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2022-01-05

Did Charlie Munker buy on the dips again ?

Charlie Munger's Daily Journal nearly doubles stake in China's Alibaba

2022-01-04

👍

Cathie Wood Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead

2021-12-29

Especially this BABA!!! It is the most serious one… keep going down despite its fundamentals are strong. What is happening ?

Hot Chinese ADRs Dipped in Morning Trading

2022-02-08

👍

Hot Chinese ADRs Gained in Morning Trading

2022-01-06

😀

Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes

2022-01-12

Going to the moon !!!! $200 soon!

What Charlie Munger Sees in Alibaba to Make Him Buy More

2021-12-30

Wow first it will drop but quickly it goes to the moon again!!!!

Tesla Recalls Over 475k Vehicles for Camera, Latch Issues

2021-12-29

What is happening to these Chinese stocks ???? It keep going down when US stock are already bouncing back….

Hot Chinese ADRs Dipped in Morning Trading

2022-01-01

Good sharing!

Could Apple's Market Cap Hit $4 Trillion in 2022?

2021-12-29

Long BABA for long term !

What do the Fundamentals Predict for Alibaba Group Holding Ltd - ADR (BABA) Stock?

2022-06-16

👍

Hot Chinese ADRs Gained in Morning Trading

2022-01-03

Good sharing

Sea Limited: Engaging Wars On Multiple Fronts

2022-01-01

👍

China's Didi Plans Hong Kong 'Listing by Introduction', Picks Banks -Sources

2022-01-01

👍

Why Nio, EVgo, and XL Fleet Stocks Jumped Today

2021-12-29

Great sharing !

EXPLAINER-The 'VIE' structure helping Chinese firms float abroad

2022-12-15

$S&P 500(.SPX)$

Go to Tiger App to see more news

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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>Hot Chinese ADRs Gained in 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; 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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\">2022-02-07 22:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.<img src=\"https://static.tigerbbs.com/53b3ca4d437b7b3f0033b6f488cab646\" tg-width=\"382\" tg-height=\"642\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技","PDD":"拼多多","DIDI":"滴滴(已退市)"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187970199","content_text":"JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9002852239,"gmtCreate":1641973088647,"gmtModify":1676533667941,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Going&nbsp;to the moon !!!! $200 soon!","listText":"Going&nbsp;to the moon !!!! $200 soon!","text":"Going to the moon !!!! $200 soon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9002852239","repostId":"1151213799","repostType":4,"repost":{"id":"1151213799","pubTimestamp":1641953313,"share":"https://ttm.financial/m/news/1151213799?lang=&edition=fundamental","pubTime":"2022-01-12 10:08","market":"us","language":"en","title":"What Charlie Munger Sees in Alibaba to Make Him Buy More","url":"https://stock-news.laohu8.com/highlight/detail?id=1151213799","media":"InvestorPlace","summary":"Recently a number of reports emerged, including a Jan. 5 article inBarron’smagazine, that Charlie Mu","content":"<html><head></head><body><p>Recently a number of reports emerged, including a Jan. 5 article in<i>Barron’s</i>magazine, that Charlie Munger has“doubled down”into shares of <b>Alibaba</b> <b>Group Holding</b>(NYSE:<b><u>BABA</u></b>). In the past, I have written why BABA stock looks cheap. But I wanted to write about why he might see Alibaba as a worthwhile investment to buy more shares.</p><p>Charlie Munger is 98 years old and is the Vice Chairman of <b>Berkshire Hathaway</b>(NYSE:<b><u>BRK.A</u></b>, NYSE:<b><u>BRK.B</u></b>). He has worked with Warren Buffett for a long time.</p><p>But Munger also runs his own public company, <b>Daily Journal Corporation</b>(NASDAQ:<b><u>DJCO</u></b>). Munger has been buying more BABA shares for the securities portfolio of DJCO.</p><p>The Stock Has Been Falling</p><p>People love it when they can identify a particular stock that either Buffett or Munger seems to focus on, especially when they increase their position. That is what is going on with BABA stock, especially since it has been falling.</p><p>For example, in the past three months, Alibaba basically peaked in late Oct. 2020 and has been sliding ever since then. It hit $317.14 per ADR (American Depository Receipt) on Oct. 27, 2020, and also had an interim peak of $217.83 on Feb. 17, 2021.</p><p>However, by Jan. 10, 2022, it was down to $127.65. It even had a trough price of $112.09 on Dec. 29, 2021. This means that the stock is now down almost 60% from its peak in Oct. 2020. From its mini-peak of $217.82 in early Feb. 2021, BABA stock is still down just over 41% at $127.65.</p><p>But for some reason, this hasn’t deterred Charlie Munger as Chairman of DJCO. His company is still buying more BABA stock.</p><p>Munger Loves Alibaba</p><p>A recent filing by DJCO showed that it ended 2021 with 602,060 Alibaba ADRs. According to<i>Barron’s</i>magazine, this means it bought a net 300,000 ADRs during Q4 of the Chinese company. It had owned 302,060 Alibaba ADRs at Q3 end. Moreover, according to Barron’s, it had bought 136,740 more ADRs during Q3. So, in effect, DJCO has been averaging down in its cost.</p><p>Moreover, Daily Journal didn’t make changes in other investments during Q4. So, it’s clear that Munger et al really like Alibaba stock, even though it has been falling.</p><p>What could be the reason for this? Well, as Munger is known as a long-term value buyer, BABA shares trade at a historical low in terms of its valuation metrics.</p><p>BABA Stock Is Cheap Historically</p><p>For example, right now analysts estimate that the company will earn $8.39 in earnings per share (EPS) in 2022 and $9.51 for 2023. These estimates are from Refinitiv’s analyst surveys, as shown on the<i>Yahoo! Finance</i>analysis page.</p><p>S0, at Jan. 10’s price, BABA stock is at 15.2 times 2022 earnings (i.e., $127.65/$8.39) and 13.4 times (i.e., $127.65/9.51). This is a cheap valuation situation on an absolute basis.</p><p>But on a historical basis, these metrics are also cheap relative to past P/E ratios. For example, <i>Morningstar</i> shows that the average forward P/E for the past 5 years has been 25.7 times. That is well over the 15x and 13x.</p><p>In fact, even if you average the past 4 years, including 2021 when Alibaba was cheap all year, the average forward P/E ratio is 18.6x. This implies that even this year’s 15.2 times metric is too cheap. The potential upside is 22.3% (i.e., 18.6/15.2-1). Compared to 2023 forward earnings, the stock is 38.8% too cheap (i.e., 18.6/13.4 – 1).</p><p>What to Do With BABA Stock</p><p>The stock is cheap for a reason. There is a lot of fear out there that all Chinese stocks will get delisted. In fact,<i>Barron’</i> magazine has written that investors should <i>not</i> buy BABA stock.</p><p>My attitude about this is very simple. There are always good reasons for a stock to be cheap. If the company is not going out of business, has lots of free cash flow and little debt, which is the case here, there is usually not too much to worry about. Even the delisting issue is not much of an issue, since it would likely trade on a foreign exchange. That should never deter you from buying a stock that is cheap.</p><p>So my take is that, if you can afford to copy Munger, you will probably do well in the long term.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Charlie Munger Sees in Alibaba to Make Him Buy More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Charlie Munger Sees in Alibaba to Make Him Buy More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-12 10:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/01/this-is-what-charlie-munger-sees-in-baba-stock-after-a-double-down/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Recently a number of reports emerged, including a Jan. 5 article inBarron’smagazine, that Charlie Munger has“doubled down”into shares of Alibaba Group Holding(NYSE:BABA). In the past, I have written ...</p>\n\n<a href=\"https://investorplace.com/2022/01/this-is-what-charlie-munger-sees-in-baba-stock-after-a-double-down/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://investorplace.com/2022/01/this-is-what-charlie-munger-sees-in-baba-stock-after-a-double-down/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151213799","content_text":"Recently a number of reports emerged, including a Jan. 5 article inBarron’smagazine, that Charlie Munger has“doubled down”into shares of Alibaba Group Holding(NYSE:BABA). In the past, I have written why BABA stock looks cheap. But I wanted to write about why he might see Alibaba as a worthwhile investment to buy more shares.Charlie Munger is 98 years old and is the Vice Chairman of Berkshire Hathaway(NYSE:BRK.A, NYSE:BRK.B). He has worked with Warren Buffett for a long time.But Munger also runs his own public company, Daily Journal Corporation(NASDAQ:DJCO). Munger has been buying more BABA shares for the securities portfolio of DJCO.The Stock Has Been FallingPeople love it when they can identify a particular stock that either Buffett or Munger seems to focus on, especially when they increase their position. That is what is going on with BABA stock, especially since it has been falling.For example, in the past three months, Alibaba basically peaked in late Oct. 2020 and has been sliding ever since then. It hit $317.14 per ADR (American Depository Receipt) on Oct. 27, 2020, and also had an interim peak of $217.83 on Feb. 17, 2021.However, by Jan. 10, 2022, it was down to $127.65. It even had a trough price of $112.09 on Dec. 29, 2021. This means that the stock is now down almost 60% from its peak in Oct. 2020. From its mini-peak of $217.82 in early Feb. 2021, BABA stock is still down just over 41% at $127.65.But for some reason, this hasn’t deterred Charlie Munger as Chairman of DJCO. His company is still buying more BABA stock.Munger Loves AlibabaA recent filing by DJCO showed that it ended 2021 with 602,060 Alibaba ADRs. According toBarron’smagazine, this means it bought a net 300,000 ADRs during Q4 of the Chinese company. It had owned 302,060 Alibaba ADRs at Q3 end. Moreover, according to Barron’s, it had bought 136,740 more ADRs during Q3. So, in effect, DJCO has been averaging down in its cost.Moreover, Daily Journal didn’t make changes in other investments during Q4. So, it’s clear that Munger et al really like Alibaba stock, even though it has been falling.What could be the reason for this? Well, as Munger is known as a long-term value buyer, BABA shares trade at a historical low in terms of its valuation metrics.BABA Stock Is Cheap HistoricallyFor example, right now analysts estimate that the company will earn $8.39 in earnings per share (EPS) in 2022 and $9.51 for 2023. These estimates are from Refinitiv’s analyst surveys, as shown on theYahoo! Financeanalysis page.S0, at Jan. 10’s price, BABA stock is at 15.2 times 2022 earnings (i.e., $127.65/$8.39) and 13.4 times (i.e., $127.65/9.51). This is a cheap valuation situation on an absolute basis.But on a historical basis, these metrics are also cheap relative to past P/E ratios. For example, Morningstar shows that the average forward P/E for the past 5 years has been 25.7 times. That is well over the 15x and 13x.In fact, even if you average the past 4 years, including 2021 when Alibaba was cheap all year, the average forward P/E ratio is 18.6x. This implies that even this year’s 15.2 times metric is too cheap. The potential upside is 22.3% (i.e., 18.6/15.2-1). Compared to 2023 forward earnings, the stock is 38.8% too cheap (i.e., 18.6/13.4 – 1).What to Do With BABA StockThe stock is cheap for a reason. There is a lot of fear out there that all Chinese stocks will get delisted. In fact,Barron’ magazine has written that investors should not buy BABA stock.My attitude about this is very simple. There are always good reasons for a stock to be cheap. If the company is not going out of business, has lots of free cash flow and little debt, which is the case here, there is usually not too much to worry about. Even the delisting issue is not much of an issue, since it would likely trade on a foreign exchange. That should never deter you from buying a stock that is cheap.So my take is that, if you can afford to copy Munger, you will probably do well in the long term.","news_type":1},"isVote":1,"tweetType":1,"viewCount":828,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9008851525,"gmtCreate":1641425163713,"gmtModify":1676533612813,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"😀","listText":"😀","text":"😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9008851525","repostId":"2201255535","repostType":4,"repost":{"id":"2201255535","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":1641423313,"share":"https://ttm.financial/m/news/2201255535?lang=&edition=fundamental","pubTime":"2022-01-06 06:55","market":"us","language":"en","title":"Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes","url":"https://stock-news.laohu8.com/highlight/detail?id=2201255535","media":"Reuters","summary":"* S&P 500 posts biggest daily pct fall since Nov. 26* Fed minutes show officials said labor market \"very tight\"* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%NEW YORK, Jan 5 (Reuters) - ","content":"<html><head></head><body><p>* S&amp;P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market &#34;very tight&#34;</p><p>* Indexes: Dow down 1.1%, S&amp;P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&amp;P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&amp;P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&amp;P sectors ending in the red, and Wall Street&#39;s fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed&#39;s Dec. 14-15 policy meeting, central bank policymakers said a &#34;very tight&#34; job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>&#34;Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,&#34; said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes &#34;more hawkish than expected.&#34;</p><p>The S&amp;P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&amp;P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&amp;P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed&#39;s benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department&#39;s more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes</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\">\nNasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-06 06:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* S&amp;P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market &#34;very tight&#34;</p><p>* Indexes: Dow down 1.1%, S&amp;P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&amp;P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&amp;P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&amp;P sectors ending in the red, and Wall Street&#39;s fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed&#39;s Dec. 14-15 policy meeting, central bank policymakers said a &#34;very tight&#34; job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>&#34;Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,&#34; said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes &#34;more hawkish than expected.&#34;</p><p>The S&amp;P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&amp;P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&amp;P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed&#39;s benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department&#39;s more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","BK4504":"桥水持仓",".SPX":"S&P 500 Index","SPY":"标普500ETF","BK4534":"瑞士信贷持仓","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201255535","content_text":"* S&P 500 posts biggest daily pct fall since Nov. 26* Fed minutes show officials said labor market \"very tight\"* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a \"very tight\" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.\"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes \"more hawkish than expected.\"The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.Growth shares have been under pressure from a recent rise in U.S. Treasury yields.The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":706,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001740527,"gmtCreate":1641337366640,"gmtModify":1676533598767,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Did Charlie Munker buy on the dips again ?","listText":"Did Charlie Munker buy on the dips again ?","text":"Did Charlie Munker buy on the dips again ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001740527","repostId":"2201728876","repostType":2,"repost":{"id":"2201728876","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":1641335426,"share":"https://ttm.financial/m/news/2201728876?lang=&edition=fundamental","pubTime":"2022-01-05 06:30","market":"us","language":"en","title":"Charlie Munger's Daily Journal nearly doubles stake in China's Alibaba","url":"https://stock-news.laohu8.com/highlight/detail?id=2201728876","media":"Reuters","summary":"Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett'","content":"<html><head></head><body><p>Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett&#39;s longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.</p><p>The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.</p><p>Munger, 98, has long been bullish on China.</p><p>Alibaba&#39;s U.S.-listed shares had in 2021 lost more than 48% of their value.</p><p>On Tuesday, the shares pared losses and closed down 0.7% at $119.56.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Charlie Munger's Daily Journal nearly doubles stake in China's Alibaba</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\">\nCharlie Munger's Daily Journal nearly doubles stake in China's Alibaba\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-05 06:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett&#39;s longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.</p><p>The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.</p><p>Munger, 98, has long been bullish on China.</p><p>Alibaba&#39;s U.S.-listed shares had in 2021 lost more than 48% of their value.</p><p>On Tuesday, the shares pared losses and closed down 0.7% at $119.56.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","BK4111":"出版","09988":"阿里巴巴-W"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201728876","content_text":"Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett's longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.Munger, 98, has long been bullish on China.Alibaba's U.S.-listed shares had in 2021 lost more than 48% of their value.On Tuesday, the shares pared losses and closed down 0.7% at $119.56.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001403987,"gmtCreate":1641291931904,"gmtModify":1676533593632,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001403987","repostId":"1124443897","repostType":4,"repost":{"id":"1124443897","pubTimestamp":1641289590,"share":"https://ttm.financial/m/news/1124443897?lang=&edition=fundamental","pubTime":"2022-01-04 17:46","market":"us","language":"en","title":"Cathie Wood Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead","url":"https://stock-news.laohu8.com/highlight/detail?id=1124443897","media":"Benzinga","summary":"Cathie Wood’sArk Investment Management on Monday sold more shares in Tesla Inc(NASDAQ:TSLA), startin","content":"<html><head></head><body><p><b>Cathie Wood</b>’s<b>Ark Investment Management</b> on Monday sold more shares in <b>Tesla Inc</b>(NASDAQ:TSLA), starting the new year with more profit booking in the electric vehicle stock as it jumped higher after reporting fourth-quarter delivery volumes that far surpassed expectations.</p><p>The popular asset management firm sold 39,262 shares — estimated to be worth $47 million — in Tesla.</p><p>The <b>Elon Musk</b>-led company’s stock soared 13.5% on Monday to close at $1,199.8 a share. The stock rose about 50% in 2021.</p><p>Wood’s firm has exposure in Tesla via three of its exchange-traded funds — the <b>Ark Innovation ETF</b>(NYSE:ARKK), the <b>Ark Autonomous Technology &amp; Robotics ETF</b>(NYSE:ARKQ) and the <b>Ark Next Generation Internet ETF</b>(NYSE:ARKW).</p><p>The three ETFs held about 1.75 million shares worth $1.84 billion in Tesla, prior to Monday’s trade.</p><p>Tesla on Sunday smashed fourth-quarter delivery records, posting its biggest quarterly and full-year delivery volume.</p><p>A Tesla super-bull, Wood has long favored the Musk-led company and set a $3,000 price target for the electric vehicle stock for 2025.</p><p>The St. Petersburg, Florida-based Ark has recently also begun buying shares in the U.S.-listed Chinese electric vehicle maker <b>Xpeng Inc</b>(NYSE:XPEV).</p><p>Here are some other key Ark Invest trades from Monday:</p><ul><li>Bought 442,456 shares — estimated to be worth $8.2 million — in <b>Palantir Technologies Inc</b>(NYSE:PLTR). Shares of the Peter Thiel-founded data company closed 1.8% higher at $18.5 a share.</li><li>Sold 359,577 shares — estimated to be worth $15.3 million — in <b>Twitter Inc</b>(NYSE:TWTR). The micro-blogging company’s stock closed 1.3% lower at $42.7 a share.</li><li>Bought 345,771 shares — estimated to be worth $6.4 million — in <b>Robinhood</b> <b>Markets Inc</b>(NASDAQ:HOOD). Shares of the commission-free trading app that deals in stocks, exchange-traded funds and cryptocurrencies closed 3.8% higher at $18.4 a share.</li></ul></body></html>","source":"lsy1606299360108","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 Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead</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 Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-04 17:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/trading-ideas/long-ideas/22/01/24873551/cathie-wood-continues-booking-profit-in-tesla-as-stock-shoots-up-loads-up-on-these-2-sto><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’sArk Investment Management on Monday sold more shares in Tesla Inc(NASDAQ:TSLA), starting the new year with more profit booking in the electric vehicle stock as it jumped higher after ...</p>\n\n<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/22/01/24873551/cathie-wood-continues-booking-profit-in-tesla-as-stock-shoots-up-loads-up-on-these-2-sto\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PLTR":"Palantir Technologies Inc.","HOOD":"Robinhood","TWTR":"Twitter"},"source_url":"https://www.benzinga.com/trading-ideas/long-ideas/22/01/24873551/cathie-wood-continues-booking-profit-in-tesla-as-stock-shoots-up-loads-up-on-these-2-sto","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124443897","content_text":"Cathie Wood’sArk Investment Management on Monday sold more shares in Tesla Inc(NASDAQ:TSLA), starting the new year with more profit booking in the electric vehicle stock as it jumped higher after reporting fourth-quarter delivery volumes that far surpassed expectations.The popular asset management firm sold 39,262 shares — estimated to be worth $47 million — in Tesla.The Elon Musk-led company’s stock soared 13.5% on Monday to close at $1,199.8 a share. The stock rose about 50% in 2021.Wood’s firm has exposure in Tesla via three of its exchange-traded funds — the Ark Innovation ETF(NYSE:ARKK), the Ark Autonomous Technology & Robotics ETF(NYSE:ARKQ) and the Ark Next Generation Internet ETF(NYSE:ARKW).The three ETFs held about 1.75 million shares worth $1.84 billion in Tesla, prior to Monday’s trade.Tesla on Sunday smashed fourth-quarter delivery records, posting its biggest quarterly and full-year delivery volume.A Tesla super-bull, Wood has long favored the Musk-led company and set a $3,000 price target for the electric vehicle stock for 2025.The St. Petersburg, Florida-based Ark has recently also begun buying shares in the U.S.-listed Chinese electric vehicle maker Xpeng Inc(NYSE:XPEV).Here are some other key Ark Invest trades from Monday:Bought 442,456 shares — estimated to be worth $8.2 million — in Palantir Technologies Inc(NYSE:PLTR). Shares of the Peter Thiel-founded data company closed 1.8% higher at $18.5 a share.Sold 359,577 shares — estimated to be worth $15.3 million — in Twitter Inc(NYSE:TWTR). The micro-blogging company’s stock closed 1.3% lower at $42.7 a share.Bought 345,771 shares — estimated to be worth $6.4 million — in Robinhood Markets Inc(NASDAQ:HOOD). Shares of the commission-free trading app that deals in stocks, exchange-traded funds and cryptocurrencies closed 3.8% higher at $18.4 a share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001189726,"gmtCreate":1641189636973,"gmtModify":1676533580969,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Good sharing&nbsp;","listText":"Good sharing&nbsp;","text":"Good sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001189726","repostId":"1171608797","repostType":2,"repost":{"id":"1171608797","pubTimestamp":1641177163,"share":"https://ttm.financial/m/news/1171608797?lang=&edition=fundamental","pubTime":"2022-01-03 10:32","market":"us","language":"en","title":"Sea Limited: Engaging Wars On Multiple Fronts","url":"https://stock-news.laohu8.com/highlight/detail?id=1171608797","media":"Seeking Alpha","summary":"SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets ","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Shopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.</li><li>While Garena growth seems to be tapering down, we do not think its growth has peaked yet due to its strong monetization capabilities in the U.S and others.</li><li>SeaMoney is intentionally ramping up its sales and marketing efforts to drive more adoption to ShopeePay, and that is temporarily suppressing its margins.</li><li>Using a sum-of-parts valuation, the intrinsic value of the business is $341.33, a 55% upside from the current share price.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e67f7a326258558c1021793376f4c25\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"/><span>Wachiwit/iStock Editorial via Getty Images</span></p><p><b>Overview</b></p><p>Sea Limited is an internet platform company that consists of three main business segments – Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (digital financial services). Throughout the years, Sea Limited has been reinvesting aggressively into their business to capture market share rapidly and grow their user base in every region. Starting out from Singapore, they have since achieved a respectable presence in Southeast Asia, Taiwan, and most recently in Latin America. In this article, we will be unpacking Sea Limited Q3’21 results, as we share our thoughts on the quarter. Do also head to the previous article we have written for Sea Limited.</p><p><b>Garena</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/11f0e27a4acd7a2b1671fd01bf86d291\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>In Q3’21, Garena’s quarterly active users (“QAU”) grew 0.5% sequentially to 729 million, a slowdown in users growth due the law of large numbers. Bookings growth has also stagnated as a result. More users are increasingly transitioning into paying users as the paying user ratio (“PUR”) rose to 12.8%. Based on the low PUR, there is still a large opportunity to convert its existing user base into paying users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/614efda95d41b79b0ed25736f40cbec8\" tg-width=\"1056\" tg-height=\"652\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Next, Garena’s average revenue per paying user (“ARPPU”) continues to taper down to $12.88, and that is likely due to most users coming from India and Latin America with much lower spending power. We will not rule out the possibility that Garena may increase the pricing of its in-game items to increase its monetization. Over time, the two key metrics that we should be measuring closely are PUR and ARPPU, and both tell us whether Garena can improve its monetizing capabilities to sustain its growth rate.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac621fe91314553c8c3337633f7055c6\" tg-width=\"970\" tg-height=\"759\" referrerpolicy=\"no-referrer\"/><span>Source: Sensortower</span></p><p>What is impressive during the quarter is that Garena Free Fire (“FF”) revenue per download (“RPD”) heavily surpassed its rivals in the United States, even though it has a much smaller user base. And despite PUBG re-launching in India in Q2&#39;21, FF is still leading by the highest RPD, as well as app rankings, showing that it has better monetization capabilities than its peers. According to SensorTower, FF was also the top five most downloaded games worldwide for six consecutive quarters, and in Q3’21, it was ranked as top three. With the game nearing five years of operation, this removes any doubt that its growth has peaked, and it is well on its way to building an enduring franchise.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cb798c3496a01756720d7566f71ec6f\" tg-width=\"900\" tg-height=\"900\" referrerpolicy=\"no-referrer\"/><span>Source: Free Fire Twitter</span></p><p>Garena Free Fire Max, an enhanced version of the current FF game was also launched in the quarter. Interestingly, what caught our eye was the introduction of a new feature called “Craftland”, where FF offers a “platform” for users to unleash their creativity through creating their own maps and inviting their friends over to play. This helps to increase social interaction, engagements, and also the stickiness of the game. As of today, it has over 4.57 million downloads on Google Play Store and it has a high review of over 4 stars. If we head over to Youtube, there are plenty of videos related to “Craftland”, showing how well received it is by the FF community. Looking ahead, Garena seeks to introduce more content, features, modes, and gameplays to sustain its existing strong base of users.</p><p>On top of that, Garena’s strong global presence has also received accelerated interest from worldwide studios looking to partner up with them, and management states that they are working on new ideas in the pipeline.</p><p><b>Shopee</b></p><p><b>Expansion into other markets</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a9be6ee805f0031bdbda5f9091e2d818\" tg-width=\"748\" tg-height=\"556\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee India</span></p><p>Shopee has also expanded into multiple markets, including France,Poland,Spain,India, and also Argentina. If we head to the websites, there are a few common traits that we observed, and that is Shopee replicating its playbook by giving out free shipping, free commission (to sellers), cashback, and vouchers across its platform to entice users to use the platform and to spur the flywheel effect. This has proven to work in countries in SEA and Brazil, as evident from its market leadership.</p><p><b>Operating and Financial Metrics</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e705eacc3dc34accf3e60455b81f0112\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Shopee recorded a growth rate of 80% which saw its GMV reach US$16.8 billion. Recently, Alibaba (NYSE:BABA) has disclosed the LTM revenue of Lazada, which is US$21 billion, up 60% YOY. By comparison, Shopee LTM GMV grew 90% YOY to $US56 billion, heavily surpassing that of its rival.</p><p>There are also signs of improving monetization as the take-rate increased sequentially to 8.93% during the quarter. As Shopee scales larger over time, it has the ability to increase its take-rate without losing its sellers as it is able to bring higher sales volume to its sellers than any other platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f793d575a267fe3e4fe60299189f29e\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Based on the total addressable market (“TAM”) of US$260 billion GMV, Shopee is the clear market leader with 21% of the TAM, followed by Lazada&#39;s 8%. This shows how quickly Shopee has been gobbling up market share, making it an undisputed leader in the region.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/88f5af1de4543fd03fcebaa9de4c1e3c\" tg-width=\"1280\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/><span>Source: Google Trend</span></p><p>Data from Google Trend also shows that Shopee continues to lead ahead of Lazada and Tokopedia. Interestingly, Alibaba’s management has also laid out a goal to achieve a $US 100 billion GMV, although a timeline is not given. Alibaba is re-focusing its attention on the Southeast Asia market.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0411927ec3f53dbbbd0a669cae109dc7\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Shopee’s order volume grew 129% YOY, which is its ninth-consecutive quarter of triple-digit growth rate. By comparison, Lazada’s order growth rate was only 82%. This tells us that users are spending more on Shopee than Lazada, which is not surprising due to Shopee’s overwhelming consumers’ mindshare. To get an outlook into next quarter’s results, Shopee recorded 13 times more items sold on an average day in the first 2 hours of its 12.12 event promotion, revealing how successful the campaign was.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f5b0365bf05142d748d698ab1c3d0f1\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>The average order value (&#34;AOV&#34;) continues to decline to $9.88 in the quarter. In our view, this is not a cause for worry. In the newer markets that Shopee has expanded into, users tend to start with smaller purchases with lower AOV. Over time, as they established more trust with the platform, they will increasingly move towards purchasing higher-ticket items.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3be44b2dc1e75eaf3db57e1d823ecaa\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Turning to profitability, Shopee’s gross profit margin (“GPM”) was 26.72%, compared to 31.94% in Q2’21. This was largely due to the higher cost of revenue in the quarter, including higher logistic costs associated with order growth and value-added services such as inventory management and fulfillment services provided to customers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d06185d6b36d451ed2095fabbc052ba6\" tg-width=\"1280\" tg-height=\"790\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Sales and marketing expenses (“S&amp;M”) expenses increased 124% YOY to $689 million, as Shopee ramp up its S&amp;M efforts to capture more market share across its existing and new markets. As a result, S&amp;M expenses as a % of GMV continue to fluctuate at 4.10%. Considering that some of its operating markets are in the early stages, investments may increase if the management spots any clear opportunities.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8aaa58e08ff935169c615806c98eadca\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>As a result of the lower gross profit and higher S&amp;M expenses, Shopee’s adjusted loss per order fluctuates at a negative $0.40 in the quarter. This is notable considering Shopee entered many new countries with zero monetization, and took its profits from its matured markets to finance S&amp;M expenses in the newer markets.</p><p>This is supported by a statement by Chief Corporate Officer Wang in Q2 2021:</p><blockquote>In terms of positive EBITDA from Malaysia, again, we&#39;re very happy to report that Malaysia has become the second market to achieve positive EBITDA after Taiwan for our Shopee business. And of course, it is followed by the results of better monetization over time as well as improving operational efficiency over time. As we stressed before that the marketplace e-commerce model in terms of profitability is highly proven and with scale and strong market leadership and ability to deliver a clear and increasing value to our seller communities, we will be able to make a strong profit down the road. And this is basically generating value to our communities and, by that, will generate value to our shareholders as well.</blockquote><p><b>Battle with the Incumbents</b></p><p>While Shopee expands aggressively, it is also important to consider the competitive landscape across its markets, and that includes the incumbent Allegro, a 20-year-old well-established local e-commerce platform in Poland, and Mercado Libre, the biggest e-commerce platform across Latin America (“LATAM”), particularly in Brazil, Mexico, and Argentina.</p><p><b>Latin America</b></p><p>According to Similarweb, Shopee’s web traffic is increasing steadily across LATAM, which include Colombia,Mexico, and Brazil, although MELI is leading by a wide margin.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8e8ab3232fdc0a70c67186b0bae587c\" tg-width=\"552\" tg-height=\"556\" referrerpolicy=\"no-referrer\"/><span>Top shopping app in Colombia, Source: SensorTower</span></p><p>However, based on the app rankings on SensorTower, Shopee has surpassed and overtook MELI as the top shopping app across Mexico,Chile, Colombia, and Brazil. This was accomplished within a span of 6 months, excluding its operation in Brazil.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d50771a33f9bbe4451ae3b496eeed1db\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Instagram</span></p><p>Alternatively, we can also track their social media followers as this gives us a sense of Shopee’s brand awareness in the region. As of ending Dec 2021, it has more followers than Mercardo in Colombia and Brazil, with Chile and Mexico coming close.</p><p><b>Poland</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82d28504ed7a24520b23f28860b28fed\" tg-width=\"547\" tg-height=\"472\" referrerpolicy=\"no-referrer\"/><span>Figure - Shopee is the #1 shopping app in Poland, Source: Sensortower</span></p><p>Similarly in Poland, Shopee follows the same footprint whereby Allegro’s (WSE:ALE) web traffic leads by a mile, but it was overtaken by Shopee as the number one shopping app, and this was achieved within 3 months since Shopee was launched. In addition, Shopee and Allegro have 12.8k and 68k Instagram followers, respectively.</p><p>Although Allegro has over 10 million downloads on Google Play Store, this is insignificant considering that it is only a fraction of its total website visits of 222 million. This may suggest that there is lesser focus and emphasis on the mobile app.</p><p><b>Shopee Concluding Thoughts</b></p><p>It is not surprising to see this data surfaced because users in Poland and LATAM are more accustomed to shopping on the browser, and so there was much less emphasis on mobile. Therefore, Shopee leveraged its mobile-first approach, capitalizing on the opportunity and that has proven to be successful based on the data from third-party sources.</p><p>While investors seem to be concerned that Shopee is fighting too many wars on its front, including its expansion into India, Argentina, and France, the management has demonstrated that they are capable enough to execute given its strong localization capabilities. This long-term approach to sacrifice short-term profitability and pursue additional market share are also well-aligned to the shareholders.</p><p><b>Digital Finance - SeaMoney</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5d530155412cffe0c2f8eb8d2f56adb7\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>In Q3’21, SeaMoney’s total payment volume (“TPV”) grew 119% YOY to reach $4.6 billion, and this was mainly driven by the increase in customers’ adoption of ShopeePay. There are also improvements in monetization as take-rate increased to 2.9% from 0.7% in Q3’20, and as a result, revenue grew at a staggering rate of over 800% YOY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eefc6aab1a7fe29f20f51ef27681affa\" tg-width=\"946\" tg-height=\"604\" referrerpolicy=\"no-referrer\"/><span>Source: Own&#39;s Graph</span></p><p>During the earnings call, the management also talked about an inherent flywheel effect in SeaMoney, that as more merchants join ShopeePay, the number of use cases increases. This encourages consumers to use ShopeePay and thus drives further adoption. When the user base grows larger and larger, more merchants expressed their interest to get on board, accelerating the acquisition on both sides (merchants and consumers) of the business. Users also get additional benefits such as cashback and vouchers, which help to spur the network effect. Over time, customer acquisition costs (“CAC”) will also come down as more users join organically.</p><p>ShopeePay’s use cases include bill payments, contactless payment at offline retails, paying for taxi rides (i.e. partnership with Blue Bird Taxi in Indonesia), and many more.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17a8cd811e58a9ca86e248cb272f77e5\" tg-width=\"1280\" tg-height=\"787\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>S&amp;M expenses increased 65% YoY as SeaMoney drives more adoption to its mobile wallet business. However, S&amp;M expenses as a % of TPV have reduced to 4.26% from 5.64% a year ago, showing sales efficiency as lower marketing spending are translating into higher revenue growth. If we add back the S&amp;M expenses to its adjusted EBITDA, its normalized margin for this quarter is actually 27.8%. This shows that its margin is artificially depressed as the management is intentionally spending on S&amp;M to grow its market share.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/609d411ca867f1c02768681be73e44d6\" tg-width=\"1280\" tg-height=\"792\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>As of Q3’21, the number of quarterly paying users (“QPU”) reached 39.7 million, a 20% sequential growth from Q2’21. This existing user base is important as its digital bank is set to launch in 2022.</p><p>Diving deeper, we can get a glimpse into the upcoming financial products that will be launched based on Linkedin’s job openings, and that includes insurance,wealth management,prepaid cards, and as well as credit services revolving around repayment loans and revolving credits. And in Sep 2021, SeaMoney also launched its digital bank app in Indonesia.</p><p><b>Risks</b></p><p>The slowdown in Garena’s growth rate</p><ul><li><p>As Garena’s growth starts to taper down, it is important for us to track whether the PUR and ARPPU are increasing over time as these tell us whether they are improving their monetization capabilities.</p></li><li><p>However, we do not expect growth to decline drastically due to the highly engaging nature of the game, and as well as new ideas in the pipeline.</p></li></ul><p>Shopee aggressive expansion into new markets</p><ul><li><p>Shopee entry into new markets and the competitive pressure may accelerate its cash burn rate and erode its profit margin over time. However, we believe the risk is mitigated for a few reasons — due to the hefty $11.2 billion cash on its balance sheet, cash cow of Garena, and not to mention, Shopee is also profitable on a GPM basis.</p></li><li><p>Going forward, we should track Shopee’s website traffic,app rankings,google trends,social media followings to see if these investments are translating into results.</p></li></ul><p><b>Valuation</b></p><p>To calculate the intrinsic value of Sea Group, we will be using the sum-of-the-parts (“SOTP”) valuation model and some comparables.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e1008fe7564b4ddff7f3b72591d647e\" tg-width=\"1280\" tg-height=\"569\" referrerpolicy=\"no-referrer\"/><span>Source: Morningstar, OutlookIndia</span></p><p><b>Garena Valuation</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a02ef5f5a79b78be636a73b04be45e78\" tg-width=\"1280\" tg-height=\"137\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>To determine a reasonable multiple to assign to Garena, we cross-reference to other gaming peers such as Electronic Arts (NASDAQ:EA) and Activision Blizzard (NASDAQ:ATVI), which are trading at roughly 18x multiple. Considering that both companies are growing much faster, and growth rate in Q3’21, an implied multiple of 18x and a forward growth rate of 25% are reasonable. Therefore, Garena is worth approximately $63.83 billion.</p><p><b>Shopee Valuation</b></p><p>Looking at comparable transactions of Flipkart, Tokopedia, and Lazada, along with assessing the quality of each business, we think of a fair multiple of EV/GMV as 1x.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e90103e5677261fee18f312dd39b00\" tg-width=\"1280\" tg-height=\"129\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>With an implied EV/GMV of 1x, and a forward 100% growth rate on Shopee’s last 12 months (“LTM”) GMV of $56 billion, Shopee is worth $112.6 billion.</p><p><b>SeaMoney Valuation</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d5a874c9c714f6fda34c50a4354d107\" tg-width=\"423\" tg-height=\"535\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>Referencing from matured peers such as Paypal (NASDAQ: PYPL) with an operating margin of 25% and take-rate of 2.3%, we think that these financial metrics are achievable for SeaMoney. With a forward growth rate of 100% based on Q3’21 results, considering that it is still in the early stages and yet to launch its digital bank, this gives us an implied EV/TPV of 0.3x.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/08c8ea50bcca5f450ad3c27a79390bad\" tg-width=\"1280\" tg-height=\"129\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>With an implied EV/TPV of 0.3x, and a growth of 100% on the annualized TPV (based on Q3’21 TPV), SeaMoney is worth $11 billion.</p><p><b>Entire Business</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/340a2ecbea6bcb1460204dbe8aa82e58\" tg-width=\"1280\" tg-height=\"813\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>After calculating the individual business segments, this gives us a market cap of $196.9 billion for the entire business, after accounting for cash and debt. With shares outstanding of 576 million, after factoring in 4% dilution, this gives us an intrinsic value of $341.33 per share, a 55.4% upside from the current share price.</p><p><b>Conclusion</b></p><p>Shopee continues to extend its market leadership position by pursuing new growth opportunities in new markets. While Shopee seems to be fighting too many wars on its front, it has demonstrated that it has strong localization capabilities and the know-how to expand overseas as Shopee tops the shopping app across Latin America and Poland within a short span of 3 to 6 months. However, the incumbents are still leading by website traffic, and it is still early to judge whether Shopee could be a real threat to its rivals.</p><p>Next, while Garena’s growth seems to be slowing down, we do not think its growth has reached its peak because of its strong growth exhibited in the US, paying user ratio of only 12.8%, and potential games in the pipelines. With the management track record of creating highly engaging content on FF, we believe it can be an enduring franchise for years to come, with growth likely not to taper down so quickly.</p><p>The management is intentionally suppressing SeaMoney’s margins by ramping up the S&amp;M efforts to drive more adoption to its mobile wallet business. However, they have demonstrated sales efficiency as S&amp;M as % of revenue is declining YOY. With the digital bank set to launch in Singapore in FY2022, we believe SeaMoney is still in the early stages of growth.</p><p>Finally, based on our estimation, we believe Sea Group is worth $341.33 per share. This is a 55.4% upside from the current share price.</p><p>This article was written by Superstocks Seekers.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: Engaging Wars On Multiple Fronts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited: Engaging Wars On Multiple Fronts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-03 10:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.While Garena growth seems to be tapering down, we do not think its ...</p>\n\n<a href=\"https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171608797","content_text":"SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.While Garena growth seems to be tapering down, we do not think its growth has peaked yet due to its strong monetization capabilities in the U.S and others.SeaMoney is intentionally ramping up its sales and marketing efforts to drive more adoption to ShopeePay, and that is temporarily suppressing its margins.Using a sum-of-parts valuation, the intrinsic value of the business is $341.33, a 55% upside from the current share price.Wachiwit/iStock Editorial via Getty ImagesOverviewSea Limited is an internet platform company that consists of three main business segments – Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (digital financial services). Throughout the years, Sea Limited has been reinvesting aggressively into their business to capture market share rapidly and grow their user base in every region. Starting out from Singapore, they have since achieved a respectable presence in Southeast Asia, Taiwan, and most recently in Latin America. In this article, we will be unpacking Sea Limited Q3’21 results, as we share our thoughts on the quarter. Do also head to the previous article we have written for Sea Limited.GarenaSource: Sea Quarterly ReportIn Q3’21, Garena’s quarterly active users (“QAU”) grew 0.5% sequentially to 729 million, a slowdown in users growth due the law of large numbers. Bookings growth has also stagnated as a result. More users are increasingly transitioning into paying users as the paying user ratio (“PUR”) rose to 12.8%. Based on the low PUR, there is still a large opportunity to convert its existing user base into paying users.Source: Sea Quarterly ReportNext, Garena’s average revenue per paying user (“ARPPU”) continues to taper down to $12.88, and that is likely due to most users coming from India and Latin America with much lower spending power. We will not rule out the possibility that Garena may increase the pricing of its in-game items to increase its monetization. Over time, the two key metrics that we should be measuring closely are PUR and ARPPU, and both tell us whether Garena can improve its monetizing capabilities to sustain its growth rate.Source: SensortowerWhat is impressive during the quarter is that Garena Free Fire (“FF”) revenue per download (“RPD”) heavily surpassed its rivals in the United States, even though it has a much smaller user base. And despite PUBG re-launching in India in Q2'21, FF is still leading by the highest RPD, as well as app rankings, showing that it has better monetization capabilities than its peers. According to SensorTower, FF was also the top five most downloaded games worldwide for six consecutive quarters, and in Q3’21, it was ranked as top three. With the game nearing five years of operation, this removes any doubt that its growth has peaked, and it is well on its way to building an enduring franchise.Source: Free Fire TwitterGarena Free Fire Max, an enhanced version of the current FF game was also launched in the quarter. Interestingly, what caught our eye was the introduction of a new feature called “Craftland”, where FF offers a “platform” for users to unleash their creativity through creating their own maps and inviting their friends over to play. This helps to increase social interaction, engagements, and also the stickiness of the game. As of today, it has over 4.57 million downloads on Google Play Store and it has a high review of over 4 stars. If we head over to Youtube, there are plenty of videos related to “Craftland”, showing how well received it is by the FF community. Looking ahead, Garena seeks to introduce more content, features, modes, and gameplays to sustain its existing strong base of users.On top of that, Garena’s strong global presence has also received accelerated interest from worldwide studios looking to partner up with them, and management states that they are working on new ideas in the pipeline.ShopeeExpansion into other marketsSource: Shopee IndiaShopee has also expanded into multiple markets, including France,Poland,Spain,India, and also Argentina. If we head to the websites, there are a few common traits that we observed, and that is Shopee replicating its playbook by giving out free shipping, free commission (to sellers), cashback, and vouchers across its platform to entice users to use the platform and to spur the flywheel effect. This has proven to work in countries in SEA and Brazil, as evident from its market leadership.Operating and Financial MetricsSource: Sea Quarterly ReportShopee recorded a growth rate of 80% which saw its GMV reach US$16.8 billion. Recently, Alibaba (NYSE:BABA) has disclosed the LTM revenue of Lazada, which is US$21 billion, up 60% YOY. By comparison, Shopee LTM GMV grew 90% YOY to $US56 billion, heavily surpassing that of its rival.There are also signs of improving monetization as the take-rate increased sequentially to 8.93% during the quarter. As Shopee scales larger over time, it has the ability to increase its take-rate without losing its sellers as it is able to bring higher sales volume to its sellers than any other platform.Source: Sea Quarterly ReportBased on the total addressable market (“TAM”) of US$260 billion GMV, Shopee is the clear market leader with 21% of the TAM, followed by Lazada's 8%. This shows how quickly Shopee has been gobbling up market share, making it an undisputed leader in the region.Source: Google TrendData from Google Trend also shows that Shopee continues to lead ahead of Lazada and Tokopedia. Interestingly, Alibaba’s management has also laid out a goal to achieve a $US 100 billion GMV, although a timeline is not given. Alibaba is re-focusing its attention on the Southeast Asia market.Source: Sea Quarterly ReportShopee’s order volume grew 129% YOY, which is its ninth-consecutive quarter of triple-digit growth rate. By comparison, Lazada’s order growth rate was only 82%. This tells us that users are spending more on Shopee than Lazada, which is not surprising due to Shopee’s overwhelming consumers’ mindshare. To get an outlook into next quarter’s results, Shopee recorded 13 times more items sold on an average day in the first 2 hours of its 12.12 event promotion, revealing how successful the campaign was.Source: Sea Quarterly ReportThe average order value (\"AOV\") continues to decline to $9.88 in the quarter. In our view, this is not a cause for worry. In the newer markets that Shopee has expanded into, users tend to start with smaller purchases with lower AOV. Over time, as they established more trust with the platform, they will increasingly move towards purchasing higher-ticket items.Source: Sea Quarterly ReportTurning to profitability, Shopee’s gross profit margin (“GPM”) was 26.72%, compared to 31.94% in Q2’21. This was largely due to the higher cost of revenue in the quarter, including higher logistic costs associated with order growth and value-added services such as inventory management and fulfillment services provided to customers.Source: Sea Quarterly ReportSales and marketing expenses (“S&M”) expenses increased 124% YOY to $689 million, as Shopee ramp up its S&M efforts to capture more market share across its existing and new markets. As a result, S&M expenses as a % of GMV continue to fluctuate at 4.10%. Considering that some of its operating markets are in the early stages, investments may increase if the management spots any clear opportunities.Source: Sea Quarterly ReportAs a result of the lower gross profit and higher S&M expenses, Shopee’s adjusted loss per order fluctuates at a negative $0.40 in the quarter. This is notable considering Shopee entered many new countries with zero monetization, and took its profits from its matured markets to finance S&M expenses in the newer markets.This is supported by a statement by Chief Corporate Officer Wang in Q2 2021:In terms of positive EBITDA from Malaysia, again, we're very happy to report that Malaysia has become the second market to achieve positive EBITDA after Taiwan for our Shopee business. And of course, it is followed by the results of better monetization over time as well as improving operational efficiency over time. As we stressed before that the marketplace e-commerce model in terms of profitability is highly proven and with scale and strong market leadership and ability to deliver a clear and increasing value to our seller communities, we will be able to make a strong profit down the road. And this is basically generating value to our communities and, by that, will generate value to our shareholders as well.Battle with the IncumbentsWhile Shopee expands aggressively, it is also important to consider the competitive landscape across its markets, and that includes the incumbent Allegro, a 20-year-old well-established local e-commerce platform in Poland, and Mercado Libre, the biggest e-commerce platform across Latin America (“LATAM”), particularly in Brazil, Mexico, and Argentina.Latin AmericaAccording to Similarweb, Shopee’s web traffic is increasing steadily across LATAM, which include Colombia,Mexico, and Brazil, although MELI is leading by a wide margin.Top shopping app in Colombia, Source: SensorTowerHowever, based on the app rankings on SensorTower, Shopee has surpassed and overtook MELI as the top shopping app across Mexico,Chile, Colombia, and Brazil. This was accomplished within a span of 6 months, excluding its operation in Brazil.Source: InstagramAlternatively, we can also track their social media followers as this gives us a sense of Shopee’s brand awareness in the region. As of ending Dec 2021, it has more followers than Mercardo in Colombia and Brazil, with Chile and Mexico coming close.PolandFigure - Shopee is the #1 shopping app in Poland, Source: SensortowerSimilarly in Poland, Shopee follows the same footprint whereby Allegro’s (WSE:ALE) web traffic leads by a mile, but it was overtaken by Shopee as the number one shopping app, and this was achieved within 3 months since Shopee was launched. In addition, Shopee and Allegro have 12.8k and 68k Instagram followers, respectively.Although Allegro has over 10 million downloads on Google Play Store, this is insignificant considering that it is only a fraction of its total website visits of 222 million. This may suggest that there is lesser focus and emphasis on the mobile app.Shopee Concluding ThoughtsIt is not surprising to see this data surfaced because users in Poland and LATAM are more accustomed to shopping on the browser, and so there was much less emphasis on mobile. Therefore, Shopee leveraged its mobile-first approach, capitalizing on the opportunity and that has proven to be successful based on the data from third-party sources.While investors seem to be concerned that Shopee is fighting too many wars on its front, including its expansion into India, Argentina, and France, the management has demonstrated that they are capable enough to execute given its strong localization capabilities. This long-term approach to sacrifice short-term profitability and pursue additional market share are also well-aligned to the shareholders.Digital Finance - SeaMoneySource: Sea Quarterly ReportIn Q3’21, SeaMoney’s total payment volume (“TPV”) grew 119% YOY to reach $4.6 billion, and this was mainly driven by the increase in customers’ adoption of ShopeePay. There are also improvements in monetization as take-rate increased to 2.9% from 0.7% in Q3’20, and as a result, revenue grew at a staggering rate of over 800% YOY.Source: Own's GraphDuring the earnings call, the management also talked about an inherent flywheel effect in SeaMoney, that as more merchants join ShopeePay, the number of use cases increases. This encourages consumers to use ShopeePay and thus drives further adoption. When the user base grows larger and larger, more merchants expressed their interest to get on board, accelerating the acquisition on both sides (merchants and consumers) of the business. Users also get additional benefits such as cashback and vouchers, which help to spur the network effect. Over time, customer acquisition costs (“CAC”) will also come down as more users join organically.ShopeePay’s use cases include bill payments, contactless payment at offline retails, paying for taxi rides (i.e. partnership with Blue Bird Taxi in Indonesia), and many more.Source: Sea Quarterly ReportS&M expenses increased 65% YoY as SeaMoney drives more adoption to its mobile wallet business. However, S&M expenses as a % of TPV have reduced to 4.26% from 5.64% a year ago, showing sales efficiency as lower marketing spending are translating into higher revenue growth. If we add back the S&M expenses to its adjusted EBITDA, its normalized margin for this quarter is actually 27.8%. This shows that its margin is artificially depressed as the management is intentionally spending on S&M to grow its market share.Source: Sea Quarterly ReportAs of Q3’21, the number of quarterly paying users (“QPU”) reached 39.7 million, a 20% sequential growth from Q2’21. This existing user base is important as its digital bank is set to launch in 2022.Diving deeper, we can get a glimpse into the upcoming financial products that will be launched based on Linkedin’s job openings, and that includes insurance,wealth management,prepaid cards, and as well as credit services revolving around repayment loans and revolving credits. And in Sep 2021, SeaMoney also launched its digital bank app in Indonesia.RisksThe slowdown in Garena’s growth rateAs Garena’s growth starts to taper down, it is important for us to track whether the PUR and ARPPU are increasing over time as these tell us whether they are improving their monetization capabilities.However, we do not expect growth to decline drastically due to the highly engaging nature of the game, and as well as new ideas in the pipeline.Shopee aggressive expansion into new marketsShopee entry into new markets and the competitive pressure may accelerate its cash burn rate and erode its profit margin over time. However, we believe the risk is mitigated for a few reasons — due to the hefty $11.2 billion cash on its balance sheet, cash cow of Garena, and not to mention, Shopee is also profitable on a GPM basis.Going forward, we should track Shopee’s website traffic,app rankings,google trends,social media followings to see if these investments are translating into results.ValuationTo calculate the intrinsic value of Sea Group, we will be using the sum-of-the-parts (“SOTP”) valuation model and some comparables.Source: Morningstar, OutlookIndiaGarena ValuationSource: Own EstimatesTo determine a reasonable multiple to assign to Garena, we cross-reference to other gaming peers such as Electronic Arts (NASDAQ:EA) and Activision Blizzard (NASDAQ:ATVI), which are trading at roughly 18x multiple. Considering that both companies are growing much faster, and growth rate in Q3’21, an implied multiple of 18x and a forward growth rate of 25% are reasonable. Therefore, Garena is worth approximately $63.83 billion.Shopee ValuationLooking at comparable transactions of Flipkart, Tokopedia, and Lazada, along with assessing the quality of each business, we think of a fair multiple of EV/GMV as 1x.Source: Own EstimatesWith an implied EV/GMV of 1x, and a forward 100% growth rate on Shopee’s last 12 months (“LTM”) GMV of $56 billion, Shopee is worth $112.6 billion.SeaMoney ValuationSource: Own EstimatesReferencing from matured peers such as Paypal (NASDAQ: PYPL) with an operating margin of 25% and take-rate of 2.3%, we think that these financial metrics are achievable for SeaMoney. With a forward growth rate of 100% based on Q3’21 results, considering that it is still in the early stages and yet to launch its digital bank, this gives us an implied EV/TPV of 0.3x.Source: Own EstimatesWith an implied EV/TPV of 0.3x, and a growth of 100% on the annualized TPV (based on Q3’21 TPV), SeaMoney is worth $11 billion.Entire BusinessSource: Own EstimatesAfter calculating the individual business segments, this gives us a market cap of $196.9 billion for the entire business, after accounting for cash and debt. With shares outstanding of 576 million, after factoring in 4% dilution, this gives us an intrinsic value of $341.33 per share, a 55.4% upside from the current share price.ConclusionShopee continues to extend its market leadership position by pursuing new growth opportunities in new markets. While Shopee seems to be fighting too many wars on its front, it has demonstrated that it has strong localization capabilities and the know-how to expand overseas as Shopee tops the shopping app across Latin America and Poland within a short span of 3 to 6 months. However, the incumbents are still leading by website traffic, and it is still early to judge whether Shopee could be a real threat to its rivals.Next, while Garena’s growth seems to be slowing down, we do not think its growth has reached its peak because of its strong growth exhibited in the US, paying user ratio of only 12.8%, and potential games in the pipelines. With the management track record of creating highly engaging content on FF, we believe it can be an enduring franchise for years to come, with growth likely not to taper down so quickly.The management is intentionally suppressing SeaMoney’s margins by ramping up the S&M efforts to drive more adoption to its mobile wallet business. However, they have demonstrated sales efficiency as S&M as % of revenue is declining YOY. With the digital bank set to launch in Singapore in FY2022, we believe SeaMoney is still in the early stages of growth.Finally, based on our estimation, we believe Sea Group is worth $341.33 per share. This is a 55.4% upside from the current share price.This article was written by Superstocks Seekers.","news_type":1},"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003480759,"gmtCreate":1641044642196,"gmtModify":1676533567466,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003480759","repostId":"2195453431","repostType":4,"repost":{"id":"2195453431","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":1640757621,"share":"https://ttm.financial/m/news/2195453431?lang=&edition=fundamental","pubTime":"2021-12-29 14:00","market":"hk","language":"en","title":"China's Didi Plans Hong Kong 'Listing by Introduction', Picks Banks -Sources","url":"https://stock-news.laohu8.com/highlight/detail?id=2195453431","media":"Reuters","summary":"* Listing by introduction doesn't involve raising capital\n* Didi aims to file for Hong Kong listing ","content":"<p>* Listing by introduction doesn't involve raising capital</p>\n<p>* Didi aims to file for Hong Kong listing by end-April - source</p>\n<p>* Didi picks Goldman, two Chinese banks for HK listing - sources</p>\n<p>HONG KONG, Dec 29 (Reuters) - China's ride-hailing giant Didi Global plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.</p>\n<p>The Hong Kong mechanism, known as 'listing by introduction', would allow owners of Didi U.S. shares to transfer them to the city's bourse gradually, said the people. They declined to be identified as the plan was not yet public.</p>\n<p>Didi aims to file for the Hong Kong listing by end-April and list by June, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the people said.</p>\n<p>The plans are being prepared six months after Didi, sometimes dubbed the Uber Technologies Inc of China, made its debut in New York after raising $4.4 billion in a conventional IPO.</p>\n<p>It said earlier this month that it plans to delist from the U.S. bourse and pursue a Hong Kong listing.</p>\n<p>A spokesperson for Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, did not immediately respond to Reuters request for comment.</p>\n<p>Unlike typical IPOs, companies listing stock by introduction in Hong Kong raise no capital and issue no new shares. The mechanism was popular among companies in the past looking to build a brand in Hong Kong and the rest of Greater China.</p>\n<p>Didi has picked Goldman Sachs , China Merchants Bank International (CMBI), and China Construction Bank International (CCBI) to manage the Hong Kong listing process, said the people.</p>\n<p>Goldman declined to comment, while CMBI, and CCBI did not immediately respond to request for comment.</p>\n<p>Reuters reported this month Didi planned to hire Goldman&nbsp;to work on the Hong Kong listing before embarking on the New York delisting. It had asked the bank to come up with proposals on how a Hong Kong listing and New York delisting would work.</p>\n<p>Goldman was one of the main underwriters of Didi's New York IPO, along with <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and JPMorgan .</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 Didi Plans Hong Kong 'Listing by Introduction', Picks Banks -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\">\nChina's Didi Plans Hong Kong 'Listing by Introduction', Picks Banks -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\">2021-12-29 14:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* Listing by introduction doesn't involve raising capital</p>\n<p>* Didi aims to file for Hong Kong listing by end-April - source</p>\n<p>* Didi picks Goldman, two Chinese banks for HK listing - sources</p>\n<p>HONG KONG, Dec 29 (Reuters) - China's ride-hailing giant Didi Global plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.</p>\n<p>The Hong Kong mechanism, known as 'listing by introduction', would allow owners of Didi U.S. shares to transfer them to the city's bourse gradually, said the people. They declined to be identified as the plan was not yet public.</p>\n<p>Didi aims to file for the Hong Kong listing by end-April and list by June, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the people said.</p>\n<p>The plans are being prepared six months after Didi, sometimes dubbed the Uber Technologies Inc of China, made its debut in New York after raising $4.4 billion in a conventional IPO.</p>\n<p>It said earlier this month that it plans to delist from the U.S. bourse and pursue a Hong Kong listing.</p>\n<p>A spokesperson for Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, did not immediately respond to Reuters request for comment.</p>\n<p>Unlike typical IPOs, companies listing stock by introduction in Hong Kong raise no capital and issue no new shares. The mechanism was popular among companies in the past looking to build a brand in Hong Kong and the rest of Greater China.</p>\n<p>Didi has picked Goldman Sachs , China Merchants Bank International (CMBI), and China Construction Bank International (CCBI) to manage the Hong Kong listing process, said the people.</p>\n<p>Goldman declined to comment, while CMBI, and CCBI did not immediately respond to request for comment.</p>\n<p>Reuters reported this month Didi planned to hire Goldman&nbsp;to work on the Hong Kong listing before embarking on the New York delisting. It had asked the bank to come up with proposals on how a Hong Kong listing and New York delisting would work.</p>\n<p>Goldman was one of the main underwriters of Didi's New York IPO, along with <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and JPMorgan .</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4503":"景林资产持仓","BK4536":"外卖概念","BK4551":"寇图资本持仓","BK4535":"淡马锡持仓","BK4550":"红杉资本持仓","BK4022":"陆运","BK4526":"热门中概股","BK4561":"索罗斯持仓","BK4505":"高瓴资本持仓","DIDI":"滴滴(已退市)","BK4539":"次新股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2195453431","content_text":"* Listing by introduction doesn't involve raising capital\n* Didi aims to file for Hong Kong listing by end-April - source\n* Didi picks Goldman, two Chinese banks for HK listing - sources\nHONG KONG, Dec 29 (Reuters) - China's ride-hailing giant Didi Global plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.\nThe Hong Kong mechanism, known as 'listing by introduction', would allow owners of Didi U.S. shares to transfer them to the city's bourse gradually, said the people. They declined to be identified as the plan was not yet public.\nDidi aims to file for the Hong Kong listing by end-April and list by June, one of the people said.\nThe plans are being prepared six months after Didi, sometimes dubbed the Uber Technologies Inc of China, made its debut in New York after raising $4.4 billion in a conventional IPO.\nIt said earlier this month that it plans to delist from the U.S. bourse and pursue a Hong Kong listing.\nA spokesperson for Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, did not immediately respond to Reuters request for comment.\nUnlike typical IPOs, companies listing stock by introduction in Hong Kong raise no capital and issue no new shares. The mechanism was popular among companies in the past looking to build a brand in Hong Kong and the rest of Greater China.\nDidi has picked Goldman Sachs , China Merchants Bank International (CMBI), and China Construction Bank International (CCBI) to manage the Hong Kong listing process, said the people.\nGoldman declined to comment, while CMBI, and CCBI did not immediately respond to request for comment.\nReuters reported this month Didi planned to hire Goldman to work on the Hong Kong listing before embarking on the New York delisting. It had asked the bank to come up with proposals on how a Hong Kong listing and New York delisting would work.\nGoldman was one of the main underwriters of Didi's New York IPO, along with Morgan Stanley and JPMorgan .","news_type":1},"isVote":1,"tweetType":1,"viewCount":757,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003480994,"gmtCreate":1641044504440,"gmtModify":1676533567450,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003480994","repostId":"1165872157","repostType":2,"repost":{"id":"1165872157","pubTimestamp":1640916426,"share":"https://ttm.financial/m/news/1165872157?lang=&edition=fundamental","pubTime":"2021-12-31 10:07","market":"us","language":"en","title":"Why Nio, EVgo, and XL Fleet Stocks Jumped Today","url":"https://stock-news.laohu8.com/highlight/detail?id=1165872157","media":"Motley Fool","summary":"What happenedOne day after the American depositary shares of Chinese EV maker Nio(NYSE:NIO)hit their","content":"<html><head></head><body><p>What happened</p><p>One day after the American depositary shares of Chinese EV maker <b>Nio</b>(NYSE:NIO)hit their lowest level in over a year, the shares are jumping today. And the stocks of EV-charging network company <b>EVgo</b>(NASDAQ:EVGO)and vehicle electrification company <b>XL Fleet</b>(NYSE:XL)are also on the rise. The stocks had moved as follows as today:</p><ul><li>Nio shares up 14.76%</li><li>EVgo shares up 9.08%</li><li>XL Fleet shares up 7.9%</li></ul><p>So what</p><p>The thing is, these stocks have very little in common, other than the glaring fact that they all are in the electric vehicle sector. And that tells the story of today&#39;s big moves. Though these businesses have not exactly been moving in the same direction, the stock prices have. They are all down significantly in 2021. XL Fleet shares have dropped 59% year to date, while EVgo and Nio stocks are down 37% and 35%, respectively. But the businesses aren&#39;t quite as synchronized. Nio&#39;s sales are growing quickly, and it announced some exciting plans for next year, including the introduction of its latest EV that it hopes will challenge the <b>Tesla</b> Model 3.</p><p>Nio told investors it expects to begin deliveries of the new ET5 in the fourth quarter of 2022.</p><p>Now what</p><p>Nio is clearly the largest of these stocks, and likely the closest to profitability. With today&#39;s move, Nio has a market capitalization of about $52 billion. Compare that to EVgo&#39;s valuation of $2.7 billion and XL Fleet at just over $500 million. There&#39;s a good reason for that, too.</p><p>In addition to Nio&#39;s new ET5 coming late next year, it will begin selling its new, larger luxury sedan in March 2022. And beyond the ET5 and larger ET7, Nio has said it plans a third new offering next year. That may come from a collaboration with the largest automotive company in China, but it has yet to be officially announced.</p><p>Nio is also continuing to move outside of China as it expands the growth it began in Europe in 2021. EVgo and XL Fleet also have plans to grow, but the results are coming much slower than with Nio. XL Fleet, for example, saw its third-quarter revenue nearly cut in half compared to the third quarter of 2020. XL Fleet converts internal combustion-powered vehicles to plug-in hybrid electric power. It also plans to have a fully electrical conversion solution soon. But as auto manufacturers have struggled to keep up with demand amid supply chain constraints this year, the company hasn&#39;t been able to drive the growth it had hoped for.</p><p>However, XL Fleet recently announced it has grown its relationship with utility-scale wind and solar power facilities operators for charging infrastructure to support the fleet vehicles it has already provided. It is also in a pilot program with the Department of Defense that it hopes could grow into a large opportunity.</p><p>So while Nio and EVgo are growing as EV demand and adoption grows, XL Fleet is struggling at this point. That partially explains the vast disparity in the valuations assigned by investors. But for today, they are all being lumped in the same boat as investors are pushing EV sector names higher moving into the final trading day of the year.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Nio, EVgo, and XL Fleet Stocks Jumped Today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Nio, EVgo, and XL Fleet Stocks Jumped Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-31 10:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/30/why-nio-evgo-and-xl-fleet-stocks-jumped-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happenedOne day after the American depositary shares of Chinese EV maker Nio(NYSE:NIO)hit their lowest level in over a year, the shares are jumping today. And the stocks of EV-charging network ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/30/why-nio-evgo-and-xl-fleet-stocks-jumped-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","EVGO":"EVgo Inc."},"source_url":"https://www.fool.com/investing/2021/12/30/why-nio-evgo-and-xl-fleet-stocks-jumped-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165872157","content_text":"What happenedOne day after the American depositary shares of Chinese EV maker Nio(NYSE:NIO)hit their lowest level in over a year, the shares are jumping today. And the stocks of EV-charging network company EVgo(NASDAQ:EVGO)and vehicle electrification company XL Fleet(NYSE:XL)are also on the rise. The stocks had moved as follows as today:Nio shares up 14.76%EVgo shares up 9.08%XL Fleet shares up 7.9%So whatThe thing is, these stocks have very little in common, other than the glaring fact that they all are in the electric vehicle sector. And that tells the story of today's big moves. Though these businesses have not exactly been moving in the same direction, the stock prices have. They are all down significantly in 2021. XL Fleet shares have dropped 59% year to date, while EVgo and Nio stocks are down 37% and 35%, respectively. But the businesses aren't quite as synchronized. Nio's sales are growing quickly, and it announced some exciting plans for next year, including the introduction of its latest EV that it hopes will challenge the Tesla Model 3.Nio told investors it expects to begin deliveries of the new ET5 in the fourth quarter of 2022.Now whatNio is clearly the largest of these stocks, and likely the closest to profitability. With today's move, Nio has a market capitalization of about $52 billion. Compare that to EVgo's valuation of $2.7 billion and XL Fleet at just over $500 million. There's a good reason for that, too.In addition to Nio's new ET5 coming late next year, it will begin selling its new, larger luxury sedan in March 2022. And beyond the ET5 and larger ET7, Nio has said it plans a third new offering next year. That may come from a collaboration with the largest automotive company in China, but it has yet to be officially announced.Nio is also continuing to move outside of China as it expands the growth it began in Europe in 2021. EVgo and XL Fleet also have plans to grow, but the results are coming much slower than with Nio. XL Fleet, for example, saw its third-quarter revenue nearly cut in half compared to the third quarter of 2020. XL Fleet converts internal combustion-powered vehicles to plug-in hybrid electric power. It also plans to have a fully electrical conversion solution soon. But as auto manufacturers have struggled to keep up with demand amid supply chain constraints this year, the company hasn't been able to drive the growth it had hoped for.However, XL Fleet recently announced it has grown its relationship with utility-scale wind and solar power facilities operators for charging infrastructure to support the fleet vehicles it has already provided. It is also in a pilot program with the Department of Defense that it hopes could grow into a large opportunity.So while Nio and EVgo are growing as EV demand and adoption grows, XL Fleet is struggling at this point. That partially explains the vast disparity in the valuations assigned by investors. But for today, they are all being lumped in the same boat as investors are pushing EV sector names higher moving into the final trading day of the year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1033,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003404047,"gmtCreate":1641030280611,"gmtModify":1676533566382,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Good sharing!","listText":"Good sharing!","text":"Good sharing!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003404047","repostId":"2195448557","repostType":4,"repost":{"id":"2195448557","pubTimestamp":1640964603,"share":"https://ttm.financial/m/news/2195448557?lang=&edition=fundamental","pubTime":"2021-12-31 23:30","market":"us","language":"en","title":"Could Apple's Market Cap Hit $4 Trillion in 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=2195448557","media":"Motley Fool","summary":"As the Street wonders when Apple can break through the $3 trillion mark, investors should look even further ahead: Is a $4 trillion market cap on the horizon?","content":"<html><head></head><body><p>Shares of technology giant <b>Apple</b> (NASDAQ:AAPL) soared in 2021. As of Dec. 30, the stock had gained 34% in 2021. This put the market cap at more than $2.9 trillion.</p><p>While many recent headlines about the company have focused on its market capitalization approaching $3 trillion, investors might be wise to consider an even more bullish target: $4 trillion. Indeed, a close look at the stock suggests that a $4 trillion market cap could be within reach for the tech company in the near future -- possibly even within 2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/759ce68147322ebcd7995f48e3873e6e\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/><span>Image source: Getty Images.</span></p><h2>The path to $4 trillion</h2><p>A close look at Apple stock&#39;s conservative valuation and the company&#39;s broad-based momentum makes a good case for shares being undervalued today, setting the stage for a potential $4 trillion market capitalization in 2022.</p><p>The first way Apple stock could gain is simply through expansion in its valuation multiple. Some megacap stocks trade at substantially higher multiples relative to their free cash flow (FCF) than Apple does. If Apple can close the gap and command a similar premium, multiple expansion alone could help the stock rise substantially.</p><p>Consider that <b>Microsoft</b> (NASDAQ:MSFT) trades at 42 times its free cash flow. Apple, meanwhile, trades at only 31 times its FCF. Apple&#39;s stock price would have to rise 35% for its FCF valuation multiple to match Microsoft&#39;s. This alone would put the company&#39;s market capitalization at about $4 trillion.</p><p>There is actually a good case for Apple stock&#39;s valuation to see multiple expansion in the coming years: The tech giant&#39;s services business, which is a more reliable revenue source than its products, is growing as a percentage of Apple&#39;s total business. With a more predictable and reliable revenue source (that appears to still have lots of upside) increasingly driving Apple&#39;s growth, investors may start rewarding the stock with higher valuation multiples. In fiscal 2021, Apple&#39;s services revenue was 19% of revenue, up from less than 18% of revenue two years ago and 15% three years ago.</p><p>But even without this much multiple expansion, strong fundamentals could lift Apple shares meaningfully in 2022 and beyond. Consider that the company is seeing strong double-digit revenue growth recently, with record fiscal fourth-quarter revenue across every geographic and product segment. Specifically, Apple&#39;s fiscal fourth-quarter revenue came in at $83.4 billion, up from $64.7 billion in the year-ago quarter. But management estimates that revenue for the period would have been $6 billion higher if it weren&#39;t for supply constraints during the period.</p><p>Suffice to say, Apple&#39;s business is firing on all cylinders. With momentum in every geographic and product segment, it wouldn&#39;t be surprising to see double-digit growth rates in the company&#39;s revenue and free cash flow in fiscal 2022, providing solid substance for more share gains.</p><h2>Expect a bumpy ride</h2><p>While it is possible that Apple&#39;s market capitalization swells to $4 trillion before the end of 2022, there are no guarantees in investing. Even if everything goes well for Apple as a business, the stock itself could do poorly in the near term. Sometimes, for one reason or another, stocks fall in and out of favor. So even though shares appear undervalued today, the stock could fall before it rises.</p><p>And there&#39;s always a chance that Apple sees multiple <i>compression</i> instead of multiple expansion. While Apple&#39;s business fundamentals appear worthy of a Microsoft-like premium, the company&#39;s shares have usually traded at a discount to Microsoft&#39;s in terms of valuation multiples because Microsoft&#39;s business model is considered to be more sustainable and less dependent on blockbuster product hits like new iPhones. Apple notably also makes more than half of its sales from a single product: the iPhone. Its heavy reliance on a single product segment generally makes Wall Street view the stock as risker than Microsoft, which has a business primarily made up of recurring revenue from various software and services sources.</p><p>But given Apple&#39;s long history of pricing power, loyal customers, and an ability to bring to market products in entirely new categories every now and then, the tech company will likely keep succeeding -- and its market cap could march toward $4 trillion.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Could Apple's Market Cap Hit $4 Trillion 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\">\nCould Apple's Market Cap Hit $4 Trillion in 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-31 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/31/could-apples-market-cap-hit-4-trillion-in-2022/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of technology giant Apple (NASDAQ:AAPL) soared in 2021. As of Dec. 30, the stock had gained 34% in 2021. This put the market cap at more than $2.9 trillion.While many recent headlines about the...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/31/could-apples-market-cap-hit-4-trillion-in-2022/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4097":"系统软件","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","MSFT":"微软","FCF":"第一联邦金融","BK4548":"巴美列捷福持仓","BK4170":"电脑硬件、储存设备及电脑周边","BK4516":"特朗普概念","BK4528":"SaaS概念","BK4515":"5G概念","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","AAPL":"苹果","BK4553":"喜马拉雅资本持仓","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4211":"区域性银行","BK4566":"资本集团","BK4525":"远程办公概念","BK4535":"淡马锡持仓","BK4559":"巴菲特持仓","BK4538":"云计算","BK4527":"明星科技股","BK4501":"段永平概念","BK4550":"红杉资本持仓","BK4503":"景林资产持仓"},"source_url":"https://www.fool.com/investing/2021/12/31/could-apples-market-cap-hit-4-trillion-in-2022/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2195448557","content_text":"Shares of technology giant Apple (NASDAQ:AAPL) soared in 2021. As of Dec. 30, the stock had gained 34% in 2021. This put the market cap at more than $2.9 trillion.While many recent headlines about the company have focused on its market capitalization approaching $3 trillion, investors might be wise to consider an even more bullish target: $4 trillion. Indeed, a close look at the stock suggests that a $4 trillion market cap could be within reach for the tech company in the near future -- possibly even within 2022.Image source: Getty Images.The path to $4 trillionA close look at Apple stock's conservative valuation and the company's broad-based momentum makes a good case for shares being undervalued today, setting the stage for a potential $4 trillion market capitalization in 2022.The first way Apple stock could gain is simply through expansion in its valuation multiple. Some megacap stocks trade at substantially higher multiples relative to their free cash flow (FCF) than Apple does. If Apple can close the gap and command a similar premium, multiple expansion alone could help the stock rise substantially.Consider that Microsoft (NASDAQ:MSFT) trades at 42 times its free cash flow. Apple, meanwhile, trades at only 31 times its FCF. Apple's stock price would have to rise 35% for its FCF valuation multiple to match Microsoft's. This alone would put the company's market capitalization at about $4 trillion.There is actually a good case for Apple stock's valuation to see multiple expansion in the coming years: The tech giant's services business, which is a more reliable revenue source than its products, is growing as a percentage of Apple's total business. With a more predictable and reliable revenue source (that appears to still have lots of upside) increasingly driving Apple's growth, investors may start rewarding the stock with higher valuation multiples. In fiscal 2021, Apple's services revenue was 19% of revenue, up from less than 18% of revenue two years ago and 15% three years ago.But even without this much multiple expansion, strong fundamentals could lift Apple shares meaningfully in 2022 and beyond. Consider that the company is seeing strong double-digit revenue growth recently, with record fiscal fourth-quarter revenue across every geographic and product segment. Specifically, Apple's fiscal fourth-quarter revenue came in at $83.4 billion, up from $64.7 billion in the year-ago quarter. But management estimates that revenue for the period would have been $6 billion higher if it weren't for supply constraints during the period.Suffice to say, Apple's business is firing on all cylinders. With momentum in every geographic and product segment, it wouldn't be surprising to see double-digit growth rates in the company's revenue and free cash flow in fiscal 2022, providing solid substance for more share gains.Expect a bumpy rideWhile it is possible that Apple's market capitalization swells to $4 trillion before the end of 2022, there are no guarantees in investing. Even if everything goes well for Apple as a business, the stock itself could do poorly in the near term. Sometimes, for one reason or another, stocks fall in and out of favor. So even though shares appear undervalued today, the stock could fall before it rises.And there's always a chance that Apple sees multiple compression instead of multiple expansion. While Apple's business fundamentals appear worthy of a Microsoft-like premium, the company's shares have usually traded at a discount to Microsoft's in terms of valuation multiples because Microsoft's business model is considered to be more sustainable and less dependent on blockbuster product hits like new iPhones. Apple notably also makes more than half of its sales from a single product: the iPhone. Its heavy reliance on a single product segment generally makes Wall Street view the stock as risker than Microsoft, which has a business primarily made up of recurring revenue from various software and services sources.But given Apple's long history of pricing power, loyal customers, and an ability to bring to market products in entirely new categories every now and then, the tech company will likely keep succeeding -- and its market cap could march toward $4 trillion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003971683,"gmtCreate":1640865497582,"gmtModify":1676533549067,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Wow first it will drop but quickly it goes to the moon again!!!!","listText":"Wow first it will drop but quickly it goes to the moon again!!!!","text":"Wow first it will drop but quickly it goes to the moon again!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003971683","repostId":"1141716709","repostType":2,"repost":{"id":"1141716709","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":1640864228,"share":"https://ttm.financial/m/news/1141716709?lang=&edition=fundamental","pubTime":"2021-12-30 19:37","market":"us","language":"en","title":"Tesla Recalls Over 475k Vehicles for Camera, Latch Issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1141716709","media":"Tiger Newspress","summary":"Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 47","content":"<html><head></head><body><p>Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 475,000 vehicles.</p><p><img src=\"https://static.tigerbbs.com/3acd6a90c5563e5b0720756c55d94748\" tg-width=\"840\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>Elon Musk’s company will recall 356,309 US vehicles related to the rearview camera cable harness that may be damaged by the opening and closing of the trunk lid. This could impact the rearview camera image from displaying. Ultimately, this can raise the risk of a crash, according to the NHTSA.</p><p>In a report dated December 21, NTHSA said that Tesla is also recalling 119,009 2014-21 Model S EV units due to the issues related to the front trunk latch assembly that are misaligned. This then prevents the secondary hood latch from engaging.</p><p>In November, Tesla stock price fell after the company recalled almost 12,000 EVs due to a software issue.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Recalls Over 475k Vehicles for Camera, Latch Issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Recalls Over 475k Vehicles for Camera, Latch Issues\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\">2021-12-30 19:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 475,000 vehicles.</p><p><img src=\"https://static.tigerbbs.com/3acd6a90c5563e5b0720756c55d94748\" tg-width=\"840\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>Elon Musk’s company will recall 356,309 US vehicles related to the rearview camera cable harness that may be damaged by the opening and closing of the trunk lid. This could impact the rearview camera image from displaying. Ultimately, this can raise the risk of a crash, according to the NHTSA.</p><p>In a report dated December 21, NTHSA said that Tesla is also recalling 119,009 2014-21 Model S EV units due to the issues related to the front trunk latch assembly that are misaligned. This then prevents the secondary hood latch from engaging.</p><p>In November, Tesla stock price fell after the company recalled almost 12,000 EVs due to a software issue.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141716709","content_text":"Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 475,000 vehicles.Elon Musk’s company will recall 356,309 US vehicles related to the rearview camera cable harness that may be damaged by the opening and closing of the trunk lid. This could impact the rearview camera image from displaying. Ultimately, this can raise the risk of a crash, according to the NHTSA.In a report dated December 21, NTHSA said that Tesla is also recalling 119,009 2014-21 Model S EV units due to the issues related to the front trunk latch assembly that are misaligned. This then prevents the secondary hood latch from engaging.In November, Tesla stock price fell after the company recalled almost 12,000 EVs due to a software issue.","news_type":1},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009734142,"gmtCreate":1640790640115,"gmtModify":1676533541924,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Especially this BABA!!! &nbsp;It is the most serious one… keep going down despite its fundamentals are strong. What is happening ?","listText":"Especially this BABA!!! &nbsp;It is the most serious one… keep going down despite its fundamentals are strong. What is happening ?","text":"Especially this BABA!!! It is the most serious one… keep going down despite its fundamentals are strong. What is happening ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009734142","repostId":"1136328785","repostType":4,"repost":{"id":"1136328785","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":1640790254,"share":"https://ttm.financial/m/news/1136328785?lang=&edition=fundamental","pubTime":"2021-12-29 23:04","market":"us","language":"en","title":"Hot Chinese ADRs Dipped in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1136328785","media":"Tiger Newspress","summary":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","content":"<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot Chinese ADRs Dipped in 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\">\nHot Chinese ADRs Dipped 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\">2021-12-29 23:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JD":"京东","EDU":"新东方","NTES":"网易","NIO":"蔚来","LI":"理想汽车","BABA":"阿里巴巴","PDD":"拼多多","DIDI":"滴滴(已退市)","RLX":"雾芯科技","GOTU":"高途","IQ":"爱奇艺","BIDU":"百度","XPEV":"小鹏汽车","BILI":"哔哩哔哩","TAL":"好未来","BEKE":"贝壳"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136328785","content_text":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009735525,"gmtCreate":1640790559126,"gmtModify":1676533541901,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"What is happening to these Chinese stocks ???? It keep going down when US stock are already bouncing back….","listText":"What is happening to these Chinese stocks ???? It keep going down when US stock are already bouncing back….","text":"What is happening to these Chinese stocks ???? It keep going down when US stock are already bouncing back….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009735525","repostId":"1136328785","repostType":4,"repost":{"id":"1136328785","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":1640790254,"share":"https://ttm.financial/m/news/1136328785?lang=&edition=fundamental","pubTime":"2021-12-29 23:04","market":"us","language":"en","title":"Hot Chinese ADRs Dipped in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1136328785","media":"Tiger Newspress","summary":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","content":"<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot Chinese ADRs Dipped in 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\">\nHot Chinese ADRs Dipped 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\">2021-12-29 23:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JD":"京东","EDU":"新东方","NTES":"网易","NIO":"蔚来","LI":"理想汽车","BABA":"阿里巴巴","PDD":"拼多多","DIDI":"滴滴(已退市)","RLX":"雾芯科技","GOTU":"高途","IQ":"爱奇艺","BIDU":"百度","XPEV":"小鹏汽车","BILI":"哔哩哔哩","TAL":"好未来","BEKE":"贝壳"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136328785","content_text":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009443695,"gmtCreate":1640775479338,"gmtModify":1676533540686,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Great sharing !","listText":"Great sharing !","text":"Great sharing !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009443695","repostId":"2195445974","repostType":2,"repost":{"id":"2195445974","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":1640769938,"share":"https://ttm.financial/m/news/2195445974?lang=&edition=fundamental","pubTime":"2021-12-29 17:25","market":"sh","language":"en","title":"EXPLAINER-The 'VIE' structure helping Chinese firms float abroad","url":"https://stock-news.laohu8.com/highlight/detail?id=2195445974","media":"Reuters","summary":"By Scott Murdoch and Kane Wu   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commiss","content":"<html><body><p>By Scott Murdoch and Kane Wu</p><p>   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commission (CSRC) said last Friday </p><p>that companies operating with a so-called variable interest entity <a href=\"https://laohu8.com/S/VIE\">$(VIE)$</a> structure seeking to list abroad will need approval from the watchdog before the deal goes ahead.</p><p>   Companies will be required to register their plans with the regulator to ensure they comply with Chinese laws. Bankers and lawyers said the new rules were likely to ease the regulatory uncertainty </p><p>that have roiled financial markets in 2021 and stalled offshore listings.</p><p>    HOW DOES STRUCTURE WORK?</p><p>   Under this structure, a Chinese company sets up an offshore entity for overseas listing purposes that allows foreign investors to buy into the stock.</p><p>   The arrangement was designed to help skirt Chinese rules </p><p>restricting foreign investment in a number of sensitive industries such as media and telecommunications.</p><p>   Most offshore-listed Chinese tech firms, including Alibaba Group    and JD.com   , use this structure, which gives them more flexibility to raise capital, while also bypassing the scrutiny and lengthy IPO vetting process that companies incorporated in China have to go through.</p><p>   \"This structure is designed for companies in industries where China will issue an operating license only to local Chinese companies such as the internet, education, data centers and media industry,\" Jefferies analysts wrote earlier this year.</p><p>   HOW WILL NEW RULES WORK?</p><p>   There has largely been no regulatory framework in China for listings of VIE-structured companies until now.</p><p>   The CSRC's new draft rules published last week will include VIE-structured companies in its proposed filing mechanism for offshore listings, removing uncertainty whether such companies would be banned from offshore listings entirely.</p><p>   The deals will require effective regulatory approval which CSRC said could take up to 20 working days if adequate materials were submitted. Authorities have not yet said when the new rules will take effect.</p><p>   China's government can order a company to dispose of its assets or businesses if its offshore listing jeopardizes national security, under the proposed new rules.</p><p>   In its announcement, the CSRC said Chinese regulators respected the choices made by companies on listing locations and that the rules would not be retroactively applied - which means companies currently listed abroad will not be affected. </p><p> (Reporting by Scott Murdoch and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Pravin Char)</p><p>((Scott.Murdoch@thomsonreuters.com;))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EXPLAINER-The 'VIE' structure helping Chinese firms float abroad</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\">\nEXPLAINER-The 'VIE' structure helping Chinese firms float abroad\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\">2021-12-29 17:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>By Scott Murdoch and Kane Wu</p><p>   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commission (CSRC) said last Friday </p><p>that companies operating with a so-called variable interest entity <a href=\"https://laohu8.com/S/VIE\">$(VIE)$</a> structure seeking to list abroad will need approval from the watchdog before the deal goes ahead.</p><p>   Companies will be required to register their plans with the regulator to ensure they comply with Chinese laws. Bankers and lawyers said the new rules were likely to ease the regulatory uncertainty </p><p>that have roiled financial markets in 2021 and stalled offshore listings.</p><p>    HOW DOES STRUCTURE WORK?</p><p>   Under this structure, a Chinese company sets up an offshore entity for overseas listing purposes that allows foreign investors to buy into the stock.</p><p>   The arrangement was designed to help skirt Chinese rules </p><p>restricting foreign investment in a number of sensitive industries such as media and telecommunications.</p><p>   Most offshore-listed Chinese tech firms, including Alibaba Group    and JD.com   , use this structure, which gives them more flexibility to raise capital, while also bypassing the scrutiny and lengthy IPO vetting process that companies incorporated in China have to go through.</p><p>   \"This structure is designed for companies in industries where China will issue an operating license only to local Chinese companies such as the internet, education, data centers and media industry,\" Jefferies analysts wrote earlier this year.</p><p>   HOW WILL NEW RULES WORK?</p><p>   There has largely been no regulatory framework in China for listings of VIE-structured companies until now.</p><p>   The CSRC's new draft rules published last week will include VIE-structured companies in its proposed filing mechanism for offshore listings, removing uncertainty whether such companies would be banned from offshore listings entirely.</p><p>   The deals will require effective regulatory approval which CSRC said could take up to 20 working days if adequate materials were submitted. Authorities have not yet said when the new rules will take effect.</p><p>   China's government can order a company to dispose of its assets or businesses if its offshore listing jeopardizes national security, under the proposed new rules.</p><p>   In its announcement, the CSRC said Chinese regulators respected the choices made by companies on listing locations and that the rules would not be retroactively applied - which means companies currently listed abroad will not be affected. </p><p> (Reporting by Scott Murdoch and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Pravin Char)</p><p>((Scott.Murdoch@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09618":"京东集团-SW","BK1502":"双十一","BK1517":"云办公","BK1608":"元宇宙概念","BK1584":"蚂蚁金服概念","VIE":"Viela Bio","BK1521":"挪威政府全球养老基金持仓","BK1575":"同股不同权","BK1588":"回港中概股","BK1142":"互联网与直销零售","BK1591":"就地过年概念","09988":"阿里巴巴-W","BK1586":"云计算"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2195445974","content_text":"By Scott Murdoch and Kane Wu   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commission (CSRC) said last Friday that companies operating with a so-called variable interest entity $(VIE)$ structure seeking to list abroad will need approval from the watchdog before the deal goes ahead.   Companies will be required to register their plans with the regulator to ensure they comply with Chinese laws. Bankers and lawyers said the new rules were likely to ease the regulatory uncertainty that have roiled financial markets in 2021 and stalled offshore listings.    HOW DOES STRUCTURE WORK?   Under this structure, a Chinese company sets up an offshore entity for overseas listing purposes that allows foreign investors to buy into the stock.   The arrangement was designed to help skirt Chinese rules restricting foreign investment in a number of sensitive industries such as media and telecommunications.   Most offshore-listed Chinese tech firms, including Alibaba Group    and JD.com   , use this structure, which gives them more flexibility to raise capital, while also bypassing the scrutiny and lengthy IPO vetting process that companies incorporated in China have to go through.   \"This structure is designed for companies in industries where China will issue an operating license only to local Chinese companies such as the internet, education, data centers and media industry,\" Jefferies analysts wrote earlier this year.   HOW WILL NEW RULES WORK?   There has largely been no regulatory framework in China for listings of VIE-structured companies until now.   The CSRC's new draft rules published last week will include VIE-structured companies in its proposed filing mechanism for offshore listings, removing uncertainty whether such companies would be banned from offshore listings entirely.   The deals will require effective regulatory approval which CSRC said could take up to 20 working days if adequate materials were submitted. Authorities have not yet said when the new rules will take effect.   China's government can order a company to dispose of its assets or businesses if its offshore listing jeopardizes national security, under the proposed new rules.   In its announcement, the CSRC said Chinese regulators respected the choices made by companies on listing locations and that the rules would not be retroactively applied - which means companies currently listed abroad will not be affected.  (Reporting by Scott Murdoch and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Pravin Char)((Scott.Murdoch@thomsonreuters.com;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":281,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009457439,"gmtCreate":1640774270298,"gmtModify":1676533540616,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Long BABA for long term !","listText":"Long BABA for long term !","text":"Long BABA for long term !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009457439","repostId":"1153790911","repostType":2,"repost":{"id":"1153790911","pubTimestamp":1640663709,"share":"https://ttm.financial/m/news/1153790911?lang=&edition=fundamental","pubTime":"2021-12-28 11:55","market":"us","language":"en","title":"What do the Fundamentals Predict for Alibaba Group Holding Ltd - ADR (BABA) Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=1153790911","media":"Investors Observer","summary":"Alibaba Group Holding Ltd - ADR (BABA) receives a strong valuation score of 87 from InvestorsObserve","content":"<p>Alibaba Group Holding Ltd - ADR (BABA) receives a strong&nbsp;valuation&nbsp;score of 87 from&nbsp;<i>InvestorsObserver</i>&nbsp;analysis. Our proprietary scoring system considers the overall health of the company by looking at the stock's price, earnings, and growth rate to determine if it represents a good value. BABA holds a better value than 87% of stocks at its current price. Investors who are focused on long-term growth through buy-and-hold investing will find the Valuation Rank especially relevant when allocating their assets.</p><p>Metrics Analysis</p><p>BABA has a trailing twelve month Price to Earnings (PE) ratio of 17.1. The historical average of roughly 15 shows a average value for BABA stock as investors are paying fair share prices relative to the company's earnings. BABA's average trailing PE ratio shows that the firm has been trading around its fair market value recently. Its trailing 12-month earnings per share (EPS) of 8.41 justifies the stock's current price. However, trailing PE ratios do not factor in the company's projected growth rate, resulting in many newer firms having high PE ratios due to high growth potential enticing investors despite inadequate earnings. BABA currently has a 12-month-forward-PE-to-Growth (PEG) ratio of 1.21. The market is currently overvaluing BABA in relation to its projected growth due to the PEG ratio being above the fair market value of 1. BABA's PEG comes from its forward price to earnings ratio being divided by its growth rate. Because PEG ratios include more fundamentals of a company's overall health with additional focus on the future, they are one of the most used valuation metrics by analysts.</p><p>Summary</p><p>All together these valuation metrics paint a pretty poor picture for BABA at its current price due to a overvalued PEG ratio despite strong growth. The PE and PEG for BABA are worse than the average of the market resulting in a valuation score of 87.</p>","source":"lsy1636522267329","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 do the Fundamentals Predict for Alibaba Group Holding Ltd - ADR (BABA) Stock?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat do the Fundamentals Predict for Alibaba Group Holding Ltd - ADR (BABA) Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-28 11:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investorsobserver.com/news/stock-update/what-do-the-fundamentals-predict-for-alibaba-group-holding-ltd-adr-baba-stock-5><strong>Investors Observer</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba Group Holding Ltd - ADR (BABA) receives a strong valuation score of 87 from InvestorsObserver analysis. Our proprietary scoring system considers the overall health of the company by looking at...</p>\n\n<a href=\"https://www.investorsobserver.com/news/stock-update/what-do-the-fundamentals-predict-for-alibaba-group-holding-ltd-adr-baba-stock-5\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://www.investorsobserver.com/news/stock-update/what-do-the-fundamentals-predict-for-alibaba-group-holding-ltd-adr-baba-stock-5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153790911","content_text":"Alibaba Group Holding Ltd - ADR (BABA) receives a strong valuation score of 87 from InvestorsObserver analysis. Our proprietary scoring system considers the overall health of the company by looking at the stock's price, earnings, and growth rate to determine if it represents a good value. BABA holds a better value than 87% of stocks at its current price. Investors who are focused on long-term growth through buy-and-hold investing will find the Valuation Rank especially relevant when allocating their assets.Metrics AnalysisBABA has a trailing twelve month Price to Earnings (PE) ratio of 17.1. The historical average of roughly 15 shows a average value for BABA stock as investors are paying fair share prices relative to the company's earnings. BABA's average trailing PE ratio shows that the firm has been trading around its fair market value recently. Its trailing 12-month earnings per share (EPS) of 8.41 justifies the stock's current price. However, trailing PE ratios do not factor in the company's projected growth rate, resulting in many newer firms having high PE ratios due to high growth potential enticing investors despite inadequate earnings. BABA currently has a 12-month-forward-PE-to-Growth (PEG) ratio of 1.21. The market is currently overvaluing BABA in relation to its projected growth due to the PEG ratio being above the fair market value of 1. BABA's PEG comes from its forward price to earnings ratio being divided by its growth rate. Because PEG ratios include more fundamentals of a company's overall health with additional focus on the future, they are one of the most used valuation metrics by analysts.SummaryAll together these valuation metrics paint a pretty poor picture for BABA at its current price due to a overvalued PEG ratio despite strong growth. The PE and PEG for BABA are worse than the average of the market resulting in a valuation score of 87.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9001740527,"gmtCreate":1641337366640,"gmtModify":1676533598767,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Did Charlie Munker buy on the dips again ?","listText":"Did Charlie Munker buy on the dips again ?","text":"Did Charlie Munker buy on the dips again ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001740527","repostId":"2201728876","repostType":2,"repost":{"id":"2201728876","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":1641335426,"share":"https://ttm.financial/m/news/2201728876?lang=&edition=fundamental","pubTime":"2022-01-05 06:30","market":"us","language":"en","title":"Charlie Munger's Daily Journal nearly doubles stake in China's Alibaba","url":"https://stock-news.laohu8.com/highlight/detail?id=2201728876","media":"Reuters","summary":"Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett'","content":"<html><head></head><body><p>Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett&#39;s longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.</p><p>The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.</p><p>Munger, 98, has long been bullish on China.</p><p>Alibaba&#39;s U.S.-listed shares had in 2021 lost more than 48% of their value.</p><p>On Tuesday, the shares pared losses and closed down 0.7% at $119.56.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Charlie Munger's Daily Journal nearly doubles stake in China's Alibaba</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\">\nCharlie Munger's Daily Journal nearly doubles stake in China's Alibaba\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-05 06:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett&#39;s longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.</p><p>The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.</p><p>Munger, 98, has long been bullish on China.</p><p>Alibaba&#39;s U.S.-listed shares had in 2021 lost more than 48% of their value.</p><p>On Tuesday, the shares pared losses and closed down 0.7% at $119.56.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","BK4111":"出版","09988":"阿里巴巴-W"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201728876","content_text":"Jan 4 (Reuters) - Daily Journal Corp, the publishing and technology company in which Warren Buffett's longtime business partner Charlie Munger is chairman, said it has nearly doubled its stake in Chinese e-commerce giant Alibaba Group Holding.The U.S. company raised its holding by 99.3% to 602,060 sponsored American Depository Shares as of Dec. 31, Daily Journal said in a regulatory filing on Tuesday, making the stake worth about $72 million as of Jan. 4.Munger, 98, has long been bullish on China.Alibaba's U.S.-listed shares had in 2021 lost more than 48% of their value.On Tuesday, the shares pared losses and closed down 0.7% at $119.56.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001403987,"gmtCreate":1641291931904,"gmtModify":1676533593632,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001403987","repostId":"1124443897","repostType":4,"repost":{"id":"1124443897","pubTimestamp":1641289590,"share":"https://ttm.financial/m/news/1124443897?lang=&edition=fundamental","pubTime":"2022-01-04 17:46","market":"us","language":"en","title":"Cathie Wood Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead","url":"https://stock-news.laohu8.com/highlight/detail?id=1124443897","media":"Benzinga","summary":"Cathie Wood’sArk Investment Management on Monday sold more shares in Tesla Inc(NASDAQ:TSLA), startin","content":"<html><head></head><body><p><b>Cathie Wood</b>’s<b>Ark Investment Management</b> on Monday sold more shares in <b>Tesla Inc</b>(NASDAQ:TSLA), starting the new year with more profit booking in the electric vehicle stock as it jumped higher after reporting fourth-quarter delivery volumes that far surpassed expectations.</p><p>The popular asset management firm sold 39,262 shares — estimated to be worth $47 million — in Tesla.</p><p>The <b>Elon Musk</b>-led company’s stock soared 13.5% on Monday to close at $1,199.8 a share. The stock rose about 50% in 2021.</p><p>Wood’s firm has exposure in Tesla via three of its exchange-traded funds — the <b>Ark Innovation ETF</b>(NYSE:ARKK), the <b>Ark Autonomous Technology &amp; Robotics ETF</b>(NYSE:ARKQ) and the <b>Ark Next Generation Internet ETF</b>(NYSE:ARKW).</p><p>The three ETFs held about 1.75 million shares worth $1.84 billion in Tesla, prior to Monday’s trade.</p><p>Tesla on Sunday smashed fourth-quarter delivery records, posting its biggest quarterly and full-year delivery volume.</p><p>A Tesla super-bull, Wood has long favored the Musk-led company and set a $3,000 price target for the electric vehicle stock for 2025.</p><p>The St. Petersburg, Florida-based Ark has recently also begun buying shares in the U.S.-listed Chinese electric vehicle maker <b>Xpeng Inc</b>(NYSE:XPEV).</p><p>Here are some other key Ark Invest trades from Monday:</p><ul><li>Bought 442,456 shares — estimated to be worth $8.2 million — in <b>Palantir Technologies Inc</b>(NYSE:PLTR). Shares of the Peter Thiel-founded data company closed 1.8% higher at $18.5 a share.</li><li>Sold 359,577 shares — estimated to be worth $15.3 million — in <b>Twitter Inc</b>(NYSE:TWTR). The micro-blogging company’s stock closed 1.3% lower at $42.7 a share.</li><li>Bought 345,771 shares — estimated to be worth $6.4 million — in <b>Robinhood</b> <b>Markets Inc</b>(NASDAQ:HOOD). Shares of the commission-free trading app that deals in stocks, exchange-traded funds and cryptocurrencies closed 3.8% higher at $18.4 a share.</li></ul></body></html>","source":"lsy1606299360108","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 Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead</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 Continues Booking Profit In Tesla As Stock Shoots Up, Loads Up On These 2 Stocks Instead\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-04 17:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/trading-ideas/long-ideas/22/01/24873551/cathie-wood-continues-booking-profit-in-tesla-as-stock-shoots-up-loads-up-on-these-2-sto><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cathie Wood’sArk Investment Management on Monday sold more shares in Tesla Inc(NASDAQ:TSLA), starting the new year with more profit booking in the electric vehicle stock as it jumped higher after ...</p>\n\n<a href=\"https://www.benzinga.com/trading-ideas/long-ideas/22/01/24873551/cathie-wood-continues-booking-profit-in-tesla-as-stock-shoots-up-loads-up-on-these-2-sto\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","PLTR":"Palantir Technologies Inc.","HOOD":"Robinhood","TWTR":"Twitter"},"source_url":"https://www.benzinga.com/trading-ideas/long-ideas/22/01/24873551/cathie-wood-continues-booking-profit-in-tesla-as-stock-shoots-up-loads-up-on-these-2-sto","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1124443897","content_text":"Cathie Wood’sArk Investment Management on Monday sold more shares in Tesla Inc(NASDAQ:TSLA), starting the new year with more profit booking in the electric vehicle stock as it jumped higher after reporting fourth-quarter delivery volumes that far surpassed expectations.The popular asset management firm sold 39,262 shares — estimated to be worth $47 million — in Tesla.The Elon Musk-led company’s stock soared 13.5% on Monday to close at $1,199.8 a share. The stock rose about 50% in 2021.Wood’s firm has exposure in Tesla via three of its exchange-traded funds — the Ark Innovation ETF(NYSE:ARKK), the Ark Autonomous Technology & Robotics ETF(NYSE:ARKQ) and the Ark Next Generation Internet ETF(NYSE:ARKW).The three ETFs held about 1.75 million shares worth $1.84 billion in Tesla, prior to Monday’s trade.Tesla on Sunday smashed fourth-quarter delivery records, posting its biggest quarterly and full-year delivery volume.A Tesla super-bull, Wood has long favored the Musk-led company and set a $3,000 price target for the electric vehicle stock for 2025.The St. Petersburg, Florida-based Ark has recently also begun buying shares in the U.S.-listed Chinese electric vehicle maker Xpeng Inc(NYSE:XPEV).Here are some other key Ark Invest trades from Monday:Bought 442,456 shares — estimated to be worth $8.2 million — in Palantir Technologies Inc(NYSE:PLTR). Shares of the Peter Thiel-founded data company closed 1.8% higher at $18.5 a share.Sold 359,577 shares — estimated to be worth $15.3 million — in Twitter Inc(NYSE:TWTR). The micro-blogging company’s stock closed 1.3% lower at $42.7 a share.Bought 345,771 shares — estimated to be worth $6.4 million — in Robinhood Markets Inc(NASDAQ:HOOD). Shares of the commission-free trading app that deals in stocks, exchange-traded funds and cryptocurrencies closed 3.8% higher at $18.4 a share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009734142,"gmtCreate":1640790640115,"gmtModify":1676533541924,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Especially this BABA!!! &nbsp;It is the most serious one… keep going down despite its fundamentals are strong. What is happening ?","listText":"Especially this BABA!!! &nbsp;It is the most serious one… keep going down despite its fundamentals are strong. What is happening ?","text":"Especially this BABA!!! It is the most serious one… keep going down despite its fundamentals are strong. What is happening ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009734142","repostId":"1136328785","repostType":4,"repost":{"id":"1136328785","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":1640790254,"share":"https://ttm.financial/m/news/1136328785?lang=&edition=fundamental","pubTime":"2021-12-29 23:04","market":"us","language":"en","title":"Hot Chinese ADRs Dipped in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1136328785","media":"Tiger Newspress","summary":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","content":"<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot Chinese ADRs Dipped in 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\">\nHot Chinese ADRs Dipped 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\">2021-12-29 23:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JD":"京东","EDU":"新东方","NTES":"网易","NIO":"蔚来","LI":"理想汽车","BABA":"阿里巴巴","PDD":"拼多多","DIDI":"滴滴(已退市)","RLX":"雾芯科技","GOTU":"高途","IQ":"爱奇艺","BIDU":"百度","XPEV":"小鹏汽车","BILI":"哔哩哔哩","TAL":"好未来","BEKE":"贝壳"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136328785","content_text":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9096118427,"gmtCreate":1644328644502,"gmtModify":1676533913055,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9096118427","repostId":"1187970199","repostType":4,"repost":{"id":"1187970199","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":1644244867,"share":"https://ttm.financial/m/news/1187970199?lang=&edition=fundamental","pubTime":"2022-02-07 22:41","market":"us","language":"en","title":"Hot Chinese ADRs Gained in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1187970199","media":"Tiger Newspress","summary":"JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.","content":"<html><head></head><body><p>JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.<img src=\"https://static.tigerbbs.com/53b3ca4d437b7b3f0033b6f488cab646\" tg-width=\"382\" tg-height=\"642\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot Chinese ADRs Gained in 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\">\nHot Chinese ADRs Gained 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\">2022-02-07 22:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.<img src=\"https://static.tigerbbs.com/53b3ca4d437b7b3f0033b6f488cab646\" tg-width=\"382\" tg-height=\"642\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技","PDD":"拼多多","DIDI":"滴滴(已退市)"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187970199","content_text":"JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":772,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9008851525,"gmtCreate":1641425163713,"gmtModify":1676533612813,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"😀","listText":"😀","text":"😀","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9008851525","repostId":"2201255535","repostType":4,"repost":{"id":"2201255535","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":1641423313,"share":"https://ttm.financial/m/news/2201255535?lang=&edition=fundamental","pubTime":"2022-01-06 06:55","market":"us","language":"en","title":"Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes","url":"https://stock-news.laohu8.com/highlight/detail?id=2201255535","media":"Reuters","summary":"* S&P 500 posts biggest daily pct fall since Nov. 26* Fed minutes show officials said labor market \"very tight\"* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%NEW YORK, Jan 5 (Reuters) - ","content":"<html><head></head><body><p>* S&amp;P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market &#34;very tight&#34;</p><p>* Indexes: Dow down 1.1%, S&amp;P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&amp;P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&amp;P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&amp;P sectors ending in the red, and Wall Street&#39;s fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed&#39;s Dec. 14-15 policy meeting, central bank policymakers said a &#34;very tight&#34; job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>&#34;Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,&#34; said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes &#34;more hawkish than expected.&#34;</p><p>The S&amp;P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&amp;P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&amp;P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed&#39;s benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department&#39;s more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-06 06:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* S&amp;P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market &#34;very tight&#34;</p><p>* Indexes: Dow down 1.1%, S&amp;P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&amp;P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&amp;P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&amp;P sectors ending in the red, and Wall Street&#39;s fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed&#39;s Dec. 14-15 policy meeting, central bank policymakers said a &#34;very tight&#34; job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>&#34;Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,&#34; said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes &#34;more hawkish than expected.&#34;</p><p>The S&amp;P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&amp;P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&amp;P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed&#39;s benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department&#39;s more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&amp;P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","BK4504":"桥水持仓",".SPX":"S&P 500 Index","SPY":"标普500ETF","BK4534":"瑞士信贷持仓","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201255535","content_text":"* S&P 500 posts biggest daily pct fall since Nov. 26* Fed minutes show officials said labor market \"very tight\"* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a \"very tight\" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.\"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes \"more hawkish than expected.\"The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.Growth shares have been under pressure from a recent rise in U.S. Treasury yields.The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":706,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9002852239,"gmtCreate":1641973088647,"gmtModify":1676533667941,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Going&nbsp;to the moon !!!! $200 soon!","listText":"Going&nbsp;to the moon !!!! $200 soon!","text":"Going to the moon !!!! $200 soon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9002852239","repostId":"1151213799","repostType":4,"repost":{"id":"1151213799","pubTimestamp":1641953313,"share":"https://ttm.financial/m/news/1151213799?lang=&edition=fundamental","pubTime":"2022-01-12 10:08","market":"us","language":"en","title":"What Charlie Munger Sees in Alibaba to Make Him Buy More","url":"https://stock-news.laohu8.com/highlight/detail?id=1151213799","media":"InvestorPlace","summary":"Recently a number of reports emerged, including a Jan. 5 article inBarron’smagazine, that Charlie Mu","content":"<html><head></head><body><p>Recently a number of reports emerged, including a Jan. 5 article in<i>Barron’s</i>magazine, that Charlie Munger has“doubled down”into shares of <b>Alibaba</b> <b>Group Holding</b>(NYSE:<b><u>BABA</u></b>). In the past, I have written why BABA stock looks cheap. But I wanted to write about why he might see Alibaba as a worthwhile investment to buy more shares.</p><p>Charlie Munger is 98 years old and is the Vice Chairman of <b>Berkshire Hathaway</b>(NYSE:<b><u>BRK.A</u></b>, NYSE:<b><u>BRK.B</u></b>). He has worked with Warren Buffett for a long time.</p><p>But Munger also runs his own public company, <b>Daily Journal Corporation</b>(NASDAQ:<b><u>DJCO</u></b>). Munger has been buying more BABA shares for the securities portfolio of DJCO.</p><p>The Stock Has Been Falling</p><p>People love it when they can identify a particular stock that either Buffett or Munger seems to focus on, especially when they increase their position. That is what is going on with BABA stock, especially since it has been falling.</p><p>For example, in the past three months, Alibaba basically peaked in late Oct. 2020 and has been sliding ever since then. It hit $317.14 per ADR (American Depository Receipt) on Oct. 27, 2020, and also had an interim peak of $217.83 on Feb. 17, 2021.</p><p>However, by Jan. 10, 2022, it was down to $127.65. It even had a trough price of $112.09 on Dec. 29, 2021. This means that the stock is now down almost 60% from its peak in Oct. 2020. From its mini-peak of $217.82 in early Feb. 2021, BABA stock is still down just over 41% at $127.65.</p><p>But for some reason, this hasn’t deterred Charlie Munger as Chairman of DJCO. His company is still buying more BABA stock.</p><p>Munger Loves Alibaba</p><p>A recent filing by DJCO showed that it ended 2021 with 602,060 Alibaba ADRs. According to<i>Barron’s</i>magazine, this means it bought a net 300,000 ADRs during Q4 of the Chinese company. It had owned 302,060 Alibaba ADRs at Q3 end. Moreover, according to Barron’s, it had bought 136,740 more ADRs during Q3. So, in effect, DJCO has been averaging down in its cost.</p><p>Moreover, Daily Journal didn’t make changes in other investments during Q4. So, it’s clear that Munger et al really like Alibaba stock, even though it has been falling.</p><p>What could be the reason for this? Well, as Munger is known as a long-term value buyer, BABA shares trade at a historical low in terms of its valuation metrics.</p><p>BABA Stock Is Cheap Historically</p><p>For example, right now analysts estimate that the company will earn $8.39 in earnings per share (EPS) in 2022 and $9.51 for 2023. These estimates are from Refinitiv’s analyst surveys, as shown on the<i>Yahoo! Finance</i>analysis page.</p><p>S0, at Jan. 10’s price, BABA stock is at 15.2 times 2022 earnings (i.e., $127.65/$8.39) and 13.4 times (i.e., $127.65/9.51). This is a cheap valuation situation on an absolute basis.</p><p>But on a historical basis, these metrics are also cheap relative to past P/E ratios. For example, <i>Morningstar</i> shows that the average forward P/E for the past 5 years has been 25.7 times. That is well over the 15x and 13x.</p><p>In fact, even if you average the past 4 years, including 2021 when Alibaba was cheap all year, the average forward P/E ratio is 18.6x. This implies that even this year’s 15.2 times metric is too cheap. The potential upside is 22.3% (i.e., 18.6/15.2-1). Compared to 2023 forward earnings, the stock is 38.8% too cheap (i.e., 18.6/13.4 – 1).</p><p>What to Do With BABA Stock</p><p>The stock is cheap for a reason. There is a lot of fear out there that all Chinese stocks will get delisted. In fact,<i>Barron’</i> magazine has written that investors should <i>not</i> buy BABA stock.</p><p>My attitude about this is very simple. There are always good reasons for a stock to be cheap. If the company is not going out of business, has lots of free cash flow and little debt, which is the case here, there is usually not too much to worry about. Even the delisting issue is not much of an issue, since it would likely trade on a foreign exchange. That should never deter you from buying a stock that is cheap.</p><p>So my take is that, if you can afford to copy Munger, you will probably do well in the long term.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What Charlie Munger Sees in Alibaba to Make Him Buy More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat Charlie Munger Sees in Alibaba to Make Him Buy More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-12 10:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/01/this-is-what-charlie-munger-sees-in-baba-stock-after-a-double-down/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Recently a number of reports emerged, including a Jan. 5 article inBarron’smagazine, that Charlie Munger has“doubled down”into shares of Alibaba Group Holding(NYSE:BABA). In the past, I have written ...</p>\n\n<a href=\"https://investorplace.com/2022/01/this-is-what-charlie-munger-sees-in-baba-stock-after-a-double-down/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"source_url":"https://investorplace.com/2022/01/this-is-what-charlie-munger-sees-in-baba-stock-after-a-double-down/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151213799","content_text":"Recently a number of reports emerged, including a Jan. 5 article inBarron’smagazine, that Charlie Munger has“doubled down”into shares of Alibaba Group Holding(NYSE:BABA). In the past, I have written why BABA stock looks cheap. But I wanted to write about why he might see Alibaba as a worthwhile investment to buy more shares.Charlie Munger is 98 years old and is the Vice Chairman of Berkshire Hathaway(NYSE:BRK.A, NYSE:BRK.B). He has worked with Warren Buffett for a long time.But Munger also runs his own public company, Daily Journal Corporation(NASDAQ:DJCO). Munger has been buying more BABA shares for the securities portfolio of DJCO.The Stock Has Been FallingPeople love it when they can identify a particular stock that either Buffett or Munger seems to focus on, especially when they increase their position. That is what is going on with BABA stock, especially since it has been falling.For example, in the past three months, Alibaba basically peaked in late Oct. 2020 and has been sliding ever since then. It hit $317.14 per ADR (American Depository Receipt) on Oct. 27, 2020, and also had an interim peak of $217.83 on Feb. 17, 2021.However, by Jan. 10, 2022, it was down to $127.65. It even had a trough price of $112.09 on Dec. 29, 2021. This means that the stock is now down almost 60% from its peak in Oct. 2020. From its mini-peak of $217.82 in early Feb. 2021, BABA stock is still down just over 41% at $127.65.But for some reason, this hasn’t deterred Charlie Munger as Chairman of DJCO. His company is still buying more BABA stock.Munger Loves AlibabaA recent filing by DJCO showed that it ended 2021 with 602,060 Alibaba ADRs. According toBarron’smagazine, this means it bought a net 300,000 ADRs during Q4 of the Chinese company. It had owned 302,060 Alibaba ADRs at Q3 end. Moreover, according to Barron’s, it had bought 136,740 more ADRs during Q3. So, in effect, DJCO has been averaging down in its cost.Moreover, Daily Journal didn’t make changes in other investments during Q4. So, it’s clear that Munger et al really like Alibaba stock, even though it has been falling.What could be the reason for this? Well, as Munger is known as a long-term value buyer, BABA shares trade at a historical low in terms of its valuation metrics.BABA Stock Is Cheap HistoricallyFor example, right now analysts estimate that the company will earn $8.39 in earnings per share (EPS) in 2022 and $9.51 for 2023. These estimates are from Refinitiv’s analyst surveys, as shown on theYahoo! Financeanalysis page.S0, at Jan. 10’s price, BABA stock is at 15.2 times 2022 earnings (i.e., $127.65/$8.39) and 13.4 times (i.e., $127.65/9.51). This is a cheap valuation situation on an absolute basis.But on a historical basis, these metrics are also cheap relative to past P/E ratios. For example, Morningstar shows that the average forward P/E for the past 5 years has been 25.7 times. That is well over the 15x and 13x.In fact, even if you average the past 4 years, including 2021 when Alibaba was cheap all year, the average forward P/E ratio is 18.6x. This implies that even this year’s 15.2 times metric is too cheap. The potential upside is 22.3% (i.e., 18.6/15.2-1). Compared to 2023 forward earnings, the stock is 38.8% too cheap (i.e., 18.6/13.4 – 1).What to Do With BABA StockThe stock is cheap for a reason. There is a lot of fear out there that all Chinese stocks will get delisted. In fact,Barron’ magazine has written that investors should not buy BABA stock.My attitude about this is very simple. There are always good reasons for a stock to be cheap. If the company is not going out of business, has lots of free cash flow and little debt, which is the case here, there is usually not too much to worry about. Even the delisting issue is not much of an issue, since it would likely trade on a foreign exchange. That should never deter you from buying a stock that is cheap.So my take is that, if you can afford to copy Munger, you will probably do well in the long term.","news_type":1},"isVote":1,"tweetType":1,"viewCount":828,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003971683,"gmtCreate":1640865497582,"gmtModify":1676533549067,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Wow first it will drop but quickly it goes to the moon again!!!!","listText":"Wow first it will drop but quickly it goes to the moon again!!!!","text":"Wow first it will drop but quickly it goes to the moon again!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003971683","repostId":"1141716709","repostType":2,"repost":{"id":"1141716709","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":1640864228,"share":"https://ttm.financial/m/news/1141716709?lang=&edition=fundamental","pubTime":"2021-12-30 19:37","market":"us","language":"en","title":"Tesla Recalls Over 475k Vehicles for Camera, Latch Issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1141716709","media":"Tiger Newspress","summary":"Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 47","content":"<html><head></head><body><p>Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 475,000 vehicles.</p><p><img src=\"https://static.tigerbbs.com/3acd6a90c5563e5b0720756c55d94748\" tg-width=\"840\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>Elon Musk’s company will recall 356,309 US vehicles related to the rearview camera cable harness that may be damaged by the opening and closing of the trunk lid. This could impact the rearview camera image from displaying. Ultimately, this can raise the risk of a crash, according to the NHTSA.</p><p>In a report dated December 21, NTHSA said that Tesla is also recalling 119,009 2014-21 Model S EV units due to the issues related to the front trunk latch assembly that are misaligned. This then prevents the secondary hood latch from engaging.</p><p>In November, Tesla stock price fell after the company recalled almost 12,000 EVs due to a software issue.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Recalls Over 475k Vehicles for Camera, Latch Issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Recalls Over 475k Vehicles for Camera, Latch Issues\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\">2021-12-30 19:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 475,000 vehicles.</p><p><img src=\"https://static.tigerbbs.com/3acd6a90c5563e5b0720756c55d94748\" tg-width=\"840\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>Elon Musk’s company will recall 356,309 US vehicles related to the rearview camera cable harness that may be damaged by the opening and closing of the trunk lid. This could impact the rearview camera image from displaying. Ultimately, this can raise the risk of a crash, according to the NHTSA.</p><p>In a report dated December 21, NTHSA said that Tesla is also recalling 119,009 2014-21 Model S EV units due to the issues related to the front trunk latch assembly that are misaligned. This then prevents the secondary hood latch from engaging.</p><p>In November, Tesla stock price fell after the company recalled almost 12,000 EVs due to a software issue.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141716709","content_text":"Shares of Tesla are down about 1.5% in pre-open Thursday after the company filed a recall of over 475,000 vehicles.Elon Musk’s company will recall 356,309 US vehicles related to the rearview camera cable harness that may be damaged by the opening and closing of the trunk lid. This could impact the rearview camera image from displaying. Ultimately, this can raise the risk of a crash, according to the NHTSA.In a report dated December 21, NTHSA said that Tesla is also recalling 119,009 2014-21 Model S EV units due to the issues related to the front trunk latch assembly that are misaligned. This then prevents the secondary hood latch from engaging.In November, Tesla stock price fell after the company recalled almost 12,000 EVs due to a software issue.","news_type":1},"isVote":1,"tweetType":1,"viewCount":316,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009735525,"gmtCreate":1640790559126,"gmtModify":1676533541901,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"What is happening to these Chinese stocks ???? It keep going down when US stock are already bouncing back….","listText":"What is happening to these Chinese stocks ???? It keep going down when US stock are already bouncing back….","text":"What is happening to these Chinese stocks ???? It keep going down when US stock are already bouncing back….","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009735525","repostId":"1136328785","repostType":4,"repost":{"id":"1136328785","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":1640790254,"share":"https://ttm.financial/m/news/1136328785?lang=&edition=fundamental","pubTime":"2021-12-29 23:04","market":"us","language":"en","title":"Hot Chinese ADRs Dipped in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1136328785","media":"Tiger Newspress","summary":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","content":"<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot Chinese ADRs Dipped in 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\">\nHot Chinese ADRs Dipped 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\">2021-12-29 23:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.</p><p><img src=\"https://static.tigerbbs.com/c65ee7e3f4252f8b3afbb692fb871ca4\" tg-width=\"431\" tg-height=\"716\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/53189e33d2ae719ac2b191271c2534ef\" tg-width=\"416\" tg-height=\"533\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JD":"京东","EDU":"新东方","NTES":"网易","NIO":"蔚来","LI":"理想汽车","BABA":"阿里巴巴","PDD":"拼多多","DIDI":"滴滴(已退市)","RLX":"雾芯科技","GOTU":"高途","IQ":"爱奇艺","BIDU":"百度","XPEV":"小鹏汽车","BILI":"哔哩哔哩","TAL":"好未来","BEKE":"贝壳"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136328785","content_text":"Hot Chinese ADRs dipped in morning trading.Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI fell between 1% and 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003404047,"gmtCreate":1641030280611,"gmtModify":1676533566382,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Good sharing!","listText":"Good sharing!","text":"Good sharing!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003404047","repostId":"2195448557","repostType":4,"repost":{"id":"2195448557","pubTimestamp":1640964603,"share":"https://ttm.financial/m/news/2195448557?lang=&edition=fundamental","pubTime":"2021-12-31 23:30","market":"us","language":"en","title":"Could Apple's Market Cap Hit $4 Trillion in 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=2195448557","media":"Motley Fool","summary":"As the Street wonders when Apple can break through the $3 trillion mark, investors should look even further ahead: Is a $4 trillion market cap on the horizon?","content":"<html><head></head><body><p>Shares of technology giant <b>Apple</b> (NASDAQ:AAPL) soared in 2021. As of Dec. 30, the stock had gained 34% in 2021. This put the market cap at more than $2.9 trillion.</p><p>While many recent headlines about the company have focused on its market capitalization approaching $3 trillion, investors might be wise to consider an even more bullish target: $4 trillion. Indeed, a close look at the stock suggests that a $4 trillion market cap could be within reach for the tech company in the near future -- possibly even within 2022.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/759ce68147322ebcd7995f48e3873e6e\" tg-width=\"700\" tg-height=\"393\" referrerpolicy=\"no-referrer\"/><span>Image source: Getty Images.</span></p><h2>The path to $4 trillion</h2><p>A close look at Apple stock&#39;s conservative valuation and the company&#39;s broad-based momentum makes a good case for shares being undervalued today, setting the stage for a potential $4 trillion market capitalization in 2022.</p><p>The first way Apple stock could gain is simply through expansion in its valuation multiple. Some megacap stocks trade at substantially higher multiples relative to their free cash flow (FCF) than Apple does. If Apple can close the gap and command a similar premium, multiple expansion alone could help the stock rise substantially.</p><p>Consider that <b>Microsoft</b> (NASDAQ:MSFT) trades at 42 times its free cash flow. Apple, meanwhile, trades at only 31 times its FCF. Apple&#39;s stock price would have to rise 35% for its FCF valuation multiple to match Microsoft&#39;s. This alone would put the company&#39;s market capitalization at about $4 trillion.</p><p>There is actually a good case for Apple stock&#39;s valuation to see multiple expansion in the coming years: The tech giant&#39;s services business, which is a more reliable revenue source than its products, is growing as a percentage of Apple&#39;s total business. With a more predictable and reliable revenue source (that appears to still have lots of upside) increasingly driving Apple&#39;s growth, investors may start rewarding the stock with higher valuation multiples. In fiscal 2021, Apple&#39;s services revenue was 19% of revenue, up from less than 18% of revenue two years ago and 15% three years ago.</p><p>But even without this much multiple expansion, strong fundamentals could lift Apple shares meaningfully in 2022 and beyond. Consider that the company is seeing strong double-digit revenue growth recently, with record fiscal fourth-quarter revenue across every geographic and product segment. Specifically, Apple&#39;s fiscal fourth-quarter revenue came in at $83.4 billion, up from $64.7 billion in the year-ago quarter. But management estimates that revenue for the period would have been $6 billion higher if it weren&#39;t for supply constraints during the period.</p><p>Suffice to say, Apple&#39;s business is firing on all cylinders. With momentum in every geographic and product segment, it wouldn&#39;t be surprising to see double-digit growth rates in the company&#39;s revenue and free cash flow in fiscal 2022, providing solid substance for more share gains.</p><h2>Expect a bumpy ride</h2><p>While it is possible that Apple&#39;s market capitalization swells to $4 trillion before the end of 2022, there are no guarantees in investing. Even if everything goes well for Apple as a business, the stock itself could do poorly in the near term. Sometimes, for one reason or another, stocks fall in and out of favor. So even though shares appear undervalued today, the stock could fall before it rises.</p><p>And there&#39;s always a chance that Apple sees multiple <i>compression</i> instead of multiple expansion. While Apple&#39;s business fundamentals appear worthy of a Microsoft-like premium, the company&#39;s shares have usually traded at a discount to Microsoft&#39;s in terms of valuation multiples because Microsoft&#39;s business model is considered to be more sustainable and less dependent on blockbuster product hits like new iPhones. Apple notably also makes more than half of its sales from a single product: the iPhone. Its heavy reliance on a single product segment generally makes Wall Street view the stock as risker than Microsoft, which has a business primarily made up of recurring revenue from various software and services sources.</p><p>But given Apple&#39;s long history of pricing power, loyal customers, and an ability to bring to market products in entirely new categories every now and then, the tech company will likely keep succeeding -- and its market cap could march toward $4 trillion.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Could Apple's Market Cap Hit $4 Trillion 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\">\nCould Apple's Market Cap Hit $4 Trillion in 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-31 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/31/could-apples-market-cap-hit-4-trillion-in-2022/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of technology giant Apple (NASDAQ:AAPL) soared in 2021. As of Dec. 30, the stock had gained 34% in 2021. This put the market cap at more than $2.9 trillion.While many recent headlines about the...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/31/could-apples-market-cap-hit-4-trillion-in-2022/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4097":"系统软件","BK4505":"高瓴资本持仓","BK4504":"桥水持仓","MSFT":"微软","FCF":"第一联邦金融","BK4548":"巴美列捷福持仓","BK4170":"电脑硬件、储存设备及电脑周边","BK4516":"特朗普概念","BK4528":"SaaS概念","BK4515":"5G概念","BK4554":"元宇宙及AR概念","BK4532":"文艺复兴科技持仓","AAPL":"苹果","BK4553":"喜马拉雅资本持仓","BK4567":"ESG概念","BK4534":"瑞士信贷持仓","BK4507":"流媒体概念","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4211":"区域性银行","BK4566":"资本集团","BK4525":"远程办公概念","BK4535":"淡马锡持仓","BK4559":"巴菲特持仓","BK4538":"云计算","BK4527":"明星科技股","BK4501":"段永平概念","BK4550":"红杉资本持仓","BK4503":"景林资产持仓"},"source_url":"https://www.fool.com/investing/2021/12/31/could-apples-market-cap-hit-4-trillion-in-2022/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2195448557","content_text":"Shares of technology giant Apple (NASDAQ:AAPL) soared in 2021. As of Dec. 30, the stock had gained 34% in 2021. This put the market cap at more than $2.9 trillion.While many recent headlines about the company have focused on its market capitalization approaching $3 trillion, investors might be wise to consider an even more bullish target: $4 trillion. Indeed, a close look at the stock suggests that a $4 trillion market cap could be within reach for the tech company in the near future -- possibly even within 2022.Image source: Getty Images.The path to $4 trillionA close look at Apple stock's conservative valuation and the company's broad-based momentum makes a good case for shares being undervalued today, setting the stage for a potential $4 trillion market capitalization in 2022.The first way Apple stock could gain is simply through expansion in its valuation multiple. Some megacap stocks trade at substantially higher multiples relative to their free cash flow (FCF) than Apple does. If Apple can close the gap and command a similar premium, multiple expansion alone could help the stock rise substantially.Consider that Microsoft (NASDAQ:MSFT) trades at 42 times its free cash flow. Apple, meanwhile, trades at only 31 times its FCF. Apple's stock price would have to rise 35% for its FCF valuation multiple to match Microsoft's. This alone would put the company's market capitalization at about $4 trillion.There is actually a good case for Apple stock's valuation to see multiple expansion in the coming years: The tech giant's services business, which is a more reliable revenue source than its products, is growing as a percentage of Apple's total business. With a more predictable and reliable revenue source (that appears to still have lots of upside) increasingly driving Apple's growth, investors may start rewarding the stock with higher valuation multiples. In fiscal 2021, Apple's services revenue was 19% of revenue, up from less than 18% of revenue two years ago and 15% three years ago.But even without this much multiple expansion, strong fundamentals could lift Apple shares meaningfully in 2022 and beyond. Consider that the company is seeing strong double-digit revenue growth recently, with record fiscal fourth-quarter revenue across every geographic and product segment. Specifically, Apple's fiscal fourth-quarter revenue came in at $83.4 billion, up from $64.7 billion in the year-ago quarter. But management estimates that revenue for the period would have been $6 billion higher if it weren't for supply constraints during the period.Suffice to say, Apple's business is firing on all cylinders. With momentum in every geographic and product segment, it wouldn't be surprising to see double-digit growth rates in the company's revenue and free cash flow in fiscal 2022, providing solid substance for more share gains.Expect a bumpy rideWhile it is possible that Apple's market capitalization swells to $4 trillion before the end of 2022, there are no guarantees in investing. Even if everything goes well for Apple as a business, the stock itself could do poorly in the near term. Sometimes, for one reason or another, stocks fall in and out of favor. So even though shares appear undervalued today, the stock could fall before it rises.And there's always a chance that Apple sees multiple compression instead of multiple expansion. While Apple's business fundamentals appear worthy of a Microsoft-like premium, the company's shares have usually traded at a discount to Microsoft's in terms of valuation multiples because Microsoft's business model is considered to be more sustainable and less dependent on blockbuster product hits like new iPhones. Apple notably also makes more than half of its sales from a single product: the iPhone. Its heavy reliance on a single product segment generally makes Wall Street view the stock as risker than Microsoft, which has a business primarily made up of recurring revenue from various software and services sources.But given Apple's long history of pricing power, loyal customers, and an ability to bring to market products in entirely new categories every now and then, the tech company will likely keep succeeding -- and its market cap could march toward $4 trillion.","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009457439,"gmtCreate":1640774270298,"gmtModify":1676533540616,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Long BABA for long term !","listText":"Long BABA for long term !","text":"Long BABA for long term !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009457439","repostId":"1153790911","repostType":2,"repost":{"id":"1153790911","pubTimestamp":1640663709,"share":"https://ttm.financial/m/news/1153790911?lang=&edition=fundamental","pubTime":"2021-12-28 11:55","market":"us","language":"en","title":"What do the Fundamentals Predict for Alibaba Group Holding Ltd - ADR (BABA) Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=1153790911","media":"Investors Observer","summary":"Alibaba Group Holding Ltd - ADR (BABA) receives a strong valuation score of 87 from InvestorsObserve","content":"<p>Alibaba Group Holding Ltd - ADR (BABA) receives a strong&nbsp;valuation&nbsp;score of 87 from&nbsp;<i>InvestorsObserver</i>&nbsp;analysis. Our proprietary scoring system considers the overall health of the company by looking at the stock's price, earnings, and growth rate to determine if it represents a good value. BABA holds a better value than 87% of stocks at its current price. Investors who are focused on long-term growth through buy-and-hold investing will find the Valuation Rank especially relevant when allocating their assets.</p><p>Metrics Analysis</p><p>BABA has a trailing twelve month Price to Earnings (PE) ratio of 17.1. The historical average of roughly 15 shows a average value for BABA stock as investors are paying fair share prices relative to the company's earnings. BABA's average trailing PE ratio shows that the firm has been trading around its fair market value recently. Its trailing 12-month earnings per share (EPS) of 8.41 justifies the stock's current price. However, trailing PE ratios do not factor in the company's projected growth rate, resulting in many newer firms having high PE ratios due to high growth potential enticing investors despite inadequate earnings. BABA currently has a 12-month-forward-PE-to-Growth (PEG) ratio of 1.21. The market is currently overvaluing BABA in relation to its projected growth due to the PEG ratio being above the fair market value of 1. BABA's PEG comes from its forward price to earnings ratio being divided by its growth rate. Because PEG ratios include more fundamentals of a company's overall health with additional focus on the future, they are one of the most used valuation metrics by analysts.</p><p>Summary</p><p>All together these valuation metrics paint a pretty poor picture for BABA at its current price due to a overvalued PEG ratio despite strong growth. The PE and PEG for BABA are worse than the average of the market resulting in a valuation score of 87.</p>","source":"lsy1636522267329","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 do the Fundamentals Predict for Alibaba Group Holding Ltd - ADR (BABA) Stock?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat do the Fundamentals Predict for Alibaba Group Holding Ltd - ADR (BABA) Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-28 11:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investorsobserver.com/news/stock-update/what-do-the-fundamentals-predict-for-alibaba-group-holding-ltd-adr-baba-stock-5><strong>Investors Observer</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba Group Holding Ltd - ADR (BABA) receives a strong valuation score of 87 from InvestorsObserver analysis. Our proprietary scoring system considers the overall health of the company by looking at...</p>\n\n<a href=\"https://www.investorsobserver.com/news/stock-update/what-do-the-fundamentals-predict-for-alibaba-group-holding-ltd-adr-baba-stock-5\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://www.investorsobserver.com/news/stock-update/what-do-the-fundamentals-predict-for-alibaba-group-holding-ltd-adr-baba-stock-5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153790911","content_text":"Alibaba Group Holding Ltd - ADR (BABA) receives a strong valuation score of 87 from InvestorsObserver analysis. Our proprietary scoring system considers the overall health of the company by looking at the stock's price, earnings, and growth rate to determine if it represents a good value. BABA holds a better value than 87% of stocks at its current price. Investors who are focused on long-term growth through buy-and-hold investing will find the Valuation Rank especially relevant when allocating their assets.Metrics AnalysisBABA has a trailing twelve month Price to Earnings (PE) ratio of 17.1. The historical average of roughly 15 shows a average value for BABA stock as investors are paying fair share prices relative to the company's earnings. BABA's average trailing PE ratio shows that the firm has been trading around its fair market value recently. Its trailing 12-month earnings per share (EPS) of 8.41 justifies the stock's current price. However, trailing PE ratios do not factor in the company's projected growth rate, resulting in many newer firms having high PE ratios due to high growth potential enticing investors despite inadequate earnings. BABA currently has a 12-month-forward-PE-to-Growth (PEG) ratio of 1.21. The market is currently overvaluing BABA in relation to its projected growth due to the PEG ratio being above the fair market value of 1. BABA's PEG comes from its forward price to earnings ratio being divided by its growth rate. Because PEG ratios include more fundamentals of a company's overall health with additional focus on the future, they are one of the most used valuation metrics by analysts.SummaryAll together these valuation metrics paint a pretty poor picture for BABA at its current price due to a overvalued PEG ratio despite strong growth. The PE and PEG for BABA are worse than the average of the market resulting in a valuation score of 87.","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9054202996,"gmtCreate":1655389569515,"gmtModify":1676535628461,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍&nbsp;","listText":"👍&nbsp;","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054202996","repostId":"1187970199","repostType":4,"repost":{"id":"1187970199","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":1644244867,"share":"https://ttm.financial/m/news/1187970199?lang=&edition=fundamental","pubTime":"2022-02-07 22:41","market":"us","language":"en","title":"Hot Chinese ADRs Gained in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1187970199","media":"Tiger Newspress","summary":"JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.","content":"<html><head></head><body><p>JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.<img src=\"https://static.tigerbbs.com/53b3ca4d437b7b3f0033b6f488cab646\" tg-width=\"382\" tg-height=\"642\" width=\"100%\" height=\"auto\"/></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot Chinese ADRs Gained in 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\">\nHot Chinese ADRs Gained 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\">2022-02-07 22:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.<img src=\"https://static.tigerbbs.com/53b3ca4d437b7b3f0033b6f488cab646\" tg-width=\"382\" tg-height=\"642\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技","PDD":"拼多多","DIDI":"滴滴(已退市)"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187970199","content_text":"JD.com, RLX Technology, DiDi, Tencent Music, Bilibili climbed from 1% to 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":749,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9001189726,"gmtCreate":1641189636973,"gmtModify":1676533580969,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Good sharing&nbsp;","listText":"Good sharing&nbsp;","text":"Good sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9001189726","repostId":"1171608797","repostType":2,"repost":{"id":"1171608797","pubTimestamp":1641177163,"share":"https://ttm.financial/m/news/1171608797?lang=&edition=fundamental","pubTime":"2022-01-03 10:32","market":"us","language":"en","title":"Sea Limited: Engaging Wars On Multiple Fronts","url":"https://stock-news.laohu8.com/highlight/detail?id=1171608797","media":"Seeking Alpha","summary":"SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets ","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Shopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.</li><li>While Garena growth seems to be tapering down, we do not think its growth has peaked yet due to its strong monetization capabilities in the U.S and others.</li><li>SeaMoney is intentionally ramping up its sales and marketing efforts to drive more adoption to ShopeePay, and that is temporarily suppressing its margins.</li><li>Using a sum-of-parts valuation, the intrinsic value of the business is $341.33, a 55% upside from the current share price.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e67f7a326258558c1021793376f4c25\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"/><span>Wachiwit/iStock Editorial via Getty Images</span></p><p><b>Overview</b></p><p>Sea Limited is an internet platform company that consists of three main business segments – Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (digital financial services). Throughout the years, Sea Limited has been reinvesting aggressively into their business to capture market share rapidly and grow their user base in every region. Starting out from Singapore, they have since achieved a respectable presence in Southeast Asia, Taiwan, and most recently in Latin America. In this article, we will be unpacking Sea Limited Q3’21 results, as we share our thoughts on the quarter. Do also head to the previous article we have written for Sea Limited.</p><p><b>Garena</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/11f0e27a4acd7a2b1671fd01bf86d291\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>In Q3’21, Garena’s quarterly active users (“QAU”) grew 0.5% sequentially to 729 million, a slowdown in users growth due the law of large numbers. Bookings growth has also stagnated as a result. More users are increasingly transitioning into paying users as the paying user ratio (“PUR”) rose to 12.8%. Based on the low PUR, there is still a large opportunity to convert its existing user base into paying users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/614efda95d41b79b0ed25736f40cbec8\" tg-width=\"1056\" tg-height=\"652\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Next, Garena’s average revenue per paying user (“ARPPU”) continues to taper down to $12.88, and that is likely due to most users coming from India and Latin America with much lower spending power. We will not rule out the possibility that Garena may increase the pricing of its in-game items to increase its monetization. Over time, the two key metrics that we should be measuring closely are PUR and ARPPU, and both tell us whether Garena can improve its monetizing capabilities to sustain its growth rate.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac621fe91314553c8c3337633f7055c6\" tg-width=\"970\" tg-height=\"759\" referrerpolicy=\"no-referrer\"/><span>Source: Sensortower</span></p><p>What is impressive during the quarter is that Garena Free Fire (“FF”) revenue per download (“RPD”) heavily surpassed its rivals in the United States, even though it has a much smaller user base. And despite PUBG re-launching in India in Q2&#39;21, FF is still leading by the highest RPD, as well as app rankings, showing that it has better monetization capabilities than its peers. According to SensorTower, FF was also the top five most downloaded games worldwide for six consecutive quarters, and in Q3’21, it was ranked as top three. With the game nearing five years of operation, this removes any doubt that its growth has peaked, and it is well on its way to building an enduring franchise.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cb798c3496a01756720d7566f71ec6f\" tg-width=\"900\" tg-height=\"900\" referrerpolicy=\"no-referrer\"/><span>Source: Free Fire Twitter</span></p><p>Garena Free Fire Max, an enhanced version of the current FF game was also launched in the quarter. Interestingly, what caught our eye was the introduction of a new feature called “Craftland”, where FF offers a “platform” for users to unleash their creativity through creating their own maps and inviting their friends over to play. This helps to increase social interaction, engagements, and also the stickiness of the game. As of today, it has over 4.57 million downloads on Google Play Store and it has a high review of over 4 stars. If we head over to Youtube, there are plenty of videos related to “Craftland”, showing how well received it is by the FF community. Looking ahead, Garena seeks to introduce more content, features, modes, and gameplays to sustain its existing strong base of users.</p><p>On top of that, Garena’s strong global presence has also received accelerated interest from worldwide studios looking to partner up with them, and management states that they are working on new ideas in the pipeline.</p><p><b>Shopee</b></p><p><b>Expansion into other markets</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a9be6ee805f0031bdbda5f9091e2d818\" tg-width=\"748\" tg-height=\"556\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee India</span></p><p>Shopee has also expanded into multiple markets, including France,Poland,Spain,India, and also Argentina. If we head to the websites, there are a few common traits that we observed, and that is Shopee replicating its playbook by giving out free shipping, free commission (to sellers), cashback, and vouchers across its platform to entice users to use the platform and to spur the flywheel effect. This has proven to work in countries in SEA and Brazil, as evident from its market leadership.</p><p><b>Operating and Financial Metrics</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e705eacc3dc34accf3e60455b81f0112\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Shopee recorded a growth rate of 80% which saw its GMV reach US$16.8 billion. Recently, Alibaba (NYSE:BABA) has disclosed the LTM revenue of Lazada, which is US$21 billion, up 60% YOY. By comparison, Shopee LTM GMV grew 90% YOY to $US56 billion, heavily surpassing that of its rival.</p><p>There are also signs of improving monetization as the take-rate increased sequentially to 8.93% during the quarter. As Shopee scales larger over time, it has the ability to increase its take-rate without losing its sellers as it is able to bring higher sales volume to its sellers than any other platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f793d575a267fe3e4fe60299189f29e\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Based on the total addressable market (“TAM”) of US$260 billion GMV, Shopee is the clear market leader with 21% of the TAM, followed by Lazada&#39;s 8%. This shows how quickly Shopee has been gobbling up market share, making it an undisputed leader in the region.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/88f5af1de4543fd03fcebaa9de4c1e3c\" tg-width=\"1280\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/><span>Source: Google Trend</span></p><p>Data from Google Trend also shows that Shopee continues to lead ahead of Lazada and Tokopedia. Interestingly, Alibaba’s management has also laid out a goal to achieve a $US 100 billion GMV, although a timeline is not given. Alibaba is re-focusing its attention on the Southeast Asia market.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0411927ec3f53dbbbd0a669cae109dc7\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Shopee’s order volume grew 129% YOY, which is its ninth-consecutive quarter of triple-digit growth rate. By comparison, Lazada’s order growth rate was only 82%. This tells us that users are spending more on Shopee than Lazada, which is not surprising due to Shopee’s overwhelming consumers’ mindshare. To get an outlook into next quarter’s results, Shopee recorded 13 times more items sold on an average day in the first 2 hours of its 12.12 event promotion, revealing how successful the campaign was.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f5b0365bf05142d748d698ab1c3d0f1\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>The average order value (&#34;AOV&#34;) continues to decline to $9.88 in the quarter. In our view, this is not a cause for worry. In the newer markets that Shopee has expanded into, users tend to start with smaller purchases with lower AOV. Over time, as they established more trust with the platform, they will increasingly move towards purchasing higher-ticket items.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3be44b2dc1e75eaf3db57e1d823ecaa\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Turning to profitability, Shopee’s gross profit margin (“GPM”) was 26.72%, compared to 31.94% in Q2’21. This was largely due to the higher cost of revenue in the quarter, including higher logistic costs associated with order growth and value-added services such as inventory management and fulfillment services provided to customers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d06185d6b36d451ed2095fabbc052ba6\" tg-width=\"1280\" tg-height=\"790\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Sales and marketing expenses (“S&amp;M”) expenses increased 124% YOY to $689 million, as Shopee ramp up its S&amp;M efforts to capture more market share across its existing and new markets. As a result, S&amp;M expenses as a % of GMV continue to fluctuate at 4.10%. Considering that some of its operating markets are in the early stages, investments may increase if the management spots any clear opportunities.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8aaa58e08ff935169c615806c98eadca\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>As a result of the lower gross profit and higher S&amp;M expenses, Shopee’s adjusted loss per order fluctuates at a negative $0.40 in the quarter. This is notable considering Shopee entered many new countries with zero monetization, and took its profits from its matured markets to finance S&amp;M expenses in the newer markets.</p><p>This is supported by a statement by Chief Corporate Officer Wang in Q2 2021:</p><blockquote>In terms of positive EBITDA from Malaysia, again, we&#39;re very happy to report that Malaysia has become the second market to achieve positive EBITDA after Taiwan for our Shopee business. And of course, it is followed by the results of better monetization over time as well as improving operational efficiency over time. As we stressed before that the marketplace e-commerce model in terms of profitability is highly proven and with scale and strong market leadership and ability to deliver a clear and increasing value to our seller communities, we will be able to make a strong profit down the road. And this is basically generating value to our communities and, by that, will generate value to our shareholders as well.</blockquote><p><b>Battle with the Incumbents</b></p><p>While Shopee expands aggressively, it is also important to consider the competitive landscape across its markets, and that includes the incumbent Allegro, a 20-year-old well-established local e-commerce platform in Poland, and Mercado Libre, the biggest e-commerce platform across Latin America (“LATAM”), particularly in Brazil, Mexico, and Argentina.</p><p><b>Latin America</b></p><p>According to Similarweb, Shopee’s web traffic is increasing steadily across LATAM, which include Colombia,Mexico, and Brazil, although MELI is leading by a wide margin.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8e8ab3232fdc0a70c67186b0bae587c\" tg-width=\"552\" tg-height=\"556\" referrerpolicy=\"no-referrer\"/><span>Top shopping app in Colombia, Source: SensorTower</span></p><p>However, based on the app rankings on SensorTower, Shopee has surpassed and overtook MELI as the top shopping app across Mexico,Chile, Colombia, and Brazil. This was accomplished within a span of 6 months, excluding its operation in Brazil.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d50771a33f9bbe4451ae3b496eeed1db\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Instagram</span></p><p>Alternatively, we can also track their social media followers as this gives us a sense of Shopee’s brand awareness in the region. As of ending Dec 2021, it has more followers than Mercardo in Colombia and Brazil, with Chile and Mexico coming close.</p><p><b>Poland</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82d28504ed7a24520b23f28860b28fed\" tg-width=\"547\" tg-height=\"472\" referrerpolicy=\"no-referrer\"/><span>Figure - Shopee is the #1 shopping app in Poland, Source: Sensortower</span></p><p>Similarly in Poland, Shopee follows the same footprint whereby Allegro’s (WSE:ALE) web traffic leads by a mile, but it was overtaken by Shopee as the number one shopping app, and this was achieved within 3 months since Shopee was launched. In addition, Shopee and Allegro have 12.8k and 68k Instagram followers, respectively.</p><p>Although Allegro has over 10 million downloads on Google Play Store, this is insignificant considering that it is only a fraction of its total website visits of 222 million. This may suggest that there is lesser focus and emphasis on the mobile app.</p><p><b>Shopee Concluding Thoughts</b></p><p>It is not surprising to see this data surfaced because users in Poland and LATAM are more accustomed to shopping on the browser, and so there was much less emphasis on mobile. Therefore, Shopee leveraged its mobile-first approach, capitalizing on the opportunity and that has proven to be successful based on the data from third-party sources.</p><p>While investors seem to be concerned that Shopee is fighting too many wars on its front, including its expansion into India, Argentina, and France, the management has demonstrated that they are capable enough to execute given its strong localization capabilities. This long-term approach to sacrifice short-term profitability and pursue additional market share are also well-aligned to the shareholders.</p><p><b>Digital Finance - SeaMoney</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5d530155412cffe0c2f8eb8d2f56adb7\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>In Q3’21, SeaMoney’s total payment volume (“TPV”) grew 119% YOY to reach $4.6 billion, and this was mainly driven by the increase in customers’ adoption of ShopeePay. There are also improvements in monetization as take-rate increased to 2.9% from 0.7% in Q3’20, and as a result, revenue grew at a staggering rate of over 800% YOY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eefc6aab1a7fe29f20f51ef27681affa\" tg-width=\"946\" tg-height=\"604\" referrerpolicy=\"no-referrer\"/><span>Source: Own&#39;s Graph</span></p><p>During the earnings call, the management also talked about an inherent flywheel effect in SeaMoney, that as more merchants join ShopeePay, the number of use cases increases. This encourages consumers to use ShopeePay and thus drives further adoption. When the user base grows larger and larger, more merchants expressed their interest to get on board, accelerating the acquisition on both sides (merchants and consumers) of the business. Users also get additional benefits such as cashback and vouchers, which help to spur the network effect. Over time, customer acquisition costs (“CAC”) will also come down as more users join organically.</p><p>ShopeePay’s use cases include bill payments, contactless payment at offline retails, paying for taxi rides (i.e. partnership with Blue Bird Taxi in Indonesia), and many more.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17a8cd811e58a9ca86e248cb272f77e5\" tg-width=\"1280\" tg-height=\"787\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>S&amp;M expenses increased 65% YoY as SeaMoney drives more adoption to its mobile wallet business. However, S&amp;M expenses as a % of TPV have reduced to 4.26% from 5.64% a year ago, showing sales efficiency as lower marketing spending are translating into higher revenue growth. If we add back the S&amp;M expenses to its adjusted EBITDA, its normalized margin for this quarter is actually 27.8%. This shows that its margin is artificially depressed as the management is intentionally spending on S&amp;M to grow its market share.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/609d411ca867f1c02768681be73e44d6\" tg-width=\"1280\" tg-height=\"792\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>As of Q3’21, the number of quarterly paying users (“QPU”) reached 39.7 million, a 20% sequential growth from Q2’21. This existing user base is important as its digital bank is set to launch in 2022.</p><p>Diving deeper, we can get a glimpse into the upcoming financial products that will be launched based on Linkedin’s job openings, and that includes insurance,wealth management,prepaid cards, and as well as credit services revolving around repayment loans and revolving credits. And in Sep 2021, SeaMoney also launched its digital bank app in Indonesia.</p><p><b>Risks</b></p><p>The slowdown in Garena’s growth rate</p><ul><li><p>As Garena’s growth starts to taper down, it is important for us to track whether the PUR and ARPPU are increasing over time as these tell us whether they are improving their monetization capabilities.</p></li><li><p>However, we do not expect growth to decline drastically due to the highly engaging nature of the game, and as well as new ideas in the pipeline.</p></li></ul><p>Shopee aggressive expansion into new markets</p><ul><li><p>Shopee entry into new markets and the competitive pressure may accelerate its cash burn rate and erode its profit margin over time. However, we believe the risk is mitigated for a few reasons — due to the hefty $11.2 billion cash on its balance sheet, cash cow of Garena, and not to mention, Shopee is also profitable on a GPM basis.</p></li><li><p>Going forward, we should track Shopee’s website traffic,app rankings,google trends,social media followings to see if these investments are translating into results.</p></li></ul><p><b>Valuation</b></p><p>To calculate the intrinsic value of Sea Group, we will be using the sum-of-the-parts (“SOTP”) valuation model and some comparables.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e1008fe7564b4ddff7f3b72591d647e\" tg-width=\"1280\" tg-height=\"569\" referrerpolicy=\"no-referrer\"/><span>Source: Morningstar, OutlookIndia</span></p><p><b>Garena Valuation</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a02ef5f5a79b78be636a73b04be45e78\" tg-width=\"1280\" tg-height=\"137\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>To determine a reasonable multiple to assign to Garena, we cross-reference to other gaming peers such as Electronic Arts (NASDAQ:EA) and Activision Blizzard (NASDAQ:ATVI), which are trading at roughly 18x multiple. Considering that both companies are growing much faster, and growth rate in Q3’21, an implied multiple of 18x and a forward growth rate of 25% are reasonable. Therefore, Garena is worth approximately $63.83 billion.</p><p><b>Shopee Valuation</b></p><p>Looking at comparable transactions of Flipkart, Tokopedia, and Lazada, along with assessing the quality of each business, we think of a fair multiple of EV/GMV as 1x.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e90103e5677261fee18f312dd39b00\" tg-width=\"1280\" tg-height=\"129\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>With an implied EV/GMV of 1x, and a forward 100% growth rate on Shopee’s last 12 months (“LTM”) GMV of $56 billion, Shopee is worth $112.6 billion.</p><p><b>SeaMoney Valuation</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d5a874c9c714f6fda34c50a4354d107\" tg-width=\"423\" tg-height=\"535\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>Referencing from matured peers such as Paypal (NASDAQ: PYPL) with an operating margin of 25% and take-rate of 2.3%, we think that these financial metrics are achievable for SeaMoney. With a forward growth rate of 100% based on Q3’21 results, considering that it is still in the early stages and yet to launch its digital bank, this gives us an implied EV/TPV of 0.3x.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/08c8ea50bcca5f450ad3c27a79390bad\" tg-width=\"1280\" tg-height=\"129\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>With an implied EV/TPV of 0.3x, and a growth of 100% on the annualized TPV (based on Q3’21 TPV), SeaMoney is worth $11 billion.</p><p><b>Entire Business</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/340a2ecbea6bcb1460204dbe8aa82e58\" tg-width=\"1280\" tg-height=\"813\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>After calculating the individual business segments, this gives us a market cap of $196.9 billion for the entire business, after accounting for cash and debt. With shares outstanding of 576 million, after factoring in 4% dilution, this gives us an intrinsic value of $341.33 per share, a 55.4% upside from the current share price.</p><p><b>Conclusion</b></p><p>Shopee continues to extend its market leadership position by pursuing new growth opportunities in new markets. While Shopee seems to be fighting too many wars on its front, it has demonstrated that it has strong localization capabilities and the know-how to expand overseas as Shopee tops the shopping app across Latin America and Poland within a short span of 3 to 6 months. However, the incumbents are still leading by website traffic, and it is still early to judge whether Shopee could be a real threat to its rivals.</p><p>Next, while Garena’s growth seems to be slowing down, we do not think its growth has reached its peak because of its strong growth exhibited in the US, paying user ratio of only 12.8%, and potential games in the pipelines. With the management track record of creating highly engaging content on FF, we believe it can be an enduring franchise for years to come, with growth likely not to taper down so quickly.</p><p>The management is intentionally suppressing SeaMoney’s margins by ramping up the S&amp;M efforts to drive more adoption to its mobile wallet business. However, they have demonstrated sales efficiency as S&amp;M as % of revenue is declining YOY. With the digital bank set to launch in Singapore in FY2022, we believe SeaMoney is still in the early stages of growth.</p><p>Finally, based on our estimation, we believe Sea Group is worth $341.33 per share. This is a 55.4% upside from the current share price.</p><p>This article was written by Superstocks Seekers.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: Engaging Wars On Multiple Fronts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited: Engaging Wars On Multiple Fronts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-03 10:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.While Garena growth seems to be tapering down, we do not think its ...</p>\n\n<a href=\"https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171608797","content_text":"SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.While Garena growth seems to be tapering down, we do not think its growth has peaked yet due to its strong monetization capabilities in the U.S and others.SeaMoney is intentionally ramping up its sales and marketing efforts to drive more adoption to ShopeePay, and that is temporarily suppressing its margins.Using a sum-of-parts valuation, the intrinsic value of the business is $341.33, a 55% upside from the current share price.Wachiwit/iStock Editorial via Getty ImagesOverviewSea Limited is an internet platform company that consists of three main business segments – Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (digital financial services). Throughout the years, Sea Limited has been reinvesting aggressively into their business to capture market share rapidly and grow their user base in every region. Starting out from Singapore, they have since achieved a respectable presence in Southeast Asia, Taiwan, and most recently in Latin America. In this article, we will be unpacking Sea Limited Q3’21 results, as we share our thoughts on the quarter. Do also head to the previous article we have written for Sea Limited.GarenaSource: Sea Quarterly ReportIn Q3’21, Garena’s quarterly active users (“QAU”) grew 0.5% sequentially to 729 million, a slowdown in users growth due the law of large numbers. Bookings growth has also stagnated as a result. More users are increasingly transitioning into paying users as the paying user ratio (“PUR”) rose to 12.8%. Based on the low PUR, there is still a large opportunity to convert its existing user base into paying users.Source: Sea Quarterly ReportNext, Garena’s average revenue per paying user (“ARPPU”) continues to taper down to $12.88, and that is likely due to most users coming from India and Latin America with much lower spending power. We will not rule out the possibility that Garena may increase the pricing of its in-game items to increase its monetization. Over time, the two key metrics that we should be measuring closely are PUR and ARPPU, and both tell us whether Garena can improve its monetizing capabilities to sustain its growth rate.Source: SensortowerWhat is impressive during the quarter is that Garena Free Fire (“FF”) revenue per download (“RPD”) heavily surpassed its rivals in the United States, even though it has a much smaller user base. And despite PUBG re-launching in India in Q2'21, FF is still leading by the highest RPD, as well as app rankings, showing that it has better monetization capabilities than its peers. According to SensorTower, FF was also the top five most downloaded games worldwide for six consecutive quarters, and in Q3’21, it was ranked as top three. With the game nearing five years of operation, this removes any doubt that its growth has peaked, and it is well on its way to building an enduring franchise.Source: Free Fire TwitterGarena Free Fire Max, an enhanced version of the current FF game was also launched in the quarter. Interestingly, what caught our eye was the introduction of a new feature called “Craftland”, where FF offers a “platform” for users to unleash their creativity through creating their own maps and inviting their friends over to play. This helps to increase social interaction, engagements, and also the stickiness of the game. As of today, it has over 4.57 million downloads on Google Play Store and it has a high review of over 4 stars. If we head over to Youtube, there are plenty of videos related to “Craftland”, showing how well received it is by the FF community. Looking ahead, Garena seeks to introduce more content, features, modes, and gameplays to sustain its existing strong base of users.On top of that, Garena’s strong global presence has also received accelerated interest from worldwide studios looking to partner up with them, and management states that they are working on new ideas in the pipeline.ShopeeExpansion into other marketsSource: Shopee IndiaShopee has also expanded into multiple markets, including France,Poland,Spain,India, and also Argentina. If we head to the websites, there are a few common traits that we observed, and that is Shopee replicating its playbook by giving out free shipping, free commission (to sellers), cashback, and vouchers across its platform to entice users to use the platform and to spur the flywheel effect. This has proven to work in countries in SEA and Brazil, as evident from its market leadership.Operating and Financial MetricsSource: Sea Quarterly ReportShopee recorded a growth rate of 80% which saw its GMV reach US$16.8 billion. Recently, Alibaba (NYSE:BABA) has disclosed the LTM revenue of Lazada, which is US$21 billion, up 60% YOY. By comparison, Shopee LTM GMV grew 90% YOY to $US56 billion, heavily surpassing that of its rival.There are also signs of improving monetization as the take-rate increased sequentially to 8.93% during the quarter. As Shopee scales larger over time, it has the ability to increase its take-rate without losing its sellers as it is able to bring higher sales volume to its sellers than any other platform.Source: Sea Quarterly ReportBased on the total addressable market (“TAM”) of US$260 billion GMV, Shopee is the clear market leader with 21% of the TAM, followed by Lazada's 8%. This shows how quickly Shopee has been gobbling up market share, making it an undisputed leader in the region.Source: Google TrendData from Google Trend also shows that Shopee continues to lead ahead of Lazada and Tokopedia. Interestingly, Alibaba’s management has also laid out a goal to achieve a $US 100 billion GMV, although a timeline is not given. Alibaba is re-focusing its attention on the Southeast Asia market.Source: Sea Quarterly ReportShopee’s order volume grew 129% YOY, which is its ninth-consecutive quarter of triple-digit growth rate. By comparison, Lazada’s order growth rate was only 82%. This tells us that users are spending more on Shopee than Lazada, which is not surprising due to Shopee’s overwhelming consumers’ mindshare. To get an outlook into next quarter’s results, Shopee recorded 13 times more items sold on an average day in the first 2 hours of its 12.12 event promotion, revealing how successful the campaign was.Source: Sea Quarterly ReportThe average order value (\"AOV\") continues to decline to $9.88 in the quarter. In our view, this is not a cause for worry. In the newer markets that Shopee has expanded into, users tend to start with smaller purchases with lower AOV. Over time, as they established more trust with the platform, they will increasingly move towards purchasing higher-ticket items.Source: Sea Quarterly ReportTurning to profitability, Shopee’s gross profit margin (“GPM”) was 26.72%, compared to 31.94% in Q2’21. This was largely due to the higher cost of revenue in the quarter, including higher logistic costs associated with order growth and value-added services such as inventory management and fulfillment services provided to customers.Source: Sea Quarterly ReportSales and marketing expenses (“S&M”) expenses increased 124% YOY to $689 million, as Shopee ramp up its S&M efforts to capture more market share across its existing and new markets. As a result, S&M expenses as a % of GMV continue to fluctuate at 4.10%. Considering that some of its operating markets are in the early stages, investments may increase if the management spots any clear opportunities.Source: Sea Quarterly ReportAs a result of the lower gross profit and higher S&M expenses, Shopee’s adjusted loss per order fluctuates at a negative $0.40 in the quarter. This is notable considering Shopee entered many new countries with zero monetization, and took its profits from its matured markets to finance S&M expenses in the newer markets.This is supported by a statement by Chief Corporate Officer Wang in Q2 2021:In terms of positive EBITDA from Malaysia, again, we're very happy to report that Malaysia has become the second market to achieve positive EBITDA after Taiwan for our Shopee business. And of course, it is followed by the results of better monetization over time as well as improving operational efficiency over time. As we stressed before that the marketplace e-commerce model in terms of profitability is highly proven and with scale and strong market leadership and ability to deliver a clear and increasing value to our seller communities, we will be able to make a strong profit down the road. And this is basically generating value to our communities and, by that, will generate value to our shareholders as well.Battle with the IncumbentsWhile Shopee expands aggressively, it is also important to consider the competitive landscape across its markets, and that includes the incumbent Allegro, a 20-year-old well-established local e-commerce platform in Poland, and Mercado Libre, the biggest e-commerce platform across Latin America (“LATAM”), particularly in Brazil, Mexico, and Argentina.Latin AmericaAccording to Similarweb, Shopee’s web traffic is increasing steadily across LATAM, which include Colombia,Mexico, and Brazil, although MELI is leading by a wide margin.Top shopping app in Colombia, Source: SensorTowerHowever, based on the app rankings on SensorTower, Shopee has surpassed and overtook MELI as the top shopping app across Mexico,Chile, Colombia, and Brazil. This was accomplished within a span of 6 months, excluding its operation in Brazil.Source: InstagramAlternatively, we can also track their social media followers as this gives us a sense of Shopee’s brand awareness in the region. As of ending Dec 2021, it has more followers than Mercardo in Colombia and Brazil, with Chile and Mexico coming close.PolandFigure - Shopee is the #1 shopping app in Poland, Source: SensortowerSimilarly in Poland, Shopee follows the same footprint whereby Allegro’s (WSE:ALE) web traffic leads by a mile, but it was overtaken by Shopee as the number one shopping app, and this was achieved within 3 months since Shopee was launched. In addition, Shopee and Allegro have 12.8k and 68k Instagram followers, respectively.Although Allegro has over 10 million downloads on Google Play Store, this is insignificant considering that it is only a fraction of its total website visits of 222 million. This may suggest that there is lesser focus and emphasis on the mobile app.Shopee Concluding ThoughtsIt is not surprising to see this data surfaced because users in Poland and LATAM are more accustomed to shopping on the browser, and so there was much less emphasis on mobile. Therefore, Shopee leveraged its mobile-first approach, capitalizing on the opportunity and that has proven to be successful based on the data from third-party sources.While investors seem to be concerned that Shopee is fighting too many wars on its front, including its expansion into India, Argentina, and France, the management has demonstrated that they are capable enough to execute given its strong localization capabilities. This long-term approach to sacrifice short-term profitability and pursue additional market share are also well-aligned to the shareholders.Digital Finance - SeaMoneySource: Sea Quarterly ReportIn Q3’21, SeaMoney’s total payment volume (“TPV”) grew 119% YOY to reach $4.6 billion, and this was mainly driven by the increase in customers’ adoption of ShopeePay. There are also improvements in monetization as take-rate increased to 2.9% from 0.7% in Q3’20, and as a result, revenue grew at a staggering rate of over 800% YOY.Source: Own's GraphDuring the earnings call, the management also talked about an inherent flywheel effect in SeaMoney, that as more merchants join ShopeePay, the number of use cases increases. This encourages consumers to use ShopeePay and thus drives further adoption. When the user base grows larger and larger, more merchants expressed their interest to get on board, accelerating the acquisition on both sides (merchants and consumers) of the business. Users also get additional benefits such as cashback and vouchers, which help to spur the network effect. Over time, customer acquisition costs (“CAC”) will also come down as more users join organically.ShopeePay’s use cases include bill payments, contactless payment at offline retails, paying for taxi rides (i.e. partnership with Blue Bird Taxi in Indonesia), and many more.Source: Sea Quarterly ReportS&M expenses increased 65% YoY as SeaMoney drives more adoption to its mobile wallet business. However, S&M expenses as a % of TPV have reduced to 4.26% from 5.64% a year ago, showing sales efficiency as lower marketing spending are translating into higher revenue growth. If we add back the S&M expenses to its adjusted EBITDA, its normalized margin for this quarter is actually 27.8%. This shows that its margin is artificially depressed as the management is intentionally spending on S&M to grow its market share.Source: Sea Quarterly ReportAs of Q3’21, the number of quarterly paying users (“QPU”) reached 39.7 million, a 20% sequential growth from Q2’21. This existing user base is important as its digital bank is set to launch in 2022.Diving deeper, we can get a glimpse into the upcoming financial products that will be launched based on Linkedin’s job openings, and that includes insurance,wealth management,prepaid cards, and as well as credit services revolving around repayment loans and revolving credits. And in Sep 2021, SeaMoney also launched its digital bank app in Indonesia.RisksThe slowdown in Garena’s growth rateAs Garena’s growth starts to taper down, it is important for us to track whether the PUR and ARPPU are increasing over time as these tell us whether they are improving their monetization capabilities.However, we do not expect growth to decline drastically due to the highly engaging nature of the game, and as well as new ideas in the pipeline.Shopee aggressive expansion into new marketsShopee entry into new markets and the competitive pressure may accelerate its cash burn rate and erode its profit margin over time. However, we believe the risk is mitigated for a few reasons — due to the hefty $11.2 billion cash on its balance sheet, cash cow of Garena, and not to mention, Shopee is also profitable on a GPM basis.Going forward, we should track Shopee’s website traffic,app rankings,google trends,social media followings to see if these investments are translating into results.ValuationTo calculate the intrinsic value of Sea Group, we will be using the sum-of-the-parts (“SOTP”) valuation model and some comparables.Source: Morningstar, OutlookIndiaGarena ValuationSource: Own EstimatesTo determine a reasonable multiple to assign to Garena, we cross-reference to other gaming peers such as Electronic Arts (NASDAQ:EA) and Activision Blizzard (NASDAQ:ATVI), which are trading at roughly 18x multiple. Considering that both companies are growing much faster, and growth rate in Q3’21, an implied multiple of 18x and a forward growth rate of 25% are reasonable. Therefore, Garena is worth approximately $63.83 billion.Shopee ValuationLooking at comparable transactions of Flipkart, Tokopedia, and Lazada, along with assessing the quality of each business, we think of a fair multiple of EV/GMV as 1x.Source: Own EstimatesWith an implied EV/GMV of 1x, and a forward 100% growth rate on Shopee’s last 12 months (“LTM”) GMV of $56 billion, Shopee is worth $112.6 billion.SeaMoney ValuationSource: Own EstimatesReferencing from matured peers such as Paypal (NASDAQ: PYPL) with an operating margin of 25% and take-rate of 2.3%, we think that these financial metrics are achievable for SeaMoney. With a forward growth rate of 100% based on Q3’21 results, considering that it is still in the early stages and yet to launch its digital bank, this gives us an implied EV/TPV of 0.3x.Source: Own EstimatesWith an implied EV/TPV of 0.3x, and a growth of 100% on the annualized TPV (based on Q3’21 TPV), SeaMoney is worth $11 billion.Entire BusinessSource: Own EstimatesAfter calculating the individual business segments, this gives us a market cap of $196.9 billion for the entire business, after accounting for cash and debt. With shares outstanding of 576 million, after factoring in 4% dilution, this gives us an intrinsic value of $341.33 per share, a 55.4% upside from the current share price.ConclusionShopee continues to extend its market leadership position by pursuing new growth opportunities in new markets. While Shopee seems to be fighting too many wars on its front, it has demonstrated that it has strong localization capabilities and the know-how to expand overseas as Shopee tops the shopping app across Latin America and Poland within a short span of 3 to 6 months. However, the incumbents are still leading by website traffic, and it is still early to judge whether Shopee could be a real threat to its rivals.Next, while Garena’s growth seems to be slowing down, we do not think its growth has reached its peak because of its strong growth exhibited in the US, paying user ratio of only 12.8%, and potential games in the pipelines. With the management track record of creating highly engaging content on FF, we believe it can be an enduring franchise for years to come, with growth likely not to taper down so quickly.The management is intentionally suppressing SeaMoney’s margins by ramping up the S&M efforts to drive more adoption to its mobile wallet business. However, they have demonstrated sales efficiency as S&M as % of revenue is declining YOY. With the digital bank set to launch in Singapore in FY2022, we believe SeaMoney is still in the early stages of growth.Finally, based on our estimation, we believe Sea Group is worth $341.33 per share. This is a 55.4% upside from the current share price.This article was written by Superstocks Seekers.","news_type":1},"isVote":1,"tweetType":1,"viewCount":516,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003480759,"gmtCreate":1641044642196,"gmtModify":1676533567466,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003480759","repostId":"2195453431","repostType":4,"repost":{"id":"2195453431","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":1640757621,"share":"https://ttm.financial/m/news/2195453431?lang=&edition=fundamental","pubTime":"2021-12-29 14:00","market":"hk","language":"en","title":"China's Didi Plans Hong Kong 'Listing by Introduction', Picks Banks -Sources","url":"https://stock-news.laohu8.com/highlight/detail?id=2195453431","media":"Reuters","summary":"* Listing by introduction doesn't involve raising capital\n* Didi aims to file for Hong Kong listing ","content":"<p>* Listing by introduction doesn't involve raising capital</p>\n<p>* Didi aims to file for Hong Kong listing by end-April - source</p>\n<p>* Didi picks Goldman, two Chinese banks for HK listing - sources</p>\n<p>HONG KONG, Dec 29 (Reuters) - China's ride-hailing giant Didi Global plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.</p>\n<p>The Hong Kong mechanism, known as 'listing by introduction', would allow owners of Didi U.S. shares to transfer them to the city's bourse gradually, said the people. They declined to be identified as the plan was not yet public.</p>\n<p>Didi aims to file for the Hong Kong listing by end-April and list by June, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the people said.</p>\n<p>The plans are being prepared six months after Didi, sometimes dubbed the Uber Technologies Inc of China, made its debut in New York after raising $4.4 billion in a conventional IPO.</p>\n<p>It said earlier this month that it plans to delist from the U.S. bourse and pursue a Hong Kong listing.</p>\n<p>A spokesperson for Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, did not immediately respond to Reuters request for comment.</p>\n<p>Unlike typical IPOs, companies listing stock by introduction in Hong Kong raise no capital and issue no new shares. The mechanism was popular among companies in the past looking to build a brand in Hong Kong and the rest of Greater China.</p>\n<p>Didi has picked Goldman Sachs , China Merchants Bank International (CMBI), and China Construction Bank International (CCBI) to manage the Hong Kong listing process, said the people.</p>\n<p>Goldman declined to comment, while CMBI, and CCBI did not immediately respond to request for comment.</p>\n<p>Reuters reported this month Didi planned to hire Goldman&nbsp;to work on the Hong Kong listing before embarking on the New York delisting. It had asked the bank to come up with proposals on how a Hong Kong listing and New York delisting would work.</p>\n<p>Goldman was one of the main underwriters of Didi's New York IPO, along with <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and JPMorgan .</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 Didi Plans Hong Kong 'Listing by Introduction', Picks Banks -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\">\nChina's Didi Plans Hong Kong 'Listing by Introduction', Picks Banks -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\">2021-12-29 14:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* Listing by introduction doesn't involve raising capital</p>\n<p>* Didi aims to file for Hong Kong listing by end-April - source</p>\n<p>* Didi picks Goldman, two Chinese banks for HK listing - sources</p>\n<p>HONG KONG, Dec 29 (Reuters) - China's ride-hailing giant Didi Global plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.</p>\n<p>The Hong Kong mechanism, known as 'listing by introduction', would allow owners of Didi U.S. shares to transfer them to the city's bourse gradually, said the people. They declined to be identified as the plan was not yet public.</p>\n<p>Didi aims to file for the Hong Kong listing by end-April and list by June, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the people said.</p>\n<p>The plans are being prepared six months after Didi, sometimes dubbed the Uber Technologies Inc of China, made its debut in New York after raising $4.4 billion in a conventional IPO.</p>\n<p>It said earlier this month that it plans to delist from the U.S. bourse and pursue a Hong Kong listing.</p>\n<p>A spokesperson for Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, did not immediately respond to Reuters request for comment.</p>\n<p>Unlike typical IPOs, companies listing stock by introduction in Hong Kong raise no capital and issue no new shares. The mechanism was popular among companies in the past looking to build a brand in Hong Kong and the rest of Greater China.</p>\n<p>Didi has picked Goldman Sachs , China Merchants Bank International (CMBI), and China Construction Bank International (CCBI) to manage the Hong Kong listing process, said the people.</p>\n<p>Goldman declined to comment, while CMBI, and CCBI did not immediately respond to request for comment.</p>\n<p>Reuters reported this month Didi planned to hire Goldman&nbsp;to work on the Hong Kong listing before embarking on the New York delisting. It had asked the bank to come up with proposals on how a Hong Kong listing and New York delisting would work.</p>\n<p>Goldman was one of the main underwriters of Didi's New York IPO, along with <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> and JPMorgan .</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4503":"景林资产持仓","BK4536":"外卖概念","BK4551":"寇图资本持仓","BK4535":"淡马锡持仓","BK4550":"红杉资本持仓","BK4022":"陆运","BK4526":"热门中概股","BK4561":"索罗斯持仓","BK4505":"高瓴资本持仓","DIDI":"滴滴(已退市)","BK4539":"次新股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2195453431","content_text":"* Listing by introduction doesn't involve raising capital\n* Didi aims to file for Hong Kong listing by end-April - source\n* Didi picks Goldman, two Chinese banks for HK listing - sources\nHONG KONG, Dec 29 (Reuters) - China's ride-hailing giant Didi Global plans to use a mechanism that will allow it to list shares in Hong Kong without raising capital or issuing new stock as it seeks to delist from New York, two people with knowledge of the matter said.\nThe Hong Kong mechanism, known as 'listing by introduction', would allow owners of Didi U.S. shares to transfer them to the city's bourse gradually, said the people. They declined to be identified as the plan was not yet public.\nDidi aims to file for the Hong Kong listing by end-April and list by June, one of the people said.\nThe plans are being prepared six months after Didi, sometimes dubbed the Uber Technologies Inc of China, made its debut in New York after raising $4.4 billion in a conventional IPO.\nIt said earlier this month that it plans to delist from the U.S. bourse and pursue a Hong Kong listing.\nA spokesperson for Didi, whose apps, in addition to ride-hailing, offer products such as delivery and financial services, did not immediately respond to Reuters request for comment.\nUnlike typical IPOs, companies listing stock by introduction in Hong Kong raise no capital and issue no new shares. The mechanism was popular among companies in the past looking to build a brand in Hong Kong and the rest of Greater China.\nDidi has picked Goldman Sachs , China Merchants Bank International (CMBI), and China Construction Bank International (CCBI) to manage the Hong Kong listing process, said the people.\nGoldman declined to comment, while CMBI, and CCBI did not immediately respond to request for comment.\nReuters reported this month Didi planned to hire Goldman to work on the Hong Kong listing before embarking on the New York delisting. It had asked the bank to come up with proposals on how a Hong Kong listing and New York delisting would work.\nGoldman was one of the main underwriters of Didi's New York IPO, along with Morgan Stanley and JPMorgan .","news_type":1},"isVote":1,"tweetType":1,"viewCount":757,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9003480994,"gmtCreate":1641044504440,"gmtModify":1676533567450,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9003480994","repostId":"1165872157","repostType":2,"repost":{"id":"1165872157","pubTimestamp":1640916426,"share":"https://ttm.financial/m/news/1165872157?lang=&edition=fundamental","pubTime":"2021-12-31 10:07","market":"us","language":"en","title":"Why Nio, EVgo, and XL Fleet Stocks Jumped Today","url":"https://stock-news.laohu8.com/highlight/detail?id=1165872157","media":"Motley Fool","summary":"What happenedOne day after the American depositary shares of Chinese EV maker Nio(NYSE:NIO)hit their","content":"<html><head></head><body><p>What happened</p><p>One day after the American depositary shares of Chinese EV maker <b>Nio</b>(NYSE:NIO)hit their lowest level in over a year, the shares are jumping today. And the stocks of EV-charging network company <b>EVgo</b>(NASDAQ:EVGO)and vehicle electrification company <b>XL Fleet</b>(NYSE:XL)are also on the rise. The stocks had moved as follows as today:</p><ul><li>Nio shares up 14.76%</li><li>EVgo shares up 9.08%</li><li>XL Fleet shares up 7.9%</li></ul><p>So what</p><p>The thing is, these stocks have very little in common, other than the glaring fact that they all are in the electric vehicle sector. And that tells the story of today&#39;s big moves. Though these businesses have not exactly been moving in the same direction, the stock prices have. They are all down significantly in 2021. XL Fleet shares have dropped 59% year to date, while EVgo and Nio stocks are down 37% and 35%, respectively. But the businesses aren&#39;t quite as synchronized. Nio&#39;s sales are growing quickly, and it announced some exciting plans for next year, including the introduction of its latest EV that it hopes will challenge the <b>Tesla</b> Model 3.</p><p>Nio told investors it expects to begin deliveries of the new ET5 in the fourth quarter of 2022.</p><p>Now what</p><p>Nio is clearly the largest of these stocks, and likely the closest to profitability. With today&#39;s move, Nio has a market capitalization of about $52 billion. Compare that to EVgo&#39;s valuation of $2.7 billion and XL Fleet at just over $500 million. There&#39;s a good reason for that, too.</p><p>In addition to Nio&#39;s new ET5 coming late next year, it will begin selling its new, larger luxury sedan in March 2022. And beyond the ET5 and larger ET7, Nio has said it plans a third new offering next year. That may come from a collaboration with the largest automotive company in China, but it has yet to be officially announced.</p><p>Nio is also continuing to move outside of China as it expands the growth it began in Europe in 2021. EVgo and XL Fleet also have plans to grow, but the results are coming much slower than with Nio. XL Fleet, for example, saw its third-quarter revenue nearly cut in half compared to the third quarter of 2020. XL Fleet converts internal combustion-powered vehicles to plug-in hybrid electric power. It also plans to have a fully electrical conversion solution soon. But as auto manufacturers have struggled to keep up with demand amid supply chain constraints this year, the company hasn&#39;t been able to drive the growth it had hoped for.</p><p>However, XL Fleet recently announced it has grown its relationship with utility-scale wind and solar power facilities operators for charging infrastructure to support the fleet vehicles it has already provided. It is also in a pilot program with the Department of Defense that it hopes could grow into a large opportunity.</p><p>So while Nio and EVgo are growing as EV demand and adoption grows, XL Fleet is struggling at this point. That partially explains the vast disparity in the valuations assigned by investors. But for today, they are all being lumped in the same boat as investors are pushing EV sector names higher moving into the final trading day of the year.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Nio, EVgo, and XL Fleet Stocks Jumped Today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Nio, EVgo, and XL Fleet Stocks Jumped Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-31 10:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/30/why-nio-evgo-and-xl-fleet-stocks-jumped-today/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happenedOne day after the American depositary shares of Chinese EV maker Nio(NYSE:NIO)hit their lowest level in over a year, the shares are jumping today. And the stocks of EV-charging network ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/30/why-nio-evgo-and-xl-fleet-stocks-jumped-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","EVGO":"EVgo Inc."},"source_url":"https://www.fool.com/investing/2021/12/30/why-nio-evgo-and-xl-fleet-stocks-jumped-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165872157","content_text":"What happenedOne day after the American depositary shares of Chinese EV maker Nio(NYSE:NIO)hit their lowest level in over a year, the shares are jumping today. And the stocks of EV-charging network company EVgo(NASDAQ:EVGO)and vehicle electrification company XL Fleet(NYSE:XL)are also on the rise. The stocks had moved as follows as today:Nio shares up 14.76%EVgo shares up 9.08%XL Fleet shares up 7.9%So whatThe thing is, these stocks have very little in common, other than the glaring fact that they all are in the electric vehicle sector. And that tells the story of today's big moves. Though these businesses have not exactly been moving in the same direction, the stock prices have. They are all down significantly in 2021. XL Fleet shares have dropped 59% year to date, while EVgo and Nio stocks are down 37% and 35%, respectively. But the businesses aren't quite as synchronized. Nio's sales are growing quickly, and it announced some exciting plans for next year, including the introduction of its latest EV that it hopes will challenge the Tesla Model 3.Nio told investors it expects to begin deliveries of the new ET5 in the fourth quarter of 2022.Now whatNio is clearly the largest of these stocks, and likely the closest to profitability. With today's move, Nio has a market capitalization of about $52 billion. Compare that to EVgo's valuation of $2.7 billion and XL Fleet at just over $500 million. There's a good reason for that, too.In addition to Nio's new ET5 coming late next year, it will begin selling its new, larger luxury sedan in March 2022. And beyond the ET5 and larger ET7, Nio has said it plans a third new offering next year. That may come from a collaboration with the largest automotive company in China, but it has yet to be officially announced.Nio is also continuing to move outside of China as it expands the growth it began in Europe in 2021. EVgo and XL Fleet also have plans to grow, but the results are coming much slower than with Nio. XL Fleet, for example, saw its third-quarter revenue nearly cut in half compared to the third quarter of 2020. XL Fleet converts internal combustion-powered vehicles to plug-in hybrid electric power. It also plans to have a fully electrical conversion solution soon. But as auto manufacturers have struggled to keep up with demand amid supply chain constraints this year, the company hasn't been able to drive the growth it had hoped for.However, XL Fleet recently announced it has grown its relationship with utility-scale wind and solar power facilities operators for charging infrastructure to support the fleet vehicles it has already provided. It is also in a pilot program with the Department of Defense that it hopes could grow into a large opportunity.So while Nio and EVgo are growing as EV demand and adoption grows, XL Fleet is struggling at this point. That partially explains the vast disparity in the valuations assigned by investors. But for today, they are all being lumped in the same boat as investors are pushing EV sector names higher moving into the final trading day of the year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1033,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009443695,"gmtCreate":1640775479338,"gmtModify":1676533540686,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"Great sharing !","listText":"Great sharing !","text":"Great sharing !","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009443695","repostId":"2195445974","repostType":2,"repost":{"id":"2195445974","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":1640769938,"share":"https://ttm.financial/m/news/2195445974?lang=&edition=fundamental","pubTime":"2021-12-29 17:25","market":"sh","language":"en","title":"EXPLAINER-The 'VIE' structure helping Chinese firms float abroad","url":"https://stock-news.laohu8.com/highlight/detail?id=2195445974","media":"Reuters","summary":"By Scott Murdoch and Kane Wu   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commiss","content":"<html><body><p>By Scott Murdoch and Kane Wu</p><p>   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commission (CSRC) said last Friday </p><p>that companies operating with a so-called variable interest entity <a href=\"https://laohu8.com/S/VIE\">$(VIE)$</a> structure seeking to list abroad will need approval from the watchdog before the deal goes ahead.</p><p>   Companies will be required to register their plans with the regulator to ensure they comply with Chinese laws. Bankers and lawyers said the new rules were likely to ease the regulatory uncertainty </p><p>that have roiled financial markets in 2021 and stalled offshore listings.</p><p>    HOW DOES STRUCTURE WORK?</p><p>   Under this structure, a Chinese company sets up an offshore entity for overseas listing purposes that allows foreign investors to buy into the stock.</p><p>   The arrangement was designed to help skirt Chinese rules </p><p>restricting foreign investment in a number of sensitive industries such as media and telecommunications.</p><p>   Most offshore-listed Chinese tech firms, including Alibaba Group    and JD.com   , use this structure, which gives them more flexibility to raise capital, while also bypassing the scrutiny and lengthy IPO vetting process that companies incorporated in China have to go through.</p><p>   \"This structure is designed for companies in industries where China will issue an operating license only to local Chinese companies such as the internet, education, data centers and media industry,\" Jefferies analysts wrote earlier this year.</p><p>   HOW WILL NEW RULES WORK?</p><p>   There has largely been no regulatory framework in China for listings of VIE-structured companies until now.</p><p>   The CSRC's new draft rules published last week will include VIE-structured companies in its proposed filing mechanism for offshore listings, removing uncertainty whether such companies would be banned from offshore listings entirely.</p><p>   The deals will require effective regulatory approval which CSRC said could take up to 20 working days if adequate materials were submitted. Authorities have not yet said when the new rules will take effect.</p><p>   China's government can order a company to dispose of its assets or businesses if its offshore listing jeopardizes national security, under the proposed new rules.</p><p>   In its announcement, the CSRC said Chinese regulators respected the choices made by companies on listing locations and that the rules would not be retroactively applied - which means companies currently listed abroad will not be affected. </p><p> (Reporting by Scott Murdoch and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Pravin Char)</p><p>((Scott.Murdoch@thomsonreuters.com;))</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EXPLAINER-The 'VIE' structure helping Chinese firms float abroad</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\">\nEXPLAINER-The 'VIE' structure helping Chinese firms float abroad\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\">2021-12-29 17:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>By Scott Murdoch and Kane Wu</p><p>   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commission (CSRC) said last Friday </p><p>that companies operating with a so-called variable interest entity <a href=\"https://laohu8.com/S/VIE\">$(VIE)$</a> structure seeking to list abroad will need approval from the watchdog before the deal goes ahead.</p><p>   Companies will be required to register their plans with the regulator to ensure they comply with Chinese laws. Bankers and lawyers said the new rules were likely to ease the regulatory uncertainty </p><p>that have roiled financial markets in 2021 and stalled offshore listings.</p><p>    HOW DOES STRUCTURE WORK?</p><p>   Under this structure, a Chinese company sets up an offshore entity for overseas listing purposes that allows foreign investors to buy into the stock.</p><p>   The arrangement was designed to help skirt Chinese rules </p><p>restricting foreign investment in a number of sensitive industries such as media and telecommunications.</p><p>   Most offshore-listed Chinese tech firms, including Alibaba Group    and JD.com   , use this structure, which gives them more flexibility to raise capital, while also bypassing the scrutiny and lengthy IPO vetting process that companies incorporated in China have to go through.</p><p>   \"This structure is designed for companies in industries where China will issue an operating license only to local Chinese companies such as the internet, education, data centers and media industry,\" Jefferies analysts wrote earlier this year.</p><p>   HOW WILL NEW RULES WORK?</p><p>   There has largely been no regulatory framework in China for listings of VIE-structured companies until now.</p><p>   The CSRC's new draft rules published last week will include VIE-structured companies in its proposed filing mechanism for offshore listings, removing uncertainty whether such companies would be banned from offshore listings entirely.</p><p>   The deals will require effective regulatory approval which CSRC said could take up to 20 working days if adequate materials were submitted. Authorities have not yet said when the new rules will take effect.</p><p>   China's government can order a company to dispose of its assets or businesses if its offshore listing jeopardizes national security, under the proposed new rules.</p><p>   In its announcement, the CSRC said Chinese regulators respected the choices made by companies on listing locations and that the rules would not be retroactively applied - which means companies currently listed abroad will not be affected. </p><p> (Reporting by Scott Murdoch and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Pravin Char)</p><p>((Scott.Murdoch@thomsonreuters.com;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09618":"京东集团-SW","BK1502":"双十一","BK1517":"云办公","BK1608":"元宇宙概念","BK1584":"蚂蚁金服概念","VIE":"Viela Bio","BK1521":"挪威政府全球养老基金持仓","BK1575":"同股不同权","BK1588":"回港中概股","BK1142":"互联网与直销零售","BK1591":"就地过年概念","09988":"阿里巴巴-W","BK1586":"云计算"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2195445974","content_text":"By Scott Murdoch and Kane Wu   HONG KONG, Dec 29 (Reuters) - The China Securities Regulatory Commission (CSRC) said last Friday that companies operating with a so-called variable interest entity $(VIE)$ structure seeking to list abroad will need approval from the watchdog before the deal goes ahead.   Companies will be required to register their plans with the regulator to ensure they comply with Chinese laws. Bankers and lawyers said the new rules were likely to ease the regulatory uncertainty that have roiled financial markets in 2021 and stalled offshore listings.    HOW DOES STRUCTURE WORK?   Under this structure, a Chinese company sets up an offshore entity for overseas listing purposes that allows foreign investors to buy into the stock.   The arrangement was designed to help skirt Chinese rules restricting foreign investment in a number of sensitive industries such as media and telecommunications.   Most offshore-listed Chinese tech firms, including Alibaba Group    and JD.com   , use this structure, which gives them more flexibility to raise capital, while also bypassing the scrutiny and lengthy IPO vetting process that companies incorporated in China have to go through.   \"This structure is designed for companies in industries where China will issue an operating license only to local Chinese companies such as the internet, education, data centers and media industry,\" Jefferies analysts wrote earlier this year.   HOW WILL NEW RULES WORK?   There has largely been no regulatory framework in China for listings of VIE-structured companies until now.   The CSRC's new draft rules published last week will include VIE-structured companies in its proposed filing mechanism for offshore listings, removing uncertainty whether such companies would be banned from offshore listings entirely.   The deals will require effective regulatory approval which CSRC said could take up to 20 working days if adequate materials were submitted. Authorities have not yet said when the new rules will take effect.   China's government can order a company to dispose of its assets or businesses if its offshore listing jeopardizes national security, under the proposed new rules.   In its announcement, the CSRC said Chinese regulators respected the choices made by companies on listing locations and that the rules would not be retroactively applied - which means companies currently listed abroad will not be affected.  (Reporting by Scott Murdoch and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Pravin Char)((Scott.Murdoch@thomsonreuters.com;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":281,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9921266359,"gmtCreate":1671069228471,"gmtModify":1676538484573,"author":{"id":"4094967105351070","authorId":"4094967105351070","name":"BullZai","avatar":"https://static.tigerbbs.com/23c6dc9437ded102b967029e7db7697e","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"4094967105351070","authorIdStr":"4094967105351070"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$&nbsp;</a>","text":"$S&P 500(.SPX)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9921266359","isVote":1,"tweetType":1,"viewCount":323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}