType":1,"viewCount":485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144442597,"gmtCreate":1626312074219,"gmtModify":1703757605398,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144442597","repostId":"1144459947","repostType":4,"isVote":1,"tweetType":1,"viewCount":365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144978967,"gmtCreate":1626264988359,"gmtModify":1703756615581,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"nice one","listText":"nice one","text":"nice one","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144978967","repostId":"2151162795","repostType":4,"repost":{"id":"2151162795","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626263444,"share":"https://ttm.financial/m/news/2151162795?lang=&edition=fundamental","pubTime":"2021-07-14 19:50","market":"us","language":"en","title":"Wells Fargo Q2 EPS $1.38 Beats $0.97 Estimate, Sales $20.27B Beat $17.75B Estimate","url":"https://stock-news.laohu8.com/highlight/detail?id=2151162795","media":"Benzinga","summary":"Wells Fargo & Co swung to a profit in the second quarter, the bank said on Wednesday, as it released","content":"<p>Wells Fargo &amp; Co&nbsp;swung to a profit in the second quarter, the bank said on Wednesday, as it released funds set aside to cover soured loans, while costs tied to its years-old sales practices scandal stabilized.</p>\n<p>Wells Fargo has been operating under penalties from regulators since 2016 when details of a sales scandal emerged and led to the departure of two chief executives and billions of dollars in litigation and remediation costs.</p>\n<p>Under an order imposed by the Federal Reserve in 2018, the bank is not allowed to let its assets rise above $1.95 trillion.</p>\n<p>Wells Fargo, however, began to rein in costs this year, signaling that it may finally be emerging from the episode that has dogged it for nearly five years.</p>\n<p>The fourth-largest U.S. lender reported a profit of $6 billion, or $1.38 per share, compared with a net loss of $3.85 billion, or $1.01 per share, a year earlier.</p>\n<p>Analysts on average had expected a profit of 97 cents per share, according to estimates from Refinitiv.</p>\n<p>Total revenue rose 11% to $20.27 billion.</p>\n<p>Wells Fargo shares up 0.4% premarket.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wells Fargo Q2 EPS $1.38 Beats $0.97 Estimate, Sales $20.27B Beat $17.75B Estimate</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\">\nWells Fargo Q2 EPS $1.38 Beats $0.97 Estimate, Sales $20.27B Beat $17.75B Estimate\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-07-14 19:50</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Wells Fargo &amp; Co&nbsp;swung to a profit in the second quarter, the bank said on Wednesday, as it released funds set aside to cover soured loans, while costs tied to its years-old sales practices scandal stabilized.</p>\n<p>Wells Fargo has been operating under penalties from regulators since 2016 when details of a sales scandal emerged and led to the departure of two chief executives and billions of dollars in litigation and remediation costs.</p>\n<p>Under an order imposed by the Federal Reserve in 2018, the bank is not allowed to let its assets rise above $1.95 trillion.</p>\n<p>Wells Fargo, however, began to rein in costs this year, signaling that it may finally be emerging from the episode that has dogged it for nearly five years.</p>\n<p>The fourth-largest U.S. lender reported a profit of $6 billion, or $1.38 per share, compared with a net loss of $3.85 billion, or $1.01 per share, a year earlier.</p>\n<p>Analysts on average had expected a profit of 97 cents per share, according to estimates from Refinitiv.</p>\n<p>Total revenue rose 11% to $20.27 billion.</p>\n<p>Wells Fargo shares up 0.4% premarket.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QTWO":"Q2 Holdings Inc","WFC":"富国银行"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151162795","content_text":"Wells Fargo & Co swung to a profit in the second quarter, the bank said on Wednesday, as it released funds set aside to cover soured loans, while costs tied to its years-old sales practices scandal stabilized.\nWells Fargo has been operating under penalties from regulators since 2016 when details of a sales scandal emerged and led to the departure of two chief executives and billions of dollars in litigation and remediation costs.\nUnder an order imposed by the Federal Reserve in 2018, the bank is not allowed to let its assets rise above $1.95 trillion.\nWells Fargo, however, began to rein in costs this year, signaling that it may finally be emerging from the episode that has dogged it for nearly five years.\nThe fourth-largest U.S. lender reported a profit of $6 billion, or $1.38 per share, compared with a net loss of $3.85 billion, or $1.01 per share, a year earlier.\nAnalysts on average had expected a profit of 97 cents per share, according to estimates from Refinitiv.\nTotal revenue rose 11% to $20.27 billion.\nWells Fargo shares up 0.4% premarket.","news_type":1},"isVote":1,"tweetType":1,"viewCount":345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144971792,"gmtCreate":1626264951616,"gmtModify":1703756615087,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144971792","repostId":"1165924722","repostType":4,"isVote":1,"tweetType":1,"viewCount":404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144971927,"gmtCreate":1626264920869,"gmtModify":1703756613947,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144971927","repostId":"1137188160","repostType":4,"repost":{"id":"1137188160","pubTimestamp":1626263564,"share":"https://ttm.financial/m/news/1137188160?lang=&edition=fundamental","pubTime":"2021-07-14 19:52","market":"us","language":"en","title":"Wedbush downgrades Peloton, says customer engagement falling with gyms reopened","url":"https://stock-news.laohu8.com/highlight/detail?id=1137188160","media":"CNBC","summary":"Peloton needs to prove it can grow in a post-pandemic world before the stock can beat the market aga","content":"<div>\n<p>Peloton needs to prove it can grow in a post-pandemic world before the stock can beat the market again, according to investment firm Wedbush.\nAnalyst James Hardiman downgraded the stock to neutral ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/14/peloton-stock-pton-wedbush-downgrade.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wedbush downgrades Peloton, says customer engagement falling with gyms reopened</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWedbush downgrades Peloton, says customer engagement falling with gyms reopened\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-14 19:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/14/peloton-stock-pton-wedbush-downgrade.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Peloton needs to prove it can grow in a post-pandemic world before the stock can beat the market again, according to investment firm Wedbush.\nAnalyst James Hardiman downgraded the stock to neutral ...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/14/peloton-stock-pton-wedbush-downgrade.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PTON":"Peloton Interactive, Inc."},"source_url":"https://www.cnbc.com/2021/07/14/peloton-stock-pton-wedbush-downgrade.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1137188160","content_text":"Peloton needs to prove it can grow in a post-pandemic world before the stock can beat the market again, according to investment firm Wedbush.\nAnalyst James Hardiman downgraded the stock to neutral from outperform, saying in a note to clients on Wednesday that growth will be harder to come by for the exercise equipment company.\n“PTON is now embarking on the next leg of its growth story, one that in a post-pandemic era will require the company to generate its own momentum through savvy marketing and compelling new products,” the note said.\nThe stock was a big winner in 2020 as gyms across the United States were temporarily closed due to the pandemic, but shares have pulled back by more than 20% this year.\nWedbush’s research, including social media and internet search trends, suggest that Peloton is seeing a drop off in customer engagement.\n“In each case, the y/y growth in the June quarter has seen substantial deceleration, which should not be surprising given seasonal and reopening headwinds, but nonetheless would seem to mark a turning point for a company that has continually defied gravity since its IPO, and presents evidence that the law of large numbers is finally catching up,” the note said.\nThe investment firm cut its price target on Peloton to $115 per share from $130. The new target is 4% below where the stock closed on Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":373,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144973198,"gmtCreate":1626264889114,"gmtModify":1703756613134,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144973198","repostId":"1165924722","repostType":4,"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144979205,"gmtCreate":1626264871107,"gmtModify":1703756612005,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144979205","repostId":"1165924722","repostType":4,"repost":{"id":"1165924722","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626264464,"share":"https://ttm.financial/m/news/1165924722?lang=&edition=fundamental","pubTime":"2021-07-14 20:07","market":"us","language":"en","title":"Citigroup beats analysts’ estimates for profit, helped by $1.1 billion boost from loans","url":"https://stock-news.laohu8.com/highlight/detail?id=1165924722","media":"Tiger Newspress","summary":"Citigroupposted second-quarter results.\nHere's how the bank did:\nEarnings: $2.85 a share. The estima","content":"<p>Citigroupposted second-quarter results.</p>\n<p>Here's how the bank did:</p>\n<p>Earnings: $2.85 a share. The estimate of analysts surveyed by Refinitiv was $1.96 a share.</p>\n<p>Revenue: $17.47 billion. The estimate was $17.2 billion.</p>\n<p>What changes doesJane Fraserhave in store for Citigroup?</p>\n<p>Fraser, who officially became CEO in February,announcedin April that Citigroup was exiting retail operations in 13 countries outside the U.S. to improve returns.</p>\n<p>Now, analysts wonder what else Fraser has planned for her strategic revamp of Citigroup, the third biggest U.S. bank by assets.</p>\n<p>Like the rest of the industry, Citigroup is expected to release some of the money it had previously set aside for anticipated defaults tied to the coronavirus pandemic. The firm may also benefit from strong Wall Street advisory activity in the quarter.</p>\n<p>Shares of Citigroup have climbed 11% this year, compared with the 26% advance of the KBW Bank Index.</p>\n<p>On Tuesday,JPMorgan ChaseandGoldman Sachs each posted results that beat expectations, helped by strong revenue from Wall Street advisory activities.</p>\n<p>Shares of Citigroup&nbsp;rises&nbsp;0.4&nbsp;in&nbsp;premarket.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citigroup beats analysts’ estimates for profit, helped by $1.1 billion boost from loans</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\">\nCitigroup beats analysts’ estimates for profit, helped by $1.1 billion boost from loans\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-14 20:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Citigroupposted second-quarter results.</p>\n<p>Here's how the bank did:</p>\n<p>Earnings: $2.85 a share. The estimate of analysts surveyed by Refinitiv was $1.96 a share.</p>\n<p>Revenue: $17.47 billion. The estimate was $17.2 billion.</p>\n<p>What changes doesJane Fraserhave in store for Citigroup?</p>\n<p>Fraser, who officially became CEO in February,announcedin April that Citigroup was exiting retail operations in 13 countries outside the U.S. to improve returns.</p>\n<p>Now, analysts wonder what else Fraser has planned for her strategic revamp of Citigroup, the third biggest U.S. bank by assets.</p>\n<p>Like the rest of the industry, Citigroup is expected to release some of the money it had previously set aside for anticipated defaults tied to the coronavirus pandemic. The firm may also benefit from strong Wall Street advisory activity in the quarter.</p>\n<p>Shares of Citigroup have climbed 11% this year, compared with the 26% advance of the KBW Bank Index.</p>\n<p>On Tuesday,JPMorgan ChaseandGoldman Sachs each posted results that beat expectations, helped by strong revenue from Wall Street advisory activities.</p>\n<p>Shares of Citigroup&nbsp;rises&nbsp;0.4&nbsp;in&nbsp;premarket.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"C":"花旗"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165924722","content_text":"Citigroupposted second-quarter results.\nHere's how the bank did:\nEarnings: $2.85 a share. The estimate of analysts surveyed by Refinitiv was $1.96 a share.\nRevenue: $17.47 billion. The estimate was $17.2 billion.\nWhat changes doesJane Fraserhave in store for Citigroup?\nFraser, who officially became CEO in February,announcedin April that Citigroup was exiting retail operations in 13 countries outside the U.S. to improve returns.\nNow, analysts wonder what else Fraser has planned for her strategic revamp of Citigroup, the third biggest U.S. bank by assets.\nLike the rest of the industry, Citigroup is expected to release some of the money it had previously set aside for anticipated defaults tied to the coronavirus pandemic. The firm may also benefit from strong Wall Street advisory activity in the quarter.\nShares of Citigroup have climbed 11% this year, compared with the 26% advance of the KBW Bank Index.\nOn Tuesday,JPMorgan ChaseandGoldman Sachs each posted results that beat expectations, helped by strong revenue from Wall Street advisory activities.\nShares of Citigroup rises 0.4 in premarket.","news_type":1},"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9035795672,"gmtCreate":1647671367420,"gmtModify":1676534257829,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035795672","repostId":"2220777059","repostType":4,"repost":{"id":"2220777059","pubTimestamp":1647653153,"share":"https://ttm.financial/m/news/2220777059?lang=&edition=fundamental","pubTime":"2022-03-19 09:25","market":"us","language":"en","title":"Sea Limited: The Three-Headed Monster","url":"https://stock-news.laohu8.com/highlight/detail?id=2220777059","media":"seekingalpha","summary":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but B","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Garena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.</li><li>In addition, Shopee&#39;s losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.</li><li>SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea&#39;s second cash cow.</li><li>With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion.</li><li>Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51b3290f2015840c5d8f754c01de8a85\" tg-width=\"750\" tg-height=\"422\" referrerpolicy=\"no-referrer\"/><span>undefined undefined/iStock via Getty Images</span></p><p>I&#39;ve been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I&#39;m doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let&#39;s get started!</p><p><b>Investment Thesis</b></p><p>Sea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company&#39;s slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee&#39;s losses are also getting worse.</p><p>The Group&#39;s cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.</p><p>On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea&#39;s second cash cow.</p><p>Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.</p><p>The three-headed monster is a Buy at these levels.</p><p><b>Value Proposition</b></p><p>Founded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.</p><blockquote><b>Mission</b>: To better the lives of consumers and small businesses with technology.</blockquote><p>Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea&#39;s main value proposition is providing a vertically-integrated experience through its different core businesses.</p><p><b>Garena</b></p><p>Its digital entertainment division, Garena, was Sea&#39;s first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.</p><p>Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena&#39;s Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor <a href=\"https://laohu8.com/S/TWR.AU\">Tower</a>&#39;s findings, Free Fire still holds the most downloads globally as of January 2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fa392753c19f14d60ee0d992e58c3d2f\" tg-width=\"1280\" tg-height=\"741\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>Garena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.</p><p>In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.</p><p><b>Shopee</b></p><p>Perhaps the most exciting business segment is Sea&#39;s mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6649de846b2942b928a3f3e5d4035003\" tg-width=\"640\" tg-height=\"200\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee</span></p><p>Through the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee&#39;s two premium shopping platforms, Shopee Mall and Shopee Premium.</p><p>Along with Shopee&#39;s e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:</p><ul><li><b>Service by Shopee</b> - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.</li><li><b>BuyerProtection</b> - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers&#39; funds in a separate account until delivery is complete, where funds will be released to buyers.</li><li><b>Integrated Logistics Services</b>- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.</li><li><b>Social Features</b> - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).</li><li><b>On-demand Services</b>- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).</li></ul><p>Shopee&#39;s scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee&#39;s most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f9c550b140720336e00cc78e954d184\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p><b>SeaMoney</b></p><p>SeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea&#39;s operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney&#39;s various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.</p><p>Through SeaMoney&#39;s mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a &#34;buy now pay later&#34; payment option, enables consumers to purchase items without accessing credit. For those who are interested, I&#39;ve written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.</p><p>SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c85c862195f86fe9d4f0f8c8beced6b\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SeaBank Website</span></p><p>SeaMoney&#39;s main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea&#39;s other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.</p><p><b>Market Opportunity</b></p><p>Sea&#39;s market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let&#39;s take a look at each industry that Sea operates in.</p><p>First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f72bda6df6bc2b7bdf8756d218f53185\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: SensorTower</span></p><p>According to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021&#39;s total figure. Given Garena&#39;s successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity&#39;s findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.</p><p>Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.</p><p>Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee&#39;s vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2fcb903aed7c0ec901fc83c4f25f18b8\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.</p><p>Lastly, we have the fintech industry pertaining to SeaMoney. In my <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea&#39;s markets.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/47ec896a6208b6023ae89f654704bbc7\" tg-width=\"1261\" tg-height=\"706\" referrerpolicy=\"no-referrer\"/><span>Source: Ark Invest Big Ideas 2022</span></p><p>As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney&#39;s other brands will benefit from this trend. Also of important note, SeaMoney&#39;s expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0eb814b800c3121e3fb8cd0913f239d5\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Source: e-Conomy SEA 2021</span></p><p>As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.</p><p><b>Revenue Model</b></p><p>As mentioned previously, Sea operates three main business segments.</p><p><b>Digital Entertainment</b></p><p>Garena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.</p><p>Investors should take note of how revenue is recognized for this segment. According to Sea&#39;s 10-K:</p><blockquote>Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.</blockquote><p>Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.</p><blockquote>Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.</blockquote><p><b>E-commerce</b></p><p>Shopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.</p><p>Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.</p><p><b>Digital Financial Services</b></p><p>SeaMoney revenue consists of:</p><ul><li>Interest and fees from loans granted to commercial customers</li><li>Interest and fees from Sea&#39;s consumer credit business such as SPayLater</li><li>Commissions charged to merchants when a customer pays using SeaMoney&#39;s mobile wallet</li></ul><p><b>Income Statement</b></p><p>Let&#39;s analyze each of the business segments and then look at the entire Group as a whole.</p><p><b>Digital Entertainment</b></p><p>Garena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/998dfbcf3f3dba11b8f8722710c36ba4\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e06de5e6066b66cd5596a445cd912c98\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3&#39;s QAUs of 729 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c5bdd570a9eb859a9fef8569c9fad10a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3&#39;s 93 million.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/092c4a2f47b9336f2753b4548707b39f\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea&#39;s two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f28c9f35ee55afb5c7d170a80d26ebf2\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.</p><p><b>E-Commerce</b></p><p>Shopee GMV continues its upward march as e-commerce continues to gain traction in Shopee&#39;s existing and newer markets. However, we&#39;re also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4f657f7cacc9e00bc57df0e913fdb9ae\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>GMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5fbc7f044de03ec379f262a5bfcdf331\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27710dc2140a6d139900819f51bd688a\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The faster growth in Revenue was due to Shopee&#39;s increasing take rate, which displays Shopee&#39;s ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e4267bc5d33a2153e8624f73ed71540\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Despite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d27cef61bc9a9058233f7eccc5eaa1\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c0d6aa930a81ea4fc153b7134dbf9d3\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>On the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before &#34;allocation of the headquarters’ common expenses&#34; was $(0.15), an improvement from last year&#39;s $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:</p><blockquote>We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.</blockquote><p><b>Digital Financial Services</b></p><p>SeaMoney&#39;s Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4fa5ef6efa513d9040963fda42b4b9f2\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9397aec066366f40ec92c24187347a44\" tg-width=\"640\" tg-height=\"432\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dcaf6046cf3c27e00b233a8428eb2d75\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Furthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.</p><p>As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney&#39;s AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/51f0d5a1800fef748694417e8cb8fc9f\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>This is the segment that investors should pay special attention to, given that it has the potential to be Sea&#39;s second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney&#39;s long-term margin profile.</p><p><b>Group</b></p><p>With that said, let&#39;s take a look at how the business is doing as a whole.</p><p>FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38de60bd773f3ef7afc4b2e28aa1c08f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Here, we can see how Revenue is distributed across the different segments.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a86e59478db8a3a4fdc85897f24410e9\" tg-width=\"640\" tg-height=\"428\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>What&#39;s encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee&#39;s aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dd978ba4047cc6e20ac6086ba8420a8f\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Operating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fbdbde2c2ae744f36f8168ed32f94d62\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Most of the Operating Expenses were used for Sales &amp; Marketing purposes. Unsurprisingly, Shopee had the highest S&amp;M burn rate. Discounts, cashback, celebrity promotions... they&#39;re everywhere.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5253f186120da17c4cd901e5c442bd1e\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>As a result, Operating Profit Margins is still negative, although it is trending in the right direction.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a27b7833551107397c44acefc5ad2475\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>AEBITDA, on the other hand, is plunging. This is due to Garena&#39;s falling Bookings and Shoppe&#39;s widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d89fb95f74e23e85f8932870c0190bee\" tg-width=\"640\" tg-height=\"430\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>The guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021&#39;s number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.</p><p>On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena&#39;s estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae5e9399a838e5f841dcccaffbe673d8\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Because Garena is such an important piece of Shopee&#39;s and SeaMoney&#39;s growth story, a deceleration in Garena&#39;s business had investors reacting so negatively to Sea&#39;s latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.</p><p><b>Balance Sheet</b></p><p>Sea&#39;s balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dc30ee494abc2eda3b75434b96e4a66b\" tg-width=\"640\" tg-height=\"357\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited FY2021 Q4 Investor Presentation</span></p><p>Adjusting for Sea&#39;s debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8d3d0030e6518cc4198245f624cc75e1\" tg-width=\"640\" tg-height=\"437\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>With net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won&#39;t be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.</p><p><b>Cash Flow Statement</b></p><p>Here is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a0aba061277a1410bb9f3dc176ea0115\" tg-width=\"640\" tg-height=\"263\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p>Unlike other high-flying growth companies, Sea&#39;s Share-Based Compensation expenses are relatively low.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81fa229682c8880d6edd35535ef6a747\" tg-width=\"640\" tg-height=\"419\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Limited Investor Relations and Author&#39;s Analysis</span></p><p><b>Competitive Moats</b></p><p>Based on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.</p><p><b>Brand</b></p><p>As discussed in previous sections, Garena&#39;s games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.</p><p><b>Network Effects</b></p><p>The sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world&#39;s population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.</p><p>With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c641ac08707cc868b9e6004e2deaf950\" tg-width=\"1200\" tg-height=\"600\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee Brazil</span></p><p><b>Barriers To Entry</b></p><p>I believe each of Sea&#39;s core businesses is operating in a winner-takes-most environment with high barriers to entry.</p><p>The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena&#39;s Free Fire is certainly a blockbuster game and time in Free Fire&#39;s game means time away from other mobile games.</p><p>Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and <a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.</p><p>Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.</p><p><b>Valuation</b></p><p>Based on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f2400cd917e5f6ce8c47ef74a8062093\" tg-width=\"640\" tg-height=\"353\" referrerpolicy=\"no-referrer\"/><span>Source: Author&#39;s Analysis</span></p><p>On the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bed1fd805a89523bbb8fa982bee40079\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>In terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fdf589a808c84131e9c36aa7b65a5129\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"/><span>Source: Koyfin</span></p><p>The valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.</p><p><b>Catalysts</b></p><ul><li><b>Successful International Expansion</b> — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee&#39;s growth could turn exponential.</li><li><b>The Metaverse</b> — Sea&#39;s withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.</li></ul><blockquote>We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.</blockquote><ul><li><b>Regional SuperApp</b> — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.</li><li><b>Continued Growth In SeaMoney</b> — SeaMoney is still in its early stages and continued adoption of Sea&#39;s digital financial services offerings will be a strong addition to Sea&#39;s bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.</li><li><b>Free Fire India Ban Lift</b>— Garena&#39;s weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea&#39;s cash burn problems may be eliminated.</li></ul><p><b>Risks</b></p><ul><li><b>The Pressure to Launch Blockbuster Games</b>— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.</li><li><b>Shopee India Ban</b> — With Free Fire banned in India, there&#39;s also the potential for Shoppe to be banned as well.</li><li><b>Failure to Gain Traction in International Markets</b>— Shopee pulled out of France in early March, an indication that Shoppe&#39;s business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.</li><li><b>Geopolitical Risks</b>— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.</li><li><b>Local Competition</b>— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.</li></ul><p>In addition, there&#39;s a certain level of pride for consumers to see their native-born companies succeed. I&#39;m Indonesian, and it makes me really happy to see GoTo grow and grow.</p><p>GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here&#39;s a glance of GoTo&#39;s stats for the 12-months ended 30 September 2021:</p><ul><li>Valuation: $26.2 billion to $28.8 billion</li><li>GMV: $28.8 billion</li><li>Revenue: $1 billion</li><li>Gross Orders: 2 billion</li><li>Annual Transacting Users: 55 million</li><li>Driver Partners: 2.5 million</li><li>Merchants: 14 million</li></ul><p>The point is that there are big-time local players operating in Sea&#39;s markets that investors should never ignore. Here&#39;s a little snippet from my previous Shopee article:</p><blockquote>But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.</blockquote><blockquote>Meanwhile, Sea Limited&#39;s stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo&#39;s integration, Shopee&#39;s vertically-integrated business model doesn&#39;t look like a strong competitive advantage anymore.</blockquote><p><b>Conclusion</b></p><p>Each of Sea&#39;s core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.</p><p>That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company&#39;s unsustainable cash burn rate, which will likely lead to further capital raises in the near future.</p><p>Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.</p><p>Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don&#39;t hesitate to share your thoughts as well.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: The Three-Headed Monster</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\">\nSea Limited: The Three-Headed Monster\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-19 09:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, ...</p>\n\n<a href=\"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4496480-sea-limited-the-three-headed-monster","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2220777059","content_text":"SummaryGarena, Sea’s only profitable segment, serves as a lifeline for its other two segments, but Bookings are expected to fall sharply in FY2022.In addition, Shopee's losses are widening. However, the e-commerce segment is expected to be self-funded by 2025. This is achievable as take rates are trending in the right direction.SeaMoney is also gaining traction at an unprecedented pace, a monster lurking in the shadows. Investors should pay attention as this segment could serve as Sea's second cash cow.With a net cash position of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion.Despite unprofitability risks, Sea has a strong brand, network effects, and barriers to entry moats. The stock is trading at the lowest multiple ever - it is worth a nibble at these prices.undefined undefined/iStock via Getty ImagesI've been following Sea Limited ADR (NYSE:SE) for quite some time now and the stock got me interested again given the recent 75% selloff. Today, I'm doing a deep dive on the three-headed monster (and each of its heads) to see if the company is a good investment opportunity at these levels. Let's get started!Investment ThesisSea is at the forefront of the internet revolution in developing regions. This had many investors buying into the growth story of the company, sending shares soaring high into the sun for the better part of 2020 and 2021. However, the stock has cratered back to sea amid concerns about the company's slowing growth, especially for its only cash cow, Garena. To make matters worse, Shopee's losses are also getting worse.The Group's cash burn rate is still high, estimated to be $(3.6) billion in FY2022. With a net cash position of $5.9 billion, future capital raises are very likely.On the bright side, Sea still has a long growth runway ahead, solidified by its leadership positions in Southeast Asia and Latin America. SeaMoney, although still unprofitable, could also emerge as Sea's second cash cow.Despite unprofitability and competitive risks, Sea has strong competitive moats and it is trading at the cheapest valuation multiples since its IPO.The three-headed monster is a Buy at these levels.Value PropositionFounded in Singapore in 2009, Sea has grown to become the leading consumer internet company in the world, with a substantial presence in the Southeast Asian region.Mission: To better the lives of consumers and small businesses with technology.Sea is a holding company for three core businesses: Garena, Shopee, and SeaMoney. Sea's main value proposition is providing a vertically-integrated experience through its different core businesses.GarenaIts digital entertainment division, Garena, was Sea's first business venture. In fact, Sea was originally named Garena Interactive Holding Limited before changing its name to Sea Limited in 2017.Garena is one of the largest online games developers and publishers, releasing some of the most successful mobile and PC games over the last decade. For example, Garena's Free Fire, its self-developed mobile battle royale game, topped the global download charts for the last three years. According to data.ai, Free Fire also ranked second globally by average monthly active users on Google Play in 2021. In Southeast Asia and Latin America, Free Fire was the highest-grossing mobile game for ten consecutive quarters, and in the US for four consecutive quarters. Based on Sensor Tower's findings, Free Fire still holds the most downloads globally as of January 2022.Source: SensorTowerGarena also exclusively licenses and publishes games from global partners and third-party developers. Some of these partners include Tencent (OTCPK:TCEHY), Activision (ATVI), and Arumgames. Games like Speed Drifters, Arena of Valor, and Fantasy Town fall into this category as they are co-developed with partners or licensed from partners.In addition, Garena organizes some of the largest e-sports events from local tournaments to professional competitions at a global level. Moreover, Garena offers other entertainment content such as live-streaming, user chat, and online forums.ShopeePerhaps the most exciting business segment is Sea's mobile-centric e-commerce platform, Shopee. Launched in 2015, Shopee is now one of the fastest-growing e-commerce marketplaces with a strong presence in Southeast Asia, as well as growing recognition in Latin America and some European countries.Source: ShopeeThrough the Shopee platform, buyers can purchase items from sellers which are primarily small and medium businesses (or mom-and-pop stores). At the same time, larger, more established retailers like Xiaomi (OTCPK:XIACF), Microsoft (MSFT), or Samsung (OTC:SSNLF) can leverage Shopee's two premium shopping platforms, Shopee Mall and Shopee Premium.Along with Shopee's e-commerce marketplace, Shopee also offers adjacent products and services for both buyers and sellers:Service by Shopee - Value-added services for sellers such as integrated payment, logistics, fulfillment, seller support, inventory management, and online store operations.BuyerProtection - Consumer protection policies and procedures including seller verification, product listing screening, and dispute resolution. In addition, Shopee Guarantee reduces settlement risks by holding customers' funds in a separate account until delivery is complete, where funds will be released to buyers.Integrated Logistics Services- Shopee partners with various local and regional third-party logistics service providers to provide a seamless last-mile delivery experience for both buyers and sellers. Shopee also has its own delivery service called Shopee Xpress.Social Features - Shopee also offers other social and gamification features, including Shopee Coins (virtual currency), Shopee Live (livestream), Shopee Games (in-app games), and Shopee Feed (similar to Instagram).On-demand Services- Shopee also recently launched on-demand services such as ShopeeFood, instant delivery, and groceries, competing directly with Grab (GRAB), Gojek, and Uber (UBER).Shopee's scale is unmatched and it is still growing at an unprecedented pace. According to data.ai, Shopee in Southeast Asia and Taiwan ranked first in average monthly active users and total time spent in the app in 2021. Shopee Indonesia, arguably Shopee's most important market, ranked first in the Shopping category. Shopee Brazil, which launched in October 2019, was also ranked first in the Shopping category. And globally, Shopee ranked first in the Shopping category, and is the #13 most downloaded app regardless of category, logging in 200+ million downloads in 2021.Source: SensorTowerSeaMoneySeaMoney was launched in 2014 and is now one of the leading digital financial services providers in Sea's operating countries. SeaMoney offers mobile wallet services, payment processing, credit, and other digital financial services. These services are offered under SeaMoney's various brands including AirPay, ShopeePay, SPayLater, and other local brands depending on the country. SeaMoney was initially launched in Vietnam and Thailand but has since expanded to other regions.Through SeaMoney's mobile wallet offerings, consumers and merchants have added flexibility in terms of payment options, whether through online or offline means. The launch of SPayLater, which is basically a \"buy now pay later\" payment option, enables consumers to purchase items without accessing credit. For those who are interested, I've written a deep dive on Affirm (AFRM) where I discuss the main value propositions that BNPL provides.SeaMoney has obtained bank licenses and government approvals to provide financial services in various countries. For example, Sea acquired Bank Kesejahteraan Ekonomi in Indonesia back in early 2021 as a push towards offering a digital banking solution. The company is now rebranded to SeaBank, which currently offers a high-yield savings account and virtual account.Source: SeaBank WebsiteSeaMoney's main value proposition lies in offering a mobile wallet and payment solutions that are integrated with Sea's other businesses, namely Garena and Shopee, enabling consumers and merchants to transact seamlessly in one vertically-integrated platform.Market OpportunitySea's market opportunity is predicated around the industry outlook of each of its business segments: mobile gaming, e-commerce, and fintech. Let's take a look at each industry that Sea operates in.First, we have the mobile gaming industry. According to data.ai, Mobile Game Consumer Spend grew from $74 billion in 2018 to $116 billion in 2021, while Mobile Game Downloads grew from 63 billion in 2018 to 83 billion in 2021. Among the Top Genres by Downloads were Hypercasual games such as Hair Challenge and Water Sort Puzzle. However, the Top Genres by Consumer Spend belong to the Strategy, RPG, and Shooting categories where Garena specializes in. For example, Free Fire was the top Shooting game by revenue in Thailand, Brazil, Mexico, and the US, in 2021. Globally, however, it is still behind PUBG Mobile, which generates the bulk of its revenue from China.Source: SensorTowerAccording to Adjust, the mobile gaming industry is expected to reach $272 billion by 2030, which is about 1.5x of 2021's total figure. Given Garena's successes in monetizing its games, Garena should continue to enjoy gaming tailwinds in the foreseeable future, provided that its games remain in trend. This is also supported by Unity's findings that the APAC region is the fastest-growing regional market, a market that Garena dominates in.Moving on to e-commerce, we all know that e-commerce is growing rapidly and that its market share as a whole will continue to trend up from here. This is especially true for the Southeast Asian region where internet and smartphone adoption continues to increase by the day. Based on the e-Conomy SEA report, Southeast Asia now has 440 million internet users, up from 360 million in 2019. Its total population is about 589 million.Internet Gross Merchandise Value, or GMV, for the region was $170 billion in 2021 and is expected to reach $360 billion by 2025 with e-commerce leading the charge. The shift to e-commerce is not only happening on the consumer side but also on the merchant side. Digital marketing tools, analytical tools, and digital payment solutions have accelerated business for merchants. Shopee's vertically-integrated platform also makes it easy for merchants in these developing countries to set up shop, distribute goods, and accept payments in a single platform.Source: e-Conomy SEA 2021Furthermore, Sea has recently expanded its e-commerce operations to other regions such as Latin America and Europe, which further expands its market opportunity.Lastly, we have the fintech industry pertaining to SeaMoney. In my PayPal (PYPL) deep dive, I discussed the growth of mobile wallets as a payment method in both online and offline transactions. The shift to a cashless and cardless society is inevitable and that is also true for Sea's markets.Source: Ark Invest Big Ideas 2022As you can see below, mobile wallets continue to gain traction in Southeast Asia. In addition, 92% of digital merchants intend to maintain usage or increase usage of digital payments in the next 1 to 2 years. ShopeePay and SeaMoney's other brands will benefit from this trend. Also of important note, SeaMoney's expansion to buy now pay later with SPayLater will be a key GMV and revenue driver for the segment. These are the reasons why some investors are so bullish on SeaMoney and why SeaMoney is a monster lurking in the shadows.Source: e-Conomy SEA 2021As you can see, Sea is at the forefront of three megatrends which should propel the business forward from here. Also, combining the different verticals in the same platform would present a significant synergistic opportunity as Sea establishes itself as a SuperApp in the making.Revenue ModelAs mentioned previously, Sea operates three main business segments.Digital EntertainmentGarena operates a freemium model whereby users can download and play games for free. The company generates revenue by selling in-game virtual items such as clothing, weaponry, or equipment.Investors should take note of how revenue is recognized for this segment. According to Sea's 10-K:Proceeds from these sales are initially recognized as “Advances from customers” and subsequently reclassified to “Deferred revenue” when the users make in-game purchases of the virtual currencies or virtual items within the games operated by the Company and the in-game purchases are no longer refundable.Garena also licenses games from other game developers. Revenue is generated based on revenue-sharing/royalty agreements with these developers. Revenue is recognized over the performance obligation period.Such delivery obligation period is determined in accordance with the estimated average lifespan of the virtual goods sold or estimated average lifespan of the paying users of the said games or similar games.E-commerceShopee generates revenue through a marketplace model. Sellers on the platform pay Shopee based on paid advertisement services, transaction-based fees, logistics services, and other value-added services.Shopee also generates revenue from goods sold directly by Shopee, which the company purchases in bulk from manufacturers or third-party suppliers.Digital Financial ServicesSeaMoney revenue consists of:Interest and fees from loans granted to commercial customersInterest and fees from Sea's consumer credit business such as SPayLaterCommissions charged to merchants when a customer pays using SeaMoney's mobile walletIncome StatementLet's analyze each of the business segments and then look at the entire Group as a whole.Digital EntertainmentGarena Revenue saw a 104% increase YoY in Q4. For the full year, Garena Revenue was up 114% YoY.Source: Sea Limited Investor Relations and Author's AnalysisThe rapid increase in Revenue was primarily due to recognition of accumulated deferred revenue from previous quarters. Bookings—which is essentially GAAP Revenue plus the change in digital entertainment deferred revenue —actually dropped for the first time QoQ and it is now lower than Revenue. This means that gamers are spending less on in-virtual items which will lead to lower Revenue recognized in subsequent quarters. As you can see, Bookings is in a massive deceleration.Source: Sea Limited Investor Relations and Author's AnalysisThe drop in Bookings was due to fewer gamers in the platform as the economy reopens and people spend more time outdoors, at school, or in the office. Quarterly Active Users, or QAUs, grew only 7% in Q4 to 652 million, compared to Q3's QAUs of 729 million.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Quarterly Paying Users, or QPUs, decelerated as well, which led to lower Bookings. Q4 QPUs was 77 million compared to Q3's 93 million.Source: Sea Limited Investor Relations and Author's AnalysisThe markets reacted negatively to this slowdown in Garena growth as the gaming business acts as the lifeline for Sea's two other segments. As you can see, Garena is a high-margin business, producing Adjusted EBITDA of $2.7 billion in FY2021. Operating Margin is very high at 61% in Q4. AEBITDA margin, on the other hand, is trending downwards as QoQ adds in Bookings wither.Source: Sea Limited Investor Relations and Author's AnalysisAs such, the slowdown in growth for Garena is scaring investors away as it may not provide sufficient cash flow to fund the continued growth of Shopee and SeaMoney.E-CommerceShopee GMV continues its upward march as e-commerce continues to gain traction in Shopee's existing and newer markets. However, we're also seeing a deceleration in growth due to tough YoY comps. GMV in FY2021 was $62.5 billion, an increase of 77%.Source: Sea Limited Investor Relations and Author's AnalysisGMV growth was also due to an increase in Orders in the Shopee platform, which totaled 6.1 billion in FY2021, an increase of 117%. Average Order Value, or AOV, however, is trending downwards. This may be perceived negatively as processing more lower-AOV orders meant higher logistical expenses and thus lower margins per order.Source: Sea Limited Investor Relations and Author's AnalysisThe increase in GMV translated to higher Shopee Revenue, which grew faster than GMV. Shopee Revenue grew 136% to $5.1 billion in FY2021, as compared to GMV growth of 77%.Source: Sea Limited Investor Relations and Author's AnalysisThe faster growth in Revenue was due to Shopee's increasing take rate, which displays Shopee's ability to monetize its marketplace platform. This is one of the only few positive developments coming out of the most recent earnings update.Source: Sea Limited Investor Relations and Author's AnalysisDespite the improving Revenue and take rate, Shopee is still suffering huge losses and it is mounting with each subsequent quarter, primarily due to the company expanding into new markets. FY2021 Shopee AEBITDA was $(2.6) billion at a -50% margin. Recall that Garena AEBITDA was $2.7 billion.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA per Order has been improving, although it flat-lined in the last few quarters. Again, this is due to the company aggressively expanding into new markets. For example, in Q4, Shopee Brazil recorded 140+ million gross orders with a $70+ million Revenue, up 400% and 326%, respectively. However, AEBITDA per Order in Brazil is still negative at $(2) per Order, despite being a 40% improvement from last year. As such, it is still a far cry from the overall AEBITDA per Order of $(0.45).Source: Sea Limited Investor Relations and Author's AnalysisOn the bright side, in Southeast Asia and Taiwan, Q4 AEBITDA per Order before \"allocation of the headquarters’ common expenses\" was $(0.15), an improvement from last year's $(0.21). This shows that there is certainly hope for Shopee to be AEBITDA positive soon, which management has pointed out during the Q4 earnings call:We currently expect Shopee to achieve positive adjusted EBITDA before HQ cost allocation in Southeast Asia and Taiwan by this year. We also expect SeaMoney to achieve positive cash flow by next year. As a result, we currently expect that by 2025 cash generated by Shopee and SeaMoney proactively will enable these two businesses to substantially self-fund their own long-term growth.Digital Financial ServicesSeaMoney's Mobile Wallet Total Payment Volume grew 120% YoY to $17.2 billion in FY2021 due to the increasing adoption of mobile wallets in the region.Source: Sea Limited Investor Relations and Author's AnalysisThe growth in TPV was largely driven by the growth in QAUs. As shown below, the total ending QAUs in Q4 grew 90% YoY to 45.8 million users.Source: Sea Limited Investor Relations and Author's AnalysisThe real exciting part is that Revenue grew much faster than TPV and QAUs. SeaMoney Revenue is growing at a blistering pace, locking in high triple-digit growth rates over the last few years. FY2021 SeaMoney Revenue was $470 million, which is an increase of 673% from the previous year. This is due to take rates increasing from less than 1% in FY2020 to almost 4% by the end of the latest quarter.Source: Sea Limited Investor Relations and Author's AnalysisFurthermore, in Indonesia, over 20% of the QAUs have used more than one SeaMoney product or service, which includes credit services, digital banking, and insurance. As SeaMoney introduces more offerings, revenue should accelerate meaningfully as average revenue per user increases when people use additional products.As SeaMoney continues to gain scale, the segment will enjoy better unit economics. As shown below, while SeaMoney's AEBITDA is still in deeply negative territories, AEBITDA Margins has continued to trend towards profitability. Management also expects SeaMoney to be cash flow positive by next year.Source: Sea Limited Investor Relations and Author's AnalysisThis is the segment that investors should pay special attention to, given that it has the potential to be Sea's second cash cow. For example, PayPal has Operating Margins of 20%+, which could be SeaMoney's long-term margin profile.GroupWith that said, let's take a look at how the business is doing as a whole.FY2021 Revenue was $10.0 billion, an increase of 128% YoY. Due to the law of large numbers and tough YoY comps, Revenue growth should decelerate from here.Source: Sea Limited Investor Relations and Author's AnalysisHere, we can see how Revenue is distributed across the different segments.Source: Sea Limited Investor Relations and Author's AnalysisWhat's encouraging is that Gross Profit Margins continue to trend upwards as the company gains economies of scale, even accounting for Shopee's aggressive expansion into new markets. FY2021 Gross Profit was $3.9 billion, up 189% YoY.Source: Sea Limited Investor Relations and Author's AnalysisOperating Expenses, however, remain elevated as management forgoes short-term profitability for long-term market dominance. FY2021 Total Operating Expenses were $5.5 billion. Below shows the different components of Operating Expenses as a percentage of Revenue.Source: Sea Limited Investor Relations and Author's AnalysisMost of the Operating Expenses were used for Sales & Marketing purposes. Unsurprisingly, Shopee had the highest S&M burn rate. Discounts, cashback, celebrity promotions... they're everywhere.Source: Sea Limited Investor Relations and Author's AnalysisAs a result, Operating Profit Margins is still negative, although it is trending in the right direction.Source: Sea Limited Investor Relations and Author's AnalysisAEBITDA, on the other hand, is plunging. This is due to Garena's falling Bookings and Shoppe's widening losses. AEBITDA for FY2021 was $(594) million, compared to FY2020 positive AEBITDA of $107 million. This is probably the most concerning figure for investors as such a high cash burn rate is unsustainable, which may also lead to additional capital raises that are dilutive to shareholders.Source: Sea Limited Investor Relations and Author's AnalysisThe guidance did not help either. Garena Bookings is expected to fall to just $3 billion, which is $1.3 billion lower than FY2021's number. Management blamed the reopening of the economy as well as the ban of Free Fire in India for the expected drop in Bookings. Assuming a modest 50% AEBITDA margin, Garena would bring in just $1.5 billion of AEBITDA for Sea in FY2022.On the other side, the other two segments are expected to continue with their immense pace of growth — Shopee and SeaMoney are expected to grow by 76% and 155%, respectively. If we assume a (50)% AEBITDA margin for both segments, Shopee and SeaMoney is expected to burn a total of about $(5.1) billion of AEBITDA. Adding Garena's estimated AEBITDA of $1.5 billion, Sea, as a Group, is expected to burn $(3.6) billion in FY2021.Source: Sea Limited FY2021 Q4 Investor PresentationBecause Garena is such an important piece of Shopee's and SeaMoney's growth story, a deceleration in Garena's business had investors reacting so negatively to Sea's latest earnings release, as now, the gaming business is incapable of covering the massive losses incurred by the other two business segments.Balance SheetSea's balance sheet position as of year-end FY2021 is at about $10.2 billion of Cash and Short Term Investments. While this may show that Sea has a substantial cushion against its short-term cash burn rate, its net cash position paints a different picture.Source: Sea Limited FY2021 Q4 Investor PresentationAdjusting for Sea's debt, Sea ended the year with a net cash position of around $5.9 billion. A substantial amount of its total debt comes from its recent issuance of 0.25% Convertible Senior Notes due 2026. The notes were issued when the stock was trading at $318 per share back in September and the initial conversion price is set at $477 per share. So, yes... conversion in the next 2 to 3 years is very unlikely.Source: Sea Limited Investor Relations and Author's AnalysisWith net cash of $5.9 billion and $(3.6) billion of estimated AEBITDA in FY2022, it won't be long before Sea requires another cash infusion. Therefore, if the high cash burn rate persists for the next 2 to 3 years, investors face a major risk of increasing financial leverage and/or dilution in the form of equity raises.Cash Flow StatementHere is what cash flow looks like over the last few quarters. Notice how Operating Cash Flow turned negative in the last quarter. Most of the cash also comes from Financing activities.Source: Sea Limited Investor Relations and Author's AnalysisUnlike other high-flying growth companies, Sea's Share-Based Compensation expenses are relatively low.Source: Sea Limited Investor Relations and Author's AnalysisCompetitive MoatsBased on my research and analysis, I identified three key competitive moats for Sea: brand, network effects, and barriers to entry. I used to think that Sea has cost advantages but as Garena becomes a smaller part of the overall business, and as losses continue to worsen, I have reason to believe that Sea no longer holds that moat.BrandAs discussed in previous sections, Garena's games, particularly Free Fire, have consistently ranked as the most downloaded mobile game in the world. Additionally, the Shopee app has gained cross-border stardom and is now regarded as the most downloaded or fastest-trending shopping App in the countries it operates in. Lastly, SeaMoney is also gaining traction with banking licenses granted in various countries that should increase brand value and trust.Network EffectsThe sheer amount of app downloads leads to powerful network effects. Garena has 652 million QAUs, which is about 8% of the world's population. Shopee recorded 200+ million app downloads in FY2021 alone. SeaMoney QAUs topped 45.8 million in Q4 and it is still in the early stages of adoption.With all these users in the Sea platform, cross-selling new products or services should be easier as Sea continues to scale. One such example is Shopee Brazil and Free Fire where each platform is encouraging consumers to use the other. As Sea continues to innovate and offer better experiences for its customers, the ecosystem gets bigger and tighter, leading to powerful network effects.Source: Shopee BrazilBarriers To EntryI believe each of Sea's core businesses is operating in a winner-takes-most environment with high barriers to entry.The mobile gaming environment requires the most talented developers to launch blockbuster games. Garena's Free Fire is certainly a blockbuster game and time in Free Fire's game means time away from other mobile games.Just like how Amazon (AMZN) dominates in the US, the e-commerce landscape in Southeast Asia and Latin America is dominated by a few players, such as Shopee, Tokopedia, and MercadoLibre (MELI). The scale and unit economics that these players have achieved makes it unsustainable for new entrants to compete with them.Banking and fintech is also a highly-regulated environment. Furthermore, consumers prefer to have just one mobile wallet, such as ShopeePay, as opposed to owning several different fintech applications.ValuationBased on my sum-of-the-parts and comparable company valuation analysis, Sea looks to be slightly undervalued with 19% upside potential. Of course, comparables are not perfect but based on this, we can gauge where Sea stands among peers.Source: Author's AnalysisOn the flip side, Sea looks extremely cheap on a historical basis. In terms of EV/Sales, Sea is trading at the lowest valuation since its IPO, trading at just 4.2x forward sales.Source: KoyfinIn terms of EV/Gross Profit, Sea is trading even cheaper than its March 2020 lows.Source: KoyfinThe valuation compression is warranted given that the company flew too close to the sun and now it is cratering back to the sea — not just for Sea, but almost all growth stocks took a beating. Growth is also slowing down and the macroeconomic environment looks gloomier than ever. However, this is not the end of the world; I think the markets are overreacting. Diversion from the mean goes both ways — perhaps, current prices present a good margin of safety for long-term investors.CatalystsSuccessful International Expansion — Shopee has been successful in replicating its playbook from Southeast Asia to Brazil. Recently, Shopee launched operations in India, Mexico, Chile, Colombia, Argentina, Poland, and Spain. If Shopee can take substantial market share in these new regions, Shopee's growth could turn exponential.The Metaverse — Sea's withering gaming division needs to be revitalized. New games and features could definitely provide the boost that it needs. For example, the metaverse is an exciting opportunity and Garena could introduce this concept to its 600+ million QAUs. Sea AI Lab (SAIL) and Sea Capital are two ventures that could accelerate the company into emerging industries, including the metaverse.We will continue to encourage user-generated content by enhancing greater features and accessibility. We believe that a strong user reception to Craftland is a positive indicator of the initial success to encourage user participation in content creation and to build Free Fire into an increasingly open platform and is well aligned with major emerging industry trends such as metaverse.Regional SuperApp — Although this concept has yet to be discussed by management, launching a regional SuperApp could enhance user engagement to new levels. For example, imagine Shopee users being able to play games, shop, order food delivery, pay for services, transfer money, invest, all under one app. Imagine users being able to convert their deposited funds in ShopeePay, into ShopeeCoins, and use it to perform cross-border transactions.Continued Growth In SeaMoney — SeaMoney is still in its early stages and continued adoption of Sea's digital financial services offerings will be a strong addition to Sea's bull thesis. SPayLater has real potential to disrupt the consumer credit industry. SeaBank and ShopeePay have the opportunity to capture digital wallet, digital banking, and cashless society trends.Free Fire India Ban Lift— Garena's weak guidance factored in the headwinds coming from the ban in India. If the ban is lifted, the stock may react positively as much of Sea's cash burn problems may be eliminated.RisksThe Pressure to Launch Blockbuster Games— There will come a time when Free Fire will be dethroned as the most-played and most-downloaded game. That is just how the gaming business works. This puts a substantial risk on the cash flow generation potential of Garena. Launching blockbuster games is never easy and it requires many trials and errors along the way. For me, I would like to see Garena shift to a gaming franchise model where the company launches an updated version of an existing game every year or two, which presents a more stable and recurring revenue stream for the company. An example would be FIFA or Call of Duty.Shopee India Ban — With Free Fire banned in India, there's also the potential for Shoppe to be banned as well.Failure to Gain Traction in International Markets— Shopee pulled out of France in early March, an indication that Shoppe's business model is not replicable in other countries, especially in more developed regions. Shopee Poland and Spain may be next on the exit list as they hold a close resemblance to France.Geopolitical Risks— Tencent, a Chinese company, has an 18.7% equity stake in Sea. Sanctions, bans, and other restrictions on Chinese companies, given the current geopolitical environment, could spell trouble for Sea. Tencent may have to cut exposure on Sea or even dissolve its developing-publishing partnership with Garena.Local Competition— Local champions operating in their respective markets cannot be ignored. These include GoTo in Indonesia, MercadoLibre in Latin America, and Flipkart in India.In addition, there's a certain level of pride for consumers to see their native-born companies succeed. I'm Indonesian, and it makes me really happy to see GoTo grow and grow.GoTo, the holding company of both Indonesian tech darlings Gojek and Tokopedia, recently announced its plan to IPO in the Indonesia Stock Exchange. Here's a glance of GoTo's stats for the 12-months ended 30 September 2021:Valuation: $26.2 billion to $28.8 billionGMV: $28.8 billionRevenue: $1 billionGross Orders: 2 billionAnnual Transacting Users: 55 millionDriver Partners: 2.5 millionMerchants: 14 millionThe point is that there are big-time local players operating in Sea's markets that investors should never ignore. Here's a little snippet from my previous Shopee article:But with the GoTo merger, Indonesia could potentially extinguish the orange flame that charred its forest for many years. Now, GoTo could finally reclaim a good chunk of its territory that was lost to waves of competition, especially from Shopee. GoTo could finally gain more ground as the roots grew even stronger with the merger, fertilized with the synergies of value propositions, logistics, payments, and banking solutions.Meanwhile, Sea Limited's stock continues to soar, ignoring the titan of an elephant in the room. And because of GoTo's integration, Shopee's vertically-integrated business model doesn't look like a strong competitive advantage anymore.ConclusionEach of Sea's core businesses is in hypergrowth mode, propelled by megatrends in the mobile gaming, e-commerce, and fintech industry. Management understands these opportunities and therefore, is sacrificing short-term profitability for long-term market dominance. Despite being a larger business, Sea still has a massive growth runway ahead.That is not to say that unprofitability and competition risks can and should be ignored. The biggest concern for investors is the company's unsustainable cash burn rate, which will likely lead to further capital raises in the near future.Nonetheless, the long-term growth thesis for the three-headed monster remains intact. Strong brand, network effects, and barriers to entry moats should support the business going forward. In addition, shares of Sea are trading at the lowest valuation multiples ever, which presents a good margin of safety for an entry at these prices.Thank you for reading my Sea Limited deep dive. If you enjoyed the article, please let me know in the comment section down below. If you have any suggestions or feedback, don't hesitate to share your thoughts as well.","news_type":1},"isVote":1,"tweetType":1,"viewCount":539,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818372400,"gmtCreate":1630380061700,"gmtModify":1676530286670,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/818372400","repostId":"1168575044","repostType":4,"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171783480,"gmtCreate":1626764594540,"gmtModify":1703764757212,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good stuff to read.","listText":"Good stuff to read.","text":"Good stuff to read.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/171783480","repostId":"1120865210","repostType":4,"repost":{"id":"1120865210","pubTimestamp":1626763959,"share":"https://ttm.financial/m/news/1120865210?lang=&edition=fundamental","pubTime":"2021-07-20 14:52","market":"us","language":"en","title":"Tesla China-Made Car Sales Continue Climb Back Toward Record","url":"https://stock-news.laohu8.com/highlight/detail?id=1120865210","media":"Bloomberg","summary":"Tesla Inc.saw registrations of its Chinese-made cars climb again last month as promotions toward the","content":"<p>Tesla Inc.saw registrations of its Chinese-made cars climb again last month as promotions toward the quarter-end helped offset a string of negative press around customer complaints and quality concerns.</p>\n<p>Registrations of Model 3 sedans and Model Y sports utility vehicles made at Tesla’s Shanghai factory totaled 28,508 units in June, a 29% increase from May and more than double the figure in April, data from China Automotive Information Net show. Model 3 registrations rebounded to 16,995, while Model Y’s hit 11,513, a 10% drop from May.</p>\n<p>The strong showing for Model 3 sedans can partly be attributed to Tesla promotions that included preferential loans and discounts for full upfront payments, local media reported. The carmaker started delivering Model 3s from its Shanghai factory to the public in early 2020, with Model Y production coming later.</p>\n<p>Tesla has faced challenges in China in recent months, including a major recall for a software fix and some negative publicity after a protester climbed on one of its vehicles at the Shanghai Auto Show in April and claimed a brake failure in a Model 3 had caused a crash, nearly killing four members of her family.</p>\n<p>Data from China’s Passenger Car Association earlier this month showed overall retail sales of new-energy vehicles at about 1 million for the first half of the year. Tesla registrations, including a handful that were imported, totaled 132,228 in that period.</p>\n<p>Tesla has introduced acheaper versionof its locally-built Model Y sports utility to boost sales in the world’s largest auto market in the second half. The so-called standard-range version starts from 276,000 yuan ($42,600) after government subsidies, about 20% less than the original longer-range Model Y.Nio Inc.’s ES6 SUV, which competes head-to-head with the Model Y, starts at 358,000 yuan.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla China-Made Car Sales Continue Climb Back Toward Record</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla China-Made Car Sales Continue Climb Back Toward Record\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-20 14:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-20/tesla-china-made-car-sales-continue-climb-back-toward-record><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla Inc.saw registrations of its Chinese-made cars climb again last month as promotions toward the quarter-end helped offset a string of negative press around customer complaints and quality ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-20/tesla-china-made-car-sales-continue-climb-back-toward-record\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-20/tesla-china-made-car-sales-continue-climb-back-toward-record","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120865210","content_text":"Tesla Inc.saw registrations of its Chinese-made cars climb again last month as promotions toward the quarter-end helped offset a string of negative press around customer complaints and quality concerns.\nRegistrations of Model 3 sedans and Model Y sports utility vehicles made at Tesla’s Shanghai factory totaled 28,508 units in June, a 29% increase from May and more than double the figure in April, data from China Automotive Information Net show. Model 3 registrations rebounded to 16,995, while Model Y’s hit 11,513, a 10% drop from May.\nThe strong showing for Model 3 sedans can partly be attributed to Tesla promotions that included preferential loans and discounts for full upfront payments, local media reported. The carmaker started delivering Model 3s from its Shanghai factory to the public in early 2020, with Model Y production coming later.\nTesla has faced challenges in China in recent months, including a major recall for a software fix and some negative publicity after a protester climbed on one of its vehicles at the Shanghai Auto Show in April and claimed a brake failure in a Model 3 had caused a crash, nearly killing four members of her family.\nData from China’s Passenger Car Association earlier this month showed overall retail sales of new-energy vehicles at about 1 million for the first half of the year. Tesla registrations, including a handful that were imported, totaled 132,228 in that period.\nTesla has introduced acheaper versionof its locally-built Model Y sports utility to boost sales in the world’s largest auto market in the second half. The so-called standard-range version starts from 276,000 yuan ($42,600) after government subsidies, about 20% less than the original longer-range Model Y.Nio Inc.’s ES6 SUV, which competes head-to-head with the Model Y, starts at 358,000 yuan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":765,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9032229048,"gmtCreate":1647388948038,"gmtModify":1676534223071,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9032229048","repostId":"2219372817","repostType":4,"repost":{"id":"2219372817","pubTimestamp":1647386525,"share":"https://ttm.financial/m/news/2219372817?lang=&edition=fundamental","pubTime":"2022-03-16 07:22","market":"us","language":"en","title":"After-Hours Stock Movers: SentinelOne, Allbirds, Catalyst Biosciences, Iovance Biotherapeutics and More","url":"https://stock-news.laohu8.com/highlight/detail?id=2219372817","media":"StreetInsider","summary":"After-Hours Stock Movers:Catalyst Biosciences, Inc. (NASDAQ: CBIO) 14.6% HIGHER; announced that the ","content":"<html><head></head><body><p>After-Hours Stock Movers:</p><p><a href=\"https://laohu8.com/S/CBIO\">Catalyst Biosciences</a>, Inc. (NASDAQ: CBIO) 14.6% HIGHER; announced that the company has regained full rights to CB 2782-PEG, a C3-degrader for the treatment of dry <a href=\"https://laohu8.com/S/AMD\">AMD</a> (dAMD). Under the terms of the agreement, Biogen has returned the rights for further development on CB 2782-PEG and has ended the collaboration on other potential AMD treatments.</p><p><a href=\"https://laohu8.com/S/IOVA\">Iovance Biotherapeutics, Inc.</a> (NASDAQ: IOVA) 11.8% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has allowed an Investigational New Drug Application (IND) to proceed for its first genetically modified TIL therapy, IOV-4001, for the treatment of unresectable or metastatic melanoma and stage III or IV NSCLC.</p><p><a href=\"https://laohu8.com/S/MKFG\">Markforged Holding Corporation</a> (NYSE: MKFG) 9.4% HIGHER; reported Q4 EPS of $0.02, $0.10 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $26.6 million versus the consensus estimate of $24.51 million. Markforged Holding Corporation sees FY2022 revenue of $114-123 million, versus the consensus of $120.3 million</p><p><a href=\"https://laohu8.com/S/SMAR\">Smartsheet</a> (NYSE: SMAR) 6.9% LOWER; reported Q4 EPS of ($0.12), $0.03 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $157.4 million versus the consensus estimate of $151.66 million. Smartsheet sees Q1 2023 EPS of ($0.20)-($0.18), versus the consensus of ($0.11). Smartsheet sees Q1 2023 revenue of $162-163 million, versus the consensus of $159.83 million. Smartsheet sees FY2023 EPS of ($0.70)-($0.62), versus the consensus of ($0.27). Smartsheet sees FY2023 revenue of $750-755 million, versus the consensus of $730.11 million.</p><p><a href=\"https://laohu8.com/S/BRDS\">Bird Global</a> (NYSE: BRDS) 6.3% LOWER; reported Q4 revenue of $54 million versus the consensus estimate of $50.78 million. Bird Global sees Q1 2022 revenue of $34-36 million, versus the consensus of $49 million. Bird Global sees FY2022 revenue of at least $350 million, versus the consensus of $381.7 million.</p><p><a href=\"https://laohu8.com/S/S\">SentinelOne, Inc</a>. (NYSE: S) 4.5% LOWER; reported Q4 EPS of ($0.17), $0.01 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $65.6 million versus the consensus estimate of $60.65 million. SentinelOne, Inc. sees Q1 2023 revenue of $74-75 million, versus the consensus of $68.2 million. SentinelOne, Inc. sees FY2023 revenue of $366-370 million, versus the consensus of $346.2 million.</p><p>Caleres (NYSE: CAL) 4.4% HIGHER; reported Q4 EPS of $0.91, $0.24 better than the analyst estimate of $0.67. Revenue for the quarter came in at $679.3 million versus the consensus estimate of $677.21 million. Caleres sees FY2022 EPS of $3.75-$4.00, versus the consensus of $4.03.</p><p><a href=\"https://laohu8.com/S/BIRD\">Allbirds, Inc.</a> (NASDAQ: BIRD) 4.2% HIGHER; CFO, Michael Bufano, bought 25,000 shares on 03/14/22 at an average price of $5.1661. The value of the transaction was $129,152</p><p>Butterfly Network (NYSE: BFLY) 2% HIGHER; Director, Larry Robbins of Glenview Capital, bought 500,000 shares through the hedge fund.</p></body></html>","source":"highlight_streetinsider","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>After-Hours Stock Movers: SentinelOne, Allbirds, Catalyst Biosciences, Iovance Biotherapeutics and More</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\">\nAfter-Hours Stock Movers: SentinelOne, Allbirds, Catalyst Biosciences, Iovance Biotherapeutics and More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-16 07:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=19780631><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After-Hours Stock Movers:Catalyst Biosciences, Inc. (NASDAQ: CBIO) 14.6% HIGHER; announced that the company has regained full rights to CB 2782-PEG, a C3-degrader for the treatment of dry AMD (dAMD). ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=19780631\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4022":"陆运","BK4561":"索罗斯持仓","SMAR":"Smartsheet","BK4097":"系统软件","BK4139":"生物科技","BK4161":"工业机械","BK4560":"网络安全概念","CAL":"Caleres鞋业","BK4528":"SaaS概念","S":"SentinelOne, Inc","IOVA":"Iovance Biotherapeutics, Inc.","BIRD":"Allbirds, Inc.","BRDS":"Bird Global","MKFG":"Markforged Holding Corporation"},"source_url":"https://www.streetinsider.com/dr/news.php?id=19780631","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2219372817","content_text":"After-Hours Stock Movers:Catalyst Biosciences, Inc. (NASDAQ: CBIO) 14.6% HIGHER; announced that the company has regained full rights to CB 2782-PEG, a C3-degrader for the treatment of dry AMD (dAMD). Under the terms of the agreement, Biogen has returned the rights for further development on CB 2782-PEG and has ended the collaboration on other potential AMD treatments.Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 11.8% HIGHER; announced that the U.S. Food and Drug Administration (FDA) has allowed an Investigational New Drug Application (IND) to proceed for its first genetically modified TIL therapy, IOV-4001, for the treatment of unresectable or metastatic melanoma and stage III or IV NSCLC.Markforged Holding Corporation (NYSE: MKFG) 9.4% HIGHER; reported Q4 EPS of $0.02, $0.10 better than the analyst estimate of ($0.08). Revenue for the quarter came in at $26.6 million versus the consensus estimate of $24.51 million. Markforged Holding Corporation sees FY2022 revenue of $114-123 million, versus the consensus of $120.3 millionSmartsheet (NYSE: SMAR) 6.9% LOWER; reported Q4 EPS of ($0.12), $0.03 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $157.4 million versus the consensus estimate of $151.66 million. Smartsheet sees Q1 2023 EPS of ($0.20)-($0.18), versus the consensus of ($0.11). Smartsheet sees Q1 2023 revenue of $162-163 million, versus the consensus of $159.83 million. Smartsheet sees FY2023 EPS of ($0.70)-($0.62), versus the consensus of ($0.27). Smartsheet sees FY2023 revenue of $750-755 million, versus the consensus of $730.11 million.Bird Global (NYSE: BRDS) 6.3% LOWER; reported Q4 revenue of $54 million versus the consensus estimate of $50.78 million. Bird Global sees Q1 2022 revenue of $34-36 million, versus the consensus of $49 million. Bird Global sees FY2022 revenue of at least $350 million, versus the consensus of $381.7 million.SentinelOne, Inc. (NYSE: S) 4.5% LOWER; reported Q4 EPS of ($0.17), $0.01 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $65.6 million versus the consensus estimate of $60.65 million. SentinelOne, Inc. sees Q1 2023 revenue of $74-75 million, versus the consensus of $68.2 million. SentinelOne, Inc. sees FY2023 revenue of $366-370 million, versus the consensus of $346.2 million.Caleres (NYSE: CAL) 4.4% HIGHER; reported Q4 EPS of $0.91, $0.24 better than the analyst estimate of $0.67. Revenue for the quarter came in at $679.3 million versus the consensus estimate of $677.21 million. Caleres sees FY2022 EPS of $3.75-$4.00, versus the consensus of $4.03.Allbirds, Inc. (NASDAQ: BIRD) 4.2% HIGHER; CFO, Michael Bufano, bought 25,000 shares on 03/14/22 at an average price of $5.1661. The value of the transaction was $129,152Butterfly Network (NYSE: BFLY) 2% HIGHER; Director, Larry Robbins of Glenview Capital, bought 500,000 shares through the hedge fund.","news_type":1},"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9034285682,"gmtCreate":1647907248060,"gmtModify":1676534277445,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9034285682","repostId":"1163374302","repostType":4,"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9034024927,"gmtCreate":1647739212320,"gmtModify":1676534261620,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9034024927","repostId":"1141629779","repostType":4,"repost":{"id":"1141629779","pubTimestamp":1647738357,"share":"https://ttm.financial/m/news/1141629779?lang=&edition=fundamental","pubTime":"2022-03-20 09:05","market":"us","language":"en","title":"7 Hot Growth Stocks That Are Poised to Triple This Year","url":"https://stock-news.laohu8.com/highlight/detail?id=1141629779","media":"InvestorPlace","summary":"These growth stocks will get big lifts from powerful, ongoing trendsSource: Who is Danny / Shutterst","content":"<html><head></head><body><p>These growth stocks will get big lifts from powerful, ongoing trends</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6130bd5b79eee9cfb9099d56dbfdc385\" tg-width=\"1024\" tg-height=\"576\" width=\"100%\" height=\"auto\"/><span>Source: Who is Danny / Shutterstock.com</span></p><p>The macroeconomic stars might very well be aligned for a big rebound by the stock market. First of all, as <i>Investor’s Business Daily</i> reported on March 13, despite the “market correction” the “indexes (are) off [their] lows.” The latter development is very positive; it indicates that the worst of the correction — and the year-long decline by growth stocks — may very well be behind us.</p><p>Likely calming the markets are the realization by many investors that the interest rate hikes and the Russian-Ukrainian war probably will not cause the proverbial sky to fall. Interest rates will remain historically low, and high oil prices only caused a U.S. recession once, in 1973 when the cost of petroleum quickly quadrupled.</p><p>Moreover, with the EU having enough natural gas to make it through winter, a lack of Russian natural gas won’t lead to disaster for those countries. And the U.S., the EU and Russia will, in all likelihood, continue to seek to prevent the conflict from widening.</p><p>Also encouragingly, “legendary quant investor Louis Navellier” expects the market to surge in the second half of March,<i>InvestorPlace</i> Contributing Editor Jeff Remsberg recently reported.</p><p>With investors becoming less fearful, there’s a good chance that growth stocks will rebound.</p><p>Among my favorite sectors now are solar energy names,electric vehicle (EV) charging companies, mining companies and biotech firms. I believe that the market is, in general, greatly underestimating the strength of these groups.</p><p>With that in my mind, these seven hot growth stocks definitely have what it takes to triple during the rest of the year:</p><ul><li><b>EVgo</b>(NASDAQ:<b><u>EVGO</u></b>)</li><li><b>ChargePoint Holdings</b>(NYSE:<b><u>CHPT</u></b>)</li><li><b>Shoals</b>(NASDAQ:<b><u>SHLS</u></b>)</li><li><b>Freeport McMoran</b>(NYSE:<b><u>FCX</u></b>)</li><li><b>Novavax</b>(NASDAQ:<b><u>NVAX</u></b>)</li><li><b>Enphase Energy</b>(NASDAQ:<b><u>ENPH</u></b>)</li><li><b>Plug Power</b>(NASDAQ:<b><u>PLUG</u></b>)</li></ul><p><b>EVgo (EVGO)</b></p><p>From Feb. 24 to March 10, the shares jumped 30%. The rally came after the EV charging company announced that it had made deals to provide fast chargers for some customers of two huge Japanese automakers — <b>Subaru</b> and <b>Toyota</b>(NYSE:<b><u>TM</u></b>).</p><p>On Feb. 1, EVgo and Midwestern retailer Meije announced that the first of five EVgo charging stations had been opened at a Meijer store. EVgo indicated that it would add many more charging stations in partnership with the retailer, which has “more than 240 stores.”</p><p>EVgo reports that it has the “largest public fast charging network for electric vehicles” in the U.S. and is likely to add many more retail and hotel partners down the road. And making EVgo more attractive for automotive, hotel, and retail partners, the company says that it’s the “only public network powered by 100% renewable electricity.”</p><p>Also likely fueling EVgo’s surge was ChargePoint’s stronger-than-expected fourth quarter revenue and full-year sales guidance, which I will describe in some detail in the next section.</p><p><b>ChargePoint Holdings (CHPT)</b></p><p>The EV charging company reported that its sales had soared 90% year-over-year in the fourth quarter to $80.7 million, exceeding analysts’ average outlook by $4.6 million. And for its upcoming fiscal year, ChargePoint predicted that its sales would come in at $450 million – $500 million. The company stated that: “At the midpoint, this (guidance) represents an anticipated increase of 96% as compared to the prior year.” The guidance was also way above analysts’ average estimate of $238 million.</p><p>Reacting to the results and guidance,<b>Oppenheimer’s</b> (NYSE:<b><u>OPY</u></b>) Colin Rusch wrote that, “We believe the company is executing well on port growth and is gaining traction in the EU with the aid of its recent acquisition.” He added that the company “could substantially outpace our revenue estimates through FY26” and kept an “outperform” rating on the name.</p><p>Later this year, the company, along with EVgo, should benefit from the rapid growth of EV sales in the U.S. and Europe. This growth is driven by the release of many new EV models and by the recent jump in gasoline prices. Moreover, CHPT stock and EVGO stock should also get lifts from the Infrastructure Law which includes significant funding for EV chargers.</p><p><b>Shoals (SHLS)</b></p><p>In the wake of the conflict between Russia and Ukraine, the EU is looking to meaningfully expand its use of solar energy over the next eight years, a Yale publication recently reported. Meanwhile, as I’ve noted in previous articles, China and many U.S. states are also implementing policies that should accelerate solar sector growth. By the end of the year, I expect the U.S. Congress to extend important tax breaks for the solar sector.</p><p>Shoals, which makes solar energy components,recently received the last certification that it needed to sell its products in the EU.</p><p>As of the end of Q4, the company’s backlog jumped almost 100% year-over-year (YOY). Shoals’ “backlog and awarded orders” has reached nearly $300 million.</p><p>For 2022, Shoals expects its sales to soar 40% – 64% and predicted that its earnings, excluding certain items, would jump 40% – 54% to $300 million to $350 million.</p><p>To meet strong demand, Shoals plans to open a new U.S. factory next quarter.</p><p>Since Feb. 24, its shares have jumped more than 40%.</p><p><b>Freeport McMoran (FCX)</b></p><p>The copper producer’s Q4 revenue jumped 37% YOY to $1.1 billion, while its earnings per share (EPS), excluding certain items, was 96 cents. Last quarter, Freeport sold an impressive “1.020 billion pounds of copper,” and its expenses declined.</p><p>On March 4, the price of copper reached a record $4.938 per pound. As I noted in a previous article, “Although Russia mines just 4% of the world’s copper, the price of the metal has surged about 10% since the invasion,” while the huge jump in the demand for electric vehicles and clean energy are also having a positive impact on the demand for copper.</p><p>Additionally,<i>Seeking Alpha</i> reported that just before the invasion, “copper inventories at London Metal Exchange registered warehouses totaled less than 70K metric tons, their lowest level since 2005.”</p><p>A skilled technical analyst, and<i>InvestorPlace</i>columnist Bret Kenwell named FCX stock as one of eight “Uptrend Stocks to Watch.”</p><p>He recently reported, “Analysts expect about 14% revenue growth this year to go alongside almost 23% earnings growth. Despite the growth, shares trade at just under 13 times earnings.”</p><p>Amid the energy transition, continued strong inflation, and global instability. I believe that FCX stock can indeed triple this year. That would put the shares at slightly over double its 2010 high of just over $60.</p><p><b>Novavax (NVAX)</b></p><p>As I pointed out in a recent column on the shares, earlier this month, The<i>Wall Street Journal</i>stated that the company’s vaccine “for the coronavirus ‘is moving toward U.S. authorization.’ The progress came “after the company proved the effectiveness of its manufacturing process to the Food and Drug Administration (FDA),” I noted.</p><p>As a result of<i>The Journal’s</i>report, I expect the jab to be approved by the end of June.</p><p>Meanwhile, Novavax is distributing its shot in Europe and Australia and obtained an approval for the shot in Canada.</p><p>With vaccination rates still low in many parts of the world,particularly in Africa, the demand for Novavax’s shot around the world will probably be much stronger than the Street expects. With the shares trading at a price-revenue ratio of 1.26, based on the company’s 2022 revenue guidance, its valuation is very attractive.</p><p><b>Enphase Energy (ENPH)</b></p><p>Like Shoals, with the EU poised to greatly expand its solar capacity, ENPH stock has risen meaningfully since the Russian invasion. The EU’s initiative, along with the likely extension of key tax breaks for solar energy in the U.S., is likely to give ENPH stock a big jolt higher later this year.</p><p>Making me more confident that Congress will act on the tax breaks is a letter sent by 89 House Democrats to President Joe Biden. The letter calls on the President to advance the climate provisions that were included in Congressional Democrats’ budget proposal which have since apparently been dropped.</p><p>On Feb. 8, Enphase reported much stronger-than-expected fourth quarter results Its Q4 revenue climbed 56% YOY to $412 million, beating analysts’ average outlook by $13 million. The company’s operating income, excluding certain items, was an impressive $97.7 million.</p><p>Analysts, on average,expect the company’s EPS to jump to $3.06 this year and $3.93 in 2023, versus $2.41 in 2021. If Congress passes extensive tax breaks and incentives for solar energy, Enphase will likely be able to easily eclipse those numbers.</p><p>Meanwhile, research firm <b>Solar Media</b> recently predicted that solar module costs would “remain elevated for the next 18 months at least.” The estimate suggests that strengthening demand for solar energy is at last causing solar component prices to remain elevated, boding very well for Enphase and ENPH stock.</p><p><b>Plug Power (PLUG)</b></p><p>Another company likely to benefit meaningfully this year from the energy transition and the Russian invasion is Plug Power. The company should also get lifts from the high prices of oil and natural gas. And from the implementation of the Infrastructure Law passed last year.</p><p>In past columns, I’ve pointed out that the EU is looking to greatly increase the use of hydrogen within its borders. In the wake of Russia’s invasion of Ukraine, that initiative should meaningfully intensify. And with the Russian sanctions in play, South Korea is also likely to intensify its already ambitious hydrogen goals. Plug Power is partnering with South Korean conglomerate <b>SK Group</b> on multiple hydrogen projects.</p><p>Among the other trends that should lift PLUG stock this year are the higher oil and natural gas prices, the Infrastructure Law, and any additional efforts by Congress to incentivize clean energy.</p><p>As I pointed out in a previous column, Plug expects its margins from green hydrogen to increase going forward and reach “about 30% in 2024.” Given the current high prices of fossil fuels and likely further, upcoming support for green hydrogen by multiple governments, that target is probably conservative.</p><p>By the middle of the year, PLUG stock should start reflecting Plug’s improved outlook, resulting in big rallies by the shares.</p></body></html>","source":"lsy1606302653667","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>7 Hot Growth Stocks That Are Poised to Triple This Year</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; 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}\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\">\n7 Hot Growth Stocks That Are Poised to Triple This Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-20 09:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/03/7-hot-growth-stocks-that-are-poised-to-triple-this-year/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>These growth stocks will get big lifts from powerful, ongoing trendsSource: Who is Danny / Shutterstock.comThe macroeconomic stars might very well be aligned for a big rebound by the stock market. ...</p>\n\n<a href=\"https://investorplace.com/2022/03/7-hot-growth-stocks-that-are-poised-to-triple-this-year/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"EVGO":"EVgo Inc.","FCX":"麦克莫兰铜金","PLUG":"普拉格能源","SHLS":"Shoals Technologies Group","CHPT":"ChargePoint Holdings Inc.","ENPH":"Enphase Energy","NVAX":"诺瓦瓦克斯医药"},"source_url":"https://investorplace.com/2022/03/7-hot-growth-stocks-that-are-poised-to-triple-this-year/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141629779","content_text":"These growth stocks will get big lifts from powerful, ongoing trendsSource: Who is Danny / Shutterstock.comThe macroeconomic stars might very well be aligned for a big rebound by the stock market. First of all, as Investor’s Business Daily reported on March 13, despite the “market correction” the “indexes (are) off [their] lows.” The latter development is very positive; it indicates that the worst of the correction — and the year-long decline by growth stocks — may very well be behind us.Likely calming the markets are the realization by many investors that the interest rate hikes and the Russian-Ukrainian war probably will not cause the proverbial sky to fall. Interest rates will remain historically low, and high oil prices only caused a U.S. recession once, in 1973 when the cost of petroleum quickly quadrupled.Moreover, with the EU having enough natural gas to make it through winter, a lack of Russian natural gas won’t lead to disaster for those countries. And the U.S., the EU and Russia will, in all likelihood, continue to seek to prevent the conflict from widening.Also encouragingly, “legendary quant investor Louis Navellier” expects the market to surge in the second half of March,InvestorPlace Contributing Editor Jeff Remsberg recently reported.With investors becoming less fearful, there’s a good chance that growth stocks will rebound.Among my favorite sectors now are solar energy names,electric vehicle (EV) charging companies, mining companies and biotech firms. I believe that the market is, in general, greatly underestimating the strength of these groups.With that in my mind, these seven hot growth stocks definitely have what it takes to triple during the rest of the year:EVgo(NASDAQ:EVGO)ChargePoint Holdings(NYSE:CHPT)Shoals(NASDAQ:SHLS)Freeport McMoran(NYSE:FCX)Novavax(NASDAQ:NVAX)Enphase Energy(NASDAQ:ENPH)Plug Power(NASDAQ:PLUG)EVgo (EVGO)From Feb. 24 to March 10, the shares jumped 30%. The rally came after the EV charging company announced that it had made deals to provide fast chargers for some customers of two huge Japanese automakers — Subaru and Toyota(NYSE:TM).On Feb. 1, EVgo and Midwestern retailer Meije announced that the first of five EVgo charging stations had been opened at a Meijer store. EVgo indicated that it would add many more charging stations in partnership with the retailer, which has “more than 240 stores.”EVgo reports that it has the “largest public fast charging network for electric vehicles” in the U.S. and is likely to add many more retail and hotel partners down the road. And making EVgo more attractive for automotive, hotel, and retail partners, the company says that it’s the “only public network powered by 100% renewable electricity.”Also likely fueling EVgo’s surge was ChargePoint’s stronger-than-expected fourth quarter revenue and full-year sales guidance, which I will describe in some detail in the next section.ChargePoint Holdings (CHPT)The EV charging company reported that its sales had soared 90% year-over-year in the fourth quarter to $80.7 million, exceeding analysts’ average outlook by $4.6 million. And for its upcoming fiscal year, ChargePoint predicted that its sales would come in at $450 million – $500 million. The company stated that: “At the midpoint, this (guidance) represents an anticipated increase of 96% as compared to the prior year.” The guidance was also way above analysts’ average estimate of $238 million.Reacting to the results and guidance,Oppenheimer’s (NYSE:OPY) Colin Rusch wrote that, “We believe the company is executing well on port growth and is gaining traction in the EU with the aid of its recent acquisition.” He added that the company “could substantially outpace our revenue estimates through FY26” and kept an “outperform” rating on the name.Later this year, the company, along with EVgo, should benefit from the rapid growth of EV sales in the U.S. and Europe. This growth is driven by the release of many new EV models and by the recent jump in gasoline prices. Moreover, CHPT stock and EVGO stock should also get lifts from the Infrastructure Law which includes significant funding for EV chargers.Shoals (SHLS)In the wake of the conflict between Russia and Ukraine, the EU is looking to meaningfully expand its use of solar energy over the next eight years, a Yale publication recently reported. Meanwhile, as I’ve noted in previous articles, China and many U.S. states are also implementing policies that should accelerate solar sector growth. By the end of the year, I expect the U.S. Congress to extend important tax breaks for the solar sector.Shoals, which makes solar energy components,recently received the last certification that it needed to sell its products in the EU.As of the end of Q4, the company’s backlog jumped almost 100% year-over-year (YOY). Shoals’ “backlog and awarded orders” has reached nearly $300 million.For 2022, Shoals expects its sales to soar 40% – 64% and predicted that its earnings, excluding certain items, would jump 40% – 54% to $300 million to $350 million.To meet strong demand, Shoals plans to open a new U.S. factory next quarter.Since Feb. 24, its shares have jumped more than 40%.Freeport McMoran (FCX)The copper producer’s Q4 revenue jumped 37% YOY to $1.1 billion, while its earnings per share (EPS), excluding certain items, was 96 cents. Last quarter, Freeport sold an impressive “1.020 billion pounds of copper,” and its expenses declined.On March 4, the price of copper reached a record $4.938 per pound. As I noted in a previous article, “Although Russia mines just 4% of the world’s copper, the price of the metal has surged about 10% since the invasion,” while the huge jump in the demand for electric vehicles and clean energy are also having a positive impact on the demand for copper.Additionally,Seeking Alpha reported that just before the invasion, “copper inventories at London Metal Exchange registered warehouses totaled less than 70K metric tons, their lowest level since 2005.”A skilled technical analyst, andInvestorPlacecolumnist Bret Kenwell named FCX stock as one of eight “Uptrend Stocks to Watch.”He recently reported, “Analysts expect about 14% revenue growth this year to go alongside almost 23% earnings growth. Despite the growth, shares trade at just under 13 times earnings.”Amid the energy transition, continued strong inflation, and global instability. I believe that FCX stock can indeed triple this year. That would put the shares at slightly over double its 2010 high of just over $60.Novavax (NVAX)As I pointed out in a recent column on the shares, earlier this month, TheWall Street Journalstated that the company’s vaccine “for the coronavirus ‘is moving toward U.S. authorization.’ The progress came “after the company proved the effectiveness of its manufacturing process to the Food and Drug Administration (FDA),” I noted.As a result ofThe Journal’sreport, I expect the jab to be approved by the end of June.Meanwhile, Novavax is distributing its shot in Europe and Australia and obtained an approval for the shot in Canada.With vaccination rates still low in many parts of the world,particularly in Africa, the demand for Novavax’s shot around the world will probably be much stronger than the Street expects. With the shares trading at a price-revenue ratio of 1.26, based on the company’s 2022 revenue guidance, its valuation is very attractive.Enphase Energy (ENPH)Like Shoals, with the EU poised to greatly expand its solar capacity, ENPH stock has risen meaningfully since the Russian invasion. The EU’s initiative, along with the likely extension of key tax breaks for solar energy in the U.S., is likely to give ENPH stock a big jolt higher later this year.Making me more confident that Congress will act on the tax breaks is a letter sent by 89 House Democrats to President Joe Biden. The letter calls on the President to advance the climate provisions that were included in Congressional Democrats’ budget proposal which have since apparently been dropped.On Feb. 8, Enphase reported much stronger-than-expected fourth quarter results Its Q4 revenue climbed 56% YOY to $412 million, beating analysts’ average outlook by $13 million. The company’s operating income, excluding certain items, was an impressive $97.7 million.Analysts, on average,expect the company’s EPS to jump to $3.06 this year and $3.93 in 2023, versus $2.41 in 2021. If Congress passes extensive tax breaks and incentives for solar energy, Enphase will likely be able to easily eclipse those numbers.Meanwhile, research firm Solar Media recently predicted that solar module costs would “remain elevated for the next 18 months at least.” The estimate suggests that strengthening demand for solar energy is at last causing solar component prices to remain elevated, boding very well for Enphase and ENPH stock.Plug Power (PLUG)Another company likely to benefit meaningfully this year from the energy transition and the Russian invasion is Plug Power. The company should also get lifts from the high prices of oil and natural gas. And from the implementation of the Infrastructure Law passed last year.In past columns, I’ve pointed out that the EU is looking to greatly increase the use of hydrogen within its borders. In the wake of Russia’s invasion of Ukraine, that initiative should meaningfully intensify. And with the Russian sanctions in play, South Korea is also likely to intensify its already ambitious hydrogen goals. Plug Power is partnering with South Korean conglomerate SK Group on multiple hydrogen projects.Among the other trends that should lift PLUG stock this year are the higher oil and natural gas prices, the Infrastructure Law, and any additional efforts by Congress to incentivize clean energy.As I pointed out in a previous column, Plug expects its margins from green hydrogen to increase going forward and reach “about 30% in 2024.” Given the current high prices of fossil fuels and likely further, upcoming support for green hydrogen by multiple governments, that target is probably conservative.By the middle of the year, PLUG stock should start reflecting Plug’s improved outlook, resulting in big rallies by the shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035965033,"gmtCreate":1647487813460,"gmtModify":1676534236733,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035965033","repostId":"2220169793","repostType":4,"repost":{"id":"2220169793","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1647471128,"share":"https://ttm.financial/m/news/2220169793?lang=&edition=fundamental","pubTime":"2022-03-17 06:52","market":"us","language":"en","title":"Wall Street Pares Gains after Fed Hikes Rates, Signals More","url":"https://stock-news.laohu8.com/highlight/detail?id=2220169793","media":"Reuters","summary":"* Fed ups rates by 25 basis points, signals 7 hikes for 2022* S&P banks close up 3.7%, financials add 2.9%* Indexes up: Dow 1.55%, S&P 500 2.24%, Nasdaq 3.77%March 16 (Reuters) - The S&P 500closed up ","content":"<html><head></head><body><p>* Fed ups rates by 25 basis points, signals 7 hikes for 2022</p><p>* S&amp;P banks close up 3.7%, financials add 2.9%</p><p>* Indexes up: Dow 1.55%, S&amp;P 500 2.24%, Nasdaq 3.77%</p><p>March 16 (Reuters) - The S&amp;P 500 closed up more than 2% while the Nasdaq rallied almost 4% on Wednesday as investors shrugged off initial jitters following the U.S. Federal Reserve&#39;s interest rate increase and its signal that more hikes would be needed to fight inflation, ending the pandemic-era&#39;s easy monetary policy.</p><p>The central bank announced a quarter-percentage-point increase in its benchmark overnight rate as was widely expected but the projection that its rate would hit between 1.75% and 2% by year&#39;s end was more hawkish than some investors said they had expected.</p><p>While the Fed flagged the massive uncertainty the economy faces from the war between Russia and Ukraine and the ongoing COVID-19 crisis, it said &#34;ongoing increases&#34; in the target federal funds rate &#34;will be appropriate&#34; to curb the highest inflation the country has witnessed in 40 years.</p><p>While the major indexes pared earlier gains sharply and the S&amp;P and the Dow both dipped into the red briefly after the Fed statement, the indexes steadied as Fed chair Jerome Powell spoke at a press conference.</p><p>Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis said investors may be relieved the Fed is taking action against surging inflation.</p><p>&#34;Hearing the Fed finally &#39;say and act&#39; to tackle inflation is somewhat calming for the investment community, and for Main Street struggling with higher inflation,&#34; he said.</p><p>But other market analysts were concerned the aggressive rate hike projected could cause the economy to skid.</p><p>&#34;This looks like a Fed that is intending on causing recession in order to stamp out the inflation problem and that is as short sighted as calling inflation transitory a year ago,” Scott Ladner, chief investment officer, Horizon Investments, Charlotte, North Carolina.</p><p>Joseph LaVorgna, Americas chief economist at Natixis in New York was also skeptical.</p><p>“They’re going to try to be aggressive here in raising rates. I wish Jay Powell and company all the best of luck because they&#39;re not going to get anywhere near as they think, unless they’re willing to throw a lot of people out of jobs, because that&#39;s what&#39;s going to happen.  Because we&#39;re going to have a recession. This is a recession forecast,&#34; he said.</p><p>&#34;I just don&#39;t see the Fed being able to engineer this kind of tightening for what right now is inflationary demand destruction.&#34;</p><p>The Dow Jones Industrial Average rose 518.76 points, or 1.55%, to 34,063.1, the S&amp;P 500 gained 95.41 points, or 2.24%, to 4,357.86 and the Nasdaq Composite added 487.93 points, or 3.77%, to 13,436.55.</p><p>Of the S&amp;P 500&#39;s 11 major industry sectors, the biggest gainers were sectors that had fallen sharply in a recent sell off with consumer discretionary and technology</p><p>both finishing up more than 3% while communications services and financials added almost 3%.</p><p>Only two of the sectors ended the day in the red with energy falling 0.4% and utilities losing 0.2%.</p><p>Historical data suggests tighter monetary policy has often been accompanied by solid gains in stocks. The S&amp;P 500 has returned an average 7.7% in the first year the Fed raises rates, according to a Deutsche Bank study of 13 hiking cycles since 1955.</p><p>Ahead of the Fed statement stocks had been rallying as talk of compromise from both Moscow and Kyiv on a status for Ukraine outside of NATO lifted hope on Wednesday for a potential breakthrough after three weeks of war.</p><p>The global mood had also been lifted earlier by China&#39;s promise to roll out more stimulus for the economy and keep markets stable.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 3.78-to-1 ratio; on Nasdaq, a 3.79-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 15 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 29 new highs and 93 new lows.</p><p>On U.S. exchanges 15.82 billion shares changed hands compared with the 14.04 billion 20-day moving average.</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>Wall Street Pares Gains after Fed Hikes Rates, Signals More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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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\">\nWall Street Pares Gains after Fed Hikes Rates, Signals More\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-03-17 06:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Fed ups rates by 25 basis points, signals 7 hikes for 2022</p><p>* S&amp;P banks close up 3.7%, financials add 2.9%</p><p>* Indexes up: Dow 1.55%, S&amp;P 500 2.24%, Nasdaq 3.77%</p><p>March 16 (Reuters) - The S&amp;P 500 closed up more than 2% while the Nasdaq rallied almost 4% on Wednesday as investors shrugged off initial jitters following the U.S. Federal Reserve&#39;s interest rate increase and its signal that more hikes would be needed to fight inflation, ending the pandemic-era&#39;s easy monetary policy.</p><p>The central bank announced a quarter-percentage-point increase in its benchmark overnight rate as was widely expected but the projection that its rate would hit between 1.75% and 2% by year&#39;s end was more hawkish than some investors said they had expected.</p><p>While the Fed flagged the massive uncertainty the economy faces from the war between Russia and Ukraine and the ongoing COVID-19 crisis, it said &#34;ongoing increases&#34; in the target federal funds rate &#34;will be appropriate&#34; to curb the highest inflation the country has witnessed in 40 years.</p><p>While the major indexes pared earlier gains sharply and the S&amp;P and the Dow both dipped into the red briefly after the Fed statement, the indexes steadied as Fed chair Jerome Powell spoke at a press conference.</p><p>Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis said investors may be relieved the Fed is taking action against surging inflation.</p><p>&#34;Hearing the Fed finally &#39;say and act&#39; to tackle inflation is somewhat calming for the investment community, and for Main Street struggling with higher inflation,&#34; he said.</p><p>But other market analysts were concerned the aggressive rate hike projected could cause the economy to skid.</p><p>&#34;This looks like a Fed that is intending on causing recession in order to stamp out the inflation problem and that is as short sighted as calling inflation transitory a year ago,” Scott Ladner, chief investment officer, Horizon Investments, Charlotte, North Carolina.</p><p>Joseph LaVorgna, Americas chief economist at Natixis in New York was also skeptical.</p><p>“They’re going to try to be aggressive here in raising rates. I wish Jay Powell and company all the best of luck because they&#39;re not going to get anywhere near as they think, unless they’re willing to throw a lot of people out of jobs, because that&#39;s what&#39;s going to happen.  Because we&#39;re going to have a recession. This is a recession forecast,&#34; he said.</p><p>&#34;I just don&#39;t see the Fed being able to engineer this kind of tightening for what right now is inflationary demand destruction.&#34;</p><p>The Dow Jones Industrial Average rose 518.76 points, or 1.55%, to 34,063.1, the S&amp;P 500 gained 95.41 points, or 2.24%, to 4,357.86 and the Nasdaq Composite added 487.93 points, or 3.77%, to 13,436.55.</p><p>Of the S&amp;P 500&#39;s 11 major industry sectors, the biggest gainers were sectors that had fallen sharply in a recent sell off with consumer discretionary and technology</p><p>both finishing up more than 3% while communications services and financials added almost 3%.</p><p>Only two of the sectors ended the day in the red with energy falling 0.4% and utilities losing 0.2%.</p><p>Historical data suggests tighter monetary policy has often been accompanied by solid gains in stocks. The S&amp;P 500 has returned an average 7.7% in the first year the Fed raises rates, according to a Deutsche Bank study of 13 hiking cycles since 1955.</p><p>Ahead of the Fed statement stocks had been rallying as talk of compromise from both Moscow and Kyiv on a status for Ukraine outside of NATO lifted hope on Wednesday for a potential breakthrough after three weeks of war.</p><p>The global mood had also been lifted earlier by China&#39;s promise to roll out more stimulus for the economy and keep markets stable.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 3.78-to-1 ratio; on Nasdaq, a 3.79-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 15 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 29 new highs and 93 new lows.</p><p>On U.S. exchanges 15.82 billion shares changed hands compared with the 14.04 billion 20-day moving average.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF",".IXIC":"NASDAQ Composite","QQQ":"纳指100ETF","BK4550":"红杉资本持仓","OEX":"标普100",".SPX":"S&P 500 Index","DOG":"道指反向ETF","BK4581":"高盛持仓","BK4504":"桥水持仓","SSO":"两倍做多标普500ETF","QID":"纳指两倍做空ETF","SH":"标普500反向ETF","DJX":"1/100道琼斯",".DJI":"道琼斯","SPXU":"三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF","BK4559":"巴菲特持仓","SPY":"标普500ETF","OEF":"标普100指数ETF-iShares","QLD":"纳指两倍做多ETF","BK4534":"瑞士信贷持仓","DXD":"道指两倍做空ETF","IVV":"标普500指数ETF","TQQQ":"纳指三倍做多ETF","UDOW":"道指三倍做多ETF-ProShares","SDOW":"道指三倍做空ETF-ProShares","PSQ":"纳指反向ETF","DDM":"道指两倍做多ETF","SDS":"两倍做空标普500ETF","UPRO":"三倍做多标普500ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2220169793","content_text":"* Fed ups rates by 25 basis points, signals 7 hikes for 2022* S&P banks close up 3.7%, financials add 2.9%* Indexes up: Dow 1.55%, S&P 500 2.24%, Nasdaq 3.77%March 16 (Reuters) - The S&P 500 closed up more than 2% while the Nasdaq rallied almost 4% on Wednesday as investors shrugged off initial jitters following the U.S. Federal Reserve's interest rate increase and its signal that more hikes would be needed to fight inflation, ending the pandemic-era's easy monetary policy.The central bank announced a quarter-percentage-point increase in its benchmark overnight rate as was widely expected but the projection that its rate would hit between 1.75% and 2% by year's end was more hawkish than some investors said they had expected.While the Fed flagged the massive uncertainty the economy faces from the war between Russia and Ukraine and the ongoing COVID-19 crisis, it said \"ongoing increases\" in the target federal funds rate \"will be appropriate\" to curb the highest inflation the country has witnessed in 40 years.While the major indexes pared earlier gains sharply and the S&P and the Dow both dipped into the red briefly after the Fed statement, the indexes steadied as Fed chair Jerome Powell spoke at a press conference.Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis said investors may be relieved the Fed is taking action against surging inflation.\"Hearing the Fed finally 'say and act' to tackle inflation is somewhat calming for the investment community, and for Main Street struggling with higher inflation,\" he said.But other market analysts were concerned the aggressive rate hike projected could cause the economy to skid.\"This looks like a Fed that is intending on causing recession in order to stamp out the inflation problem and that is as short sighted as calling inflation transitory a year ago,” Scott Ladner, chief investment officer, Horizon Investments, Charlotte, North Carolina.Joseph LaVorgna, Americas chief economist at Natixis in New York was also skeptical.“They’re going to try to be aggressive here in raising rates. I wish Jay Powell and company all the best of luck because they're not going to get anywhere near as they think, unless they’re willing to throw a lot of people out of jobs, because that's what's going to happen.  Because we're going to have a recession. This is a recession forecast,\" he said.\"I just don't see the Fed being able to engineer this kind of tightening for what right now is inflationary demand destruction.\"The Dow Jones Industrial Average rose 518.76 points, or 1.55%, to 34,063.1, the S&P 500 gained 95.41 points, or 2.24%, to 4,357.86 and the Nasdaq Composite added 487.93 points, or 3.77%, to 13,436.55.Of the S&P 500's 11 major industry sectors, the biggest gainers were sectors that had fallen sharply in a recent sell off with consumer discretionary and technologyboth finishing up more than 3% while communications services and financials added almost 3%.Only two of the sectors ended the day in the red with energy falling 0.4% and utilities losing 0.2%.Historical data suggests tighter monetary policy has often been accompanied by solid gains in stocks. The S&P 500 has returned an average 7.7% in the first year the Fed raises rates, according to a Deutsche Bank study of 13 hiking cycles since 1955.Ahead of the Fed statement stocks had been rallying as talk of compromise from both Moscow and Kyiv on a status for Ukraine outside of NATO lifted hope on Wednesday for a potential breakthrough after three weeks of war.The global mood had also been lifted earlier by China's promise to roll out more stimulus for the economy and keep markets stable.Advancing issues outnumbered declining ones on the NYSE by a 3.78-to-1 ratio; on Nasdaq, a 3.79-to-1 ratio favored advancers.The S&P 500 posted 15 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 29 new highs and 93 new lows.On U.S. exchanges 15.82 billion shares changed hands compared with the 14.04 billion 20-day moving average.","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":170045996,"gmtCreate":1626397321015,"gmtModify":1703759303171,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good read. Thank you","listText":"Good read. Thank you","text":"Good read. Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170045996","repostId":"2151573133","repostType":4,"repost":{"id":"2151573133","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1626379249,"share":"https://ttm.financial/m/news/2151573133?lang=&edition=fundamental","pubTime":"2021-07-16 04:00","market":"us","language":"en","title":"Nasdaq ends lower as investors sell Big Tech","url":"https://stock-news.laohu8.com/highlight/detail?id=2151573133","media":"Reuters","summary":"July 15  - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.Amazon, Apple, Tesla and $Facebook$all fell. Nvidia tumbled around 4%.The S&P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&P 500 and the Nasdaq to record highs.The S&P 500 energy sector index fell more than ","content":"<ul>\n <li>U.S. weekly jobless claims fall to 16-month low</li>\n <li>Tech sector ends four-day winning streak</li>\n</ul>\n<p>July 15 (Reuters) - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.</p>\n<p>Amazon, Apple,&nbsp;Tesla and <a href=\"https://laohu8.com/S/FB\">Facebook</a>all fell. Nvidia&nbsp;tumbled around 4%.</p>\n<p>The S&amp;P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&amp;P 500 and the Nasdaq to record highs.</p>\n<p>The S&amp;P 500 energy sector index fell more than 1% and tracked a drop in crude prices on expectations of more supply after a compromise agreement between leading OPEC producers.</p>\n<p>Fresh data showed the number of Americans filing new claims for unemployment benefits fell last week to a 16-month low, while worker shortages and bottlenecks in the supply chain have frustrated efforts by businesses to ramp up production to meet strong demand for goods and services.</p>\n<p>Federal Reserve Chair Jerome Powell told lawmakers he anticipated the shortages and high inflation would abate. Yet many investors still worry that more sustained inflation could lead to a sooner-than-expected tightening of monetary policy.</p>\n<p>\"People are very nervous and concerned about inflation, tax rates and the (2022 midterm) election. Those three things are very much on people's minds,\" said 6 Meridian Chief Investment Officer Andrew Mies, describing recent phone calls with his firm's clients.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 54.52 points, or 0.16%, to 34,987.75, the S&amp;P 500 lost 14.29 points, or 0.33%, to 4,360.01 and the Nasdaq Composite&nbsp;dropped 101.82 points, or 0.7%, to 14,543.13.</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> dipped as much as 1.2% after it beat expectations for quarterly profit, getting a boost from record investment banking activity even as the trading bonanza that supported results in recent quarters slowed down.</p>\n<p>Second-quarter reporting season kicked off this week, with the four largest U.S. lenders - Wells Fargo &amp; Co , $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ and JPMorgan Chase &amp; Co - posting a combined $33 billion in profits, but also highlighting the industry's sensitivity to low interest rates.</p>\n<p>Blackstone said late on Wednesday it would pay $2.2 billion for 9.9% stake in American International Group's life and retirement business. AIG and Blackstone both rallied.</p>\n<p>Johnson &amp; Johnson dipped after it voluntarily recalled five aerosol sunscreen products in the United States after detecting a cancer-causing chemical in some samples.</p>\n<p>(Reporting by Noel Randewich; Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq ends lower as investors sell Big Tech</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\">\nNasdaq ends lower as investors sell Big Tech\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-16 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li>U.S. weekly jobless claims fall to 16-month low</li>\n <li>Tech sector ends four-day winning streak</li>\n</ul>\n<p>July 15 (Reuters) - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.</p>\n<p>Amazon, Apple,&nbsp;Tesla and <a href=\"https://laohu8.com/S/FB\">Facebook</a>all fell. Nvidia&nbsp;tumbled around 4%.</p>\n<p>The S&amp;P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&amp;P 500 and the Nasdaq to record highs.</p>\n<p>The S&amp;P 500 energy sector index fell more than 1% and tracked a drop in crude prices on expectations of more supply after a compromise agreement between leading OPEC producers.</p>\n<p>Fresh data showed the number of Americans filing new claims for unemployment benefits fell last week to a 16-month low, while worker shortages and bottlenecks in the supply chain have frustrated efforts by businesses to ramp up production to meet strong demand for goods and services.</p>\n<p>Federal Reserve Chair Jerome Powell told lawmakers he anticipated the shortages and high inflation would abate. Yet many investors still worry that more sustained inflation could lead to a sooner-than-expected tightening of monetary policy.</p>\n<p>\"People are very nervous and concerned about inflation, tax rates and the (2022 midterm) election. Those three things are very much on people's minds,\" said 6 Meridian Chief Investment Officer Andrew Mies, describing recent phone calls with his firm's clients.</p>\n<p>Unofficially, the Dow Jones Industrial Average rose 54.52 points, or 0.16%, to 34,987.75, the S&amp;P 500 lost 14.29 points, or 0.33%, to 4,360.01 and the Nasdaq Composite&nbsp;dropped 101.82 points, or 0.7%, to 14,543.13.</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> dipped as much as 1.2% after it beat expectations for quarterly profit, getting a boost from record investment banking activity even as the trading bonanza that supported results in recent quarters slowed down.</p>\n<p>Second-quarter reporting season kicked off this week, with the four largest U.S. lenders - Wells Fargo &amp; Co , $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ and JPMorgan Chase &amp; Co - posting a combined $33 billion in profits, but also highlighting the industry's sensitivity to low interest rates.</p>\n<p>Blackstone said late on Wednesday it would pay $2.2 billion for 9.9% stake in American International Group's life and retirement business. AIG and Blackstone both rallied.</p>\n<p>Johnson &amp; Johnson dipped after it voluntarily recalled five aerosol sunscreen products in the United States after detecting a cancer-causing chemical in some samples.</p>\n<p>(Reporting by Noel Randewich; Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","C":"花旗",".DJI":"道琼斯","BAC":"美国银行",".IXIC":"NASDAQ Composite","SH":"标普500反向ETF","SSO":"两倍做多标普500ETF","QID":"纳指两倍做空ETF","03086":"华夏纳指","OEX":"标普100","AMZN":"亚马逊",".SPX":"S&P 500 Index","AAPL":"苹果","SPXU":"三倍做空标普500ETF","JPM":"摩根大通","SQQQ":"纳指三倍做空ETF","QNETCN":"纳斯达克中美互联网老虎指数","AIG":"美国国际集团","JNJ":"强生","DJX":"1/100道琼斯","DXD":"道指两倍做空ETF","QLD":"纳指两倍做多ETF","OEF":"标普100指数ETF-iShares","BX":"黑石","TQQQ":"纳指三倍做多ETF","IVV":"标普500指数ETF","SDOW":"道指三倍做空ETF-ProShares","PSQ":"纳指反向ETF","DDM":"道指两倍做多ETF","MS":"摩根士丹利","WFC":"富国银行","SDS":"两倍做空标普500ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","QQQ":"纳指100ETF","NVDA":"英伟达","09086":"华夏纳指-U","TSLA":"特斯拉","DOG":"道指反向ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151573133","content_text":"U.S. weekly jobless claims fall to 16-month low\nTech sector ends four-day winning streak\n\nJuly 15 (Reuters) - The Nasdaq ended lower on Thursday, pulled down by Apple, Amazon and other Big Tech companies as a fall in weekly jobless claims data fed investor concerns about a recent inflation spike.\nAmazon, Apple, Tesla and Facebookall fell. Nvidia tumbled around 4%.\nThe S&P 500 technology sector index ended a four-day winning streak. Earlier this week, investors' favor for heavyweight growth stocks pushed the S&P 500 and the Nasdaq to record highs.\nThe S&P 500 energy sector index fell more than 1% and tracked a drop in crude prices on expectations of more supply after a compromise agreement between leading OPEC producers.\nFresh data showed the number of Americans filing new claims for unemployment benefits fell last week to a 16-month low, while worker shortages and bottlenecks in the supply chain have frustrated efforts by businesses to ramp up production to meet strong demand for goods and services.\nFederal Reserve Chair Jerome Powell told lawmakers he anticipated the shortages and high inflation would abate. Yet many investors still worry that more sustained inflation could lead to a sooner-than-expected tightening of monetary policy.\n\"People are very nervous and concerned about inflation, tax rates and the (2022 midterm) election. Those three things are very much on people's minds,\" said 6 Meridian Chief Investment Officer Andrew Mies, describing recent phone calls with his firm's clients.\nUnofficially, the Dow Jones Industrial Average rose 54.52 points, or 0.16%, to 34,987.75, the S&P 500 lost 14.29 points, or 0.33%, to 4,360.01 and the Nasdaq Composite dropped 101.82 points, or 0.7%, to 14,543.13.\nMorgan Stanley dipped as much as 1.2% after it beat expectations for quarterly profit, getting a boost from record investment banking activity even as the trading bonanza that supported results in recent quarters slowed down.\nSecond-quarter reporting season kicked off this week, with the four largest U.S. lenders - Wells Fargo & Co , $Bank of America Corp(BAC-N)$ , $Citigroup Inc(C-N)$ and JPMorgan Chase & Co - posting a combined $33 billion in profits, but also highlighting the industry's sensitivity to low interest rates.\nBlackstone said late on Wednesday it would pay $2.2 billion for 9.9% stake in American International Group's life and retirement business. AIG and Blackstone both rallied.\nJohnson & Johnson dipped after it voluntarily recalled five aerosol sunscreen products in the United States after detecting a cancer-causing chemical in some samples.\n(Reporting by Noel Randewich; Additional reporting by Devik Jain and Shreyashi Sanyal in Bengaluru; Editing by Maju Samuel)","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9037089048,"gmtCreate":1647992520542,"gmtModify":1676534289088,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9037089048","repostId":"1150453839","repostType":4,"isVote":1,"tweetType":1,"viewCount":321,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179041143,"gmtCreate":1626478113883,"gmtModify":1703760731954,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"There should be nothing to fear. Ups and downs.","listText":"There should be nothing to fear. Ups and downs.","text":"There should be nothing to fear. Ups and downs.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179041143","repostId":"1149577900","repostType":4,"repost":{"id":"1149577900","pubTimestamp":1626483617,"share":"https://ttm.financial/m/news/1149577900?lang=&edition=fundamental","pubTime":"2021-07-17 09:00","market":"us","language":"en","title":"Don't Fear A Stock Market Crash","url":"https://stock-news.laohu8.com/highlight/detail?id=1149577900","media":"seekingalpha","summary":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push ","content":"<p>Summary</p>\n<ul>\n <li>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.</li>\n <li>There are four main factors that this market exhibits that have the potential to cause a crash.</li>\n <li>Those factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.</li>\n <li>Preparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.</li>\n <li>A crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.</li>\n</ul>\n<p>Warnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.</p>\n<p>An Abundance of 'Warnings'</p>\n<p>Simply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.</p>\n<ul>\n <li>Harry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.</li>\n <li>Jeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.</li>\n <li>John Hussmanhas warned that valuations are extreme, and called for the S&amp;P 500 to see 12 years of negative returns ahead and a &gt;60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"</li>\n</ul>\n<p>Yet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&amp;P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.</p>\n<p>Four Factors</p>\n<p>While there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.</p>\n<p>Excessive Speculation</p>\n<p>Speculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.</p>\n<p>While single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.</p>\n<p><img src=\"https://static.tigerbbs.com/dccc290398aed22a11cf41ae63a85bce\" tg-width=\"624\" tg-height=\"453\" referrerpolicy=\"no-referrer\"></p>\n<p>Margin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.</p>\n<p>Back in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.</p>\n<p>Speculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.</p>\n<p>Growth Slowdown</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/034a916ba93dac9b099409c5906bee37\" tg-width=\"631\" tg-height=\"563\" referrerpolicy=\"no-referrer\"><span>Graphic fromWeForumvia Statista</span></p>\n<p>The economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.</p>\n<p>Unemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.</p>\n<p>The market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.</p>\n<p>Peak Valuations</p>\n<p>Arguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/388dd5417e610209de84d8a86ca86f91\" tg-width=\"624\" tg-height=\"351\" referrerpolicy=\"no-referrer\"><span>Graphic fromBloomberg</span></p>\n<p>February and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising &gt;100% on rumors of mergers, only to fall &gt;50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.</p>\n<p>SPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6a5ace269e2c48c6ad6bb5180ce32e48\" tg-width=\"635\" tg-height=\"535\" referrerpolicy=\"no-referrer\"><span>Data byYCharts</span></p>\n<p>Tech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.</p>\n<p>But these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&amp;P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/136219a2e6ea016fd91597c989fa1a9e\" tg-width=\"624\" tg-height=\"312\" referrerpolicy=\"no-referrer\"><span>Graphic fromCurrent Market Valuation</span></p>\n<p>And as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8ab71b923769effdde5d09e1d3cd3fd\" tg-width=\"624\" tg-height=\"354\" referrerpolicy=\"no-referrer\"><span>Graphic fromBusiness Insider</span></p>\n<p>Low Interest Rates</p>\n<p>The fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.</p>\n<p>When interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e8cb16f3b4b962cfa8adbffa4127b92\" tg-width=\"960\" tg-height=\"720\" referrerpolicy=\"no-referrer\"><span>Graphic fromJP Morgan</span></p>\n<p>Although rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.</p>\n<p>Is It Time To Prepare?</p>\n<p>Signs and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims of<i>x%</i>drops in<i>x</i>month are speculative in nature, unless that individual knows something unknown to the rest of the market.</p>\n<p>When facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like&nbsp;SPY&nbsp;and&nbsp;DIA&nbsp;could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.<i>Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.</i></p>\n<p>Again, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Don't Fear A Stock Market Crash</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\">\nDon't Fear A Stock Market Crash\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-17 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://seekingalpha.com/article/4439512-dont-fear-a-stock-market-crash","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1149577900","content_text":"Summary\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records.\nThere are four main factors that this market exhibits that have the potential to cause a crash.\nThose factors include excessive speculation, a growth slowdown, peak valuations, and low interest rates rising.\nPreparedness for the possible outcomes stemming from these factors and securing a portfolio against those outcomes could be necessary.\nA crash isn't something to fear, but rather something to take advantage of and capitalize from the bargains being offered.\n\nWarnings and claims of a stock market crash keep surfacing as the markets continue to push themselves to new records. First it was March, then May, then June, then September, for when experts would say the crash would come. Has it? No. Will it? Possibly. Is it easy to predict? Hardly. The more you hear people talk about it, the more you see it, the more convincing a possible crash gets - yet it's still nothing to fear. There are unfavorable and unsightly factors in the markets - again, it's still nothing to fear; rather, it's something to keep in mind, prepare for, and ultimately, take advantage of and capitalize. Just like in sports such as basketball and soccer, a great player plays both offense and defense very well, and likewise a great investor can play both the bull and bear runs in the market, and capitalize off of either. A crash should be nothing to fear, when the cards are stacked right and the hedges are placed, as it can offer chances to buy high-quality companies often at large discounts.\nAn Abundance of 'Warnings'\nSimply doing a quick search on Google (GOOG) for \"stock market crash\" or \"stock market crash expert\" returns dozens upon dozens of results of arguments laying out the pending doom of the markets, the arguments behind why the crash is bound to happen, why the crash didn't happen when it was supposed to,etc.; while there are many different 'expert warnings' for such a crash, let's take a look at three different perspectives, from Harry Dent, Jeremy Grantham, and John Hussman.\n\nHarry Denthas warned of an 80% crash coming this fall (a bit on the extreme side it seems, compared to others), saying that \"stocks have no place in investors' portfolios.\" His track record includes calling Japan's 1989 bubble and the dot-com bubble, and Dent is seeing that while investors remain bullish in the longer-term, the economy's recovery isn't the same and \"not as good as it used to be.\" Back in March, he had said that the biggest crash would happen in June, but as we all can see, it did not.\nJeremy Granthamsees that the 2020 Covid-induced crash was a mere blip in the run to the market peak, with the past year shoring up to be the \"classic finale to an 11-year bull market.\" Overvaluation across each market decile, farther than in 2000, while margin and debt peak, and high speculative trading support his warning. He also sees deflating asset prices, such as housing, causing pain as well, as bonds, stocks and real estate have all inflated together.\nJohn Hussmanhas warned that valuations are extreme, and called for the S&P 500 to see 12 years of negative returns ahead and a >60% decline; Hussman's track record includes calling out the dot-com bubble burst and 80% decline, the 2008 crash, and the decade of negative returns following the dot-com bubble. He also warns about speculation on securities that have already seen large appreciation for future growth. One of the key factors that he points out for a likely snapping of this bull run is that \"the mental image in anticipation of a post-pandemic recovery may be more pleasant than the actual recovery itself,\" such that the \"glowing optimism currently built into record valuation extremes could be followed by quite a bit of disappointment.\"\n\nYet they aren't alone, and while track records do show some big crashes, often times they can be wrong far more than they are right, banks are also seeing minimal returns over the decade - Bank of America (BAC) is predicting that the S&P 500 would return an average of just 2% through the decade given the valuation landscape. That, plus other factors, do bring up the possibility of a crash, but with the signs and signals flashing, it shouldn't catch anyone off guard.\nFour Factors\nWhile there are many factors that have caused prior crashes and could cause future ones, four main factors that this current market exhibits that have the potential to cause a crash include: high amounts of speculative trading, slowdown in growth (economic recovery), peak valuations, and low interest rates that rise.\nExcessive Speculation\nSpeculation comes in many forms, but the most recognizable instances of over-exuberant trading and excessive speculation include GameStop's (GME) January short-squeeze frenzy, Archegos' implosion and the crash of Viacom (VIAC), Discovery (DISCA), a basket of Chinese tech stocks including Baidu (BIDU), iQIYI (IQ) and Vipshop(NYSE:VIPS), and others, and the more recent AMC Entertainment (AMC) short squeeze. Dogecoin (DOGE-USD) also erupted in a speculative half social-media, half Elon Musk-fueled run.\nWhile single asset speculation through heavy volume trading not just in shares but in call options has been visible, less visible aspects of excessive speculative have persisted for months, with some surfacing in February or earlier.\n\nMargin debt (above) has risen significantly since 2020's bottoming out, up over 70% to over $850 billion from just $500 billion in early 2020. Robinhood (HOOD), a facilitator of first-time investors entering the market, of which they did in herds during 2020, provided relatively easy access to margin trading, and a flood of new investors and a surge in 'FOMO' helped push both margin debt and the market higher through 2020. While spikes in margin debt have historically preceded both the dot-com and housing bubble bursts (a pre-recessionary indicator), margin debt has spiked during the recent recession, which could signal that more pain is yet to come.\nBack in early February, signs of excess speculation and a push in the ten-year past 1.25%, to me, signaled pain ahead for growth stocks - thatthesisplayed out starting that day, with the NASDAQ falling over 10% through early March. Now, yields are stumbling, with the ten-year dropping below 1.30%, as expectations for a growth slowdown amid a slew of factors including new lockdowns in Australia, rising cases from the Delta variant and higher-than-expected inflation.\nSpeculation combines with other factors, like a growth slowdown and peak valuations, to create frothiness in trading, stretched multiples, and asymmetric risk-reward profiles, creating more risk than reward often.\nGrowth Slowdown\nGraphic fromWeForumvia Statista\nThe economic recovery as the globe worked through and emerged from lockdowns last year is visible, with a nearV-recoveryin GDP through the back half of 2020. China has seen aslowdownin its recovery, with more policy support expected; U.S. job numbers have missed expectations multiple times so far this year. There are still pockets of the economy that have failed to recovery as fast as expected, such as family-owned businesses/restaurants.\nUnemployment, GDP, and inflation all factor into forecasts for economic growth, and inflation is posing a larger risk than the other two currently. High inflation, high[er] unemployment, and an economic growth slowdown can create stagflation, such as what was witnessed in the 1970s.Fears of stagflationhave risen through June; while wage stagnation has been fought off by companies raising wages to meet downfalls caused by labor shortages, inflation is driving prices higher - theCPIrose quicker than expectations, reaching its highest level since August 2008, while thePPImirrored that move, helped by supply chain issues across nearly all industries. Companies like PepsiCo (PEP) and Conagra (CAG) are raising prices to combat adverse effects to their operating performances stemming from inflation.\nThe market hasn't necessarily reacted to the possibilities of an economic slowdown, and inflation isn't the only factor - Covid-19 is not close to being gone, with the Delta variant surging in non-vaccinated communities and countries.Lockdownshave been re-implemented in parts of Australia, and there's no telling if lockdowns will be needed in other regions if cases continue to spike, and that alone can revert economic growth.\nPeak Valuations\nArguably one of the most noticeable and most mentioned factor in this list is peak valuations - that is, stocks are in a bubble, or certain groups of stocks are substantially overvalued.\nGraphic fromBloomberg\nFebruary and March marked a time where the markets 'reset' valuations for growth stocks - in particular, SPACs and unprofitable high-growth stocks who soared during 2020 (Goldman Sachs'Non-Profitable Tech Indexreached 393.1 in January 2021, up from 81.7 in March 2020). The SPAC cohort is a mix of heavy speculation and peak valuations, with SPACs rising >100% on rumors of mergers, only to fall >50% following those mergers - Churchill Capital IV (CCIV) and Lucid Motors is the prime example of this. This was a trend of the EV sector in general from January through March, with leaders Tesla (TSLA) and NIO (NIO) shedding over one-third of their value.\nSPACs also mirror some of the exuberance in 2000 - stocks that had that dot-com in the name were able to raise substantial cash via IPOs without much of a proven operating record, and many failed. Many of the SPACs that have come public in the past year exhibit those same features - a high investor appetite, ability to raise necessary cash from such appetite, multi-billion dollar valuations, and minimal revenues. General IPOs are also red-hot, with hundreds of companies already joining the markets this year, as investor snap them up quickly.\nData byYCharts\nTech stocks that have performed poorly since that 'peak' from January through March include some of those recent IPOs like C3.ai (AI), Lemonade (LMND), Snowflake (SNOW), and others including Appian (APPN) and Fastly (FSLY); aside from Snowflake, which is down 20%, the rest have fallen over 40% from those highs as high P/S multiples reset. On the other hand, CrowdStrike (CRWD) and Zscaler (ZS) have managed to maintain such a high multiple with growing cybersecurity tailwinds, and have performed about flat over the same period. While the former six do still have strong, positive growth prospects, sustaining a high multiple is never guaranteed, and a reset that shocks the market shocks these stocks significantly, as seen in their performance.\nBut these peak valuations also spread to the blue-chips, and to FAANGM - Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix (NFLX), Google (GOOGL), and Microsoft (MSFT). This basket's PE valuations, on a weighted-by-market-cap basis, sat at 45x earnings in February, pushed higher by Amazon and Apple; at the moment, it sits just above 41.5x. This plays a role in exaggerating the overall S&P PE due to the heavy weighting the group has in the index, which is over 2 standard deviations above its average.\nGraphic fromCurrent Market Valuation\nAnd as a whole, valuations across the market are becoming more stretched, with each decile seeing its most extreme valuations on a PS basis, topping that of 2000. While high-beta, high-multiple stocks (primarily tech) in decline 10 have exceeded their 2000s level in a steep climb, decile 8 and 9 (likely more stable stocks given historical PS of 2x-4x) have seen that ratio double since 2011, with a surge in 2020 taking the deciles far past averages. While the exact components that make up each decile are unknown, are the drivers in place to solidify such a rapid expansion since 2019? For some stocks, possibly, but for others, it's not as likely. It could be down to a combination of high levels of bullishness in the market, FOMO, stimulus and low rates allowing stocks to run higher even with less fundamental backing.\nGraphic fromBusiness Insider\nLow Interest Rates\nThe fourth factor here is low interest rates that begin to rise, which ultimately affect the flow/flood of money into the markets, of which the Fed has supported since 2020. Some experts are seeing that equities in general are exhibiting signs of peak valuations and irrational exuberance, but that can be sustained as long as 'stimulus' in the form of Fed support remains.\nWhen interest rates are kept lower for an extended period, it increases the chances of bubbles being formed in different asset classes. Thus, one of the biggest risks becomes inflation, the risk that the market is currently digesting.\nGraphic fromJP Morgan\nAlthough rates are still low as of right now, the Fed has been facing some different viewpoints as to when it will need to start raising rates to combat inflation. Some see rates as early asnext year,others see it remaining in 2023. A rise in interest rates can spark a crash by removing excess liquidity from the markets (removing the ease of access to liquidity). The Fed has reiterated its belief that inflation is stilltransitory, but a quarter-long spell of higher-than-expected inflation data (just like what has occurred this week with the CPI and PPI rising ahead of expectations), could definitely force a rethinking of rate hikes and shake the market.\nIs It Time To Prepare?\nSigns and signals of bubbly conditions are still here, and preparedness for the possible outcomes and securing a portfolio against those outcomes is a smart idea. All it takes is one catalyst to knock equities back from high valuations and back to lower levels; sings in bonds and the dollar are starting to show rising expectations of tapering and the eventual end of Fed asset-buying and support. While there are numerous experts warning of a crash, it can be nearly impossible to time, and while evidence many of them provide is sound, such claims ofx%drops inxmonth are speculative in nature, unless that individual knows something unknown to the rest of the market.\nWhen facing a potential bubble or crash situation, hedging portfolios is key in minimizing losses and mitigating downside risk. Derivatives on index ETFs like SPY and DIA could offset potential selloffs in the market, while theQQQcan protect against losses in high-flying tech. For example, a quick case study for an SPY put play for Sept. 17: you assume an expectation for a 10% decline in the SPY to ~$390, and hedging your portfolio could come through a long put for ~$300, a $410/$390/$370 long butterfly for ~$100, or a $410/$390 put debit spread for ~$200. While the first trade has the highest return potential, it brings the highest risk, as the latter two strategies can start to profit on moves closer to -7%. For a $50,000 portfolio, a ~1% hedge could allow the purchase of 3 debit spreads, providing a maximum return of ~$6,000, or 12% of the portfolio value, which could effectively mitigate losses should the SPY fall to or below $390.Note that options strategies are inherently risky, and each investor's risk appetite is different, and such a strategy may not be suitable for everyone. This is merely a case study and shows the potential that a small percentage hedge can have in mitigating downside risk. Be aware of risks to timing and theta decay, and options becoming worthless.\nAgain, it's difficult to identify and even more difficult to time a bubble, given that the market can remain 'wrong' much longer than you can wait to be right. There's still room to run further with Fed support, but such signs of a potential bubble - excessive speculation, growth slowdown, peak valuations, and low interest rates rising - require awareness and preparedness. Yet it's nothing to fear. Small hedges can minimize downside risk, especially through options if timed well. Understanding the risks to high-flying growth stocks and those trading at or near peak valuations, regardless of sector, is important - many of the IPOs and SPACs have seen high valuations and minimal revenues, leading to exorbitant PS multiples pricing in years of growth, much like 2000. At the end of the day, if or when a crash happens, the opportunities to buy the 'best-of-the-best' companies at very attractive levels, and can provide generous returns.","news_type":1},"isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144445367,"gmtCreate":1626312085459,"gmtModify":1703757605899,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"nice one","listText":"nice one","text":"nice one","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144445367","repostId":"1144459947","repostType":4,"repost":{"id":"1144459947","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626311361,"share":"https://ttm.financial/m/news/1144459947?lang=&edition=fundamental","pubTime":"2021-07-15 09:09","market":"us","language":"en","title":"'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager","url":"https://stock-news.laohu8.com/highlight/detail?id=1144459947","media":"Benzinga","summary":"What Happened:Charles Edwards, the founder of Capriole Investments – a fund that takes long or short","content":"<p><b>What Happened:</b>Charles Edwards, the founder of Capriole Investments – a fund that takes&nbsp;long or short positions in<b>Bitcoin</b>(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.</p>\n<p><img src=\"https://static.tigerbbs.com/3d6a7d9fefa103f6bc6d5768a7695169\" tg-width=\"565\" tg-height=\"562\">“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.</p>\n<p>Edwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.</p>\n<p>“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.</p>\n<p>New Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.</p>\n<p><img src=\"https://static.tigerbbs.com/d06e08e52e539512ab40c409a7caafa2\" tg-width=\"572\" tg-height=\"895\"></p>\n<p>“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.</p>\n<p>Capriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”</p>\n<p>Since its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.</p>\n<p><b>Price Action:</b>At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager</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\">\n'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-07-15 09:09</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>What Happened:</b>Charles Edwards, the founder of Capriole Investments – a fund that takes&nbsp;long or short positions in<b>Bitcoin</b>(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.</p>\n<p><img src=\"https://static.tigerbbs.com/3d6a7d9fefa103f6bc6d5768a7695169\" tg-width=\"565\" tg-height=\"562\">“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.</p>\n<p>Edwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.</p>\n<p>“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.</p>\n<p>New Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.</p>\n<p><img src=\"https://static.tigerbbs.com/d06e08e52e539512ab40c409a7caafa2\" tg-width=\"572\" tg-height=\"895\"></p>\n<p>“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.</p>\n<p>Capriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”</p>\n<p>Since its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.</p>\n<p><b>Price Action:</b>At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144459947","content_text":"What Happened:Charles Edwards, the founder of Capriole Investments – a fund that takes long or short positions inBitcoin(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.\n“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.\nEdwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.\n“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.\nNew Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.\n\n“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.\nCapriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”\nSince its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.\nPrice Action:At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.","news_type":1},"isVote":1,"tweetType":1,"viewCount":485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9035859827,"gmtCreate":1647566966112,"gmtModify":1676534245337,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"👍🏻","listText":"👍🏻","text":"👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035859827","repostId":"1155210585","repostType":4,"isVote":1,"tweetType":1,"viewCount":419,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179732024,"gmtCreate":1626576147968,"gmtModify":1703761922034,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good read as usual ??","listText":"Good read as usual ??","text":"Good read as usual ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179732024","repostId":"1183956332","repostType":4,"repost":{"id":"1183956332","pubTimestamp":1626568120,"share":"https://ttm.financial/m/news/1183956332?lang=&edition=fundamental","pubTime":"2021-07-18 08:28","market":"us","language":"en","title":"US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1183956332","media":"renaissancecap...","summary":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.The largest deal of the week, specialty insurance brokerage Ryan Specialty Group plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in t","content":"<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.</p>\n<p>The largest deal of the week, specialty insurance brokerage&nbsp;<b>Ryan Specialty Group</b>(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.</p>\n<p>Water infrastructure company&nbsp;<b>Core &amp; Main</b>(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.</p>\n<p>HR software provider&nbsp;<b>Paycor HCM</b>(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.</p>\n<p>Latin <a href=\"https://laohu8.com/S/AFG\">American</a> e-commerce platform&nbsp;<b><a href=\"https://laohu8.com/S/VTEX\">VTEX</a></b>(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&amp;A and R&amp;D have weighed on profits.</p>\n<p>Learning management platform&nbsp;<b>Instructure Holdings</b>(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.</p>\n<p>Protein discovery and development platform&nbsp;<b>AbSci</b>(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include <a href=\"https://laohu8.com/S/MRK\">Merck</a> and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.</p>\n<p>Organic beverage brand&nbsp;<b><a href=\"https://laohu8.com/S/ZVIA\">Zevia PBC</a></b>(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.</p>\n<p>Content marketing platform&nbsp;<b>Outbrain</b>(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.</p>\n<p>Fitness franchisor&nbsp;<b>Xponential Fitness</b>(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.</p>\n<p>Legal software provider&nbsp;<b>CS Disco</b>(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.</p>\n<p>Following its postponement in May, Brazil’s&nbsp;<b>Zenvia</b>(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.</p>\n<p><b>Couchbase</b>(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&amp;M costs.</p>\n<p>Following its postponement in April,<b>Kaltura</b>(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.</p>\n<p><b>Gambling.com Group</b>(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.</p>\n<p>Three biotechs are expected to round out the week: cancer biotech&nbsp;<b>Candel Therapeutics</b>(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech&nbsp;<b>Ocean Biomedical</b>(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech&nbsp;<b>Elicio Therapeutics</b>(ELTX), which plans to raise $40 million at a $201 million market cap.</p>","source":"lsy1619493174116","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>US IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week</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; 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}\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\">\nUS IPO Week Ahead: Software, soft drinks, specialty insurance, and more debut in a 17 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-18 08:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VTEX":"VTEX","BASE":"Couchbase, Inc.","CNM":"Core & Main, Inc.","PYCR":"Paycor HCM, Inc.","RYAN":"Ryan Specialty Group Holdings, Inc.","LAW":"CS Disco, Inc.","ELTX":"Elicio Therapeutics","ZVIA":"Zevia PBC","GAMB":"Gambling.com Group Limited","INST":"Instructure Holdings, Inc.","ABSI":"Absci Corporation.","CADL":"Candel Therapeutics, Inc.","OB":"Outbrain Inc.","OCEA":"Ocean Biomedical"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/84265/US-IPO-Week-Ahead-Software-soft-drinks-specialty-insurance-and-more-debut-i","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183956332","content_text":"The IPO market’s breakneck pace is expected to continue in the week ahead, with a whopping 17 IPOs slated to raise $4.7 billion.\nThe largest deal of the week, specialty insurance brokerage Ryan Specialty Group(RYAN) plans to raise $1.3 billion at a $6.1 billion market cap. The company assists in the placement of hard-to-place risks for retail insurance brokers, and the sourcing, onboarding, underwriting, and servicing of those hard-to-place risks for insurance carriers. Profitable on an EBIT basis in the 1Q21, the company will be leveraged post-IPO.\nWater infrastructure company Core & Main(CNM) plans to raise $750 million at a $5.2 billion market cap in a 100% synthetic secondary offering. Profitable with solid growth, the company distributes water infrastructure products that connect 4,500 suppliers to over 60,000 municipal, non-residential, and residential customers.\nHR software provider Paycor HCM(PYCR) plans to raise $361 million at a $3.4 billion market cap. Paycor provides human capital management software to small and mid-sized businesses, covering the payroll process and key HR functionality. While net revenue retention fell in the FY20, the company is targeting a large addressable market and has a track record of profitability.\nLatin American e-commerce platform VTEX(VTEX) plans to raise $304 million at a $3.2 billion market cap. VTEX operates a business-to-consumer e-commerce platform to enterprise customers that natively combines commerce, order management, and marketplace functionality. The company has demonstrated growth, though investments in SG&A and R&D have weighed on profits.\nLearning management platform Instructure Holdings(INST) plans to raise $250 million at a $2.9 billion market cap. The company provides a next-generation Learning Management System (LMS), assessments for learning, actionable analytics, and dynamic content. Instructure states that it is the LMS market leader in both Higher Education and paid K-12, with over 6,000 global customers across 90 countries.\nProtein discovery and development platform AbSci(ABSI) plans to raise $200 million at a $1.6 billion market cap. AbSci currently has nine active programs across seven partners, which include Merck and Astellas, for which it has either negotiated or plans to negotiate license agreements. The company is highly unprofitable, and 90% of its tech development revenue came from a single partner in the 1Q21.\nOrganic beverage brand Zevia PBC(ZVIA) plans to raise $200 million at a $1.0 billion market cap. Zevia provides six product lines of zero calorie, zero sugar, naturally sweetened beverages in the US and Canada. The company has demonstrated growth and achieved profitability in the 1Q21.\nContent marketing platform Outbrain(OB) plans to raise $200 million at a $1.5 billion market cap. Outbrain’s platform enables over 7,000 online properties, helping them engage their users and monetize their visits by gathering over 1 billion data events each minute. Profitable with strong growth, the company had over 20,000 advertisers using its platform in 2020.\nFitness franchisor Xponential Fitness(XPOF) plans to raise $200 million at a $711 million market cap. Xponential Fitness is the largest boutique fitness franchisor in the US with over 1,750 studios operating across nine distinct brands. While the company’s business was impacted by the pandemic in 2020, preliminary results for the 2Q21 show 60%+ revenue growth and adjusted EBITDA swinging positive.\nLegal software provider CS Disco(LAW) plans to raise $193 million at a $1.6 billion market cap. Fast growing and unprofitable, DISCO provides a cloud-native, AI-powered legal solution that simplifies ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments.\nFollowing its postponement in May, Brazil’s Zenvia(ZENV) plans to raise $162 million at a $548 million market cap. The company’s software platform facilitated the flow of communication for more than 10,190 customers throughout Latin America as of March 31, 2021. While it achieved a net revenue expansion rate of nearly 110%, Zenvia’s EBITDA turned negative in the 1Q21.\nCouchbase(BASE) plans to raise $151 million at a $992 million market cap. Couchbase provides a NoSQL database that enables enterprises and developers to build and run applications across the cloud, on-premise, hybrid, or mobile and edge environments. The company has a sticky customer base that includes 30% of the Fortune 100, though it remains unprofitable due to high S&M costs.\nFollowing its postponement in April,Kaltura(KLTR) plans to raise $150 million at a $1.4 billion market cap. Kaltura provides live, real-time, and on-demand video products to a wide range of businesses including educational institutions, and media and telecom companies. Thanks to the growing adoption of virtual events, the company saw revenue expand in the 1Q21, though gross margin contracted.\nGambling.com Group(GAMB) plans to raise $90 million at a $435 million market cap. Gambling.com Group is a performance marketing company and a digital marketing services provider active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Profitable and fast growing, the company has increased its customer base from 131 in 2017 to over 200 in 2020.\nThree biotechs are expected to round out the week: cancer biotech Candel Therapeutics(CADL), which plans to raise $85 million at a $398 million market cap; preclinical biotech Ocean Biomedical(OCEA), which plans to raise $50 million at a $506 million market cap; and cancer biotech Elicio Therapeutics(ELTX), which plans to raise $40 million at a $201 million market cap.","news_type":1},"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144470766,"gmtCreate":1626312256555,"gmtModify":1703757611437,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"Good read. Thank you","listText":"Good read. Thank you","text":"Good read. Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144470766","repostId":"1144459947","repostType":4,"repost":{"id":"1144459947","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626311361,"share":"https://ttm.financial/m/news/1144459947?lang=&edition=fundamental","pubTime":"2021-07-15 09:09","market":"us","language":"en","title":"'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager","url":"https://stock-news.laohu8.com/highlight/detail?id=1144459947","media":"Benzinga","summary":"What Happened:Charles Edwards, the founder of Capriole Investments – a fund that takes long or short","content":"<p><b>What Happened:</b>Charles Edwards, the founder of Capriole Investments – a fund that takes&nbsp;long or short positions in<b>Bitcoin</b>(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.</p>\n<p><img src=\"https://static.tigerbbs.com/3d6a7d9fefa103f6bc6d5768a7695169\" tg-width=\"565\" tg-height=\"562\">“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.</p>\n<p>Edwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.</p>\n<p>“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.</p>\n<p>New Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.</p>\n<p><img src=\"https://static.tigerbbs.com/d06e08e52e539512ab40c409a7caafa2\" tg-width=\"572\" tg-height=\"895\"></p>\n<p>“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.</p>\n<p>Capriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”</p>\n<p>Since its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.</p>\n<p><b>Price Action:</b>At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager</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\">\n'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-07-15 09:09</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>What Happened:</b>Charles Edwards, the founder of Capriole Investments – a fund that takes&nbsp;long or short positions in<b>Bitcoin</b>(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.</p>\n<p><img src=\"https://static.tigerbbs.com/3d6a7d9fefa103f6bc6d5768a7695169\" tg-width=\"565\" tg-height=\"562\">“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.</p>\n<p>Edwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.</p>\n<p>“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.</p>\n<p>New Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.</p>\n<p><img src=\"https://static.tigerbbs.com/d06e08e52e539512ab40c409a7caafa2\" tg-width=\"572\" tg-height=\"895\"></p>\n<p>“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.</p>\n<p>Capriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”</p>\n<p>Since its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.</p>\n<p><b>Price Action:</b>At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144459947","content_text":"What Happened:Charles Edwards, the founder of Capriole Investments – a fund that takes long or short positions inBitcoin(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.\n“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.\nEdwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.\n“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.\nNew Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.\n\n“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.\nCapriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”\nSince its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.\nPrice Action:At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.","news_type":1},"isVote":1,"tweetType":1,"viewCount":387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144442597,"gmtCreate":1626312074219,"gmtModify":1703757605398,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144442597","repostId":"1144459947","repostType":4,"repost":{"id":"1144459947","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1626311361,"share":"https://ttm.financial/m/news/1144459947?lang=&edition=fundamental","pubTime":"2021-07-15 09:09","market":"us","language":"en","title":"'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager","url":"https://stock-news.laohu8.com/highlight/detail?id=1144459947","media":"Benzinga","summary":"What Happened:Charles Edwards, the founder of Capriole Investments – a fund that takes long or short","content":"<p><b>What Happened:</b>Charles Edwards, the founder of Capriole Investments – a fund that takes&nbsp;long or short positions in<b>Bitcoin</b>(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.</p>\n<p><img src=\"https://static.tigerbbs.com/3d6a7d9fefa103f6bc6d5768a7695169\" tg-width=\"565\" tg-height=\"562\">“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.</p>\n<p>Edwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.</p>\n<p>“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.</p>\n<p>New Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.</p>\n<p><img src=\"https://static.tigerbbs.com/d06e08e52e539512ab40c409a7caafa2\" tg-width=\"572\" tg-height=\"895\"></p>\n<p>“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.</p>\n<p>Capriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”</p>\n<p>Since its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.</p>\n<p><b>Price Action:</b>At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager</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\">\n'Every Address Metric For Bitcoin Looks Awful,' Says Crypto Fund Manager\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-07-15 09:09</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>What Happened:</b>Charles Edwards, the founder of Capriole Investments – a fund that takes&nbsp;long or short positions in<b>Bitcoin</b>(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.</p>\n<p><img src=\"https://static.tigerbbs.com/3d6a7d9fefa103f6bc6d5768a7695169\" tg-width=\"565\" tg-height=\"562\">“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.</p>\n<p>Edwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.</p>\n<p>“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.</p>\n<p>New Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.</p>\n<p><img src=\"https://static.tigerbbs.com/d06e08e52e539512ab40c409a7caafa2\" tg-width=\"572\" tg-height=\"895\"></p>\n<p>“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.</p>\n<p>Capriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”</p>\n<p>Since its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.</p>\n<p><b>Price Action:</b>At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144459947","content_text":"What Happened:Charles Edwards, the founder of Capriole Investments – a fund that takes long or short positions inBitcoin(CRYPTO: BTC) based on autonomous algorithms – isn’t convinced that the digital asset’s address metrics are entirely bullish.\n“I keep seeing posts on bullish Bitcoin address growth, but every address metric for Bitcoin looks awful,” said Edwards on Twitter.\nEdwards pointed to the current number of addresses holding over 1000 bitcoins as another concerning indicator. According to him, the whales that sold their Bitcoin holdings at the market top have still not resumed buying back into the leading digital asset.\n“New address growth is as low as it was immediately after the 2018 crash,” he added, referring to a Glassnodechartdepicting the number of new addresses to the Bitcoin network.\nNew Bitcoin addresses have fallen from a high of nearly 700,000 earlier this year to under 300,000 at the time of writing.\n\n“These metrics can change quickly. But for now, Bitcoin addresses metrics look terrible,” said Edwards.\nCapriole Investments Bitcoin fund takes a minimum investment of $100,000 from investors who seek “above market, above Bitcoin returns.”\nSince its inception in August 2020, the fund has returned over 375% to its investors but has recorded a loss of 28% over the past three months following Bitcoin’s declining price.\nPrice Action:At press time, Bitcoin was trading at $32,800, gaining 0.72% over the past 24-hours.","news_type":1},"isVote":1,"tweetType":1,"viewCount":365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144978967,"gmtCreate":1626264988359,"gmtModify":1703756615581,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"nice one","listText":"nice one","text":"nice one","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144978967","repostId":"2151162795","repostType":4,"isVote":1,"tweetType":1,"viewCount":345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144971792,"gmtCreate":1626264951616,"gmtModify":1703756615087,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144971792","repostId":"1165924722","repostType":4,"isVote":1,"tweetType":1,"viewCount":404,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144971927,"gmtCreate":1626264920869,"gmtModify":1703756613947,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144971927","repostId":"1137188160","repostType":4,"isVote":1,"tweetType":1,"viewCount":373,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144973198,"gmtCreate":1626264889114,"gmtModify":1703756613134,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144973198","repostId":"1165924722","repostType":4,"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144979205,"gmtCreate":1626264871107,"gmtModify":1703756612005,"author":{"id":"4089365658562430","authorId":"4089365658562430","name":"Goiii","avatar":"https://static.tigerbbs.com/e3a62958fe2bce64a9201fab747709cf","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4089365658562430","authorIdStr":"4089365658562430"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/144979205","repostId":"1165924722","repostType":4,"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}