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AlvinCWC

AlvinCWC

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2021-09-24

Looks like a better buy than First Resources

Sterling Check opens for trading at $27.1, up about 18% from IPO price

2021-09-21

Fed got no intention to tank the market. Most likely business as normal

The One Indicator That Has Wall Street Biting Its Nails

2021-09-19

Is there a so called “active ETF”?Should it be either an active managed funds or just a thematic ETF (passive)?

Cathie Wood Keeps Selling Tesla, Unloading $62 Million of Shares

2021-09-14

Consolidation phase - the strong will grow stronger

EV Stocks dipped in Monday morning trading

2021-09-07

So the conclusion is rotate the funds from growth stocks to value, right?

3 Golden Rules On How To Invest At All-Time Highs

2021-09-03

Time to load up

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2021-09-03

It’s easy to advocate picking high quality stocks with solid profits & dividends but it’ll be even better if you may list down a number of them which tick the boxes

What Will Happen When Trillions In Stimulus Run Out In 2022?

2021-09-02

Still riding on the uptrend but wondering what’s the next catalyst?

Apple shares rose nearly 2% in early trading

2021-09-01

Interest rate will remains low for longer period forsure

Wall Street's subdued finish fails to detract from strong August

2021-09-01

But still online gaming has becomes daily activities among the young generation

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2021-09-01

Such bumpy ride recently

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2021-08-27

Privatised, re-package, then list again

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

2021-08-27

Long term uptrend still intact. Go! Go! Go!

Xpeng Motors Q2 revenues RMB3,761.3 million, increasing by 536.7% YOY

2021-08-26

Time to accumulate

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2021-08-25

Solid growth!

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2021-08-25

EV is the must have

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2021-08-25

About time for a rebound

Pinduoduo shares Popped 12% in premarket trading

2021-08-20

Alibaba is more like a tech-ETF by itself

Some of China concepts stocks dipped in premarket trading

2021-08-20

The fact is - these companies are still making tonnes of money, and there’s no sign of drastic slowdown

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2021-08-20

Some of the American didn’t even take the first dose...

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Go to Tiger App to see more news

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Technology</b></p>\n<p>New York-based Sterling was founded to develop a full suite of background screening, verifications and ongoing monitoring services for businesses.</p>\n<p>Management is headed by Chief Executive Officer Joshua Peirez, who has been with the firm since July 2018 and was previously president and COO of Dun &amp; Bradstreet and held senior roles at Mastercard prior to that.</p>\n<p>The company’s primary offering categories include:</p>\n<ul>\n <li><p>Identity verification</p></li>\n <li><p>Background screening</p></li>\n <li><p>Credential verifications</p></li>\n <li><p>Onboarding</p></li>\n <li><p>Ongoing monitoring</p></li>\n</ul>\n<p>Sterling has received at least $775 million in equity investment from investors including Goldman Sachs and The Greenblatt Trusts.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues large clients through a direct sales team approach organized by industry vertical and region.</p>\n<p>For the 12 months ended June 30, 2021, the firm's platform performed over 75 million searches for over 40,000 clients.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have dropped as revenues have fluctuated, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</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>22.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>27.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>29.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>The Selling, G&amp;A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&amp;A spend, rebounded to 1.3x 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, G&amp;A</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>1.3</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>-0.4</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</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>STER’s most recent calculation was 51% for the six months ended June 30, 2021, so the firm has performed 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>44%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>51%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby The Insight Partners, the global employment screening market, one of the firm's focus areas, was an estimated $4.2 billion in 2020 and is forecast to reach $6.4 billion by 2028.</p>\n<p>This represents a forecast CAGR of 5.5% from 2021 to 2028.</p>\n<p>The main drivers for this expected growth are increased populations in urban areas resulting in greater job opportunities and employee demand and a growing incidence of application fraud or inflation.</p>\n<p>Also, the number of applicants for each job opening has increased along with a larger number of contract, temporary and 'gig economy' workers.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li><p>First Advantage</p></li>\n <li><p>HireRight</p></li>\n <li><p>Accurate Background</p></li>\n <li><p>ADP</p></li>\n <li><p>Cisive</p></li>\n <li><p>Checkr</p></li>\n <li><p>DISA</p></li>\n <li><p>Triton</p></li>\n <li><p>Other smaller players</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Sterling’s recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Rebounding topline revenue growth</p></li>\n <li><p>Variable gross profit growth</p></li>\n <li><p>Slightly reduced gross margin</p></li>\n <li><p>A swing to operating profit and net income</p></li>\n <li><p>Growing cash flow from operations in 2021</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 298,698,000</p></td>\n   <td><p>43.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 454,053,000</p></td>\n   <td><p>-8.7%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 497,116,000</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>$ 155,539,000</p></td>\n   <td><p>41.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 236,743,000</p></td>\n   <td><p>-14.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 275,769,000</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>52.07%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>52.14%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>55.47%</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>$ 23,204,000</p></td>\n   <td><p>7.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (23,103,000)</p></td>\n   <td><p>-5.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (13,374,000)</p></td>\n   <td><p>-2.7%</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>$ 4,025,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (52,293,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (46,682,000)</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>$ 45,290,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 36,185,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 36,204,000</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)</p>\n<p>As of June 30, 2021, Sterling had $94.3 million in cash and $744.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $45 million.</p>\n<p><b>IPO Details</b></p>\n<p>STER intends to sell 4.76 million shares and selling shareholders will offer 9.525 million shares of common stock at a proposed midpoint price of $21.00 per share for gross proceeds of approximately $300 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO 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 $2.4 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 15.2%. 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 currently intend to use the net proceeds to us from this offering, together with cash on hand, to repay approximately $100.0 million outstanding under our Term loan. We intend to use the remainder, if any, of the net proceeds to us from this offering for general corporate purposes.\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management said the firm is not a party to any legal proceedings that it believes would be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Morgan Stanley 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>$1,973,227,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$2,401,254,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>3.62</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>4.41</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>122.06</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>-$0.08</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>15.20%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$21.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$44,998,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>2.28%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>43.64%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>As a reference, a potential public comparable would be First Advantage(NASDAQ:FA); 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>First Advantage</b></p></td>\n   <td><p><b>Sterling Check</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>5.76</p></td>\n   <td><p>3.62</p></td>\n   <td><p>-37.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>6.53</p></td>\n   <td><p>4.41</p></td>\n   <td><p>-32.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>23.41</p></td>\n   <td><p>122.06</p></td>\n   <td><p>421.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.04</p></td>\n   <td><p>-$0.08</p></td>\n   <td><p>-293.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>19.2%</p></td>\n   <td><p>43.64%</p></td>\n   <td><p>127.89%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(S-1/AandSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>STER is going public to obtain investment to pay down some of its debt and for its corporate expansion initiatives.</p>\n<p>The firm’s financials show rebounding topline revenue growth, uneven gross profit growth, a swing to operating profit and net income and growing cash flow from operations in 2021.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was an impressive $45 million.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have trended lower as revenue has varied and its Selling, G&amp;A efficiency rate rebounded to 1.3x in the most recent six-month reporting period.</p>\n<p>The market opportunity for providing background checks and related services is large and expected to grow at a moderate CAGR Of 5.5% in the coming years, although the continued transition to a decentralized workforce may increase demand a bit above this estimate.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 37.3% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The general business cycle - when companies hire fewer workers during down economic periods, demand for the company’s services will decline.</p>\n<p>While Sterling is not immune to the ups and downs of the business cycle and potential future pandemic variant effects on economic activity, the firm has rebounded impressively and appears positioned to compete in a growing market.</p>\n<p>As for valuation, compared to First Advantage, which went public earlier in 2021 and performed since its debut, STER appears reasonably valued on a revenue multiple basis as the firm is growing revenue at a faster rate. STER is nearing EPS breakeven.</p>\n<p>Given the company’s strong rebound after the 2020 pandemic period and reasonable IPO valuation, the IPO is worth a close look.</p>\n<p></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>Sterling Check opens for trading at $27.1, up about 18% 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; 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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\">\nSterling Check opens for trading at $27.1, up about 18% 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 23:59</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/STER\">Sterling Check Corp.</a> opens for trading at $27.1, up about 18% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/cc3f51dd719989f02bf56c538ce17c72\" tg-width=\"904\" tg-height=\"560\" referrerpolicy=\"no-referrer\"><b>Company &amp; Technology</b></p>\n<p>New York-based Sterling was founded to develop a full suite of background screening, verifications and ongoing monitoring services for businesses.</p>\n<p>Management is headed by Chief Executive Officer Joshua Peirez, who has been with the firm since July 2018 and was previously president and COO of Dun &amp; Bradstreet and held senior roles at Mastercard prior to that.</p>\n<p>The company’s primary offering categories include:</p>\n<ul>\n <li><p>Identity verification</p></li>\n <li><p>Background screening</p></li>\n <li><p>Credential verifications</p></li>\n <li><p>Onboarding</p></li>\n <li><p>Ongoing monitoring</p></li>\n</ul>\n<p>Sterling has received at least $775 million in equity investment from investors including Goldman Sachs and The Greenblatt Trusts.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues large clients through a direct sales team approach organized by industry vertical and region.</p>\n<p>For the 12 months ended June 30, 2021, the firm's platform performed over 75 million searches for over 40,000 clients.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have dropped as revenues have fluctuated, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</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>22.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>27.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>29.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>The Selling, G&amp;A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&amp;A spend, rebounded to 1.3x 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, G&amp;A</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>1.3</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>-0.4</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</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>STER’s most recent calculation was 51% for the six months ended June 30, 2021, so the firm has performed 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>44%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>51%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby The Insight Partners, the global employment screening market, one of the firm's focus areas, was an estimated $4.2 billion in 2020 and is forecast to reach $6.4 billion by 2028.</p>\n<p>This represents a forecast CAGR of 5.5% from 2021 to 2028.</p>\n<p>The main drivers for this expected growth are increased populations in urban areas resulting in greater job opportunities and employee demand and a growing incidence of application fraud or inflation.</p>\n<p>Also, the number of applicants for each job opening has increased along with a larger number of contract, temporary and 'gig economy' workers.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li><p>First Advantage</p></li>\n <li><p>HireRight</p></li>\n <li><p>Accurate Background</p></li>\n <li><p>ADP</p></li>\n <li><p>Cisive</p></li>\n <li><p>Checkr</p></li>\n <li><p>DISA</p></li>\n <li><p>Triton</p></li>\n <li><p>Other smaller players</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Sterling’s recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Rebounding topline revenue growth</p></li>\n <li><p>Variable gross profit growth</p></li>\n <li><p>Slightly reduced gross margin</p></li>\n <li><p>A swing to operating profit and net income</p></li>\n <li><p>Growing cash flow from operations in 2021</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 298,698,000</p></td>\n   <td><p>43.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 454,053,000</p></td>\n   <td><p>-8.7%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 497,116,000</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>$ 155,539,000</p></td>\n   <td><p>41.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 236,743,000</p></td>\n   <td><p>-14.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 275,769,000</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>52.07%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>52.14%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>55.47%</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>$ 23,204,000</p></td>\n   <td><p>7.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (23,103,000)</p></td>\n   <td><p>-5.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (13,374,000)</p></td>\n   <td><p>-2.7%</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>$ 4,025,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (52,293,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (46,682,000)</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>$ 45,290,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 36,185,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 36,204,000</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)</p>\n<p>As of June 30, 2021, Sterling had $94.3 million in cash and $744.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $45 million.</p>\n<p><b>IPO Details</b></p>\n<p>STER intends to sell 4.76 million shares and selling shareholders will offer 9.525 million shares of common stock at a proposed midpoint price of $21.00 per share for gross proceeds of approximately $300 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO 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 $2.4 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 15.2%. 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 currently intend to use the net proceeds to us from this offering, together with cash on hand, to repay approximately $100.0 million outstanding under our Term loan. We intend to use the remainder, if any, of the net proceeds to us from this offering for general corporate purposes.\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management said the firm is not a party to any legal proceedings that it believes would be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Morgan Stanley 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>$1,973,227,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$2,401,254,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>3.62</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>4.41</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>122.06</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>-$0.08</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>15.20%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$21.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$44,998,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>2.28%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>43.64%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>As a reference, a potential public comparable would be First Advantage(NASDAQ:FA); 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>First Advantage</b></p></td>\n   <td><p><b>Sterling Check</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>5.76</p></td>\n   <td><p>3.62</p></td>\n   <td><p>-37.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>6.53</p></td>\n   <td><p>4.41</p></td>\n   <td><p>-32.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>23.41</p></td>\n   <td><p>122.06</p></td>\n   <td><p>421.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.04</p></td>\n   <td><p>-$0.08</p></td>\n   <td><p>-293.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>19.2%</p></td>\n   <td><p>43.64%</p></td>\n   <td><p>127.89%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(S-1/AandSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>STER is going public to obtain investment to pay down some of its debt and for its corporate expansion initiatives.</p>\n<p>The firm’s financials show rebounding topline revenue growth, uneven gross profit growth, a swing to operating profit and net income and growing cash flow from operations in 2021.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was an impressive $45 million.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have trended lower as revenue has varied and its Selling, G&amp;A efficiency rate rebounded to 1.3x in the most recent six-month reporting period.</p>\n<p>The market opportunity for providing background checks and related services is large and expected to grow at a moderate CAGR Of 5.5% in the coming years, although the continued transition to a decentralized workforce may increase demand a bit above this estimate.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 37.3% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The general business cycle - when companies hire fewer workers during down economic periods, demand for the company’s services will decline.</p>\n<p>While Sterling is not immune to the ups and downs of the business cycle and potential future pandemic variant effects on economic activity, the firm has rebounded impressively and appears positioned to compete in a growing market.</p>\n<p>As for valuation, compared to First Advantage, which went public earlier in 2021 and performed since its debut, STER appears reasonably valued on a revenue multiple basis as the firm is growing revenue at a faster rate. STER is nearing EPS breakeven.</p>\n<p>Given the company’s strong rebound after the 2020 pandemic period and reasonable IPO valuation, the IPO is worth a close look.</p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STER":"Sterling Check Corp."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148130438","content_text":"(Sept 23) Sterling Check Corp. opens for trading at $27.1, up about 18% from IPO price.\nCompany & Technology\nNew York-based Sterling was founded to develop a full suite of background screening, verifications and ongoing monitoring services for businesses.\nManagement is headed by Chief Executive Officer Joshua Peirez, who has been with the firm since July 2018 and was previously president and COO of Dun & Bradstreet and held senior roles at Mastercard prior to that.\nThe company’s primary offering categories include:\n\nIdentity verification\nBackground screening\nCredential verifications\nOnboarding\nOngoing monitoring\n\nSterling has received at least $775 million in equity investment from investors including Goldman Sachs and The Greenblatt Trusts.\nCustomer Acquisition\nThe firm pursues large clients through a direct sales team approach organized by industry vertical and region.\nFor the 12 months ended June 30, 2021, the firm's platform performed over 75 million searches for over 40,000 clients.\nSelling, G&A expenses as a percentage of total revenue have dropped as revenues have fluctuated, as the figures below indicate:\n\n\n\n\nSelling, G&A\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n22.8%\n\n\n2020\n27.0%\n\n\n2019\n29.6%\n\n\n\n(Source)\nThe Selling, G&A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&A spend, rebounded to 1.3x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling, G&A\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.3\n\n\n2020\n-0.4\n\n\n\n(Source)\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.\nSTER’s most recent calculation was 51% for the six months ended June 30, 2021, so the firm has performed well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n44%\n\n\nEBITDA %\n8%\n\n\nTotal\n51%\n\n\n\n(Source)\nMarket & Competition\nAccording to a 2021 marketresearch reportby The Insight Partners, the global employment screening market, one of the firm's focus areas, was an estimated $4.2 billion in 2020 and is forecast to reach $6.4 billion by 2028.\nThis represents a forecast CAGR of 5.5% from 2021 to 2028.\nThe main drivers for this expected growth are increased populations in urban areas resulting in greater job opportunities and employee demand and a growing incidence of application fraud or inflation.\nAlso, the number of applicants for each job opening has increased along with a larger number of contract, temporary and 'gig economy' workers.\nMajor competitive or other industry participants include:\n\nFirst Advantage\nHireRight\nAccurate Background\nADP\nCisive\nCheckr\nDISA\nTriton\nOther smaller players\n\nFinancial Performance\nSterling’s recent financial results can be summarized as follows:\n\nRebounding topline revenue growth\nVariable gross profit growth\nSlightly reduced gross margin\nA swing to operating profit and net income\nGrowing cash flow from operations in 2021\n\nBelow are relevant financial results derived from the firm’s registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 298,698,000\n43.6%\n\n\n2020\n$ 454,053,000\n-8.7%\n\n\n2019\n$ 497,116,000\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$ 155,539,000\n41.9%\n\n\n2020\n$ 236,743,000\n-14.2%\n\n\n2019\n$ 275,769,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n52.07%\n\n\n2020\n52.14%\n\n\n2019\n55.47%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 23,204,000\n7.8%\n\n\n2020\n$ (23,103,000)\n-5.1%\n\n\n2019\n$ (13,374,000)\n-2.7%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 4,025,000\n\n\n2020\n$ (52,293,000)\n\n\n2019\n$ (46,682,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 45,290,000\n\n\n2020\n$ 36,185,000\n\n\n2019\n$ 36,204,000\n\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nAs of June 30, 2021, Sterling had $94.3 million in cash and $744.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $45 million.\nIPO Details\nSTER intends to sell 4.76 million shares and selling shareholders will offer 9.525 million shares of common stock at a proposed midpoint price of $21.00 per share for gross proceeds of approximately $300 million, not including the sale of customary underwriter options.\nNo existing shareholders have indicated an interest to purchase shares at the IPO 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 $2.4 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 15.2%. 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 currently intend to use the net proceeds to us from this offering, together with cash on hand, to repay approximately $100.0 million outstanding under our Term loan. We intend to use the remainder, if any, of the net proceeds to us from this offering for general corporate purposes.\n\nManagement’s presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management said the firm is not a party to any legal proceedings that it believes would be material to its operations or financial condition.\nListed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Morgan Stanley 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$1,973,227,914\n\n\nEnterprise Value\n$2,401,254,914\n\n\nPrice / Sales\n3.62\n\n\nEV / Revenue\n4.41\n\n\nEV / EBITDA\n122.06\n\n\nEarnings Per Share\n-$0.08\n\n\nFloat To Outstanding Shares Ratio\n15.20%\n\n\nProposed IPO Midpoint Price per Share\n$21.00\n\n\nNet Free Cash Flow\n$44,998,000\n\n\nFree Cash Flow Yield Per Share\n2.28%\n\n\nRevenue Growth Rate\n43.64%\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nAs a reference, a potential public comparable would be First Advantage(NASDAQ:FA); shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nFirst Advantage\nSterling Check\nVariance\n\n\nPrice / Sales\n5.76\n3.62\n-37.1%\n\n\nEV / Revenue\n6.53\n4.41\n-32.5%\n\n\nEV / EBITDA\n23.41\n122.06\n421.4%\n\n\nEarnings Per Share\n$0.04\n-$0.08\n-293.0%\n\n\nRevenue Growth Rate\n19.2%\n43.64%\n127.89%\n\n\n(Glossary Of Terms)\n\n\n\n(S-1/AandSeeking Alpha)\nCommentary\nSTER is going public to obtain investment to pay down some of its debt and for its corporate expansion initiatives.\nThe firm’s financials show rebounding topline revenue growth, uneven gross profit growth, a swing to operating profit and net income and growing cash flow from operations in 2021.\nFree cash flow for the twelve months ended June 30, 2021, was an impressive $45 million.\nSelling, G&A expenses as a percentage of total revenue have trended lower as revenue has varied and its Selling, G&A efficiency rate rebounded to 1.3x in the most recent six-month reporting period.\nThe market opportunity for providing background checks and related services is large and expected to grow at a moderate CAGR Of 5.5% in the coming years, although the continued transition to a decentralized workforce may increase demand a bit above this estimate.\nGoldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 37.3% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe general business cycle - when companies hire fewer workers during down economic periods, demand for the company’s services will decline.\nWhile Sterling is not immune to the ups and downs of the business cycle and potential future pandemic variant effects on economic activity, the firm has rebounded impressively and appears positioned to compete in a growing market.\nAs for valuation, compared to First Advantage, which went public earlier in 2021 and performed since its debut, STER appears reasonably valued on a revenue multiple basis as the firm is growing revenue at a faster rate. STER is nearing EPS breakeven.\nGiven the company’s strong rebound after the 2020 pandemic period and reasonable IPO valuation, the IPO is worth a close look.","news_type":1},"isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860665182,"gmtCreate":1632177468146,"gmtModify":1676530716154,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Fed got no intention to tank the market. Most likely business as normal","listText":"Fed got no intention to tank the market. Most likely business as normal","text":"Fed got no intention to tank the market. Most likely business as normal","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/860665182","repostId":"1196172424","repostType":4,"repost":{"id":"1196172424","pubTimestamp":1632105381,"share":"https://ttm.financial/m/news/1196172424?lang=&edition=fundamental","pubTime":"2021-09-20 10:36","market":"us","language":"en","title":"The One Indicator That Has Wall Street Biting Its Nails","url":"https://stock-news.laohu8.com/highlight/detail?id=1196172424","media":"Barrons","summary":"The stock market dropped because there’s something scarier than taxes, tapers, and contagion.","content":"<p>Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.</p>\n<p>The predictions of impending doom from Wall Street’s talking heads continued this past week. The reasons for a pullback are many: The stock market has rallied for too long and has gone up too smoothly, the Federal Reserve is about to remove the bond buying that has helped prop markets up, taxes are ready to rise, economic data are slowing. None of it really left a mark.</p>\n<p>But then the&nbsp;S&amp;P 500&nbsp;dropped 0.6%, to 4432.99, over the week, while the&nbsp;Dow Jones Industrial Average&nbsp;fell 0.1%, to 34,584.88, and the&nbsp;Nasdaq Composite&nbsp;slumped 0.5%, to 15,043.97. For the S&amp;P 500, it was the first close since June 18 below its 50-day moving average—a technical measure of the previous 50 days’ closes that often ends up acting as support or resistance and that currently sits at 4436.35. For traders, it was very frightening.</p>\n<p>That the drop also occurred on options expiration day—when options bets expire and are rolled over, typically a volatile day—also makes the moment fraught. Since May, options expiration has been the time for the S&amp;P 500 to make a quick test of its 50-day moving average before a bounce higher. And when I say quick, I mean quick, as it usually took the index a day, maybe two, to rebound.</p>\n<p>“The 50-Day MA discussion has been pounded into our heads with every drawdown,” writes Frank Cappelleri, desk strategist at Instinet. “And while we may be sick of hearing about it, the dip buying around the line has been a real phenomenon.”</p>\n<p>This time has a different feel to it. The S&amp;P 500’s sojourn near the 50-day has been longer, notes Jonathan Krinsky, chief market technician at Bay Crest Partners. It’s been sitting near it for about six trading days now, without a big drop or big bounce. “The current set-up looks a bit more like a consolidation on the 50 DMA, as opposed to the prior quick ‘V-shaped’ dips,” Krinsky writes. “What we are saying is that the current way in which we got here feels a bit different than the last four to five times.”</p>\n<p>Still, Krinsky acknowledges that one close below the 50-day isn’t enough to panic. That’s because the S&amp;P 500 has now gone 218 days without two closes below the average, the second-longest streak since 1990. We won’t know if that streak breaks until the end of trading on Monday.</p>\n<p>The market has plenty of excuses to break the 50-day, if it’s so inclined. Maybe Evergrande (ticker: 3333.Hong Kong), the troubled Chinese property developer, will prove to be a Lehman moment and bring the world’s markets down with it. Maybe the Fed will surprise everyone and start tapering this coming week. Maybe something is lurking out there like the Baba Yaga of the old fairy tales, and maybe it looks a lot like Keanu Reeves.</p>\n<p>But perhaps all the September weakness and worry are a good thing, setting the market up for its next run. “The ACWI is oversold again, and sentiment is not too optimistic,” writes Ned Davis Research’s Tim Hayes, commenting on the MSCI All-Country World Index. “The market’s resilience in the face of the negative September seasonality could be the preview of a bullish response to seasonal tendencies that turn favorable in the fourth quarter.”</p>\n<p>We just have to get there first.</p>","source":"lsy1601382232898","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>The One Indicator That Has Wall Street Biting Its Nails</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\">\nThe One Indicator That Has Wall Street Biting Its Nails\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-20 10:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.\nThe predictions of impending doom from Wall Street’s talking heads continued this past ...</p>\n\n<a href=\"https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196172424","content_text":"Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.\nThe predictions of impending doom from Wall Street’s talking heads continued this past week. The reasons for a pullback are many: The stock market has rallied for too long and has gone up too smoothly, the Federal Reserve is about to remove the bond buying that has helped prop markets up, taxes are ready to rise, economic data are slowing. None of it really left a mark.\nBut then the S&P 500 dropped 0.6%, to 4432.99, over the week, while the Dow Jones Industrial Average fell 0.1%, to 34,584.88, and the Nasdaq Composite slumped 0.5%, to 15,043.97. For the S&P 500, it was the first close since June 18 below its 50-day moving average—a technical measure of the previous 50 days’ closes that often ends up acting as support or resistance and that currently sits at 4436.35. For traders, it was very frightening.\nThat the drop also occurred on options expiration day—when options bets expire and are rolled over, typically a volatile day—also makes the moment fraught. Since May, options expiration has been the time for the S&P 500 to make a quick test of its 50-day moving average before a bounce higher. And when I say quick, I mean quick, as it usually took the index a day, maybe two, to rebound.\n“The 50-Day MA discussion has been pounded into our heads with every drawdown,” writes Frank Cappelleri, desk strategist at Instinet. “And while we may be sick of hearing about it, the dip buying around the line has been a real phenomenon.”\nThis time has a different feel to it. The S&P 500’s sojourn near the 50-day has been longer, notes Jonathan Krinsky, chief market technician at Bay Crest Partners. It’s been sitting near it for about six trading days now, without a big drop or big bounce. “The current set-up looks a bit more like a consolidation on the 50 DMA, as opposed to the prior quick ‘V-shaped’ dips,” Krinsky writes. “What we are saying is that the current way in which we got here feels a bit different than the last four to five times.”\nStill, Krinsky acknowledges that one close below the 50-day isn’t enough to panic. That’s because the S&P 500 has now gone 218 days without two closes below the average, the second-longest streak since 1990. We won’t know if that streak breaks until the end of trading on Monday.\nThe market has plenty of excuses to break the 50-day, if it’s so inclined. Maybe Evergrande (ticker: 3333.Hong Kong), the troubled Chinese property developer, will prove to be a Lehman moment and bring the world’s markets down with it. Maybe the Fed will surprise everyone and start tapering this coming week. Maybe something is lurking out there like the Baba Yaga of the old fairy tales, and maybe it looks a lot like Keanu Reeves.\nBut perhaps all the September weakness and worry are a good thing, setting the market up for its next run. “The ACWI is oversold again, and sentiment is not too optimistic,” writes Ned Davis Research’s Tim Hayes, commenting on the MSCI All-Country World Index. “The market’s resilience in the face of the negative September seasonality could be the preview of a bullish response to seasonal tendencies that turn favorable in the fourth quarter.”\nWe just have to get there first.","news_type":1},"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887811874,"gmtCreate":1632016312198,"gmtModify":1676530686535,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Is there a so called “active ETF”?Should it be either an active managed funds or just a thematic ETF (passive)?","listText":"Is there a so called “active ETF”?Should it be either an active managed funds or just a thematic ETF (passive)?","text":"Is there a so called “active ETF”?Should it be either an active managed funds or just a thematic ETF (passive)?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/887811874","repostId":"2167287516","repostType":4,"repost":{"id":"2167287516","pubTimestamp":1631773899,"share":"https://ttm.financial/m/news/2167287516?lang=&edition=fundamental","pubTime":"2021-09-16 14:31","market":"us","language":"en","title":"Cathie Wood Keeps Selling Tesla, Unloading $62 Million of Shares","url":"https://stock-news.laohu8.com/highlight/detail?id=2167287516","media":"Bloomberg","summary":"Cathie Wood’s exchange-traded funds sold more Tesla Inc. shares, taking the total value of the electric vehicle maker’s stock they’ve offloaded this month to about $266 million.The ARK Innovation and ARK Next Generation Internet ETFs sold over 81,600 shares in Tesla on Wednesday, according to ARK Investment’s daily trading update. At closing prices, that puts the value at about $62 million.Ark funds have sold more than 350,000 Tesla shares in September so far. Still, the Elon Musk-led company is","content":"<p>Cathie Wood’s exchange-traded funds sold more Tesla Inc. shares, taking the total value of the electric vehicle maker’s stock they’ve offloaded this month to about $266 million.</p>\n<p>The ARK Innovation and ARK Next Generation Internet ETFs sold over 81,600 shares in Tesla on Wednesday, according to ARK Investment’s daily trading&nbsp;update. At closing prices, that puts the value at about $62 million.</p>\n<p>Ark funds have sold more than 350,000 Tesla shares in September so far. Still, the Elon Musk-led company is their biggest holding, according to data compiled by Bloomberg. Tesla&nbsp;shares&nbsp;have been rebounding since mid-May, gaining about 34% in the period.</p>\n<p><img src=\"https://static.tigerbbs.com/5aa38d91890a0804df0621f0aab8f5e4\" tg-width=\"1200\" tg-height=\"675\" width=\"100%\" height=\"auto\"></p>\n<p>Ark’s strategy regularly involves selling some of its winners to invest in other targets. As the firm trimmed its Tesla stake last year, Wood&nbsp;told&nbsp;CNBC it was “wise portfolio management” to control position sizes.</p>\n<p>Ark’s daily trading update reflects portfolio changes made by its investment team and excludes creation and redemption activity and public offerings; for this reason it may not fully reflect all of the firm’s trades.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Keeps Selling Tesla, Unloading $62 Million of Shares</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\">\nCathie Wood Keeps Selling Tesla, Unloading $62 Million of Shares\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-16 14:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-09-16/cathie-wood-keeps-selling-tesla-unloading-62-million-of-shares?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’s exchange-traded funds sold more Tesla Inc. shares, taking the total value of the electric vehicle maker’s stock they’ve offloaded this month to about $266 million.\nThe ARK Innovation and...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-09-16/cathie-wood-keeps-selling-tesla-unloading-62-million-of-shares?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF","TSLA":"特斯拉","ARKW":"ARK Next Generation Internation ETF"},"source_url":"https://www.bloomberg.com/news/articles/2021-09-16/cathie-wood-keeps-selling-tesla-unloading-62-million-of-shares?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167287516","content_text":"Cathie Wood’s exchange-traded funds sold more Tesla Inc. shares, taking the total value of the electric vehicle maker’s stock they’ve offloaded this month to about $266 million.\nThe ARK Innovation and ARK Next Generation Internet ETFs sold over 81,600 shares in Tesla on Wednesday, according to ARK Investment’s daily trading update. At closing prices, that puts the value at about $62 million.\nArk funds have sold more than 350,000 Tesla shares in September so far. Still, the Elon Musk-led company is their biggest holding, according to data compiled by Bloomberg. Tesla shares have been rebounding since mid-May, gaining about 34% in the period.\n\nArk’s strategy regularly involves selling some of its winners to invest in other targets. As the firm trimmed its Tesla stake last year, Wood told CNBC it was “wise portfolio management” to control position sizes.\nArk’s daily trading update reflects portfolio changes made by its investment team and excludes creation and redemption activity and public offerings; for this reason it may not fully reflect all of the firm’s trades.","news_type":1},"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886177369,"gmtCreate":1631578054751,"gmtModify":1676530578601,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Consolidation phase - the strong will grow stronger","listText":"Consolidation phase - the strong will grow stronger","text":"Consolidation phase - the strong will grow stronger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/886177369","repostId":"1108674949","repostType":4,"repost":{"id":"1108674949","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":1631540940,"share":"https://ttm.financial/m/news/1108674949?lang=&edition=fundamental","pubTime":"2021-09-13 21:49","market":"us","language":"en","title":"EV Stocks dipped in Monday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1108674949","media":"Tiger Newspress","summary":"EV Stocks dipped in Monday morning trading.Tesla,Nio,Xpeng Motors and Li Auto fell between 2% and 3%.China has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable.“Looking forward, EV companies should grow bigger and stronger. We have too many EV firms on the market right now,” Xiao Yaqing, the minister for industry and information technology, said at a press conference ","content":"<p>EV Stocks dipped in Monday morning trading.Tesla,Nio,Xpeng Motors and Li Auto&nbsp;fell&nbsp;between 2% and 3%.</p>\n<p><img src=\"https://static.tigerbbs.com/5e3c5a4dc4224ac668393170a00547fb\" tg-width=\"367\" tg-height=\"241\" referrerpolicy=\"no-referrer\"></p>\n<p>China has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable.</p>\n<p>“Looking forward, EV companies should grow bigger and stronger. We have too many EV firms on the market right now,” Xiao Yaqing, the minister for industry and information technology, said at a press conference in Beijing on Monday.</p>\n<p>“The firms are mostly small and scattered,” he said. “The role of the market should be fully utilized and we encourage merger and restructuring efforts in the EV sector to further increase market concentration.”</p>\n<p>Shares of Chinese electric-vehicle makers fell Monday.Xpeng Inc.&nbsp;declined 2.3% in Hong Kong trading, and&nbsp;Li Auto Inc.&nbsp;dropped 1.4%. On mainland exchanges,BYD Co.&nbsp;slid 1.8% and&nbsp;BAIC BluePark New Energy Technology Co.&nbsp;slumped 4.6%.</p>\n<p>China, which built its electric-car industry into the world’s biggest, is putting a new focus on consolidating the ranks of EV makers which has ballooned to about 300. The government is drafting measures to rein in overcapacity in the sector and channel resources to a number of key production hubs, Bloomberg News&nbsp;reported&nbsp;last week, citing people familiar with the matter.</p>\n<p>Regulators are considering setting a minimum production capacity utilization rate for the industry, and provinces that aren’t meeting it won’t be allowed to approve new projects until surplus capacity comes online, Bloomberg reported.</p>\n<p>Tesla is competitive in China, but a consolidated domestic sector could pose a new challenge for the high-profile electric vehicle company.</p>\n<p>Tesla announced that it is going to increase the price of its Model Y Performance car in China by $1,552. According to the report announced on the Chinese microblogging website Weibo, the new price of Model Y will be RMB 387,900.</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>EV Stocks dipped in Monday morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV Stocks dipped in Monday morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-13 21:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>EV Stocks dipped in Monday morning trading.Tesla,Nio,Xpeng Motors and Li Auto&nbsp;fell&nbsp;between 2% and 3%.</p>\n<p><img src=\"https://static.tigerbbs.com/5e3c5a4dc4224ac668393170a00547fb\" tg-width=\"367\" tg-height=\"241\" referrerpolicy=\"no-referrer\"></p>\n<p>China has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable.</p>\n<p>“Looking forward, EV companies should grow bigger and stronger. We have too many EV firms on the market right now,” Xiao Yaqing, the minister for industry and information technology, said at a press conference in Beijing on Monday.</p>\n<p>“The firms are mostly small and scattered,” he said. “The role of the market should be fully utilized and we encourage merger and restructuring efforts in the EV sector to further increase market concentration.”</p>\n<p>Shares of Chinese electric-vehicle makers fell Monday.Xpeng Inc.&nbsp;declined 2.3% in Hong Kong trading, and&nbsp;Li Auto Inc.&nbsp;dropped 1.4%. On mainland exchanges,BYD Co.&nbsp;slid 1.8% and&nbsp;BAIC BluePark New Energy Technology Co.&nbsp;slumped 4.6%.</p>\n<p>China, which built its electric-car industry into the world’s biggest, is putting a new focus on consolidating the ranks of EV makers which has ballooned to about 300. The government is drafting measures to rein in overcapacity in the sector and channel resources to a number of key production hubs, Bloomberg News&nbsp;reported&nbsp;last week, citing people familiar with the matter.</p>\n<p>Regulators are considering setting a minimum production capacity utilization rate for the industry, and provinces that aren’t meeting it won’t be allowed to approve new projects until surplus capacity comes online, Bloomberg reported.</p>\n<p>Tesla is competitive in China, but a consolidated domestic sector could pose a new challenge for the high-profile electric vehicle company.</p>\n<p>Tesla announced that it is going to increase the price of its Model Y Performance car in China by $1,552. According to the report announced on the Chinese microblogging website Weibo, the new price of Model Y will be RMB 387,900.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108674949","content_text":"EV Stocks dipped in Monday morning trading.Tesla,Nio,Xpeng Motors and Li Auto fell between 2% and 3%.\n\nChina has vowed to consolidate the country’s electric vehicle industry after a decade-long nurturing of the sector led to the emergence of too many players, some of which are barely viable.\n“Looking forward, EV companies should grow bigger and stronger. We have too many EV firms on the market right now,” Xiao Yaqing, the minister for industry and information technology, said at a press conference in Beijing on Monday.\n“The firms are mostly small and scattered,” he said. “The role of the market should be fully utilized and we encourage merger and restructuring efforts in the EV sector to further increase market concentration.”\nShares of Chinese electric-vehicle makers fell Monday.Xpeng Inc. declined 2.3% in Hong Kong trading, and Li Auto Inc. dropped 1.4%. On mainland exchanges,BYD Co. slid 1.8% and BAIC BluePark New Energy Technology Co. slumped 4.6%.\nChina, which built its electric-car industry into the world’s biggest, is putting a new focus on consolidating the ranks of EV makers which has ballooned to about 300. The government is drafting measures to rein in overcapacity in the sector and channel resources to a number of key production hubs, Bloomberg News reported last week, citing people familiar with the matter.\nRegulators are considering setting a minimum production capacity utilization rate for the industry, and provinces that aren’t meeting it won’t be allowed to approve new projects until surplus capacity comes online, Bloomberg reported.\nTesla is competitive in China, but a consolidated domestic sector could pose a new challenge for the high-profile electric vehicle company.\nTesla announced that it is going to increase the price of its Model Y Performance car in China by $1,552. According to the report announced on the Chinese microblogging website Weibo, the new price of Model Y will be RMB 387,900.","news_type":1},"isVote":1,"tweetType":1,"viewCount":439,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817490148,"gmtCreate":1630978676084,"gmtModify":1676530432558,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"So the conclusion is rotate the funds from growth stocks to value, right?","listText":"So the conclusion is rotate the funds from growth stocks to value, right?","text":"So the conclusion is rotate the funds from growth stocks to value, right?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/817490148","repostId":"1186375251","repostType":4,"repost":{"id":"1186375251","pubTimestamp":1630909435,"share":"https://ttm.financial/m/news/1186375251?lang=&edition=fundamental","pubTime":"2021-09-06 14:23","market":"us","language":"en","title":"3 Golden Rules On How To Invest At All-Time Highs","url":"https://stock-news.laohu8.com/highlight/detail?id=1186375251","media":"seekingalpha","summary":"Summary\n\nMarkets continue to reach new all-time highs each week and have not seen a notable correcti","content":"<p><b>Summary</b></p>\n<ul>\n <li>Markets continue to reach new all-time highs each week and have not seen a notable correction in over 200 trading days.</li>\n <li>As markets are rallying, many investors are starting to rest on their laurels while investment decisions at all-time highs are actually more important than ever.</li>\n <li>What should you be aware of in today's market? Should you sell out at these overvalued prices or can you still generate great returns by buying today?</li>\n <li>In this article, I will share my three golden rules on how to invest at all-time highs like today. This information will be very valuable for your future wealth generation in the market.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f5f0c9f1aacfbc6d8c78d0e84da5fc9\" tg-width=\"1536\" tg-height=\"878\" width=\"100%\" height=\"auto\"><span>phive2015/iStock via Getty Images</span></p>\n<p>The stock market has been on a rampage in 2021. At the end of August, the S&amp;P 500 index (SPY) gained 20.4% year-to-date. Interestingly, the index has been trading in a very tight upward range and has not seen a 5% correction for 208 trading days. While most investors don't see this as an anomaly, it actually is. Both events have only occurred 7 times before in stock market history. We are clearly living in abnormal times.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c58ccc72065c84083443d6be7f03482a\" tg-width=\"640\" tg-height=\"322\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities with Tradingview</span></p>\n<p>Each day it is important to think thoroughly about the investment decisions you make. Above all, all purchases or sales will impact your future wealth accumulation in the market.</p>\n<p>However, during extreme rallies like today it is twice as important to reflect on your investment decisions. Ask that to investors who took high risks during the dot-com bubble or panic sold during the Covid-19 crash. That undoubtedly had an immense impact on their long-term returns.</p>\n<p>The importance of investment decisions today for your long-term returns is why I chose to write about my three golden rules on how to invest at all-time highs. How should you approach today's market and what should you be aware of? Should you sell out at these overvalued prices and wait for a correction to take place or can you still generate great returns when buying at these levels? The answers to these one-million-dollar questions will be provided in this article.</p>\n<p><b>1. Don't get caught by greediness</b></p>\n<p>Let's start off with the most important rule. Avoid greediness.</p>\n<p>According to JPMorgan, over the past 20 years, the average investor reached an annual return of only 2.9%. As such, they significantly underperformed the general market as the S&amp;P 500 yielded an annual 7.5% return during this time frame.</p>\n<p>The single most important reason for this retail investor underperformance? Emotional human behavior.</p>\n<p>The average investor is getting influenced heavily by media headlines, stock prices movements and behavior from other investors.</p>\n<p>Today, we reached an extremely bullish stock market environment. Last earnings season has been one of the greatest in stock market history. The S&amp;P 500 EPS rose by 94.5% YoY and 86.1% of its constituents beat analyst estimates.</p>\n<p>As a consequence of this bullish environment, analysts are significantly raising their estimates for the next quarters. They now expect EPS to rise sharply to $217.96 by the end of 2022, which is a significant recovery from the pre-pandemic high of $157.12. Such a recovery looks to be optimistic as it took 7-12 years in the past economic cycles to achieve this:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1accc921d16b11ec13ed94686b9cfe75\" tg-width=\"640\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities based on S&amp;P Global data; adjusted EPS is used</span></p>\n<p>Will earnings really continue this very strong recovery over the coming quarters or are analysts perhaps getting too greedy with their assumptions?</p>\n<p>It wouldn't be the first time if they were too greedy. During the dot-com bubble for example, they were caught by their emotions as well. The '90s was an abnormally strong decade in terms of earnings growth for the S&amp;P 500. As such, analysts totally forgot that downward cycles exist as well. They increased their annual EPS growth guidance to a staggering 15% for the five years following 2000. According to them, this high growth rate justified the record P/E multiples stocks were trading at and many investors got tricked into that story.</p>\n<p>What happened afterwards? The economy didn't boom, it fell into a recession which took 3 years to recover from. Earnings in 2003 were almost 50% lower than what analysts had been predicting in 2000.</p>\n<p>As markets were priced to analyst expectations instead of taking into account a possible downturn, the S&amp;P 500 crashed and took 7 years to recover.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0081f4a9c3ee43b20684f113cb04ef9c\" tg-width=\"640\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities based on S&amp;P Global data and Yardeni; adjusted EPS is used</span></p>\n<p>Let's get back to today... The P/E of the S&amp;P 500 currently stands at 25.4x, which is extremely high compared to historical levels. This gets justified by the common belief that earnings will continue rising significantly. As such, the ratio would fall to an acceptable 20.7x by the end of 2022.</p>\n<p>Now ask yourself how likely it is that earnings growth will continue to grow at higher levels than the historical average over the coming quarters.</p>\n<p>Interest rates are already at 0%. The money printer is running out of paper. Federal debt levels are hitting their ceilings. Pent-up demand and stimuli cheques already led to record-high consumer spending over the past quarters.</p>\n<p>Maybe, just maybe, analysts are being too greedy with their assumptions? Maybe the recent economic recovery is unsustainable and set to cool down? Maybe my assumptions (grey line) are much more likely than what the market is predicting (red line)? If so, the market is trading at a fwd 2022 P/E of 23.6x, which is really expensive.</p>\n<p>I'm not sure this will happen, nobody is. But it sure as hell is a probability.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f61310c3c851b181ceb1fb3cc8862fdb\" tg-width=\"640\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities based on S&amp;P Global data and Yardeni; adjusted EPS is used</span></p>\n<p>This greediness also gets reflected in the charts. As you can see in the chart below, a bull market can be split into four cycles. Strong growth, bear trap, media attention and greed.</p>\n<p>Interestingly, the 2013-2021 bull market is playing out almost identically as the 1994-2000 bull market. At this moment, the Nasdaq Index (QQQ) looks to be ready to start the last extreme greed phase. The media is approaching the recent rally as \"the new normal\" and investors are FOMO buying heavily because stocks \"can only go up\". As such, it is likely that the Nasdaq will rise close to $20,000 in the last months of 2021.</p>\n<p>As a long-term investor, it is extremely important to understand these dynamics. You will probably feel the urge to go all-in in risky assets as well. However, getting greedy during this phase could be a major threat for your long term returns as it will likely be followed by a major bear market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c783bf0cff4c410846a27c2dc8c180b1\" tg-width=\"640\" tg-height=\"499\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities with Tradingview</span></p>\n<p>Human behavior makes it extremely challenging to not get distracted by market sentiment. If you can keep an objective view on markets, it will benefit your returns drastically.</p>\n<p>2. Keep investing, there are always opportunities</p>\n<p>In short, rule #1 says that your decisions should never be led by emotions and that you should keep focusing on underlying fundamentals. As the market is getting greedy today and valuations reach extreme levels it implies that you should start selling stocks and hold a lot of cash, right?</p>\n<p>Not really... You know, a wise man once said the following:</p>\n<blockquote>\n <b>It's a market of stocks, not a stock market.</b>\n</blockquote>\n<p>I'm not entirely sure who came up with it. But it must be a wise man, for sure.</p>\n<p>What does it mean? Look, many retail investors buy/sell stocks based on how the outlook for the general market looks like. If they don't trust the markets, they will be reluctant to invest, no matter what.</p>\n<p>That's not a great way of looking at markets. There are almost 4,000 stocks available and there will always be interesting investment opportunities to generate great returns, no matter how the market evolves.</p>\n<p>In a generally overvalued market it gets increasingly challenging to find undervalued stocks, but certainly not impossible. Ask Warren Buffett. In 2000, the most overvalued stock market in history, his investment vehicle Berkshire Hathaway (BRK.A) (BRK.B) kept buying high-quality, undervalued assets. His dedication paid off with an impressive return of 47% five years after the dot-com peak compared to -39% for the Nasdaq index.</p>\n<p>The Russell 2000 (IWM), an index reflecting US small caps, was very attractive during the dot-com bubble as well, trading at a P/E of 16x (vs 24x for large caps) going into 2000. Those who invested in this undervalued asset class during the bubble also generated very solid returns. Those who were able to pick out the greatest small caps were a lot happier than those who got tricked into overhyped tech stocks, I can imagine.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c713a296e819a255b3be8ac6e504033d\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>So what should you do today? I would suggest re-evaluating all your portfolio holdings. Weigh their valuation compared to earnings 3 years from now, when Covid-19 disruptions (stimuli, pent-up demand, etc.) are gone. Be conservative with your assumptions. If a stock is significantly overvalued compared to those assumptions, don't be greedy and sell out the position.</p>\n<p>A great example is Apple Inc. (AAPL), one of the most popular stocks this year. As a consequence of its very strong financials (revenue grew 36.4% last quarter), its P/E ratio more than doubled over the past two years to 30x. It is important to understand that its recent growth primarily accelerated due to unsustainable drivers such as the several rounds of stimuli cheques. Once this fades away, Apple's growth is likely to fall back to single digits (or might even go negative in the short term) and returns would be very weak going forward.</p>\n<p>Don't keep all that freed up capital in cash, especially in the current inflationary environment. There are still opportunities to re-invest that money. In my opinion, small caps are the most attractive asset class today just like they were in 2000. After its recent underperformance, the Russell 2000 (representing all US small caps) is trading at a P/E of 15.6x today. This is much lower than both the S&amp;P 500 Index and its historical average. There are plenty of small-cap opportunities out there which will generate great returns going forward.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f132a93975b3b7fef86aff21c0b49bb\" tg-width=\"640\" tg-height=\"250\" width=\"100%\" height=\"auto\"><span>Source: Yardeni</span></p>\n<p><b>3. Adopt a proven investment strategy to pick stocks</b></p>\n<p>Rule #1 and #2 look very good on paper, but are very hard to execute in reality. When push comes to shove, it's very tough to deny your emotions and to find interesting investment opportunities in an overvalued market.</p>\n<p>That's where #3 comes into play: adopt a proven investment strategy.</p>\n<p>With the upcoming challenges in the stock market, I believe it has never been as important as today to follow a pre-determined strategy on which you can rely during a highly uncertain market environment. If you use a strategy which worked well in the past, you'll feel great in each market environment.</p>\n<p>There are many strategies that could work for you, as long as you stick to it. We strongly believe that our under-appreciated strategy at Insider Opportunities will be very valuable in the coming years.</p>\n<p>To find attractive investment opportunities, we follow insider purchases each day. Insiders are the CFOs, CEOs, board members, etc. who know their business better than anyone else in the market. If they see a disconnection between the share price and the business fundamentals, they can purchase shares to generate profits. You can follow the purchases of this so-called \"smart money\" on a daily basis through SEC filings or websites like openinsider.com.</p>\n<p>We don't just follow up insider purchases. We created three algorithms based on more than a million of data points over the past decade to pick the greatest ones out of all insider purchases. As such, we stick to a pre-determined plan to only buy stocks that are attractive based on specific fundamentals, called \"golden picks\".</p>\n<p>It worked tremendously in the past. Our back-test shows that the strategy generated annualized returns of 47.2% over the past decade, tripling the S&amp;P 500 index. Only in 2011 it slightly underperformed the market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f05af9240a87a55641df0a7921ec0380\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities</span></p>\n<p></p>\n<p>We firmly believe that this revolutionary strategy will continue generating wealth for us in the stock market, regardless of how the market performs. Find yourself a strict, proven strategy like ours on which you can rely during the upcoming uncertainties.</p>\n<p><b>Conclusion: Do this at all-time highs</b></p>\n<p>Most stock market investors are resting on their laurels when all-time highs are being reached. Above all, nothing can go wrong in such a bullish market, right?</p>\n<p>No, that's not how it works. Markets evolve in cycles and those who don't acknowledge the importance of adapting to these cycles will be struck at weak long-term returns.</p>\n<p>How should you approach today's all-time highs to keep generating wealth going forward? Here are my three golden rules:</p>\n<ol>\n <li><b>Don't get greedy.</b>As a consequence of emotional behavior, you will want to take higher risks when markets are rallying. Never follow these emotions and always keep focused on the fundamentals.</li>\n <li><b>Keep being invested.</b>Don't get reluctant to invest in stocks just because markets are getting overvalued. Acknowledge that it's a market of stocks, not a stock market. There are always great opportunities in each market environment. Today, they are mostly available in under-the-radar small caps.</li>\n <li><b>Adopt a proven strategy.</b>Investing is not easy, especially when things are starting to move southwards. Adopting a strict, proven investment strategy can make life much easier and improve returns significantly.</li>\n</ol>","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 Golden Rules On How To Invest At All-Time Highs</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 Golden Rules On How To Invest At All-Time Highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-06 14:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453541-3-golden-rules-on-how-to-invest-at-all-time-highs><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nMarkets continue to reach new all-time highs each week and have not seen a notable correction in over 200 trading days.\nAs markets are rallying, many investors are starting to rest on their ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453541-3-golden-rules-on-how-to-invest-at-all-time-highs\">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://seekingalpha.com/article/4453541-3-golden-rules-on-how-to-invest-at-all-time-highs","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186375251","content_text":"Summary\n\nMarkets continue to reach new all-time highs each week and have not seen a notable correction in over 200 trading days.\nAs markets are rallying, many investors are starting to rest on their laurels while investment decisions at all-time highs are actually more important than ever.\nWhat should you be aware of in today's market? Should you sell out at these overvalued prices or can you still generate great returns by buying today?\nIn this article, I will share my three golden rules on how to invest at all-time highs like today. This information will be very valuable for your future wealth generation in the market.\n\nphive2015/iStock via Getty Images\nThe stock market has been on a rampage in 2021. At the end of August, the S&P 500 index (SPY) gained 20.4% year-to-date. Interestingly, the index has been trading in a very tight upward range and has not seen a 5% correction for 208 trading days. While most investors don't see this as an anomaly, it actually is. Both events have only occurred 7 times before in stock market history. We are clearly living in abnormal times.\nSource: Insider Opportunities with Tradingview\nEach day it is important to think thoroughly about the investment decisions you make. Above all, all purchases or sales will impact your future wealth accumulation in the market.\nHowever, during extreme rallies like today it is twice as important to reflect on your investment decisions. Ask that to investors who took high risks during the dot-com bubble or panic sold during the Covid-19 crash. That undoubtedly had an immense impact on their long-term returns.\nThe importance of investment decisions today for your long-term returns is why I chose to write about my three golden rules on how to invest at all-time highs. How should you approach today's market and what should you be aware of? Should you sell out at these overvalued prices and wait for a correction to take place or can you still generate great returns when buying at these levels? The answers to these one-million-dollar questions will be provided in this article.\n1. Don't get caught by greediness\nLet's start off with the most important rule. Avoid greediness.\nAccording to JPMorgan, over the past 20 years, the average investor reached an annual return of only 2.9%. As such, they significantly underperformed the general market as the S&P 500 yielded an annual 7.5% return during this time frame.\nThe single most important reason for this retail investor underperformance? Emotional human behavior.\nThe average investor is getting influenced heavily by media headlines, stock prices movements and behavior from other investors.\nToday, we reached an extremely bullish stock market environment. Last earnings season has been one of the greatest in stock market history. The S&P 500 EPS rose by 94.5% YoY and 86.1% of its constituents beat analyst estimates.\nAs a consequence of this bullish environment, analysts are significantly raising their estimates for the next quarters. They now expect EPS to rise sharply to $217.96 by the end of 2022, which is a significant recovery from the pre-pandemic high of $157.12. Such a recovery looks to be optimistic as it took 7-12 years in the past economic cycles to achieve this:\nSource: Insider Opportunities based on S&P Global data; adjusted EPS is used\nWill earnings really continue this very strong recovery over the coming quarters or are analysts perhaps getting too greedy with their assumptions?\nIt wouldn't be the first time if they were too greedy. During the dot-com bubble for example, they were caught by their emotions as well. The '90s was an abnormally strong decade in terms of earnings growth for the S&P 500. As such, analysts totally forgot that downward cycles exist as well. They increased their annual EPS growth guidance to a staggering 15% for the five years following 2000. According to them, this high growth rate justified the record P/E multiples stocks were trading at and many investors got tricked into that story.\nWhat happened afterwards? The economy didn't boom, it fell into a recession which took 3 years to recover from. Earnings in 2003 were almost 50% lower than what analysts had been predicting in 2000.\nAs markets were priced to analyst expectations instead of taking into account a possible downturn, the S&P 500 crashed and took 7 years to recover.\nSource: Insider Opportunities based on S&P Global data and Yardeni; adjusted EPS is used\nLet's get back to today... The P/E of the S&P 500 currently stands at 25.4x, which is extremely high compared to historical levels. This gets justified by the common belief that earnings will continue rising significantly. As such, the ratio would fall to an acceptable 20.7x by the end of 2022.\nNow ask yourself how likely it is that earnings growth will continue to grow at higher levels than the historical average over the coming quarters.\nInterest rates are already at 0%. The money printer is running out of paper. Federal debt levels are hitting their ceilings. Pent-up demand and stimuli cheques already led to record-high consumer spending over the past quarters.\nMaybe, just maybe, analysts are being too greedy with their assumptions? Maybe the recent economic recovery is unsustainable and set to cool down? Maybe my assumptions (grey line) are much more likely than what the market is predicting (red line)? If so, the market is trading at a fwd 2022 P/E of 23.6x, which is really expensive.\nI'm not sure this will happen, nobody is. But it sure as hell is a probability.\nSource: Insider Opportunities based on S&P Global data and Yardeni; adjusted EPS is used\nThis greediness also gets reflected in the charts. As you can see in the chart below, a bull market can be split into four cycles. Strong growth, bear trap, media attention and greed.\nInterestingly, the 2013-2021 bull market is playing out almost identically as the 1994-2000 bull market. At this moment, the Nasdaq Index (QQQ) looks to be ready to start the last extreme greed phase. The media is approaching the recent rally as \"the new normal\" and investors are FOMO buying heavily because stocks \"can only go up\". As such, it is likely that the Nasdaq will rise close to $20,000 in the last months of 2021.\nAs a long-term investor, it is extremely important to understand these dynamics. You will probably feel the urge to go all-in in risky assets as well. However, getting greedy during this phase could be a major threat for your long term returns as it will likely be followed by a major bear market.\nSource: Insider Opportunities with Tradingview\nHuman behavior makes it extremely challenging to not get distracted by market sentiment. If you can keep an objective view on markets, it will benefit your returns drastically.\n2. Keep investing, there are always opportunities\nIn short, rule #1 says that your decisions should never be led by emotions and that you should keep focusing on underlying fundamentals. As the market is getting greedy today and valuations reach extreme levels it implies that you should start selling stocks and hold a lot of cash, right?\nNot really... You know, a wise man once said the following:\n\nIt's a market of stocks, not a stock market.\n\nI'm not entirely sure who came up with it. But it must be a wise man, for sure.\nWhat does it mean? Look, many retail investors buy/sell stocks based on how the outlook for the general market looks like. If they don't trust the markets, they will be reluctant to invest, no matter what.\nThat's not a great way of looking at markets. There are almost 4,000 stocks available and there will always be interesting investment opportunities to generate great returns, no matter how the market evolves.\nIn a generally overvalued market it gets increasingly challenging to find undervalued stocks, but certainly not impossible. Ask Warren Buffett. In 2000, the most overvalued stock market in history, his investment vehicle Berkshire Hathaway (BRK.A) (BRK.B) kept buying high-quality, undervalued assets. His dedication paid off with an impressive return of 47% five years after the dot-com peak compared to -39% for the Nasdaq index.\nThe Russell 2000 (IWM), an index reflecting US small caps, was very attractive during the dot-com bubble as well, trading at a P/E of 16x (vs 24x for large caps) going into 2000. Those who invested in this undervalued asset class during the bubble also generated very solid returns. Those who were able to pick out the greatest small caps were a lot happier than those who got tricked into overhyped tech stocks, I can imagine.\nData by YCharts\nSo what should you do today? I would suggest re-evaluating all your portfolio holdings. Weigh their valuation compared to earnings 3 years from now, when Covid-19 disruptions (stimuli, pent-up demand, etc.) are gone. Be conservative with your assumptions. If a stock is significantly overvalued compared to those assumptions, don't be greedy and sell out the position.\nA great example is Apple Inc. (AAPL), one of the most popular stocks this year. As a consequence of its very strong financials (revenue grew 36.4% last quarter), its P/E ratio more than doubled over the past two years to 30x. It is important to understand that its recent growth primarily accelerated due to unsustainable drivers such as the several rounds of stimuli cheques. Once this fades away, Apple's growth is likely to fall back to single digits (or might even go negative in the short term) and returns would be very weak going forward.\nDon't keep all that freed up capital in cash, especially in the current inflationary environment. There are still opportunities to re-invest that money. In my opinion, small caps are the most attractive asset class today just like they were in 2000. After its recent underperformance, the Russell 2000 (representing all US small caps) is trading at a P/E of 15.6x today. This is much lower than both the S&P 500 Index and its historical average. There are plenty of small-cap opportunities out there which will generate great returns going forward.\nSource: Yardeni\n3. Adopt a proven investment strategy to pick stocks\nRule #1 and #2 look very good on paper, but are very hard to execute in reality. When push comes to shove, it's very tough to deny your emotions and to find interesting investment opportunities in an overvalued market.\nThat's where #3 comes into play: adopt a proven investment strategy.\nWith the upcoming challenges in the stock market, I believe it has never been as important as today to follow a pre-determined strategy on which you can rely during a highly uncertain market environment. If you use a strategy which worked well in the past, you'll feel great in each market environment.\nThere are many strategies that could work for you, as long as you stick to it. We strongly believe that our under-appreciated strategy at Insider Opportunities will be very valuable in the coming years.\nTo find attractive investment opportunities, we follow insider purchases each day. Insiders are the CFOs, CEOs, board members, etc. who know their business better than anyone else in the market. If they see a disconnection between the share price and the business fundamentals, they can purchase shares to generate profits. You can follow the purchases of this so-called \"smart money\" on a daily basis through SEC filings or websites like openinsider.com.\nWe don't just follow up insider purchases. We created three algorithms based on more than a million of data points over the past decade to pick the greatest ones out of all insider purchases. As such, we stick to a pre-determined plan to only buy stocks that are attractive based on specific fundamentals, called \"golden picks\".\nIt worked tremendously in the past. Our back-test shows that the strategy generated annualized returns of 47.2% over the past decade, tripling the S&P 500 index. Only in 2011 it slightly underperformed the market.\nSource: Insider Opportunities\n\nWe firmly believe that this revolutionary strategy will continue generating wealth for us in the stock market, regardless of how the market performs. Find yourself a strict, proven strategy like ours on which you can rely during the upcoming uncertainties.\nConclusion: Do this at all-time highs\nMost stock market investors are resting on their laurels when all-time highs are being reached. Above all, nothing can go wrong in such a bullish market, right?\nNo, that's not how it works. Markets evolve in cycles and those who don't acknowledge the importance of adapting to these cycles will be struck at weak long-term returns.\nHow should you approach today's all-time highs to keep generating wealth going forward? Here are my three golden rules:\n\nDon't get greedy.As a consequence of emotional behavior, you will want to take higher risks when markets are rallying. Never follow these emotions and always keep focused on the fundamentals.\nKeep being invested.Don't get reluctant to invest in stocks just because markets are getting overvalued. Acknowledge that it's a market of stocks, not a stock market. There are always great opportunities in each market environment. Today, they are mostly available in under-the-radar small caps.\nAdopt a proven strategy.Investing is not easy, especially when things are starting to move southwards. Adopting a strict, proven investment strategy can make life much easier and improve returns significantly.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815358133,"gmtCreate":1630648510622,"gmtModify":1676530365705,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Time to load up&nbsp;","listText":"Time to load up&nbsp;","text":"Time to load up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815358133","repostId":"1159580926","repostType":4,"isVote":1,"tweetType":1,"viewCount":243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815353185,"gmtCreate":1630648190747,"gmtModify":1676530365651,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"It’s easy to advocate&nbsp;picking high quality stocks with solid profits &amp; dividends but it’ll be even better&nbsp;if you may list down a number of them which tick the boxes","listText":"It’s easy to advocate&nbsp;picking high quality stocks with solid profits &amp; dividends but it’ll be even better&nbsp;if you may list down a number of them which tick the boxes","text":"It’s easy to advocate picking high quality stocks with solid profits & dividends but it’ll be even better if you may list down a number of them which tick the boxes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815353185","repostId":"1115112299","repostType":4,"repost":{"id":"1115112299","pubTimestamp":1630641559,"share":"https://ttm.financial/m/news/1115112299?lang=&edition=fundamental","pubTime":"2021-09-03 11:59","market":"us","language":"en","title":"What Will Happen When Trillions In Stimulus Run Out In 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=1115112299","media":"seekingalpha","summary":"Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in","content":"<p><b>Summary</b></p>\n<ul>\n <li>The US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.</li>\n <li>With expanded unemployment set to end, student loan &amp; mortgage forbearance to end, and a possible corporate tax rate hike on the horizon, it's possible 2022 earnings estimates for stocks are simply too high.</li>\n <li>In light of this, the broad stock market faces an unattractive risk-reward proposition.</li>\n <li>I break down the possibilities and game plan with expert value/dividend investor Sam Kovacs.</li>\n</ul>\n<p><b>Introduction</b></p>\n<p><i>Logan–</i>The United States government has turned to an unprecedented amount of fiscal and monetary stimulus to help the economy through the COVID-19 pandemic. Notable examples include multiple rounds of stimulus checks, the student loan pause, mortgage forbearance/eviction moratorium, PPP, and enhanced unemployment benefits. So far, this effort seems to have been successful, although critics point out that it has resulted in significant increases in inflation. However, the political and economic reality is that the US can't run $3 trillion deficits forever, at least without everyone implicitly paying for it via higher consumer prices compared to their earnings.</p>\n<p>The weight of theevidence suggeststhat prices are rising faster than wages. In turn, the government has stepped in to fill this gap with stimulus payments, but the trillion-dollar question is what happens when the economy has to run on its own productivity–rather than on temporary transfer payments. For 2021, thanks to pent-up demand and stimulus, S&amp;P 500 components are expected to smash the record for the highest amount ever earned in a year (somewhere between $200 and $205 per share for 2021, vs. the previous record of $163 in 2019). Wall Street analysts additionally expect the S&amp;P 500 to earn~$215 per share in 2022, which would be yet another record. When you pull numbers forproductivity and economic output, the picture isn't as great, which helps explain why there are so many shortages of goods and services right now. If you feel that the change in nominal economic output is more indicative of what corporations can earn over the medium term (taking away the impact of consumers spending temporary transfer payments), you get an earnings number for the S&amp;P 500 closer to $180, which is about 15 percent lower than Wall Street is currently expecting.</p>\n<p>Putting further pressure on earnings is the potential corporate tax hike from 21 percent to 25 percent, which will decrease S&amp;P 500 earnings by 5 percent, all else being equal. Political betting markets show that this has a roughly50/50 chance of becoming lawat the moment. With many investors making easy money piling into low-conviction, high momentum names, the consequences of unwinding stimulus could be a shock to their portfolio balances. Helping me make sense of the stimulus unwind is fellow<i>Seeking Alpha</i>authorSam Kovacs.Although living halfway across the world from me here in suburban Texas, Sam and I think eerily alike about the markets, gravitating to high-quality stocks with solid earnings and dividends.</p>\n<p><i>Sam–</i>Within the first couple of months of the Fed’s reaction to the pandemic, I was concerned that they would be placing themselves between a rock and a hard place. I would not have wanted to be in Powell’s shoes, but then again there aren’t many government jobs I’d consider taking. Striking a balance between pulling stimulus too early and risking runaway inflation is no easy task. The government has looked to prior crashes and decided that risking inflation was the way to go.</p>\n<p>Keep telling the people that it is “transitory” and surely it will be. But anyone who has taken Econ 101 knows that inflation feeds on itself. At first, companies are reactionary, but then they become proactive in pricing measures. Here are a few snippets.</p>\n<p>From Hormel's (HRL) latestcall:</p>\n<p><i>We have taken numerous pricing actions across the portfolio to protect profitability. The actions will take place early in the third quarter with additional pricing actions likely.</i></p>\n<p>From Conagra's (CAG) latestcall:</p>\n<p><i>And the short answer is yes. In fact, we began implementing pricing actions on some of our products in the quarter related to the initial inflation we experienced. The very early read on the data from those actions is that our elasticities look good so far. And we have more pricing coming.</i></p>\n<p>There will be no shortage of inflation in food in upcoming quarters. Oil price still has a couple of quarters of weak comparables which continue to contribute to higher headline inflation rates.</p>\n<p>Food &amp; transportation, along with housing are the major costs of US households. For1/6thof adults, you can throw in student loans as well. US consumers have been able to absorb the inflation on the back of various stimulus efforts.</p>\n<p>But the stimulus can’t last forever. Part of it is being extended as Delta is slowing (not killing) the recovery. What happens when the different forms of stimulus fade? That’s what we’re going to look at in the rest of the article.</p>\n<p>The Eviction/Foreclosure Moratorium</p>\n<p><i>Logan–</i>Foreclosures have started again, and the Supreme Court recentlystruck downthe eviction moratorium imposed by the CDC. By my last count, there are about1.5 million householdswho are in forbearance programs at the moment (i.e. not paying their mortgages), against somewhere in the ballpark of 50 million mortgages in the US. Foreclosure is a process, not an event, and the most common outcome is that people get behind on their payments, try to work with the bank for 6-12 months, and then eventually sell, collect their equity, and move somewhere cheaper. The problem in 2008 was that borrowers had negative equity on their mortgages, so it short-circuited this process. This isn't the case now–I don't see a systematic risk to the economy from foreclosures. Around 6-7 million houses in the US are bought and sold in a typical year, meaning in a vacuum, most people who are behind could sell over a 6-12 month period, and it would be a win-win for those struggling with the shortage of houses to buy and those who can't make payments on the ones they own. The Fed taper might complicate this. If mortgage rates go back up to the ~4 percent they've averaged over the last 10 years at the same time people are unloading houses they've been in forbearance on, prices are going to come down more.</p>\n<p>Evictions are messier–there are millions of people not paying rent and living off the extra money. When they have to start paying rent again somewhere else, their household budgets are going to dramatically shrink. Roughly 2-3 percent of American households are significantly behind on rent, so I would expect a lot of both formal and informal (cash for keys) evictions. This has to negatively affect consumer spending, and earnings estimates that ignore the unwind of stimulus are not properly accounting for it.</p>\n<p><i>Sam–</i>The risk here is not so much on the real estate market, as Logan correctly summarized, but rather the knock-on effects on consumption.</p>\n<p>The end of the federal eviction moratorium is a boon for apartment REITs which can resume collecting rent. However, that doesn’t mean investors should pile into residential REITs. have gone from deeply undervalued back to historically overvalued, as the below MAD Chart for Essex Property (ESS) shows. We previously suggested investors sell ESS.</p>\n<p><img src=\"https://static.tigerbbs.com/dc5c631a8b25f6a52735e699fbc69b29\" tg-width=\"640\" tg-height=\"293\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source:Dividend Freedom Tribe</i></p>\n<p>Looking at the other residential REITs on the block, the same picture emerges. AvalonBay Communities (AVB) also is historically overvalued.</p>\n<p><img src=\"https://static.tigerbbs.com/e17980a72bfba653b02553382a920419\" tg-width=\"640\" tg-height=\"315\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>None seem more overvalued relative to their historical normal range of prices than Camden Property Trust (CPT) which could easily come down by 1/3rdon a change in sentiment.</p>\n<p><img src=\"https://static.tigerbbs.com/136a7707c3add17401e4dd4047278e14\" tg-width=\"640\" tg-height=\"303\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>I believe that this trade has passed. We bought ESS about a year ago, and have been selling it throughout the past few months.</p>\n<p>Taking profits now in these industries makes sense: “buy the rumor/sell the news”.</p>\n<p>If we’re looking ahead, we’re seeing one lever which will pressure consumption for a certain part of the population.</p>\n<p><b>Student Loan Forbearance</b></p>\n<p><i>Logan–</i>The Biden Administration extended the student loan pause until January 31, 2022. 1 in 6 adults in the US has student loans, with an average balance of ~$40,000. Most borrowers are under 30, a group that spends a higher percentage of their income than, say a 50-year old saving for retirement. Hit 1 in 6 American adults with an average$400 per month payment, paid with mostly post-tax dollars, and that's like stimulus in reverse. Anecdotally, almost no one I know who has student loans is currently paying them. The extra money they're getting from not paying loans is generally either being spent on consumption, invested in cryptocurrency, or in meme stocks like GameStop (GME). This is a decent threat to consumer spending, and there isn't an easy way out. The left wing of the Democratic Party in the US wants to cancel most or all student loans, but the main problem with this is that much of the debt is held by middle and upper-middle-class professionals, which would create a moral hazard as well as redistribute wealth from people lower on the socioeconomic ladder (for example, people who work in trades and pay their income taxes) to those of higher social class (for example, indebted white-collar college graduates). We're talking$1.7+ trillion in US student loansthat are generally not being serviced by those who owe it for this 21 month period. When those kick in again, consumer spending is not going to be higher than it is now. 2022 earnings estimates are mostly blind to this fact.</p>\n<p><i>Sam–</i>When Logan and I initially discussed this article, this seemed to be the easiest form of stimulus for the government to keep giving. Since most of the loans are federal, a pause on the payments doesn’t explicitly hurt anyone enough to complain. And since the handouts are not direct, critics aren’t as vocal as they are with stimulus checks. The money which has been put into various investments, be it stock or crypto, will come out when they have to start servicing debt again. Whether this has enough of an impact to move markets is questionable, but the retail meme stocks could finally have their day of reckoning as a large portion of the population has to resume payments. The aftermath of removing the pause on debt servicing will be harsh for an important part of the population. At least you’ll still be able to watch a movie at AMC Theater (AMC).</p>\n<p><b>Enhanced Unemployment &amp; Stimulus Checks</b></p>\n<p>Logan- Enhanced unemployment runs out on September 6, and there are 11 million people who won't be getting it after that week. This is $3.3 billion per week that the Federal government is dripping out to unemployed persons, which in turn is a lot less than it was 12 months ago. When it's gone, it's yet another piece of the puzzle that will rein in consumer spending. Stimulus checks were another source of income for many Americans over the last 18 months. A family of 4 making the median income would have seen a stimulus check in March of $5,600, in addition to the prior payments under the Trump Administration. These aren't going to be going out anymore, and for middle-income Americans, this means that they won't be able to spend as much money as they have before. The expanded child tax credit may make up for this and is probably a more efficient means of getting money out, but it expires also in its current form in December.</p>\n<p><i>Sam–</i>Enhanced Unemployment is running out in a few days, we’re likely to see many of the 8 million Americans who are looking for a job finally find one amongthe 10 million job openings. As of the time of writing, job data is to be posted in the next few hours. Strong job numbers could kick off a Fed taper sooner than expected.</p>\n<p><b>Conclusion: What Is Yet to Come?</b></p>\n<p><i>Logan–</i>High profile earnings misses from the likes of Amazon (AMZN), Zoom Video (ZM), and Peloton (PTON) suggest that at least on a micro level, analysts assumed that good times would last forever for companies that benefitted from temporary changes resulting from the pandemic. Whether this is true on a macro level is a strong possibility, and depending on how the rest of earnings results come in for the rest of the year, it may end up becoming a reality. While it isn't set in stone that the market should necessarily go down significantly in price because of this, it's hard to deny that the risk-reward tradeoff for the market has deteriorated over the past 6-12 months. Now is a good time to dial back risk, if at all possible. A good defense, in both of our views, is to invest in high-quality companies rather than popular high-momentum stocks with middling fundamentals, and to take a long-term perspective.</p>\n<p><i>Sam–</i>The inflation train has left the station. Powell believes it is transitory, I believe that it might be partially transitory, but the abundance of fiscal stimulus has kicked up a cycle of inflation which will be above 2% for quite some time. The Covid delta variant has softened some economic indicators like eating out in restaurants or travel, but as the country’s case count is already peaking, the economy is set to continue heating up.</p>\n<p>This will lead to a taper. Higher rates, or even the expectation of higher rates, will lead to a change in discount rates, which is a fancy way to say future profits are worthless.</p>\n<p>Investors want to take a hard look at their portfolios and ask whether they have positions which are overvalued beyond reason?</p>\n<p>No need to look at obscure parts of the market, this is playing out in the S&amp;P 500 (SPY).</p>\n<p>For instance, I cannot fathom how a stock like Intuit (INTU) currently trades at 16x sales? Even on its lofty usual measure of 8-9x sales, this is unusually high. Compare it to the stock's historical dividend, and the reading is off the wall.</p>\n<p>Investors want to focus on companies with strong earnings power, large-scale operations, which are trading at relatively cheap valuations.</p>\n<p>Among those that come to mind in the top 100 stocks are Amgen (AMGN) which currently yields over 3%.</p>\n<p><img src=\"https://static.tigerbbs.com/cd53f68bc9f02f82e05458098625b0a7\" tg-width=\"640\" tg-height=\"297\" width=\"100%\" height=\"auto\"></p>\n<p><i>Source: Dividend Freedom Tribe</i></p>\n<p>Philip Morris International (PM), Broadcom (AVGO), and Morgan Stanley (MS.PK) are also undervalued relative to their historical valuations.</p>\n<p>In such an environment, focus on quality is a must. Focus on value is a close second. We’re looking to buy the highest quality assets with growth prospects at a decent price. We’re very cautious that stimulus unwinding will hit consumption which will hit earning results. Big misses from overvalued names spells trouble. The responsible thing to do is to scale out of stocks when they become overvalued.</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>What Will Happen When Trillions In Stimulus Run Out In 2022?</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\">\nWhat Will Happen When Trillions In Stimulus Run Out In 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-03 11:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.\nWith expanded unemployment set to end, student loan & mortgage forbearance to end, and a ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022\">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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4453272-what-will-happen-when-trillions-in-stimulus-runs-out-in-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115112299","content_text":"Summary\n\nThe US economy and stock market have benefitted from an unprecedented amount of stimulus in 2021.\nWith expanded unemployment set to end, student loan & mortgage forbearance to end, and a possible corporate tax rate hike on the horizon, it's possible 2022 earnings estimates for stocks are simply too high.\nIn light of this, the broad stock market faces an unattractive risk-reward proposition.\nI break down the possibilities and game plan with expert value/dividend investor Sam Kovacs.\n\nIntroduction\nLogan–The United States government has turned to an unprecedented amount of fiscal and monetary stimulus to help the economy through the COVID-19 pandemic. Notable examples include multiple rounds of stimulus checks, the student loan pause, mortgage forbearance/eviction moratorium, PPP, and enhanced unemployment benefits. So far, this effort seems to have been successful, although critics point out that it has resulted in significant increases in inflation. However, the political and economic reality is that the US can't run $3 trillion deficits forever, at least without everyone implicitly paying for it via higher consumer prices compared to their earnings.\nThe weight of theevidence suggeststhat prices are rising faster than wages. In turn, the government has stepped in to fill this gap with stimulus payments, but the trillion-dollar question is what happens when the economy has to run on its own productivity–rather than on temporary transfer payments. For 2021, thanks to pent-up demand and stimulus, S&P 500 components are expected to smash the record for the highest amount ever earned in a year (somewhere between $200 and $205 per share for 2021, vs. the previous record of $163 in 2019). Wall Street analysts additionally expect the S&P 500 to earn~$215 per share in 2022, which would be yet another record. When you pull numbers forproductivity and economic output, the picture isn't as great, which helps explain why there are so many shortages of goods and services right now. If you feel that the change in nominal economic output is more indicative of what corporations can earn over the medium term (taking away the impact of consumers spending temporary transfer payments), you get an earnings number for the S&P 500 closer to $180, which is about 15 percent lower than Wall Street is currently expecting.\nPutting further pressure on earnings is the potential corporate tax hike from 21 percent to 25 percent, which will decrease S&P 500 earnings by 5 percent, all else being equal. Political betting markets show that this has a roughly50/50 chance of becoming lawat the moment. With many investors making easy money piling into low-conviction, high momentum names, the consequences of unwinding stimulus could be a shock to their portfolio balances. Helping me make sense of the stimulus unwind is fellowSeeking AlphaauthorSam Kovacs.Although living halfway across the world from me here in suburban Texas, Sam and I think eerily alike about the markets, gravitating to high-quality stocks with solid earnings and dividends.\nSam–Within the first couple of months of the Fed’s reaction to the pandemic, I was concerned that they would be placing themselves between a rock and a hard place. I would not have wanted to be in Powell’s shoes, but then again there aren’t many government jobs I’d consider taking. Striking a balance between pulling stimulus too early and risking runaway inflation is no easy task. The government has looked to prior crashes and decided that risking inflation was the way to go.\nKeep telling the people that it is “transitory” and surely it will be. But anyone who has taken Econ 101 knows that inflation feeds on itself. At first, companies are reactionary, but then they become proactive in pricing measures. Here are a few snippets.\nFrom Hormel's (HRL) latestcall:\nWe have taken numerous pricing actions across the portfolio to protect profitability. The actions will take place early in the third quarter with additional pricing actions likely.\nFrom Conagra's (CAG) latestcall:\nAnd the short answer is yes. In fact, we began implementing pricing actions on some of our products in the quarter related to the initial inflation we experienced. The very early read on the data from those actions is that our elasticities look good so far. And we have more pricing coming.\nThere will be no shortage of inflation in food in upcoming quarters. Oil price still has a couple of quarters of weak comparables which continue to contribute to higher headline inflation rates.\nFood & transportation, along with housing are the major costs of US households. For1/6thof adults, you can throw in student loans as well. US consumers have been able to absorb the inflation on the back of various stimulus efforts.\nBut the stimulus can’t last forever. Part of it is being extended as Delta is slowing (not killing) the recovery. What happens when the different forms of stimulus fade? That’s what we’re going to look at in the rest of the article.\nThe Eviction/Foreclosure Moratorium\nLogan–Foreclosures have started again, and the Supreme Court recentlystruck downthe eviction moratorium imposed by the CDC. By my last count, there are about1.5 million householdswho are in forbearance programs at the moment (i.e. not paying their mortgages), against somewhere in the ballpark of 50 million mortgages in the US. Foreclosure is a process, not an event, and the most common outcome is that people get behind on their payments, try to work with the bank for 6-12 months, and then eventually sell, collect their equity, and move somewhere cheaper. The problem in 2008 was that borrowers had negative equity on their mortgages, so it short-circuited this process. This isn't the case now–I don't see a systematic risk to the economy from foreclosures. Around 6-7 million houses in the US are bought and sold in a typical year, meaning in a vacuum, most people who are behind could sell over a 6-12 month period, and it would be a win-win for those struggling with the shortage of houses to buy and those who can't make payments on the ones they own. The Fed taper might complicate this. If mortgage rates go back up to the ~4 percent they've averaged over the last 10 years at the same time people are unloading houses they've been in forbearance on, prices are going to come down more.\nEvictions are messier–there are millions of people not paying rent and living off the extra money. When they have to start paying rent again somewhere else, their household budgets are going to dramatically shrink. Roughly 2-3 percent of American households are significantly behind on rent, so I would expect a lot of both formal and informal (cash for keys) evictions. This has to negatively affect consumer spending, and earnings estimates that ignore the unwind of stimulus are not properly accounting for it.\nSam–The risk here is not so much on the real estate market, as Logan correctly summarized, but rather the knock-on effects on consumption.\nThe end of the federal eviction moratorium is a boon for apartment REITs which can resume collecting rent. However, that doesn’t mean investors should pile into residential REITs. have gone from deeply undervalued back to historically overvalued, as the below MAD Chart for Essex Property (ESS) shows. We previously suggested investors sell ESS.\n\nSource:Dividend Freedom Tribe\nLooking at the other residential REITs on the block, the same picture emerges. AvalonBay Communities (AVB) also is historically overvalued.\n\nSource: Dividend Freedom Tribe\nNone seem more overvalued relative to their historical normal range of prices than Camden Property Trust (CPT) which could easily come down by 1/3rdon a change in sentiment.\n\nSource: Dividend Freedom Tribe\nI believe that this trade has passed. We bought ESS about a year ago, and have been selling it throughout the past few months.\nTaking profits now in these industries makes sense: “buy the rumor/sell the news”.\nIf we’re looking ahead, we’re seeing one lever which will pressure consumption for a certain part of the population.\nStudent Loan Forbearance\nLogan–The Biden Administration extended the student loan pause until January 31, 2022. 1 in 6 adults in the US has student loans, with an average balance of ~$40,000. Most borrowers are under 30, a group that spends a higher percentage of their income than, say a 50-year old saving for retirement. Hit 1 in 6 American adults with an average$400 per month payment, paid with mostly post-tax dollars, and that's like stimulus in reverse. Anecdotally, almost no one I know who has student loans is currently paying them. The extra money they're getting from not paying loans is generally either being spent on consumption, invested in cryptocurrency, or in meme stocks like GameStop (GME). This is a decent threat to consumer spending, and there isn't an easy way out. The left wing of the Democratic Party in the US wants to cancel most or all student loans, but the main problem with this is that much of the debt is held by middle and upper-middle-class professionals, which would create a moral hazard as well as redistribute wealth from people lower on the socioeconomic ladder (for example, people who work in trades and pay their income taxes) to those of higher social class (for example, indebted white-collar college graduates). We're talking$1.7+ trillion in US student loansthat are generally not being serviced by those who owe it for this 21 month period. When those kick in again, consumer spending is not going to be higher than it is now. 2022 earnings estimates are mostly blind to this fact.\nSam–When Logan and I initially discussed this article, this seemed to be the easiest form of stimulus for the government to keep giving. Since most of the loans are federal, a pause on the payments doesn’t explicitly hurt anyone enough to complain. And since the handouts are not direct, critics aren’t as vocal as they are with stimulus checks. The money which has been put into various investments, be it stock or crypto, will come out when they have to start servicing debt again. Whether this has enough of an impact to move markets is questionable, but the retail meme stocks could finally have their day of reckoning as a large portion of the population has to resume payments. The aftermath of removing the pause on debt servicing will be harsh for an important part of the population. At least you’ll still be able to watch a movie at AMC Theater (AMC).\nEnhanced Unemployment & Stimulus Checks\nLogan- Enhanced unemployment runs out on September 6, and there are 11 million people who won't be getting it after that week. This is $3.3 billion per week that the Federal government is dripping out to unemployed persons, which in turn is a lot less than it was 12 months ago. When it's gone, it's yet another piece of the puzzle that will rein in consumer spending. Stimulus checks were another source of income for many Americans over the last 18 months. A family of 4 making the median income would have seen a stimulus check in March of $5,600, in addition to the prior payments under the Trump Administration. These aren't going to be going out anymore, and for middle-income Americans, this means that they won't be able to spend as much money as they have before. The expanded child tax credit may make up for this and is probably a more efficient means of getting money out, but it expires also in its current form in December.\nSam–Enhanced Unemployment is running out in a few days, we’re likely to see many of the 8 million Americans who are looking for a job finally find one amongthe 10 million job openings. As of the time of writing, job data is to be posted in the next few hours. Strong job numbers could kick off a Fed taper sooner than expected.\nConclusion: What Is Yet to Come?\nLogan–High profile earnings misses from the likes of Amazon (AMZN), Zoom Video (ZM), and Peloton (PTON) suggest that at least on a micro level, analysts assumed that good times would last forever for companies that benefitted from temporary changes resulting from the pandemic. Whether this is true on a macro level is a strong possibility, and depending on how the rest of earnings results come in for the rest of the year, it may end up becoming a reality. While it isn't set in stone that the market should necessarily go down significantly in price because of this, it's hard to deny that the risk-reward tradeoff for the market has deteriorated over the past 6-12 months. Now is a good time to dial back risk, if at all possible. A good defense, in both of our views, is to invest in high-quality companies rather than popular high-momentum stocks with middling fundamentals, and to take a long-term perspective.\nSam–The inflation train has left the station. Powell believes it is transitory, I believe that it might be partially transitory, but the abundance of fiscal stimulus has kicked up a cycle of inflation which will be above 2% for quite some time. The Covid delta variant has softened some economic indicators like eating out in restaurants or travel, but as the country’s case count is already peaking, the economy is set to continue heating up.\nThis will lead to a taper. Higher rates, or even the expectation of higher rates, will lead to a change in discount rates, which is a fancy way to say future profits are worthless.\nInvestors want to take a hard look at their portfolios and ask whether they have positions which are overvalued beyond reason?\nNo need to look at obscure parts of the market, this is playing out in the S&P 500 (SPY).\nFor instance, I cannot fathom how a stock like Intuit (INTU) currently trades at 16x sales? Even on its lofty usual measure of 8-9x sales, this is unusually high. Compare it to the stock's historical dividend, and the reading is off the wall.\nInvestors want to focus on companies with strong earnings power, large-scale operations, which are trading at relatively cheap valuations.\nAmong those that come to mind in the top 100 stocks are Amgen (AMGN) which currently yields over 3%.\n\nSource: Dividend Freedom Tribe\nPhilip Morris International (PM), Broadcom (AVGO), and Morgan Stanley (MS.PK) are also undervalued relative to their historical valuations.\nIn such an environment, focus on quality is a must. Focus on value is a close second. We’re looking to buy the highest quality assets with growth prospects at a decent price. We’re very cautious that stimulus unwinding will hit consumption which will hit earning results. Big misses from overvalued names spells trouble. The responsible thing to do is to scale out of stocks when they become overvalued.","news_type":1},"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816717441,"gmtCreate":1630535877683,"gmtModify":1676530330225,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Still riding on the uptrend but wondering&nbsp;what’s the next catalyst?","listText":"Still riding on the uptrend but wondering&nbsp;what’s the next catalyst?","text":"Still riding on the uptrend but wondering what’s the next catalyst?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816717441","repostId":"1194937312","repostType":4,"repost":{"id":"1194937312","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":1630503428,"share":"https://ttm.financial/m/news/1194937312?lang=&edition=fundamental","pubTime":"2021-09-01 21:37","market":"us","language":"en","title":"Apple shares rose nearly 2% in early trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1194937312","media":"Tiger Newspress","summary":"Apple shares rose nearly 2% in early trading.\n\n\nWolfe Research upgrades Apple from Underperform to P","content":"<p>Apple&nbsp;shares&nbsp;rose&nbsp;nearly&nbsp;2%&nbsp;in&nbsp;early&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/074074cd9456d4c1a7776d87b07c5c72\" tg-width=\"885\" tg-height=\"572\" width=\"100%\" height=\"auto\"></p>\n<ul>\n <li>Wolfe Research upgrades Apple&nbsp;from Underperform to Peer Perform on strong iPhone 12 demand trends that should provide a tailwind for the iPhone 13 lineup expected to launch later this month.</li>\n <li>Analyst Jeffrey Kvaal says the demand was driven by healthy U.S. operator promotions and Huawei share gains. Additional fuel is coming from the tech giant's supply chain strength, which partially offsets the global component shortage, and the \"elevated\" average selling prices.</li>\n <li>Kvaal raises Apple's price target from $135 to $155.</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>Apple shares rose nearly 2% in early trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple shares rose nearly 2% in early trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-01 21:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Apple&nbsp;shares&nbsp;rose&nbsp;nearly&nbsp;2%&nbsp;in&nbsp;early&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/074074cd9456d4c1a7776d87b07c5c72\" tg-width=\"885\" tg-height=\"572\" width=\"100%\" height=\"auto\"></p>\n<ul>\n <li>Wolfe Research upgrades Apple&nbsp;from Underperform to Peer Perform on strong iPhone 12 demand trends that should provide a tailwind for the iPhone 13 lineup expected to launch later this month.</li>\n <li>Analyst Jeffrey Kvaal says the demand was driven by healthy U.S. operator promotions and Huawei share gains. Additional fuel is coming from the tech giant's supply chain strength, which partially offsets the global component shortage, and the \"elevated\" average selling prices.</li>\n <li>Kvaal raises Apple's price target from $135 to $155.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194937312","content_text":"Apple shares rose nearly 2% in early trading.\n\n\nWolfe Research upgrades Apple from Underperform to Peer Perform on strong iPhone 12 demand trends that should provide a tailwind for the iPhone 13 lineup expected to launch later this month.\nAnalyst Jeffrey Kvaal says the demand was driven by healthy U.S. operator promotions and Huawei share gains. Additional fuel is coming from the tech giant's supply chain strength, which partially offsets the global component shortage, and the \"elevated\" average selling prices.\nKvaal raises Apple's price target from $135 to $155.","news_type":1},"isVote":1,"tweetType":1,"viewCount":181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816053566,"gmtCreate":1630456959555,"gmtModify":1676530307304,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Interest rate will remains low for longer period forsure","listText":"Interest rate will remains low for longer period forsure","text":"Interest rate will remains low for longer period forsure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816053566","repostId":"2164869989","repostType":4,"repost":{"id":"2164869989","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":1630442091,"share":"https://ttm.financial/m/news/2164869989?lang=&edition=fundamental","pubTime":"2021-09-01 04:34","market":"us","language":"en","title":"Wall Street's subdued finish fails to detract from strong August","url":"https://stock-news.laohu8.com/highlight/detail?id=2164869989","media":"Reuters","summary":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\n","content":"<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</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>Wall Street's subdued finish fails to detract from strong August</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street's subdued finish fails to detract from strong August\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\">2021-09-01 04:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","IVV":"标普500指数ETF","DXD":"道指两倍做空ETF","QQQ":"纳指100ETF","SH":"标普500反向ETF","DJX":"1/100道琼斯","PSQ":"纳指反向ETF","DOG":"道指反向ETF","QLD":"纳指两倍做多ETF","TQQQ":"纳指三倍做多ETF","SDOW":"道指三倍做空ETF-ProShares","OEF":"标普100指数ETF-iShares","SQQQ":"纳指三倍做空ETF","SPXU":"三倍做空标普500ETF","SDS":"两倍做空标普500ETF",".DJI":"道琼斯","DDM":"道指两倍做多ETF","SSO":"两倍做多标普500ETF","QID":"纳指两倍做空ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF",".IXIC":"NASDAQ Composite","OEX":"标普100",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164869989","content_text":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\nIndexes down: Dow 0.11%, S&P 0.13%, Nasdaq 0.04%\nAll main indexes post solid monthly performances\n\nAug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.\nHaving all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.\nFor the S&P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.\nThe performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.\n\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.\nWhile a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.\nU.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.\nA Reuters poll last week showed strategists believe the S&P 500 is likely to end 2021 not far from its current level.\n\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.\nTechnology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index\nwas among the worst performers on Tuesday.\nShares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.\nSeven of the 11 major S&P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.\nOn Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite dropped 6.66 points, or 0.04%, to 15,259.24.\nKansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co to proceed with its $29 billion proposed acquisition of its U.S. peer.\nVolume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.\nThe S&P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.\n(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)","news_type":1},"isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816059658,"gmtCreate":1630456875074,"gmtModify":1676530307255,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"But still online gaming has becomes daily activities among the young generation&nbsp;","listText":"But still online gaming has becomes daily activities among the young generation&nbsp;","text":"But still online gaming has becomes daily activities among the young generation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816059658","repostId":"2163888412","repostType":4,"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816027225,"gmtCreate":1630456770967,"gmtModify":1676530307057,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Such bumpy ride recently","listText":"Such bumpy ride recently","text":"Such bumpy ride recently","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816027225","repostId":"1131957400","repostType":4,"isVote":1,"tweetType":1,"viewCount":71,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819051276,"gmtCreate":1630023780195,"gmtModify":1676530201744,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Privatised, re-package, then list again","listText":"Privatised, re-package, then list again","text":"Privatised, re-package, then list again","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/819051276","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://ttm.financial/m/news/1126443939?lang=&edition=fundamental","pubTime":"2021-08-26 17:00","market":"hk","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":111,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819059140,"gmtCreate":1630023653480,"gmtModify":1676530201630,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Long term uptrend still intact. Go! Go! Go!","listText":"Long term uptrend still intact. Go! Go! Go!","text":"Long term uptrend still intact. Go! Go! Go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/819059140","repostId":"1113528238","repostType":4,"repost":{"id":"1113528238","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":1629970416,"share":"https://ttm.financial/m/news/1113528238?lang=&edition=fundamental","pubTime":"2021-08-26 17:33","market":"us","language":"en","title":"Xpeng Motors Q2 revenues RMB3,761.3 million, increasing by 536.7% YOY","url":"https://stock-news.laohu8.com/highlight/detail?id=1113528238","media":"Tiger Newspress","summary":"Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year\nQuarterly total revenues","content":"<ul>\n <li><i>Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year</i></li>\n <li><i>Quarterly total revenues reached RMB3,761.3 million, a 536.7% increase year-over-year</i></li>\n <li><i>Quarterly gross margin reached 11.9%</i></li>\n</ul>\n<p>XPeng Inc. today announced its unaudited financial results for the three months ended June 30, 2021.</p>\n<p>Xpeng Motors shares rose nearly 3% in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/15362a0708feeb0c27e75c9f79a5a64f\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n<p><b>Operational and Financial Highlights for the Three Months Ended June 30, 2021</b></p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;were 17,398 in the second quarter of 2021, reaching a record quarterly high, and representing an increase of 439% from 3,228 in the corresponding period of 2020 and an increase of 30.4% from 13,340 in the first quarter of 2021.</li>\n <li><b>Deliveries of the P7</b>&nbsp;were 11,522 in the second quarter of 2021, reaching a record quarterly high and representing an increase of 44.5% from 7,974 in the first quarter of 2021.</li>\n <li>Among the total P7s delivered in the second quarter of 2021, 97% can support XPILOT 2.5 or XPILOT 3.0.</li>\n <li>As of June 30, 2021, XPeng’s physical sales and service network consisted of a total of 200 stores and 64 service centers, covering 74 cities.</li>\n <li>As of June 30, 2021, XPeng-branded super charging stations expanded to 231, covering 65 cities.</li>\n <li><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</li>\n <li><b>Revenues from vehicle sales</b>&nbsp;were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020, and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021.</li>\n <li><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% for the same period of 2020 and 11.2% for the first quarter of 2021.</li>\n <li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021.</li>\n <li><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, non-GAAP net loss was RMB1,096.4 million (US$169.8 million) in the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million in the first quarter of 2021. Excluding share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Basic and diluted net loss per American depositary share (ADS)</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021. Each ADS represents two Class A ordinary shares.</li>\n <li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>&nbsp;were RMB32,871.2 million (US$5,091.1 million) as of June 30, 2021.</li>\n</ul>\n<p>XPeng started mass delivery of the P7 in late June 2020.</p>\n<p>“We delivered another record-breaking quarter with new highs recorded in several key metrics, underscoring an accelerated growth trajectory powered by our full-stack in-house technology capability,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Notably, deliveries for the first half of 2021 exceeded the total deliveries for the full year 2020, reaching 30,738, a 459% increase year-over-year.”</p>\n<p>“As EV adoption in China and around the world begins to soar, we are excited to lead in this unprecedented disruption opportunity with our outstanding vehicles and fast, seamless iterations of new technologies that are shaping the mobility experience of the future,” Mr. He added.</p>\n<p>“Our outstanding second quarter 2021 results reflect XPeng’s leadership in China’s booming Smart EV industry where we continue to introduce innovative technology, differentiated products and premium services,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and President of XPeng. “Fueled by strong delivery performance, our second quarter 2021 revenues grew 536.7% compared with the same period of 2020. We also witnessed further improvement in our profitability. In particular, our gross margin continued its upward trend and reached 11.9% in the quarter,” Dr. Gu concluded.</p>\n<p><b>Recent Developments</b></p>\n<p><b>Dual-primary Listing in Hong Kong</b></p>\n<p>On July 7, 2021 (the “<b>Listing Date</b>”), XPeng successfully listed its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “<b>Hong Kong Stock Exchange</b>”) (the “<b>Listing</b>”). The Company issued a total of 97,083,300 Class A ordinary shares in the global offering. Net proceeds from the global offering, after deducting underwriting fees and commissions were approximately HK$15,823 million, which will be used in accordance with the use of proceeds as disclosed in the prospectus of the Company published on the website of the Hong Kong Stock Exchange on June 25, 2021 (the “<b>Prospectus</b>”). Since the Listing Date and as at the date of this announcement, the Company has not utilized any net proceeds from the Listing.</p>\n<p><b>Deliveries in July 2021</b></p>\n<p>Total Smart EV deliveries of XPeng reached 8,040 in July 2021, representing a 228% increase year- over-year. The July deliveries consisted of 6,054 P7s, XPeng’s smart sports sedan, and 1,986 G3s, XPeng’s compact smart sport utility vehicle (“<b>SUV</b>”). As of July 31, 2021, year-to-date deliveries reached 38,778, representing a 388% increase year-over-year.</p>\n<p><b>Launch of G3i</b></p>\n<p>In July 2021, the Company launched the G3i SUV, the new mid-cycle facelift version of the G3, with deliveries expected to start in September this year. Incorporating the P7’s proven family design language, coupled with a brand-new look, the G3i is equipped with an intelligent in-car operating system and a powerful advanced driver-assistance system.</p>\n<p><b>The Pre-sales for P5</b></p>\n<p>In July 2021, XPeng commenced pre-sales for its third mass-produced model, the P5, XPeng’s smart family sedan, the world’s first mass-produced light detection and ranging (LIDAR) equipped Smart EV. The P5 will officially be launched in China in September 2021 with deliveries starting in the fourth quarter of 2021. The P5 will be equipped with advanced driver-assistance system features powered by XPeng’s full-stack in-house developed XPILOT 3.5 advanced driver-assistance system, which extended the Navigation Guided Pilot (NGP) function for highways and expressways to include major urban roads, traffic intersections and other complex city driving scenarios.</p>\n<p><b>Release of Valet Parking Assist (VPA)</b></p>\n<p>In June 2021, XPeng rolled out Valet Parking Assist, one of the most advanced automated parking function in the Chinese market, which memorizes locations and layouts of frequently used parking spots and enables advanced driver-assistance system for such parking lots.</p>\n<p><b>Unaudited Financial Results For the Three Months Ended June 30, 2021</b></p>\n<p><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</p>\n<p><i>Revenues from vehicle sales</i>were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020 and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021. The year-over-year increase was mainly due to higher vehicle delivery especially for the P7, which started at the end of June 2020. The quarter-over-quarter increase was also attributable to the higher P7 sales as a result of seasonality, channel expansion and brand equity improvement.</p>\n<p><i>Revenues from services and others</i>were RMB176.9 million (US$27.4 million) for the second quarter of 2021, representing an increase of 256.2% from RMB49.7 million for the same period of 2020 and an increase of 25.8% from RMB140.6 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly attributed to more income from service, parts and accessory sales in line with higher accumulated vehicle sales.</p>\n<p><b>Cost of sales</b>&nbsp;was RMB3,312.7 million (US$513.1 million) for the second quarter of 2021, representing an increase of 445.7% from RMB607.0 million for the same period of 2020 and an increase of 26.4% from RMB2,621.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to the increase of vehicle deliveries as described above.</p>\n<p><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% and 11.2% for the second quarter of 2020 and the first quarter of 2021, respectively.</p>\n<p><b>Vehicle margin</b>&nbsp;was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021. The improvement was primarily attributable to better product mix and material cost reduction.</p>\n<p><b>Research and development expenses</b>&nbsp;were RMB863.5 million (US$133.7 million) for the second quarter of 2021, representing an increase of 170.0% from RMB319.8 million for the same period of 2020 and an increase of 61.4% from RMB535.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, and (ii) higher expenses relating to the development of vehicles and related software technologies.</p>\n<p><b>Selling, general and administrative expenses</b>&nbsp;were RMB1,030.8 million (US$159.6 million) for the second quarter of 2021, representing an increase of 116.0% from RMB477.1 million for the same period of 2020 and an increase of 43.0% from RMB720.8 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, and (ii) the expansion of our sales network and associated personnel cost, and commission for franchised store sales.</p>\n<p><b>Loss from operations</b>&nbsp;was RMB1,443.2 million (US$223.5 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB903.9 million for the first quarter of 2021. The higher year-over-year and quarter-over-quarter losses were mainly attributable to higher operating expenses as described above.</p>\n<p><b>Non-GAAP loss from operations</b>, which excludes share-based compensation expenses, was RMB1,345.0 million (US$208.3 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB813.7 million for the first quarter of 2021.</p>\n<p><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss</b>, which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng</b>, which excludes share- based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Basic and diluted net loss per ADS</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021, compared with RMB6.29 for the second quarter of 2020 and RMB0.99 for the first quarter of 2021.</p>\n<p><b>Non-GAAP basic and diluted net loss per ADS</b>&nbsp;were both RMB1.38 (US$0.21) for the second quarter of 2021, compared with RMB4.24 for the second quarter of 2020 and RMB0.88 for the first quarter of 2021.</p>\n<p><b>Balance Sheets</b></p>\n<p>As of June 30, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB32,871.2 million (US$5,091.1 million), compared to RMB35,342.1 million as of December 31, 2020.</p>\n<p><b>Business Outlook</b></p>\n<p>For the third quarter of 2021, the Company expects:</p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;to be between 21,500 and 22,500, representing a year-over-year increase of approximately 150.6% to 162.3%.</li>\n <li><b>Total revenues</b>&nbsp;to be between RMB4.8 billion and RMB5.0 billion, representing a year-over- year increase of approximately 141.2% to 151.3%.</li>\n</ul>\n<p>The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXpeng Motors Q2 revenues RMB3,761.3 million, increasing by 536.7% YOY \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\">2021-08-26 17:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><i>Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year</i></li>\n <li><i>Quarterly total revenues reached RMB3,761.3 million, a 536.7% increase year-over-year</i></li>\n <li><i>Quarterly gross margin reached 11.9%</i></li>\n</ul>\n<p>XPeng Inc. today announced its unaudited financial results for the three months ended June 30, 2021.</p>\n<p>Xpeng Motors shares rose nearly 3% in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/15362a0708feeb0c27e75c9f79a5a64f\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n<p><b>Operational and Financial Highlights for the Three Months Ended June 30, 2021</b></p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;were 17,398 in the second quarter of 2021, reaching a record quarterly high, and representing an increase of 439% from 3,228 in the corresponding period of 2020 and an increase of 30.4% from 13,340 in the first quarter of 2021.</li>\n <li><b>Deliveries of the P7</b>&nbsp;were 11,522 in the second quarter of 2021, reaching a record quarterly high and representing an increase of 44.5% from 7,974 in the first quarter of 2021.</li>\n <li>Among the total P7s delivered in the second quarter of 2021, 97% can support XPILOT 2.5 or XPILOT 3.0.</li>\n <li>As of June 30, 2021, XPeng’s physical sales and service network consisted of a total of 200 stores and 64 service centers, covering 74 cities.</li>\n <li>As of June 30, 2021, XPeng-branded super charging stations expanded to 231, covering 65 cities.</li>\n <li><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</li>\n <li><b>Revenues from vehicle sales</b>&nbsp;were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020, and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021.</li>\n <li><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% for the same period of 2020 and 11.2% for the first quarter of 2021.</li>\n <li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021.</li>\n <li><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, non-GAAP net loss was RMB1,096.4 million (US$169.8 million) in the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million in the first quarter of 2021. Excluding share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Basic and diluted net loss per American depositary share (ADS)</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021. Each ADS represents two Class A ordinary shares.</li>\n <li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>&nbsp;were RMB32,871.2 million (US$5,091.1 million) as of June 30, 2021.</li>\n</ul>\n<p>XPeng started mass delivery of the P7 in late June 2020.</p>\n<p>“We delivered another record-breaking quarter with new highs recorded in several key metrics, underscoring an accelerated growth trajectory powered by our full-stack in-house technology capability,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Notably, deliveries for the first half of 2021 exceeded the total deliveries for the full year 2020, reaching 30,738, a 459% increase year-over-year.”</p>\n<p>“As EV adoption in China and around the world begins to soar, we are excited to lead in this unprecedented disruption opportunity with our outstanding vehicles and fast, seamless iterations of new technologies that are shaping the mobility experience of the future,” Mr. He added.</p>\n<p>“Our outstanding second quarter 2021 results reflect XPeng’s leadership in China’s booming Smart EV industry where we continue to introduce innovative technology, differentiated products and premium services,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and President of XPeng. “Fueled by strong delivery performance, our second quarter 2021 revenues grew 536.7% compared with the same period of 2020. We also witnessed further improvement in our profitability. In particular, our gross margin continued its upward trend and reached 11.9% in the quarter,” Dr. Gu concluded.</p>\n<p><b>Recent Developments</b></p>\n<p><b>Dual-primary Listing in Hong Kong</b></p>\n<p>On July 7, 2021 (the “<b>Listing Date</b>”), XPeng successfully listed its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “<b>Hong Kong Stock Exchange</b>”) (the “<b>Listing</b>”). The Company issued a total of 97,083,300 Class A ordinary shares in the global offering. Net proceeds from the global offering, after deducting underwriting fees and commissions were approximately HK$15,823 million, which will be used in accordance with the use of proceeds as disclosed in the prospectus of the Company published on the website of the Hong Kong Stock Exchange on June 25, 2021 (the “<b>Prospectus</b>”). Since the Listing Date and as at the date of this announcement, the Company has not utilized any net proceeds from the Listing.</p>\n<p><b>Deliveries in July 2021</b></p>\n<p>Total Smart EV deliveries of XPeng reached 8,040 in July 2021, representing a 228% increase year- over-year. The July deliveries consisted of 6,054 P7s, XPeng’s smart sports sedan, and 1,986 G3s, XPeng’s compact smart sport utility vehicle (“<b>SUV</b>”). As of July 31, 2021, year-to-date deliveries reached 38,778, representing a 388% increase year-over-year.</p>\n<p><b>Launch of G3i</b></p>\n<p>In July 2021, the Company launched the G3i SUV, the new mid-cycle facelift version of the G3, with deliveries expected to start in September this year. Incorporating the P7’s proven family design language, coupled with a brand-new look, the G3i is equipped with an intelligent in-car operating system and a powerful advanced driver-assistance system.</p>\n<p><b>The Pre-sales for P5</b></p>\n<p>In July 2021, XPeng commenced pre-sales for its third mass-produced model, the P5, XPeng’s smart family sedan, the world’s first mass-produced light detection and ranging (LIDAR) equipped Smart EV. The P5 will officially be launched in China in September 2021 with deliveries starting in the fourth quarter of 2021. The P5 will be equipped with advanced driver-assistance system features powered by XPeng’s full-stack in-house developed XPILOT 3.5 advanced driver-assistance system, which extended the Navigation Guided Pilot (NGP) function for highways and expressways to include major urban roads, traffic intersections and other complex city driving scenarios.</p>\n<p><b>Release of Valet Parking Assist (VPA)</b></p>\n<p>In June 2021, XPeng rolled out Valet Parking Assist, one of the most advanced automated parking function in the Chinese market, which memorizes locations and layouts of frequently used parking spots and enables advanced driver-assistance system for such parking lots.</p>\n<p><b>Unaudited Financial Results For the Three Months Ended June 30, 2021</b></p>\n<p><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</p>\n<p><i>Revenues from vehicle sales</i>were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020 and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021. The year-over-year increase was mainly due to higher vehicle delivery especially for the P7, which started at the end of June 2020. The quarter-over-quarter increase was also attributable to the higher P7 sales as a result of seasonality, channel expansion and brand equity improvement.</p>\n<p><i>Revenues from services and others</i>were RMB176.9 million (US$27.4 million) for the second quarter of 2021, representing an increase of 256.2% from RMB49.7 million for the same period of 2020 and an increase of 25.8% from RMB140.6 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly attributed to more income from service, parts and accessory sales in line with higher accumulated vehicle sales.</p>\n<p><b>Cost of sales</b>&nbsp;was RMB3,312.7 million (US$513.1 million) for the second quarter of 2021, representing an increase of 445.7% from RMB607.0 million for the same period of 2020 and an increase of 26.4% from RMB2,621.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to the increase of vehicle deliveries as described above.</p>\n<p><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% and 11.2% for the second quarter of 2020 and the first quarter of 2021, respectively.</p>\n<p><b>Vehicle margin</b>&nbsp;was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021. The improvement was primarily attributable to better product mix and material cost reduction.</p>\n<p><b>Research and development expenses</b>&nbsp;were RMB863.5 million (US$133.7 million) for the second quarter of 2021, representing an increase of 170.0% from RMB319.8 million for the same period of 2020 and an increase of 61.4% from RMB535.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, and (ii) higher expenses relating to the development of vehicles and related software technologies.</p>\n<p><b>Selling, general and administrative expenses</b>&nbsp;were RMB1,030.8 million (US$159.6 million) for the second quarter of 2021, representing an increase of 116.0% from RMB477.1 million for the same period of 2020 and an increase of 43.0% from RMB720.8 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, and (ii) the expansion of our sales network and associated personnel cost, and commission for franchised store sales.</p>\n<p><b>Loss from operations</b>&nbsp;was RMB1,443.2 million (US$223.5 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB903.9 million for the first quarter of 2021. The higher year-over-year and quarter-over-quarter losses were mainly attributable to higher operating expenses as described above.</p>\n<p><b>Non-GAAP loss from operations</b>, which excludes share-based compensation expenses, was RMB1,345.0 million (US$208.3 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB813.7 million for the first quarter of 2021.</p>\n<p><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss</b>, which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng</b>, which excludes share- based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Basic and diluted net loss per ADS</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021, compared with RMB6.29 for the second quarter of 2020 and RMB0.99 for the first quarter of 2021.</p>\n<p><b>Non-GAAP basic and diluted net loss per ADS</b>&nbsp;were both RMB1.38 (US$0.21) for the second quarter of 2021, compared with RMB4.24 for the second quarter of 2020 and RMB0.88 for the first quarter of 2021.</p>\n<p><b>Balance Sheets</b></p>\n<p>As of June 30, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB32,871.2 million (US$5,091.1 million), compared to RMB35,342.1 million as of December 31, 2020.</p>\n<p><b>Business Outlook</b></p>\n<p>For the third quarter of 2021, the Company expects:</p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;to be between 21,500 and 22,500, representing a year-over-year increase of approximately 150.6% to 162.3%.</li>\n <li><b>Total revenues</b>&nbsp;to be between RMB4.8 billion and RMB5.0 billion, representing a year-over- year increase of approximately 141.2% to 151.3%.</li>\n</ul>\n<p>The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","09868":"小鹏汽车-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113528238","content_text":"Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year\nQuarterly total revenues reached RMB3,761.3 million, a 536.7% increase year-over-year\nQuarterly gross margin reached 11.9%\n\nXPeng Inc. today announced its unaudited financial results for the three months ended June 30, 2021.\nXpeng Motors shares rose nearly 3% in morning trading.\n\nOperational and Financial Highlights for the Three Months Ended June 30, 2021\n\nDeliveries of vehicles were 17,398 in the second quarter of 2021, reaching a record quarterly high, and representing an increase of 439% from 3,228 in the corresponding period of 2020 and an increase of 30.4% from 13,340 in the first quarter of 2021.\nDeliveries of the P7 were 11,522 in the second quarter of 2021, reaching a record quarterly high and representing an increase of 44.5% from 7,974 in the first quarter of 2021.\nAmong the total P7s delivered in the second quarter of 2021, 97% can support XPILOT 2.5 or XPILOT 3.0.\nAs of June 30, 2021, XPeng’s physical sales and service network consisted of a total of 200 stores and 64 service centers, covering 74 cities.\nAs of June 30, 2021, XPeng-branded super charging stations expanded to 231, covering 65 cities.\nTotal revenues were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.\nRevenues from vehicle sales were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020, and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021.\nGross margin was 11.9% for the second quarter of 2021, compared with negative 2.7% for the same period of 2020 and 11.2% for the first quarter of 2021.\nVehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021.\nNet loss was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, non-GAAP net loss was RMB1,096.4 million (US$169.8 million) in the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nNet loss attributable to ordinary shareholders of XPeng was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million in the first quarter of 2021. Excluding share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nBasic and diluted net loss per American depositary share (ADS) were both RMB1.50 (US$0.23) for the second quarter of 2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021. Each ADS represents two Class A ordinary shares.\nCash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits were RMB32,871.2 million (US$5,091.1 million) as of June 30, 2021.\n\nXPeng started mass delivery of the P7 in late June 2020.\n“We delivered another record-breaking quarter with new highs recorded in several key metrics, underscoring an accelerated growth trajectory powered by our full-stack in-house technology capability,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Notably, deliveries for the first half of 2021 exceeded the total deliveries for the full year 2020, reaching 30,738, a 459% increase year-over-year.”\n“As EV adoption in China and around the world begins to soar, we are excited to lead in this unprecedented disruption opportunity with our outstanding vehicles and fast, seamless iterations of new technologies that are shaping the mobility experience of the future,” Mr. He added.\n“Our outstanding second quarter 2021 results reflect XPeng’s leadership in China’s booming Smart EV industry where we continue to introduce innovative technology, differentiated products and premium services,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and President of XPeng. “Fueled by strong delivery performance, our second quarter 2021 revenues grew 536.7% compared with the same period of 2020. We also witnessed further improvement in our profitability. In particular, our gross margin continued its upward trend and reached 11.9% in the quarter,” Dr. Gu concluded.\nRecent Developments\nDual-primary Listing in Hong Kong\nOn July 7, 2021 (the “Listing Date”), XPeng successfully listed its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) (the “Listing”). The Company issued a total of 97,083,300 Class A ordinary shares in the global offering. Net proceeds from the global offering, after deducting underwriting fees and commissions were approximately HK$15,823 million, which will be used in accordance with the use of proceeds as disclosed in the prospectus of the Company published on the website of the Hong Kong Stock Exchange on June 25, 2021 (the “Prospectus”). Since the Listing Date and as at the date of this announcement, the Company has not utilized any net proceeds from the Listing.\nDeliveries in July 2021\nTotal Smart EV deliveries of XPeng reached 8,040 in July 2021, representing a 228% increase year- over-year. The July deliveries consisted of 6,054 P7s, XPeng’s smart sports sedan, and 1,986 G3s, XPeng’s compact smart sport utility vehicle (“SUV”). As of July 31, 2021, year-to-date deliveries reached 38,778, representing a 388% increase year-over-year.\nLaunch of G3i\nIn July 2021, the Company launched the G3i SUV, the new mid-cycle facelift version of the G3, with deliveries expected to start in September this year. Incorporating the P7’s proven family design language, coupled with a brand-new look, the G3i is equipped with an intelligent in-car operating system and a powerful advanced driver-assistance system.\nThe Pre-sales for P5\nIn July 2021, XPeng commenced pre-sales for its third mass-produced model, the P5, XPeng’s smart family sedan, the world’s first mass-produced light detection and ranging (LIDAR) equipped Smart EV. The P5 will officially be launched in China in September 2021 with deliveries starting in the fourth quarter of 2021. The P5 will be equipped with advanced driver-assistance system features powered by XPeng’s full-stack in-house developed XPILOT 3.5 advanced driver-assistance system, which extended the Navigation Guided Pilot (NGP) function for highways and expressways to include major urban roads, traffic intersections and other complex city driving scenarios.\nRelease of Valet Parking Assist (VPA)\nIn June 2021, XPeng rolled out Valet Parking Assist, one of the most advanced automated parking function in the Chinese market, which memorizes locations and layouts of frequently used parking spots and enables advanced driver-assistance system for such parking lots.\nUnaudited Financial Results For the Three Months Ended June 30, 2021\nTotal revenues were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.\nRevenues from vehicle saleswere RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020 and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021. The year-over-year increase was mainly due to higher vehicle delivery especially for the P7, which started at the end of June 2020. The quarter-over-quarter increase was also attributable to the higher P7 sales as a result of seasonality, channel expansion and brand equity improvement.\nRevenues from services and otherswere RMB176.9 million (US$27.4 million) for the second quarter of 2021, representing an increase of 256.2% from RMB49.7 million for the same period of 2020 and an increase of 25.8% from RMB140.6 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly attributed to more income from service, parts and accessory sales in line with higher accumulated vehicle sales.\nCost of sales was RMB3,312.7 million (US$513.1 million) for the second quarter of 2021, representing an increase of 445.7% from RMB607.0 million for the same period of 2020 and an increase of 26.4% from RMB2,621.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to the increase of vehicle deliveries as described above.\nGross margin was 11.9% for the second quarter of 2021, compared with negative 2.7% and 11.2% for the second quarter of 2020 and the first quarter of 2021, respectively.\nVehicle margin was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021. The improvement was primarily attributable to better product mix and material cost reduction.\nResearch and development expenses were RMB863.5 million (US$133.7 million) for the second quarter of 2021, representing an increase of 170.0% from RMB319.8 million for the same period of 2020 and an increase of 61.4% from RMB535.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, and (ii) higher expenses relating to the development of vehicles and related software technologies.\nSelling, general and administrative expenses were RMB1,030.8 million (US$159.6 million) for the second quarter of 2021, representing an increase of 116.0% from RMB477.1 million for the same period of 2020 and an increase of 43.0% from RMB720.8 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, and (ii) the expansion of our sales network and associated personnel cost, and commission for franchised store sales.\nLoss from operations was RMB1,443.2 million (US$223.5 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB903.9 million for the first quarter of 2021. The higher year-over-year and quarter-over-quarter losses were mainly attributable to higher operating expenses as described above.\nNon-GAAP loss from operations, which excludes share-based compensation expenses, was RMB1,345.0 million (US$208.3 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB813.7 million for the first quarter of 2021.\nNet loss was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.\nNon-GAAP net loss, which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nNet loss attributable to ordinary shareholders of XPeng was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.\nNon-GAAP net loss attributable to ordinary shareholders of XPeng, which excludes share- based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nBasic and diluted net loss per ADS were both RMB1.50 (US$0.23) for the second quarter of 2021, compared with RMB6.29 for the second quarter of 2020 and RMB0.99 for the first quarter of 2021.\nNon-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021, compared with RMB4.24 for the second quarter of 2020 and RMB0.88 for the first quarter of 2021.\nBalance Sheets\nAs of June 30, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB32,871.2 million (US$5,091.1 million), compared to RMB35,342.1 million as of December 31, 2020.\nBusiness Outlook\nFor the third quarter of 2021, the Company expects:\n\nDeliveries of vehicles to be between 21,500 and 22,500, representing a year-over-year increase of approximately 150.6% to 162.3%.\nTotal revenues to be between RMB4.8 billion and RMB5.0 billion, representing a year-over- year increase of approximately 141.2% to 151.3%.\n\nThe above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810072446,"gmtCreate":1629937136885,"gmtModify":1676530175942,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Time to accumulate&nbsp;","listText":"Time to accumulate&nbsp;","text":"Time to accumulate","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810072446","repostId":"1197817467","repostType":4,"isVote":1,"tweetType":1,"viewCount":69,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834751636,"gmtCreate":1629843635825,"gmtModify":1676530145778,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Solid growth!","listText":"Solid growth!","text":"Solid growth!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834751636","repostId":"1194470972","repostType":4,"isVote":1,"tweetType":1,"viewCount":179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834727121,"gmtCreate":1629843341163,"gmtModify":1676530145682,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"EV is the must have&nbsp;","listText":"EV is the must have&nbsp;","text":"EV is the must have","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834727121","repostId":"1103523722","repostType":4,"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834724036,"gmtCreate":1629843280925,"gmtModify":1676530145658,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"About time for a rebound","listText":"About time for a rebound","text":"About time for a rebound","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834724036","repostId":"1197817467","repostType":4,"repost":{"id":"1197817467","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":1629793955,"share":"https://ttm.financial/m/news/1197817467?lang=&edition=fundamental","pubTime":"2021-08-24 16:32","market":"us","language":"en","title":"Pinduoduo shares Popped 12% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1197817467","media":"Tiger Newspress","summary":"Pinduoduo shares Popped 12% in premarket trading.Pinduoduo will report its unaudited financial resul","content":"<p>Pinduoduo shares Popped 12% in premarket trading.Pinduoduo&nbsp;will report its unaudited financial results for the second quarter endedJune 30, 2021, beforeU.S.markets open onTuesday, August 24, 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/ab08b7d4f7d4d451af8a049f46f22596\" tg-width=\"891\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p>\n<p>Pinduoduo Inc.(“Pinduoduo”) (NASDAQ: PDD) announced that it will report its unaudited financial results for the second quarter endedJune 30, 2021, beforeU.S.markets open onTuesday, August 24, 2021.</p>\n<p>Pinduoduo’s management will hold an earnings conference call at7:30 AM&nbsp;U.S.&nbsp;Eastern Time on&nbsp;August 24, 2021. (7:30 PM&nbsp;Beijing/Hong Kong Time on the same day).</p>\n<p><b>AboutPinduoduo Inc.</b></p>\n<p>Pinduoduois a mobile-only marketplace that connects millions of agricultural producers with consumers acrossChina.Pinduoduoaims to bring more businesses and people into the digital economy so that local communities can benefit from the increased productivity and convenience through new market opportunities.</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>Pinduoduo shares Popped 12% in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPinduoduo shares Popped 12% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-24 16:32</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Pinduoduo shares Popped 12% in premarket trading.Pinduoduo&nbsp;will report its unaudited financial results for the second quarter endedJune 30, 2021, beforeU.S.markets open onTuesday, August 24, 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/ab08b7d4f7d4d451af8a049f46f22596\" tg-width=\"891\" tg-height=\"638\" referrerpolicy=\"no-referrer\"></p>\n<p>Pinduoduo Inc.(“Pinduoduo”) (NASDAQ: PDD) announced that it will report its unaudited financial results for the second quarter endedJune 30, 2021, beforeU.S.markets open onTuesday, August 24, 2021.</p>\n<p>Pinduoduo’s management will hold an earnings conference call at7:30 AM&nbsp;U.S.&nbsp;Eastern Time on&nbsp;August 24, 2021. (7:30 PM&nbsp;Beijing/Hong Kong Time on the same day).</p>\n<p><b>AboutPinduoduo Inc.</b></p>\n<p>Pinduoduois a mobile-only marketplace that connects millions of agricultural producers with consumers acrossChina.Pinduoduoaims to bring more businesses and people into the digital economy so that local communities can benefit from the increased productivity and convenience through new market opportunities.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197817467","content_text":"Pinduoduo shares Popped 12% in premarket trading.Pinduoduo will report its unaudited financial results for the second quarter endedJune 30, 2021, beforeU.S.markets open onTuesday, August 24, 2021.\n\nPinduoduo Inc.(“Pinduoduo”) (NASDAQ: PDD) announced that it will report its unaudited financial results for the second quarter endedJune 30, 2021, beforeU.S.markets open onTuesday, August 24, 2021.\nPinduoduo’s management will hold an earnings conference call at7:30 AM U.S. Eastern Time on August 24, 2021. (7:30 PM Beijing/Hong Kong Time on the same day).\nAboutPinduoduo Inc.\nPinduoduois a mobile-only marketplace that connects millions of agricultural producers with consumers acrossChina.Pinduoduoaims to bring more businesses and people into the digital economy so that local communities can benefit from the increased productivity and convenience through new market opportunities.","news_type":1},"isVote":1,"tweetType":1,"viewCount":55,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838517146,"gmtCreate":1629419035085,"gmtModify":1676530032781,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Alibaba is more like a tech-ETF by itself&nbsp;","listText":"Alibaba is more like a tech-ETF by itself&nbsp;","text":"Alibaba is more like a tech-ETF by itself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838517146","repostId":"1139347294","repostType":4,"repost":{"id":"1139347294","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":1629360495,"share":"https://ttm.financial/m/news/1139347294?lang=&edition=fundamental","pubTime":"2021-08-19 16:08","market":"us","language":"en","title":"Some of China concepts stocks dipped in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1139347294","media":"Tiger Newspress","summary":" Some of China concepts stocks dipped in premarket trading.Alibaba Group Holding Ltd. shares sinks nearly 4% in premarket trading.Alibaba Group Holding Ltd. shares slumped as much as 5.4% to a record low in Hong Kong on Thursday, extending a selloff in Chinese technology giants after Beijing hit the industry with a fresh round of regulations.Shares dropped after China said it is studying separate proposals to further ensure the rights of drivers who work for online companies and to step up overs","content":"<p>(Aug 19)&nbsp;Some of China concepts stocks dipped in premarket trading.</p>\n<p>Alibaba Group Holding Ltd. shares&nbsp;sinks&nbsp;nearly&nbsp;4%&nbsp;in&nbsp;premarket&nbsp;trading.<img src=\"https://static.tigerbbs.com/fefcc778386231c06f68469bfe8308ee\" tg-width=\"273\" tg-height=\"719\" referrerpolicy=\"no-referrer\">Alibaba Group Holding Ltd. shares slumped as much as 5.4% to a record low in Hong Kong on Thursday, extending a selloff in Chinese technology giants after Beijing hit the industry with a fresh round of regulations.</p>\n<p>Shares dropped after China said it is studying separate proposals to further ensure the rights of drivers who work for online companies and to step up oversight of the live streaming industry.</p>\n<p>Sentiment for China’s largest advertising platform also soured after peer Tencent Holdings Ltd. executives said in a post-earnings conference call that the government can make fairly substantial changes to how companies use data for advertising.</p>\n<p>Beijing’s recent crackdowns on the tech sector wiped off about $1 trillion of market value from Chinese shares listed globally last month as they quickly expanded from antitrust and e-commerce concerns to private tutoring, data security and online content.</p>\n<p>Alibaba’s shares have slumped 30% this year in Hong Kong compared to a fall of just under 7% for the Hang Seng Index. Its U.S.-listed shares, which have been trading since 2014, are down about 26% for the year and still far away from their record lows.</p>\n<p>The selloff has prompted some global fund managers including Cathie Wood to dump their holdings in Chinese stocks over the past few months. In fact, some investors are questioning allocations toward Chinese assets altogether.</p>\n<p>The new moves are incremental but investors are not at a point where they “will cease to price in any more additional policies,” said Shine Gao, fund manager at Taicheng Capital Management Co. “Even if the worst is over for big tech firms in terms of new regulations, we should expect that their growth won’t be what it was.”</p>\n<p>The Hang Seng Index fell as much as 2.3% Thursday while the Hang Seng Tech Index, which counts many Chinese tech giants as its members, dropped to the lowest since its July 2020 inception.</p>\n<p>Tencent reversed earlier gains of as much as 3.4% to trade down nearly 3% in Hong Kong as its warnings for more regulatory curbs on the industry overshadowed second quarter earnings that beat estimates.</p>\n<p>Among other tech names, food-delivery giant Meituan tanked as much as 7.2%, following a similar drop in ride-hailing company DiDi Global Inc. in the U.S. Video streaming giant Kuaishou Technology slid as much as 4.7%.</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>Some of China concepts stocks dipped in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSome of China concepts stocks dipped in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-19 16:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Aug 19)&nbsp;Some of China concepts stocks dipped in premarket trading.</p>\n<p>Alibaba Group Holding Ltd. shares&nbsp;sinks&nbsp;nearly&nbsp;4%&nbsp;in&nbsp;premarket&nbsp;trading.<img src=\"https://static.tigerbbs.com/fefcc778386231c06f68469bfe8308ee\" tg-width=\"273\" tg-height=\"719\" referrerpolicy=\"no-referrer\">Alibaba Group Holding Ltd. shares slumped as much as 5.4% to a record low in Hong Kong on Thursday, extending a selloff in Chinese technology giants after Beijing hit the industry with a fresh round of regulations.</p>\n<p>Shares dropped after China said it is studying separate proposals to further ensure the rights of drivers who work for online companies and to step up oversight of the live streaming industry.</p>\n<p>Sentiment for China’s largest advertising platform also soured after peer Tencent Holdings Ltd. executives said in a post-earnings conference call that the government can make fairly substantial changes to how companies use data for advertising.</p>\n<p>Beijing’s recent crackdowns on the tech sector wiped off about $1 trillion of market value from Chinese shares listed globally last month as they quickly expanded from antitrust and e-commerce concerns to private tutoring, data security and online content.</p>\n<p>Alibaba’s shares have slumped 30% this year in Hong Kong compared to a fall of just under 7% for the Hang Seng Index. Its U.S.-listed shares, which have been trading since 2014, are down about 26% for the year and still far away from their record lows.</p>\n<p>The selloff has prompted some global fund managers including Cathie Wood to dump their holdings in Chinese stocks over the past few months. In fact, some investors are questioning allocations toward Chinese assets altogether.</p>\n<p>The new moves are incremental but investors are not at a point where they “will cease to price in any more additional policies,” said Shine Gao, fund manager at Taicheng Capital Management Co. “Even if the worst is over for big tech firms in terms of new regulations, we should expect that their growth won’t be what it was.”</p>\n<p>The Hang Seng Index fell as much as 2.3% Thursday while the Hang Seng Tech Index, which counts many Chinese tech giants as its members, dropped to the lowest since its July 2020 inception.</p>\n<p>Tencent reversed earlier gains of as much as 3.4% to trade down nearly 3% in Hong Kong as its warnings for more regulatory curbs on the industry overshadowed second quarter earnings that beat estimates.</p>\n<p>Among other tech names, food-delivery giant Meituan tanked as much as 7.2%, following a similar drop in ride-hailing company DiDi Global Inc. in the U.S. Video streaming giant Kuaishou Technology slid as much as 4.7%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139347294","content_text":"(Aug 19) Some of China concepts stocks dipped in premarket trading.\nAlibaba Group Holding Ltd. shares sinks nearly 4% in premarket trading.Alibaba Group Holding Ltd. shares slumped as much as 5.4% to a record low in Hong Kong on Thursday, extending a selloff in Chinese technology giants after Beijing hit the industry with a fresh round of regulations.\nShares dropped after China said it is studying separate proposals to further ensure the rights of drivers who work for online companies and to step up oversight of the live streaming industry.\nSentiment for China’s largest advertising platform also soured after peer Tencent Holdings Ltd. executives said in a post-earnings conference call that the government can make fairly substantial changes to how companies use data for advertising.\nBeijing’s recent crackdowns on the tech sector wiped off about $1 trillion of market value from Chinese shares listed globally last month as they quickly expanded from antitrust and e-commerce concerns to private tutoring, data security and online content.\nAlibaba’s shares have slumped 30% this year in Hong Kong compared to a fall of just under 7% for the Hang Seng Index. Its U.S.-listed shares, which have been trading since 2014, are down about 26% for the year and still far away from their record lows.\nThe selloff has prompted some global fund managers including Cathie Wood to dump their holdings in Chinese stocks over the past few months. In fact, some investors are questioning allocations toward Chinese assets altogether.\nThe new moves are incremental but investors are not at a point where they “will cease to price in any more additional policies,” said Shine Gao, fund manager at Taicheng Capital Management Co. “Even if the worst is over for big tech firms in terms of new regulations, we should expect that their growth won’t be what it was.”\nThe Hang Seng Index fell as much as 2.3% Thursday while the Hang Seng Tech Index, which counts many Chinese tech giants as its members, dropped to the lowest since its July 2020 inception.\nTencent reversed earlier gains of as much as 3.4% to trade down nearly 3% in Hong Kong as its warnings for more regulatory curbs on the industry overshadowed second quarter earnings that beat estimates.\nAmong other tech names, food-delivery giant Meituan tanked as much as 7.2%, following a similar drop in ride-hailing company DiDi Global Inc. in the U.S. Video streaming giant Kuaishou Technology slid as much as 4.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":203,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838516665,"gmtCreate":1629418910957,"gmtModify":1676530032686,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"The fact is - these companies are still making tonnes of money, and there’s no sign of drastic slowdown&nbsp;","listText":"The fact is - these companies are still making tonnes of money, and there’s no sign of drastic slowdown&nbsp;","text":"The fact is - these companies are still making tonnes of money, and there’s no sign of drastic slowdown","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838516665","repostId":"1127010631","repostType":4,"isVote":1,"tweetType":1,"viewCount":135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838511319,"gmtCreate":1629418789431,"gmtModify":1676530032648,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Some of the American didn’t even take the first dose...","listText":"Some of the American didn’t even take the first dose...","text":"Some of the American didn’t even take the first dose...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838511319","repostId":"1179587518","repostType":4,"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":830633467,"gmtCreate":1629069485559,"gmtModify":1676529918185,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Growth stocks normally have high PE and rich valuation; but they might eventually looks like bargain buy when EV dominates the car market","listText":"Growth stocks normally have high PE and rich valuation; but they might eventually looks like bargain buy when EV dominates the car market","text":"Growth stocks normally have high PE and rich valuation; but they might eventually looks like bargain buy when EV dominates the car market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/830633467","repostId":"2159214569","repostType":4,"repost":{"id":"2159214569","pubTimestamp":1628989290,"share":"https://ttm.financial/m/news/2159214569?lang=&edition=fundamental","pubTime":"2021-08-15 09:01","market":"us","language":"en","title":"How to value Nio's stock compared to Tesla, VW, Ford and other rivals","url":"https://stock-news.laohu8.com/highlight/detail?id=2159214569","media":"MarkeWatch","summary":"Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle maker's prospects.That might make sense to you as an investor -- after all, Nio is an innovative company that sells only electric vehicles. Ford is a legacy auto maker that is working to catch up and eventually make a full transition to electric vehicles. Shares of Nio have more than tripled in the past year, while Ford's have almost doubled after cratering in the previous decade.So where does Nio $$","content":"<p>Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle maker's prospects.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/459f713c5dfcf08752165d643a5f1463\" tg-width=\"700\" tg-height=\"525\" width=\"100%\" height=\"auto\"><span>A Nio store in downtown Shanghai. (Getty Images)</span></p>\n<p>Chinese electric-vehicle maker Nio Inc., which sells no cars in the U.S., has a market capitalization of $60.2 billion. By that measure, it is larger than Ford Motor Co., which was founded in 1903.</p>\n<p>That might make sense to you as an investor -- after all, Nio is an innovative company that sells only electric vehicles. Ford is a legacy auto maker that is working to catch up and eventually make a full transition to electric vehicles. Shares of Nio have more than tripled in the past year, while Ford's have almost doubled after cratering in the previous decade.</p>\n<p>So where does Nio <a href=\"https://laohu8.com/S/NIO\">$(NIO)$</a>, which reported second-quarter results after the stock market closes Wednesday, fit in an investment thesis? Below are screens showing how its stock valuation compares to vehicle production, and how that valuation relates to projected earnings through 2025.</p>\n<p><b>Doubling car production</b></p>\n<p>For the second quarter, Nio delivered 21,896 vehicles for a 112% increase from a year earlier. The growth is impressive, but the total number of vehicles sold is still relatively small.</p>\n<p>Here's a look at the 10 largest auto makers by market capitalization, along with their second-quarter sales or delivery numbers (whichever was higher, if both were reported) and additional color below the table:</p>\n<img src=\"https://static.tigerbbs.com/d9e9aed76c94544dbe44cde9f7c8bebc\" tg-width=\"931\" tg-height=\"761\" width=\"100%\" height=\"auto\">\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p>You can see that those valuations are about the future, when innovators in the EV space -- Tesla Inc.&nbsp;and Nio, on this list -- may (or may not) become as large as legacy players.</p>\n<p>For now, Ford churns out mostly internal combustion engine&nbsp;vehicles at nearly 35 times the rate that Nio makes EVs.</p>\n<p>One thing to be aware of is that the legacy auto makers don't all report their unit sales the same way. Most don't break out electric vehicle sales.</p>\n<p>Among those that do, definitions vary. For example, Toyota Motor Corp. (7203.TO) reported that \"electrified vehicle\" sales made up 26.6% of total auto sales during the second quarter. But that category includes:</p>\n<p>For Toyota, BEV made up only 0.2% of second-quarter sales, while they accounted for 100% of sales for Nio and Tesla. Toyota's PHEV sales made up 1.4% of the total.</p>\n<p>Volkswagen AG reports electric-vehicle sales as including PHEV, which accounted for 6.7% of second-quarter sales, or BEV, which made up 4.4% of total sales. Those are impressive numbers: a combined 11.1%.</p>\n<p>For Bayerische Motoren Werke Aktiengesellschaft , better known as BWM Group, a second-quarter breakdown of electric-vehicle deliveries isn't yet available, but for the first half of 2021, 153,243 all-electric or plug-in hybrid vehicles were delivered, or 11.4% of total deliveries.</p>\n<p><b>Valuation to earnings estimates</b></p>\n<p>For companies at early stages, comparisons of price-to-earnings ratios may not mean very much. Such companies are focusing on growth rather than profits. An example of this has been Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, which has traded at a high P/E for decades as it has worked to expand into new lines of business, at the expense of the bottom line.</p>\n<p>A high P/E ratio can reflect investors' enthusiasm for innovation and in the case of EVs, a political consensus for transforming the industry. So Nio and Tesla trade at much higher P/E ratios than the legacy auto makers.</p>\n<p>Then again, very low P/E may show too much contempt among investors for the older manufacturers, as they use their cash flow from continuing massive sales of traditional vehicles to fund their development of EVs. Opportunities may be highlighted.</p>\n<p>Normally a forward P/E ratio is calculated by dividing the share price by a rolling consensus estimate of earnings per share for 12 months. This isn't available for all the companies listed here, so we're using consensus estimates for net income for calendar 2022.</p>\n<p>First, here are P/E ratios based on current market caps and consensus 2022 estimates among analysts polled by FactSet. The table includes the annual estimates going out to 2025, and also a P/E based on current market caps and the 2025 estimates:</p>\n<img src=\"https://static.tigerbbs.com/459439c822252d09b3dfb73cc5d51211\" tg-width=\"1058\" tg-height=\"743\" width=\"100%\" height=\"auto\">\n<p>Nio is expected to become profitable in 2023. Looking out to 2024, its forward P/E is lower than that of Tesla. To put the forward P/E valuations in perspective, the S&amp;P 500 Index trades for a weighted 20.5 times consensus 2022 EPS estimates.</p>\n<p><b>Valuation to sales</b></p>\n<table>\n <tbody>\n  <tr></tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>Forward price-to-sales estimates might be more useful for early-stage companies that are showing low profits or net losses. Then again, the same distortions apply: Investors love the pure-play EV makers now, and may be paying too much for them when you consider that shares of Nio have more than tripled over the past year, while Tesla's stock has risen 150%.</p>\n<p>Here's a similar set of data driving price-to-sale ratios, again using current market caps (in the first table at the top of this article) and consensus full-calendar-year estimates in millions of U.S. dollars:</p>\n<img src=\"https://static.tigerbbs.com/c8c0b7d002e07914e42fcdf0e624b25c\" tg-width=\"1051\" tg-height=\"668\" width=\"100%\" height=\"auto\">\n<p>For reference, the S&amp;P 500 trades for 2.7 times its consensus 2022 sales estimate.</p>\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p><b>Analysts' opinions</b></p>\n<p>Here's a summary of opinion of the 10 auto makers among analysts polled by FactSet. For companies with primary listings outside the U.S., the local tickers are used. All share prices and targets are in local currencies:</p>\n<img src=\"https://static.tigerbbs.com/32f38063eabf2e93f73561a0454a44ac\" tg-width=\"1059\" tg-height=\"639\" width=\"100%\" height=\"auto\">\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How to value Nio's stock compared to Tesla, VW, Ford and other rivals</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow to value Nio's stock compared to Tesla, VW, Ford and other rivals\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-15 09:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/nio-releases-earnings-wednesday-heres-how-to-value-its-stock-compared-to-tesla-ford-and-other-rivals-11628716814?mod=mw_quote_news><strong>MarkeWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle maker's prospects.\nA Nio store in downtown Shanghai. (Getty Images)\nChinese electric-vehicle maker Nio ...</p>\n\n<a href=\"https://www.marketwatch.com/story/nio-releases-earnings-wednesday-heres-how-to-value-its-stock-compared-to-tesla-ford-and-other-rivals-11628716814?mod=mw_quote_news\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GM":"通用汽车","HMC":"本田汽车","NIO":"蔚来","F":"福特汽车","TSLA":"特斯拉","STLA":"Stellantis NV"},"source_url":"https://www.marketwatch.com/story/nio-releases-earnings-wednesday-heres-how-to-value-its-stock-compared-to-tesla-ford-and-other-rivals-11628716814?mod=mw_quote_news","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159214569","content_text":"Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle maker's prospects.\nA Nio store in downtown Shanghai. (Getty Images)\nChinese electric-vehicle maker Nio Inc., which sells no cars in the U.S., has a market capitalization of $60.2 billion. By that measure, it is larger than Ford Motor Co., which was founded in 1903.\nThat might make sense to you as an investor -- after all, Nio is an innovative company that sells only electric vehicles. Ford is a legacy auto maker that is working to catch up and eventually make a full transition to electric vehicles. Shares of Nio have more than tripled in the past year, while Ford's have almost doubled after cratering in the previous decade.\nSo where does Nio $(NIO)$, which reported second-quarter results after the stock market closes Wednesday, fit in an investment thesis? Below are screens showing how its stock valuation compares to vehicle production, and how that valuation relates to projected earnings through 2025.\nDoubling car production\nFor the second quarter, Nio delivered 21,896 vehicles for a 112% increase from a year earlier. The growth is impressive, but the total number of vehicles sold is still relatively small.\nHere's a look at the 10 largest auto makers by market capitalization, along with their second-quarter sales or delivery numbers (whichever was higher, if both were reported) and additional color below the table:\n\n\n\n\n\n\nYou can see that those valuations are about the future, when innovators in the EV space -- Tesla Inc. and Nio, on this list -- may (or may not) become as large as legacy players.\nFor now, Ford churns out mostly internal combustion engine vehicles at nearly 35 times the rate that Nio makes EVs.\nOne thing to be aware of is that the legacy auto makers don't all report their unit sales the same way. Most don't break out electric vehicle sales.\nAmong those that do, definitions vary. For example, Toyota Motor Corp. (7203.TO) reported that \"electrified vehicle\" sales made up 26.6% of total auto sales during the second quarter. But that category includes:\nFor Toyota, BEV made up only 0.2% of second-quarter sales, while they accounted for 100% of sales for Nio and Tesla. Toyota's PHEV sales made up 1.4% of the total.\nVolkswagen AG reports electric-vehicle sales as including PHEV, which accounted for 6.7% of second-quarter sales, or BEV, which made up 4.4% of total sales. Those are impressive numbers: a combined 11.1%.\nFor Bayerische Motoren Werke Aktiengesellschaft , better known as BWM Group, a second-quarter breakdown of electric-vehicle deliveries isn't yet available, but for the first half of 2021, 153,243 all-electric or plug-in hybrid vehicles were delivered, or 11.4% of total deliveries.\nValuation to earnings estimates\nFor companies at early stages, comparisons of price-to-earnings ratios may not mean very much. Such companies are focusing on growth rather than profits. An example of this has been Amazon.com Inc. $(AMZN)$, which has traded at a high P/E for decades as it has worked to expand into new lines of business, at the expense of the bottom line.\nA high P/E ratio can reflect investors' enthusiasm for innovation and in the case of EVs, a political consensus for transforming the industry. So Nio and Tesla trade at much higher P/E ratios than the legacy auto makers.\nThen again, very low P/E may show too much contempt among investors for the older manufacturers, as they use their cash flow from continuing massive sales of traditional vehicles to fund their development of EVs. Opportunities may be highlighted.\nNormally a forward P/E ratio is calculated by dividing the share price by a rolling consensus estimate of earnings per share for 12 months. This isn't available for all the companies listed here, so we're using consensus estimates for net income for calendar 2022.\nFirst, here are P/E ratios based on current market caps and consensus 2022 estimates among analysts polled by FactSet. The table includes the annual estimates going out to 2025, and also a P/E based on current market caps and the 2025 estimates:\n\nNio is expected to become profitable in 2023. Looking out to 2024, its forward P/E is lower than that of Tesla. To put the forward P/E valuations in perspective, the S&P 500 Index trades for a weighted 20.5 times consensus 2022 EPS estimates.\nValuation to sales\n\n\n\n\n\n\nForward price-to-sales estimates might be more useful for early-stage companies that are showing low profits or net losses. Then again, the same distortions apply: Investors love the pure-play EV makers now, and may be paying too much for them when you consider that shares of Nio have more than tripled over the past year, while Tesla's stock has risen 150%.\nHere's a similar set of data driving price-to-sale ratios, again using current market caps (in the first table at the top of this article) and consensus full-calendar-year estimates in millions of U.S. dollars:\n\nFor reference, the S&P 500 trades for 2.7 times its consensus 2022 sales estimate.\n\n\n\n\n\nAnalysts' opinions\nHere's a summary of opinion of the 10 auto makers among analysts polled by FactSet. For companies with primary listings outside the U.S., the local tickers are used. All share prices and targets are in local currencies:","news_type":1},"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815353185,"gmtCreate":1630648190747,"gmtModify":1676530365651,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"It’s easy to advocate&nbsp;picking high quality stocks with solid profits &amp; dividends but it’ll be even better&nbsp;if you may list down a number of them which tick the boxes","listText":"It’s easy to advocate&nbsp;picking high quality stocks with solid profits &amp; dividends but it’ll be even better&nbsp;if you may list down a number of them which tick the boxes","text":"It’s easy to advocate picking high quality stocks with solid profits & dividends but it’ll be even better if you may list down a number of them which tick the boxes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815353185","repostId":"1115112299","repostType":4,"isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886177369,"gmtCreate":1631578054751,"gmtModify":1676530578601,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Consolidation phase - the strong will grow stronger","listText":"Consolidation phase - the strong will grow stronger","text":"Consolidation phase - the strong will grow stronger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/886177369","repostId":"1108674949","repostType":4,"isVote":1,"tweetType":1,"viewCount":439,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":830691934,"gmtCreate":1629069064328,"gmtModify":1676529917942,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Breaking all time high soon","listText":"Breaking all time high soon","text":"Breaking all time high soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/830691934","repostId":"2159211727","repostType":4,"repost":{"id":"2159211727","pubTimestamp":1628988031,"share":"https://ttm.financial/m/news/2159211727?lang=&edition=fundamental","pubTime":"2021-08-15 08:40","market":"us","language":"en","title":"2 Robinhood Stocks to Buy in August","url":"https://stock-news.laohu8.com/highlight/detail?id=2159211727","media":"Motley Fool","summary":"These popular stocks could deliver big wins for your portfolio if you hold them for the long term.","content":"<p><b>Robinhood Markets</b> (NASDAQ:HOOD) has made buying stocks easy and accessible for millions of new investors. Users of the company's commission-free trading platform have earned a reputation for engaging in short-term trading, risky options plays, and volatile meme stock candidates including <b>AMC Entertainment Holdings</b> and <b>GameStop</b>, but they are also heavily invested in some more traditional, blue-chip names.</p>\n<p>Retail investors have emerged as a powerful force in today's stock market, and some companies favored by Robinhood investors will likely go on to deliver fantastic performance. With that in mind, read on for a look at two popular stocks on the platform that could make you richer in August and beyond.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e077c67492fd018ea6e07625352ded57\" tg-width=\"700\" tg-height=\"388\" width=\"100%\" height=\"auto\"><span>Image source: Getty Images</span></p>\n<h2>1. Amazon</h2>\n<p>Shares of <b>Amazon</b> (NASDAQ:AMZN) have lost some ground after the company's second-quarter results arrived with revenue that fell short of the market's expectations and guidance for weaker-than-expected growth. While the company's sales performance and near-term guidance fell short of analyst estimates, long-term investors shouldn't be too concerned with these relatively small misses.</p>\n<p>The company's profit in the second quarter came in well ahead of the market's expectations, and the recent pullback in the stock presents an opportunity to build a position in <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the world's best-run and most-influential companies.</p>\n<p>Amazon ranked as the ninth most-held stock among Robinhood investors at the beginning of August, and it's not hard to see why. The tech giant has built incredible category-leading businesses across multiple industries, and it's also able to leverage strengths between sectors to create synergies that make the overall company stronger.</p>\n<p>For example, Amazon's market-leading e-commerce business has helped it expand into the subscription-services market, and its subscription services also help keep users engaged in its online retail ecosystem. The company's dominant position in e-commerce also means that its platform is one of the most valuable online advertising hubs, and the company is rapidly building a powerful digital advertising business that should help power growth through the next decade and beyond.</p>\n<p>The company's Echo hardware and Alexa voice-based operating system also feed into the company's online retail and digital advertising operations. Amazon Web Services stands as a market leader in the cloud infrastructure space, and it provides a variety of computing and data analytics tools to other company projects in addition to serving up strong margins and sales growth in its own right.</p>\n<p>Amazon has been an innovative and forward-thinking company, and it's likely that it will continue to successfully expand into new categories that also strengthen its existing businesses. Few companies look better positioned for long-term success.</p>\n<h2>2. Palantir Technologies</h2>\n<p>More so than ever before, gathering and analyzing data is central to success for public and private institutions. <b>Palantir Technologies</b> (NYSE:PLTR) specializes in big data analytics and is emerging as an early favorite for large public and private organizations. And its stock stands out as a top candidate for risk-tolerant investors looking to benefit from new evolutions in the Information Age.</p>\n<p>The next decade will see an explosion of new connected devices and communications services. The Internet of Things will bring a wide range of new tech hardware online, and sensor technology will expand the range of objects that generate data. Virtual machines communicating with one another online will further power the ongoing data boom, and this surge of new information will create a flood of valuable new information to sort through and analyze.</p>\n<p>Palantir's Foundry software platform helps manage data and predict outcomes with data analytics and artificial intelligence. Thus far, the company has demonstrated an impressive ability to deliver solutions that are ahead of the curve, and it's continued to provide users with consistent updates and upgrades that have boosted the value of its software. These initiatives are helping the company bring new customers on board and get existing customers to increase their spending through the platform.</p>\n<p>Palantir is already finding success with its land-and-expand business model, but it's important to keep in mind just how much room for expansion is still there. While data analytics has already played a big role in shaping the direction of the 21st century, this is still a young science and industry, and it will likely only become increasingly influential. Whether its governance on the national, state, or local level or mapping out crucial next moves for a small or large business, data analytics will play a big role in separating the winners from the losers in both the public and private sectors.</p>\n<p>The company ranks as the 23rd most-held stock among Robinhood users, but it stands out for other reasons too. Palantir is a disruptive first mover operating in an industry that has a huge runway for growth over the long term. I think that investors who take a buy-and-hold approach could go on to see very strong returns from the stock.</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>2 Robinhood Stocks to Buy in August</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\">\n2 Robinhood Stocks to Buy in August\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-15 08:40 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/14/2-robinhood-stocks-to-buy-in-august/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Robinhood Markets (NASDAQ:HOOD) has made buying stocks easy and accessible for millions of new investors. Users of the company's commission-free trading platform have earned a reputation for engaging ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/14/2-robinhood-stocks-to-buy-in-august/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc.","AMZN":"亚马逊"},"source_url":"https://www.fool.com/investing/2021/08/14/2-robinhood-stocks-to-buy-in-august/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159211727","content_text":"Robinhood Markets (NASDAQ:HOOD) has made buying stocks easy and accessible for millions of new investors. Users of the company's commission-free trading platform have earned a reputation for engaging in short-term trading, risky options plays, and volatile meme stock candidates including AMC Entertainment Holdings and GameStop, but they are also heavily invested in some more traditional, blue-chip names.\nRetail investors have emerged as a powerful force in today's stock market, and some companies favored by Robinhood investors will likely go on to deliver fantastic performance. With that in mind, read on for a look at two popular stocks on the platform that could make you richer in August and beyond.\nImage source: Getty Images\n1. Amazon\nShares of Amazon (NASDAQ:AMZN) have lost some ground after the company's second-quarter results arrived with revenue that fell short of the market's expectations and guidance for weaker-than-expected growth. While the company's sales performance and near-term guidance fell short of analyst estimates, long-term investors shouldn't be too concerned with these relatively small misses.\nThe company's profit in the second quarter came in well ahead of the market's expectations, and the recent pullback in the stock presents an opportunity to build a position in one of the world's best-run and most-influential companies.\nAmazon ranked as the ninth most-held stock among Robinhood investors at the beginning of August, and it's not hard to see why. The tech giant has built incredible category-leading businesses across multiple industries, and it's also able to leverage strengths between sectors to create synergies that make the overall company stronger.\nFor example, Amazon's market-leading e-commerce business has helped it expand into the subscription-services market, and its subscription services also help keep users engaged in its online retail ecosystem. The company's dominant position in e-commerce also means that its platform is one of the most valuable online advertising hubs, and the company is rapidly building a powerful digital advertising business that should help power growth through the next decade and beyond.\nThe company's Echo hardware and Alexa voice-based operating system also feed into the company's online retail and digital advertising operations. Amazon Web Services stands as a market leader in the cloud infrastructure space, and it provides a variety of computing and data analytics tools to other company projects in addition to serving up strong margins and sales growth in its own right.\nAmazon has been an innovative and forward-thinking company, and it's likely that it will continue to successfully expand into new categories that also strengthen its existing businesses. Few companies look better positioned for long-term success.\n2. Palantir Technologies\nMore so than ever before, gathering and analyzing data is central to success for public and private institutions. Palantir Technologies (NYSE:PLTR) specializes in big data analytics and is emerging as an early favorite for large public and private organizations. And its stock stands out as a top candidate for risk-tolerant investors looking to benefit from new evolutions in the Information Age.\nThe next decade will see an explosion of new connected devices and communications services. The Internet of Things will bring a wide range of new tech hardware online, and sensor technology will expand the range of objects that generate data. Virtual machines communicating with one another online will further power the ongoing data boom, and this surge of new information will create a flood of valuable new information to sort through and analyze.\nPalantir's Foundry software platform helps manage data and predict outcomes with data analytics and artificial intelligence. Thus far, the company has demonstrated an impressive ability to deliver solutions that are ahead of the curve, and it's continued to provide users with consistent updates and upgrades that have boosted the value of its software. These initiatives are helping the company bring new customers on board and get existing customers to increase their spending through the platform.\nPalantir is already finding success with its land-and-expand business model, but it's important to keep in mind just how much room for expansion is still there. While data analytics has already played a big role in shaping the direction of the 21st century, this is still a young science and industry, and it will likely only become increasingly influential. Whether its governance on the national, state, or local level or mapping out crucial next moves for a small or large business, data analytics will play a big role in separating the winners from the losers in both the public and private sectors.\nThe company ranks as the 23rd most-held stock among Robinhood users, but it stands out for other reasons too. Palantir is a disruptive first mover operating in an industry that has a huge runway for growth over the long term. I think that investors who take a buy-and-hold approach could go on to see very strong returns from the stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816717441,"gmtCreate":1630535877683,"gmtModify":1676530330225,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Still riding on the uptrend but wondering&nbsp;what’s the next catalyst?","listText":"Still riding on the uptrend but wondering&nbsp;what’s the next catalyst?","text":"Still riding on the uptrend but wondering what’s the next catalyst?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816717441","repostId":"1194937312","repostType":4,"isVote":1,"tweetType":1,"viewCount":181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816053566,"gmtCreate":1630456959555,"gmtModify":1676530307304,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Interest rate will remains low for longer period forsure","listText":"Interest rate will remains low for longer period forsure","text":"Interest rate will remains low for longer period forsure","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816053566","repostId":"2164869989","repostType":4,"repost":{"id":"2164869989","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":1630442091,"share":"https://ttm.financial/m/news/2164869989?lang=&edition=fundamental","pubTime":"2021-09-01 04:34","market":"us","language":"en","title":"Wall Street's subdued finish fails to detract from strong August","url":"https://stock-news.laohu8.com/highlight/detail?id=2164869989","media":"Reuters","summary":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\n","content":"<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</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>Wall Street's subdued finish fails to detract from strong August</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street's subdued finish fails to detract from strong August\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\">2021-09-01 04:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><a href=\"https://laohu8.com/S/ZM\">Zoom</a> tumbles on faster-than-expected drop in demand</li>\n <li>Apple off lifetime high, as tech broadly weighs</li>\n <li>Indexes down: Dow 0.11%, S&amp;P 0.13%, Nasdaq 0.04%</li>\n <li>All main indexes post solid monthly performances</li>\n</ul>\n<p>Aug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.</p>\n<p>Having all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&amp;P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.</p>\n<p>For the S&amp;P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.</p>\n<p>The performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.</p>\n<p>\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&amp;P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.</p>\n<p>While a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.</p>\n<p>U.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.</p>\n<p>A Reuters poll last week showed strategists believe the S&amp;P 500 is likely to end 2021 not far from its current level.</p>\n<p>\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.</p>\n<p>Technology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index</p>\n<p>was among the worst performers on Tuesday.</p>\n<p>Shares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.</p>\n<p>Seven of the 11 major S&amp;P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.</p>\n<p>On Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&amp;P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite&nbsp;dropped 6.66 points, or 0.04%, to 15,259.24.</p>\n<p>Kansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co&nbsp;to proceed with its $29 billion proposed acquisition of its U.S. peer.</p>\n<p>Volume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.</p>\n<p>The S&amp;P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.</p>\n<p>(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","IVV":"标普500指数ETF","DXD":"道指两倍做空ETF","QQQ":"纳指100ETF","SH":"标普500反向ETF","DJX":"1/100道琼斯","PSQ":"纳指反向ETF","DOG":"道指反向ETF","QLD":"纳指两倍做多ETF","TQQQ":"纳指三倍做多ETF","SDOW":"道指三倍做空ETF-ProShares","OEF":"标普100指数ETF-iShares","SQQQ":"纳指三倍做空ETF","SPXU":"三倍做空标普500ETF","SDS":"两倍做空标普500ETF",".DJI":"道琼斯","DDM":"道指两倍做多ETF","SSO":"两倍做多标普500ETF","QID":"纳指两倍做空ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF",".IXIC":"NASDAQ Composite","OEX":"标普100",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2164869989","content_text":"Zoom tumbles on faster-than-expected drop in demand\nApple off lifetime high, as tech broadly weighs\nIndexes down: Dow 0.11%, S&P 0.13%, Nasdaq 0.04%\nAll main indexes post solid monthly performances\n\nAug 31 (Reuters) - Wall Street finished marginally lower on Tuesday, although the slightly subdued ending to August failed to detract from a strong monthly performance by its three main indexes, in what is traditionally regarded as a quiet period for equities.\nHaving all posted lifetime highs in the second half of the month, including four record closings in five sessions for the S&P 500 prior to Tuesday, the three benchmarks were weighed by technology stocks on the final day.\nFor the S&P, which rose 2.9% in August, it was a seventh straight month of gains, while the Dow and the Nasdaq advanced 1.2% and 4%, respectively, since the end of July.\nThe performance reflects the level of investor confidence in U.S. equities derived from the Federal Reserve's continued dovish tone toward tapering its massive stimulus program.\n\"After all the monetary and fiscal interventions, the question is where do we go from here? Does the S&P go to 5,000, and how does it get there?\" said Eric Metz, chief executive officer of SpringRock Advisors.\nWhile a strong recovery in economic growth and corporate earnings have boosted U.S. stocks, investors are concerned about rising coronavirus cases and the path of Fed policy.\nU.S. consumer confidence fell to a six-month low in August, according to survey data from the Conference Board on Tuesday, offering a cautious note for the economic outlook.\nA Reuters poll last week showed strategists believe the S&P 500 is likely to end 2021 not far from its current level.\n\"Where's leadership going to come from, for equities to power higher? Is it earnings growth, is it growth versus value, technology or energy? This needs to be defined, but I think the next leg-up for equities will be sector driven,\" Metz added.\nTechnology stocks have continued to garner interest from investors in recent days, given the benefits which lower rates have on their future earnings, although the sector's index\nwas among the worst performers on Tuesday.\nShares of Apple fell 0.8% after hitting a lifetime high in the previous session, while Zoom Video Communications Inc tumbled 16.7% as it signaled a faster-than-expected easing in demand for its video-conferencing service after a pandemic-driven boom.\nSeven of the 11 major S&P sectors retreated. Among those that did not were the real estate and the communications services indexes, which closed at record highs.\nOn Tuesday, the Dow Jones Industrial Average fell 39.11 points, or 0.11%, to 35,360.73, the S&P 500 lost 6.11 points, or 0.13%, to 4,522.68 and the Nasdaq Composite dropped 6.66 points, or 0.04%, to 15,259.24.\nKansas City Southern dropped 4.4% in afternoon trading after the U.S. rail regulator rejected a voting trust structure that would have allowed Canadian National Railway Co to proceed with its $29 billion proposed acquisition of its U.S. peer.\nVolume on U.S. exchanges was 9.84 billion shares, compared with the 8.98 billion average for the full session over the last 20 trading days.\nThe S&P 500 posted 43 new 52-week highs and no new lows; the Nasdaq Composite recorded 119 new highs and 23 new lows.\n(Reporting by Shashank Nayar in Bengaluru and David French in New York; Editing by Aditya Soni and Lisa Shumaker)","news_type":1},"isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816027225,"gmtCreate":1630456770967,"gmtModify":1676530307057,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Such bumpy ride recently","listText":"Such bumpy ride recently","text":"Such bumpy ride recently","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816027225","repostId":"1131957400","repostType":4,"isVote":1,"tweetType":1,"viewCount":71,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819059140,"gmtCreate":1630023653480,"gmtModify":1676530201630,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Long term uptrend still intact. Go! Go! Go!","listText":"Long term uptrend still intact. Go! Go! Go!","text":"Long term uptrend still intact. Go! Go! Go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/819059140","repostId":"1113528238","repostType":4,"repost":{"id":"1113528238","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":1629970416,"share":"https://ttm.financial/m/news/1113528238?lang=&edition=fundamental","pubTime":"2021-08-26 17:33","market":"us","language":"en","title":"Xpeng Motors Q2 revenues RMB3,761.3 million, increasing by 536.7% YOY","url":"https://stock-news.laohu8.com/highlight/detail?id=1113528238","media":"Tiger Newspress","summary":"Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year\nQuarterly total revenues","content":"<ul>\n <li><i>Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year</i></li>\n <li><i>Quarterly total revenues reached RMB3,761.3 million, a 536.7% increase year-over-year</i></li>\n <li><i>Quarterly gross margin reached 11.9%</i></li>\n</ul>\n<p>XPeng Inc. today announced its unaudited financial results for the three months ended June 30, 2021.</p>\n<p>Xpeng Motors shares rose nearly 3% in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/15362a0708feeb0c27e75c9f79a5a64f\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n<p><b>Operational and Financial Highlights for the Three Months Ended June 30, 2021</b></p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;were 17,398 in the second quarter of 2021, reaching a record quarterly high, and representing an increase of 439% from 3,228 in the corresponding period of 2020 and an increase of 30.4% from 13,340 in the first quarter of 2021.</li>\n <li><b>Deliveries of the P7</b>&nbsp;were 11,522 in the second quarter of 2021, reaching a record quarterly high and representing an increase of 44.5% from 7,974 in the first quarter of 2021.</li>\n <li>Among the total P7s delivered in the second quarter of 2021, 97% can support XPILOT 2.5 or XPILOT 3.0.</li>\n <li>As of June 30, 2021, XPeng’s physical sales and service network consisted of a total of 200 stores and 64 service centers, covering 74 cities.</li>\n <li>As of June 30, 2021, XPeng-branded super charging stations expanded to 231, covering 65 cities.</li>\n <li><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</li>\n <li><b>Revenues from vehicle sales</b>&nbsp;were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020, and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021.</li>\n <li><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% for the same period of 2020 and 11.2% for the first quarter of 2021.</li>\n <li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021.</li>\n <li><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, non-GAAP net loss was RMB1,096.4 million (US$169.8 million) in the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million in the first quarter of 2021. Excluding share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Basic and diluted net loss per American depositary share (ADS)</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021. Each ADS represents two Class A ordinary shares.</li>\n <li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>&nbsp;were RMB32,871.2 million (US$5,091.1 million) as of June 30, 2021.</li>\n</ul>\n<p>XPeng started mass delivery of the P7 in late June 2020.</p>\n<p>“We delivered another record-breaking quarter with new highs recorded in several key metrics, underscoring an accelerated growth trajectory powered by our full-stack in-house technology capability,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Notably, deliveries for the first half of 2021 exceeded the total deliveries for the full year 2020, reaching 30,738, a 459% increase year-over-year.”</p>\n<p>“As EV adoption in China and around the world begins to soar, we are excited to lead in this unprecedented disruption opportunity with our outstanding vehicles and fast, seamless iterations of new technologies that are shaping the mobility experience of the future,” Mr. He added.</p>\n<p>“Our outstanding second quarter 2021 results reflect XPeng’s leadership in China’s booming Smart EV industry where we continue to introduce innovative technology, differentiated products and premium services,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and President of XPeng. “Fueled by strong delivery performance, our second quarter 2021 revenues grew 536.7% compared with the same period of 2020. We also witnessed further improvement in our profitability. In particular, our gross margin continued its upward trend and reached 11.9% in the quarter,” Dr. Gu concluded.</p>\n<p><b>Recent Developments</b></p>\n<p><b>Dual-primary Listing in Hong Kong</b></p>\n<p>On July 7, 2021 (the “<b>Listing Date</b>”), XPeng successfully listed its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “<b>Hong Kong Stock Exchange</b>”) (the “<b>Listing</b>”). The Company issued a total of 97,083,300 Class A ordinary shares in the global offering. Net proceeds from the global offering, after deducting underwriting fees and commissions were approximately HK$15,823 million, which will be used in accordance with the use of proceeds as disclosed in the prospectus of the Company published on the website of the Hong Kong Stock Exchange on June 25, 2021 (the “<b>Prospectus</b>”). Since the Listing Date and as at the date of this announcement, the Company has not utilized any net proceeds from the Listing.</p>\n<p><b>Deliveries in July 2021</b></p>\n<p>Total Smart EV deliveries of XPeng reached 8,040 in July 2021, representing a 228% increase year- over-year. The July deliveries consisted of 6,054 P7s, XPeng’s smart sports sedan, and 1,986 G3s, XPeng’s compact smart sport utility vehicle (“<b>SUV</b>”). As of July 31, 2021, year-to-date deliveries reached 38,778, representing a 388% increase year-over-year.</p>\n<p><b>Launch of G3i</b></p>\n<p>In July 2021, the Company launched the G3i SUV, the new mid-cycle facelift version of the G3, with deliveries expected to start in September this year. Incorporating the P7’s proven family design language, coupled with a brand-new look, the G3i is equipped with an intelligent in-car operating system and a powerful advanced driver-assistance system.</p>\n<p><b>The Pre-sales for P5</b></p>\n<p>In July 2021, XPeng commenced pre-sales for its third mass-produced model, the P5, XPeng’s smart family sedan, the world’s first mass-produced light detection and ranging (LIDAR) equipped Smart EV. The P5 will officially be launched in China in September 2021 with deliveries starting in the fourth quarter of 2021. The P5 will be equipped with advanced driver-assistance system features powered by XPeng’s full-stack in-house developed XPILOT 3.5 advanced driver-assistance system, which extended the Navigation Guided Pilot (NGP) function for highways and expressways to include major urban roads, traffic intersections and other complex city driving scenarios.</p>\n<p><b>Release of Valet Parking Assist (VPA)</b></p>\n<p>In June 2021, XPeng rolled out Valet Parking Assist, one of the most advanced automated parking function in the Chinese market, which memorizes locations and layouts of frequently used parking spots and enables advanced driver-assistance system for such parking lots.</p>\n<p><b>Unaudited Financial Results For the Three Months Ended June 30, 2021</b></p>\n<p><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</p>\n<p><i>Revenues from vehicle sales</i>were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020 and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021. The year-over-year increase was mainly due to higher vehicle delivery especially for the P7, which started at the end of June 2020. The quarter-over-quarter increase was also attributable to the higher P7 sales as a result of seasonality, channel expansion and brand equity improvement.</p>\n<p><i>Revenues from services and others</i>were RMB176.9 million (US$27.4 million) for the second quarter of 2021, representing an increase of 256.2% from RMB49.7 million for the same period of 2020 and an increase of 25.8% from RMB140.6 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly attributed to more income from service, parts and accessory sales in line with higher accumulated vehicle sales.</p>\n<p><b>Cost of sales</b>&nbsp;was RMB3,312.7 million (US$513.1 million) for the second quarter of 2021, representing an increase of 445.7% from RMB607.0 million for the same period of 2020 and an increase of 26.4% from RMB2,621.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to the increase of vehicle deliveries as described above.</p>\n<p><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% and 11.2% for the second quarter of 2020 and the first quarter of 2021, respectively.</p>\n<p><b>Vehicle margin</b>&nbsp;was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021. The improvement was primarily attributable to better product mix and material cost reduction.</p>\n<p><b>Research and development expenses</b>&nbsp;were RMB863.5 million (US$133.7 million) for the second quarter of 2021, representing an increase of 170.0% from RMB319.8 million for the same period of 2020 and an increase of 61.4% from RMB535.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, and (ii) higher expenses relating to the development of vehicles and related software technologies.</p>\n<p><b>Selling, general and administrative expenses</b>&nbsp;were RMB1,030.8 million (US$159.6 million) for the second quarter of 2021, representing an increase of 116.0% from RMB477.1 million for the same period of 2020 and an increase of 43.0% from RMB720.8 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, and (ii) the expansion of our sales network and associated personnel cost, and commission for franchised store sales.</p>\n<p><b>Loss from operations</b>&nbsp;was RMB1,443.2 million (US$223.5 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB903.9 million for the first quarter of 2021. The higher year-over-year and quarter-over-quarter losses were mainly attributable to higher operating expenses as described above.</p>\n<p><b>Non-GAAP loss from operations</b>, which excludes share-based compensation expenses, was RMB1,345.0 million (US$208.3 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB813.7 million for the first quarter of 2021.</p>\n<p><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss</b>, which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng</b>, which excludes share- based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Basic and diluted net loss per ADS</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021, compared with RMB6.29 for the second quarter of 2020 and RMB0.99 for the first quarter of 2021.</p>\n<p><b>Non-GAAP basic and diluted net loss per ADS</b>&nbsp;were both RMB1.38 (US$0.21) for the second quarter of 2021, compared with RMB4.24 for the second quarter of 2020 and RMB0.88 for the first quarter of 2021.</p>\n<p><b>Balance Sheets</b></p>\n<p>As of June 30, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB32,871.2 million (US$5,091.1 million), compared to RMB35,342.1 million as of December 31, 2020.</p>\n<p><b>Business Outlook</b></p>\n<p>For the third quarter of 2021, the Company expects:</p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;to be between 21,500 and 22,500, representing a year-over-year increase of approximately 150.6% to 162.3%.</li>\n <li><b>Total revenues</b>&nbsp;to be between RMB4.8 billion and RMB5.0 billion, representing a year-over- year increase of approximately 141.2% to 151.3%.</li>\n</ul>\n<p>The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nXpeng Motors Q2 revenues RMB3,761.3 million, increasing by 536.7% YOY \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\">2021-08-26 17:33</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul>\n <li><i>Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year</i></li>\n <li><i>Quarterly total revenues reached RMB3,761.3 million, a 536.7% increase year-over-year</i></li>\n <li><i>Quarterly gross margin reached 11.9%</i></li>\n</ul>\n<p>XPeng Inc. today announced its unaudited financial results for the three months ended June 30, 2021.</p>\n<p>Xpeng Motors shares rose nearly 3% in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/15362a0708feeb0c27e75c9f79a5a64f\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p>\n<p><b>Operational and Financial Highlights for the Three Months Ended June 30, 2021</b></p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;were 17,398 in the second quarter of 2021, reaching a record quarterly high, and representing an increase of 439% from 3,228 in the corresponding period of 2020 and an increase of 30.4% from 13,340 in the first quarter of 2021.</li>\n <li><b>Deliveries of the P7</b>&nbsp;were 11,522 in the second quarter of 2021, reaching a record quarterly high and representing an increase of 44.5% from 7,974 in the first quarter of 2021.</li>\n <li>Among the total P7s delivered in the second quarter of 2021, 97% can support XPILOT 2.5 or XPILOT 3.0.</li>\n <li>As of June 30, 2021, XPeng’s physical sales and service network consisted of a total of 200 stores and 64 service centers, covering 74 cities.</li>\n <li>As of June 30, 2021, XPeng-branded super charging stations expanded to 231, covering 65 cities.</li>\n <li><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</li>\n <li><b>Revenues from vehicle sales</b>&nbsp;were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020, and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021.</li>\n <li><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% for the same period of 2020 and 11.2% for the first quarter of 2021.</li>\n <li><b>Vehicle margin</b>, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021.</li>\n <li><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, non-GAAP net loss was RMB1,096.4 million (US$169.8 million) in the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million in the first quarter of 2021. Excluding share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</li>\n <li><b>Basic and diluted net loss per American depositary share (ADS)</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021. Each ADS represents two Class A ordinary shares.</li>\n <li><b>Cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits</b>&nbsp;were RMB32,871.2 million (US$5,091.1 million) as of June 30, 2021.</li>\n</ul>\n<p>XPeng started mass delivery of the P7 in late June 2020.</p>\n<p>“We delivered another record-breaking quarter with new highs recorded in several key metrics, underscoring an accelerated growth trajectory powered by our full-stack in-house technology capability,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Notably, deliveries for the first half of 2021 exceeded the total deliveries for the full year 2020, reaching 30,738, a 459% increase year-over-year.”</p>\n<p>“As EV adoption in China and around the world begins to soar, we are excited to lead in this unprecedented disruption opportunity with our outstanding vehicles and fast, seamless iterations of new technologies that are shaping the mobility experience of the future,” Mr. He added.</p>\n<p>“Our outstanding second quarter 2021 results reflect XPeng’s leadership in China’s booming Smart EV industry where we continue to introduce innovative technology, differentiated products and premium services,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and President of XPeng. “Fueled by strong delivery performance, our second quarter 2021 revenues grew 536.7% compared with the same period of 2020. We also witnessed further improvement in our profitability. In particular, our gross margin continued its upward trend and reached 11.9% in the quarter,” Dr. Gu concluded.</p>\n<p><b>Recent Developments</b></p>\n<p><b>Dual-primary Listing in Hong Kong</b></p>\n<p>On July 7, 2021 (the “<b>Listing Date</b>”), XPeng successfully listed its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “<b>Hong Kong Stock Exchange</b>”) (the “<b>Listing</b>”). The Company issued a total of 97,083,300 Class A ordinary shares in the global offering. Net proceeds from the global offering, after deducting underwriting fees and commissions were approximately HK$15,823 million, which will be used in accordance with the use of proceeds as disclosed in the prospectus of the Company published on the website of the Hong Kong Stock Exchange on June 25, 2021 (the “<b>Prospectus</b>”). Since the Listing Date and as at the date of this announcement, the Company has not utilized any net proceeds from the Listing.</p>\n<p><b>Deliveries in July 2021</b></p>\n<p>Total Smart EV deliveries of XPeng reached 8,040 in July 2021, representing a 228% increase year- over-year. The July deliveries consisted of 6,054 P7s, XPeng’s smart sports sedan, and 1,986 G3s, XPeng’s compact smart sport utility vehicle (“<b>SUV</b>”). As of July 31, 2021, year-to-date deliveries reached 38,778, representing a 388% increase year-over-year.</p>\n<p><b>Launch of G3i</b></p>\n<p>In July 2021, the Company launched the G3i SUV, the new mid-cycle facelift version of the G3, with deliveries expected to start in September this year. Incorporating the P7’s proven family design language, coupled with a brand-new look, the G3i is equipped with an intelligent in-car operating system and a powerful advanced driver-assistance system.</p>\n<p><b>The Pre-sales for P5</b></p>\n<p>In July 2021, XPeng commenced pre-sales for its third mass-produced model, the P5, XPeng’s smart family sedan, the world’s first mass-produced light detection and ranging (LIDAR) equipped Smart EV. The P5 will officially be launched in China in September 2021 with deliveries starting in the fourth quarter of 2021. The P5 will be equipped with advanced driver-assistance system features powered by XPeng’s full-stack in-house developed XPILOT 3.5 advanced driver-assistance system, which extended the Navigation Guided Pilot (NGP) function for highways and expressways to include major urban roads, traffic intersections and other complex city driving scenarios.</p>\n<p><b>Release of Valet Parking Assist (VPA)</b></p>\n<p>In June 2021, XPeng rolled out Valet Parking Assist, one of the most advanced automated parking function in the Chinese market, which memorizes locations and layouts of frequently used parking spots and enables advanced driver-assistance system for such parking lots.</p>\n<p><b>Unaudited Financial Results For the Three Months Ended June 30, 2021</b></p>\n<p><b>Total revenues</b>&nbsp;were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.</p>\n<p><i>Revenues from vehicle sales</i>were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020 and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021. The year-over-year increase was mainly due to higher vehicle delivery especially for the P7, which started at the end of June 2020. The quarter-over-quarter increase was also attributable to the higher P7 sales as a result of seasonality, channel expansion and brand equity improvement.</p>\n<p><i>Revenues from services and others</i>were RMB176.9 million (US$27.4 million) for the second quarter of 2021, representing an increase of 256.2% from RMB49.7 million for the same period of 2020 and an increase of 25.8% from RMB140.6 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly attributed to more income from service, parts and accessory sales in line with higher accumulated vehicle sales.</p>\n<p><b>Cost of sales</b>&nbsp;was RMB3,312.7 million (US$513.1 million) for the second quarter of 2021, representing an increase of 445.7% from RMB607.0 million for the same period of 2020 and an increase of 26.4% from RMB2,621.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to the increase of vehicle deliveries as described above.</p>\n<p><b>Gross margin</b>&nbsp;was 11.9% for the second quarter of 2021, compared with negative 2.7% and 11.2% for the second quarter of 2020 and the first quarter of 2021, respectively.</p>\n<p><b>Vehicle margin</b>&nbsp;was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021. The improvement was primarily attributable to better product mix and material cost reduction.</p>\n<p><b>Research and development expenses</b>&nbsp;were RMB863.5 million (US$133.7 million) for the second quarter of 2021, representing an increase of 170.0% from RMB319.8 million for the same period of 2020 and an increase of 61.4% from RMB535.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, and (ii) higher expenses relating to the development of vehicles and related software technologies.</p>\n<p><b>Selling, general and administrative expenses</b>&nbsp;were RMB1,030.8 million (US$159.6 million) for the second quarter of 2021, representing an increase of 116.0% from RMB477.1 million for the same period of 2020 and an increase of 43.0% from RMB720.8 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, and (ii) the expansion of our sales network and associated personnel cost, and commission for franchised store sales.</p>\n<p><b>Loss from operations</b>&nbsp;was RMB1,443.2 million (US$223.5 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB903.9 million for the first quarter of 2021. The higher year-over-year and quarter-over-quarter losses were mainly attributable to higher operating expenses as described above.</p>\n<p><b>Non-GAAP loss from operations</b>, which excludes share-based compensation expenses, was RMB1,345.0 million (US$208.3 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB813.7 million for the first quarter of 2021.</p>\n<p><b>Net loss</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss</b>, which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Net loss attributable to ordinary shareholders of XPeng</b>&nbsp;was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.</p>\n<p><b>Non-GAAP net loss attributable to ordinary shareholders of XPeng</b>, which excludes share- based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.</p>\n<p><b>Basic and diluted net loss per ADS</b>&nbsp;were both RMB1.50 (US$0.23) for the second quarter of 2021, compared with RMB6.29 for the second quarter of 2020 and RMB0.99 for the first quarter of 2021.</p>\n<p><b>Non-GAAP basic and diluted net loss per ADS</b>&nbsp;were both RMB1.38 (US$0.21) for the second quarter of 2021, compared with RMB4.24 for the second quarter of 2020 and RMB0.88 for the first quarter of 2021.</p>\n<p><b>Balance Sheets</b></p>\n<p>As of June 30, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB32,871.2 million (US$5,091.1 million), compared to RMB35,342.1 million as of December 31, 2020.</p>\n<p><b>Business Outlook</b></p>\n<p>For the third quarter of 2021, the Company expects:</p>\n<ul>\n <li><b>Deliveries of vehicles</b>&nbsp;to be between 21,500 and 22,500, representing a year-over-year increase of approximately 150.6% to 162.3%.</li>\n <li><b>Total revenues</b>&nbsp;to be between RMB4.8 billion and RMB5.0 billion, representing a year-over- year increase of approximately 141.2% to 151.3%.</li>\n</ul>\n<p>The above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","09868":"小鹏汽车-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113528238","content_text":"Quarterly vehicle deliveries reached 17,398, a 439% increase year-over-year\nQuarterly total revenues reached RMB3,761.3 million, a 536.7% increase year-over-year\nQuarterly gross margin reached 11.9%\n\nXPeng Inc. today announced its unaudited financial results for the three months ended June 30, 2021.\nXpeng Motors shares rose nearly 3% in morning trading.\n\nOperational and Financial Highlights for the Three Months Ended June 30, 2021\n\nDeliveries of vehicles were 17,398 in the second quarter of 2021, reaching a record quarterly high, and representing an increase of 439% from 3,228 in the corresponding period of 2020 and an increase of 30.4% from 13,340 in the first quarter of 2021.\nDeliveries of the P7 were 11,522 in the second quarter of 2021, reaching a record quarterly high and representing an increase of 44.5% from 7,974 in the first quarter of 2021.\nAmong the total P7s delivered in the second quarter of 2021, 97% can support XPILOT 2.5 or XPILOT 3.0.\nAs of June 30, 2021, XPeng’s physical sales and service network consisted of a total of 200 stores and 64 service centers, covering 74 cities.\nAs of June 30, 2021, XPeng-branded super charging stations expanded to 231, covering 65 cities.\nTotal revenues were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.\nRevenues from vehicle sales were RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020, and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021.\nGross margin was 11.9% for the second quarter of 2021, compared with negative 2.7% for the same period of 2020 and 11.2% for the first quarter of 2021.\nVehicle margin, which is gross profit of vehicle sales as a percentage of revenues from vehicle sales, was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021.\nNet loss was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021. Excluding share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, non-GAAP net loss was RMB1,096.4 million (US$169.8 million) in the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nNet loss attributable to ordinary shareholders of XPeng was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million in the first quarter of 2021. Excluding share-based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, non-GAAP net loss attributable to ordinary shareholders of XPeng was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nBasic and diluted net loss per American depositary share (ADS) were both RMB1.50 (US$0.23) for the second quarter of 2021. Non-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021. Each ADS represents two Class A ordinary shares.\nCash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits were RMB32,871.2 million (US$5,091.1 million) as of June 30, 2021.\n\nXPeng started mass delivery of the P7 in late June 2020.\n“We delivered another record-breaking quarter with new highs recorded in several key metrics, underscoring an accelerated growth trajectory powered by our full-stack in-house technology capability,” said Mr. He Xiaopeng, Chairman and CEO of XPeng. “Notably, deliveries for the first half of 2021 exceeded the total deliveries for the full year 2020, reaching 30,738, a 459% increase year-over-year.”\n“As EV adoption in China and around the world begins to soar, we are excited to lead in this unprecedented disruption opportunity with our outstanding vehicles and fast, seamless iterations of new technologies that are shaping the mobility experience of the future,” Mr. He added.\n“Our outstanding second quarter 2021 results reflect XPeng’s leadership in China’s booming Smart EV industry where we continue to introduce innovative technology, differentiated products and premium services,” said Dr. Hongdi Brian Gu, Honorary Vice Chairman and President of XPeng. “Fueled by strong delivery performance, our second quarter 2021 revenues grew 536.7% compared with the same period of 2020. We also witnessed further improvement in our profitability. In particular, our gross margin continued its upward trend and reached 11.9% in the quarter,” Dr. Gu concluded.\nRecent Developments\nDual-primary Listing in Hong Kong\nOn July 7, 2021 (the “Listing Date”), XPeng successfully listed its Class A ordinary shares on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) (the “Listing”). The Company issued a total of 97,083,300 Class A ordinary shares in the global offering. Net proceeds from the global offering, after deducting underwriting fees and commissions were approximately HK$15,823 million, which will be used in accordance with the use of proceeds as disclosed in the prospectus of the Company published on the website of the Hong Kong Stock Exchange on June 25, 2021 (the “Prospectus”). Since the Listing Date and as at the date of this announcement, the Company has not utilized any net proceeds from the Listing.\nDeliveries in July 2021\nTotal Smart EV deliveries of XPeng reached 8,040 in July 2021, representing a 228% increase year- over-year. The July deliveries consisted of 6,054 P7s, XPeng’s smart sports sedan, and 1,986 G3s, XPeng’s compact smart sport utility vehicle (“SUV”). As of July 31, 2021, year-to-date deliveries reached 38,778, representing a 388% increase year-over-year.\nLaunch of G3i\nIn July 2021, the Company launched the G3i SUV, the new mid-cycle facelift version of the G3, with deliveries expected to start in September this year. Incorporating the P7’s proven family design language, coupled with a brand-new look, the G3i is equipped with an intelligent in-car operating system and a powerful advanced driver-assistance system.\nThe Pre-sales for P5\nIn July 2021, XPeng commenced pre-sales for its third mass-produced model, the P5, XPeng’s smart family sedan, the world’s first mass-produced light detection and ranging (LIDAR) equipped Smart EV. The P5 will officially be launched in China in September 2021 with deliveries starting in the fourth quarter of 2021. The P5 will be equipped with advanced driver-assistance system features powered by XPeng’s full-stack in-house developed XPILOT 3.5 advanced driver-assistance system, which extended the Navigation Guided Pilot (NGP) function for highways and expressways to include major urban roads, traffic intersections and other complex city driving scenarios.\nRelease of Valet Parking Assist (VPA)\nIn June 2021, XPeng rolled out Valet Parking Assist, one of the most advanced automated parking function in the Chinese market, which memorizes locations and layouts of frequently used parking spots and enables advanced driver-assistance system for such parking lots.\nUnaudited Financial Results For the Three Months Ended June 30, 2021\nTotal revenues were RMB3,761.3 million (US$582.5 million) for the second quarter of 2021, representing an increase of 536.7% from RMB590.8 million for the same period of 2020 and an increase of 27.5% from RMB2,950.9 million for the first quarter of 2021.\nRevenues from vehicle saleswere RMB3,584.4 million (US$555.1 million) for the second quarter of 2021, representing an increase of 562.4% from RMB541.1 million for the same period of 2020 and an increase of 27.5% from RMB2,810.3 million for the first quarter of 2021. The year-over-year increase was mainly due to higher vehicle delivery especially for the P7, which started at the end of June 2020. The quarter-over-quarter increase was also attributable to the higher P7 sales as a result of seasonality, channel expansion and brand equity improvement.\nRevenues from services and otherswere RMB176.9 million (US$27.4 million) for the second quarter of 2021, representing an increase of 256.2% from RMB49.7 million for the same period of 2020 and an increase of 25.8% from RMB140.6 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly attributed to more income from service, parts and accessory sales in line with higher accumulated vehicle sales.\nCost of sales was RMB3,312.7 million (US$513.1 million) for the second quarter of 2021, representing an increase of 445.7% from RMB607.0 million for the same period of 2020 and an increase of 26.4% from RMB2,621.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to the increase of vehicle deliveries as described above.\nGross margin was 11.9% for the second quarter of 2021, compared with negative 2.7% and 11.2% for the second quarter of 2020 and the first quarter of 2021, respectively.\nVehicle margin was 11.0% for the second quarter of 2021, compared with negative 5.6% for the same period of 2020 and 10.1% for the first quarter of 2021. The improvement was primarily attributable to better product mix and material cost reduction.\nResearch and development expenses were RMB863.5 million (US$133.7 million) for the second quarter of 2021, representing an increase of 170.0% from RMB319.8 million for the same period of 2020 and an increase of 61.4% from RMB535.1 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) the increase in employee compensation as a result of expanded research and development staff, and (ii) higher expenses relating to the development of vehicles and related software technologies.\nSelling, general and administrative expenses were RMB1,030.8 million (US$159.6 million) for the second quarter of 2021, representing an increase of 116.0% from RMB477.1 million for the same period of 2020 and an increase of 43.0% from RMB720.8 million for the first quarter of 2021. The year-over-year and the quarter-over-quarter increases were mainly due to (i) higher marketing, promotional and advertising expenses to support vehicle sales, and (ii) the expansion of our sales network and associated personnel cost, and commission for franchised store sales.\nLoss from operations was RMB1,443.2 million (US$223.5 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB903.9 million for the first quarter of 2021. The higher year-over-year and quarter-over-quarter losses were mainly attributable to higher operating expenses as described above.\nNon-GAAP loss from operations, which excludes share-based compensation expenses, was RMB1,345.0 million (US$208.3 million) for the second quarter of 2021, compared with RMB779.1 million for the same period of 2020 and RMB813.7 million for the first quarter of 2021.\nNet loss was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB146.0 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.\nNon-GAAP net loss, which excludes share-based compensation expenses and fair value change on derivative liabilities related to the redemption right of preferred shares, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nNet loss attributable to ordinary shareholders of XPeng was RMB1,194.6 million (US$185.0 million) for the second quarter of 2021, compared with RMB1,141.5 million for the same period of 2020 and RMB786.6 million for the first quarter of 2021.\nNon-GAAP net loss attributable to ordinary shareholders of XPeng, which excludes share- based compensation expenses, fair value change on derivative liabilities related to the redemption right of preferred shares and accretion on preferred shares to redemption value, was RMB1,096.4 million (US$169.8 million) for the second quarter of 2021, compared with RMB769.5 million for the same period of 2020 and RMB696.3 million for the first quarter of 2021.\nBasic and diluted net loss per ADS were both RMB1.50 (US$0.23) for the second quarter of 2021, compared with RMB6.29 for the second quarter of 2020 and RMB0.99 for the first quarter of 2021.\nNon-GAAP basic and diluted net loss per ADS were both RMB1.38 (US$0.21) for the second quarter of 2021, compared with RMB4.24 for the second quarter of 2020 and RMB0.88 for the first quarter of 2021.\nBalance Sheets\nAs of June 30, 2021, the Company had cash and cash equivalents, restricted cash, short-term deposits, short-term investments and long-term deposits of RMB32,871.2 million (US$5,091.1 million), compared to RMB35,342.1 million as of December 31, 2020.\nBusiness Outlook\nFor the third quarter of 2021, the Company expects:\n\nDeliveries of vehicles to be between 21,500 and 22,500, representing a year-over-year increase of approximately 150.6% to 162.3%.\nTotal revenues to be between RMB4.8 billion and RMB5.0 billion, representing a year-over- year increase of approximately 141.2% to 151.3%.\n\nThe above outlook is based on the current market conditions and reflects the Company’s preliminary estimates of market and operating conditions, and customer demand, which are all subject to change.","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838516665,"gmtCreate":1629418910957,"gmtModify":1676530032686,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"The fact is - these companies are still making tonnes of money, and there’s no sign of drastic slowdown&nbsp;","listText":"The fact is - these companies are still making tonnes of money, and there’s no sign of drastic slowdown&nbsp;","text":"The fact is - these companies are still making tonnes of money, and there’s no sign of drastic slowdown","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838516665","repostId":"1127010631","repostType":4,"repost":{"id":"1127010631","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":1629380357,"share":"https://ttm.financial/m/news/1127010631?lang=&edition=fundamental","pubTime":"2021-08-19 21:39","market":"us","language":"en","title":"Some China concepts stocks tumbled in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1127010631","media":"Tiger Newspress","summary":"(Aug 19) Some China concepts stocks tumbled in morning trading. \nChinese technology stocks sold off,","content":"<p>(Aug 19)&nbsp;Some China concepts stocks tumbled in morning trading.&nbsp;</p>\n<p>Chinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.</p>\n<p><img src=\"https://static.tigerbbs.com/e4310f534d8b053edff53a4c9e0acd6f\" tg-width=\"275\" tg-height=\"766\" referrerpolicy=\"no-referrer\"></p>\n<p></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>Some China concepts stocks tumbled in morning trading</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSome China concepts stocks tumbled in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-19 21:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Aug 19)&nbsp;Some China concepts stocks tumbled in morning trading.&nbsp;</p>\n<p>Chinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.</p>\n<p><img src=\"https://static.tigerbbs.com/e4310f534d8b053edff53a4c9e0acd6f\" tg-width=\"275\" tg-height=\"766\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127010631","content_text":"(Aug 19) Some China concepts stocks tumbled in morning trading. \nChinese technology stocks sold off, led by some of the country’s Internet giants, after two government ministries said they were likely to impose additional regulations on the sector.","news_type":1},"isVote":1,"tweetType":1,"viewCount":135,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":839691297,"gmtCreate":1629155248519,"gmtModify":1676529945064,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Size your allocation and buy gradually&nbsp;","listText":"Size your allocation and buy gradually&nbsp;","text":"Size your allocation and buy gradually","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/839691297","repostId":"1133200546","repostType":4,"isVote":1,"tweetType":1,"viewCount":48,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":861068706,"gmtCreate":1632443291905,"gmtModify":1676530783285,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Looks like a better buy than First Resources&nbsp;","listText":"Looks like a better buy than First Resources&nbsp;","text":"Looks like a better buy than First Resources","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/861068706","repostId":"1148130438","repostType":4,"repost":{"id":"1148130438","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":1632412797,"share":"https://ttm.financial/m/news/1148130438?lang=&edition=fundamental","pubTime":"2021-09-23 23:59","market":"us","language":"en","title":"Sterling Check opens for trading at $27.1, up about 18% from IPO price","url":"https://stock-news.laohu8.com/highlight/detail?id=1148130438","media":"Tiger Newspress","summary":"(Sept 23) Sterling Check Corp. opens for trading at $27.1, up about 18% from IPO price.\nCompany & Te","content":"<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/STER\">Sterling Check Corp.</a> opens for trading at $27.1, up about 18% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/cc3f51dd719989f02bf56c538ce17c72\" tg-width=\"904\" tg-height=\"560\" referrerpolicy=\"no-referrer\"><b>Company &amp; Technology</b></p>\n<p>New York-based Sterling was founded to develop a full suite of background screening, verifications and ongoing monitoring services for businesses.</p>\n<p>Management is headed by Chief Executive Officer Joshua Peirez, who has been with the firm since July 2018 and was previously president and COO of Dun &amp; Bradstreet and held senior roles at Mastercard prior to that.</p>\n<p>The company’s primary offering categories include:</p>\n<ul>\n <li><p>Identity verification</p></li>\n <li><p>Background screening</p></li>\n <li><p>Credential verifications</p></li>\n <li><p>Onboarding</p></li>\n <li><p>Ongoing monitoring</p></li>\n</ul>\n<p>Sterling has received at least $775 million in equity investment from investors including Goldman Sachs and The Greenblatt Trusts.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues large clients through a direct sales team approach organized by industry vertical and region.</p>\n<p>For the 12 months ended June 30, 2021, the firm's platform performed over 75 million searches for over 40,000 clients.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have dropped as revenues have fluctuated, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</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>22.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>27.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>29.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>The Selling, G&amp;A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&amp;A spend, rebounded to 1.3x 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, G&amp;A</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>1.3</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>-0.4</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</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>STER’s most recent calculation was 51% for the six months ended June 30, 2021, so the firm has performed 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>44%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>51%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby The Insight Partners, the global employment screening market, one of the firm's focus areas, was an estimated $4.2 billion in 2020 and is forecast to reach $6.4 billion by 2028.</p>\n<p>This represents a forecast CAGR of 5.5% from 2021 to 2028.</p>\n<p>The main drivers for this expected growth are increased populations in urban areas resulting in greater job opportunities and employee demand and a growing incidence of application fraud or inflation.</p>\n<p>Also, the number of applicants for each job opening has increased along with a larger number of contract, temporary and 'gig economy' workers.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li><p>First Advantage</p></li>\n <li><p>HireRight</p></li>\n <li><p>Accurate Background</p></li>\n <li><p>ADP</p></li>\n <li><p>Cisive</p></li>\n <li><p>Checkr</p></li>\n <li><p>DISA</p></li>\n <li><p>Triton</p></li>\n <li><p>Other smaller players</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Sterling’s recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Rebounding topline revenue growth</p></li>\n <li><p>Variable gross profit growth</p></li>\n <li><p>Slightly reduced gross margin</p></li>\n <li><p>A swing to operating profit and net income</p></li>\n <li><p>Growing cash flow from operations in 2021</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 298,698,000</p></td>\n   <td><p>43.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 454,053,000</p></td>\n   <td><p>-8.7%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 497,116,000</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>$ 155,539,000</p></td>\n   <td><p>41.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 236,743,000</p></td>\n   <td><p>-14.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 275,769,000</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>52.07%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>52.14%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>55.47%</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>$ 23,204,000</p></td>\n   <td><p>7.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (23,103,000)</p></td>\n   <td><p>-5.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (13,374,000)</p></td>\n   <td><p>-2.7%</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>$ 4,025,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (52,293,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (46,682,000)</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>$ 45,290,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 36,185,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 36,204,000</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)</p>\n<p>As of June 30, 2021, Sterling had $94.3 million in cash and $744.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $45 million.</p>\n<p><b>IPO Details</b></p>\n<p>STER intends to sell 4.76 million shares and selling shareholders will offer 9.525 million shares of common stock at a proposed midpoint price of $21.00 per share for gross proceeds of approximately $300 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO 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 $2.4 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 15.2%. 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 currently intend to use the net proceeds to us from this offering, together with cash on hand, to repay approximately $100.0 million outstanding under our Term loan. We intend to use the remainder, if any, of the net proceeds to us from this offering for general corporate purposes.\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management said the firm is not a party to any legal proceedings that it believes would be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Morgan Stanley 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>$1,973,227,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$2,401,254,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>3.62</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>4.41</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>122.06</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>-$0.08</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>15.20%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$21.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$44,998,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>2.28%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>43.64%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>As a reference, a potential public comparable would be First Advantage(NASDAQ:FA); 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>First Advantage</b></p></td>\n   <td><p><b>Sterling Check</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>5.76</p></td>\n   <td><p>3.62</p></td>\n   <td><p>-37.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>6.53</p></td>\n   <td><p>4.41</p></td>\n   <td><p>-32.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>23.41</p></td>\n   <td><p>122.06</p></td>\n   <td><p>421.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.04</p></td>\n   <td><p>-$0.08</p></td>\n   <td><p>-293.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>19.2%</p></td>\n   <td><p>43.64%</p></td>\n   <td><p>127.89%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(S-1/AandSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>STER is going public to obtain investment to pay down some of its debt and for its corporate expansion initiatives.</p>\n<p>The firm’s financials show rebounding topline revenue growth, uneven gross profit growth, a swing to operating profit and net income and growing cash flow from operations in 2021.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was an impressive $45 million.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have trended lower as revenue has varied and its Selling, G&amp;A efficiency rate rebounded to 1.3x in the most recent six-month reporting period.</p>\n<p>The market opportunity for providing background checks and related services is large and expected to grow at a moderate CAGR Of 5.5% in the coming years, although the continued transition to a decentralized workforce may increase demand a bit above this estimate.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 37.3% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The general business cycle - when companies hire fewer workers during down economic periods, demand for the company’s services will decline.</p>\n<p>While Sterling is not immune to the ups and downs of the business cycle and potential future pandemic variant effects on economic activity, the firm has rebounded impressively and appears positioned to compete in a growing market.</p>\n<p>As for valuation, compared to First Advantage, which went public earlier in 2021 and performed since its debut, STER appears reasonably valued on a revenue multiple basis as the firm is growing revenue at a faster rate. STER is nearing EPS breakeven.</p>\n<p>Given the company’s strong rebound after the 2020 pandemic period and reasonable IPO valuation, the IPO is worth a close look.</p>\n<p></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>Sterling Check opens for trading at $27.1, up about 18% 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; 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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\">\nSterling Check opens for trading at $27.1, up about 18% 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 23:59</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/STER\">Sterling Check Corp.</a> opens for trading at $27.1, up about 18% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/cc3f51dd719989f02bf56c538ce17c72\" tg-width=\"904\" tg-height=\"560\" referrerpolicy=\"no-referrer\"><b>Company &amp; Technology</b></p>\n<p>New York-based Sterling was founded to develop a full suite of background screening, verifications and ongoing monitoring services for businesses.</p>\n<p>Management is headed by Chief Executive Officer Joshua Peirez, who has been with the firm since July 2018 and was previously president and COO of Dun &amp; Bradstreet and held senior roles at Mastercard prior to that.</p>\n<p>The company’s primary offering categories include:</p>\n<ul>\n <li><p>Identity verification</p></li>\n <li><p>Background screening</p></li>\n <li><p>Credential verifications</p></li>\n <li><p>Onboarding</p></li>\n <li><p>Ongoing monitoring</p></li>\n</ul>\n<p>Sterling has received at least $775 million in equity investment from investors including Goldman Sachs and The Greenblatt Trusts.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues large clients through a direct sales team approach organized by industry vertical and region.</p>\n<p>For the 12 months ended June 30, 2021, the firm's platform performed over 75 million searches for over 40,000 clients.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have dropped as revenues have fluctuated, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling, G&amp;A</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>22.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>27.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>29.6%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>The Selling, G&amp;A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&amp;A spend, rebounded to 1.3x 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, G&amp;A</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>1.3</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>-0.4</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</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>STER’s most recent calculation was 51% for the six months ended June 30, 2021, so the firm has performed 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>44%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>8%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>51%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby The Insight Partners, the global employment screening market, one of the firm's focus areas, was an estimated $4.2 billion in 2020 and is forecast to reach $6.4 billion by 2028.</p>\n<p>This represents a forecast CAGR of 5.5% from 2021 to 2028.</p>\n<p>The main drivers for this expected growth are increased populations in urban areas resulting in greater job opportunities and employee demand and a growing incidence of application fraud or inflation.</p>\n<p>Also, the number of applicants for each job opening has increased along with a larger number of contract, temporary and 'gig economy' workers.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li><p>First Advantage</p></li>\n <li><p>HireRight</p></li>\n <li><p>Accurate Background</p></li>\n <li><p>ADP</p></li>\n <li><p>Cisive</p></li>\n <li><p>Checkr</p></li>\n <li><p>DISA</p></li>\n <li><p>Triton</p></li>\n <li><p>Other smaller players</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Sterling’s recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Rebounding topline revenue growth</p></li>\n <li><p>Variable gross profit growth</p></li>\n <li><p>Slightly reduced gross margin</p></li>\n <li><p>A swing to operating profit and net income</p></li>\n <li><p>Growing cash flow from operations in 2021</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 298,698,000</p></td>\n   <td><p>43.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 454,053,000</p></td>\n   <td><p>-8.7%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 497,116,000</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>$ 155,539,000</p></td>\n   <td><p>41.9%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 236,743,000</p></td>\n   <td><p>-14.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 275,769,000</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>52.07%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>52.14%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>55.47%</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>$ 23,204,000</p></td>\n   <td><p>7.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (23,103,000)</p></td>\n   <td><p>-5.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (13,374,000)</p></td>\n   <td><p>-2.7%</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>$ 4,025,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (52,293,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (46,682,000)</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>$ 45,290,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 36,185,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 36,204,000</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)</p>\n<p>As of June 30, 2021, Sterling had $94.3 million in cash and $744.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $45 million.</p>\n<p><b>IPO Details</b></p>\n<p>STER intends to sell 4.76 million shares and selling shareholders will offer 9.525 million shares of common stock at a proposed midpoint price of $21.00 per share for gross proceeds of approximately $300 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO 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 $2.4 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 15.2%. 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 currently intend to use the net proceeds to us from this offering, together with cash on hand, to repay approximately $100.0 million outstanding under our Term loan. We intend to use the remainder, if any, of the net proceeds to us from this offering for general corporate purposes.\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management said the firm is not a party to any legal proceedings that it believes would be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Morgan Stanley 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>$1,973,227,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$2,401,254,914</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>3.62</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>4.41</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>122.06</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>-$0.08</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>15.20%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$21.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$44,998,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>2.28%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>43.64%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(Source)</p>\n<p>As a reference, a potential public comparable would be First Advantage(NASDAQ:FA); 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>First Advantage</b></p></td>\n   <td><p><b>Sterling Check</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>5.76</p></td>\n   <td><p>3.62</p></td>\n   <td><p>-37.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>6.53</p></td>\n   <td><p>4.41</p></td>\n   <td><p>-32.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>23.41</p></td>\n   <td><p>122.06</p></td>\n   <td><p>421.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.04</p></td>\n   <td><p>-$0.08</p></td>\n   <td><p>-293.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>19.2%</p></td>\n   <td><p>43.64%</p></td>\n   <td><p>127.89%</p></td>\n  </tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>(S-1/AandSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>STER is going public to obtain investment to pay down some of its debt and for its corporate expansion initiatives.</p>\n<p>The firm’s financials show rebounding topline revenue growth, uneven gross profit growth, a swing to operating profit and net income and growing cash flow from operations in 2021.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was an impressive $45 million.</p>\n<p>Selling, G&amp;A expenses as a percentage of total revenue have trended lower as revenue has varied and its Selling, G&amp;A efficiency rate rebounded to 1.3x in the most recent six-month reporting period.</p>\n<p>The market opportunity for providing background checks and related services is large and expected to grow at a moderate CAGR Of 5.5% in the coming years, although the continued transition to a decentralized workforce may increase demand a bit above this estimate.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 37.3% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The general business cycle - when companies hire fewer workers during down economic periods, demand for the company’s services will decline.</p>\n<p>While Sterling is not immune to the ups and downs of the business cycle and potential future pandemic variant effects on economic activity, the firm has rebounded impressively and appears positioned to compete in a growing market.</p>\n<p>As for valuation, compared to First Advantage, which went public earlier in 2021 and performed since its debut, STER appears reasonably valued on a revenue multiple basis as the firm is growing revenue at a faster rate. STER is nearing EPS breakeven.</p>\n<p>Given the company’s strong rebound after the 2020 pandemic period and reasonable IPO valuation, the IPO is worth a close look.</p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STER":"Sterling Check Corp."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148130438","content_text":"(Sept 23) Sterling Check Corp. opens for trading at $27.1, up about 18% from IPO price.\nCompany & Technology\nNew York-based Sterling was founded to develop a full suite of background screening, verifications and ongoing monitoring services for businesses.\nManagement is headed by Chief Executive Officer Joshua Peirez, who has been with the firm since July 2018 and was previously president and COO of Dun & Bradstreet and held senior roles at Mastercard prior to that.\nThe company’s primary offering categories include:\n\nIdentity verification\nBackground screening\nCredential verifications\nOnboarding\nOngoing monitoring\n\nSterling has received at least $775 million in equity investment from investors including Goldman Sachs and The Greenblatt Trusts.\nCustomer Acquisition\nThe firm pursues large clients through a direct sales team approach organized by industry vertical and region.\nFor the 12 months ended June 30, 2021, the firm's platform performed over 75 million searches for over 40,000 clients.\nSelling, G&A expenses as a percentage of total revenue have dropped as revenues have fluctuated, as the figures below indicate:\n\n\n\n\nSelling, G&A\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n22.8%\n\n\n2020\n27.0%\n\n\n2019\n29.6%\n\n\n\n(Source)\nThe Selling, G&A efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling, G&A spend, rebounded to 1.3x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling, G&A\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.3\n\n\n2020\n-0.4\n\n\n\n(Source)\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.\nSTER’s most recent calculation was 51% for the six months ended June 30, 2021, so the firm has performed well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n44%\n\n\nEBITDA %\n8%\n\n\nTotal\n51%\n\n\n\n(Source)\nMarket & Competition\nAccording to a 2021 marketresearch reportby The Insight Partners, the global employment screening market, one of the firm's focus areas, was an estimated $4.2 billion in 2020 and is forecast to reach $6.4 billion by 2028.\nThis represents a forecast CAGR of 5.5% from 2021 to 2028.\nThe main drivers for this expected growth are increased populations in urban areas resulting in greater job opportunities and employee demand and a growing incidence of application fraud or inflation.\nAlso, the number of applicants for each job opening has increased along with a larger number of contract, temporary and 'gig economy' workers.\nMajor competitive or other industry participants include:\n\nFirst Advantage\nHireRight\nAccurate Background\nADP\nCisive\nCheckr\nDISA\nTriton\nOther smaller players\n\nFinancial Performance\nSterling’s recent financial results can be summarized as follows:\n\nRebounding topline revenue growth\nVariable gross profit growth\nSlightly reduced gross margin\nA swing to operating profit and net income\nGrowing cash flow from operations in 2021\n\nBelow are relevant financial results derived from the firm’s registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 298,698,000\n43.6%\n\n\n2020\n$ 454,053,000\n-8.7%\n\n\n2019\n$ 497,116,000\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$ 155,539,000\n41.9%\n\n\n2020\n$ 236,743,000\n-14.2%\n\n\n2019\n$ 275,769,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n52.07%\n\n\n2020\n52.14%\n\n\n2019\n55.47%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 23,204,000\n7.8%\n\n\n2020\n$ (23,103,000)\n-5.1%\n\n\n2019\n$ (13,374,000)\n-2.7%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 4,025,000\n\n\n2020\n$ (52,293,000)\n\n\n2019\n$ (46,682,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 45,290,000\n\n\n2020\n$ 36,185,000\n\n\n2019\n$ 36,204,000\n\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nAs of June 30, 2021, Sterling had $94.3 million in cash and $744.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $45 million.\nIPO Details\nSTER intends to sell 4.76 million shares and selling shareholders will offer 9.525 million shares of common stock at a proposed midpoint price of $21.00 per share for gross proceeds of approximately $300 million, not including the sale of customary underwriter options.\nNo existing shareholders have indicated an interest to purchase shares at the IPO 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 $2.4 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 15.2%. 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 currently intend to use the net proceeds to us from this offering, together with cash on hand, to repay approximately $100.0 million outstanding under our Term loan. We intend to use the remainder, if any, of the net proceeds to us from this offering for general corporate purposes.\n\nManagement’s presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management said the firm is not a party to any legal proceedings that it believes would be material to its operations or financial condition.\nListed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Morgan Stanley 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$1,973,227,914\n\n\nEnterprise Value\n$2,401,254,914\n\n\nPrice / Sales\n3.62\n\n\nEV / Revenue\n4.41\n\n\nEV / EBITDA\n122.06\n\n\nEarnings Per Share\n-$0.08\n\n\nFloat To Outstanding Shares Ratio\n15.20%\n\n\nProposed IPO Midpoint Price per Share\n$21.00\n\n\nNet Free Cash Flow\n$44,998,000\n\n\nFree Cash Flow Yield Per Share\n2.28%\n\n\nRevenue Growth Rate\n43.64%\n\n\n(Glossary Of Terms)\n\n\n\n(Source)\nAs a reference, a potential public comparable would be First Advantage(NASDAQ:FA); shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nFirst Advantage\nSterling Check\nVariance\n\n\nPrice / Sales\n5.76\n3.62\n-37.1%\n\n\nEV / Revenue\n6.53\n4.41\n-32.5%\n\n\nEV / EBITDA\n23.41\n122.06\n421.4%\n\n\nEarnings Per Share\n$0.04\n-$0.08\n-293.0%\n\n\nRevenue Growth Rate\n19.2%\n43.64%\n127.89%\n\n\n(Glossary Of Terms)\n\n\n\n(S-1/AandSeeking Alpha)\nCommentary\nSTER is going public to obtain investment to pay down some of its debt and for its corporate expansion initiatives.\nThe firm’s financials show rebounding topline revenue growth, uneven gross profit growth, a swing to operating profit and net income and growing cash flow from operations in 2021.\nFree cash flow for the twelve months ended June 30, 2021, was an impressive $45 million.\nSelling, G&A expenses as a percentage of total revenue have trended lower as revenue has varied and its Selling, G&A efficiency rate rebounded to 1.3x in the most recent six-month reporting period.\nThe market opportunity for providing background checks and related services is large and expected to grow at a moderate CAGR Of 5.5% in the coming years, although the continued transition to a decentralized workforce may increase demand a bit above this estimate.\nGoldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 37.3% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe general business cycle - when companies hire fewer workers during down economic periods, demand for the company’s services will decline.\nWhile Sterling is not immune to the ups and downs of the business cycle and potential future pandemic variant effects on economic activity, the firm has rebounded impressively and appears positioned to compete in a growing market.\nAs for valuation, compared to First Advantage, which went public earlier in 2021 and performed since its debut, STER appears reasonably valued on a revenue multiple basis as the firm is growing revenue at a faster rate. STER is nearing EPS breakeven.\nGiven the company’s strong rebound after the 2020 pandemic period and reasonable IPO valuation, the IPO is worth a close look.","news_type":1},"isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860665182,"gmtCreate":1632177468146,"gmtModify":1676530716154,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Fed got no intention to tank the market. Most likely business as normal","listText":"Fed got no intention to tank the market. Most likely business as normal","text":"Fed got no intention to tank the market. Most likely business as normal","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/860665182","repostId":"1196172424","repostType":4,"repost":{"id":"1196172424","pubTimestamp":1632105381,"share":"https://ttm.financial/m/news/1196172424?lang=&edition=fundamental","pubTime":"2021-09-20 10:36","market":"us","language":"en","title":"The One Indicator That Has Wall Street Biting Its Nails","url":"https://stock-news.laohu8.com/highlight/detail?id=1196172424","media":"Barrons","summary":"The stock market dropped because there’s something scarier than taxes, tapers, and contagion.","content":"<p>Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.</p>\n<p>The predictions of impending doom from Wall Street’s talking heads continued this past week. The reasons for a pullback are many: The stock market has rallied for too long and has gone up too smoothly, the Federal Reserve is about to remove the bond buying that has helped prop markets up, taxes are ready to rise, economic data are slowing. None of it really left a mark.</p>\n<p>But then the&nbsp;S&amp;P 500&nbsp;dropped 0.6%, to 4432.99, over the week, while the&nbsp;Dow Jones Industrial Average&nbsp;fell 0.1%, to 34,584.88, and the&nbsp;Nasdaq Composite&nbsp;slumped 0.5%, to 15,043.97. For the S&amp;P 500, it was the first close since June 18 below its 50-day moving average—a technical measure of the previous 50 days’ closes that often ends up acting as support or resistance and that currently sits at 4436.35. For traders, it was very frightening.</p>\n<p>That the drop also occurred on options expiration day—when options bets expire and are rolled over, typically a volatile day—also makes the moment fraught. Since May, options expiration has been the time for the S&amp;P 500 to make a quick test of its 50-day moving average before a bounce higher. And when I say quick, I mean quick, as it usually took the index a day, maybe two, to rebound.</p>\n<p>“The 50-Day MA discussion has been pounded into our heads with every drawdown,” writes Frank Cappelleri, desk strategist at Instinet. “And while we may be sick of hearing about it, the dip buying around the line has been a real phenomenon.”</p>\n<p>This time has a different feel to it. The S&amp;P 500’s sojourn near the 50-day has been longer, notes Jonathan Krinsky, chief market technician at Bay Crest Partners. It’s been sitting near it for about six trading days now, without a big drop or big bounce. “The current set-up looks a bit more like a consolidation on the 50 DMA, as opposed to the prior quick ‘V-shaped’ dips,” Krinsky writes. “What we are saying is that the current way in which we got here feels a bit different than the last four to five times.”</p>\n<p>Still, Krinsky acknowledges that one close below the 50-day isn’t enough to panic. That’s because the S&amp;P 500 has now gone 218 days without two closes below the average, the second-longest streak since 1990. We won’t know if that streak breaks until the end of trading on Monday.</p>\n<p>The market has plenty of excuses to break the 50-day, if it’s so inclined. Maybe Evergrande (ticker: 3333.Hong Kong), the troubled Chinese property developer, will prove to be a Lehman moment and bring the world’s markets down with it. Maybe the Fed will surprise everyone and start tapering this coming week. Maybe something is lurking out there like the Baba Yaga of the old fairy tales, and maybe it looks a lot like Keanu Reeves.</p>\n<p>But perhaps all the September weakness and worry are a good thing, setting the market up for its next run. “The ACWI is oversold again, and sentiment is not too optimistic,” writes Ned Davis Research’s Tim Hayes, commenting on the MSCI All-Country World Index. “The market’s resilience in the face of the negative September seasonality could be the preview of a bullish response to seasonal tendencies that turn favorable in the fourth quarter.”</p>\n<p>We just have to get there first.</p>","source":"lsy1601382232898","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>The One Indicator That Has Wall Street Biting Its Nails</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\">\nThe One Indicator That Has Wall Street Biting Its Nails\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-20 10:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.\nThe predictions of impending doom from Wall Street’s talking heads continued this past ...</p>\n\n<a href=\"https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.barrons.com/articles/stock-market-falls-because-theres-something-scarier-than-taxes-tapers-and-contagion-51631925838?mod=hp_DAY_7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196172424","content_text":"Wall Street has found something scarier than tapering,axes,and contagion. It’s called the 50-day moving average.\nThe predictions of impending doom from Wall Street’s talking heads continued this past week. The reasons for a pullback are many: The stock market has rallied for too long and has gone up too smoothly, the Federal Reserve is about to remove the bond buying that has helped prop markets up, taxes are ready to rise, economic data are slowing. None of it really left a mark.\nBut then the S&P 500 dropped 0.6%, to 4432.99, over the week, while the Dow Jones Industrial Average fell 0.1%, to 34,584.88, and the Nasdaq Composite slumped 0.5%, to 15,043.97. For the S&P 500, it was the first close since June 18 below its 50-day moving average—a technical measure of the previous 50 days’ closes that often ends up acting as support or resistance and that currently sits at 4436.35. For traders, it was very frightening.\nThat the drop also occurred on options expiration day—when options bets expire and are rolled over, typically a volatile day—also makes the moment fraught. Since May, options expiration has been the time for the S&P 500 to make a quick test of its 50-day moving average before a bounce higher. And when I say quick, I mean quick, as it usually took the index a day, maybe two, to rebound.\n“The 50-Day MA discussion has been pounded into our heads with every drawdown,” writes Frank Cappelleri, desk strategist at Instinet. “And while we may be sick of hearing about it, the dip buying around the line has been a real phenomenon.”\nThis time has a different feel to it. The S&P 500’s sojourn near the 50-day has been longer, notes Jonathan Krinsky, chief market technician at Bay Crest Partners. It’s been sitting near it for about six trading days now, without a big drop or big bounce. “The current set-up looks a bit more like a consolidation on the 50 DMA, as opposed to the prior quick ‘V-shaped’ dips,” Krinsky writes. “What we are saying is that the current way in which we got here feels a bit different than the last four to five times.”\nStill, Krinsky acknowledges that one close below the 50-day isn’t enough to panic. That’s because the S&P 500 has now gone 218 days without two closes below the average, the second-longest streak since 1990. We won’t know if that streak breaks until the end of trading on Monday.\nThe market has plenty of excuses to break the 50-day, if it’s so inclined. Maybe Evergrande (ticker: 3333.Hong Kong), the troubled Chinese property developer, will prove to be a Lehman moment and bring the world’s markets down with it. Maybe the Fed will surprise everyone and start tapering this coming week. Maybe something is lurking out there like the Baba Yaga of the old fairy tales, and maybe it looks a lot like Keanu Reeves.\nBut perhaps all the September weakness and worry are a good thing, setting the market up for its next run. “The ACWI is oversold again, and sentiment is not too optimistic,” writes Ned Davis Research’s Tim Hayes, commenting on the MSCI All-Country World Index. “The market’s resilience in the face of the negative September seasonality could be the preview of a bullish response to seasonal tendencies that turn favorable in the fourth quarter.”\nWe just have to get there first.","news_type":1},"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817490148,"gmtCreate":1630978676084,"gmtModify":1676530432558,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"So the conclusion is rotate the funds from growth stocks to value, right?","listText":"So the conclusion is rotate the funds from growth stocks to value, right?","text":"So the conclusion is rotate the funds from growth stocks to value, right?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/817490148","repostId":"1186375251","repostType":4,"repost":{"id":"1186375251","pubTimestamp":1630909435,"share":"https://ttm.financial/m/news/1186375251?lang=&edition=fundamental","pubTime":"2021-09-06 14:23","market":"us","language":"en","title":"3 Golden Rules On How To Invest At All-Time Highs","url":"https://stock-news.laohu8.com/highlight/detail?id=1186375251","media":"seekingalpha","summary":"Summary\n\nMarkets continue to reach new all-time highs each week and have not seen a notable correcti","content":"<p><b>Summary</b></p>\n<ul>\n <li>Markets continue to reach new all-time highs each week and have not seen a notable correction in over 200 trading days.</li>\n <li>As markets are rallying, many investors are starting to rest on their laurels while investment decisions at all-time highs are actually more important than ever.</li>\n <li>What should you be aware of in today's market? Should you sell out at these overvalued prices or can you still generate great returns by buying today?</li>\n <li>In this article, I will share my three golden rules on how to invest at all-time highs like today. This information will be very valuable for your future wealth generation in the market.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f5f0c9f1aacfbc6d8c78d0e84da5fc9\" tg-width=\"1536\" tg-height=\"878\" width=\"100%\" height=\"auto\"><span>phive2015/iStock via Getty Images</span></p>\n<p>The stock market has been on a rampage in 2021. At the end of August, the S&amp;P 500 index (SPY) gained 20.4% year-to-date. Interestingly, the index has been trading in a very tight upward range and has not seen a 5% correction for 208 trading days. While most investors don't see this as an anomaly, it actually is. Both events have only occurred 7 times before in stock market history. We are clearly living in abnormal times.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c58ccc72065c84083443d6be7f03482a\" tg-width=\"640\" tg-height=\"322\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities with Tradingview</span></p>\n<p>Each day it is important to think thoroughly about the investment decisions you make. Above all, all purchases or sales will impact your future wealth accumulation in the market.</p>\n<p>However, during extreme rallies like today it is twice as important to reflect on your investment decisions. Ask that to investors who took high risks during the dot-com bubble or panic sold during the Covid-19 crash. That undoubtedly had an immense impact on their long-term returns.</p>\n<p>The importance of investment decisions today for your long-term returns is why I chose to write about my three golden rules on how to invest at all-time highs. How should you approach today's market and what should you be aware of? Should you sell out at these overvalued prices and wait for a correction to take place or can you still generate great returns when buying at these levels? The answers to these one-million-dollar questions will be provided in this article.</p>\n<p><b>1. Don't get caught by greediness</b></p>\n<p>Let's start off with the most important rule. Avoid greediness.</p>\n<p>According to JPMorgan, over the past 20 years, the average investor reached an annual return of only 2.9%. As such, they significantly underperformed the general market as the S&amp;P 500 yielded an annual 7.5% return during this time frame.</p>\n<p>The single most important reason for this retail investor underperformance? Emotional human behavior.</p>\n<p>The average investor is getting influenced heavily by media headlines, stock prices movements and behavior from other investors.</p>\n<p>Today, we reached an extremely bullish stock market environment. Last earnings season has been one of the greatest in stock market history. The S&amp;P 500 EPS rose by 94.5% YoY and 86.1% of its constituents beat analyst estimates.</p>\n<p>As a consequence of this bullish environment, analysts are significantly raising their estimates for the next quarters. They now expect EPS to rise sharply to $217.96 by the end of 2022, which is a significant recovery from the pre-pandemic high of $157.12. Such a recovery looks to be optimistic as it took 7-12 years in the past economic cycles to achieve this:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1accc921d16b11ec13ed94686b9cfe75\" tg-width=\"640\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities based on S&amp;P Global data; adjusted EPS is used</span></p>\n<p>Will earnings really continue this very strong recovery over the coming quarters or are analysts perhaps getting too greedy with their assumptions?</p>\n<p>It wouldn't be the first time if they were too greedy. During the dot-com bubble for example, they were caught by their emotions as well. The '90s was an abnormally strong decade in terms of earnings growth for the S&amp;P 500. As such, analysts totally forgot that downward cycles exist as well. They increased their annual EPS growth guidance to a staggering 15% for the five years following 2000. According to them, this high growth rate justified the record P/E multiples stocks were trading at and many investors got tricked into that story.</p>\n<p>What happened afterwards? The economy didn't boom, it fell into a recession which took 3 years to recover from. Earnings in 2003 were almost 50% lower than what analysts had been predicting in 2000.</p>\n<p>As markets were priced to analyst expectations instead of taking into account a possible downturn, the S&amp;P 500 crashed and took 7 years to recover.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0081f4a9c3ee43b20684f113cb04ef9c\" tg-width=\"640\" tg-height=\"467\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities based on S&amp;P Global data and Yardeni; adjusted EPS is used</span></p>\n<p>Let's get back to today... The P/E of the S&amp;P 500 currently stands at 25.4x, which is extremely high compared to historical levels. This gets justified by the common belief that earnings will continue rising significantly. As such, the ratio would fall to an acceptable 20.7x by the end of 2022.</p>\n<p>Now ask yourself how likely it is that earnings growth will continue to grow at higher levels than the historical average over the coming quarters.</p>\n<p>Interest rates are already at 0%. The money printer is running out of paper. Federal debt levels are hitting their ceilings. Pent-up demand and stimuli cheques already led to record-high consumer spending over the past quarters.</p>\n<p>Maybe, just maybe, analysts are being too greedy with their assumptions? Maybe the recent economic recovery is unsustainable and set to cool down? Maybe my assumptions (grey line) are much more likely than what the market is predicting (red line)? If so, the market is trading at a fwd 2022 P/E of 23.6x, which is really expensive.</p>\n<p>I'm not sure this will happen, nobody is. But it sure as hell is a probability.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f61310c3c851b181ceb1fb3cc8862fdb\" tg-width=\"640\" tg-height=\"465\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities based on S&amp;P Global data and Yardeni; adjusted EPS is used</span></p>\n<p>This greediness also gets reflected in the charts. As you can see in the chart below, a bull market can be split into four cycles. Strong growth, bear trap, media attention and greed.</p>\n<p>Interestingly, the 2013-2021 bull market is playing out almost identically as the 1994-2000 bull market. At this moment, the Nasdaq Index (QQQ) looks to be ready to start the last extreme greed phase. The media is approaching the recent rally as \"the new normal\" and investors are FOMO buying heavily because stocks \"can only go up\". As such, it is likely that the Nasdaq will rise close to $20,000 in the last months of 2021.</p>\n<p>As a long-term investor, it is extremely important to understand these dynamics. You will probably feel the urge to go all-in in risky assets as well. However, getting greedy during this phase could be a major threat for your long term returns as it will likely be followed by a major bear market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c783bf0cff4c410846a27c2dc8c180b1\" tg-width=\"640\" tg-height=\"499\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities with Tradingview</span></p>\n<p>Human behavior makes it extremely challenging to not get distracted by market sentiment. If you can keep an objective view on markets, it will benefit your returns drastically.</p>\n<p>2. Keep investing, there are always opportunities</p>\n<p>In short, rule #1 says that your decisions should never be led by emotions and that you should keep focusing on underlying fundamentals. As the market is getting greedy today and valuations reach extreme levels it implies that you should start selling stocks and hold a lot of cash, right?</p>\n<p>Not really... You know, a wise man once said the following:</p>\n<blockquote>\n <b>It's a market of stocks, not a stock market.</b>\n</blockquote>\n<p>I'm not entirely sure who came up with it. But it must be a wise man, for sure.</p>\n<p>What does it mean? Look, many retail investors buy/sell stocks based on how the outlook for the general market looks like. If they don't trust the markets, they will be reluctant to invest, no matter what.</p>\n<p>That's not a great way of looking at markets. There are almost 4,000 stocks available and there will always be interesting investment opportunities to generate great returns, no matter how the market evolves.</p>\n<p>In a generally overvalued market it gets increasingly challenging to find undervalued stocks, but certainly not impossible. Ask Warren Buffett. In 2000, the most overvalued stock market in history, his investment vehicle Berkshire Hathaway (BRK.A) (BRK.B) kept buying high-quality, undervalued assets. His dedication paid off with an impressive return of 47% five years after the dot-com peak compared to -39% for the Nasdaq index.</p>\n<p>The Russell 2000 (IWM), an index reflecting US small caps, was very attractive during the dot-com bubble as well, trading at a P/E of 16x (vs 24x for large caps) going into 2000. Those who invested in this undervalued asset class during the bubble also generated very solid returns. Those who were able to pick out the greatest small caps were a lot happier than those who got tricked into overhyped tech stocks, I can imagine.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c713a296e819a255b3be8ac6e504033d\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>So what should you do today? I would suggest re-evaluating all your portfolio holdings. Weigh their valuation compared to earnings 3 years from now, when Covid-19 disruptions (stimuli, pent-up demand, etc.) are gone. Be conservative with your assumptions. If a stock is significantly overvalued compared to those assumptions, don't be greedy and sell out the position.</p>\n<p>A great example is Apple Inc. (AAPL), one of the most popular stocks this year. As a consequence of its very strong financials (revenue grew 36.4% last quarter), its P/E ratio more than doubled over the past two years to 30x. It is important to understand that its recent growth primarily accelerated due to unsustainable drivers such as the several rounds of stimuli cheques. Once this fades away, Apple's growth is likely to fall back to single digits (or might even go negative in the short term) and returns would be very weak going forward.</p>\n<p>Don't keep all that freed up capital in cash, especially in the current inflationary environment. There are still opportunities to re-invest that money. In my opinion, small caps are the most attractive asset class today just like they were in 2000. After its recent underperformance, the Russell 2000 (representing all US small caps) is trading at a P/E of 15.6x today. This is much lower than both the S&amp;P 500 Index and its historical average. There are plenty of small-cap opportunities out there which will generate great returns going forward.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2f132a93975b3b7fef86aff21c0b49bb\" tg-width=\"640\" tg-height=\"250\" width=\"100%\" height=\"auto\"><span>Source: Yardeni</span></p>\n<p><b>3. Adopt a proven investment strategy to pick stocks</b></p>\n<p>Rule #1 and #2 look very good on paper, but are very hard to execute in reality. When push comes to shove, it's very tough to deny your emotions and to find interesting investment opportunities in an overvalued market.</p>\n<p>That's where #3 comes into play: adopt a proven investment strategy.</p>\n<p>With the upcoming challenges in the stock market, I believe it has never been as important as today to follow a pre-determined strategy on which you can rely during a highly uncertain market environment. If you use a strategy which worked well in the past, you'll feel great in each market environment.</p>\n<p>There are many strategies that could work for you, as long as you stick to it. We strongly believe that our under-appreciated strategy at Insider Opportunities will be very valuable in the coming years.</p>\n<p>To find attractive investment opportunities, we follow insider purchases each day. Insiders are the CFOs, CEOs, board members, etc. who know their business better than anyone else in the market. If they see a disconnection between the share price and the business fundamentals, they can purchase shares to generate profits. You can follow the purchases of this so-called \"smart money\" on a daily basis through SEC filings or websites like openinsider.com.</p>\n<p>We don't just follow up insider purchases. We created three algorithms based on more than a million of data points over the past decade to pick the greatest ones out of all insider purchases. As such, we stick to a pre-determined plan to only buy stocks that are attractive based on specific fundamentals, called \"golden picks\".</p>\n<p>It worked tremendously in the past. Our back-test shows that the strategy generated annualized returns of 47.2% over the past decade, tripling the S&amp;P 500 index. Only in 2011 it slightly underperformed the market.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f05af9240a87a55641df0a7921ec0380\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"><span>Source: Insider Opportunities</span></p>\n<p></p>\n<p>We firmly believe that this revolutionary strategy will continue generating wealth for us in the stock market, regardless of how the market performs. Find yourself a strict, proven strategy like ours on which you can rely during the upcoming uncertainties.</p>\n<p><b>Conclusion: Do this at all-time highs</b></p>\n<p>Most stock market investors are resting on their laurels when all-time highs are being reached. Above all, nothing can go wrong in such a bullish market, right?</p>\n<p>No, that's not how it works. Markets evolve in cycles and those who don't acknowledge the importance of adapting to these cycles will be struck at weak long-term returns.</p>\n<p>How should you approach today's all-time highs to keep generating wealth going forward? Here are my three golden rules:</p>\n<ol>\n <li><b>Don't get greedy.</b>As a consequence of emotional behavior, you will want to take higher risks when markets are rallying. Never follow these emotions and always keep focused on the fundamentals.</li>\n <li><b>Keep being invested.</b>Don't get reluctant to invest in stocks just because markets are getting overvalued. Acknowledge that it's a market of stocks, not a stock market. There are always great opportunities in each market environment. Today, they are mostly available in under-the-radar small caps.</li>\n <li><b>Adopt a proven strategy.</b>Investing is not easy, especially when things are starting to move southwards. Adopting a strict, proven investment strategy can make life much easier and improve returns significantly.</li>\n</ol>","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 Golden Rules On How To Invest At All-Time Highs</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 Golden Rules On How To Invest At All-Time Highs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-06 14:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4453541-3-golden-rules-on-how-to-invest-at-all-time-highs><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nMarkets continue to reach new all-time highs each week and have not seen a notable correction in over 200 trading days.\nAs markets are rallying, many investors are starting to rest on their ...</p>\n\n<a href=\"https://seekingalpha.com/article/4453541-3-golden-rules-on-how-to-invest-at-all-time-highs\">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://seekingalpha.com/article/4453541-3-golden-rules-on-how-to-invest-at-all-time-highs","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186375251","content_text":"Summary\n\nMarkets continue to reach new all-time highs each week and have not seen a notable correction in over 200 trading days.\nAs markets are rallying, many investors are starting to rest on their laurels while investment decisions at all-time highs are actually more important than ever.\nWhat should you be aware of in today's market? Should you sell out at these overvalued prices or can you still generate great returns by buying today?\nIn this article, I will share my three golden rules on how to invest at all-time highs like today. This information will be very valuable for your future wealth generation in the market.\n\nphive2015/iStock via Getty Images\nThe stock market has been on a rampage in 2021. At the end of August, the S&P 500 index (SPY) gained 20.4% year-to-date. Interestingly, the index has been trading in a very tight upward range and has not seen a 5% correction for 208 trading days. While most investors don't see this as an anomaly, it actually is. Both events have only occurred 7 times before in stock market history. We are clearly living in abnormal times.\nSource: Insider Opportunities with Tradingview\nEach day it is important to think thoroughly about the investment decisions you make. Above all, all purchases or sales will impact your future wealth accumulation in the market.\nHowever, during extreme rallies like today it is twice as important to reflect on your investment decisions. Ask that to investors who took high risks during the dot-com bubble or panic sold during the Covid-19 crash. That undoubtedly had an immense impact on their long-term returns.\nThe importance of investment decisions today for your long-term returns is why I chose to write about my three golden rules on how to invest at all-time highs. How should you approach today's market and what should you be aware of? Should you sell out at these overvalued prices and wait for a correction to take place or can you still generate great returns when buying at these levels? The answers to these one-million-dollar questions will be provided in this article.\n1. Don't get caught by greediness\nLet's start off with the most important rule. Avoid greediness.\nAccording to JPMorgan, over the past 20 years, the average investor reached an annual return of only 2.9%. As such, they significantly underperformed the general market as the S&P 500 yielded an annual 7.5% return during this time frame.\nThe single most important reason for this retail investor underperformance? Emotional human behavior.\nThe average investor is getting influenced heavily by media headlines, stock prices movements and behavior from other investors.\nToday, we reached an extremely bullish stock market environment. Last earnings season has been one of the greatest in stock market history. The S&P 500 EPS rose by 94.5% YoY and 86.1% of its constituents beat analyst estimates.\nAs a consequence of this bullish environment, analysts are significantly raising their estimates for the next quarters. They now expect EPS to rise sharply to $217.96 by the end of 2022, which is a significant recovery from the pre-pandemic high of $157.12. Such a recovery looks to be optimistic as it took 7-12 years in the past economic cycles to achieve this:\nSource: Insider Opportunities based on S&P Global data; adjusted EPS is used\nWill earnings really continue this very strong recovery over the coming quarters or are analysts perhaps getting too greedy with their assumptions?\nIt wouldn't be the first time if they were too greedy. During the dot-com bubble for example, they were caught by their emotions as well. The '90s was an abnormally strong decade in terms of earnings growth for the S&P 500. As such, analysts totally forgot that downward cycles exist as well. They increased their annual EPS growth guidance to a staggering 15% for the five years following 2000. According to them, this high growth rate justified the record P/E multiples stocks were trading at and many investors got tricked into that story.\nWhat happened afterwards? The economy didn't boom, it fell into a recession which took 3 years to recover from. Earnings in 2003 were almost 50% lower than what analysts had been predicting in 2000.\nAs markets were priced to analyst expectations instead of taking into account a possible downturn, the S&P 500 crashed and took 7 years to recover.\nSource: Insider Opportunities based on S&P Global data and Yardeni; adjusted EPS is used\nLet's get back to today... The P/E of the S&P 500 currently stands at 25.4x, which is extremely high compared to historical levels. This gets justified by the common belief that earnings will continue rising significantly. As such, the ratio would fall to an acceptable 20.7x by the end of 2022.\nNow ask yourself how likely it is that earnings growth will continue to grow at higher levels than the historical average over the coming quarters.\nInterest rates are already at 0%. The money printer is running out of paper. Federal debt levels are hitting their ceilings. Pent-up demand and stimuli cheques already led to record-high consumer spending over the past quarters.\nMaybe, just maybe, analysts are being too greedy with their assumptions? Maybe the recent economic recovery is unsustainable and set to cool down? Maybe my assumptions (grey line) are much more likely than what the market is predicting (red line)? If so, the market is trading at a fwd 2022 P/E of 23.6x, which is really expensive.\nI'm not sure this will happen, nobody is. But it sure as hell is a probability.\nSource: Insider Opportunities based on S&P Global data and Yardeni; adjusted EPS is used\nThis greediness also gets reflected in the charts. As you can see in the chart below, a bull market can be split into four cycles. Strong growth, bear trap, media attention and greed.\nInterestingly, the 2013-2021 bull market is playing out almost identically as the 1994-2000 bull market. At this moment, the Nasdaq Index (QQQ) looks to be ready to start the last extreme greed phase. The media is approaching the recent rally as \"the new normal\" and investors are FOMO buying heavily because stocks \"can only go up\". As such, it is likely that the Nasdaq will rise close to $20,000 in the last months of 2021.\nAs a long-term investor, it is extremely important to understand these dynamics. You will probably feel the urge to go all-in in risky assets as well. However, getting greedy during this phase could be a major threat for your long term returns as it will likely be followed by a major bear market.\nSource: Insider Opportunities with Tradingview\nHuman behavior makes it extremely challenging to not get distracted by market sentiment. If you can keep an objective view on markets, it will benefit your returns drastically.\n2. Keep investing, there are always opportunities\nIn short, rule #1 says that your decisions should never be led by emotions and that you should keep focusing on underlying fundamentals. As the market is getting greedy today and valuations reach extreme levels it implies that you should start selling stocks and hold a lot of cash, right?\nNot really... You know, a wise man once said the following:\n\nIt's a market of stocks, not a stock market.\n\nI'm not entirely sure who came up with it. But it must be a wise man, for sure.\nWhat does it mean? Look, many retail investors buy/sell stocks based on how the outlook for the general market looks like. If they don't trust the markets, they will be reluctant to invest, no matter what.\nThat's not a great way of looking at markets. There are almost 4,000 stocks available and there will always be interesting investment opportunities to generate great returns, no matter how the market evolves.\nIn a generally overvalued market it gets increasingly challenging to find undervalued stocks, but certainly not impossible. Ask Warren Buffett. In 2000, the most overvalued stock market in history, his investment vehicle Berkshire Hathaway (BRK.A) (BRK.B) kept buying high-quality, undervalued assets. His dedication paid off with an impressive return of 47% five years after the dot-com peak compared to -39% for the Nasdaq index.\nThe Russell 2000 (IWM), an index reflecting US small caps, was very attractive during the dot-com bubble as well, trading at a P/E of 16x (vs 24x for large caps) going into 2000. Those who invested in this undervalued asset class during the bubble also generated very solid returns. Those who were able to pick out the greatest small caps were a lot happier than those who got tricked into overhyped tech stocks, I can imagine.\nData by YCharts\nSo what should you do today? I would suggest re-evaluating all your portfolio holdings. Weigh their valuation compared to earnings 3 years from now, when Covid-19 disruptions (stimuli, pent-up demand, etc.) are gone. Be conservative with your assumptions. If a stock is significantly overvalued compared to those assumptions, don't be greedy and sell out the position.\nA great example is Apple Inc. (AAPL), one of the most popular stocks this year. As a consequence of its very strong financials (revenue grew 36.4% last quarter), its P/E ratio more than doubled over the past two years to 30x. It is important to understand that its recent growth primarily accelerated due to unsustainable drivers such as the several rounds of stimuli cheques. Once this fades away, Apple's growth is likely to fall back to single digits (or might even go negative in the short term) and returns would be very weak going forward.\nDon't keep all that freed up capital in cash, especially in the current inflationary environment. There are still opportunities to re-invest that money. In my opinion, small caps are the most attractive asset class today just like they were in 2000. After its recent underperformance, the Russell 2000 (representing all US small caps) is trading at a P/E of 15.6x today. This is much lower than both the S&P 500 Index and its historical average. There are plenty of small-cap opportunities out there which will generate great returns going forward.\nSource: Yardeni\n3. Adopt a proven investment strategy to pick stocks\nRule #1 and #2 look very good on paper, but are very hard to execute in reality. When push comes to shove, it's very tough to deny your emotions and to find interesting investment opportunities in an overvalued market.\nThat's where #3 comes into play: adopt a proven investment strategy.\nWith the upcoming challenges in the stock market, I believe it has never been as important as today to follow a pre-determined strategy on which you can rely during a highly uncertain market environment. If you use a strategy which worked well in the past, you'll feel great in each market environment.\nThere are many strategies that could work for you, as long as you stick to it. We strongly believe that our under-appreciated strategy at Insider Opportunities will be very valuable in the coming years.\nTo find attractive investment opportunities, we follow insider purchases each day. Insiders are the CFOs, CEOs, board members, etc. who know their business better than anyone else in the market. If they see a disconnection between the share price and the business fundamentals, they can purchase shares to generate profits. You can follow the purchases of this so-called \"smart money\" on a daily basis through SEC filings or websites like openinsider.com.\nWe don't just follow up insider purchases. We created three algorithms based on more than a million of data points over the past decade to pick the greatest ones out of all insider purchases. As such, we stick to a pre-determined plan to only buy stocks that are attractive based on specific fundamentals, called \"golden picks\".\nIt worked tremendously in the past. Our back-test shows that the strategy generated annualized returns of 47.2% over the past decade, tripling the S&P 500 index. Only in 2011 it slightly underperformed the market.\nSource: Insider Opportunities\n\nWe firmly believe that this revolutionary strategy will continue generating wealth for us in the stock market, regardless of how the market performs. Find yourself a strict, proven strategy like ours on which you can rely during the upcoming uncertainties.\nConclusion: Do this at all-time highs\nMost stock market investors are resting on their laurels when all-time highs are being reached. Above all, nothing can go wrong in such a bullish market, right?\nNo, that's not how it works. Markets evolve in cycles and those who don't acknowledge the importance of adapting to these cycles will be struck at weak long-term returns.\nHow should you approach today's all-time highs to keep generating wealth going forward? Here are my three golden rules:\n\nDon't get greedy.As a consequence of emotional behavior, you will want to take higher risks when markets are rallying. Never follow these emotions and always keep focused on the fundamentals.\nKeep being invested.Don't get reluctant to invest in stocks just because markets are getting overvalued. Acknowledge that it's a market of stocks, not a stock market. There are always great opportunities in each market environment. Today, they are mostly available in under-the-radar small caps.\nAdopt a proven strategy.Investing is not easy, especially when things are starting to move southwards. Adopting a strict, proven investment strategy can make life much easier and improve returns significantly.","news_type":1},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834727121,"gmtCreate":1629843341163,"gmtModify":1676530145682,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"EV is the must have&nbsp;","listText":"EV is the must have&nbsp;","text":"EV is the must have","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834727121","repostId":"1103523722","repostType":4,"repost":{"id":"1103523722","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":1629726550,"share":"https://ttm.financial/m/news/1103523722?lang=&edition=fundamental","pubTime":"2021-08-23 21:49","market":"us","language":"en","title":"EV stocks surged in Monday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1103523722","media":"Tiger Newspress","summary":"EV stocks surged in Monday morning trading.Tesla,Nio and Li Auto shares rose more than 2%.Tesla has officially started Model Y deliveries in Europe.It was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.Tesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.Like any new introduction from Tesla, European buyers generally have to wait until Fremo","content":"<p>EV stocks surged in Monday morning trading.Tesla,Nio&nbsp;and Li Auto&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;2%.</p>\n<p><img src=\"https://static.tigerbbs.com/9b189db1a61970659fe3cfa28abccaea\" tg-width=\"360\" tg-height=\"722\" referrerpolicy=\"no-referrer\"></p>\n<p>Tesla&nbsp;has officially started Model Y deliveries in Europe.</p>\n<p>It was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.</p>\n<p>Tesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.</p>\n<p>Like any new introduction from Tesla, European buyers generally have to wait until Fremont factory starts producing batches of European versions of the new cars and ships them to the old continent.</p>\n<p>However, the automaker announced a change in strategy to introduce Model Y in Europe and China.</p>\n<p>Tesla said that it would only start deliveries in those markets after achieving new local production at Gigafactory Shanghai and Gigafactory Berlin.</p>\n<p>This was achieved in a record time in China, and&nbsp;Tesla started Model Y deliveries in the market earlier this year.</p>\n<p>It has been a different story in Europe.</p>\n<p>Tesla has run into some challenges in starting production at Gigafactory Berlin, and the timeline has shifted from July 2021 to October 2021.</p>\n<p>But instead of waiting to start deliveries of the new Model Y, Tesla has decided to export Model Y vehicles produced at Gigafactory Shanghai to European markets.</p>\n<p>We recently reported that&nbsp;Tesla exported over 8,000 Model Ys from China last month, with most of them expected to come to Europe.</p>\n<p>They werespotted for the first timetwo weeks ago.</p>\n<p>Now we can confirm that Tesla has officially started Model Y deliveries in Europe.</p>\n<p>Can Dogan, a senior Tesla advisor at the store and service center inDortmund, Germany, posted a picture of the first European Model Y delivery on&nbsp;LinkedIn:</p>\n<p><img src=\"https://static.tigerbbs.com/ba472849be1800fdf041761fe34f58ba\" tg-width=\"1478\" tg-height=\"1108\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The electric vehicle has also been spotted in several other European markets, like Norway and the Netherlands, where deliveries are also expected to start soon.</p>\n<p>It will be interesting to see how the Model Y contributes to electric vehicle sales in Europe in the coming months – though the real volume is expected to come with local production next year.</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>EV stocks surged in Monday morning trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV stocks surged in Monday morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-23 21:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>EV stocks surged in Monday morning trading.Tesla,Nio&nbsp;and Li Auto&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;2%.</p>\n<p><img src=\"https://static.tigerbbs.com/9b189db1a61970659fe3cfa28abccaea\" tg-width=\"360\" tg-height=\"722\" referrerpolicy=\"no-referrer\"></p>\n<p>Tesla&nbsp;has officially started Model Y deliveries in Europe.</p>\n<p>It was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.</p>\n<p>Tesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.</p>\n<p>Like any new introduction from Tesla, European buyers generally have to wait until Fremont factory starts producing batches of European versions of the new cars and ships them to the old continent.</p>\n<p>However, the automaker announced a change in strategy to introduce Model Y in Europe and China.</p>\n<p>Tesla said that it would only start deliveries in those markets after achieving new local production at Gigafactory Shanghai and Gigafactory Berlin.</p>\n<p>This was achieved in a record time in China, and&nbsp;Tesla started Model Y deliveries in the market earlier this year.</p>\n<p>It has been a different story in Europe.</p>\n<p>Tesla has run into some challenges in starting production at Gigafactory Berlin, and the timeline has shifted from July 2021 to October 2021.</p>\n<p>But instead of waiting to start deliveries of the new Model Y, Tesla has decided to export Model Y vehicles produced at Gigafactory Shanghai to European markets.</p>\n<p>We recently reported that&nbsp;Tesla exported over 8,000 Model Ys from China last month, with most of them expected to come to Europe.</p>\n<p>They werespotted for the first timetwo weeks ago.</p>\n<p>Now we can confirm that Tesla has officially started Model Y deliveries in Europe.</p>\n<p>Can Dogan, a senior Tesla advisor at the store and service center inDortmund, Germany, posted a picture of the first European Model Y delivery on&nbsp;LinkedIn:</p>\n<p><img src=\"https://static.tigerbbs.com/ba472849be1800fdf041761fe34f58ba\" tg-width=\"1478\" tg-height=\"1108\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>The electric vehicle has also been spotted in several other European markets, like Norway and the Netherlands, where deliveries are also expected to start soon.</p>\n<p>It will be interesting to see how the Model Y contributes to electric vehicle sales in Europe in the coming months – though the real volume is expected to come with local production next year.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","XPEV":"小鹏汽车","LI":"理想汽车","NIO":"蔚来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103523722","content_text":"EV stocks surged in Monday morning trading.Tesla,Nio and Li Auto shares rose more than 2%.\n\nTesla has officially started Model Y deliveries in Europe.\nIt was a long wait for customers and interestingly, the first deliveries were achieved through a change in strategy for Tesla.\nTesla first unveiled the Model Y in March of 2020 and delivered the first units of the electric SUV in the US almost exactly a year later.\nLike any new introduction from Tesla, European buyers generally have to wait until Fremont factory starts producing batches of European versions of the new cars and ships them to the old continent.\nHowever, the automaker announced a change in strategy to introduce Model Y in Europe and China.\nTesla said that it would only start deliveries in those markets after achieving new local production at Gigafactory Shanghai and Gigafactory Berlin.\nThis was achieved in a record time in China, and Tesla started Model Y deliveries in the market earlier this year.\nIt has been a different story in Europe.\nTesla has run into some challenges in starting production at Gigafactory Berlin, and the timeline has shifted from July 2021 to October 2021.\nBut instead of waiting to start deliveries of the new Model Y, Tesla has decided to export Model Y vehicles produced at Gigafactory Shanghai to European markets.\nWe recently reported that Tesla exported over 8,000 Model Ys from China last month, with most of them expected to come to Europe.\nThey werespotted for the first timetwo weeks ago.\nNow we can confirm that Tesla has officially started Model Y deliveries in Europe.\nCan Dogan, a senior Tesla advisor at the store and service center inDortmund, Germany, posted a picture of the first European Model Y delivery on LinkedIn:\n\nThe electric vehicle has also been spotted in several other European markets, like Norway and the Netherlands, where deliveries are also expected to start soon.\nIt will be interesting to see how the Model Y contributes to electric vehicle sales in Europe in the coming months – though the real volume is expected to come with local production next year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":838511319,"gmtCreate":1629418789431,"gmtModify":1676530032648,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Some of the American didn’t even take the first dose...","listText":"Some of the American didn’t even take the first dose...","text":"Some of the American didn’t even take the first dose...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/838511319","repostId":"1179587518","repostType":4,"repost":{"id":"1179587518","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":1629381512,"share":"https://ttm.financial/m/news/1179587518?lang=&edition=fundamental","pubTime":"2021-08-19 21:58","market":"other","language":"en","title":"White House Holds Conference to Illustrate Why People Need to Get a Third Dose","url":"https://stock-news.laohu8.com/highlight/detail?id=1179587518","media":"Tiger Newspress","summary":"I have to acknowledge that the United States is the most courageous country, the first in the world ","content":"<p>I have to acknowledge that the United States is the most courageous country, the first in the world to admit that the effectiveness of vaccines will decline.</p>\n<p>It took less than a week from the initial trend of taking a third dose to the White House's press conference yesterday, suggesting that the current strong rebound of the epidemic in the United States has forced the officials to quickly advance the injection of a third dose. At present, the Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) have not officially announced the shot of a third dose, but the various departments, under the leadership of Biden, will cooperate closely. There are reasons to believe that the official announcement on a third dose made by the FDA and CDC will come soon.</p>\n<p>Holding the conference on the vaccination of a third dose in the United States is a double-edged sword. People who are willing to be vaccinated will be better protected, but those who are unwilling to be vaccinated will be more reluctant to do so. The current shortcomings of group vaccination in the United States still lie in the unwillingness of conservatives to vaccinate. The conservatives suspect that the government is conspiring to implant the chip into the human body. The more things the government encourages, the more people must oppose it. This phenomenon is particularly noticeable in the United States. But there are countless pieces of empirical evidence showing that even if people have received two doses, they still have a high risk of contracting the disease when exposing to the unvaccinated. For the safety of the people who are willing to get the vaccination, a third dose must be introduced now.</p>\n<p>Four politicians and experts, one of whom was Fauci, were invited to the conference. Although Fauci owns Biden's strong support, the Biden government will deliberately downplay his personal style. Regarding Fauci, there are many controversies. The core reason is that some of Fauci's remarks are inconsistent—for example, his attitude about wearing masks. However, the problem is not with Fauci, but with human beings.</p>\n<p>Human beings have always advocated a certain spirit for thousands of years. From the previous \"god\" to the current \"science,\" the spirit has always been based on something abstract. But the essence of \"science\" lies in its daring to admit its mistakes and then correct them. Newton's three laws corrected the geocentric theory and heliocentric theory, while Einstein's theory of relativity corrected Newton's three laws. As the spokesperson of \"science,\" it is impossible for Fauci to avoid making mistakes. Any scientist in the world will make mistakes, especially that we knew nothing about COVID-19 when it broke out. But Fauci can correct his mistakes, proving that he is a qualified scientist. Unfortunately, mankind always expects an omnipotent person to lead the world.</p>\n<p>Let's go back to the conference itself – a third dose of vaccination. My reviews made on August 9 have been attached to the document of the conference held yesterday.</p>\n<p><img src=\"https://static.tigerbbs.com/5e979faf16460fd4e5ec86dd322b685d\" tg-width=\"1222\" tg-height=\"495\" width=\"100%\" height=\"auto\"></p>\n<p>In addition, the document also summarizes different studies on the decline of vaccine effectiveness. From the point of view of infection, the protective effect of the mRNA vaccine attenuates significantly after 3 to 6 months (Figure&nbsp;1); from the point of view of hospitalized serious illness, the effectiveness of mRNA vaccine is not bad after 3-6 months (Figure&nbsp;2).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fc3282dd52e287ddb48be0989bc0085\" tg-width=\"283\" tg-height=\"137\" width=\"100%\" height=\"auto\"><span>Figure 1</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2053e9ea4f27c6c68cce44d11f8a5ba3\" tg-width=\"292\" tg-height=\"140\" width=\"100%\" height=\"auto\"><span>Figure 2</span></p>\n<p>Regarding the Delta variants, the document cited relatively few studies, but confirmed two points: (1) The effectiveness of the vaccine against the Delta variants has dropped significantly, with a study showing a decrease from 92% to 64%; (2) Higher levels of antibody may be more effective for Delta variants.</p>\n<p>To sum up, why do we have to get a third dose of the COVID-19 vaccine? Primarily, the antibody levels will naturally decrease. Then, the vaccine does not work well for the Delta variants.</p>\n<p><b>Through this conference, we also need to recognize the following points:</b></p>\n<p>1. Regardless of the technology of the vaccine itself, the antibody levels in the human body will always naturally decline. This may be a defect in human genes. Not only the coronavirus antibody, but the flu antibody levels will naturally decrease in our body. No one flu vaccine can be used once and for all, though it has been developed for so long. The same situation can happen to coronavirus vaccines, too.</p>\n<p>2. The current vaccine is not developed for the Delta variants, so its effectiveness attenuates. Pharmaceutical companies are likely to open a vaccine specifically targeted at the Delta variants, which can be combined with the original vaccine ingredients to become a \"two-valent coronavirus vaccine,\" but it will take time.</p>\n<p>3. No vaccine can be taken once and for all, so a good vaccine is the one with a higher antibody level. Both mRNA and inactivated vaccines have the issue of antibody effectiveness attenuation, which means that there will also be a third and fourth injection. However, the key for human beings to coexist with the virus lies in how to develop a vaccine with a longer duration of injection.</p>\n<p><b>In a word, two doses within a year will be the norm.</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>White House Holds Conference to Illustrate Why People Need to Get a Third Dose</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\">\nWhite House Holds Conference to Illustrate Why People Need to Get a Third Dose\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\">2021-08-19 21:58</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>I have to acknowledge that the United States is the most courageous country, the first in the world to admit that the effectiveness of vaccines will decline.</p>\n<p>It took less than a week from the initial trend of taking a third dose to the White House's press conference yesterday, suggesting that the current strong rebound of the epidemic in the United States has forced the officials to quickly advance the injection of a third dose. At present, the Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) have not officially announced the shot of a third dose, but the various departments, under the leadership of Biden, will cooperate closely. There are reasons to believe that the official announcement on a third dose made by the FDA and CDC will come soon.</p>\n<p>Holding the conference on the vaccination of a third dose in the United States is a double-edged sword. People who are willing to be vaccinated will be better protected, but those who are unwilling to be vaccinated will be more reluctant to do so. The current shortcomings of group vaccination in the United States still lie in the unwillingness of conservatives to vaccinate. The conservatives suspect that the government is conspiring to implant the chip into the human body. The more things the government encourages, the more people must oppose it. This phenomenon is particularly noticeable in the United States. But there are countless pieces of empirical evidence showing that even if people have received two doses, they still have a high risk of contracting the disease when exposing to the unvaccinated. For the safety of the people who are willing to get the vaccination, a third dose must be introduced now.</p>\n<p>Four politicians and experts, one of whom was Fauci, were invited to the conference. Although Fauci owns Biden's strong support, the Biden government will deliberately downplay his personal style. Regarding Fauci, there are many controversies. The core reason is that some of Fauci's remarks are inconsistent—for example, his attitude about wearing masks. However, the problem is not with Fauci, but with human beings.</p>\n<p>Human beings have always advocated a certain spirit for thousands of years. From the previous \"god\" to the current \"science,\" the spirit has always been based on something abstract. But the essence of \"science\" lies in its daring to admit its mistakes and then correct them. Newton's three laws corrected the geocentric theory and heliocentric theory, while Einstein's theory of relativity corrected Newton's three laws. As the spokesperson of \"science,\" it is impossible for Fauci to avoid making mistakes. Any scientist in the world will make mistakes, especially that we knew nothing about COVID-19 when it broke out. But Fauci can correct his mistakes, proving that he is a qualified scientist. Unfortunately, mankind always expects an omnipotent person to lead the world.</p>\n<p>Let's go back to the conference itself – a third dose of vaccination. My reviews made on August 9 have been attached to the document of the conference held yesterday.</p>\n<p><img src=\"https://static.tigerbbs.com/5e979faf16460fd4e5ec86dd322b685d\" tg-width=\"1222\" tg-height=\"495\" width=\"100%\" height=\"auto\"></p>\n<p>In addition, the document also summarizes different studies on the decline of vaccine effectiveness. From the point of view of infection, the protective effect of the mRNA vaccine attenuates significantly after 3 to 6 months (Figure&nbsp;1); from the point of view of hospitalized serious illness, the effectiveness of mRNA vaccine is not bad after 3-6 months (Figure&nbsp;2).</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9fc3282dd52e287ddb48be0989bc0085\" tg-width=\"283\" tg-height=\"137\" width=\"100%\" height=\"auto\"><span>Figure 1</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2053e9ea4f27c6c68cce44d11f8a5ba3\" tg-width=\"292\" tg-height=\"140\" width=\"100%\" height=\"auto\"><span>Figure 2</span></p>\n<p>Regarding the Delta variants, the document cited relatively few studies, but confirmed two points: (1) The effectiveness of the vaccine against the Delta variants has dropped significantly, with a study showing a decrease from 92% to 64%; (2) Higher levels of antibody may be more effective for Delta variants.</p>\n<p>To sum up, why do we have to get a third dose of the COVID-19 vaccine? Primarily, the antibody levels will naturally decrease. Then, the vaccine does not work well for the Delta variants.</p>\n<p><b>Through this conference, we also need to recognize the following points:</b></p>\n<p>1. Regardless of the technology of the vaccine itself, the antibody levels in the human body will always naturally decline. This may be a defect in human genes. Not only the coronavirus antibody, but the flu antibody levels will naturally decrease in our body. No one flu vaccine can be used once and for all, though it has been developed for so long. The same situation can happen to coronavirus vaccines, too.</p>\n<p>2. The current vaccine is not developed for the Delta variants, so its effectiveness attenuates. Pharmaceutical companies are likely to open a vaccine specifically targeted at the Delta variants, which can be combined with the original vaccine ingredients to become a \"two-valent coronavirus vaccine,\" but it will take time.</p>\n<p>3. No vaccine can be taken once and for all, so a good vaccine is the one with a higher antibody level. Both mRNA and inactivated vaccines have the issue of antibody effectiveness attenuation, which means that there will also be a third and fourth injection. However, the key for human beings to coexist with the virus lies in how to develop a vaccine with a longer duration of injection.</p>\n<p><b>In a word, two doses within a year will be the norm.</b></p>\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"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179587518","content_text":"I have to acknowledge that the United States is the most courageous country, the first in the world to admit that the effectiveness of vaccines will decline.\nIt took less than a week from the initial trend of taking a third dose to the White House's press conference yesterday, suggesting that the current strong rebound of the epidemic in the United States has forced the officials to quickly advance the injection of a third dose. At present, the Food and Drug Administration (FDA) and Centers for Disease Control and Prevention (CDC) have not officially announced the shot of a third dose, but the various departments, under the leadership of Biden, will cooperate closely. There are reasons to believe that the official announcement on a third dose made by the FDA and CDC will come soon.\nHolding the conference on the vaccination of a third dose in the United States is a double-edged sword. People who are willing to be vaccinated will be better protected, but those who are unwilling to be vaccinated will be more reluctant to do so. The current shortcomings of group vaccination in the United States still lie in the unwillingness of conservatives to vaccinate. The conservatives suspect that the government is conspiring to implant the chip into the human body. The more things the government encourages, the more people must oppose it. This phenomenon is particularly noticeable in the United States. But there are countless pieces of empirical evidence showing that even if people have received two doses, they still have a high risk of contracting the disease when exposing to the unvaccinated. For the safety of the people who are willing to get the vaccination, a third dose must be introduced now.\nFour politicians and experts, one of whom was Fauci, were invited to the conference. Although Fauci owns Biden's strong support, the Biden government will deliberately downplay his personal style. Regarding Fauci, there are many controversies. The core reason is that some of Fauci's remarks are inconsistent—for example, his attitude about wearing masks. However, the problem is not with Fauci, but with human beings.\nHuman beings have always advocated a certain spirit for thousands of years. From the previous \"god\" to the current \"science,\" the spirit has always been based on something abstract. But the essence of \"science\" lies in its daring to admit its mistakes and then correct them. Newton's three laws corrected the geocentric theory and heliocentric theory, while Einstein's theory of relativity corrected Newton's three laws. As the spokesperson of \"science,\" it is impossible for Fauci to avoid making mistakes. Any scientist in the world will make mistakes, especially that we knew nothing about COVID-19 when it broke out. But Fauci can correct his mistakes, proving that he is a qualified scientist. Unfortunately, mankind always expects an omnipotent person to lead the world.\nLet's go back to the conference itself – a third dose of vaccination. My reviews made on August 9 have been attached to the document of the conference held yesterday.\n\nIn addition, the document also summarizes different studies on the decline of vaccine effectiveness. From the point of view of infection, the protective effect of the mRNA vaccine attenuates significantly after 3 to 6 months (Figure 1); from the point of view of hospitalized serious illness, the effectiveness of mRNA vaccine is not bad after 3-6 months (Figure 2).\nFigure 1\nFigure 2\nRegarding the Delta variants, the document cited relatively few studies, but confirmed two points: (1) The effectiveness of the vaccine against the Delta variants has dropped significantly, with a study showing a decrease from 92% to 64%; (2) Higher levels of antibody may be more effective for Delta variants.\nTo sum up, why do we have to get a third dose of the COVID-19 vaccine? Primarily, the antibody levels will naturally decrease. Then, the vaccine does not work well for the Delta variants.\nThrough this conference, we also need to recognize the following points:\n1. Regardless of the technology of the vaccine itself, the antibody levels in the human body will always naturally decline. This may be a defect in human genes. Not only the coronavirus antibody, but the flu antibody levels will naturally decrease in our body. No one flu vaccine can be used once and for all, though it has been developed for so long. The same situation can happen to coronavirus vaccines, too.\n2. The current vaccine is not developed for the Delta variants, so its effectiveness attenuates. Pharmaceutical companies are likely to open a vaccine specifically targeted at the Delta variants, which can be combined with the original vaccine ingredients to become a \"two-valent coronavirus vaccine,\" but it will take time.\n3. No vaccine can be taken once and for all, so a good vaccine is the one with a higher antibody level. Both mRNA and inactivated vaccines have the issue of antibody effectiveness attenuation, which means that there will also be a third and fourth injection. However, the key for human beings to coexist with the virus lies in how to develop a vaccine with a longer duration of injection.\nIn a word, two doses within a year will be the norm.","news_type":1},"isVote":1,"tweetType":1,"viewCount":87,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898953063,"gmtCreate":1628470022152,"gmtModify":1703506474468,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Who are the winners?","listText":"Who are the winners?","text":"Who are the winners?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/898953063","repostId":"1143051031","repostType":4,"isVote":1,"tweetType":1,"viewCount":39,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893651906,"gmtCreate":1628260679805,"gmtModify":1703504211062,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"hmm","listText":"hmm","text":"hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/893651906","repostId":"1124487485","repostType":4,"repost":{"id":"1124487485","pubTimestamp":1628258241,"share":"https://ttm.financial/m/news/1124487485?lang=&edition=fundamental","pubTime":"2021-08-06 21:57","market":"us","language":"en","title":"Here’s another sign the bull market is near a peak, and this one bears watching","url":"https://stock-news.laohu8.com/highlight/detail?id=1124487485","media":"MarketWatch","summary":"S&P 500 sectors’ relative strength rankings are flashing red.\n\nThe U.S. stock market is nearing a to","content":"<blockquote>\n <b>S&amp;P 500 sectors’ relative strength rankings are flashing red.</b>\n</blockquote>\n<p>The U.S. stock market is nearing a top, according to a leading indicator that is based on the trailing three-month returns of the S&amp;P 500 SPX, +0.08% sectors.</p>\n<p>Over the three months prior to past bull-market tops, a fairly predictable pattern emerged of which sectors performed best and which fared worst. Currently, a ranking of the sectors’ recent relative strength lines up fairly close with that pattern.</p>\n<p>This is a big change since mid-May when, as I reported, this leading indicator was not detecting any signs of imminent trouble. The sectors with the best trailing three-month returns at that time were not those that typically lead the market prior to tops, and the sectors with the worst trailing three-month returns were not those that typically lag.</p>\n<p>Now, in contrast, there is a distinct correlation between the sectors’ relative strength ranking and the typical pattern that appeared in past tops.</p>\n<p>According to research conducted by Ned Davis Research, Utilities, Energy and Financials are the S&amp;P 500 sectors that have performed the worst, on average, in the final three months of all bull markets since 1970. As is clear in the chart below, these three sectors now are at or near the bottom in a ranking of trailing three-month returns.</p>\n<p><img src=\"https://static.tigerbbs.com/8465aa12910238871b10168546466b1f\" tg-width=\"2100\" tg-height=\"1272\" width=\"100%\" height=\"auto\"></p>\n<p>In contrast, according to Ned Davis Research, Consumer Staples, Health Care and Consumer Discretionary are the sectors that have performed the best, on average, over the three months prior to past bull market tops. As the chart shows, these three have performed relatively well over the past three months.</p>\n<p>To quantify how much the sector relative strength rankings have shifted in a bearish direction, consider the correlation coefficients that I calculated. This statistic ranges from a high of 1.0 (which would mean that there is a perfect one-to-one correspondence between a ranking of the sectors’ recent returns and the historical pattern) to minus 1.0 (which would mean a perfectly inverse correlation). A coefficient of zero would mean that there is no detectable relationship.</p>\n<p>In mid-May, this coefficient stood at a significantly negative minus 0.66. Today, in contrast, it is a positive 0.67. This latest reading is one of the higher coefficients I’ve seen from my periodic monitoring of this indicator.</p>\n<p>Needless to say, neither this (nor any indicator, for that matter) is guaranteed to work. One time that it was accurate was in April 2015, when my column on this indicator ran under the headline “leading indicators signal a market top.” A bear market began one month later, according to the bear-market calendar maintained by Ned Davis Research. The correlation coefficient between the relative strength ranking that then prevailed and the historical pattern stood at 0.43; the current reading is higher and so even more bearish.</p>\n<p></p>","source":"lsy1603348471595","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>Here’s another sign the bull market is near a peak, and this one bears watching</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\">\nHere’s another sign the bull market is near a peak, and this one bears watching\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-06 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/heres-another-sign-the-bull-market-is-near-a-peak-and-this-one-bears-watching-11628233932?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>S&P 500 sectors’ relative strength rankings are flashing red.\n\nThe U.S. stock market is nearing a top, according to a leading indicator that is based on the trailing three-month returns of the S&P 500...</p>\n\n<a href=\"https://www.marketwatch.com/story/heres-another-sign-the-bull-market-is-near-a-peak-and-this-one-bears-watching-11628233932?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":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/heres-another-sign-the-bull-market-is-near-a-peak-and-this-one-bears-watching-11628233932?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124487485","content_text":"S&P 500 sectors’ relative strength rankings are flashing red.\n\nThe U.S. stock market is nearing a top, according to a leading indicator that is based on the trailing three-month returns of the S&P 500 SPX, +0.08% sectors.\nOver the three months prior to past bull-market tops, a fairly predictable pattern emerged of which sectors performed best and which fared worst. Currently, a ranking of the sectors’ recent relative strength lines up fairly close with that pattern.\nThis is a big change since mid-May when, as I reported, this leading indicator was not detecting any signs of imminent trouble. The sectors with the best trailing three-month returns at that time were not those that typically lead the market prior to tops, and the sectors with the worst trailing three-month returns were not those that typically lag.\nNow, in contrast, there is a distinct correlation between the sectors’ relative strength ranking and the typical pattern that appeared in past tops.\nAccording to research conducted by Ned Davis Research, Utilities, Energy and Financials are the S&P 500 sectors that have performed the worst, on average, in the final three months of all bull markets since 1970. As is clear in the chart below, these three sectors now are at or near the bottom in a ranking of trailing three-month returns.\n\nIn contrast, according to Ned Davis Research, Consumer Staples, Health Care and Consumer Discretionary are the sectors that have performed the best, on average, over the three months prior to past bull market tops. As the chart shows, these three have performed relatively well over the past three months.\nTo quantify how much the sector relative strength rankings have shifted in a bearish direction, consider the correlation coefficients that I calculated. This statistic ranges from a high of 1.0 (which would mean that there is a perfect one-to-one correspondence between a ranking of the sectors’ recent returns and the historical pattern) to minus 1.0 (which would mean a perfectly inverse correlation). A coefficient of zero would mean that there is no detectable relationship.\nIn mid-May, this coefficient stood at a significantly negative minus 0.66. Today, in contrast, it is a positive 0.67. This latest reading is one of the higher coefficients I’ve seen from my periodic monitoring of this indicator.\nNeedless to say, neither this (nor any indicator, for that matter) is guaranteed to work. One time that it was accurate was in April 2015, when my column on this indicator ran under the headline “leading indicators signal a market top.” A bear market began one month later, according to the bear-market calendar maintained by Ned Davis Research. The correlation coefficient between the relative strength ranking that then prevailed and the historical pattern stood at 0.43; the current reading is higher and so even more bearish.","news_type":1},"isVote":1,"tweetType":1,"viewCount":24,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887811874,"gmtCreate":1632016312198,"gmtModify":1676530686535,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Is there a so called “active ETF”?Should it be either an active managed funds or just a thematic ETF (passive)?","listText":"Is there a so called “active ETF”?Should it be either an active managed funds or just a thematic ETF (passive)?","text":"Is there a so called “active ETF”?Should it be either an active managed funds or just a thematic ETF (passive)?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/887811874","repostId":"2167287516","repostType":4,"isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815358133,"gmtCreate":1630648510622,"gmtModify":1676530365705,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Time to load up&nbsp;","listText":"Time to load up&nbsp;","text":"Time to load up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/815358133","repostId":"1159580926","repostType":4,"isVote":1,"tweetType":1,"viewCount":243,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":834751636,"gmtCreate":1629843635825,"gmtModify":1676530145778,"author":{"id":"4091330416235530","authorId":"4091330416235530","name":"AlvinCWC","avatar":"https://static.tigerbbs.com/0743f010c0966b125f39ff248c382345","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4091330416235530","authorIdStr":"4091330416235530"},"themes":[],"htmlText":"Solid growth!","listText":"Solid growth!","text":"Solid growth!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/834751636","repostId":"1194470972","repostType":4,"repost":{"id":"1194470972","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":1629804284,"share":"https://ttm.financial/m/news/1194470972?lang=&edition=fundamental","pubTime":"2021-08-24 19:24","market":"us","language":"en","title":"China's Pinduoduo misses quarterly revenue expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=1194470972","media":"Tiger Newspress","summary":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.Total revenue was 23.05 billion yuan in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.Total revenues in the quarter were RMB23,046.2 million, an increase of 89% from RMB12,193.3 millio","content":"<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p>\n<p>Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p>\n<p><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p>\n<p><b>Second Quarter 2021 Highlights</b></p>\n<ul>\n <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>\n <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>\n <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>\n <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>\n <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li>\n</ul>\n<p>Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p>\n<p><img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p>\n<p>“Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p>\n<p>“We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p>\n<p><b>Second Quarter 2021 Unaudited Financial Results</b></p>\n<p><b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p>\n<ul>\n <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>\n <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>\n <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li>\n</ul>\n<p><b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p>\n<p><b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p>\n<ul>\n <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>\n <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>\n <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li>\n</ul>\n<p><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p>\n<p><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p>\n<p><b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p>\n<p><b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p>\n<p><b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p>\n<p><b>Recent Development</b></p>\n<p>As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</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>China's Pinduoduo misses quarterly revenue expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's Pinduoduo misses quarterly revenue expectations\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\">2021-08-24 19:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.</p>\n<p>Total revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.</p>\n<p><a href=\"https://laohu8.com/RN?name=RNLive&amp;rndata=%7B%22liveId%22:%2216296953172882%22%7D\" target=\"_blank\">Q2 2021 Pinduoduo Inc Earnings Conference Call</a></p>\n<p><b>Second Quarter 2021 Highlights</b></p>\n<ul>\n <li><b>Total revenues</b>&nbsp;in the quarter were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% from&nbsp;RMB12,193.3 millionin the same quarter of 2020.</li>\n <li><b>Average monthly active users</b>&nbsp;in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.</li>\n <li><b>Active buyers</b>&nbsp;in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.</li>\n <li><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP&nbsp;operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</li>\n <li><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</li>\n</ul>\n<p>Pinduoduo&nbsp;shares&nbsp;were back to $84.01, up 3.6%.</p>\n<p><img src=\"https://static.tigerbbs.com/cef551e259866b07f824d1785781e3b7\" tg-width=\"892\" tg-height=\"637\" referrerpolicy=\"no-referrer\"></p>\n<p>“Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”</p>\n<p>“We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”</p>\n<p><b>Second Quarter 2021 Unaudited Financial Results</b></p>\n<p><b>Total revenues</b>&nbsp;were&nbsp;RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.</p>\n<ul>\n <li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.</li>\n <li><b>Revenues from transaction services</b>&nbsp;were&nbsp;RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.</li>\n <li><b>Revenues from merchandise sales</b>&nbsp;were&nbsp;RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.</li>\n</ul>\n<p><b>Total costs of revenues</b>&nbsp;were&nbsp;RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.</p>\n<p><b>Total operating expenses</b>&nbsp;were&nbsp;RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.</p>\n<ul>\n <li><b>Sales and marketing expenses</b>&nbsp;were&nbsp;RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.</li>\n <li><b>General and administrative expenses</b>&nbsp;were&nbsp;RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.</li>\n <li><b>Research and development expenses</b>&nbsp;were&nbsp;RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li>\n</ul>\n<p><b>Operating profit</b>&nbsp;in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.<b>Non-GAAP operating profit</b>&nbsp;in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.</p>\n<p><b>Net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.<b>Non-GAAP net income attributable to ordinary shareholders</b>&nbsp;in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.</p>\n<p><b>Basic earnings per ADS</b>&nbsp;was&nbsp;RMB1.93(US$0.30) and&nbsp;<b>diluted earnings per ADS</b>&nbsp;was&nbsp;RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.<b>Non-GAAP diluted earnings per ADS</b>&nbsp;was&nbsp;RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.</p>\n<p><b>Net cash flow provided by operating activities</b>&nbsp;was&nbsp;RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.</p>\n<p><b>Cash, cash equivalents and short-term investments</b>were&nbsp;RMB&nbsp;92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.</p>\n<p><b>Recent Development</b></p>\n<p>As ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1194470972","content_text":"Chinese e-commerce platform Pinduoduo Inc missed Wall Street expectations for quarterly revenue on Tuesday, hit by tough competition from larger rivals like Alibaba and JD.Com to tap into the pandemic-driven online shopping surge.\nTotal revenue was 23.05 billion yuan ($3.56 billion)in the second quarter ended June 30. Analysts on average expected revenue of 26.44 billion yuan, according to IBES data from Refinitiv.\nQ2 2021 Pinduoduo Inc Earnings Conference Call\nSecond Quarter 2021 Highlights\n\nTotal revenues in the quarter were RMB23,046.2 million(US$3,569.4 million), an increase of 89% from RMB12,193.3 millionin the same quarter of 2020.\nAverage monthly active users in the quarter was 738.5 million, an increase of 30% from 568.8 million in the same quarter of 2020.\nActive buyers in the twelve-month period endedJune 30, 2021was 849.9 million, an increase of 24% from 683.2 million in the twelve-month period endedJune 30, 2020.\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\n\nPinduoduo shares were back to $84.01, up 3.6%.\n\n“Agriculture has long been at the core of Pinduoduo’s corporate mission and strategy and the '10 Billion Agriculture Initiative' we announced today is a way for us to deepen our support for agricultural modernization and rural vitalization,” saidLei Chen, Chairman and CEO ofPinduoduo, who will oversee the initiative. “Investing in agriculture pays off for everyone because agriculture is the nexus of food security and quality, public health and environmental sustainability.”\n“We continued to deliver strong execution in the quarter. Our total revenues, excluding contribution from merchandise sales, for the second quarter 2021 increased 73% from the prior year,” saidTony Ma, Vice President of Finance ofPinduoduo. “Agriculture remains our strategic priority, and we are committed to patient and continued investment in agriculture.”\nSecond Quarter 2021 Unaudited Financial Results\nTotal revenues were RMB23,046.2 million(US$3,569.4 million), an increase of 89% fromRMB12,193.3 millionin the same quarter of 2020. The increase was primarily due to an increase in revenues from online marketing services.\n\nRevenues from online marketing services and others were RMB18,080.4 million(US$2,800.3 million), an increase of 64% fromRMB11,054.7 millionin the same quarter of 2020.\nRevenues from transaction services were RMB3,007.6 million(US$465.8 million), an increase of 164% fromRMB1,138.6 millionin the same quarter of 2020.\nRevenues from merchandise sales were RMB1,958.2 million(US$303.3 million), an increase ofRMB1,958.2 millionfrom nil in the same quarter of 2020.\n\nTotal costs of revenues were RMB7,897.9 million(US$1,223.2 million), an increase of 197% fromRMB2,662.1 millionin the same quarter of 2020. The increase was mainly due to costs attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, and delivery and storage fees.\nTotal operating expenses were RMB13,150.9 million(US$2,036.8 million), compared withRMB11,170.8 millionin the same quarter of 2020.\n\nSales and marketing expenses were RMB10,387.9 million(US$1,608.9 million), an increase of 14% fromRMB9,113.6 millionin the same quarter of 2020, mainly due to an increase in promotion and coupon expenses.\nGeneral and administrative expenses were RMB434.2 million(US$67.2 million), an increase of 10% fromRMB394.8 millionin the same quarter of 2020.\nResearch and development expenses were RMB2,328.8 million(US$360.7 million), an increase of 40% fromRMB1,662.4 millionin the same quarter of 2020. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.\n\nOperating profit in the quarter wasRMB1,997.5 million(US$309.4 million), compared with operating loss ofRMB1,639.6 millionin the same quarter of 2020.Non-GAAP operating profit in the quarter wasRMB3,185.2 million(US$493.3 million), compared with non-GAAP operating loss ofRMB725.1 millionin the same quarter of 2020.\nNet income attributable to ordinary shareholders in the quarter wasRMB2,414.6 million(US$374.0 million), compared with net loss ofRMB899.3 millionin the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter wasRMB4,125.3 million(US$638.9 million), compared with non-GAAP net loss ofRMB77.2 millionin the same quarter of 2020.\nBasic earnings per ADS was RMB1.93(US$0.30) and diluted earnings per ADS was RMB1.69(US$0.27), compared with basic and diluted net loss per ADS ofRMB0.75in the same quarter of 2020.Non-GAAP diluted earnings per ADS was RMB2.85(US$0.44), compared with non-GAAP diluted net loss per ADS ofRMB0.06in the same quarter of 2020.\nNet cash flow provided by operating activities was RMB7,371.2 million(US$1,141.7 million), compared withRMB5,495.3 millionin the same quarter of 2020, primarily due to an increase in online marketing services revenues.\nCash, cash equivalents and short-term investmentswere RMB 92.2 billion(US$14.3 billion) as ofJune 30, 2021, compared withRMB87.0 billionas ofDecember 31, 2020.\nRecent Development\nAs ofJuly 31, 2021,US$773.7 millionof the 0% convertible bonds due in 2024 have been converted into newly issued ADSs.","news_type":1},"isVote":1,"tweetType":1,"viewCount":179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}