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2021-09-24

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EngageSmart opens for trading at $37, up about 43.6% from IPO price

2021-09-21

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Dow erases a 343-point rebound and turns red

2021-09-17

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3 Ultra-Popular Stocks With 81% to 98% Downside, According to Wall Street

2021-09-16

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U.S. stocks close lower on worries over recovery, corporate tax hikes

2021-09-13

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2021-09-10

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2021-09-09

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Bitcoin Endured a Rocky Day. What's Behind the Selloff

2021-09-07

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Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?

2021-09-02

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2021-09-01

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2021-08-31

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2021-08-28

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2021-08-27

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JOYY's top shareholders plan take-private deal, value firm at up to $8 bln -sources

2021-08-26

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Why Dogecoin, Ethereum, and XRP Dropped Today

2021-08-24

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2021-08-24

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2021-08-24

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2021-08-23

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2021-08-22

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Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla

2021-08-19

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Nvidia: The Next 'Never Sell' Stock?

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Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p>\n<p>The company's primary offerings include:</p>\n<ul>\n <li>SimplePractice - Wellness</li>\n <li>InvoiceCloud - Government, Utilities and Financial Services</li>\n <li>HealthPay24 - Healthcare</li>\n <li>DonorDrive - Non-profit and Corporate Fundraising</li>\n</ul>\n<p>EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p>\n<p>As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>32.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>33.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>43.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>1.1</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>1.3</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p>\n<p>ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Rule of 40</b></p></td>\n   <td><p><b>Calculation</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Recent Rev. Growth %</p></td>\n   <td><p>59%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>5%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>64%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p>\n<p>This represents a forecast CAGR of 12.65% from 2021 to 2026.</p>\n<p>The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p>\n<p>Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p>\n<p>Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p>\n<p><img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p>\n<ul>\n <li><p>IBM(NYSE:IBM)</p></li>\n <li><p>Microsoft(NASDAQ:MSFT)</p></li>\n <li><p>Nuance(NASDAQ:NUAN)</p></li>\n <li><p>Oracle(NYSE:ORCL)</p></li>\n <li><p>Salesforce(NYSE:CRM)</p></li>\n <li><p>Avaya(NYSE:AVYA)</p></li>\n <li><p>Calabrio</p></li>\n <li><p>Aspect Software</p></li>\n <li><p>Genesys</p></li>\n <li><p>Verint Systems(NASDAQ:VRNT)</p></li>\n <li><p>NICE Ltd.(NASDAQ:NICE)</p></li>\n <li><p>OpenText</p></li>\n <li><p>Pegasystems(NASDAQ:PEGA)</p></li>\n <li><p>Others</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>EngageSmart's recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Growing topline revenue</p></li>\n <li><p>Increasing gross profit and high gross margin</p></li>\n <li><p>Growing operating profit and net income</p></li>\n <li><p>Increasing cash flow from operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm's registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 99,171,000</p></td>\n   <td><p>58.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 146,557,000</p></td>\n   <td><p>77.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 82,432,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 73,673,000</p></td>\n   <td><p>61.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 108,964,000</p></td>\n   <td><p>89.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 57,591,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>74.29%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>74.35%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>69.86%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 5,001,000</p></td>\n   <td><p>5.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 648,000</p></td>\n   <td><p>0.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (50,398,000)</p></td>\n   <td><p>-61.1%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 274,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (6,678,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (53,598,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 12,044,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 19,645,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (1,427,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p>\n<p>New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p>\n<p>Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p>\n<blockquote>\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n</blockquote>\n<blockquote>\n Source: SEC\n</blockquote>\n<p>Management's presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p>\n<p>Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$3,862,956,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$3,656,695,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>21.09</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>19.96</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>377.37</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>9.04%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$24.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$25,236,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>0.65%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>58.59%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Metric</b></p></td>\n   <td><p><b>Nice Ltd.</b></p></td>\n   <td><p><b>EngageSmart</b></p></td>\n   <td><p><b>Variance</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>11.01</p></td>\n   <td><p>21.09</p></td>\n   <td><p>91.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>10.67</p></td>\n   <td><p>19.96</p></td>\n   <td><p>87.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>41.73</p></td>\n   <td><p>377.37</p></td>\n   <td><p>804.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$3.05</p></td>\n   <td><p>$0.00</p></td>\n   <td><p>-100.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>5.3%</p></td>\n   <td><p>58.59%</p></td>\n   <td><p>1003.34%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>(S-1/A andSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p>\n<p>The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p>\n<p>The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p>\n<p>As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p>\n<p>Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p>\n<p>Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</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>EngageSmart opens for trading at $37, up about 43.6% from IPO price</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\">\nEngageSmart opens for trading at $37, up about 43.6% from IPO price\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\">2021-09-23 23:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company</b></p>\n<p>Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p>\n<p>Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p>\n<p>The company's primary offerings include:</p>\n<ul>\n <li>SimplePractice - Wellness</li>\n <li>InvoiceCloud - Government, Utilities and Financial Services</li>\n <li>HealthPay24 - Healthcare</li>\n <li>DonorDrive - Non-profit and Corporate Fundraising</li>\n</ul>\n<p>EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p>\n<p>As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>32.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>33.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>43.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>1.1</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>1.3</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p>\n<p>ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Rule of 40</b></p></td>\n   <td><p><b>Calculation</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Recent Rev. Growth %</p></td>\n   <td><p>59%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>5%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>64%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p>\n<p>This represents a forecast CAGR of 12.65% from 2021 to 2026.</p>\n<p>The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p>\n<p>Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p>\n<p>Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p>\n<p><img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p>\n<ul>\n <li><p>IBM(NYSE:IBM)</p></li>\n <li><p>Microsoft(NASDAQ:MSFT)</p></li>\n <li><p>Nuance(NASDAQ:NUAN)</p></li>\n <li><p>Oracle(NYSE:ORCL)</p></li>\n <li><p>Salesforce(NYSE:CRM)</p></li>\n <li><p>Avaya(NYSE:AVYA)</p></li>\n <li><p>Calabrio</p></li>\n <li><p>Aspect Software</p></li>\n <li><p>Genesys</p></li>\n <li><p>Verint Systems(NASDAQ:VRNT)</p></li>\n <li><p>NICE Ltd.(NASDAQ:NICE)</p></li>\n <li><p>OpenText</p></li>\n <li><p>Pegasystems(NASDAQ:PEGA)</p></li>\n <li><p>Others</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>EngageSmart's recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Growing topline revenue</p></li>\n <li><p>Increasing gross profit and high gross margin</p></li>\n <li><p>Growing operating profit and net income</p></li>\n <li><p>Increasing cash flow from operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm's registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 99,171,000</p></td>\n   <td><p>58.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 146,557,000</p></td>\n   <td><p>77.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 82,432,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 73,673,000</p></td>\n   <td><p>61.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 108,964,000</p></td>\n   <td><p>89.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 57,591,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>74.29%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>74.35%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>69.86%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 5,001,000</p></td>\n   <td><p>5.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 648,000</p></td>\n   <td><p>0.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (50,398,000)</p></td>\n   <td><p>-61.1%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 274,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (6,678,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (53,598,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 12,044,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 19,645,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (1,427,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p>\n<p>New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p>\n<p>Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p>\n<blockquote>\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n</blockquote>\n<blockquote>\n Source: SEC\n</blockquote>\n<p>Management's presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p>\n<p>Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$3,862,956,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$3,656,695,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>21.09</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>19.96</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>377.37</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>9.04%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$24.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$25,236,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>0.65%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>58.59%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Metric</b></p></td>\n   <td><p><b>Nice Ltd.</b></p></td>\n   <td><p><b>EngageSmart</b></p></td>\n   <td><p><b>Variance</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>11.01</p></td>\n   <td><p>21.09</p></td>\n   <td><p>91.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>10.67</p></td>\n   <td><p>19.96</p></td>\n   <td><p>87.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>41.73</p></td>\n   <td><p>377.37</p></td>\n   <td><p>804.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$3.05</p></td>\n   <td><p>$0.00</p></td>\n   <td><p>-100.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>5.3%</p></td>\n   <td><p>58.59%</p></td>\n   <td><p>1003.34%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>(S-1/A andSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p>\n<p>The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p>\n<p>The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p>\n<p>As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p>\n<p>Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p>\n<p>Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ESMT":"EngageSmart Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159478468","content_text":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.\nManagement is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.\nThe company's primary offerings include:\n\nSimplePractice - Wellness\nInvoiceCloud - Government, Utilities and Financial Services\nHealthPay24 - Healthcare\nDonorDrive - Non-profit and Corporate Fundraising\n\nEngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.\nCustomer Acquisition\nThe firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.\nAs of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:\n\n\n\n\nSelling and Marketing\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n32.4%\n\n\n2020\n33.1%\n\n\n2019\n43.1%\n\n\n\nSource: SEC\nThe Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling and Marketing\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.1\n\n\n2020\n1.3\n\n\n\nSource: SEC\nThe Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.\nESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n59%\n\n\nEBITDA %\n5%\n\n\nTotal\n64%\n\n\n\nSource: SEC\nThe firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.\nMarket & Competition\nAccording to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.\nThis represents a forecast CAGR of 12.65% from 2021 to 2026.\nThe main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.\nAlso, a desire to reduce customer churn rate results in improved business financials and growing valuation.\nBelow is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:\nMajor competitive or other industry participants include:\n\nIBM(NYSE:IBM)\nMicrosoft(NASDAQ:MSFT)\nNuance(NASDAQ:NUAN)\nOracle(NYSE:ORCL)\nSalesforce(NYSE:CRM)\nAvaya(NYSE:AVYA)\nCalabrio\nAspect Software\nGenesys\nVerint Systems(NASDAQ:VRNT)\nNICE Ltd.(NASDAQ:NICE)\nOpenText\nPegasystems(NASDAQ:PEGA)\nOthers\n\nFinancial Performance\nEngageSmart's recent financial results can be summarized as follows:\n\nGrowing topline revenue\nIncreasing gross profit and high gross margin\nGrowing operating profit and net income\nIncreasing cash flow from operations\n\nBelow are relevant financial results derived from the firm's registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 99,171,000\n58.6%\n\n\n2020\n$ 146,557,000\n77.8%\n\n\n2019\n$ 82,432,000\n\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 73,673,000\n61.4%\n\n\n2020\n$ 108,964,000\n89.2%\n\n\n2019\n$ 57,591,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n74.29%\n\n\n2020\n74.35%\n\n\n2019\n69.86%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 5,001,000\n5.0%\n\n\n2020\n$ 648,000\n0.4%\n\n\n2019\n$ (50,398,000)\n-61.1%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 274,000\n\n\n2020\n$ (6,678,000)\n\n\n2019\n$ (53,598,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 12,044,000\n\n\n2020\n$ 19,645,000\n\n\n2019\n$ (1,427,000)\n\n\n\n(Glossary Of Terms)\n\n\n\nSource: SEC\nAs of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $25.2 million.\nIPO Details\nESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.\nNew potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.\nPer the firm's most recent regulatory filing, it plans to use the net proceeds as follows:\n\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n\n\n Source: SEC\n\nManagement's presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.\nListed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.\nValuation Metrics\nBelow is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$3,862,956,720\n\n\nEnterprise Value\n$3,656,695,720\n\n\nPrice / Sales\n21.09\n\n\nEV / Revenue\n19.96\n\n\nEV / EBITDA\n377.37\n\n\nEarnings Per Share\n$0.00\n\n\nFloat To Outstanding Shares Ratio\n9.04%\n\n\nProposed IPO Midpoint Price per Share\n$24.00\n\n\nNet Free Cash Flow\n$25,236,000\n\n\nFree Cash Flow Yield Per Share\n0.65%\n\n\nRevenue Growth Rate\n58.59%\n\n\n\n\nSource: SEC\nAs a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nNice Ltd.\nEngageSmart\nVariance\n\n\nPrice / Sales\n11.01\n21.09\n91.5%\n\n\nEV / Revenue\n10.67\n19.96\n87.1%\n\n\nEV / EBITDA\n41.73\n377.37\n804.3%\n\n\nEarnings Per Share\n$3.05\n$0.00\n-100.0%\n\n\nRevenue Growth Rate\n5.3%\n58.59%\n1003.34%\n\n\n\n\n(S-1/A andSeeking Alpha)\nCommentary\nESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.\nThe firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.\nFree cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.\nThe company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.\nAs for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.\nAlso, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.\nGiven the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.","news_type":1},"isVote":1,"tweetType":1,"viewCount":677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869975660,"gmtCreate":1632239416550,"gmtModify":1676530733001,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/869975660","repostId":"1154232593","repostType":4,"repost":{"id":"1154232593","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":1632236324,"share":"https://www.laohu8.com/m/news/1154232593?lang=&edition=full","pubTime":"2021-09-21 22:58","market":"other","language":"en","title":"Dow erases a 343-point rebound and turns red","url":"https://stock-news.laohu8.com/highlight/detail?id=1154232593","media":"Tiger Newspress","summary":"(Sept 21) After yesterday afternoon's surge higher, futures markets overnight extended the momentum,","content":"<p>(Sept 21)&nbsp;After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).</p>\n<p>Since then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&amp;P, Dow, and Nasdaq into the red for the day...</p>\n<p><img src=\"https://static.tigerbbs.com/098e0b3b1c0255545ee40a5e5ac19c60\" tg-width=\"1232\" tg-height=\"578\" referrerpolicy=\"no-referrer\"></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>Dow erases a 343-point rebound and turns red</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\">\nDow erases a 343-point rebound and turns red\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\">2021-09-21 22:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 21)&nbsp;After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).</p>\n<p>Since then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&amp;P, Dow, and Nasdaq into the red for the day...</p>\n<p><img src=\"https://static.tigerbbs.com/098e0b3b1c0255545ee40a5e5ac19c60\" tg-width=\"1232\" tg-height=\"578\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154232593","content_text":"(Sept 21) After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).\nSince then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&P, Dow, and Nasdaq into the red for the day...","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885450860,"gmtCreate":1631826292350,"gmtModify":1676530644168,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Yq","listText":"Yq","text":"Yq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/885450860","repostId":"2167651799","repostType":4,"repost":{"id":"2167651799","pubTimestamp":1631806223,"share":"https://www.laohu8.com/m/news/2167651799?lang=&edition=full","pubTime":"2021-09-16 23:30","market":"us","language":"en","title":"3 Ultra-Popular Stocks With 81% to 98% Downside, According to Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2167651799","media":"Motley Fool","summary":"Certain analysts and investment banks see these stocks losing a majority of their value.","content":"<p>A quick look at the long-term chart of the benchmark <b>S&amp;P 500</b> will demonstrate to any investor that optimism is rewarded over the long run. However, just because the broader market indexes head higher over time, it doesn't mean all stocks will be winners -- and Wall Street knows it.</p>\n<p>Although a vast majority of Wall Street ratings and price targets on publicly traded companies portend upside, some analysts see nothing short of calamity in the months and years that lie ahead for some of the most popular stocks. Based on the lowest Wall Street price target, the following three ultra-popular stocks could tumble between 81% and 98%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c4445b731e2c9c6acb2e5395056b6719\" tg-width=\"700\" tg-height=\"524\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>Moderna: Implied downside of 81%</h2>\n<p>Biotech stock <b>Moderna</b> (NASDAQ:MRNA) has been <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the fastest-growing and most successful investments since the beginning of 2020. However, Leerink Partners analyst Mani Foroohar sees things differently. Foroohar and Leerink have stuck by their sell rating and $85 price target on the company as it's soared. If Moderna were to fall back to $85, it would shed 81% of its value.</p>\n<p>On one hand, Moderna has been practically unstoppable, thanks to the successful development of mRNA-1273, one of the coronavirus disease 2019 (COVID-19) vaccines to receive emergency-use authorization in the United States. In late-stage clinical studies released last November, Moderna's two-dose regimen of mRNA-1273 led to a vaccine efficacy (VE) of 94.1%. Even though recent studies have shown that VE wanes over time, the initial VE offered by mRNA-1273 has made it one of the two most-popular inoculation options in developed markets.</p>\n<p>Also working in Moderna's favor is the possibility that COVID-19 vaccines could become a recurring/seasonal thing. Mutations and variations of COVID-19 make it increasingly likely that it'll become an endemic disease. Without the ability to rid COVID-19 from the U.S. and other countries, booster shots may be necessary to combat it. In other words, Moderna's one-hit wonder could become a regular revenue stream.</p>\n<p>On the other hand, mRNA-1273 is Moderna's only revenue-producing asset, and competition in the vaccine space is only destined to become more crowded. Even if Moderna's vaccine remains toward the top end in terms of efficacy, the sheer volume of doses that need to be administered globally will open the door to other successful drugmakers.</p>\n<p>While Leerink's price target is potentially too aggressive to the downside, Moderna does have a lot to prove with a $181 billion market cap and only one marketed drug.</p>\n<p class=\"t-img-caption\"><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F642857%2Flordstown-endurance-steve-burns-ceo.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Now-former CEO Steve Burns standing next to a prototype of the Endurance all-electric. pickup. Image source: Lordstown Motors.</span></p>\n<h2>Lordstown Motors: Implied downside of 84%</h2>\n<p>Over the next decade, electric vehicles (EVs) could be one of the fastest-growing industries in North America. But Wall Street isn't too keen on one EV manufacturer, in particular: <b>Lordstown Motors</b> (NASDAQ:RIDE).</p>\n<p>According to analyst Joseph Spak at RBC Capital, Lordstown is worthy of an underperform rating and a $1 price target. If this price target becomes a reality, Lordstown's shares will have fallen 84%.</p>\n<p>Whereas there was both a clear bull and bear argument to share about Moderna above, the same can't be said of Lordstown Motors. It's been nothing short of a disaster.</p>\n<p>In March, a number of allegations were levied against the company by short-side firm Hindenburg Research. Although a number of these allegations proved to be without merit, a committee formed by Lordstown's independent directors found that the company had exaggerated the number of pre-orders of its Endurance EV pickup. Both Lordstown's CEO Steve Burns and CFO Julio Rodriguez resigned in the wake of these findings.</p>\n<p>To make matters worse, Lordstown Motors may not have enough capital to survive the next year. It costs a pretty penny to build a new automaker from the ground up. Even though the company ended June with $366 million in cash, it reported a second-quarter loss of $108 million.</p>\n<p>The real issue, as my auto-focused colleague John Rosevear notes, is that the company's Endurance pickup isn't anywhere close to being on schedule. Lordstown will probably see Endurance deliveries to customers commence in the second quarter of 2022, which doesn't exactly align with the idea put forward by the company that production would begin in September.</p>\n<p>With few avenues to raise cash and lukewarm demand for Endurance, a $1 price target may even prove too generous.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15eab863c856018bec9ca4a17856fe6d\" tg-width=\"700\" tg-height=\"466\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images.</span></p>\n<h2>AMC Entertainment: Implied downside of 98%</h2>\n<p>And then there was meme stock kingpin <b>AMC Entertainment</b> (NYSE:AMC). AMC shouldn't be a surprise on this list, as the most bullish investment bank on Wall Street sees the company losing nearly 70% of its value, as of this past weekend. On the other end of the spectrum, Alan Gould at Loop Capital foresees AMC eventually heading back to $1 a share. That would be a decline of 98%, for those of you keeping score at home.</p>\n<p>The reason AMC has shot out of a cannon and pushed well beyond Wall Street's collective price targets is the unwavering support of retail investors who believe it'll undergo another short squeeze. This is a very short-term event whereby pessimists who are betting against a stock (i.e., short-sellers) run for the exit at the same time. Since short-sellers have to buy shares to cover their short positions, it can cause a rising stock price to briefly go parabolic.</p>\n<p>But as Gould and other analysts have noted with AMC, the numbers don't add up. While it's impossible to pinpoint when emotion will stop being the driving force behind AMC, the operating performance of a company and its balance sheet always dictate the long-term price performance of a company's stock. In this respect, the movie-theater industry has been in a nearly two-decade decline, with streaming services siphoning off moviegoers and AMC building up share in an industry where the proverbial pie is getting smaller.</p>\n<p>The far greater concern for AMC is the amount of leverage it took on to survive the pandemic. Although the company ended June with $2.023 billion in liquidity ($1.81 billion of which is cash), it's also sitting on nearly $5.5 billion in corporate debt, $420 million in deferred rent, and close to $4.9 billion in lease liabilities.</p>\n<p>By the end of 2023, the company expects to lay out $2.51 billion, at minimum, for lease liabilities and will likely have to repay its $420 million in back rent. That's $2.9 billion in upcoming payments over a 30-month period for a company that's still burning cash and has only $2 billion in liquidity.</p>\n<p>To boot, AMC's retail investors won't approve any additional share offerings, leaving the company with no avenues to further raise capital. As with Lordstown, even a $1 price target might be generous when given enough time.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Ultra-Popular Stocks With 81% to 98% Downside, According to Wall Street</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Ultra-Popular Stocks With 81% to 98% Downside, According to Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-16 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/09/16/3-ultra-popular-stocks-with-81-to-98-downside/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A quick look at the long-term chart of the benchmark S&P 500 will demonstrate to any investor that optimism is rewarded over the long run. However, just because the broader market indexes head higher ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/16/3-ultra-popular-stocks-with-81-to-98-downside/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc.","AMC":"AMC院线"},"source_url":"https://www.fool.com/investing/2021/09/16/3-ultra-popular-stocks-with-81-to-98-downside/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167651799","content_text":"A quick look at the long-term chart of the benchmark S&P 500 will demonstrate to any investor that optimism is rewarded over the long run. However, just because the broader market indexes head higher over time, it doesn't mean all stocks will be winners -- and Wall Street knows it.\nAlthough a vast majority of Wall Street ratings and price targets on publicly traded companies portend upside, some analysts see nothing short of calamity in the months and years that lie ahead for some of the most popular stocks. Based on the lowest Wall Street price target, the following three ultra-popular stocks could tumble between 81% and 98%.\nImage source: Getty Images.\nModerna: Implied downside of 81%\nBiotech stock Moderna (NASDAQ:MRNA) has been one of the fastest-growing and most successful investments since the beginning of 2020. However, Leerink Partners analyst Mani Foroohar sees things differently. Foroohar and Leerink have stuck by their sell rating and $85 price target on the company as it's soared. If Moderna were to fall back to $85, it would shed 81% of its value.\nOn one hand, Moderna has been practically unstoppable, thanks to the successful development of mRNA-1273, one of the coronavirus disease 2019 (COVID-19) vaccines to receive emergency-use authorization in the United States. In late-stage clinical studies released last November, Moderna's two-dose regimen of mRNA-1273 led to a vaccine efficacy (VE) of 94.1%. Even though recent studies have shown that VE wanes over time, the initial VE offered by mRNA-1273 has made it one of the two most-popular inoculation options in developed markets.\nAlso working in Moderna's favor is the possibility that COVID-19 vaccines could become a recurring/seasonal thing. Mutations and variations of COVID-19 make it increasingly likely that it'll become an endemic disease. Without the ability to rid COVID-19 from the U.S. and other countries, booster shots may be necessary to combat it. In other words, Moderna's one-hit wonder could become a regular revenue stream.\nOn the other hand, mRNA-1273 is Moderna's only revenue-producing asset, and competition in the vaccine space is only destined to become more crowded. Even if Moderna's vaccine remains toward the top end in terms of efficacy, the sheer volume of doses that need to be administered globally will open the door to other successful drugmakers.\nWhile Leerink's price target is potentially too aggressive to the downside, Moderna does have a lot to prove with a $181 billion market cap and only one marketed drug.\nNow-former CEO Steve Burns standing next to a prototype of the Endurance all-electric. pickup. Image source: Lordstown Motors.\nLordstown Motors: Implied downside of 84%\nOver the next decade, electric vehicles (EVs) could be one of the fastest-growing industries in North America. But Wall Street isn't too keen on one EV manufacturer, in particular: Lordstown Motors (NASDAQ:RIDE).\nAccording to analyst Joseph Spak at RBC Capital, Lordstown is worthy of an underperform rating and a $1 price target. If this price target becomes a reality, Lordstown's shares will have fallen 84%.\nWhereas there was both a clear bull and bear argument to share about Moderna above, the same can't be said of Lordstown Motors. It's been nothing short of a disaster.\nIn March, a number of allegations were levied against the company by short-side firm Hindenburg Research. Although a number of these allegations proved to be without merit, a committee formed by Lordstown's independent directors found that the company had exaggerated the number of pre-orders of its Endurance EV pickup. Both Lordstown's CEO Steve Burns and CFO Julio Rodriguez resigned in the wake of these findings.\nTo make matters worse, Lordstown Motors may not have enough capital to survive the next year. It costs a pretty penny to build a new automaker from the ground up. Even though the company ended June with $366 million in cash, it reported a second-quarter loss of $108 million.\nThe real issue, as my auto-focused colleague John Rosevear notes, is that the company's Endurance pickup isn't anywhere close to being on schedule. Lordstown will probably see Endurance deliveries to customers commence in the second quarter of 2022, which doesn't exactly align with the idea put forward by the company that production would begin in September.\nWith few avenues to raise cash and lukewarm demand for Endurance, a $1 price target may even prove too generous.\nImage source: Getty Images.\nAMC Entertainment: Implied downside of 98%\nAnd then there was meme stock kingpin AMC Entertainment (NYSE:AMC). AMC shouldn't be a surprise on this list, as the most bullish investment bank on Wall Street sees the company losing nearly 70% of its value, as of this past weekend. On the other end of the spectrum, Alan Gould at Loop Capital foresees AMC eventually heading back to $1 a share. That would be a decline of 98%, for those of you keeping score at home.\nThe reason AMC has shot out of a cannon and pushed well beyond Wall Street's collective price targets is the unwavering support of retail investors who believe it'll undergo another short squeeze. This is a very short-term event whereby pessimists who are betting against a stock (i.e., short-sellers) run for the exit at the same time. Since short-sellers have to buy shares to cover their short positions, it can cause a rising stock price to briefly go parabolic.\nBut as Gould and other analysts have noted with AMC, the numbers don't add up. While it's impossible to pinpoint when emotion will stop being the driving force behind AMC, the operating performance of a company and its balance sheet always dictate the long-term price performance of a company's stock. In this respect, the movie-theater industry has been in a nearly two-decade decline, with streaming services siphoning off moviegoers and AMC building up share in an industry where the proverbial pie is getting smaller.\nThe far greater concern for AMC is the amount of leverage it took on to survive the pandemic. Although the company ended June with $2.023 billion in liquidity ($1.81 billion of which is cash), it's also sitting on nearly $5.5 billion in corporate debt, $420 million in deferred rent, and close to $4.9 billion in lease liabilities.\nBy the end of 2023, the company expects to lay out $2.51 billion, at minimum, for lease liabilities and will likely have to repay its $420 million in back rent. That's $2.9 billion in upcoming payments over a 30-month period for a company that's still burning cash and has only $2 billion in liquidity.\nTo boot, AMC's retail investors won't approve any additional share offerings, leaving the company with no avenues to further raise capital. As with Lordstown, even a $1 price target might be generous when given enough time.","news_type":1},"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885006896,"gmtCreate":1631739402815,"gmtModify":1676530620713,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/885006896","repostId":"1148341685","repostType":4,"repost":{"id":"1148341685","pubTimestamp":1631660884,"share":"https://www.laohu8.com/m/news/1148341685?lang=&edition=full","pubTime":"2021-09-15 07:08","market":"us","language":"en","title":"U.S. stocks close lower on worries over recovery, corporate tax hikes","url":"https://stock-news.laohu8.com/highlight/detail?id=1148341685","media":"Reuters","summary":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing","content":"<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.</p>\n<p>Optimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.</p>\n<p>So far this month the S&amp;P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.</p>\n<p>“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”</p>\n<p>The advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.</p>\n<p>“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”</p>\n<p>The CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.</p>\n<p>U.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]</p>\n<p>The long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.</p>\n<p>The Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&amp;P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.</p>\n<p>All 11 major sectors in the S&amp;P 500 ended the session red, with energy and financials suffering the largest percentage drops.</p>\n<p>Apple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&amp;P 500 and the Nasdaq.</p>\n<p>Intuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.</p>\n<p>CureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.</p>\n<p>Declining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.</p>\n<p>The S&amp;P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.</p>\n<p>Volume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.</p>","source":"lsy1601381805984","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks close lower on worries over recovery, corporate tax hikes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stocks close lower on worries over recovery, corporate tax hikes\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-15 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off ...</p>\n\n<a href=\"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/u-s-stocks-close-lower-on-worries-over-recovery-corporate-tax-hikes-idUSKBN2GA0W9","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148341685","content_text":"NEW YORK (Reuters) - Wall Street lost ground on Tuesday as economic uncertainties and the increasing likelihood of a corporate tax rate hike dampened investor sentiment and prompted a broad sell-off despite signs of easing inflation.\nOptimism faded throughout the session, reversing an initial rally following the Labor Department’s consumer price index report. All three major U.S. stock indexes ended in negative territory in a reminder that September is a historically rough month for stocks.\nSo far this month the S&P 500 is down nearly 1.8% even as the benchmark index has gained over 18% since the beginning of the year.\n“There is a possibility that the market is simply ready to go through an overdue correction,” said Sam Stovall, chief investment strategist at CFRA Research in New York. “From a seasonality perspective, September tends to be the window dressing period for fund managers.”\nThe advent of the highly contagious Delta COVID variant has driven an increase in bearish sentiment regarding the recovery from the global health crisis, and many now expect a substantial correction in stock markets by the end of the year.\n“We’re still in a corrective mode that people have been calling for months,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “Economic data points have been missing estimates, and that has coincided with the rise in the Delta variant.”\nThe CPI report delivered a lower-than-consensus August reading, a deceleration that supports Federal Reserve Chairman Jerome Powell’s assertion that spiking inflation is transitory and calms market fears that the central bank will begin tightening monetary policy sooner than expected.\nU.S. Treasury yields dropped on the data, which pressured financial stocks, and investor favor pivoted back to growth at the expense of value. [US/]\nThe long expected corporate tax hikes, to 26.5% from 21% if Democrats prevail, are coming nearer to fruition with U.S. President Joe Biden’s $3.5 trillion budget package inching closer to passage.\nThe Dow Jones Industrial Average fell 292.06 points, or 0.84%, to 34,577.57; the S&P 500 lost 25.68 points, or 0.57%, at 4,443.05; and the Nasdaq Composite dropped 67.82 points, or 0.45%, to 15,037.76.\nAll 11 major sectors in the S&P 500 ended the session red, with energy and financials suffering the largest percentage drops.\nApple Inc unveiled its iPhone 13 and added new features to its iPad and Apple Watch gadgets in its biggest product launch event of the year as the company faces increased scrutiny in the courts over its business practices. Its shares closed down 1.0% and were the heaviest drag on the S&P 500 and the Nasdaq.\nIntuit Inc gained 1.9% following the TurboTax maker’s announcement that it would acquire digital marketing company Mailchimp for $12 billion.\nCureVac slid 8.0% after the German biotechnology company canceled manufacturing deals for its experimental COVID-19 vaccine.\nDeclining issues outnumbered advancing ones on the NYSE by a 2.25-to-1 ratio; on Nasdaq, a 2.40-to-1 ratio favored decliners.\nThe S&P 500 posted two new 52-week highs and two new lows; the Nasdaq Composite recorded 50 new highs and 107 new lows.\nVolume on U.S. exchanges was 10.07 billion shares, compared with the 9.38 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888806066,"gmtCreate":1631482479956,"gmtModify":1676530552396,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/888806066","repostId":"1189654544","repostType":4,"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883785495,"gmtCreate":1631273793517,"gmtModify":1676530515537,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/883785495","repostId":"2166897344","repostType":4,"isVote":1,"tweetType":1,"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889832462,"gmtCreate":1631137303456,"gmtModify":1676530475196,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/889832462","repostId":"1154837170","repostType":4,"repost":{"id":"1154837170","pubTimestamp":1631090918,"share":"https://www.laohu8.com/m/news/1154837170?lang=&edition=full","pubTime":"2021-09-08 16:48","market":"us","language":"en","title":"Bitcoin Endured a Rocky Day. What's Behind the Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837170","media":"Barron's","summary":"It should have been a happy day for Bitcoin, but it’s turned into a rout.Bitcoin  was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.Other cryptos were also ailing, including Ethereum , down 12% to $3,460.The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum ","content":"<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p>\n<p>Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p>\n<p>Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p>\n<p>The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p>\n<p>The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p>\n<p>Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p>\n<p>But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p>\n<p>Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p>\n<p>“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p>\n<p>“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p>\n<p>Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p>\n<p>Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Endured a Rocky Day. What's Behind the Selloff</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\">\nBitcoin Endured a Rocky Day. What's Behind the Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837170","content_text":"It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.\nOther cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.\nThe selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.\nThe down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.\nMerchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.\nBut El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.\nCrypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).\n“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.\n“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”\nOther factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.\nEven if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.","news_type":1},"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880899517,"gmtCreate":1631028751939,"gmtModify":1676530448289,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880899517","repostId":"1130130857","repostType":4,"repost":{"id":"1130130857","pubTimestamp":1631007146,"share":"https://www.laohu8.com/m/news/1130130857?lang=&edition=full","pubTime":"2021-09-07 17:32","market":"us","language":"en","title":"Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?","url":"https://stock-news.laohu8.com/highlight/detail?id=1130130857","media":"Barron's","summary":"What a year this has been for the markets!Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and  a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnin","content":"<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p>\n<p>Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p>\n<p>In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p>\n<p>That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p>\n<p>Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p>\n<p><img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p>\n<p>The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p>\n<p>Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p>\n<p>The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p>\n<p>A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p>\n<p><img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p>\n<p>For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p>\n<p>Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p>\n<p>“We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p>\n<p>The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p>\n<p>Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p>\n<p><img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p>\n<p>As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p>\n<p>If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p>\n<p><img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p>\n<p>Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p>\n<p>If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p>\n<p>Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p>\n<p>A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p>\n<p>An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p>\n<p>These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p>\n<blockquote>\n “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets\n</blockquote>\n<p>The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p>\n<p>RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p>\n<p>“Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p>\n<p>But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p>\n<p>“The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p>\n<p><b>A Shopping List for Fall</b></p>\n<p>Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p>\n<p><img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p>\n<p>Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p>\n<p>“We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p>\n<p>He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p>\n<p>For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p>\n<p>“There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p>\n<p>Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p>\n<p>Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p>\n<p>“We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p>\n<p>Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p>\n<p><a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p>\n<p>Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p>\n<p>Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p>\n<p>Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p>\n<p><a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p>\n<p>After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Strategists Say the Stock Market Could Struggle This Fall. What to Buy 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\">\nStrategists Say the Stock Market Could Struggle This Fall. What to Buy Now?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 17:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&P 500stock index has...</p>\n\n<a href=\"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130130857","content_text":"What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.\nTailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.\nIn other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”\nThat’s the general consensus among the six market strategists and chief investment officers whomBarron’srecently consulted. All see the S&P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.\nNext year’s gains look muted, as well, relative to recent trends. The group expects the S&P 500 to tack on another 6% in 2022, rising to about 4800.\nWith stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.\nThe stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.\nFed Chairman Jerome Powell has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”\nThe government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.\nThe bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.\nA budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.\nOther politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a Washington shutdown in October.\nFor now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.\nInflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.\n“We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”\nThe strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for the bond market—and could be even more so for stocks.\nRising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.\n\nAs long as 10-year Treasury yields stay in the 2% range, the S&P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.\nIf yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says State Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”\n\nWilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says\nIf 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”\nSome P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.\nA potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.\nAn increase of that magnitude would shave about 5% off S&P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a one-time event for the market, some strategists predict.\nThese concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.\n\n “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets\n\nThe State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.\nRBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.\n“Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”\nBut the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.\n“The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”\nA Shopping List for Fall\nMost strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.\n\nAlthough stocks with quality attributes have outperformed the market this summer, according to a BlackRock analysis, the quality factor has lagged since positive vaccine news was first reported last November.\n“We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”\nHe recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.\nFor Wells Fargo’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.\n“There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”\nHarvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),Bank of America(BAC),Northern Trust(NTRS),Lowe’s(LOW),IQVIA Holdings(IQV), andMasco(MAS).\nOverall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.\n“We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.\nCheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.\nHealthcare stocks also have some fans. “Healthcare has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by Morgan Stanley analysts and fitting his macro views.\nNuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.\nMalik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.\nBoth stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of AbbVie’s most promising post-Humira products.\nPfizer(PFE),American Express(AXP),Johnson & Johnson(JNJ), andCisco Systems(CSCO) are other S&P 500 members that pass aBarron’sscreen for quality attributes.\nAfter a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. Just be more selective. And go with quality.","news_type":1},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812551748,"gmtCreate":1630596168684,"gmtModify":1676530352993,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/812551748","repostId":"2164282258","repostType":4,"isVote":1,"tweetType":1,"viewCount":365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816655861,"gmtCreate":1630499783853,"gmtModify":1676530320717,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/816655861","repostId":"2164892587","repostType":4,"isVote":1,"tweetType":1,"viewCount":306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818579696,"gmtCreate":1630422204415,"gmtModify":1676530300190,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/818579696","repostId":"1173998132","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813116055,"gmtCreate":1630149238977,"gmtModify":1676530235043,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/813116055","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810449787,"gmtCreate":1629996566249,"gmtModify":1676530196994,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810449787","repostId":"1126443939","repostType":4,"repost":{"id":"1126443939","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":1629968418,"share":"https://www.laohu8.com/m/news/1126443939?lang=&edition=full","pubTime":"2021-08-26 17:00","market":"us","language":"en","title":"JOYY's top shareholders plan take-private deal, value firm at up to $8 bln -sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1126443939","media":"Reuters","summary":"HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi found","content":"<p>HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion, three people with knowledge of the matter said.</p>\n<p>JOYY Inc&nbsp;shares&nbsp;surged&nbsp;16%&nbsp;in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3a8b34e3c296954b441ee34ac8a63d1b\" tg-width=\"893\" tg-height=\"640\" width=\"100%\" height=\"auto\"></p>\n<p>They are teaming up for the deal as they believe the Chinese social media company is undervalued in the U.S. market, the people added. JOYY had an average market value of $3.9 billion over the past month, while its net asset value totalled $5.6 billion as of June 30, based on its quarterly results.</p>\n<p>Li and Lei are looking to offer $75-$100 per share to take the cash-rich JOYY private, two of the people said, a premium of 50-100% to the share’s average price over the past month.</p>\n<p>The sources all spoke on condition of anonymity as the information was private.</p>\n<p>Li and Lei did not immediately respond to requests for comment via JOYY and Xiaomi, respectively. Neither did JOYY.</p>\n<p>Li and Lei owned 23.2% and 7.8% of JOYY, respectively, the company’s 2020 annual report shows. Li had 76% voting power.</p>\n<p>If completed, the deal will add to a growing number of New York-listed Chinese firms that have already opted out of U.S. bourses by going private or returning to equity markets closer to home via second listings.</p>\n<p>These moves come amid heightened scrutiny and stricter audit requirements https://www.reuters.com/business/finance/exclusive-sec-gives-chinese-companies-new-requirements-us-ipo-disclosures-2021-08-23 for U.S.-listed Chinese companies from American regulators amid political tensions between the countries.</p>\n<p>Reuters reported last month that Weibo Chairman Charles Chao and a state investor were in talks to take Weibo private https://www.reuters.com/article/weibo-privitisation-idCNL2N2OI0WL in a deal that could value the Nasdaq-listed Chinese equivalent of Twitter at $20 billion-plus.</p>\n<p>There were 16 announced take-private deals of U.S.-listed Chinese companies worth $19 billion last year, Dealogic data shows, versus just five such deals worth $8 billion in 2019.</p>\n<p><b>FINANCE AND REGULATORY NOD</b></p>\n<p>The Li-Lei consortium is in talks with banks to finance the deal and seeks to secure a loan by using JOYY’s $4.9 billion cash and cash equivalents as collateral, two of the sources said, adding it aims to finalize the deal by the end of 2021.</p>\n<p>The plan is to then spin off JOYY’s key asset, Singapore-based Bigo – which runs a live streaming platform Bigo Live and short video business Likee, and list it in Asia, likely in Hong Kong, to take advantage of higher valuations, one source added.</p>\n<p>Founded in 2005, JOYY went public on the Nasdaq in 2012. It also runs game-focused social media platform Hago and owns a 16% stake in Chinese videogame streaming site Huya.</p>\n<p>JOYY said in November that it would sell its video-based entertainment live streaming business in China to search engine giant Baidu Inc for about $3.6 billion in cash.</p>\n<p>The sale is waiting to be green lit by the antitrust watchdog State Administration for Market Regulation (SAMR) to reach a final close in the coming weeks, the sources said.</p>\n<p>The SAMR nod would also allow JOYY to receive the remaining proceeds of about $1.6 billion from Baidu, they added.</p>\n<p>The SAMR did not immediately respond to a Reuters’ request for comment.</p>\n<p>JOYY shares have plunged 53% in the past six months while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the exchange, has dropped 41%.</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>JOYY's top shareholders plan take-private deal, value firm at up to $8 bln -sources</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\">\nJOYY's top shareholders plan take-private deal, value firm at up to $8 bln -sources\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\">2021-08-26 17:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion, three people with knowledge of the matter said.</p>\n<p>JOYY Inc&nbsp;shares&nbsp;surged&nbsp;16%&nbsp;in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3a8b34e3c296954b441ee34ac8a63d1b\" tg-width=\"893\" tg-height=\"640\" width=\"100%\" height=\"auto\"></p>\n<p>They are teaming up for the deal as they believe the Chinese social media company is undervalued in the U.S. market, the people added. JOYY had an average market value of $3.9 billion over the past month, while its net asset value totalled $5.6 billion as of June 30, based on its quarterly results.</p>\n<p>Li and Lei are looking to offer $75-$100 per share to take the cash-rich JOYY private, two of the people said, a premium of 50-100% to the share’s average price over the past month.</p>\n<p>The sources all spoke on condition of anonymity as the information was private.</p>\n<p>Li and Lei did not immediately respond to requests for comment via JOYY and Xiaomi, respectively. Neither did JOYY.</p>\n<p>Li and Lei owned 23.2% and 7.8% of JOYY, respectively, the company’s 2020 annual report shows. Li had 76% voting power.</p>\n<p>If completed, the deal will add to a growing number of New York-listed Chinese firms that have already opted out of U.S. bourses by going private or returning to equity markets closer to home via second listings.</p>\n<p>These moves come amid heightened scrutiny and stricter audit requirements https://www.reuters.com/business/finance/exclusive-sec-gives-chinese-companies-new-requirements-us-ipo-disclosures-2021-08-23 for U.S.-listed Chinese companies from American regulators amid political tensions between the countries.</p>\n<p>Reuters reported last month that Weibo Chairman Charles Chao and a state investor were in talks to take Weibo private https://www.reuters.com/article/weibo-privitisation-idCNL2N2OI0WL in a deal that could value the Nasdaq-listed Chinese equivalent of Twitter at $20 billion-plus.</p>\n<p>There were 16 announced take-private deals of U.S.-listed Chinese companies worth $19 billion last year, Dealogic data shows, versus just five such deals worth $8 billion in 2019.</p>\n<p><b>FINANCE AND REGULATORY NOD</b></p>\n<p>The Li-Lei consortium is in talks with banks to finance the deal and seeks to secure a loan by using JOYY’s $4.9 billion cash and cash equivalents as collateral, two of the sources said, adding it aims to finalize the deal by the end of 2021.</p>\n<p>The plan is to then spin off JOYY’s key asset, Singapore-based Bigo – which runs a live streaming platform Bigo Live and short video business Likee, and list it in Asia, likely in Hong Kong, to take advantage of higher valuations, one source added.</p>\n<p>Founded in 2005, JOYY went public on the Nasdaq in 2012. It also runs game-focused social media platform Hago and owns a 16% stake in Chinese videogame streaming site Huya.</p>\n<p>JOYY said in November that it would sell its video-based entertainment live streaming business in China to search engine giant Baidu Inc for about $3.6 billion in cash.</p>\n<p>The sale is waiting to be green lit by the antitrust watchdog State Administration for Market Regulation (SAMR) to reach a final close in the coming weeks, the sources said.</p>\n<p>The SAMR nod would also allow JOYY to receive the remaining proceeds of about $1.6 billion from Baidu, they added.</p>\n<p>The SAMR did not immediately respond to a Reuters’ request for comment.</p>\n<p>JOYY shares have plunged 53% in the past six months while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the exchange, has dropped 41%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YY":"欢聚集团","01810":"小米集团-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126443939","content_text":"HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion, three people with knowledge of the matter said.\nJOYY Inc shares surged 16% in premarket trading.\n\nThey are teaming up for the deal as they believe the Chinese social media company is undervalued in the U.S. market, the people added. JOYY had an average market value of $3.9 billion over the past month, while its net asset value totalled $5.6 billion as of June 30, based on its quarterly results.\nLi and Lei are looking to offer $75-$100 per share to take the cash-rich JOYY private, two of the people said, a premium of 50-100% to the share’s average price over the past month.\nThe sources all spoke on condition of anonymity as the information was private.\nLi and Lei did not immediately respond to requests for comment via JOYY and Xiaomi, respectively. Neither did JOYY.\nLi and Lei owned 23.2% and 7.8% of JOYY, respectively, the company’s 2020 annual report shows. Li had 76% voting power.\nIf completed, the deal will add to a growing number of New York-listed Chinese firms that have already opted out of U.S. bourses by going private or returning to equity markets closer to home via second listings.\nThese moves come amid heightened scrutiny and stricter audit requirements https://www.reuters.com/business/finance/exclusive-sec-gives-chinese-companies-new-requirements-us-ipo-disclosures-2021-08-23 for U.S.-listed Chinese companies from American regulators amid political tensions between the countries.\nReuters reported last month that Weibo Chairman Charles Chao and a state investor were in talks to take Weibo private https://www.reuters.com/article/weibo-privitisation-idCNL2N2OI0WL in a deal that could value the Nasdaq-listed Chinese equivalent of Twitter at $20 billion-plus.\nThere were 16 announced take-private deals of U.S.-listed Chinese companies worth $19 billion last year, Dealogic data shows, versus just five such deals worth $8 billion in 2019.\nFINANCE AND REGULATORY NOD\nThe Li-Lei consortium is in talks with banks to finance the deal and seeks to secure a loan by using JOYY’s $4.9 billion cash and cash equivalents as collateral, two of the sources said, adding it aims to finalize the deal by the end of 2021.\nThe plan is to then spin off JOYY’s key asset, Singapore-based Bigo – which runs a live streaming platform Bigo Live and short video business Likee, and list it in Asia, likely in Hong Kong, to take advantage of higher valuations, one source added.\nFounded in 2005, JOYY went public on the Nasdaq in 2012. It also runs game-focused social media platform Hago and owns a 16% stake in Chinese videogame streaming site Huya.\nJOYY said in November that it would sell its video-based entertainment live streaming business in China to search engine giant Baidu Inc for about $3.6 billion in cash.\nThe sale is waiting to be green lit by the antitrust watchdog State Administration for Market Regulation (SAMR) to reach a final close in the coming weeks, the sources said.\nThe SAMR nod would also allow JOYY to receive the remaining proceeds of about $1.6 billion from Baidu, they added.\nThe SAMR did not immediately respond to a Reuters’ request for comment.\nJOYY shares have plunged 53% in the past six months while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the exchange, has dropped 41%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837709487,"gmtCreate":1629910943449,"gmtModify":1676530170921,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/837709487","repostId":"2162540270","repostType":4,"repost":{"id":"2162540270","pubTimestamp":1629905417,"share":"https://www.laohu8.com/m/news/2162540270?lang=&edition=full","pubTime":"2021-08-25 23:30","market":"us","language":"en","title":"Why Dogecoin, Ethereum, and XRP Dropped Today","url":"https://stock-news.laohu8.com/highlight/detail?id=2162540270","media":"Motley Fool","summary":"First it was the SEC. Now, the U.S. Treasury puts a bullseye on cryptocurrency.","content":"<h2>What happened</h2>\n<p>It's Wednesday, and cryptocurrency prices are fading once more. As of 10:30 a.m. EDT, here's how prices look for several of the biggest names in cryptocurrency:</p>\n<ul>\n <li>Industry bellwether<b> Bitcoin </b>(CRYPTO:BTC) is down 0.8% over the last 24 hours, according to data from Coindesk.</li>\n <li><b>Ethereum </b>(CRYPTO:ETH) is off 2.5%.</li>\n <li><b>XRP </b>(CRYPTO:XRP), the token closely associated with Ripple, has fallen 3%.</li>\n <li>And <b>Dogecoin </b>(CRYPTO:DOGE) is suffering most of all, declining 4.1%.</li>\n</ul>\n<p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F640657%2Fbitcoin-symbol-pinned-to-a-dartboard.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"630\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Image source: Getty Images.</p>\n<h2>So what</h2>\n<p>Earlier this month, new Securities and Exchange Commission chairman Gary Gensler sparked a minor freakout among cryptocurrency investors when he linked cryptocurrency trading with \"fraud\" in an interview with Bloomberg, and urged Congress to establish a \"robust oversight regime\" for the cryptocurrency market. Today, the woman Gensler replaced as head of the SEC -- now-Treasury Secretary Janet Yellen -- was quoted by <i>The Washington Post</i> echoing Gensler's concerns.</p>\n<p>Cryptocurrency \"is often [used] for illicit finance,\" said Yellen, adding that \"it's an extremely inefficient way of conducting transactions,\" a \"highly speculative asset\" -- oh, and \"the amount of energy that's consumed in processing those transactions is staggering,\" to boot!</p>\n<p>To put the icing on the cake, Yellen has also apparently advocated creating a \"central bank digital currency\" to compete with Bitcoin and other independently developed cryptocurrencies -- an idea China has also floated.</p>\n<h2>Now what</h2>\n<p>Add it all up, and the <i>Post </i>observes that a lot of cryptocurrency fans now fear that \"Yellen wants to annihilate the industry\" -- perhaps to make way for a national digital currency of the government's own making. Personally, I think that sounds a bit ambitious, and I'm not convinced the government could pull it off even if it wanted to. Still, when combined with previous comments from elsewhere in government -- specifically, Minneapolis Federal Reserve Bank president Neel Kashkari's accusation that non-governmental cryptocurrencies are \"95% fraud, hype, noise and confusion\" -- there's mounting evidence that momentum is building for some serious regulatory efforts to rein in cryptocurrency trading in the U.S.</p>\n<p>Until we get a better idea of what, specifically, the government plans to do, I'd buckle up for more volatility in the crypto market in the weeks ahead.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Dogecoin, Ethereum, and XRP Dropped Today</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\">\nWhy Dogecoin, Ethereum, and XRP Dropped Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-25 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/25/why-dogecoin-ethereum-and-xrp-dropped-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happened\nIt's Wednesday, and cryptocurrency prices are fading once more. As of 10:30 a.m. EDT, here's how prices look for several of the biggest names in cryptocurrency:\n\nIndustry bellwether ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/25/why-dogecoin-ethereum-and-xrp-dropped-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.fool.com/investing/2021/08/25/why-dogecoin-ethereum-and-xrp-dropped-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2162540270","content_text":"What happened\nIt's Wednesday, and cryptocurrency prices are fading once more. As of 10:30 a.m. EDT, here's how prices look for several of the biggest names in cryptocurrency:\n\nIndustry bellwether Bitcoin (CRYPTO:BTC) is down 0.8% over the last 24 hours, according to data from Coindesk.\nEthereum (CRYPTO:ETH) is off 2.5%.\nXRP (CRYPTO:XRP), the token closely associated with Ripple, has fallen 3%.\nAnd Dogecoin (CRYPTO:DOGE) is suffering most of all, declining 4.1%.\n\n\nImage source: Getty Images.\nSo what\nEarlier this month, new Securities and Exchange Commission chairman Gary Gensler sparked a minor freakout among cryptocurrency investors when he linked cryptocurrency trading with \"fraud\" in an interview with Bloomberg, and urged Congress to establish a \"robust oversight regime\" for the cryptocurrency market. Today, the woman Gensler replaced as head of the SEC -- now-Treasury Secretary Janet Yellen -- was quoted by The Washington Post echoing Gensler's concerns.\nCryptocurrency \"is often [used] for illicit finance,\" said Yellen, adding that \"it's an extremely inefficient way of conducting transactions,\" a \"highly speculative asset\" -- oh, and \"the amount of energy that's consumed in processing those transactions is staggering,\" to boot!\nTo put the icing on the cake, Yellen has also apparently advocated creating a \"central bank digital currency\" to compete with Bitcoin and other independently developed cryptocurrencies -- an idea China has also floated.\nNow what\nAdd it all up, and the Post observes that a lot of cryptocurrency fans now fear that \"Yellen wants to annihilate the industry\" -- perhaps to make way for a national digital currency of the government's own making. Personally, I think that sounds a bit ambitious, and I'm not convinced the government could pull it off even if it wanted to. Still, when combined with previous comments from elsewhere in government -- specifically, Minneapolis Federal Reserve Bank president Neel Kashkari's accusation that non-governmental cryptocurrencies are \"95% fraud, hype, noise and confusion\" -- there's mounting evidence that momentum is building for some serious regulatory efforts to rein in cryptocurrency trading in the U.S.\nUntil we get a better idea of what, specifically, the government plans to do, I'd buckle up for more volatility in the crypto market in the weeks ahead.","news_type":1},"isVote":1,"tweetType":1,"viewCount":167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835723233,"gmtCreate":1629756955122,"gmtModify":1676530119023,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835723233","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835720885,"gmtCreate":1629756796047,"gmtModify":1676530118984,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835720885","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835765980,"gmtCreate":1629756472340,"gmtModify":1676530118898,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835765980","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832533080,"gmtCreate":1629650504140,"gmtModify":1676530086091,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832533080","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832308027,"gmtCreate":1629586233869,"gmtModify":1676530072155,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832308027","repostId":"1107075259","repostType":4,"repost":{"id":"1107075259","pubTimestamp":1629509852,"share":"https://www.laohu8.com/m/news/1107075259?lang=&edition=full","pubTime":"2021-08-21 09:37","market":"us","language":"en","title":"Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla","url":"https://stock-news.laohu8.com/highlight/detail?id=1107075259","media":"MarketWatch","summary":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.$Investors$ should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.At $Tesla Motors$’s AI Day late Thursday, self-named Technoking Musk said th","content":"<blockquote>\n <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>\n</blockquote>\n<p><a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p>\n<p>At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p>\n<p>After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p>\n<p>As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p>\n<p>“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p>\n<p>The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p>\n<p><a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p>\n<p>“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p>\n<p>“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p>\n<p>The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p>\n<p>The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p>\n<p>“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p>\n<p>It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p>\n<p>If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p>\n<p>“We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p>\n<p>But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p>\n<p>For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p>\n<p>“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p>\n<p>With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p>\n<p>“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p>\n<p>Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p>","source":"market_watch","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>Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla</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\">\nIgnore Elon Musk’s dancing distraction and face the dangers ahead for Tesla\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-21 09:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology ...</p>\n\n<a href=\"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page\">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.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107075259","content_text":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.\n\nInvestors should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.\nAt Tesla Motors’s AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”\nAfter a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.\nAs always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.\n“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this Tesla Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.\nThe safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.\nJust a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.\n“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at American University in Washington DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”\n“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.\nThe week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The National Highway Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with Advanced Driver Assistance Systems (ADAS) and tractor-trailers.\nThe latest outcry on Capitol Hill follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.\n“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”\nIt is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”\nIf only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.\n“We basically have to solve real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over one million cars on the road that are collecting data… But I am highly confident that we will get this done.”\nBut for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.\nFor example, Alphabet Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.\n“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of American University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”\nWith FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.\n“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.\nMusk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.","news_type":1},"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831663364,"gmtCreate":1629322797358,"gmtModify":1676530000259,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/831663364","repostId":"1130907862","repostType":4,"repost":{"id":"1130907862","pubTimestamp":1629263879,"share":"https://www.laohu8.com/m/news/1130907862?lang=&edition=full","pubTime":"2021-08-18 13:17","market":"us","language":"en","title":"Nvidia: The Next 'Never Sell' Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=1130907862","media":"seekingalpha","summary":"NVIDIA reports earnings on Wednesday this week  as the stock is hovering around all-time highs.While the future certainly looks bright for the company, shares may be priced for perfection.That said, if any stock deserves a high multiple right now, it's NVIDIA!NVIDIA Corp.  reports earnings this week and the shares appear to be priced for perfection.NVIDIA certainly falls into that category. If any company deserves a high multiple today, it's certainly NVIDIA. The company has its hands  in three ","content":"<p><b>Summary</b></p>\n<ul>\n <li>NVIDIA reports earnings on Wednesday this week (8/18) as the stock is hovering around all-time highs.</li>\n <li>While the future certainly looks bright for the company, shares may be priced for perfection.</li>\n <li>That said, if any stock deserves a high multiple right now, it's NVIDIA!</li>\n <li>Is this the next \"never sell\" stock?</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38542d6cdbd9dec8054c33389caf105c\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"><span>Daniel Chetroni/iStock Editorial via Getty Images</span></p>\n<p><b>Introduction</b></p>\n<p>NVIDIA Corp. (NVDA) reports earnings this week and the shares appear to be priced for perfection.</p>\n<p>That said...there are certain stocks that you just don't sell!</p>\n<p>NVIDIA certainly falls into that category. If any company deserves a high multiple today, it's certainly NVIDIA. The company has its hands (and chips) in three of the biggest growth segments in technology: Gaming, cryptocurrency, and 5G (not to mention its importance in auto/self-driving!).</p>\n<p>In fact, it's a stock that you should probably ADD to your position on any meaningful pullback.</p>\n<p>Which makes it a great stock for a cash-secured put strategy. Get paid to set a downside limit order on a stock that you want to buy (or add to) on any dips!</p>\n<p><b>Valuation</b></p>\n<p>As we head into earnings this week, let's take a look at valuation.</p>\n<p>High-growth technology companies are always tough to value as they tend to trade at really high (current) multiples based on future growth projections.</p>\n<p><img src=\"https://static.tigerbbs.com/488bcf7cabe5578f2e798e2b21b60dc0\" tg-width=\"565\" tg-height=\"230\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Yes, 45.8x forward earnings is a healthy multiple, but if any company deserves a high multiple today, it's certainly NVIDIA (given the importance of its chips in the major growth areas in technology).</p>\n<p>NVIDIA's historical sales and EPS growth charts have always been a thing of beauty!</p>\n<p><img src=\"https://static.tigerbbs.com/961a45a675c7ac09b08b5b755c2d096c\" tg-width=\"640\" tg-height=\"247\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Although some sales were certainly pulled forward during the pandemic, the company is expected to earn $3.95 per share in fiscal 2022 (129% increase over 2021). However, NVDA expects earnings to grow even further in 2023 and 2024 to $4.36 per share (10% growth) and $5.04 per share (16% growth), respectively.<i>Note that NVDA's fiscal year-end is January.</i></p>\n<p>The company's balance sheet also is extremely strong with $12.7 billion of cash/short-term investments and management is producing a great return on invested capital of 23.6%.</p>\n<p><b>The \"N\" in FAANG?</b></p>\n<p>One could argue that NVIDIA should actually replace Netflix (NFLX) as the \"N\" in FAANG.</p>\n<p>NVIDIA is currently the 9th largest weighting in the S&amp;P 500 (SPY).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9991ce7ada74056e0662b198cf339154\" tg-width=\"640\" tg-height=\"267\" width=\"100%\" height=\"auto\"><span>Source: YCharts</span></p>\n<p>And the 8th largest weighting in the Nasdaq 100 (QQQ).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1f835b261cdbc64458bb82196e5134f8\" tg-width=\"640\" tg-height=\"265\" width=\"100%\" height=\"auto\"><span>Source: YCharts</span></p>\n<p>Could NVIDIA also be the next addition to the Dow Jones Industrial Average (replacing International Business Machines (IBM) at some point)??</p>\n<p>All the more reason to not sell any time soon...</p>\n<p><b>Buy The Dip! (Through Cash-Secured Puts)</b></p>\n<p>Cash-secured puts are a great way to add to your long-term position on a stock that you like.</p>\n<p>From a short-term perspective (especially as it's related to selling cash-secured puts), estimating a good \"strike zone\" is key to our analysis. Our strike zone takes into account (1) the stock's volatility, (2) recent performance (i.e., how much has it already pulled back from its recent highs), (3) near-term EPS risk, and (4) the overall volatility of the market (i.e., VIX level).</p>\n<p>As shown in the table below, our strike zone for NVIDIA currently is $149.00-$173.00, representing a required minimum margin of safety of 13.0%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e38091bf0ca8f52b16334659004eef4\" tg-width=\"640\" tg-height=\"283\" width=\"100%\" height=\"auto\"><span>(Source: Option income Advisor)</span></p>\n<p>NVIDIA has historically been a volatile stock (42% Implied Volatility), as highlighted by its low Volatility/Risk rating of 4. However, the stock is in a very strong uptrend (so its Pullback Indicator of 2 also has a negative effect on minimum required margin of safety, which is currently at 13.0%).</p>\n<p>NVDA also reports earnings this week, so that will need to be on our radar for the option analysis.</p>\n<p>As shown in the chart below, the stock is still in a very strong uptrend with its 50-day moving average (blue line) trading above its 200-day moving average (red line). We now have a few good levels of support to watch:</p>\n<ol>\n <li>50-day MA (~$193.00)</li>\n <li>Low from July 2021 (~$181.50)</li>\n <li>Breakout level from May 2021 (~$161.00)</li>\n <li>200-day MA (~$152.50)</li>\n</ol>\n<p><img src=\"https://static.tigerbbs.com/28eb9670c7016d91d063e8e7809de17d\" tg-width=\"640\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>There appears to be some decent technical support in our strike zone of $149.00-$173.00, which obviously makes us feel relatively good about selling a cash-secured put around the strike zone if we can.</p>\n<p><b>Cash-Secured Put Analysis (Premium Yield, Margin-of-Safety, Delta)</b></p>\n<p>We primarily trade an income strategy that we call the Triple Income Wheel, which starts with writing cash-secured puts on high-quality stocks that you would like to own at a lower price. We won't go into full detail here, but the diagram below is a good summary of the strategy.</p>\n<p><img src=\"https://static.tigerbbs.com/dfdd16ba25690201bcb1771ec8a557b9\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ideally, when we sell a cash-secured put and start the Triple Income Wheel process, our put is in our \"Strike Zone\" for that stock. In our opinion, that puts the odds of long-term success in our favor.</p>\n<p>The three main data points we look at when analyzing a cash-secured put trade are:</p>\n<ul>\n <li>Premium Yield% (or Average Monthly Yield%): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).<i>Assumes that the option is fully cash secured.</i></li>\n <li>Margin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.</li>\n <li>Delta: A good proxy for the probability that the put option will finish in-the-money.</li>\n</ul>\n<p><i>Note that there is always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.</i></p>\n<p><i>An investor should always be honest with themselves about their risk tolerance. The Triple Income Wheel can be adapted to suit your needs.</i></p>\n<p>Now let's look at the cash-secured put analysis for NVIDIA. We're focused on the August monthly contract that expires on 9/17/21.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f301b2bff52960855c087e8208548dbf\" tg-width=\"640\" tg-height=\"366\" width=\"100%\" height=\"auto\"><span>(Source: Option Income Advisor)</span></p>\n<p>We have highlighted three levels of trades based on various risk profiles: Aggressive (-A-), Base (-B-) and Conservative (-C-).<i>Please listen to the video above for further details.</i></p>\n<p>Ideally, we like to stick with our target levels for our Base portfolio:</p>\n<ul>\n <li>Average Monthly Yield % (AMY%): 1.0%-1.5%</li>\n <li>Strike price that is in the strike zone (i.e., margin of safety above the required minimum)</li>\n <li>Delta &lt; 30</li>\n</ul>\n<p>The NVDA Sept 17th $175.00 put option @ ~$1.81 meets all of our criteria with an AMY% of 1.0%, a Margin-of-Safety of 12.3%, and a Delta of 13.</p>\n<p><i>Again, based on your risk tolerance, you could choose a strike price that is more aggressive ($185.00 strike) or more conservative ($170.00 strike) than the base trade.</i></p>\n<p><b>Downside Considerations</b></p>\n<p>Assuming we sold the NVDA Sept 17th $175.00 strike put option @ $1.81, we would collect $181.00 of premium for each option contract sold. In return for this premium, we agree (and are obligated) to buy 100 shares of NVDA stock for each contract sold at the strike price of $175.00.</p>\n<p>If the stock stays above $175.00 between now and expiration (9/17/21), the option expires worthless and we keep the premium of $1.81.</p>\n<p>However,<i>the downside of this trade comes into play if the stock closes below $175.00 on expiration (9/17/21). Since we're obligated to buy the stock at $175.00, we would have a potential unrealized capital loss on our hands (depending on how low the stock closed on expiration)</i>. We do get to keep the premium either way though, so our breakeven cost basis would be $173.19 ($175.00 - $1.81).</p>\n<p>All that said, I think it's a win-win at this point if you can add to your NVDA position with a cost basis of $173.19.</p>\n<p><b>Conclusion</b></p>\n<p>Based on our long-term and short-term views on NVIDIA, we believe that a cash-secured put strategy makes a lot of sense right now for investors interested adding to their position (or starting a new position). The NVDA Sept 17th $175.00 put option would generate an average monthly yield of 1.0% (or 1.0% over the next 31 days) with a margin-of-safety of 12.3%.</p>\n<p>Assuming you could continue to roll this position every 45-60 days with similar risk/reward parameters, you could manufacture 12%-plus annualized income from NVIDIA over the next 12 months (while you patiently wait to add to your position).</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>Nvidia: The Next 'Never Sell' Stock?</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\">\nNvidia: The Next 'Never Sell' Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-18 13:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4450207-nvidia-the-next-never-sell-stock><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNVIDIA reports earnings on Wednesday this week (8/18) as the stock is hovering around all-time highs.\nWhile the future certainly looks bright for the company, shares may be priced for ...</p>\n\n<a href=\"https://seekingalpha.com/article/4450207-nvidia-the-next-never-sell-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4450207-nvidia-the-next-never-sell-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130907862","content_text":"Summary\n\nNVIDIA reports earnings on Wednesday this week (8/18) as the stock is hovering around all-time highs.\nWhile the future certainly looks bright for the company, shares may be priced for perfection.\nThat said, if any stock deserves a high multiple right now, it's NVIDIA!\nIs this the next \"never sell\" stock?\n\nDaniel Chetroni/iStock Editorial via Getty Images\nIntroduction\nNVIDIA Corp. (NVDA) reports earnings this week and the shares appear to be priced for perfection.\nThat said...there are certain stocks that you just don't sell!\nNVIDIA certainly falls into that category. If any company deserves a high multiple today, it's certainly NVIDIA. The company has its hands (and chips) in three of the biggest growth segments in technology: Gaming, cryptocurrency, and 5G (not to mention its importance in auto/self-driving!).\nIn fact, it's a stock that you should probably ADD to your position on any meaningful pullback.\nWhich makes it a great stock for a cash-secured put strategy. Get paid to set a downside limit order on a stock that you want to buy (or add to) on any dips!\nValuation\nAs we head into earnings this week, let's take a look at valuation.\nHigh-growth technology companies are always tough to value as they tend to trade at really high (current) multiples based on future growth projections.\n\nYes, 45.8x forward earnings is a healthy multiple, but if any company deserves a high multiple today, it's certainly NVIDIA (given the importance of its chips in the major growth areas in technology).\nNVIDIA's historical sales and EPS growth charts have always been a thing of beauty!\n\nAlthough some sales were certainly pulled forward during the pandemic, the company is expected to earn $3.95 per share in fiscal 2022 (129% increase over 2021). However, NVDA expects earnings to grow even further in 2023 and 2024 to $4.36 per share (10% growth) and $5.04 per share (16% growth), respectively.Note that NVDA's fiscal year-end is January.\nThe company's balance sheet also is extremely strong with $12.7 billion of cash/short-term investments and management is producing a great return on invested capital of 23.6%.\nThe \"N\" in FAANG?\nOne could argue that NVIDIA should actually replace Netflix (NFLX) as the \"N\" in FAANG.\nNVIDIA is currently the 9th largest weighting in the S&P 500 (SPY).\nSource: YCharts\nAnd the 8th largest weighting in the Nasdaq 100 (QQQ).\nSource: YCharts\nCould NVIDIA also be the next addition to the Dow Jones Industrial Average (replacing International Business Machines (IBM) at some point)??\nAll the more reason to not sell any time soon...\nBuy The Dip! (Through Cash-Secured Puts)\nCash-secured puts are a great way to add to your long-term position on a stock that you like.\nFrom a short-term perspective (especially as it's related to selling cash-secured puts), estimating a good \"strike zone\" is key to our analysis. Our strike zone takes into account (1) the stock's volatility, (2) recent performance (i.e., how much has it already pulled back from its recent highs), (3) near-term EPS risk, and (4) the overall volatility of the market (i.e., VIX level).\nAs shown in the table below, our strike zone for NVIDIA currently is $149.00-$173.00, representing a required minimum margin of safety of 13.0%.\n(Source: Option income Advisor)\nNVIDIA has historically been a volatile stock (42% Implied Volatility), as highlighted by its low Volatility/Risk rating of 4. However, the stock is in a very strong uptrend (so its Pullback Indicator of 2 also has a negative effect on minimum required margin of safety, which is currently at 13.0%).\nNVDA also reports earnings this week, so that will need to be on our radar for the option analysis.\nAs shown in the chart below, the stock is still in a very strong uptrend with its 50-day moving average (blue line) trading above its 200-day moving average (red line). We now have a few good levels of support to watch:\n\n50-day MA (~$193.00)\nLow from July 2021 (~$181.50)\nBreakout level from May 2021 (~$161.00)\n200-day MA (~$152.50)\n\n\nThere appears to be some decent technical support in our strike zone of $149.00-$173.00, which obviously makes us feel relatively good about selling a cash-secured put around the strike zone if we can.\nCash-Secured Put Analysis (Premium Yield, Margin-of-Safety, Delta)\nWe primarily trade an income strategy that we call the Triple Income Wheel, which starts with writing cash-secured puts on high-quality stocks that you would like to own at a lower price. We won't go into full detail here, but the diagram below is a good summary of the strategy.\n\nIdeally, when we sell a cash-secured put and start the Triple Income Wheel process, our put is in our \"Strike Zone\" for that stock. In our opinion, that puts the odds of long-term success in our favor.\nThe three main data points we look at when analyzing a cash-secured put trade are:\n\nPremium Yield% (or Average Monthly Yield%): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).Assumes that the option is fully cash secured.\nMargin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.\nDelta: A good proxy for the probability that the put option will finish in-the-money.\n\nNote that there is always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.\nAn investor should always be honest with themselves about their risk tolerance. The Triple Income Wheel can be adapted to suit your needs.\nNow let's look at the cash-secured put analysis for NVIDIA. We're focused on the August monthly contract that expires on 9/17/21.\n(Source: Option Income Advisor)\nWe have highlighted three levels of trades based on various risk profiles: Aggressive (-A-), Base (-B-) and Conservative (-C-).Please listen to the video above for further details.\nIdeally, we like to stick with our target levels for our Base portfolio:\n\nAverage Monthly Yield % (AMY%): 1.0%-1.5%\nStrike price that is in the strike zone (i.e., margin of safety above the required minimum)\nDelta < 30\n\nThe NVDA Sept 17th $175.00 put option @ ~$1.81 meets all of our criteria with an AMY% of 1.0%, a Margin-of-Safety of 12.3%, and a Delta of 13.\nAgain, based on your risk tolerance, you could choose a strike price that is more aggressive ($185.00 strike) or more conservative ($170.00 strike) than the base trade.\nDownside Considerations\nAssuming we sold the NVDA Sept 17th $175.00 strike put option @ $1.81, we would collect $181.00 of premium for each option contract sold. In return for this premium, we agree (and are obligated) to buy 100 shares of NVDA stock for each contract sold at the strike price of $175.00.\nIf the stock stays above $175.00 between now and expiration (9/17/21), the option expires worthless and we keep the premium of $1.81.\nHowever,the downside of this trade comes into play if the stock closes below $175.00 on expiration (9/17/21). Since we're obligated to buy the stock at $175.00, we would have a potential unrealized capital loss on our hands (depending on how low the stock closed on expiration). We do get to keep the premium either way though, so our breakeven cost basis would be $173.19 ($175.00 - $1.81).\nAll that said, I think it's a win-win at this point if you can add to your NVDA position with a cost basis of $173.19.\nConclusion\nBased on our long-term and short-term views on NVIDIA, we believe that a cash-secured put strategy makes a lot of sense right now for investors interested adding to their position (or starting a new position). The NVDA Sept 17th $175.00 put option would generate an average monthly yield of 1.0% (or 1.0% over the next 31 days) with a margin-of-safety of 12.3%.\nAssuming you could continue to roll this position every 45-60 days with similar risk/reward parameters, you could manufacture 12%-plus annualized income from NVIDIA over the next 12 months (while you patiently wait to add to your position).","news_type":1},"isVote":1,"tweetType":1,"viewCount":32,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":880899517,"gmtCreate":1631028751939,"gmtModify":1676530448289,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/880899517","repostId":"1130130857","repostType":4,"repost":{"id":"1130130857","pubTimestamp":1631007146,"share":"https://www.laohu8.com/m/news/1130130857?lang=&edition=full","pubTime":"2021-09-07 17:32","market":"us","language":"en","title":"Strategists Say the Stock Market Could Struggle This Fall. What to Buy Now?","url":"https://stock-news.laohu8.com/highlight/detail?id=1130130857","media":"Barron's","summary":"What a year this has been for the markets!Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and  a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnin","content":"<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&amp;P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.</p>\n<p>Tailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.</p>\n<p>In other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”</p>\n<p>That’s the general consensus among the six market strategists and chief investment officers whom<i>Barron’s</i>recently consulted. All see the S&amp;P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.</p>\n<p>Next year’s gains look muted, as well, relative to recent trends. The group expects the S&amp;P 500 to tack on another 6% in 2022, rising to about 4800.</p>\n<p><img src=\"https://static.tigerbbs.com/eb61c7b74b9b0f18a019afb4ac44ad59\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">With stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.</p>\n<p>The stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.</p>\n<p>Fed Chairman Jerome <a href=\"https://laohu8.com/S/POWL\">Powell</a> has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”</p>\n<p>The government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/c2cb76c498c1c4c980139e3d0514c261\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">The bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.</p>\n<p>A budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.</p>\n<p><img src=\"https://static.tigerbbs.com/6693da658db16059fc99e08a7531675f\" tg-width=\"300\" tg-height=\"645\" referrerpolicy=\"no-referrer\">Other politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a <a href=\"https://laohu8.com/S/WASH\">Washington</a> shutdown in October.</p>\n<p>For now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.</p>\n<p>Inflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.</p>\n<p>“We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”</p>\n<p>The strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for&nbsp;the bond market—and could be even more so for stocks.</p>\n<p>Rising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&amp;P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.</p>\n<p><img src=\"https://static.tigerbbs.com/e08d24cb421d7cc13debd76a9c6fea01\" tg-width=\"660\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p>\n<p>As long as 10-year Treasury yields stay in the 2% range, the S&amp;P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.</p>\n<p>If yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says&nbsp;<a href=\"https://laohu8.com/S/STT\">State</a> Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”</p>\n<p><img src=\"https://static.tigerbbs.com/93ff6490069ab5dc1b4057f1ff7966f3\" tg-width=\"664\" tg-height=\"441\" referrerpolicy=\"no-referrer\"></p>\n<p>Wilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says</p>\n<p>If 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”</p>\n<p>Some P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&amp;P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.</p>\n<p>A potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.</p>\n<p>An increase of that magnitude would shave about 5% off S&amp;P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-time event for the market, some strategists predict.</p>\n<p>These concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.</p>\n<blockquote>\n “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets\n</blockquote>\n<p>The State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.</p>\n<p>RBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.</p>\n<p>“Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”</p>\n<p>But the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.</p>\n<p>“The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”</p>\n<p><b>A Shopping List for Fall</b></p>\n<p>Most strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.</p>\n<p><img src=\"https://static.tigerbbs.com/a54c4bd114c1a5f7f700d1fc14d30d8e\" tg-width=\"970\" tg-height=\"230\" referrerpolicy=\"no-referrer\"></p>\n<p>Although stocks with quality attributes have outperformed the market this summer, according to a <a href=\"https://laohu8.com/S/BLK\">BlackRock</a> analysis, the quality factor has lagged since positive vaccine news was first reported last November.</p>\n<p>“We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”</p>\n<p>He recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.</p>\n<p>For <a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a>’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.</p>\n<p>“There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”</p>\n<p>Harvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),<a href=\"https://laohu8.com/S/BAC\">Bank of America</a>(BAC),<a href=\"https://laohu8.com/S/NTRSP\">Northern</a> Trust(NTRS),Lowe’s(LOW),<a href=\"https://laohu8.com/S/IQV\">IQVIA</a> Holdings(IQV), andMasco(MAS).</p>\n<p>Overall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.</p>\n<p>“We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.</p>\n<p>Cheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.</p>\n<p><a href=\"https://laohu8.com/S/HCSG\">Healthcare</a> stocks also have some fans. “<a href=\"https://laohu8.com/S/HR\">Healthcare</a> has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by <a href=\"https://laohu8.com/S/MS\">Morgan Stanley</a> analysts and fitting his macro views.</p>\n<p>Nuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.</p>\n<p>Malik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.</p>\n<p>Both stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of <a href=\"https://laohu8.com/S/ABBV\">AbbVie</a>’s most promising post-Humira products.</p>\n<p><a href=\"https://laohu8.com/S/PFE\">Pfizer</a>(PFE),<a href=\"https://laohu8.com/S/AXP\">American Express</a>(AXP),Johnson &amp; Johnson(JNJ), andCisco Systems(CSCO) are other S&amp;P 500 members that pass a<i>Barron’s</i>screen for quality attributes.</p>\n<p>After a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. <a href=\"https://laohu8.com/S/JE\">Just</a> be more selective. And go with quality.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Strategists Say the Stock Market Could Struggle This Fall. What to Buy 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\">\nStrategists Say the Stock Market Could Struggle This Fall. What to Buy Now?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 17:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&P 500stock index has...</p>\n\n<a href=\"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.barrons.com/articles/stocks-could-struggle-this-fall-market-strategists-say-stick-with-quality-companies-51630699840?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130130857","content_text":"What a year this has been for the markets! Fueled by a torrent of monetary and fiscal stimulus, economic and earnings growth, and (until recently) a mostly receding pandemic, theS&P 500stock index has rallied 20%, notching seven straight months of gains and more than 50 highs along the way. And that’s on top of last year’s 68% rebound from the market’s March 2020 lows.\nTailwinds remain in place, but headwinds now loom that could slow stocks’ advance. Stimulus spending has peaked, and economic and corporate-earnings growth are likely to decelerate through the end of the year. What’s more, theFederal Reserve has all but promised to start tapering its bond buyingin coming months, and the Biden administration has proposed hiking corporate and personal tax rates. None of this is apt to sit well with holders of increasingly pricey shares.\nIn other words,brace for a volatile fallin which conflicting forces buffet stocks, bonds, and investors. “The everything rally is behind us,” says Saira Malik, chief investment officer of global equities at Nuveen. “It’s not going to be a sharply rising economic tide that lifts all boats from here.”\nThat’s the general consensus among the six market strategists and chief investment officers whomBarron’srecently consulted. All see the S&P 500 ending the year near Thursday’s close of 4536. Their average target: 4585.\nNext year’s gains look muted, as well, relative to recent trends. The group expects the S&P 500 to tack on another 6% in 2022, rising to about 4800.\nWith stocks trading for about 21 times the coming year’s expected earnings,bonds yielding little, and cash yielding less than nothing after accounting for inflation, investors face tough asset-allocation decisions. In place of the “everything rally,” which lifted fast-growing tech stocks, no-growth meme stocks, and the Dogecoins of the digital world, our market watchers recommend focusing on “quality” investments. In equities, that means shares of businesses with solid balance sheets, expanding profit margins, and ample and recurring free cash flow. Even if the averages do little in coming months, these stocks are likely to shine.\nThe stock market’s massive rally in the past year was a gift of sorts from the Federal Reserve, which flooded the financial system with money to stave off theeconomic damage wrought by the Covid pandemic. Since March 2020, the U.S. central bank has been buying a combined $120 billion a month of U.S. Treasuries and mortgage-backed securities, while keeping its benchmark federal-funds rate target at 0% to 0.25%. These moves have depressed bond yields and pushed investors into riskier assets, including stocks.\nFed Chairman Jerome Powell has said that the central bank might begin to wind down, or taper, its emergency asset purchases sometime in the coming quarters, a move that could roil risk assets of all sorts. “For us, it’s very simple: Tapering is tightening,” says Mike Wilson, chief investment officer and chief U.S. equity strategist atMorgan Stanley.“It’s the first step away from maximum accommodation [by the Fed]. They’re being very calculated about it this time, but the bottom line is that it should have a negative effect on equity valuations.”\nThe government’s stimulus spending, too, has peaked, the strategists note. Supplemental federal unemployment benefits of $300 a week expire as of Sept. 6. Although Congress seems likely to pass a bipartisan infrastructure bill this fall, the near-term economic impact will pale in comparison to the multiple rounds of stimulus introduced since March 2020.\nThe bill includes about $550 billion in new spending—a fraction of the trillions authorized by previous laws—and it will be spread out over many years. The short-term boost that infrastructure stimulus will give to consumer spending, which accounts for almost 70% of U.S. growth domestic product, won’t come close to what the economy saw after millions of Americans received checks from the government this past year.\nA budget bill approved by Democrats only should follow the infrastructure bill, and include spending to support Medicare expansion, child-care funding, free community-college tuition, public housing, and climate-related measures, among other party priorities. Congress could vote to lift taxes on corporations and high-earning individuals to offset that spending—another near-term risk to the market.\nOther politically charged issues likewise could derail equities this fall. Congress needs to pass a debt-ceiling increase to fund the government, and a stop-gap spending bill later this month to avoid a Washington shutdown in October.\nFor now, our market experts are relatively sanguine about the economic impact of the Delta variant of Covid-19. As long as vaccines remain effective in minimizing severe infections that lead to hospitalizations and deaths, the negative effects of the current Covid wave will be limited largely to the travel industry and movie theaters, they say. Wall Street’s base case for the market doesn’t include a renewed wave of lockdowns that would undermine economic growth.\nInflation has been a hot topic at the Fed and among investors, partly because it has been running so hot of late. The U.S. consumer price index rose at an annualized 5.4% in both June and July—a spike the Fed calls transitory, although others aren’t so sure. The strategists are taking Powell’s side of the argument; they expect inflation to fall significantly next year. Their forecasts fall between 2.5% and 3.5%, which they consider manageable for consumers and companies, and an acceptable side effect of rapid economic growth. An inflation rate above 2.5%, however, combined with Fed tapering, would mean that now ultralow bond yields should rise.\n“We think inflation will continue to run hotter than it has since the financial crisis, but it’s hard for us to see inflation much over 2.5% once many of the reopening-related pressures start to dissipate,” says Michael Fredericks, head of income investing for theBlackRockMulti-Asset Strategies Group. “So bond yields do need to move up, but that will happen gradually.”\nThe strategists see the yield on the 10-year U.S. Treasury note climbing to around 1.65% by year end. That’s about 35 basis points—or hundredths of a percentage point—above current levels, but below the 1.75% that the yield reached at its March 2021 highs. By next year, the 10-year Treasury could yield 2%, the group says. Those aren’t big moves in absolute terms, but they’re meaningful for the bond market—and could be even more so for stocks.\nRising yields tend to weigh on stock valuations for two reasons. Higher-yielding bonds offer competition to stocks, and companies’ future earnings are worthless in the present when discounting them at a higher rate. Still, a 10-year yield around 2% won’t be enough to knock stock valuations down to pre-Covid levels. Even if yields climb, market strategists see the price/earnings multiple of the S&P 500 holding well above its 30-year average of 16 times forward earnings. The index’s forward P/E topped 23 last fall.\n\nAs long as 10-year Treasury yields stay in the 2% range, the S&P 500 should be able to command a forward P/E in the high teens, strategists say. A return to the 16-times long-term average isn’t in the cards until there is more pressure from much higher yields—or something else that causes stocks to fall.\nIf yields surge past 2% or 2.25%, investors could start to question equity valuations more seriously, says State Street’schief portfolio strategist, Gaurav Mallik: “We haven’t seen [the 10-year yield] above 2% for some time now, so that’s an important sentiment level for investors.”\n\nWilson is more concerned, noting that the stock market’s valuation risk is asymmetric: “It’s very unlikely that multiples are going to go up, and there’s a good chance that they go down more than 10% given the deceleration in growth and where we are in the cycle,” he says\nIf 16 to 23 times forward earnings is the range, he adds, “you’re already at the very high end of that. There’s more potential risk than reward.”\nSome P/E-multiple compression is baked into all six strategists’ forecasts, heaping greater importance on the path of profit growth. On average, the strategists expect S&P 500 earnings to jump 46% this year, to about $204, after last year’s earnings depression. That could be followed by a more normalized gain of 9% in 2022, to about $222.50.\nA potential headwind would be a higher federal corporate-tax rate in 2022. The details of Democrats’ spending and taxation plans will be worked out in the coming weeks, and investors can expect to hear a lot more about potential tax increases. Several strategists see a 25% federal rate on corporate profits as a likely compromise figure, above the 21% in place since 2018, but below the 28% sought by the Biden administration.\nAn increase of that magnitude would shave about 5% off S&P 500 earnings next year. The index could drop by a similar amount as the passage of the Democrats’ reconciliation bill nears this fall, but the impact should be limited to that initial correction. As with the tax cuts in December 2017, the change should be a one-time event for the market, some strategists predict.\nThese concerns aside, investors shouldn’t miss the bigger picture: The U.S. economy is in good shape and growing robustly. The strategists expect gross domestic product to rise 6.3% this year and about 4% in 2022. “The cyclical uplift and above-trend growth will continue at least through 2022, and we want to be biased toward assets that have that exposure,” says Mallik.\n\n “We’re going to have a hot economy this year and next. When GDP growth is above average, value beats growth and cyclicals beat defensives.”— Lori Calvasina, RBC Capital Markets\n\nThe State Street strategist recommends overweighting materials, financials, and technology in investment portfolios. That approach includes both economically sensitive companies, such as banks and miners, and steady growers in the tech sector.\nRBC Capital Markets’ head of U.S. equity strategy, Lori Calvasina, likewise takes a barbell approach, with both cyclical and growth exposure. Her preferred sectors are energy, financials, and technology.\n“Valuations are still a lot more attractive in financials and energy than growth [sectors such as technology or consumer discretionary,]” Calvasina says. “The catalyst in the near term is getting out of the current Covid wave... We’re going to have a hot economy this year and next, and traditionally when GDP growth is above average, value beats growth and cyclicals beat defensives.”\nBut the focus on quality will be pivotal, especially moving into the second half of 2022. That’s when the Fed is likely to hike interest rates for the first time in this cycle. By 2023, the economy could return to pre-Covid growth on the order of 2%.\n“The historical playbook is that coming out of a recession, you tend to see low-quality outperformance that lasts about a year, then leadership flips back to high quality,” Calvasina says. “But that transition from low quality back to high quality tends to be very bumpy.”\nA Shopping List for Fall\nMost strategists favor a combination of economically sensitive stocks and steady growers, including tech shares. Financials should do well, particularly if bond yields rise.\n\nAlthough stocks with quality attributes have outperformed the market this summer, according to a BlackRock analysis, the quality factor has lagged since positive vaccine news was first reported last November.\n“We’re moving into a mid-cycle environment, when underlying economic growth remains strong but momentum begins to decelerate,” BlackRock’s Fredericks says. “Our research shows that quality stocks perform particularly well in such a period.”\nHe recommends overweighting profitable technology companies; financials, including banks, and consumer staples and industrials with those quality characteristics.\nFor Wells Fargo’s head of equity strategy, Christopher Harvey, a mix of post-pandemic beneficiaries and defensive exposure is the way to go. He constructed a basket of stocks with lower-than-average volatility—which should outperform during periods of market uncertainty or stress this fall—and high “Covid beta,” or sensitivity to good or bad news about the pandemic. One requirement; The stocks had to be rated the equivalent of Buy by Wells Fargo’s equity analysts.\n“There’s near-term economic uncertainty, interest-rate uncertainty, and Covid risk, and generally we’re in a seasonally weaker part of the year around September,” says Harvey. “If we can balance low vol and high Covid beta, we can mitigate a lot of the upcoming uncertainty and volatility around timing of several of those catalysts. Longer-term, though, we still want to have that [reopening exposure.]”\nHarvey’s list of low-volatility stocks with high Covid beta includesApple(AAPL),Bank of America(BAC),Northern Trust(NTRS),Lowe’s(LOW),IQVIA Holdings(IQV), andMasco(MAS).\nOverall, banks are the most frequently recommended group for the months ahead. TheInvesco KBW Bankexchange-traded fund (KBWB) provides broad exposure to the sector in the U.S.\n“We like the valuations [and] credit quality; they are now allowed to buy back shares and increase dividends, and there’s higher Covid beta,” says Harvey.\nCheaper valuations mean less potential downside in a market correction. And, contrary to much of the rest of the stock market, higher interest rates would be a tailwind for the banks, which could then charge more for loans.\nHealthcare stocks also have some fans. “Healthcare has both defensive and growth attributes to it,” Wilson says. “You’re paying a lot less per unit of growth in healthcare today than you are in other sectors. So we think it provides good balance in this market when we’re worried about valuation.” Health insurerHumana(HUM) makes Wilson’s “Fresh Money Buy List” of stocks Buy-rated by Morgan Stanley analysts and fitting his macro views.\nNuveen’s Malik is also looking toward health care for relatively underpriced growth exposure, namely in the pharmaceuticals and biotechnology groups. She points toSeagen(SGEN), which is focused on oncology drugs and could be an attractive acquisition target for a pharma giant.\nMalik also likesAbbVie(ABBV) which trades at an undemanding eight times forward earnings and sports a 4.7% dividend yield. The coming expiration of patents on its blockbuster anti-inflammatory drug Humira has kept some investors away, but Malik is confident that management can limit the damage and sees promising drugs in development at the $200 billion company.\nBoth stocks have had a tough time in recent days. Seagen fell more than 8% last week, to around $152, on news that its co-founder and CEO sold a large number of shares recently. AndAbbVietanked 7% Wednesday, to $112.27, after the Food and Drug Administration required new warning labels for JAK inhibitors, a type of anti-rheumatoid drug that includes one of AbbVie’s most promising post-Humira products.\nPfizer(PFE),American Express(AXP),Johnson & Johnson(JNJ), andCisco Systems(CSCO) are other S&P 500 members that pass aBarron’sscreen for quality attributes.\nAfter a year of steady gains, investors might be reminded this fall that stocks can also decline, as growth momentum and policy support begin to fade. But underlying economic strength supports buying the dip, should the market drop from its highs. Just be more selective. And go with quality.","news_type":1},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816655861,"gmtCreate":1630499783853,"gmtModify":1676530320717,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/816655861","repostId":"2164892587","repostType":4,"repost":{"id":"2164892587","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":1630499641,"share":"https://www.laohu8.com/m/news/2164892587?lang=&edition=full","pubTime":"2021-09-01 20:34","market":"us","language":"en","title":"Conn's Stock Gains As Q2 Earnings Smashes Estimates","url":"https://stock-news.laohu8.com/highlight/detail?id=2164892587","media":"Benzinga","summary":"\n","content":"<ul>\n <li><b>Conn's Inc</b>&nbsp;(NASDAQ:CONN)&nbsp;reported second-quarter FY22 revenue growth of 14%&nbsp;year-on-year, to $418.38 million, beating the analyst consensus of $396.74 million.</li>\n <li>Q2 same-store sales increased 16.4% versus last year and increased 3.2% on a two-year basis.</li>\n <li>Total retail revenues rose 24.0% Y/Y to $347.0 million.</li>\n <li>Furniture and mattress sales rose 34.9% Y/Y, home appliance sales increased 25.8%, and consumer electronics gained 2.3%.</li>\n <li>E-commerce sales increased 210.9% Y/Y to $17.3 million, and Lease-to-own sales climbed 70.3% to $41.6 million.</li>\n <li>EPS of $1.22 beat the analyst consensus of $0.71.</li>\n <li>Operating expenses rose 12% Y/Y to $364 million.</li>\n <li>The operating margin was 13%, and operating income for the quarter rose 30.8% to $54.2 million.</li>\n <li>Conn's held $39.7 million in cash and equivalents as of July 31, 2021.</li>\n <li>Total debt of Conn's declined 41% Y/Y to $439.6 million.</li>\n <li>Net debt as a percentage of the portfolio balance decreased 13.9 percentage points Y/Y to 36.2%.</li>\n <li><b>Price Action:</b>&nbsp;CONN shares are trading higher by 10.12% at $27.09 in premarket on the last check Wednesday.</li>\n</ul>","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>Conn's Stock Gains As Q2 Earnings Smashes Estimates</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{ 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.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\">\nConn's Stock Gains As Q2 Earnings Smashes Estimates\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\">2021-09-01 20:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><b>Conn's Inc</b>&nbsp;(NASDAQ:CONN)&nbsp;reported second-quarter FY22 revenue growth of 14%&nbsp;year-on-year, to $418.38 million, beating the analyst consensus of $396.74 million.</li>\n <li>Q2 same-store sales increased 16.4% versus last year and increased 3.2% on a two-year basis.</li>\n <li>Total retail revenues rose 24.0% Y/Y to $347.0 million.</li>\n <li>Furniture and mattress sales rose 34.9% Y/Y, home appliance sales increased 25.8%, and consumer electronics gained 2.3%.</li>\n <li>E-commerce sales increased 210.9% Y/Y to $17.3 million, and Lease-to-own sales climbed 70.3% to $41.6 million.</li>\n <li>EPS of $1.22 beat the analyst consensus of $0.71.</li>\n <li>Operating expenses rose 12% Y/Y to $364 million.</li>\n <li>The operating margin was 13%, and operating income for the quarter rose 30.8% to $54.2 million.</li>\n <li>Conn's held $39.7 million in cash and equivalents as of July 31, 2021.</li>\n <li>Total debt of Conn's declined 41% Y/Y to $439.6 million.</li>\n <li>Net debt as a percentage of the portfolio balance decreased 13.9 percentage points Y/Y to 36.2%.</li>\n <li><b>Price Action:</b>&nbsp;CONN shares are trading higher by 10.12% at $27.09 in premarket on the last check Wednesday.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CONN":"科恩"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164892587","content_text":"Conn's Inc (NASDAQ:CONN) reported second-quarter FY22 revenue growth of 14% year-on-year, to $418.38 million, beating the analyst consensus of $396.74 million.\nQ2 same-store sales increased 16.4% versus last year and increased 3.2% on a two-year basis.\nTotal retail revenues rose 24.0% Y/Y to $347.0 million.\nFurniture and mattress sales rose 34.9% Y/Y, home appliance sales increased 25.8%, and consumer electronics gained 2.3%.\nE-commerce sales increased 210.9% Y/Y to $17.3 million, and Lease-to-own sales climbed 70.3% to $41.6 million.\nEPS of $1.22 beat the analyst consensus of $0.71.\nOperating expenses rose 12% Y/Y to $364 million.\nThe operating margin was 13%, and operating income for the quarter rose 30.8% to $54.2 million.\nConn's held $39.7 million in cash and equivalents as of July 31, 2021.\nTotal debt of Conn's declined 41% Y/Y to $439.6 million.\nNet debt as a percentage of the portfolio balance decreased 13.9 percentage points Y/Y to 36.2%.\nPrice Action: CONN shares are trading higher by 10.12% at $27.09 in premarket on the last check Wednesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":306,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863463799,"gmtCreate":1632412859811,"gmtModify":1676530777771,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/863463799","repostId":"1159478468","repostType":4,"isVote":1,"tweetType":1,"viewCount":677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885450860,"gmtCreate":1631826292350,"gmtModify":1676530644168,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Yq","listText":"Yq","text":"Yq","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/885450860","repostId":"2167651799","repostType":4,"isVote":1,"tweetType":1,"viewCount":294,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889832462,"gmtCreate":1631137303456,"gmtModify":1676530475196,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/889832462","repostId":"1154837170","repostType":4,"repost":{"id":"1154837170","pubTimestamp":1631090918,"share":"https://www.laohu8.com/m/news/1154837170?lang=&edition=full","pubTime":"2021-09-08 16:48","market":"us","language":"en","title":"Bitcoin Endured a Rocky Day. What's Behind the Selloff","url":"https://stock-news.laohu8.com/highlight/detail?id=1154837170","media":"Barron's","summary":"It should have been a happy day for Bitcoin, but it’s turned into a rout.Bitcoin  was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.Other cryptos were also ailing, including Ethereum , down 12% to $3,460.The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum ","content":"<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.</p>\n<p>Bitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.</p>\n<p>Other cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.</p>\n<p>The selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.</p>\n<p>The down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.</p>\n<p>Merchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.</p>\n<p>But El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.</p>\n<p>Crypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).</p>\n<p>“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.</p>\n<p>“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”</p>\n<p>Other factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.</p>\n<p>Even if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin Endured a Rocky Day. What's Behind the Selloff</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\">\nBitcoin Endured a Rocky Day. What's Behind the Selloff\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-08 16:48 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/bitcoin-crypto-prices-drop-today-51631048243?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154837170","content_text":"It should have been a happy day for Bitcoin, but it’s turned into a rout.\nBitcoin (ticker: BTC) was trading was around $47,000 on Tuesday afternoon, down 9% in the last 24 hours, after dipping down to $42,900 this morning. Bitcoin had been above $52,800 before the selloff.\nOther cryptos were also ailing, including Ethereum (ETH), down 12% to $3,460.\nThe selloff may reflect profit-taking after prices started rising in late July. Bitcoin had gained more than 50% since late July when it traded around $34,000. Ethereum has also been flying, following a technical upgrade in its underlying blockchain network.\nThe down day may also reflect a “sell the news” dynamic after El Salvador became the first country to adopt Bitcoin as legal tender, alongside the dollar– the country’s other official currency.\nMerchants in El Salvador are now supposed to accept Bitcoin for goods and services. Citizens have been promised $30 worth of Bitcoin in their digital wallets by the government. McDonald’s has started accepting Bitcoin in El Salvador, according to Reuters. And the government of president Nayib Bukele has been buying Bitcoin, including at least $20 million worth, ahead of the official launch.\nBut El Salvador’s crypto experiment isn’t sitting well with organizations like the International Monetary Fund and World Bank, which have warned El Salvador that its adoption as legal tender could imperil financial stability. Other countries are cracking down on crypto transactions, mining, and exchanges, indicating that El Salvador may be an outlier for now.\nCrypto watchers are also blaming technical factors for the market downturn. Assuming prices don’t suddenly surge, Bitcoin is now in for “outside-down” day, says Katie Stockton, founder and managing partner of Fairlead Strategies, a crypto-trading research firm. The means Bitcoin is trading in a wider range and headed for a lower close than yesterday (assuming a 5 p.m. cutoff, though it trades 24 hours).\n“The implications are for additional consolidation,” she says. So far, the selloff looks like a minor setback, she adds, since Bitcoin hasn’t breached its 50-day moving average around $44,000, which is its next support level.\n“A breach of $44,000 isn’t a breakdown,” she says. “It’s a test of the 50-day moving average. “There is strong support for Bitcoin and most crytpos pretty close to their current lows.”\nOther factors that may have contributed to the selloff include reports of outages and “unscheduled maintenance” at Bitfinix, a leading crypto exchange. Coinbase Global (ticker: COIN) also experienced a spike in outages around noon, according to Downdetector.\nEven if prices stabilize from here, it’s a reminder that Bitcoin and other cryptos remain vulnerable to rapid-fire declines. While you may be able to buy a Big Mac with a sliver of Bitcoin in San Salvador, you may be better off keeping it in your digital wallet–or not–depending on the time of day.","news_type":1},"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812551748,"gmtCreate":1630596168684,"gmtModify":1676530352993,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/812551748","repostId":"2164282258","repostType":4,"isVote":1,"tweetType":1,"viewCount":365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813116055,"gmtCreate":1630149238977,"gmtModify":1676530235043,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/813116055","repostId":"2162733980","repostType":4,"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869975660,"gmtCreate":1632239416550,"gmtModify":1676530733001,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/869975660","repostId":"1154232593","repostType":4,"repost":{"id":"1154232593","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":1632236324,"share":"https://www.laohu8.com/m/news/1154232593?lang=&edition=full","pubTime":"2021-09-21 22:58","market":"other","language":"en","title":"Dow erases a 343-point rebound and turns red","url":"https://stock-news.laohu8.com/highlight/detail?id=1154232593","media":"Tiger Newspress","summary":"(Sept 21) After yesterday afternoon's surge higher, futures markets overnight extended the momentum,","content":"<p>(Sept 21)&nbsp;After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).</p>\n<p>Since then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&amp;P, Dow, and Nasdaq into the red for the day...</p>\n<p><img src=\"https://static.tigerbbs.com/098e0b3b1c0255545ee40a5e5ac19c60\" tg-width=\"1232\" tg-height=\"578\" referrerpolicy=\"no-referrer\"></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>Dow erases a 343-point rebound and turns red</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\">\nDow erases a 343-point rebound and turns red\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\">2021-09-21 22:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 21)&nbsp;After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).</p>\n<p>Since then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&amp;P, Dow, and Nasdaq into the red for the day...</p>\n<p><img src=\"https://static.tigerbbs.com/098e0b3b1c0255545ee40a5e5ac19c60\" tg-width=\"1232\" tg-height=\"578\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154232593","content_text":"(Sept 21) After yesterday afternoon's surge higher, futures markets overnight extended the momentum, lifting US markets up over 1% at their peak around the European open (remember, much of Asian liquidity is on holiday still).\nSince then, things have gone downhill and the selling pressure since the US opened has sent Small Caps, S&P, Dow, and Nasdaq into the red for the day...","news_type":1},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818579696,"gmtCreate":1630422204415,"gmtModify":1676530300190,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/818579696","repostId":"1173998132","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835720885,"gmtCreate":1629756796047,"gmtModify":1676530118984,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835720885","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":74,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835765980,"gmtCreate":1629756472340,"gmtModify":1676530118898,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835765980","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":138,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":888806066,"gmtCreate":1631482479956,"gmtModify":1676530552396,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/888806066","repostId":"1189654544","repostType":4,"repost":{"id":"1189654544","pubTimestamp":1631406130,"share":"https://www.laohu8.com/m/news/1189654544?lang=&edition=full","pubTime":"2021-09-12 08:22","market":"us","language":"en","title":"US IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1189654544","media":"Renaissance Capital","summary":"After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion i","content":"<p>After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.</p>\n<p>Tech consultancy&nbsp;<b>Thoughtworks</b>(TWKS) plans to raise $700 million at a $6.3 billion market cap. This agile software developer provides premium, end-to-end digital strategy, design, and engineering services to more than 300 enterprise customers. The company grew revenue at a 14% CAGR from 2017 to 2020, and expanded margins in 2020 and the 1H21.</p>\n<p>Swiss running shoe brand&nbsp;<b>On Holding</b>(ONON) plans to raise $591 million at a $5.9 billion market cap. On is a global provider of premium athletic footwear, apparel, and accessories that are designed using sustainable materials and its proprietary technology. The company has demonstrated growth and profitability, though it faces significant competition from other well-known sportswear brands.</p>\n<p>After ending talks to go public via SPAC,<b>Sportradar Group</b>(SRAD) plans to raise $504 million at a $7.9 billion market cap. Covering over 750,000 events annually across 83 sports, this Swiss company provides software, data, and content to sports leagues, betting operators, and media companies. Sportradar is profitable, and growth accelerated in the 1H21 as live sports resumed.</p>\n<p>Drive-thru coffee chain&nbsp;<b>Dutch Bros</b>(BROS) plans to raise $400 million at a $3.3 billion market cap. This Oregon-based company has a chain of 471 drive-thru coffee shops in the Western US, and it has been able to maintain a track record of same-store sales growth as it has expanded to new states. Insiders received pre-IPO dividends and will sell shares back to the company.</p>\n<p>Healthcare intelligence platform&nbsp;<b>Definitive Healthcare</b>(DH) plans to raise $350 million at a $3.3 billion market cap. This company provides a healthcare commercial intelligence and analytics platform, helping its customers to analyze, navigate, and sell into the complex healthcare ecosystem. Unprofitable with strong growth, Definitive Healthcare will be leveraged post-IPO.</p>\n<p>Identity management platform&nbsp;<b>ForgeRock</b>(FORG) plans to raise $248 million at a $2.1 billion market cap. The company provides identity and access management software, with a platform to provision, authenticate, and govern all types of digital identities. Unprofitable with high sales and marketing expenses, ForgeRock is a leading next-gen provider in the multi-billion-dollar identity and access market.</p>\n<p>Immunology biotech&nbsp;<b>DICE Therapeutics</b>(DICE) plans to raise $160 million at a $550 million market cap. This biotech is developing oral small molecule therapies to treat chronic diseases in immunology and other therapeutic areas. DICE plans to initiate a Phase 1 trial of its lead candidate S011806, an oral antagonist with a variety of immunology indications.</p>\n<p>Surgical robotics developer&nbsp;<b>PROCEPT BioRobotics</b>(PRCT) plans to raise $127 million at a $1.1 billion market cap. This commercial-stage company develops surgical robotic systems for minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia. PROCEPT BioRobotics is highly unprofitable and saw revenue increase more than sixfold in the 1H21.</p>\n<p>Oncology biotech&nbsp;<b>Tyra Biosciences</b>(TYRA) plans to raise $101 million at a $584 million market cap. This preclinical biotech is developing FGFR kinase inhibitors for cancer, specifically solid tumors. Tyra’s lead candidate is initially focused on bladder cancer, and the company expects to submit an IND for it in mid-2022.</p>\n<p>Micro-cap gas delivery service&nbsp;<b>EzFill Holdings</b>(EZFL) plans to raise $25 million at a $104 million market cap. This mobile-fueling company provides an on-demand fuel delivery service in Florida via mobile app. Highly unprofitable with explosive growth, EzFill states that it is the dominant player in the South Florida market.</p>\n<p><img src=\"https://static.tigerbbs.com/718698ff98644c4026f32efe91d076c6\" tg-width=\"1128\" tg-height=\"684\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/97fe13300d9e4cf61effc59b9706776a\" tg-width=\"1129\" tg-height=\"247\" referrerpolicy=\"no-referrer\"></p>\n<p><b>IPO Market Snapshot</b></p>\n<p>The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/9/21, the Renaissance IPO Index was up 7.7% year-to-date, while the S&amp;P 500 was up 19.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 11.0% year-to-date, while the ACWX was up 10.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.</p>","source":"lsy1603787993745","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: The Fall IPO market kicks off with a 10 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; 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\">\nUS IPO Week Ahead: The Fall IPO market kicks off with a 10 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-12 08:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week><strong>Renaissance Capital</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.\nTech consultancy Thoughtworks(TWKS) plans to raise $700 million at a $6.3 billion ...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DH":"Definitive Healthcare Corp.","DICE":"DICE Therapeutics, Inc.",".DJI":"道琼斯","TYRA":"Tyra Biosciences, Inc.","BROS":"Dutch Bros Inc.","PRCT":"PROCEPT BioRobotics",".IXIC":"NASDAQ Composite","SRAD":"Sportradar Group AG","EZFL":"EzFill Holdings Inc","FORG":"ForgeRock, Inc.",".SPX":"S&P 500 Index","ONON":"On Holding AG","TWKS":"Thoughtworks Holding Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/85972/US-IPO-Week-Ahead-The-Fall-IPO-market-kicks-off-with-a-10-IPO-week","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189654544","content_text":"After a wave of launches in the short holiday week, 10 IPOs are scheduled to raise over $3 billion in the week ahead.\nTech consultancy Thoughtworks(TWKS) plans to raise $700 million at a $6.3 billion market cap. This agile software developer provides premium, end-to-end digital strategy, design, and engineering services to more than 300 enterprise customers. The company grew revenue at a 14% CAGR from 2017 to 2020, and expanded margins in 2020 and the 1H21.\nSwiss running shoe brand On Holding(ONON) plans to raise $591 million at a $5.9 billion market cap. On is a global provider of premium athletic footwear, apparel, and accessories that are designed using sustainable materials and its proprietary technology. The company has demonstrated growth and profitability, though it faces significant competition from other well-known sportswear brands.\nAfter ending talks to go public via SPAC,Sportradar Group(SRAD) plans to raise $504 million at a $7.9 billion market cap. Covering over 750,000 events annually across 83 sports, this Swiss company provides software, data, and content to sports leagues, betting operators, and media companies. Sportradar is profitable, and growth accelerated in the 1H21 as live sports resumed.\nDrive-thru coffee chain Dutch Bros(BROS) plans to raise $400 million at a $3.3 billion market cap. This Oregon-based company has a chain of 471 drive-thru coffee shops in the Western US, and it has been able to maintain a track record of same-store sales growth as it has expanded to new states. Insiders received pre-IPO dividends and will sell shares back to the company.\nHealthcare intelligence platform Definitive Healthcare(DH) plans to raise $350 million at a $3.3 billion market cap. This company provides a healthcare commercial intelligence and analytics platform, helping its customers to analyze, navigate, and sell into the complex healthcare ecosystem. Unprofitable with strong growth, Definitive Healthcare will be leveraged post-IPO.\nIdentity management platform ForgeRock(FORG) plans to raise $248 million at a $2.1 billion market cap. The company provides identity and access management software, with a platform to provision, authenticate, and govern all types of digital identities. Unprofitable with high sales and marketing expenses, ForgeRock is a leading next-gen provider in the multi-billion-dollar identity and access market.\nImmunology biotech DICE Therapeutics(DICE) plans to raise $160 million at a $550 million market cap. This biotech is developing oral small molecule therapies to treat chronic diseases in immunology and other therapeutic areas. DICE plans to initiate a Phase 1 trial of its lead candidate S011806, an oral antagonist with a variety of immunology indications.\nSurgical robotics developer PROCEPT BioRobotics(PRCT) plans to raise $127 million at a $1.1 billion market cap. This commercial-stage company develops surgical robotic systems for minimally-invasive urologic surgery with an initial focus on treating benign prostatic hyperplasia. PROCEPT BioRobotics is highly unprofitable and saw revenue increase more than sixfold in the 1H21.\nOncology biotech Tyra Biosciences(TYRA) plans to raise $101 million at a $584 million market cap. This preclinical biotech is developing FGFR kinase inhibitors for cancer, specifically solid tumors. Tyra’s lead candidate is initially focused on bladder cancer, and the company expects to submit an IND for it in mid-2022.\nMicro-cap gas delivery service EzFill Holdings(EZFL) plans to raise $25 million at a $104 million market cap. This mobile-fueling company provides an on-demand fuel delivery service in Florida via mobile app. Highly unprofitable with explosive growth, EzFill states that it is the dominant player in the South Florida market.\n\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 9/9/21, the Renaissance IPO Index was up 7.7% year-to-date, while the S&P 500 was up 19.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Snowflake (SNOW) and Palantir Technologies (PLTR). The Renaissance International IPO Index was down 11.0% year-to-date, while the ACWX was up 10.0%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Smoore International and EQT Partners.","news_type":1},"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835723233,"gmtCreate":1629756955122,"gmtModify":1676530119023,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835723233","repostId":"2161747692","repostType":4,"isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":883785495,"gmtCreate":1631273793517,"gmtModify":1676530515537,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/883785495","repostId":"2166897344","repostType":4,"repost":{"id":"2166897344","pubTimestamp":1631267820,"share":"https://www.laohu8.com/m/news/2166897344?lang=&edition=full","pubTime":"2021-09-10 17:57","market":"us","language":"en","title":"Morgan Stanley warns of a 15% plunge before year-end — protect yourself this way","url":"https://stock-news.laohu8.com/highlight/detail?id=2166897344","media":"MoneyWise","summary":"COVID cases are surging while consumer confidence is plummeting. And the Fed is doing its best to co","content":"<p><img src=\"https://static.tigerbbs.com/05188f33c88e8c7e9f73043b9dc5817f\" tg-width=\"1800\" tg-height=\"800\" referrerpolicy=\"no-referrer\"></p>\n<p>COVID cases are surging while consumer confidence is plummeting. And the Fed is doing its best to cool the effects of inflation.</p>\n<p>All of that makes Lisa Shalett, <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>’s chief investment officer of the firm’s wealth management division, nervous.</p>\n<p>In a recent call with investors, Shalett reiterated her confidence that the market is due for a major correction — between 10% and 15% — before the end of the year.</p>\n<p>Within that context, Shalett advised investors to rebalance their portfolios to favor financials, consumer staples, consumer services and health care — particularly companies that can provide a steady stream of income.</p>\n<p>Let's take a quick look at a few possible plays from those sectors.</p>\n<p>From banks to Band-Aid and snacks to shopping, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of them could be your next big wealth-building investment.</p>\n<p><b>1. Financials: Bank of America (BAC)</b></p>\n<p><img src=\"https://static.tigerbbs.com/032aef172ff1a824f14a619cd5ca0cb2\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">Tero Vesalainen/Shutterstock</p>\n<p>Over the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets.</p>\n<p>As the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.</p>\n<p>And despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.8%.</p>\n<p>Blue-chip investors might want to grab that yield using a free investing app.</p>\n<p><b>2. Consumer Staples: PepsiCo (PEP)</b></p>\n<p><img src=\"https://static.tigerbbs.com/2a19bb803c2e0377dac8ac7f1e643300\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">OlegDoroshin/Shutterstock</p>\n<p>Pepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.</p>\n<p>But this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.</p>\n<p>With everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.</p>\n<p>And the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7%.</p>\n<p>Pepsico shares offer a dividend yield of 2.7%.</p>\n<p><b>3. Consumer Services: Target (TGT)</b></p>\n<p><img src=\"https://static.tigerbbs.com/b33b6d3f479a0df177315ed36fcef1a9\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">Sundry Photography/Shutterstock</p>\n<p>While many brick and mortar retailers suffered through long lockdowns, Target’s profits have soared over the last year and a half. So much so that it’s even been beating sales of pre-pandemic years.</p>\n<p>Part of that can be attributed to the company's investment in its contactless delivery and pick-up in-store capabilities — with many orders now available for same-day fulfillment.</p>\n<p>Another factor in Target’s success is its convenience: with everything from cleaning supplies to clothing and from food to furniture, Target’s one-stop shop is appealing — especially for consumers still thinking about limiting their exposure as the country grapples with the delta variant.</p>\n<p>Even after a record year of 24.3% growth in comparable sales last year, in Q2, Target reported 8.9% growth. Its dividend of 90 cents per share reflects that growth — as it’s a significant jump from 68 cents the previous quarter.</p>\n<p>At the moment, Target shares sport a dividend yield of 1.5%.</p>\n<p><b>4. Health care: Johnson &amp; Johnson (JNJ)</b></p>\n<p><img src=\"https://static.tigerbbs.com/1909792026d0bbf736abf64e37b61e5c\" tg-width=\"1200\" tg-height=\"500\" referrerpolicy=\"no-referrer\">Siraj Ahmad/Shutterstock</p>\n<p>Between its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson &amp; Johnson has become a household name.</p>\n<p>And more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean &amp; Clear could stand on their own as successful brands.</p>\n<p>JNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.</p>\n<p>The company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.</p>\n<p>JNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.</p>\n<p>The stock currently has a dividend yield of 2.5%.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Morgan Stanley warns of a 15% plunge before year-end — protect yourself this way</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\">\nMorgan Stanley warns of a 15% plunge before year-end — protect yourself this way\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-10 17:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/morgan-stanley-warns-15-plunge-182700213.html><strong>MoneyWise</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>COVID cases are surging while consumer confidence is plummeting. And the Fed is doing its best to cool the effects of inflation.\nAll of that makes Lisa Shalett, Morgan Stanley’s chief investment ...</p>\n\n<a href=\"https://finance.yahoo.com/news/morgan-stanley-warns-15-plunge-182700213.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行","JNJ":"强生","TGT":"塔吉特","MS":"摩根士丹利","PEP":"百事可乐"},"source_url":"https://finance.yahoo.com/news/morgan-stanley-warns-15-plunge-182700213.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2166897344","content_text":"COVID cases are surging while consumer confidence is plummeting. And the Fed is doing its best to cool the effects of inflation.\nAll of that makes Lisa Shalett, Morgan Stanley’s chief investment officer of the firm’s wealth management division, nervous.\nIn a recent call with investors, Shalett reiterated her confidence that the market is due for a major correction — between 10% and 15% — before the end of the year.\nWithin that context, Shalett advised investors to rebalance their portfolios to favor financials, consumer staples, consumer services and health care — particularly companies that can provide a steady stream of income.\nLet's take a quick look at a few possible plays from those sectors.\nFrom banks to Band-Aid and snacks to shopping, one of them could be your next big wealth-building investment.\n1. Financials: Bank of America (BAC)\nTero Vesalainen/Shutterstock\nOver the last decade, Bank of America has streamlined and refined its business practices and operations to rise from one of the lowest rated banks in the country to the second-largest bank by assets.\nAs the economy continues to recover from the pandemic and inflation continues to surge, interest rates are likely to rise, putting the bank is in a good position to continue its success. Banks benefit from higher rates through a wider \"spread\" — the difference in interest that they pay to customers and what they earn by investing.\nAnd despite not quite hitting its earning mark last quarter, Bank of America delivered shareholders a dividend hike — upping its yield 17% from 18 cents to 21 cents per share. Currently, the shares offer a dividend yield of 1.8%.\nBlue-chip investors might want to grab that yield using a free investing app.\n2. Consumer Staples: PepsiCo (PEP)\nOlegDoroshin/Shutterstock\nPepsico is so much more than a major cola and soda brand. Most consumers will be aware that Mountain Dew and Gatorade fall under the Pepsico umbrella.\nBut this food and beverage juggernaut also owns Frito-Lay, Quaker Foods, Tropicana, SodaStream and dozens of other brands across the world.\nWith everyone spending so much time at home, snack food consumption went way up during the pandemic — which was great news for Pepsi. In July, the company reported that net sales rose more than 20% year over year to $19.22 billion — nicely above expectations of $18 billion.\nAnd the company is passing on some of those sweet (or salty, depending on your taste) dollars to shareholders through healthy dividends, which have been steadily increasing over the years. Over the past ten years, Pepsico's dividend has grown at a compounded rate of 7.7%.\nPepsico shares offer a dividend yield of 2.7%.\n3. Consumer Services: Target (TGT)\nSundry Photography/Shutterstock\nWhile many brick and mortar retailers suffered through long lockdowns, Target’s profits have soared over the last year and a half. So much so that it’s even been beating sales of pre-pandemic years.\nPart of that can be attributed to the company's investment in its contactless delivery and pick-up in-store capabilities — with many orders now available for same-day fulfillment.\nAnother factor in Target’s success is its convenience: with everything from cleaning supplies to clothing and from food to furniture, Target’s one-stop shop is appealing — especially for consumers still thinking about limiting their exposure as the country grapples with the delta variant.\nEven after a record year of 24.3% growth in comparable sales last year, in Q2, Target reported 8.9% growth. Its dividend of 90 cents per share reflects that growth — as it’s a significant jump from 68 cents the previous quarter.\nAt the moment, Target shares sport a dividend yield of 1.5%.\n4. Health care: Johnson & Johnson (JNJ)\nSiraj Ahmad/Shutterstock\nBetween its business in medical devices, pharmaceuticals and consumer packaged goods, Johnson & Johnson has become a household name.\nAnd more than that, its numerous subsidiaries including Band-Aid, Tylenol, Neutrogena, Listerine and Clean & Clear could stand on their own as successful brands.\nJNJ’s diverse holdings in the health care segment ensures it’s able to ride out any economic slumps. And with a handful of industry-leading drugs for immunology and cancer treatment under its Janssen Pharamceutica arm, there’s a good deal of growth opportunity for JNJ.\nThe company’s Q2 results were buoyed by $12.59 billion in revenue from its COVID-19 shot over the year — with global sales of $164 million in the second quarter alone.\nJNJ shared its success with shareholders through a dividend of $1.06 in the third quarter, up from $1.01 six months before.\nThe stock currently has a dividend yield of 2.5%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":346,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810449787,"gmtCreate":1629996566249,"gmtModify":1676530196994,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810449787","repostId":"1126443939","repostType":4,"repost":{"id":"1126443939","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":1629968418,"share":"https://www.laohu8.com/m/news/1126443939?lang=&edition=full","pubTime":"2021-08-26 17:00","market":"us","language":"en","title":"JOYY's top shareholders plan take-private deal, value firm at up to $8 bln -sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1126443939","media":"Reuters","summary":"HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi found","content":"<p>HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion, three people with knowledge of the matter said.</p>\n<p>JOYY Inc&nbsp;shares&nbsp;surged&nbsp;16%&nbsp;in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3a8b34e3c296954b441ee34ac8a63d1b\" tg-width=\"893\" tg-height=\"640\" width=\"100%\" height=\"auto\"></p>\n<p>They are teaming up for the deal as they believe the Chinese social media company is undervalued in the U.S. market, the people added. JOYY had an average market value of $3.9 billion over the past month, while its net asset value totalled $5.6 billion as of June 30, based on its quarterly results.</p>\n<p>Li and Lei are looking to offer $75-$100 per share to take the cash-rich JOYY private, two of the people said, a premium of 50-100% to the share’s average price over the past month.</p>\n<p>The sources all spoke on condition of anonymity as the information was private.</p>\n<p>Li and Lei did not immediately respond to requests for comment via JOYY and Xiaomi, respectively. Neither did JOYY.</p>\n<p>Li and Lei owned 23.2% and 7.8% of JOYY, respectively, the company’s 2020 annual report shows. Li had 76% voting power.</p>\n<p>If completed, the deal will add to a growing number of New York-listed Chinese firms that have already opted out of U.S. bourses by going private or returning to equity markets closer to home via second listings.</p>\n<p>These moves come amid heightened scrutiny and stricter audit requirements https://www.reuters.com/business/finance/exclusive-sec-gives-chinese-companies-new-requirements-us-ipo-disclosures-2021-08-23 for U.S.-listed Chinese companies from American regulators amid political tensions between the countries.</p>\n<p>Reuters reported last month that Weibo Chairman Charles Chao and a state investor were in talks to take Weibo private https://www.reuters.com/article/weibo-privitisation-idCNL2N2OI0WL in a deal that could value the Nasdaq-listed Chinese equivalent of Twitter at $20 billion-plus.</p>\n<p>There were 16 announced take-private deals of U.S.-listed Chinese companies worth $19 billion last year, Dealogic data shows, versus just five such deals worth $8 billion in 2019.</p>\n<p><b>FINANCE AND REGULATORY NOD</b></p>\n<p>The Li-Lei consortium is in talks with banks to finance the deal and seeks to secure a loan by using JOYY’s $4.9 billion cash and cash equivalents as collateral, two of the sources said, adding it aims to finalize the deal by the end of 2021.</p>\n<p>The plan is to then spin off JOYY’s key asset, Singapore-based Bigo – which runs a live streaming platform Bigo Live and short video business Likee, and list it in Asia, likely in Hong Kong, to take advantage of higher valuations, one source added.</p>\n<p>Founded in 2005, JOYY went public on the Nasdaq in 2012. It also runs game-focused social media platform Hago and owns a 16% stake in Chinese videogame streaming site Huya.</p>\n<p>JOYY said in November that it would sell its video-based entertainment live streaming business in China to search engine giant Baidu Inc for about $3.6 billion in cash.</p>\n<p>The sale is waiting to be green lit by the antitrust watchdog State Administration for Market Regulation (SAMR) to reach a final close in the coming weeks, the sources said.</p>\n<p>The SAMR nod would also allow JOYY to receive the remaining proceeds of about $1.6 billion from Baidu, they added.</p>\n<p>The SAMR did not immediately respond to a Reuters’ request for comment.</p>\n<p>JOYY shares have plunged 53% in the past six months while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the exchange, has dropped 41%.</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>JOYY's top shareholders plan take-private deal, value firm at up to $8 bln -sources</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\">\nJOYY's top shareholders plan take-private deal, value firm at up to $8 bln -sources\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\">2021-08-26 17:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion, three people with knowledge of the matter said.</p>\n<p>JOYY Inc&nbsp;shares&nbsp;surged&nbsp;16%&nbsp;in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3a8b34e3c296954b441ee34ac8a63d1b\" tg-width=\"893\" tg-height=\"640\" width=\"100%\" height=\"auto\"></p>\n<p>They are teaming up for the deal as they believe the Chinese social media company is undervalued in the U.S. market, the people added. JOYY had an average market value of $3.9 billion over the past month, while its net asset value totalled $5.6 billion as of June 30, based on its quarterly results.</p>\n<p>Li and Lei are looking to offer $75-$100 per share to take the cash-rich JOYY private, two of the people said, a premium of 50-100% to the share’s average price over the past month.</p>\n<p>The sources all spoke on condition of anonymity as the information was private.</p>\n<p>Li and Lei did not immediately respond to requests for comment via JOYY and Xiaomi, respectively. Neither did JOYY.</p>\n<p>Li and Lei owned 23.2% and 7.8% of JOYY, respectively, the company’s 2020 annual report shows. Li had 76% voting power.</p>\n<p>If completed, the deal will add to a growing number of New York-listed Chinese firms that have already opted out of U.S. bourses by going private or returning to equity markets closer to home via second listings.</p>\n<p>These moves come amid heightened scrutiny and stricter audit requirements https://www.reuters.com/business/finance/exclusive-sec-gives-chinese-companies-new-requirements-us-ipo-disclosures-2021-08-23 for U.S.-listed Chinese companies from American regulators amid political tensions between the countries.</p>\n<p>Reuters reported last month that Weibo Chairman Charles Chao and a state investor were in talks to take Weibo private https://www.reuters.com/article/weibo-privitisation-idCNL2N2OI0WL in a deal that could value the Nasdaq-listed Chinese equivalent of Twitter at $20 billion-plus.</p>\n<p>There were 16 announced take-private deals of U.S.-listed Chinese companies worth $19 billion last year, Dealogic data shows, versus just five such deals worth $8 billion in 2019.</p>\n<p><b>FINANCE AND REGULATORY NOD</b></p>\n<p>The Li-Lei consortium is in talks with banks to finance the deal and seeks to secure a loan by using JOYY’s $4.9 billion cash and cash equivalents as collateral, two of the sources said, adding it aims to finalize the deal by the end of 2021.</p>\n<p>The plan is to then spin off JOYY’s key asset, Singapore-based Bigo – which runs a live streaming platform Bigo Live and short video business Likee, and list it in Asia, likely in Hong Kong, to take advantage of higher valuations, one source added.</p>\n<p>Founded in 2005, JOYY went public on the Nasdaq in 2012. It also runs game-focused social media platform Hago and owns a 16% stake in Chinese videogame streaming site Huya.</p>\n<p>JOYY said in November that it would sell its video-based entertainment live streaming business in China to search engine giant Baidu Inc for about $3.6 billion in cash.</p>\n<p>The sale is waiting to be green lit by the antitrust watchdog State Administration for Market Regulation (SAMR) to reach a final close in the coming weeks, the sources said.</p>\n<p>The SAMR nod would also allow JOYY to receive the remaining proceeds of about $1.6 billion from Baidu, they added.</p>\n<p>The SAMR did not immediately respond to a Reuters’ request for comment.</p>\n<p>JOYY shares have plunged 53% in the past six months while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the exchange, has dropped 41%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YY":"欢聚集团","01810":"小米集团-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126443939","content_text":"HONG KONG, Aug 26 (Reuters) -JOYY Inc’s top two shareholders, its Chairman David Li and Xiaomi founder Lei Jun, plan to take the Nasdaq-listed company private in a deal that could value it at up to $8 billion, three people with knowledge of the matter said.\nJOYY Inc shares surged 16% in premarket trading.\n\nThey are teaming up for the deal as they believe the Chinese social media company is undervalued in the U.S. market, the people added. JOYY had an average market value of $3.9 billion over the past month, while its net asset value totalled $5.6 billion as of June 30, based on its quarterly results.\nLi and Lei are looking to offer $75-$100 per share to take the cash-rich JOYY private, two of the people said, a premium of 50-100% to the share’s average price over the past month.\nThe sources all spoke on condition of anonymity as the information was private.\nLi and Lei did not immediately respond to requests for comment via JOYY and Xiaomi, respectively. Neither did JOYY.\nLi and Lei owned 23.2% and 7.8% of JOYY, respectively, the company’s 2020 annual report shows. Li had 76% voting power.\nIf completed, the deal will add to a growing number of New York-listed Chinese firms that have already opted out of U.S. bourses by going private or returning to equity markets closer to home via second listings.\nThese moves come amid heightened scrutiny and stricter audit requirements https://www.reuters.com/business/finance/exclusive-sec-gives-chinese-companies-new-requirements-us-ipo-disclosures-2021-08-23 for U.S.-listed Chinese companies from American regulators amid political tensions between the countries.\nReuters reported last month that Weibo Chairman Charles Chao and a state investor were in talks to take Weibo private https://www.reuters.com/article/weibo-privitisation-idCNL2N2OI0WL in a deal that could value the Nasdaq-listed Chinese equivalent of Twitter at $20 billion-plus.\nThere were 16 announced take-private deals of U.S.-listed Chinese companies worth $19 billion last year, Dealogic data shows, versus just five such deals worth $8 billion in 2019.\nFINANCE AND REGULATORY NOD\nThe Li-Lei consortium is in talks with banks to finance the deal and seeks to secure a loan by using JOYY’s $4.9 billion cash and cash equivalents as collateral, two of the sources said, adding it aims to finalize the deal by the end of 2021.\nThe plan is to then spin off JOYY’s key asset, Singapore-based Bigo – which runs a live streaming platform Bigo Live and short video business Likee, and list it in Asia, likely in Hong Kong, to take advantage of higher valuations, one source added.\nFounded in 2005, JOYY went public on the Nasdaq in 2012. It also runs game-focused social media platform Hago and owns a 16% stake in Chinese videogame streaming site Huya.\nJOYY said in November that it would sell its video-based entertainment live streaming business in China to search engine giant Baidu Inc for about $3.6 billion in cash.\nThe sale is waiting to be green lit by the antitrust watchdog State Administration for Market Regulation (SAMR) to reach a final close in the coming weeks, the sources said.\nThe SAMR nod would also allow JOYY to receive the remaining proceeds of about $1.6 billion from Baidu, they added.\nThe SAMR did not immediately respond to a Reuters’ request for comment.\nJOYY shares have plunged 53% in the past six months while the Nasdaq Golden Dragon China Index, which tracks Chinese firms listed on the exchange, has dropped 41%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":119,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837709487,"gmtCreate":1629910943449,"gmtModify":1676530170921,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/837709487","repostId":"2162540270","repostType":4,"isVote":1,"tweetType":1,"viewCount":167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":831663364,"gmtCreate":1629322797358,"gmtModify":1676530000259,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/831663364","repostId":"1130907862","repostType":4,"repost":{"id":"1130907862","pubTimestamp":1629263879,"share":"https://www.laohu8.com/m/news/1130907862?lang=&edition=full","pubTime":"2021-08-18 13:17","market":"us","language":"en","title":"Nvidia: The Next 'Never Sell' Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=1130907862","media":"seekingalpha","summary":"NVIDIA reports earnings on Wednesday this week  as the stock is hovering around all-time highs.While the future certainly looks bright for the company, shares may be priced for perfection.That said, if any stock deserves a high multiple right now, it's NVIDIA!NVIDIA Corp.  reports earnings this week and the shares appear to be priced for perfection.NVIDIA certainly falls into that category. If any company deserves a high multiple today, it's certainly NVIDIA. The company has its hands  in three ","content":"<p><b>Summary</b></p>\n<ul>\n <li>NVIDIA reports earnings on Wednesday this week (8/18) as the stock is hovering around all-time highs.</li>\n <li>While the future certainly looks bright for the company, shares may be priced for perfection.</li>\n <li>That said, if any stock deserves a high multiple right now, it's NVIDIA!</li>\n <li>Is this the next \"never sell\" stock?</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/38542d6cdbd9dec8054c33389caf105c\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"><span>Daniel Chetroni/iStock Editorial via Getty Images</span></p>\n<p><b>Introduction</b></p>\n<p>NVIDIA Corp. (NVDA) reports earnings this week and the shares appear to be priced for perfection.</p>\n<p>That said...there are certain stocks that you just don't sell!</p>\n<p>NVIDIA certainly falls into that category. If any company deserves a high multiple today, it's certainly NVIDIA. The company has its hands (and chips) in three of the biggest growth segments in technology: Gaming, cryptocurrency, and 5G (not to mention its importance in auto/self-driving!).</p>\n<p>In fact, it's a stock that you should probably ADD to your position on any meaningful pullback.</p>\n<p>Which makes it a great stock for a cash-secured put strategy. Get paid to set a downside limit order on a stock that you want to buy (or add to) on any dips!</p>\n<p><b>Valuation</b></p>\n<p>As we head into earnings this week, let's take a look at valuation.</p>\n<p>High-growth technology companies are always tough to value as they tend to trade at really high (current) multiples based on future growth projections.</p>\n<p><img src=\"https://static.tigerbbs.com/488bcf7cabe5578f2e798e2b21b60dc0\" tg-width=\"565\" tg-height=\"230\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Yes, 45.8x forward earnings is a healthy multiple, but if any company deserves a high multiple today, it's certainly NVIDIA (given the importance of its chips in the major growth areas in technology).</p>\n<p>NVIDIA's historical sales and EPS growth charts have always been a thing of beauty!</p>\n<p><img src=\"https://static.tigerbbs.com/961a45a675c7ac09b08b5b755c2d096c\" tg-width=\"640\" tg-height=\"247\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Although some sales were certainly pulled forward during the pandemic, the company is expected to earn $3.95 per share in fiscal 2022 (129% increase over 2021). However, NVDA expects earnings to grow even further in 2023 and 2024 to $4.36 per share (10% growth) and $5.04 per share (16% growth), respectively.<i>Note that NVDA's fiscal year-end is January.</i></p>\n<p>The company's balance sheet also is extremely strong with $12.7 billion of cash/short-term investments and management is producing a great return on invested capital of 23.6%.</p>\n<p><b>The \"N\" in FAANG?</b></p>\n<p>One could argue that NVIDIA should actually replace Netflix (NFLX) as the \"N\" in FAANG.</p>\n<p>NVIDIA is currently the 9th largest weighting in the S&amp;P 500 (SPY).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9991ce7ada74056e0662b198cf339154\" tg-width=\"640\" tg-height=\"267\" width=\"100%\" height=\"auto\"><span>Source: YCharts</span></p>\n<p>And the 8th largest weighting in the Nasdaq 100 (QQQ).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1f835b261cdbc64458bb82196e5134f8\" tg-width=\"640\" tg-height=\"265\" width=\"100%\" height=\"auto\"><span>Source: YCharts</span></p>\n<p>Could NVIDIA also be the next addition to the Dow Jones Industrial Average (replacing International Business Machines (IBM) at some point)??</p>\n<p>All the more reason to not sell any time soon...</p>\n<p><b>Buy The Dip! (Through Cash-Secured Puts)</b></p>\n<p>Cash-secured puts are a great way to add to your long-term position on a stock that you like.</p>\n<p>From a short-term perspective (especially as it's related to selling cash-secured puts), estimating a good \"strike zone\" is key to our analysis. Our strike zone takes into account (1) the stock's volatility, (2) recent performance (i.e., how much has it already pulled back from its recent highs), (3) near-term EPS risk, and (4) the overall volatility of the market (i.e., VIX level).</p>\n<p>As shown in the table below, our strike zone for NVIDIA currently is $149.00-$173.00, representing a required minimum margin of safety of 13.0%.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e38091bf0ca8f52b16334659004eef4\" tg-width=\"640\" tg-height=\"283\" width=\"100%\" height=\"auto\"><span>(Source: Option income Advisor)</span></p>\n<p>NVIDIA has historically been a volatile stock (42% Implied Volatility), as highlighted by its low Volatility/Risk rating of 4. However, the stock is in a very strong uptrend (so its Pullback Indicator of 2 also has a negative effect on minimum required margin of safety, which is currently at 13.0%).</p>\n<p>NVDA also reports earnings this week, so that will need to be on our radar for the option analysis.</p>\n<p>As shown in the chart below, the stock is still in a very strong uptrend with its 50-day moving average (blue line) trading above its 200-day moving average (red line). We now have a few good levels of support to watch:</p>\n<ol>\n <li>50-day MA (~$193.00)</li>\n <li>Low from July 2021 (~$181.50)</li>\n <li>Breakout level from May 2021 (~$161.00)</li>\n <li>200-day MA (~$152.50)</li>\n</ol>\n<p><img src=\"https://static.tigerbbs.com/28eb9670c7016d91d063e8e7809de17d\" tg-width=\"640\" tg-height=\"440\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>There appears to be some decent technical support in our strike zone of $149.00-$173.00, which obviously makes us feel relatively good about selling a cash-secured put around the strike zone if we can.</p>\n<p><b>Cash-Secured Put Analysis (Premium Yield, Margin-of-Safety, Delta)</b></p>\n<p>We primarily trade an income strategy that we call the Triple Income Wheel, which starts with writing cash-secured puts on high-quality stocks that you would like to own at a lower price. We won't go into full detail here, but the diagram below is a good summary of the strategy.</p>\n<p><img src=\"https://static.tigerbbs.com/dfdd16ba25690201bcb1771ec8a557b9\" tg-width=\"640\" tg-height=\"640\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>Ideally, when we sell a cash-secured put and start the Triple Income Wheel process, our put is in our \"Strike Zone\" for that stock. In our opinion, that puts the odds of long-term success in our favor.</p>\n<p>The three main data points we look at when analyzing a cash-secured put trade are:</p>\n<ul>\n <li>Premium Yield% (or Average Monthly Yield%): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).<i>Assumes that the option is fully cash secured.</i></li>\n <li>Margin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.</li>\n <li>Delta: A good proxy for the probability that the put option will finish in-the-money.</li>\n</ul>\n<p><i>Note that there is always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.</i></p>\n<p><i>An investor should always be honest with themselves about their risk tolerance. The Triple Income Wheel can be adapted to suit your needs.</i></p>\n<p>Now let's look at the cash-secured put analysis for NVIDIA. We're focused on the August monthly contract that expires on 9/17/21.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f301b2bff52960855c087e8208548dbf\" tg-width=\"640\" tg-height=\"366\" width=\"100%\" height=\"auto\"><span>(Source: Option Income Advisor)</span></p>\n<p>We have highlighted three levels of trades based on various risk profiles: Aggressive (-A-), Base (-B-) and Conservative (-C-).<i>Please listen to the video above for further details.</i></p>\n<p>Ideally, we like to stick with our target levels for our Base portfolio:</p>\n<ul>\n <li>Average Monthly Yield % (AMY%): 1.0%-1.5%</li>\n <li>Strike price that is in the strike zone (i.e., margin of safety above the required minimum)</li>\n <li>Delta &lt; 30</li>\n</ul>\n<p>The NVDA Sept 17th $175.00 put option @ ~$1.81 meets all of our criteria with an AMY% of 1.0%, a Margin-of-Safety of 12.3%, and a Delta of 13.</p>\n<p><i>Again, based on your risk tolerance, you could choose a strike price that is more aggressive ($185.00 strike) or more conservative ($170.00 strike) than the base trade.</i></p>\n<p><b>Downside Considerations</b></p>\n<p>Assuming we sold the NVDA Sept 17th $175.00 strike put option @ $1.81, we would collect $181.00 of premium for each option contract sold. In return for this premium, we agree (and are obligated) to buy 100 shares of NVDA stock for each contract sold at the strike price of $175.00.</p>\n<p>If the stock stays above $175.00 between now and expiration (9/17/21), the option expires worthless and we keep the premium of $1.81.</p>\n<p>However,<i>the downside of this trade comes into play if the stock closes below $175.00 on expiration (9/17/21). Since we're obligated to buy the stock at $175.00, we would have a potential unrealized capital loss on our hands (depending on how low the stock closed on expiration)</i>. We do get to keep the premium either way though, so our breakeven cost basis would be $173.19 ($175.00 - $1.81).</p>\n<p>All that said, I think it's a win-win at this point if you can add to your NVDA position with a cost basis of $173.19.</p>\n<p><b>Conclusion</b></p>\n<p>Based on our long-term and short-term views on NVIDIA, we believe that a cash-secured put strategy makes a lot of sense right now for investors interested adding to their position (or starting a new position). The NVDA Sept 17th $175.00 put option would generate an average monthly yield of 1.0% (or 1.0% over the next 31 days) with a margin-of-safety of 12.3%.</p>\n<p>Assuming you could continue to roll this position every 45-60 days with similar risk/reward parameters, you could manufacture 12%-plus annualized income from NVIDIA over the next 12 months (while you patiently wait to add to your position).</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>Nvidia: The Next 'Never Sell' Stock?</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\">\nNvidia: The Next 'Never Sell' Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-18 13:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4450207-nvidia-the-next-never-sell-stock><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nNVIDIA reports earnings on Wednesday this week (8/18) as the stock is hovering around all-time highs.\nWhile the future certainly looks bright for the company, shares may be priced for ...</p>\n\n<a href=\"https://seekingalpha.com/article/4450207-nvidia-the-next-never-sell-stock\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://seekingalpha.com/article/4450207-nvidia-the-next-never-sell-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130907862","content_text":"Summary\n\nNVIDIA reports earnings on Wednesday this week (8/18) as the stock is hovering around all-time highs.\nWhile the future certainly looks bright for the company, shares may be priced for perfection.\nThat said, if any stock deserves a high multiple right now, it's NVIDIA!\nIs this the next \"never sell\" stock?\n\nDaniel Chetroni/iStock Editorial via Getty Images\nIntroduction\nNVIDIA Corp. (NVDA) reports earnings this week and the shares appear to be priced for perfection.\nThat said...there are certain stocks that you just don't sell!\nNVIDIA certainly falls into that category. If any company deserves a high multiple today, it's certainly NVIDIA. The company has its hands (and chips) in three of the biggest growth segments in technology: Gaming, cryptocurrency, and 5G (not to mention its importance in auto/self-driving!).\nIn fact, it's a stock that you should probably ADD to your position on any meaningful pullback.\nWhich makes it a great stock for a cash-secured put strategy. Get paid to set a downside limit order on a stock that you want to buy (or add to) on any dips!\nValuation\nAs we head into earnings this week, let's take a look at valuation.\nHigh-growth technology companies are always tough to value as they tend to trade at really high (current) multiples based on future growth projections.\n\nYes, 45.8x forward earnings is a healthy multiple, but if any company deserves a high multiple today, it's certainly NVIDIA (given the importance of its chips in the major growth areas in technology).\nNVIDIA's historical sales and EPS growth charts have always been a thing of beauty!\n\nAlthough some sales were certainly pulled forward during the pandemic, the company is expected to earn $3.95 per share in fiscal 2022 (129% increase over 2021). However, NVDA expects earnings to grow even further in 2023 and 2024 to $4.36 per share (10% growth) and $5.04 per share (16% growth), respectively.Note that NVDA's fiscal year-end is January.\nThe company's balance sheet also is extremely strong with $12.7 billion of cash/short-term investments and management is producing a great return on invested capital of 23.6%.\nThe \"N\" in FAANG?\nOne could argue that NVIDIA should actually replace Netflix (NFLX) as the \"N\" in FAANG.\nNVIDIA is currently the 9th largest weighting in the S&P 500 (SPY).\nSource: YCharts\nAnd the 8th largest weighting in the Nasdaq 100 (QQQ).\nSource: YCharts\nCould NVIDIA also be the next addition to the Dow Jones Industrial Average (replacing International Business Machines (IBM) at some point)??\nAll the more reason to not sell any time soon...\nBuy The Dip! (Through Cash-Secured Puts)\nCash-secured puts are a great way to add to your long-term position on a stock that you like.\nFrom a short-term perspective (especially as it's related to selling cash-secured puts), estimating a good \"strike zone\" is key to our analysis. Our strike zone takes into account (1) the stock's volatility, (2) recent performance (i.e., how much has it already pulled back from its recent highs), (3) near-term EPS risk, and (4) the overall volatility of the market (i.e., VIX level).\nAs shown in the table below, our strike zone for NVIDIA currently is $149.00-$173.00, representing a required minimum margin of safety of 13.0%.\n(Source: Option income Advisor)\nNVIDIA has historically been a volatile stock (42% Implied Volatility), as highlighted by its low Volatility/Risk rating of 4. However, the stock is in a very strong uptrend (so its Pullback Indicator of 2 also has a negative effect on minimum required margin of safety, which is currently at 13.0%).\nNVDA also reports earnings this week, so that will need to be on our radar for the option analysis.\nAs shown in the chart below, the stock is still in a very strong uptrend with its 50-day moving average (blue line) trading above its 200-day moving average (red line). We now have a few good levels of support to watch:\n\n50-day MA (~$193.00)\nLow from July 2021 (~$181.50)\nBreakout level from May 2021 (~$161.00)\n200-day MA (~$152.50)\n\n\nThere appears to be some decent technical support in our strike zone of $149.00-$173.00, which obviously makes us feel relatively good about selling a cash-secured put around the strike zone if we can.\nCash-Secured Put Analysis (Premium Yield, Margin-of-Safety, Delta)\nWe primarily trade an income strategy that we call the Triple Income Wheel, which starts with writing cash-secured puts on high-quality stocks that you would like to own at a lower price. We won't go into full detail here, but the diagram below is a good summary of the strategy.\n\nIdeally, when we sell a cash-secured put and start the Triple Income Wheel process, our put is in our \"Strike Zone\" for that stock. In our opinion, that puts the odds of long-term success in our favor.\nThe three main data points we look at when analyzing a cash-secured put trade are:\n\nPremium Yield% (or Average Monthly Yield%): Measure of expected return on capital assuming that the option expires worthless (out-of-the-money).Assumes that the option is fully cash secured.\nMargin-of-Safety %: Measure of downside protection or the percentage that the underlying stock could decline and would still allow you to break even on the option trade.\nDelta: A good proxy for the probability that the put option will finish in-the-money.\n\nNote that there is always a negative correlation between Premium Yield and Margin of Safety: The higher the Premium Yield for a given strike month, the lower the Margin of Safety.\nAn investor should always be honest with themselves about their risk tolerance. The Triple Income Wheel can be adapted to suit your needs.\nNow let's look at the cash-secured put analysis for NVIDIA. We're focused on the August monthly contract that expires on 9/17/21.\n(Source: Option Income Advisor)\nWe have highlighted three levels of trades based on various risk profiles: Aggressive (-A-), Base (-B-) and Conservative (-C-).Please listen to the video above for further details.\nIdeally, we like to stick with our target levels for our Base portfolio:\n\nAverage Monthly Yield % (AMY%): 1.0%-1.5%\nStrike price that is in the strike zone (i.e., margin of safety above the required minimum)\nDelta < 30\n\nThe NVDA Sept 17th $175.00 put option @ ~$1.81 meets all of our criteria with an AMY% of 1.0%, a Margin-of-Safety of 12.3%, and a Delta of 13.\nAgain, based on your risk tolerance, you could choose a strike price that is more aggressive ($185.00 strike) or more conservative ($170.00 strike) than the base trade.\nDownside Considerations\nAssuming we sold the NVDA Sept 17th $175.00 strike put option @ $1.81, we would collect $181.00 of premium for each option contract sold. In return for this premium, we agree (and are obligated) to buy 100 shares of NVDA stock for each contract sold at the strike price of $175.00.\nIf the stock stays above $175.00 between now and expiration (9/17/21), the option expires worthless and we keep the premium of $1.81.\nHowever,the downside of this trade comes into play if the stock closes below $175.00 on expiration (9/17/21). Since we're obligated to buy the stock at $175.00, we would have a potential unrealized capital loss on our hands (depending on how low the stock closed on expiration). We do get to keep the premium either way though, so our breakeven cost basis would be $173.19 ($175.00 - $1.81).\nAll that said, I think it's a win-win at this point if you can add to your NVDA position with a cost basis of $173.19.\nConclusion\nBased on our long-term and short-term views on NVIDIA, we believe that a cash-secured put strategy makes a lot of sense right now for investors interested adding to their position (or starting a new position). The NVDA Sept 17th $175.00 put option would generate an average monthly yield of 1.0% (or 1.0% over the next 31 days) with a margin-of-safety of 12.3%.\nAssuming you could continue to roll this position every 45-60 days with similar risk/reward parameters, you could manufacture 12%-plus annualized income from NVIDIA over the next 12 months (while you patiently wait to add to your position).","news_type":1},"isVote":1,"tweetType":1,"viewCount":32,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832533080,"gmtCreate":1629650504140,"gmtModify":1676530086091,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832533080","repostId":"1133515985","repostType":4,"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832308027,"gmtCreate":1629586233869,"gmtModify":1676530072155,"author":{"id":"4089767987692490","authorId":"4089767987692490","name":"superkool","avatar":"https://static.tigerbbs.com/4af71df2e26650ea818d2d7489b5e0ca","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false},"themes":[],"htmlText":"Ya","listText":"Ya","text":"Ya","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/832308027","repostId":"1107075259","repostType":4,"isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}