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2023-04-17

$Tesla Motors(TSLA)$

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$Tesla Motors(TSLA)$

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$Apple(AAPL)$ up, up and away. Good holdings

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[ShakeHands] [Salute]

A Possible Bounce In QQQ With TQQQ Less Attractive For Day Trading

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Gd info

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href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a><v-v data-views=\"1\"></v-v>","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a><v-v data-views=\"1\"></v-v>","text":"$Tesla Motors(TSLA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944195850","isVote":1,"tweetType":1,"viewCount":343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944195991,"gmtCreate":1681736582613,"gmtModify":1681736584353,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","text":"$Tesla Motors(TSLA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944195991","isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949930434,"gmtCreate":1678287774628,"gmtModify":1678287777423,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a>up, up and away. Good holdings","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a>up, up and away. Good holdings","text":"$Apple(AAPL)$ up, up and away. Good holdings","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949930434","isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9949930167,"gmtCreate":1678287666760,"gmtModify":1678287669769,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$&nbsp;</a>up, up &amp; away","listText":"<a href=\"https://ttm.financial/S/SE\">$Sea Ltd(SE)$&nbsp;</a>up, up &amp; away","text":"$Sea Ltd(SE)$ up, up & away","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949930167","isVote":1,"tweetType":1,"viewCount":715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9980551563,"gmtCreate":1665788497552,"gmtModify":1676537663286,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[ShakeHands]&nbsp;[Salute]&nbsp;","listText":"[ShakeHands]&nbsp;[Salute]&nbsp;","text":"[ShakeHands] [Salute]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9980551563","repostId":"1151252859","repostType":4,"repost":{"id":"1151252859","kind":"news","pubTimestamp":1665760873,"share":"https://ttm.financial/m/news/1151252859?lang=&edition=fundamental","pubTime":"2022-10-14 23:21","market":"other","language":"en","title":"A Possible Bounce In QQQ With TQQQ Less Attractive For Day Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1151252859","media":"Seeking Alpha","summary":"SummaryAs investors lose more money, there is more loss aversion, to the extent that the market seems to have digested the interest rate-related worries for tech compared to the broader market.Also, t","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>As investors lose more money, there is more loss aversion, to the extent that the market seems to have digested the interest rate-related worries for tech compared to the broader market.</li><li>Also, the factors which have driven the Nasdaq down in the first place could help it to bounce back with the forthcoming earnings season also likely to play a role.</li><li>As a result, QQQ could rise by 14%, while TQQQ could deliver three times more gains if one is ready to take on the compounding risks associated with this highly leveraged ETF.</li><li>On the other hand, the daily variations also seem to be indicating that TQQQ has become less attractive for day trading.</li><li>Finally, bear in mind that there are risks of further downsides and this is more of a trader&#39;s market, one where you are prepared to exit with a stop loss.</li></ul><p>The stock market is in turmoil with the S&amp;P 500 down by 17.7% during the last year, but the tech-heavy Invesco QQQ Trust (NASDAQ: QQQ) is down by 26.7%. Had it not been for energy stocks, the SPDR S&amp;P 500 ETF Trust (SPY) could have fared worse with the Nasdaq having also been weighed down by the semiconductor stocks it holds.</p><p><img src=\"https://static.tigerbbs.com/7900fa2d4d9bd46c85875791e5b0db5d\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/>Data by YCharts</p><p>The objective of this thesis is to assess whether, after such a drop, there are still ingredients that can drive QQQ to yet another bounce. At the same time, building on the trend-based analysis for the Invesco ETF together with daily price variations, I will also show that the ProShares UltraPro QQQ ETF (NASDAQ: TQQQ) is becoming less attractive for the day trader, but can still be used to profit from an uptrend in the Nasdaq.</p><p>For this purpose, I start by elaborating on the recent market drivers.</p><p><b>Factors Driving Down the Nasdaq</b></p><p>First, QQQtracksthe Nasdaq-100 Index, which encapsulates the 100 largest non-companies listed on the Nasdaq based on market cap. As such, it contains the most valuable publicly listed names in the world like Apple (AAPL), Microsoft (MSFT), and Tesla (TSLA) as shown in the diagram below, with 97.56% of its assets dedicated to the U.S.</p><p><img src=\"https://static.tigerbbs.com/c46b0ae548f3b7d174e34a322524d749\" tg-width=\"640\" tg-height=\"216\" referrerpolicy=\"no-referrer\"/></p><p>QQQ Top Holdings (www.invesco.com)</p><p>These are multinationals that span the whole globe. As such, they are also impacted by economic conditions abroad, namely in Europe where a potential slowdown should be more acute than in the U.S. Moreover, the Federal Reserve raising rates also mean that the greenback becomes pricier vis a vis the local currencies of countries where American companies operate, in turn constituting headwinds for QQQ&#39;s holdings when depreciated euro revenues reach dollar-denominated income statements.</p><p>Thus, companies like Microsoft have been warning about potential Forex-related earnings risks since June. This coincided with the trough in the value of QQQ as shown in the introductory chart. More recently, cracks are also starting to appear in Apple&#39;s strong iPhone facade as sales dropped in China.</p><p>Besides currency risks, there are concerns about higher prices for goods and services caused by high inflation hampering demand throughout the U.S. economy in turn impacting the consumer discretionary sector as well as semiconductor companies like Nvidia (NVDA) as PC sales have dropped following the pandemic boom, with many Americans now worrying that the country is already in recession. In addition, geopolitical tensions between the U.S. and China again surfaced sending the VanEck Semiconductor ETF (SMH) down 9.3% in just five days.</p><p>Furthermore, supply chain challenges have also reduced the number of deliveries for Tesla.</p><p><b>Market Digesting Tech Worries and the Bounce</b></p><p>All the factors I have enumerated above imply that QQQ does not make an investment case for the long term, but, that there could be a bounce as investors seem to have digested the fact that tech stocks should be more impacted than the broader market by higher interest rates.</p><p>In order to justify my statement, I plotted the daily differences between the values of the SPY (representing the broader market) and QQQ as shown in the blue chart below.</p><p><img src=\"https://static.tigerbbs.com/535b6d3fd4854d05cbae142324fe9f45\" tg-width=\"640\" tg-height=\"362\" referrerpolicy=\"no-referrer\"/></p><p>Chart built by the author using data from (finance.yahoo.com)</p><p>Making sense of the chart, the November 2021-June 2022 period saw the SPY-QQQ differential obtained by subtracting the daily values of the QQQ from SPY moving higher, from 60 to above 100, as the Nasdaq suffered from more downside than SPY (S&amp;P 500). This was due to investors realizing that the Federal Reserve would have to tighten interest rates, instead of keeping it on hold as a result of inflation not being transitory.</p><p>Now, rates going higher is a negative for the market as a whole, but tech stocks, in particular, depending on the state of their individual balance sheets, may find it harder to get access to cheap money to drive their higher growth rates and earnings.</p><p>Subsequently, after reaching a peak of 103-104 reached in June as marked by the green dotted line above, the differential has now settled down to the 95 level, showing that tech stocks are not being punished as severely relative to the broader market. This probably indicates that investors seem to have priced in the fact that the Fed will have to hike rates aggressively.</p><p>Furthermore, with analysts having revised the S&amp;P 500&#39;s estimated third-quarter earnings growth rate downwards to2.4%(or the lowest since Q3 2020 (-5.7%) and a lot of the negative news already baked in the performance of the Nasdaq, there could be an upside when the tech earnings season starts on Tuesday 25.</p><p>To this end, QQQ&#39;s RSI of 32.81(or under 50) indicates that it has been oversold and there could be an upside to around $300 which is the 50-day SMA. Other events that could induce a positive momentum are a potential reprieve obtained by Taiwan Semiconductor (TSM) and others for the export of certain types of chips to China while being aligned with American security interests.</p><p>For investors, $300 represents a 14% upside from QQQ&#39;s current value of $262, but, one could obtain a yield of three times more when using TQQQ which is a trading tool that thrives on volatility.</p><p><b>Trading with TQQQ</b></p><p>This leveraged ProShares ETF aims to return three times (3x) the return of its underlying benchmark which targets the daily performance of the Nasdaq-100 Index. Thus, it provides thrice the performance of QQQ.</p><p><img src=\"https://static.tigerbbs.com/267691c2b7490ed288d08dbc673f57f1\" tg-width=\"640\" tg-height=\"284\" referrerpolicy=\"no-referrer\"/></p><p>TQQQ Important Considerations (www.proshares.com)</p><p>In the same way as QQQ, TQQQ allows you to profit from the market during a bounce, that is after a flurry of good news has shifted investors&#39; sentiment to &#34;Risk on&#34;. This is possible following the ProShares ETF&#39;s39%decline in just one month and even a small bounce could return profits of 10%.</p><p>Now, since this a highly leveraged ETF, ProShares advises not to hold it for a period of greater than one day as due to the compounding of daily returns, the returns can be significantly different than what is intended. For example, when QQQ rises by 3% in one week, it may happen that TQQQ does not return 9% as should normally be the case as there are more chances of the Nasdaq fluctuating (going up and down) widely during five days than one.</p><p>However, in order to make a profitable day trade, the difference between TQQQ&#39;s high and low has to be significant (more than 10%), but according to my observation, this has been the case in the recent month despite the highly volatile market. I confirmed this observation by adding an orange chart to the initial one, which shows the daily variations (or fluctuations) obtained by plotting the daily differences between the high and low values of TQQQ.</p><p>As shown by the number of peaks decreasing from the left of the green line to the right, the chart shows that the daily variations have been diminishing since June. This, in turn, indicates a lower degree of volatility on a day-to-day basis, showing that TQQQ is getting less attractive for day trading compared to before.</p><p><img src=\"https://static.tigerbbs.com/b4efbdda0db299ccfa306819febb54dd\" tg-width=\"640\" tg-height=\"363\" referrerpolicy=\"no-referrer\"/></p><p>Charts built by the author using data from (finance.yahoo.com)</p><p>Explanatory reasons could include traders moving into cash or migrating from tech to energy-related leveraged ETFs in order to make money. Another reason could pertain to investors having finally accepted the fact that there will not be a reprieve in the Fed&#39;s hawkish tone. This again confirms that the market seems to have digested that hiking of rates by the Fed is not a fatality.</p><p>In these circumstances, if one is prepared to take on compounding risks and trade for a period of more than one day, like one week, for example, TQQQ makes sense. To this end, its RSI of31.66(or under 50) indicates that it has been oversold and after the positive financial results of TSMC, there could be some temporary upside.</p><p>However, just as when trading any leveraged ETF, it is important to constantly monitor the market and exit with a stop loss at the first signs of potential downsides.</p><p><b>Conclusion</b></p><p>Therefore, the ingredients for the Nasdaq and QQQ to make a temporary jump, which I estimate at 14% are present. Along the same lines, TQQQ could also deliver an upside of about three times but the real returns are obtained after subtracting compounding-related losses.</p><p>Another important point is that far from advising anyone to buy the dip, I have supported this thesis by analyzing the differential between tech and the broader market which point to investors having possibly digested the aggressive hikes to be implemented by the U.S. Fed.</p><p>Still, the U.S. Central bank which is data-driven may turn up to be super hawkish and I may not have priced in all factors which may adversely impact markets like credit risks emerging in the high-yield fixed-income space due to tightening of liquidity in the monetary system as well as some uncertainty which could appear in bond markets following the bond sell-off in the U.K. some two weeks back.</p><p>Finally, since we are more amid a trader market, it is important to keep on to your cash as the cost of living escalates further, and trade with caution, like for example waiting for CPI data released on October 13 before trading.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nA Possible Bounce In QQQ With TQQQ Less Attractive For Day Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-14 23:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4546360-possible-bounce-qqq-tqqq-less-attractive-day-trading><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryAs investors lose more money, there is more loss aversion, to the extent that the market seems to have digested the interest rate-related worries for tech compared to the broader market.Also, ...</p>\n\n<a href=\"https://seekingalpha.com/article/4546360-possible-bounce-qqq-tqqq-less-attractive-day-trading\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TQQQ":"纳指三倍做多ETF","QQQ":"纳指100ETF"},"source_url":"https://seekingalpha.com/article/4546360-possible-bounce-qqq-tqqq-less-attractive-day-trading","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151252859","content_text":"SummaryAs investors lose more money, there is more loss aversion, to the extent that the market seems to have digested the interest rate-related worries for tech compared to the broader market.Also, the factors which have driven the Nasdaq down in the first place could help it to bounce back with the forthcoming earnings season also likely to play a role.As a result, QQQ could rise by 14%, while TQQQ could deliver three times more gains if one is ready to take on the compounding risks associated with this highly leveraged ETF.On the other hand, the daily variations also seem to be indicating that TQQQ has become less attractive for day trading.Finally, bear in mind that there are risks of further downsides and this is more of a trader's market, one where you are prepared to exit with a stop loss.The stock market is in turmoil with the S&P 500 down by 17.7% during the last year, but the tech-heavy Invesco QQQ Trust (NASDAQ: QQQ) is down by 26.7%. Had it not been for energy stocks, the SPDR S&P 500 ETF Trust (SPY) could have fared worse with the Nasdaq having also been weighed down by the semiconductor stocks it holds.Data by YChartsThe objective of this thesis is to assess whether, after such a drop, there are still ingredients that can drive QQQ to yet another bounce. At the same time, building on the trend-based analysis for the Invesco ETF together with daily price variations, I will also show that the ProShares UltraPro QQQ ETF (NASDAQ: TQQQ) is becoming less attractive for the day trader, but can still be used to profit from an uptrend in the Nasdaq.For this purpose, I start by elaborating on the recent market drivers.Factors Driving Down the NasdaqFirst, QQQtracksthe Nasdaq-100 Index, which encapsulates the 100 largest non-companies listed on the Nasdaq based on market cap. As such, it contains the most valuable publicly listed names in the world like Apple (AAPL), Microsoft (MSFT), and Tesla (TSLA) as shown in the diagram below, with 97.56% of its assets dedicated to the U.S.QQQ Top Holdings (www.invesco.com)These are multinationals that span the whole globe. As such, they are also impacted by economic conditions abroad, namely in Europe where a potential slowdown should be more acute than in the U.S. Moreover, the Federal Reserve raising rates also mean that the greenback becomes pricier vis a vis the local currencies of countries where American companies operate, in turn constituting headwinds for QQQ's holdings when depreciated euro revenues reach dollar-denominated income statements.Thus, companies like Microsoft have been warning about potential Forex-related earnings risks since June. This coincided with the trough in the value of QQQ as shown in the introductory chart. More recently, cracks are also starting to appear in Apple's strong iPhone facade as sales dropped in China.Besides currency risks, there are concerns about higher prices for goods and services caused by high inflation hampering demand throughout the U.S. economy in turn impacting the consumer discretionary sector as well as semiconductor companies like Nvidia (NVDA) as PC sales have dropped following the pandemic boom, with many Americans now worrying that the country is already in recession. In addition, geopolitical tensions between the U.S. and China again surfaced sending the VanEck Semiconductor ETF (SMH) down 9.3% in just five days.Furthermore, supply chain challenges have also reduced the number of deliveries for Tesla.Market Digesting Tech Worries and the BounceAll the factors I have enumerated above imply that QQQ does not make an investment case for the long term, but, that there could be a bounce as investors seem to have digested the fact that tech stocks should be more impacted than the broader market by higher interest rates.In order to justify my statement, I plotted the daily differences between the values of the SPY (representing the broader market) and QQQ as shown in the blue chart below.Chart built by the author using data from (finance.yahoo.com)Making sense of the chart, the November 2021-June 2022 period saw the SPY-QQQ differential obtained by subtracting the daily values of the QQQ from SPY moving higher, from 60 to above 100, as the Nasdaq suffered from more downside than SPY (S&P 500). This was due to investors realizing that the Federal Reserve would have to tighten interest rates, instead of keeping it on hold as a result of inflation not being transitory.Now, rates going higher is a negative for the market as a whole, but tech stocks, in particular, depending on the state of their individual balance sheets, may find it harder to get access to cheap money to drive their higher growth rates and earnings.Subsequently, after reaching a peak of 103-104 reached in June as marked by the green dotted line above, the differential has now settled down to the 95 level, showing that tech stocks are not being punished as severely relative to the broader market. This probably indicates that investors seem to have priced in the fact that the Fed will have to hike rates aggressively.Furthermore, with analysts having revised the S&P 500's estimated third-quarter earnings growth rate downwards to2.4%(or the lowest since Q3 2020 (-5.7%) and a lot of the negative news already baked in the performance of the Nasdaq, there could be an upside when the tech earnings season starts on Tuesday 25.To this end, QQQ's RSI of 32.81(or under 50) indicates that it has been oversold and there could be an upside to around $300 which is the 50-day SMA. Other events that could induce a positive momentum are a potential reprieve obtained by Taiwan Semiconductor (TSM) and others for the export of certain types of chips to China while being aligned with American security interests.For investors, $300 represents a 14% upside from QQQ's current value of $262, but, one could obtain a yield of three times more when using TQQQ which is a trading tool that thrives on volatility.Trading with TQQQThis leveraged ProShares ETF aims to return three times (3x) the return of its underlying benchmark which targets the daily performance of the Nasdaq-100 Index. Thus, it provides thrice the performance of QQQ.TQQQ Important Considerations (www.proshares.com)In the same way as QQQ, TQQQ allows you to profit from the market during a bounce, that is after a flurry of good news has shifted investors' sentiment to \"Risk on\". This is possible following the ProShares ETF's39%decline in just one month and even a small bounce could return profits of 10%.Now, since this a highly leveraged ETF, ProShares advises not to hold it for a period of greater than one day as due to the compounding of daily returns, the returns can be significantly different than what is intended. For example, when QQQ rises by 3% in one week, it may happen that TQQQ does not return 9% as should normally be the case as there are more chances of the Nasdaq fluctuating (going up and down) widely during five days than one.However, in order to make a profitable day trade, the difference between TQQQ's high and low has to be significant (more than 10%), but according to my observation, this has been the case in the recent month despite the highly volatile market. I confirmed this observation by adding an orange chart to the initial one, which shows the daily variations (or fluctuations) obtained by plotting the daily differences between the high and low values of TQQQ.As shown by the number of peaks decreasing from the left of the green line to the right, the chart shows that the daily variations have been diminishing since June. This, in turn, indicates a lower degree of volatility on a day-to-day basis, showing that TQQQ is getting less attractive for day trading compared to before.Charts built by the author using data from (finance.yahoo.com)Explanatory reasons could include traders moving into cash or migrating from tech to energy-related leveraged ETFs in order to make money. Another reason could pertain to investors having finally accepted the fact that there will not be a reprieve in the Fed's hawkish tone. This again confirms that the market seems to have digested that hiking of rates by the Fed is not a fatality.In these circumstances, if one is prepared to take on compounding risks and trade for a period of more than one day, like one week, for example, TQQQ makes sense. To this end, its RSI of31.66(or under 50) indicates that it has been oversold and after the positive financial results of TSMC, there could be some temporary upside.However, just as when trading any leveraged ETF, it is important to constantly monitor the market and exit with a stop loss at the first signs of potential downsides.ConclusionTherefore, the ingredients for the Nasdaq and QQQ to make a temporary jump, which I estimate at 14% are present. Along the same lines, TQQQ could also deliver an upside of about three times but the real returns are obtained after subtracting compounding-related losses.Another important point is that far from advising anyone to buy the dip, I have supported this thesis by analyzing the differential between tech and the broader market which point to investors having possibly digested the aggressive hikes to be implemented by the U.S. Fed.Still, the U.S. Central bank which is data-driven may turn up to be super hawkish and I may not have priced in all factors which may adversely impact markets like credit risks emerging in the high-yield fixed-income space due to tightening of liquidity in the monetary system as well as some uncertainty which could appear in bond markets following the bond sell-off in the U.K. some two weeks back.Finally, since we are more amid a trader market, it is important to keep on to your cash as the cost of living escalates further, and trade with caution, like for example waiting for CPI data released on October 13 before trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9990660816,"gmtCreate":1660350202438,"gmtModify":1676533454909,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9990660816","repostId":"1157910275","repostType":4,"repost":{"id":"1157910275","kind":"news","pubTimestamp":1660318322,"share":"https://ttm.financial/m/news/1157910275?lang=&edition=fundamental","pubTime":"2022-08-12 23:32","market":"us","language":"en","title":"Tesla Is Past Its Sell-By Date!","url":"https://stock-news.laohu8.com/highlight/detail?id=1157910275","media":"Seeking Alpha","summary":"SummaryElon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!To achieve that requires several more huge factories to be built that are not yet past the initial planning stages nor even a decision made where they will be located!","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Elon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!</li><li>To achieve that requires several more huge factories to be built that are not yet past the initial planning stages nor even a decision made where they will be located!</li><li>They will require vast sums of money as might many existing problems that remain unresolved with new ones still emerging.</li><li>My share price target is around $100 by year-end. Some are more optimistic, with Citi giving Tesla a sell-rated forecast of $375 → $424. JP Morgan suggests $385. The price, as I write, is $864.</li><li>Some have suggested a price of $1580, which should frighten any cautious investor away.</li></ul><p><b>Those wing doors will not get that Tesla off the ground,</b> and new action against Elon Musk&#39;s autopilot claims might even stop them being driven manually by man - including Musk - in some places. An earlier action against Musk by the SEC resulted in him giving up his driving position as both Chairman and CEO.</p><p>In my first article on Tesla, Inc. (NASDAQ:TSLA) on 16 November, 2021, titled Tesla&#39;s Ticking Time Bomb, I strongly advised selling Tesla. The price then was $1,054.73, so it is down 18%, somewhat more than the S&amp;P500&#39;s 12% decline. On the first of that same month, the price was $1,209.</p><p>TSLA hit a low of $626 on 24 May, 2022, suggesting many are having doubts, with the recent bounce perhaps being caused by believers in that sky-high $1580 forecast. To those I would recommend they check the past and see that the price had never gone above $100 until the beginning of last year, the price level I believe it will return to. It is down 27% YTD en route to that price.</p><p>This shall probably be my last article on Tesla, as I prefer to write on companies that will gain from world developments, and those do not benefit Tesla in the way they did in the past. That should have a significant negative effect on Tesla&#39;s future performance in both the car and stock markets, and I hope this article will be of value to those holding or considering buying into Tesla now. I would emphasize here that I am not a short seller or a trader. Tesla may well suit those that are, but it does not suit me. I am an investor and I write with only that in mind.</p><p>I will first touch on Tesla the car (and solar panel) maker and expand on the challenges it faces later.</p><p><b>Tesla The Car Maker</b></p><p>Tesla was founded by a visionary named Elon Musk. He saw an opportunity in electric cars, EVs, when other carmakers - and especially the U.S. and German manufacturers - were mostly focused on traditional internal combustion engines, ICEs.</p><p>He gained an almost cult-like following among retail investors and used the resultant share price explosion to raise over $13 billion in four stock offerings. Car-making is a capital-intensive industry, and such low capital costs gave it an advantage to get off the ground and into the big league.</p><p>Tesla also had <i>good profit margins</i>. Being a newcomer to car manufacturing, Tesla did not have legacy car maker problems such as restrictive unions and large company bureaucracies to add cost, plus EVs require many fewer components than ICEs. That makes Tesla&#39;s profit margins better - gross margins were 23% in fiscal 2020, compared with Ford&#39;s (F) 10%. <i>That gap is closing.</i> Tesla&#39;s superior margins over other carmakers are used by many believers to justify its high valuation, but - while they are good compared with many - they are not sufficiently better than the world&#39;s largest carmaker Toyota (TM,OTCPK:TOYOF) to do make the difference so extreme.</p><p><b>Toyota&#39;s P/E is 10.9. Tesla&#39;s P/E is 103.77 - nearly 10 times Toyota&#39;s!</b></p><p><b>Toyota&#39;s market cap $260bn. Tesla&#39;s $967bn - nearly 4 times Toyota&#39;s!</b></p><p>The latest gross margin (&#34;GM&#34;) figures show this:</p><p>Tesla&#39;s GM: 28%. Net: 10.5%. Ops: 14.6%</p><p>Toyota&#39;s GM: 18%. Net: 8.5%. Ops: 8%</p><p>That GM gap will close when Toyota (and other ICE makers) build more EVs because of the hugely lower amount of materials needed to build EV motors than ICEs, so either TM&#39;s P/E should shoot up or TSLA&#39;s crash down.</p><p>The latest results from Tesla&#39;s website were good, but the Gross Margin is declining.</p><p><img src=\"https://static.tigerbbs.com/3d5fce89f9eada41780cfacd8d123c95\" tg-width=\"602\" tg-height=\"323\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/bed17678a34727ef88451b33fd78453a\" tg-width=\"599\" tg-height=\"473\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/2e9b6e7adf9f631f7442c6692bd0a231\" tg-width=\"603\" tg-height=\"554\" referrerpolicy=\"no-referrer\"/>Source: Tesla.</p><p>If more financial information is required, it can be found here onTesla&#39;s website.</p><p><b>Cash and cash equivalents</b> are good, but billions will be needed to build the additional giant factories required, as might the many existing problems that remain unresolved with new ones still emerging.</p><p>I will now move on to those...</p><p>Problems - Internal <b>Self-Inflicted</b></p><p><b>There are many self-inflicted problems,</b> and many have yet to be resolved. The latest are claims by California&#39;s DMV that Tesla overstated its autopilot capabilities. ThisReutersarticle tells more about that. California is Tesla&#39;s largest U.S. market. The company sold 121,000 vehicles there in 2021, out of an estimated 352,000 sold nationwide. The DMV is seeking remedies that could include <b>suspending Tesla&#39;s license to sell vehicles in California</b> and requiring the company to make restitution to drivers.</p><p>Wikipedia has this list of <b>lawsuits</b> against Tesla.I know of no other reputable company that has stirred up so much controversy. The &#34;autopilot&#34; - the word used by Elon Musk to describe Tesla&#39;s driver assistance technology - fatality case could prove to be fatal or near-fatal for the whole company. Autoblog tells us more on that.</p><p>Currently, in a car accident in the U.S., the driver of one car sues the driver of the other car. It is only very seldom the car manufacturer is sued. For self-driving cars, however, things are likely to be different. There aren&#39;t other drivers to sue. There is just the car - and the company that made it. It won&#39;t take long for plaintiffs&#39; lawyers to start filing big lawsuits, even class actions, against the car and technology companies that made the cars and designed the self-driving technology. And, as we have seen in other such situations, <b>there could soon be billion-dollar judgments against Tesla.</b></p><p><b>Recall and Warranty costs.</b> In 2021, Tesla recalled 475,000 vehicles for safety issues in the U.S. alone. Barron&#39;s recently reported that, since January, 2022, Tesla has issued four recalls for almost 1.5 million vehicles worldwide, according to the National Highway Traffic Safety Administration. That&#39;s roughly four times the 360,000 cars that Tesla delivered in the U.S. in 2021, and a half-million more, at least, than the 936,000 delivered worldwide. Global deliveries rose about 87%, compared with 2020. Those problems have to be fixed free of charge, plus many other problems require fixing under warranty.</p><p>They all require the vehicle to be returned to a dealer to be fixed. They <b>are a nuisance for the owners and costly for Tesla shareholders.</b></p><p><b>Musk&#39;s Antics.</b> I borrowed the word antic from Al Jazeera&#39;s report headed &#34;Musk&#39;s antics turn Tesla owners, new buyers against it.&#34;</p><p>Another antic was buying into <b>solar panels</b>. This is a U.S.-only market for Tesla. He got into solar by buying a troubled company founded by his cousins and on whose board he sat. That was paid for with Tesla shareholders&#39; money and led to a failed lawsuit by them, according to this Business Insider report. Its policy has been to offer <b>lowest price guarantees, which is suicidal</b> in such a commodity product market sector and - to reduce costs in the U.S. further - President Biden has waived tariffs on solar panels imported from Cambodia, Malaysia, Thailand, and Vietnam. A CNET report also claims that &#34;Tesla is skimping on customer service.&#34;This activity will be a constant drain on Tesla profits until closed!</p><p><b>Share sales.</b> <b>Musk&#39;s latest antic is to sell more Tesla shares</b> purportedly to prepare any payment he may have to pay for his Twitter bid. One has to question why did he sell now if he has confidence the stock price will be higher when the outcome of that case against him is known?! This SA News report headed &#34;Elon Musk backtracks on stock pledge&#34; tells more, including &#34;he now owns just under 15% of Tesla.&#34; One day he may be a total high-price dropout!</p><p><b>Musk&#39;s Aims.</b> As a visionary, he has achieved near miracles to get Tesla where it is today. However, it will need another miracle in the near future if 20 million cars are to be made, and even aiming for them could put Tesla into reverse gear financially. At Tesla&#39;s recent Cyber Round Up in Austin, Texas, Musk said the company would &#34;end up building at least 10 or 12 Gigafactories.&#34; Those <b>Gigafactories cost Gigabucks to build.</b> They also require years to build, and he needs them soon if he is to make <b>20 million cars per year by2030.</b> That means completion before the end of 2029 - just over 7 years away. None have been started, nor even have locations been announced!</p><p>In the unlikely event Tesla achieved that number, it would require another miracle to sell that many cars, because gaining 16.4% of the entire world car market - including ICEs - is probably impossible for any car maker.GlobeNewswiremade the 2030 estimate of total car market size in 2030 of 122.83 million units that I used to calculate that market share percentage. It makes worthwhile reading.</p><p>It also looks rather stupid ifS&amp;P Global&#39;s estimate of 26.8 million EV sales by 2030 proves correct. That would mean <b>Tesla has to achieve 75% EV market share!</b></p><p>Toyota is the world&#39;s largest carmaker and manufactures around 10 million cars per year. It has around 10% of the world market. It makes ICEs, hybrids, plug-in hybrids, battery EVs, and hydrogen cars. Tesla only makes battery EVs.</p><p>It therefore takes a bit of a stretch of the imagination to see Tesla selling 20 million cars per year by 2030... if it can make them!</p><p><b>Problems - External</b></p><p><b>Lithium supplies.</b> The Financial Times recently published this article headed &#34;Electric-car makers warned lithium supply crunch is set to last until 2030.&#34;</p><p><b>Political and economic.</b> The new <b>Inflation Reduction Act</b> could have a perverse and unintended negative result for Tesla. The $7,500 electric vehicle tax credit will be renewed in January of 2023 and last until the end of 2032. A striking new requirement is that qualifying cars must be assembled in North America and that materials and critical minerals in the battery must come from the U.S. or a country with a free trade agreement with the U.S. That means some electric vehicles sold in the U.S. will be ineligible as soon as the bill takes effect. Chinese battery maker Contemporary Amperex Technology Co., Limited (&#34;CATL&#34;), who make some batteries for Tesla, has dropped plans to make them in the U.S.</p><p><b>Political backlashes.</b> Elon Musk has probably made some <b>enemies</b> at the political top<b>in California</b>due to his personal move, and Tesla&#39;s HQ, from there to Texas. They may encourage a harsh judgement in DMV&#39;s autopilot case against Tesla that I mentioned above.</p><p>Tesla may yet face other challenges due to his behavior <b>in Germany.</b> That country is full of bureaucracies, some of which wanted to prevent the car and battery factory near Berlin from being built in the first place. Also, local residents and environmentalists - including Green party politicians - did not want their environmentally and visually valuable forest torn down, as this report shows. Elon Musk apparently barged through those bureaucratic regulations and local and environmental objections and started building without proper approvals. The battery factory has still not been started. Their unanswered environmental problems remain. This CNBC article tells more.</p><p><b>The UK is in or near recession,</b> as are several EU continues. They include important German, UK, French, and Italian car makers, all of which have poured billions into making EVs.</p><p>That brings me to another major problem for Tesla...</p><p><b>Competition</b></p><p>-<b>Loss of a previously exclusive big Tesla buyer.</b> EV subscription company <b>Autonomy has placed an order for 23,000 EVs</b> with 17 global automakers to expand and diversify its subscription fleet beyond just Tesla vehicles. Autonomy currently has 1,000 cars, all of which are Tesla models. The fleet order valued at $1.2B includes EVs from BMW (OTCPK:BMWYY), Canoo (GOEV), Fisker (FSR), Ford (F), General Motors (GM), Hyundai (OTCPK:HYMTF), Lucid Group (LCID), Mercedes-Benz (OTCPK:DDAIF), Polestar (PSNY), Rivian (RIVN), Stellantis (STLA), Subaru (OTCPK:FUJHY), Tesla (TSLA), Toyota Motor, VinFast, Volvo Car (OTCPK:VLVOF), and Volkswagen (OTCPK:VLKAF).</p><p>-<b>Others lead the autopilot race.</b> Tesla&#39;s autopilot faces costly attacks and is anyway losing the race to others, as this chart shows</p><p><img src=\"https://static.tigerbbs.com/28c1c01bae4366c47e659b1d8e789f69\" tg-width=\"349\" tg-height=\"286\" referrerpolicy=\"no-referrer\"/></p><p>inverse.com</p><p>Waymo leads with Baidu not far behind...</p><p>-<b>Chinese tech giant, Baidu</b>(BIDU) has securedthe first permits in China to offer commercial <b>fully driverless</b> robotaxi services to the public on open roads.</p><p>Wei Dong, vice president and chief safety operation officer of Baidu&#39;s Intelligent Driving Group, said in a statement:</p><blockquote>&#34;We believe these permits are a key milestone on the path to the inflection point when the industry can finally roll out fully autonomous driving services at scale.&#34;</blockquote><p>Baidu will sell its technology to other car makers helping those leapfrog over Tesla.</p><p>It will also make cars having unveiled the Apollo RT6 - photo above - an EV ready for production with aninitial starting price of $37,000. Jidu Auto, which is a joint venture between Baidu and Geely Automobile Holdings (OTCPK:GELYY) is looking at raising between $300M and $400M as it seeks to launch its first commercial vehicle in 2023.</p><p>- Apple (AAPL) may have this fully autonomous EVon the road by 2025. Rumors suggest it will be made by Hyundai. If so, maybe their worldwide dealer network will sell and service it.</p><p>Apple reportedly poacheda top executive from Italian luxury carmaker Lamborghini for its car project.</p><p>- China&#39;s <b>BYD (OTCPK:BYDDF,OTCPK:BYDDY) sold 641,350</b> EVs in the first six months of 2022, representing a 315% increase from the same period last year. Tesla, on the other hand, delivered a total of 564,743 vehicles in H1.</p><p>- Century-old car makers are determined to be around for another century! Every major maker is spending billions on EVs. A JV between Stellantis (STLA) and Samsung (OTCPK:SSNLF) is building a $2.5 billion battery factory in Indiana. General Motors is spending $7bn to convert an existing factory to make EVs. That shows <b>another advantage traditional car makers have overTesla.</b>It costs less to convert an existing plant to make EVs than to build a new one from scratch, plus they have an established workforce and customer base.</p><p>A report on SA tells us that GM&#39;s all-electric Hummer draws rave review from Barron&#39;s.</p><p>Ford is spending $11 billion on plants in Tennessee and Kentucky, and plans to build 600,000 EVs by the end of next year.</p><p>European companies are likewise spending huge sums at home and in the U.S. to build EVs and battery factories.</p><p>Putting all those above points into one big picture and I conclude that...</p><p><b>Tesla Is Beyond Its Sell-By Date</b></p><p>I mentioned Elon Musk&#39;s sales above. He is not the only insider to have been selling; Robyn Denholm - Chairman of the Board - was a huge seller in May and June this year. From the Financial Times, the last time I could find news of insiders buying - including a tiny buy by Elon Musk - was in February 2020:</p><p><img src=\"https://static.tigerbbs.com/0bcb151636a2cf9f820f10fcff805c44\" tg-width=\"614\" tg-height=\"448\" referrerpolicy=\"no-referrer\"/>Source: Financial Times</p><p><b>If Insiders are big sellers - and none buy - why should outsiders do otherwise?!</b></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 Is Past Its Sell-By Date!</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 Is Past Its Sell-By Date!\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-12 23:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4533191-tesla-is-past-its-sell-by-date><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryElon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!To achieve that requires several more...</p>\n\n<a href=\"https://seekingalpha.com/article/4533191-tesla-is-past-its-sell-by-date\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4533191-tesla-is-past-its-sell-by-date","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157910275","content_text":"SummaryElon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!To achieve that requires several more huge factories to be built that are not yet past the initial planning stages nor even a decision made where they will be located!They will require vast sums of money as might many existing problems that remain unresolved with new ones still emerging.My share price target is around $100 by year-end. Some are more optimistic, with Citi giving Tesla a sell-rated forecast of $375 → $424. JP Morgan suggests $385. The price, as I write, is $864.Some have suggested a price of $1580, which should frighten any cautious investor away.Those wing doors will not get that Tesla off the ground, and new action against Elon Musk's autopilot claims might even stop them being driven manually by man - including Musk - in some places. An earlier action against Musk by the SEC resulted in him giving up his driving position as both Chairman and CEO.In my first article on Tesla, Inc. (NASDAQ:TSLA) on 16 November, 2021, titled Tesla's Ticking Time Bomb, I strongly advised selling Tesla. The price then was $1,054.73, so it is down 18%, somewhat more than the S&P500's 12% decline. On the first of that same month, the price was $1,209.TSLA hit a low of $626 on 24 May, 2022, suggesting many are having doubts, with the recent bounce perhaps being caused by believers in that sky-high $1580 forecast. To those I would recommend they check the past and see that the price had never gone above $100 until the beginning of last year, the price level I believe it will return to. It is down 27% YTD en route to that price.This shall probably be my last article on Tesla, as I prefer to write on companies that will gain from world developments, and those do not benefit Tesla in the way they did in the past. That should have a significant negative effect on Tesla's future performance in both the car and stock markets, and I hope this article will be of value to those holding or considering buying into Tesla now. I would emphasize here that I am not a short seller or a trader. Tesla may well suit those that are, but it does not suit me. I am an investor and I write with only that in mind.I will first touch on Tesla the car (and solar panel) maker and expand on the challenges it faces later.Tesla The Car MakerTesla was founded by a visionary named Elon Musk. He saw an opportunity in electric cars, EVs, when other carmakers - and especially the U.S. and German manufacturers - were mostly focused on traditional internal combustion engines, ICEs.He gained an almost cult-like following among retail investors and used the resultant share price explosion to raise over $13 billion in four stock offerings. Car-making is a capital-intensive industry, and such low capital costs gave it an advantage to get off the ground and into the big league.Tesla also had good profit margins. Being a newcomer to car manufacturing, Tesla did not have legacy car maker problems such as restrictive unions and large company bureaucracies to add cost, plus EVs require many fewer components than ICEs. That makes Tesla's profit margins better - gross margins were 23% in fiscal 2020, compared with Ford's (F) 10%. That gap is closing. Tesla's superior margins over other carmakers are used by many believers to justify its high valuation, but - while they are good compared with many - they are not sufficiently better than the world's largest carmaker Toyota (TM,OTCPK:TOYOF) to do make the difference so extreme.Toyota's P/E is 10.9. Tesla's P/E is 103.77 - nearly 10 times Toyota's!Toyota's market cap $260bn. Tesla's $967bn - nearly 4 times Toyota's!The latest gross margin (\"GM\") figures show this:Tesla's GM: 28%. Net: 10.5%. Ops: 14.6%Toyota's GM: 18%. Net: 8.5%. Ops: 8%That GM gap will close when Toyota (and other ICE makers) build more EVs because of the hugely lower amount of materials needed to build EV motors than ICEs, so either TM's P/E should shoot up or TSLA's crash down.The latest results from Tesla's website were good, but the Gross Margin is declining.Source: Tesla.If more financial information is required, it can be found here onTesla's website.Cash and cash equivalents are good, but billions will be needed to build the additional giant factories required, as might the many existing problems that remain unresolved with new ones still emerging.I will now move on to those...Problems - Internal Self-InflictedThere are many self-inflicted problems, and many have yet to be resolved. The latest are claims by California's DMV that Tesla overstated its autopilot capabilities. ThisReutersarticle tells more about that. California is Tesla's largest U.S. market. The company sold 121,000 vehicles there in 2021, out of an estimated 352,000 sold nationwide. The DMV is seeking remedies that could include suspending Tesla's license to sell vehicles in California and requiring the company to make restitution to drivers.Wikipedia has this list of lawsuits against Tesla.I know of no other reputable company that has stirred up so much controversy. The \"autopilot\" - the word used by Elon Musk to describe Tesla's driver assistance technology - fatality case could prove to be fatal or near-fatal for the whole company. Autoblog tells us more on that.Currently, in a car accident in the U.S., the driver of one car sues the driver of the other car. It is only very seldom the car manufacturer is sued. For self-driving cars, however, things are likely to be different. There aren't other drivers to sue. There is just the car - and the company that made it. It won't take long for plaintiffs' lawyers to start filing big lawsuits, even class actions, against the car and technology companies that made the cars and designed the self-driving technology. And, as we have seen in other such situations, there could soon be billion-dollar judgments against Tesla.Recall and Warranty costs. In 2021, Tesla recalled 475,000 vehicles for safety issues in the U.S. alone. Barron's recently reported that, since January, 2022, Tesla has issued four recalls for almost 1.5 million vehicles worldwide, according to the National Highway Traffic Safety Administration. That's roughly four times the 360,000 cars that Tesla delivered in the U.S. in 2021, and a half-million more, at least, than the 936,000 delivered worldwide. Global deliveries rose about 87%, compared with 2020. Those problems have to be fixed free of charge, plus many other problems require fixing under warranty.They all require the vehicle to be returned to a dealer to be fixed. They are a nuisance for the owners and costly for Tesla shareholders.Musk's Antics. I borrowed the word antic from Al Jazeera's report headed \"Musk's antics turn Tesla owners, new buyers against it.\"Another antic was buying into solar panels. This is a U.S.-only market for Tesla. He got into solar by buying a troubled company founded by his cousins and on whose board he sat. That was paid for with Tesla shareholders' money and led to a failed lawsuit by them, according to this Business Insider report. Its policy has been to offer lowest price guarantees, which is suicidal in such a commodity product market sector and - to reduce costs in the U.S. further - President Biden has waived tariffs on solar panels imported from Cambodia, Malaysia, Thailand, and Vietnam. A CNET report also claims that \"Tesla is skimping on customer service.\"This activity will be a constant drain on Tesla profits until closed!Share sales. Musk's latest antic is to sell more Tesla shares purportedly to prepare any payment he may have to pay for his Twitter bid. One has to question why did he sell now if he has confidence the stock price will be higher when the outcome of that case against him is known?! This SA News report headed \"Elon Musk backtracks on stock pledge\" tells more, including \"he now owns just under 15% of Tesla.\" One day he may be a total high-price dropout!Musk's Aims. As a visionary, he has achieved near miracles to get Tesla where it is today. However, it will need another miracle in the near future if 20 million cars are to be made, and even aiming for them could put Tesla into reverse gear financially. At Tesla's recent Cyber Round Up in Austin, Texas, Musk said the company would \"end up building at least 10 or 12 Gigafactories.\" Those Gigafactories cost Gigabucks to build. They also require years to build, and he needs them soon if he is to make 20 million cars per year by2030. That means completion before the end of 2029 - just over 7 years away. None have been started, nor even have locations been announced!In the unlikely event Tesla achieved that number, it would require another miracle to sell that many cars, because gaining 16.4% of the entire world car market - including ICEs - is probably impossible for any car maker.GlobeNewswiremade the 2030 estimate of total car market size in 2030 of 122.83 million units that I used to calculate that market share percentage. It makes worthwhile reading.It also looks rather stupid ifS&P Global's estimate of 26.8 million EV sales by 2030 proves correct. That would mean Tesla has to achieve 75% EV market share!Toyota is the world's largest carmaker and manufactures around 10 million cars per year. It has around 10% of the world market. It makes ICEs, hybrids, plug-in hybrids, battery EVs, and hydrogen cars. Tesla only makes battery EVs.It therefore takes a bit of a stretch of the imagination to see Tesla selling 20 million cars per year by 2030... if it can make them!Problems - ExternalLithium supplies. The Financial Times recently published this article headed \"Electric-car makers warned lithium supply crunch is set to last until 2030.\"Political and economic. The new Inflation Reduction Act could have a perverse and unintended negative result for Tesla. The $7,500 electric vehicle tax credit will be renewed in January of 2023 and last until the end of 2032. A striking new requirement is that qualifying cars must be assembled in North America and that materials and critical minerals in the battery must come from the U.S. or a country with a free trade agreement with the U.S. That means some electric vehicles sold in the U.S. will be ineligible as soon as the bill takes effect. Chinese battery maker Contemporary Amperex Technology Co., Limited (\"CATL\"), who make some batteries for Tesla, has dropped plans to make them in the U.S.Political backlashes. Elon Musk has probably made some enemies at the political topin Californiadue to his personal move, and Tesla's HQ, from there to Texas. They may encourage a harsh judgement in DMV's autopilot case against Tesla that I mentioned above.Tesla may yet face other challenges due to his behavior in Germany. That country is full of bureaucracies, some of which wanted to prevent the car and battery factory near Berlin from being built in the first place. Also, local residents and environmentalists - including Green party politicians - did not want their environmentally and visually valuable forest torn down, as this report shows. Elon Musk apparently barged through those bureaucratic regulations and local and environmental objections and started building without proper approvals. The battery factory has still not been started. Their unanswered environmental problems remain. This CNBC article tells more.The UK is in or near recession, as are several EU continues. They include important German, UK, French, and Italian car makers, all of which have poured billions into making EVs.That brings me to another major problem for Tesla...Competition-Loss of a previously exclusive big Tesla buyer. EV subscription company Autonomy has placed an order for 23,000 EVs with 17 global automakers to expand and diversify its subscription fleet beyond just Tesla vehicles. Autonomy currently has 1,000 cars, all of which are Tesla models. The fleet order valued at $1.2B includes EVs from BMW (OTCPK:BMWYY), Canoo (GOEV), Fisker (FSR), Ford (F), General Motors (GM), Hyundai (OTCPK:HYMTF), Lucid Group (LCID), Mercedes-Benz (OTCPK:DDAIF), Polestar (PSNY), Rivian (RIVN), Stellantis (STLA), Subaru (OTCPK:FUJHY), Tesla (TSLA), Toyota Motor, VinFast, Volvo Car (OTCPK:VLVOF), and Volkswagen (OTCPK:VLKAF).-Others lead the autopilot race. Tesla's autopilot faces costly attacks and is anyway losing the race to others, as this chart showsinverse.comWaymo leads with Baidu not far behind...-Chinese tech giant, Baidu(BIDU) has securedthe first permits in China to offer commercial fully driverless robotaxi services to the public on open roads.Wei Dong, vice president and chief safety operation officer of Baidu's Intelligent Driving Group, said in a statement:\"We believe these permits are a key milestone on the path to the inflection point when the industry can finally roll out fully autonomous driving services at scale.\"Baidu will sell its technology to other car makers helping those leapfrog over Tesla.It will also make cars having unveiled the Apollo RT6 - photo above - an EV ready for production with aninitial starting price of $37,000. Jidu Auto, which is a joint venture between Baidu and Geely Automobile Holdings (OTCPK:GELYY) is looking at raising between $300M and $400M as it seeks to launch its first commercial vehicle in 2023.- Apple (AAPL) may have this fully autonomous EVon the road by 2025. Rumors suggest it will be made by Hyundai. If so, maybe their worldwide dealer network will sell and service it.Apple reportedly poacheda top executive from Italian luxury carmaker Lamborghini for its car project.- China's BYD (OTCPK:BYDDF,OTCPK:BYDDY) sold 641,350 EVs in the first six months of 2022, representing a 315% increase from the same period last year. Tesla, on the other hand, delivered a total of 564,743 vehicles in H1.- Century-old car makers are determined to be around for another century! Every major maker is spending billions on EVs. A JV between Stellantis (STLA) and Samsung (OTCPK:SSNLF) is building a $2.5 billion battery factory in Indiana. General Motors is spending $7bn to convert an existing factory to make EVs. That shows another advantage traditional car makers have overTesla.It costs less to convert an existing plant to make EVs than to build a new one from scratch, plus they have an established workforce and customer base.A report on SA tells us that GM's all-electric Hummer draws rave review from Barron's.Ford is spending $11 billion on plants in Tennessee and Kentucky, and plans to build 600,000 EVs by the end of next year.European companies are likewise spending huge sums at home and in the U.S. to build EVs and battery factories.Putting all those above points into one big picture and I conclude that...Tesla Is Beyond Its Sell-By DateI mentioned Elon Musk's sales above. He is not the only insider to have been selling; Robyn Denholm - Chairman of the Board - was a huge seller in May and June this year. From the Financial Times, the last time I could find news of insiders buying - including a tiny buy by Elon Musk - was in February 2020:Source: Financial TimesIf Insiders are big sellers - and none buy - why should outsiders do otherwise?!","news_type":1},"isVote":1,"tweetType":1,"viewCount":715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9903270071,"gmtCreate":1659050148094,"gmtModify":1676536248335,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9903270071","repostId":"2255309371","repostType":4,"repost":{"id":"2255309371","kind":"news","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":1659047924,"share":"https://ttm.financial/m/news/2255309371?lang=&edition=fundamental","pubTime":"2022-07-29 06:38","market":"us","language":"en","title":"Apple Forecasts Faster Sales Growth, Strong IPhone Demand Despite Glum Economy","url":"https://stock-news.laohu8.com/highlight/detail?id=2255309371","media":"Reuters","summary":"July 28 (Reuters) - Apple Incon Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations a","content":"<html><head></head><body><p>July 28 (Reuters) - Apple Inc on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations and forecast faster sales growth ahead.</p><p>The Silicon Valley giant&#39;s shares rose 3.5% after hours following the release of the results. Apple said it was not providing specific revenue guidance due to economic uncertainty.</p><p><img src=\"https://static.tigerbbs.com/957bf23c71c3987a2ad6bcd6a5c1b224\" tg-width=\"854\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>Though macroeconomic indicators around the world are turning negative, Chief Financial Officer Luca Maestri told Reuters there had been no slowdown in demand for iPhones. The iPhone maker&#39;s loyal and relatively affluent customer base has enabled it to weather dips better than other consumer brands in the past, and the results for Apple&#39;s fiscal third quarter suggest a similar pattern emerging.</p><p>Canalys Research analyst Runar Bjorhovde said, &#34;Apple in that sense has a certain robustness that will allow it to be impacted less than a lot of its competitors.&#34;</p><p>The slumping economy is hurting sales of advertising, accessories and home products, though, Apple&#39;s Maestri said in an interview, calling the units &#34;pockets of weakness.&#34;</p><p>&#34;Fortunately, we have a very broad portfolio, so we know we&#39;re going to be able to navigate that,&#34; he added.</p><p>Parts shortages will continue to limit Mac and iPad sales, Maestri said, though the impact has been easing. They cost Apple under $4 billion in sales in the quarter ended June 25, less than it had forecast. Maestri said the company expects the hit to diminish further in the current quarter.</p><p>Sales compared to a year ago should rise faster in the current quarter than 2% growth it posted in the just-ended quarter, Maestri said.</p><p>Overall, Apple said quarterly sales and profit were $83.0 billion and $1.20 per share, above estimates of $82.8 billion and $1.16 per share, according to Refinitiv data.</p><p>While sales of iPhones and iPads topped expectations, revenue from services, Mac computers and accessories missed Wall Street targets and sales in the crucial China market fell 1%.</p><p>The rising U.S. dollar has hit many companies such as Apple that generate substantial foreign revenue and are getting less cash back when they convert it. Apple said currency fluctuations would slash sales by 6% in the current quarter.</p><p>The most recent economic woes include supply chain disruptions that have hit production of some Apple products such as iPads and Macs whose assembly locations were clustered near regions of China that went into COVID lockdowns.</p><p>Apple, like many of its tech industry peers, is reportedly slowing hiring and cutting costs given the tough economic climate.</p><p>Apple shares closed Thursday down about 11% so far this year, slightly less than the broader S&amp;P 500 index and also less than other consumer hardware makers such as Sonos Inc and Samsung Electronics Co.</p><p>Apple said iPhone sales were $40.7 billion, up about 3% from a year earlier and well ahead of the overall global smartphone market, which fell 9% during the just-ended quarter, according to Canalys data.</p><p>Growth in the company&#39;s services business, which has provided a boost to sales and profits in recent years, was 12%, below the previous year&#39;s 33% rate and resulting in $19.6 billion in revenue, below estimates of $19.7 billion.</p><p>Apple said it now has 860 million paying subscribers on either its paid services or to paid software in its App Store, up from the previous quarter&#39;s 825 million.</p><p>Sales of iPads and Macs were $7.2 billion and $7.4 billion, compared with estimates of $6.9 billion and $8.7 billion. Mac sales represented a 10% contraction, after record sales since 2020, first from a work-from-home boost and then from Apple&#39;s new proprietary processor chips.</p><p>In its most recent fiscal year, nearly a fifth of Apple&#39;s sales came from its Greater China region after two years of struggling sales there. But now Apple is confronting slow overall economic growth in China, where its fiscal third-quarter sales were $14.6 billion, down 1%.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Forecasts Faster Sales Growth, Strong IPhone Demand Despite Glum Economy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple Forecasts Faster Sales Growth, Strong IPhone Demand Despite Glum Economy\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\">2022-07-29 06:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>July 28 (Reuters) - Apple Inc on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations and forecast faster sales growth ahead.</p><p>The Silicon Valley giant&#39;s shares rose 3.5% after hours following the release of the results. Apple said it was not providing specific revenue guidance due to economic uncertainty.</p><p><img src=\"https://static.tigerbbs.com/957bf23c71c3987a2ad6bcd6a5c1b224\" tg-width=\"854\" tg-height=\"619\" referrerpolicy=\"no-referrer\"/></p><p>Though macroeconomic indicators around the world are turning negative, Chief Financial Officer Luca Maestri told Reuters there had been no slowdown in demand for iPhones. The iPhone maker&#39;s loyal and relatively affluent customer base has enabled it to weather dips better than other consumer brands in the past, and the results for Apple&#39;s fiscal third quarter suggest a similar pattern emerging.</p><p>Canalys Research analyst Runar Bjorhovde said, &#34;Apple in that sense has a certain robustness that will allow it to be impacted less than a lot of its competitors.&#34;</p><p>The slumping economy is hurting sales of advertising, accessories and home products, though, Apple&#39;s Maestri said in an interview, calling the units &#34;pockets of weakness.&#34;</p><p>&#34;Fortunately, we have a very broad portfolio, so we know we&#39;re going to be able to navigate that,&#34; he added.</p><p>Parts shortages will continue to limit Mac and iPad sales, Maestri said, though the impact has been easing. They cost Apple under $4 billion in sales in the quarter ended June 25, less than it had forecast. Maestri said the company expects the hit to diminish further in the current quarter.</p><p>Sales compared to a year ago should rise faster in the current quarter than 2% growth it posted in the just-ended quarter, Maestri said.</p><p>Overall, Apple said quarterly sales and profit were $83.0 billion and $1.20 per share, above estimates of $82.8 billion and $1.16 per share, according to Refinitiv data.</p><p>While sales of iPhones and iPads topped expectations, revenue from services, Mac computers and accessories missed Wall Street targets and sales in the crucial China market fell 1%.</p><p>The rising U.S. dollar has hit many companies such as Apple that generate substantial foreign revenue and are getting less cash back when they convert it. Apple said currency fluctuations would slash sales by 6% in the current quarter.</p><p>The most recent economic woes include supply chain disruptions that have hit production of some Apple products such as iPads and Macs whose assembly locations were clustered near regions of China that went into COVID lockdowns.</p><p>Apple, like many of its tech industry peers, is reportedly slowing hiring and cutting costs given the tough economic climate.</p><p>Apple shares closed Thursday down about 11% so far this year, slightly less than the broader S&amp;P 500 index and also less than other consumer hardware makers such as Sonos Inc and Samsung Electronics Co.</p><p>Apple said iPhone sales were $40.7 billion, up about 3% from a year earlier and well ahead of the overall global smartphone market, which fell 9% during the just-ended quarter, according to Canalys data.</p><p>Growth in the company&#39;s services business, which has provided a boost to sales and profits in recent years, was 12%, below the previous year&#39;s 33% rate and resulting in $19.6 billion in revenue, below estimates of $19.7 billion.</p><p>Apple said it now has 860 million paying subscribers on either its paid services or to paid software in its App Store, up from the previous quarter&#39;s 825 million.</p><p>Sales of iPads and Macs were $7.2 billion and $7.4 billion, compared with estimates of $6.9 billion and $8.7 billion. Mac sales represented a 10% contraction, after record sales since 2020, first from a work-from-home boost and then from Apple&#39;s new proprietary processor chips.</p><p>In its most recent fiscal year, nearly a fifth of Apple&#39;s sales came from its Greater China region after two years of struggling sales there. But now Apple is confronting slow overall economic growth in China, where its fiscal third-quarter sales were $14.6 billion, down 1%.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2255309371","content_text":"July 28 (Reuters) - Apple Inc on Thursday said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending, helping it top Wall Street expectations and forecast faster sales growth ahead.The Silicon Valley giant's shares rose 3.5% after hours following the release of the results. Apple said it was not providing specific revenue guidance due to economic uncertainty.Though macroeconomic indicators around the world are turning negative, Chief Financial Officer Luca Maestri told Reuters there had been no slowdown in demand for iPhones. The iPhone maker's loyal and relatively affluent customer base has enabled it to weather dips better than other consumer brands in the past, and the results for Apple's fiscal third quarter suggest a similar pattern emerging.Canalys Research analyst Runar Bjorhovde said, \"Apple in that sense has a certain robustness that will allow it to be impacted less than a lot of its competitors.\"The slumping economy is hurting sales of advertising, accessories and home products, though, Apple's Maestri said in an interview, calling the units \"pockets of weakness.\"\"Fortunately, we have a very broad portfolio, so we know we're going to be able to navigate that,\" he added.Parts shortages will continue to limit Mac and iPad sales, Maestri said, though the impact has been easing. They cost Apple under $4 billion in sales in the quarter ended June 25, less than it had forecast. Maestri said the company expects the hit to diminish further in the current quarter.Sales compared to a year ago should rise faster in the current quarter than 2% growth it posted in the just-ended quarter, Maestri said.Overall, Apple said quarterly sales and profit were $83.0 billion and $1.20 per share, above estimates of $82.8 billion and $1.16 per share, according to Refinitiv data.While sales of iPhones and iPads topped expectations, revenue from services, Mac computers and accessories missed Wall Street targets and sales in the crucial China market fell 1%.The rising U.S. dollar has hit many companies such as Apple that generate substantial foreign revenue and are getting less cash back when they convert it. Apple said currency fluctuations would slash sales by 6% in the current quarter.The most recent economic woes include supply chain disruptions that have hit production of some Apple products such as iPads and Macs whose assembly locations were clustered near regions of China that went into COVID lockdowns.Apple, like many of its tech industry peers, is reportedly slowing hiring and cutting costs given the tough economic climate.Apple shares closed Thursday down about 11% so far this year, slightly less than the broader S&P 500 index and also less than other consumer hardware makers such as Sonos Inc and Samsung Electronics Co.Apple said iPhone sales were $40.7 billion, up about 3% from a year earlier and well ahead of the overall global smartphone market, which fell 9% during the just-ended quarter, according to Canalys data.Growth in the company's services business, which has provided a boost to sales and profits in recent years, was 12%, below the previous year's 33% rate and resulting in $19.6 billion in revenue, below estimates of $19.7 billion.Apple said it now has 860 million paying subscribers on either its paid services or to paid software in its App Store, up from the previous quarter's 825 million.Sales of iPads and Macs were $7.2 billion and $7.4 billion, compared with estimates of $6.9 billion and $8.7 billion. Mac sales represented a 10% contraction, after record sales since 2020, first from a work-from-home boost and then from Apple's new proprietary processor chips.In its most recent fiscal year, nearly a fifth of Apple's sales came from its Greater China region after two years of struggling sales there. But now Apple is confronting slow overall economic growth in China, where its fiscal third-quarter sales were $14.6 billion, down 1%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9900773165,"gmtCreate":1658788762457,"gmtModify":1676536205475,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9900773165","repostId":"1184526054","repostType":4,"repost":{"id":"1184526054","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1658743606,"share":"https://ttm.financial/m/news/1184526054?lang=&edition=fundamental","pubTime":"2022-07-25 18:06","market":"us","language":"en","title":"Tesla, Uber, Philips And More: U.S. Stocks To Watch","url":"https://stock-news.laohu8.com/highlight/detail?id=1184526054","media":"Benzinga","summary":"With US stock futures trading slightly lower this morning on Monday ahead of earnings reports from several big companies, some of the stocks that may grab investor focus today are as follows:$Uber Technologies Inc$on Friday accepted responsibility for covering up a 2016 data breach that affected 57 million passengers and drivers, as part of a settlement with U.S. prosecutors to avoid criminal charges.$TeslaInc.$is trying to tap into public funding to build electric-vehicle chargers, as it moves ","content":"<html><head></head><body><p>With US stock futures trading slightly lower this morning on Monday ahead of earnings reports from several big companies, some of the stocks that may grab investor focus today are as follows:</p><ul><li><a href=\"https://laohu8.com/S/UBER\">Uber Technologies Inc</a> on Friday accepted responsibility for covering up a 2016 data breach that affected 57 million passengers and drivers, as part of a settlement with U.S. prosecutors to avoid criminal charges.</li><li><a href=\"https://laohu8.com/S/TSLA\">Tesla Inc.</a> is trying to tap into public funding to build electric-vehicle chargers, as it moves to open some of its U.S. Supercharger network to EVs made by other manufacturers.</li><li><a href=\"https://laohu8.com/S/PHG\">Royal Philips NV </a> on Monday reported a swing to a net loss for the second quarter, which it blamed on a number of issues including pandemic-related lockdowns, inflationary pressures and the Russia-Ukraine war.</li></ul><ul><li><a href=\"https://laohu8.com/S/FRD\">Friedman Industries</a> posted a Q4 loss of $1.11 per share, versus a year-ago profit of $1.50 per share. The company’s sales, however, climbed to $75.09 million from $49.21 million. Friedman Industries shares jumped 14.2% to $9.47 in the after-hours trading session.</li><li>Analysts expect <a href=\"https://laohu8.com/S/PKG\">Packaging Corporation of America</a> to report quarterly earnings at $2.85 per share on revenue of $2.14 billion after the closing bell. Packaging Corporation of America shares fell 0.2% to close at $141.60 on Friday.</li></ul></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, Uber, Philips And More: U.S. Stocks To Watch</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, Uber, Philips And More: U.S. Stocks To Watch\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2022-07-25 18:06</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>With US stock futures trading slightly lower this morning on Monday ahead of earnings reports from several big companies, some of the stocks that may grab investor focus today are as follows:</p><ul><li><a href=\"https://laohu8.com/S/UBER\">Uber Technologies Inc</a> on Friday accepted responsibility for covering up a 2016 data breach that affected 57 million passengers and drivers, as part of a settlement with U.S. prosecutors to avoid criminal charges.</li><li><a href=\"https://laohu8.com/S/TSLA\">Tesla Inc.</a> is trying to tap into public funding to build electric-vehicle chargers, as it moves to open some of its U.S. Supercharger network to EVs made by other manufacturers.</li><li><a href=\"https://laohu8.com/S/PHG\">Royal Philips NV </a> on Monday reported a swing to a net loss for the second quarter, which it blamed on a number of issues including pandemic-related lockdowns, inflationary pressures and the Russia-Ukraine war.</li></ul><ul><li><a href=\"https://laohu8.com/S/FRD\">Friedman Industries</a> posted a Q4 loss of $1.11 per share, versus a year-ago profit of $1.50 per share. The company’s sales, however, climbed to $75.09 million from $49.21 million. Friedman Industries shares jumped 14.2% to $9.47 in the after-hours trading session.</li><li>Analysts expect <a href=\"https://laohu8.com/S/PKG\">Packaging Corporation of America</a> to report quarterly earnings at $2.85 per share on revenue of $2.14 billion after the closing bell. Packaging Corporation of America shares fell 0.2% to close at $141.60 on Friday.</li></ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBER":"优步","PHG":"飞利浦","TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184526054","content_text":"With US stock futures trading slightly lower this morning on Monday ahead of earnings reports from several big companies, some of the stocks that may grab investor focus today are as follows:Uber Technologies Inc on Friday accepted responsibility for covering up a 2016 data breach that affected 57 million passengers and drivers, as part of a settlement with U.S. prosecutors to avoid criminal charges.Tesla Inc. is trying to tap into public funding to build electric-vehicle chargers, as it moves to open some of its U.S. Supercharger network to EVs made by other manufacturers.Royal Philips NV  on Monday reported a swing to a net loss for the second quarter, which it blamed on a number of issues including pandemic-related lockdowns, inflationary pressures and the Russia-Ukraine war.Friedman Industries posted a Q4 loss of $1.11 per share, versus a year-ago profit of $1.50 per share. The company’s sales, however, climbed to $75.09 million from $49.21 million. Friedman Industries shares jumped 14.2% to $9.47 in the after-hours trading session.Analysts expect Packaging Corporation of America to report quarterly earnings at $2.85 per share on revenue of $2.14 billion after the closing bell. Packaging Corporation of America shares fell 0.2% to close at $141.60 on Friday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9075623279,"gmtCreate":1658193130491,"gmtModify":1676536120074,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9075623279","repostId":"1199326350","repostType":4,"repost":{"id":"1199326350","kind":"news","pubTimestamp":1658191124,"share":"https://ttm.financial/m/news/1199326350?lang=&edition=fundamental","pubTime":"2022-07-19 08:38","market":"sg","language":"en","title":"Singapore Stocks to Watch: Keppel, First Reit, Sembcorp","url":"https://stock-news.laohu8.com/highlight/detail?id=1199326350","media":"The Business Times","summary":"THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 19):Keppel Data Centre Fund II (KDCF II) has entered into a strategic partnership with Heying —","content":"<html><head></head><body><p>THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 19):</p><p>Keppel Data Centre Fund II (KDCF II) has entered into a strategic partnership with Heying — a wholly-owned subsidiary of Tianjin Zhengxin Group — to jointly develop a greenfield data centre in Greater Beijing, China.</p><p>Unitholders of First Reit have raised a number of questions regarding the company’s divestment of Siloam Hospitals Surabaya. In a bourse filing on Monday (Jul 18), the real estate investment trust (Reit) posted a lengthy list of questions that it had received from its unitholders, including queries on the rationale of the divestment, the resultant distribution per unit (DPU) changes, as well as the plans of the Reit manager to turn around the group’s business and profitability.</p><p>Sembcorp Industries, on July 19, announced that its Myanmar subsidiary has not received any directive to halt repayment of its foreign loans. It adds that payments from its offtaker have also been promptly received.</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>Singapore Stocks to Watch: Keppel, First Reit, Sembcorp</title>\n<style 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}\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\">\nSingapore Stocks to Watch: Keppel, First Reit, Sembcorp\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-19 08:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/stocks/stocks-to-watch-keppel-first-reit-sembcorp><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 19):Keppel Data Centre Fund II (KDCF II) has entered into a strategic partnership with Heying —...</p>\n\n<a href=\"https://www.businesstimes.com.sg/stocks/stocks-to-watch-keppel-first-reit-sembcorp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AJBU.SI":"吉宝数据中心房地产信托","AW9U.SI":"先锋医疗产业信托"},"source_url":"https://www.businesstimes.com.sg/stocks/stocks-to-watch-keppel-first-reit-sembcorp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199326350","content_text":"THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 19):Keppel Data Centre Fund II (KDCF II) has entered into a strategic partnership with Heying — a wholly-owned subsidiary of Tianjin Zhengxin Group — to jointly develop a greenfield data centre in Greater Beijing, China.Unitholders of First Reit have raised a number of questions regarding the company’s divestment of Siloam Hospitals Surabaya. In a bourse filing on Monday (Jul 18), the real estate investment trust (Reit) posted a lengthy list of questions that it had received from its unitholders, including queries on the rationale of the divestment, the resultant distribution per unit (DPU) changes, as well as the plans of the Reit manager to turn around the group’s business and profitability.Sembcorp Industries, on July 19, announced that its Myanmar subsidiary has not received any directive to halt repayment of its foreign loans. It adds that payments from its offtaker have also been promptly received.","news_type":1},"isVote":1,"tweetType":1,"viewCount":606,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9076746749,"gmtCreate":1657926917781,"gmtModify":1676536081282,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9076746749","repostId":"2251650644","repostType":4,"repost":{"id":"2251650644","kind":"highlight","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":1657926064,"share":"https://ttm.financial/m/news/2251650644?lang=&edition=fundamental","pubTime":"2022-07-16 07:01","market":"us","language":"en","title":"US STOCKS-Wall St Ends Tumultuous Week with Strong Rally as Rate Hike Fears Wane","url":"https://stock-news.laohu8.com/highlight/detail?id=2251650644","media":"Reuters","summary":"* Banks have biggest percent gain in 18 months* Citigroup jumps after results* S&P, Dow end five-day losing streaks* Retail sales beats estimates* Indexes up: Dow 2.15%, S&P 1.92%, Nasdaq 1.79%U.S. st","content":"<html><head></head><body><p>* Banks have biggest percent gain in 18 months</p><p>* Citigroup jumps after results</p><p>* S&amp;P, Dow end five-day losing streaks</p><p>* Retail sales beats estimates</p><p>* Indexes up: Dow 2.15%, S&amp;P 1.92%, Nasdaq 1.79%</p><p>U.S. stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data and easing fears of a larger-than-expected interest rate hike by the Federal Reserve.</p><p>All three major U.S. stock indexes posted solid gains, with financials    leading the charge in the wake of Citigroup&#39;s    earnings beat. This reversed Thursday&#39;s sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley .</p><p>The S&amp;P 500 and the Dow both snapped five-day losing streaks, and all three indexes ended below last Friday&#39;s close.</p><p>&#34;We&#39;re still below the downward sloping trend line,&#34; said  Sam Stovall, chief investment strategist of CFRA Research in New York. &#34;One day does not a new trend make.&#34;</p><p>Consumer prices in June showed the highest annual growth rate since 1981, raising chances that the Fed could raise its key fed funds target rate by 100 basis points, steeper than the 75 basis point hike previously expected.</p><p>&#34;(Investors) would be unnerved by a 100 basis point rate hike, as it would imply that the Fed does not know what it is doing and is being controlled by the data,&#34; Stovall added.</p><p>Those fears were calmed by remarks from Fed officials on Thursday and Friday, which indicated an interest rate increase of 75 basis points is likely in the cards.</p><p>Economic data released on Friday surprised to the upside, with stronger-than-expected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.</p><p>&#34;Economic indicators are not consistent right now,&#34; said Tim Ghriskey, senior portfolio strategist Ingalls &amp; Snyder in New York. &#34;They are positive and negative, which shows we&#39;re in a period of transition.</p><p>The Dow Jones Industrial Average    rose 658.09 points, or 2.15%, to 31,288.26, the S&amp;P 500    gained 72.78 points, or 1.92%, at 3,863.16 and the Nasdaq Composite    added 201.24 points, or 1.79%, at 11,452.42.</p><p>All 11 major sectors of the S&amp;P 500 ended the session higher, with financial stocks easily nabbing the largest percentage gain of 3.5%.</p><p>Second-quarter earnings season is well underway, with 35 of the companies in the S&amp;P 500 having reported. Of those, 80% have beaten Street expectations, according to Refinitiv.</p><p>Analysts now expect aggregate year-on-year S&amp;P 500 second-quarter profit growth of 5.6%, down from the 6.8% estimate at the beginning of the quarter.</p><p>Citigroup bucked the trend among big bank earnings reports as its quarterly profit beat expectations, sending the stock up 13.2%.</p><p>Wells Fargo &amp; Co    said its quarterly profit nearly halved due to increased loan loss provisions and a weak mortgage business. Still, its shares gained 6.2%.</p><p>The S&amp;P Banking index jumped 5.8%, its biggest <a href=\"https://laohu8.com/S/AONE.U\">one</a>-day percentage surge since January 2020.</p><p>Unitedhealth Group Inc    advanced 5.4% after the healthcare company raised its annual profit forecast for the second straight quarter.</p><p>BlackRock Inc  rose 2.0% even after the world&#39;s largest asset manager posted a steeper-than-expected profit drop.</p><p>Market participants are looking to next week&#39;s full ledger of scheduled earnings releases, from Goldman Sachs Group Inc, Bank of America Corp, International Business Corp, Netflix Inc   , Tesla Inc   , <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> Inc    and assorted heavy-hitting industrials.</p><p>Advancing issues outnumbered decliners on the NYSE by a 4.53-to-1 ratio; on Nasdaq, a 2.36-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted one new 52-week high and 31 new lows; the Nasdaq Composite recorded 37 new highs and 126 new lows.</p><p>Volume on U.S. exchanges was 10.26 billion shares, compared with the 12.31 billion average 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>US STOCKS-Wall St Ends Tumultuous Week with Strong Rally as Rate Hike Fears Wane</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall St Ends Tumultuous Week with Strong Rally as Rate Hike Fears Wane\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\">2022-07-16 07:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Banks have biggest percent gain in 18 months</p><p>* Citigroup jumps after results</p><p>* S&amp;P, Dow end five-day losing streaks</p><p>* Retail sales beats estimates</p><p>* Indexes up: Dow 2.15%, S&amp;P 1.92%, Nasdaq 1.79%</p><p>U.S. stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data and easing fears of a larger-than-expected interest rate hike by the Federal Reserve.</p><p>All three major U.S. stock indexes posted solid gains, with financials    leading the charge in the wake of Citigroup&#39;s    earnings beat. This reversed Thursday&#39;s sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley .</p><p>The S&amp;P 500 and the Dow both snapped five-day losing streaks, and all three indexes ended below last Friday&#39;s close.</p><p>&#34;We&#39;re still below the downward sloping trend line,&#34; said  Sam Stovall, chief investment strategist of CFRA Research in New York. &#34;One day does not a new trend make.&#34;</p><p>Consumer prices in June showed the highest annual growth rate since 1981, raising chances that the Fed could raise its key fed funds target rate by 100 basis points, steeper than the 75 basis point hike previously expected.</p><p>&#34;(Investors) would be unnerved by a 100 basis point rate hike, as it would imply that the Fed does not know what it is doing and is being controlled by the data,&#34; Stovall added.</p><p>Those fears were calmed by remarks from Fed officials on Thursday and Friday, which indicated an interest rate increase of 75 basis points is likely in the cards.</p><p>Economic data released on Friday surprised to the upside, with stronger-than-expected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.</p><p>&#34;Economic indicators are not consistent right now,&#34; said Tim Ghriskey, senior portfolio strategist Ingalls &amp; Snyder in New York. &#34;They are positive and negative, which shows we&#39;re in a period of transition.</p><p>The Dow Jones Industrial Average    rose 658.09 points, or 2.15%, to 31,288.26, the S&amp;P 500    gained 72.78 points, or 1.92%, at 3,863.16 and the Nasdaq Composite    added 201.24 points, or 1.79%, at 11,452.42.</p><p>All 11 major sectors of the S&amp;P 500 ended the session higher, with financial stocks easily nabbing the largest percentage gain of 3.5%.</p><p>Second-quarter earnings season is well underway, with 35 of the companies in the S&amp;P 500 having reported. Of those, 80% have beaten Street expectations, according to Refinitiv.</p><p>Analysts now expect aggregate year-on-year S&amp;P 500 second-quarter profit growth of 5.6%, down from the 6.8% estimate at the beginning of the quarter.</p><p>Citigroup bucked the trend among big bank earnings reports as its quarterly profit beat expectations, sending the stock up 13.2%.</p><p>Wells Fargo &amp; Co    said its quarterly profit nearly halved due to increased loan loss provisions and a weak mortgage business. Still, its shares gained 6.2%.</p><p>The S&amp;P Banking index jumped 5.8%, its biggest <a href=\"https://laohu8.com/S/AONE.U\">one</a>-day percentage surge since January 2020.</p><p>Unitedhealth Group Inc    advanced 5.4% after the healthcare company raised its annual profit forecast for the second straight quarter.</p><p>BlackRock Inc  rose 2.0% even after the world&#39;s largest asset manager posted a steeper-than-expected profit drop.</p><p>Market participants are looking to next week&#39;s full ledger of scheduled earnings releases, from Goldman Sachs Group Inc, Bank of America Corp, International Business Corp, Netflix Inc   , Tesla Inc   , <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> Inc    and assorted heavy-hitting industrials.</p><p>Advancing issues outnumbered decliners on the NYSE by a 4.53-to-1 ratio; on Nasdaq, a 2.36-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted one new 52-week high and 31 new lows; the Nasdaq Composite recorded 37 new highs and 126 new lows.</p><p>Volume on U.S. exchanges was 10.26 billion shares, compared with the 12.31 billion average over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"513500":"标普500ETF","CGEM":"Cullinan Therapeutics","IVV":"标普500指数ETF","BK4581":"高盛持仓","SH":"标普500反向ETF","DOG":"道指反向ETF","BK4135":"资产管理与托管银行","PSQ":"纳指反向ETF","UNH":"联合健康","BLK":"贝莱德","QLD":"纳指两倍做多ETF","UDOW":"道指三倍做多ETF-ProShares","UPRO":"三倍做多标普500ETF","LHDX":"Lucira Health, Inc.","SSO":"两倍做多标普500ETF","BK4516":"特朗普概念","BK4532":"文艺复兴科技持仓","OEF":"标普100指数ETF-iShares","APR":"Apria, Inc.","SPXU":"三倍做空标普500ETF","C":"花旗","SQQQ":"纳指三倍做空ETF","NFLX":"奈飞","BK4534":"瑞士信贷持仓","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","SDOW":"道指三倍做空ETF-ProShares","BK4007":"制药","OEX":"标普100","BK4566":"资本集团","QQQ":"纳指100ETF","BK4196":"保健护理服务",".SPX":"S&P 500 Index","SDS":"两倍做空标普500ETF","BK4508":"社交媒体","DXD":"道指两倍做空ETF","BK4082":"医疗保健设备",".IXIC":"NASDAQ Composite","SANA":"Sana Biotechnology, Inc.","BK4535":"淡马锡持仓","BK4559":"巴菲特持仓","LABP":"Landos Biopharma, Inc.","BK4077":"互动媒体与服务","DDM":"道指两倍做多ETF","BK4550":"红杉资本持仓","BK4579":"人工智能","QID":"纳指两倍做空ETF","BK4154":"管理型保健护理","BK4207":"综合性银行"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2251650644","content_text":"* Banks have biggest percent gain in 18 months* Citigroup jumps after results* S&P, Dow end five-day losing streaks* Retail sales beats estimates* Indexes up: Dow 2.15%, S&P 1.92%, Nasdaq 1.79%U.S. stocks closed sharply higher on Friday, ending several days of sell-offs with a rebound fueled by upbeat earnings, strong economic data and easing fears of a larger-than-expected interest rate hike by the Federal Reserve.All three major U.S. stock indexes posted solid gains, with financials    leading the charge in the wake of Citigroup's    earnings beat. This reversed Thursday's sell-off driven by downbeat guidance from rivals JPMorgan Chase and Morgan Stanley .The S&P 500 and the Dow both snapped five-day losing streaks, and all three indexes ended below last Friday's close.\"We're still below the downward sloping trend line,\" said  Sam Stovall, chief investment strategist of CFRA Research in New York. \"One day does not a new trend make.\"Consumer prices in June showed the highest annual growth rate since 1981, raising chances that the Fed could raise its key fed funds target rate by 100 basis points, steeper than the 75 basis point hike previously expected.\"(Investors) would be unnerved by a 100 basis point rate hike, as it would imply that the Fed does not know what it is doing and is being controlled by the data,\" Stovall added.Those fears were calmed by remarks from Fed officials on Thursday and Friday, which indicated an interest rate increase of 75 basis points is likely in the cards.Economic data released on Friday surprised to the upside, with stronger-than-expected retail sales, an uptick in consumer sentiment, lower inflation expectations and cooling import prices.\"Economic indicators are not consistent right now,\" said Tim Ghriskey, senior portfolio strategist Ingalls & Snyder in New York. \"They are positive and negative, which shows we're in a period of transition.The Dow Jones Industrial Average    rose 658.09 points, or 2.15%, to 31,288.26, the S&P 500    gained 72.78 points, or 1.92%, at 3,863.16 and the Nasdaq Composite    added 201.24 points, or 1.79%, at 11,452.42.All 11 major sectors of the S&P 500 ended the session higher, with financial stocks easily nabbing the largest percentage gain of 3.5%.Second-quarter earnings season is well underway, with 35 of the companies in the S&P 500 having reported. Of those, 80% have beaten Street expectations, according to Refinitiv.Analysts now expect aggregate year-on-year S&P 500 second-quarter profit growth of 5.6%, down from the 6.8% estimate at the beginning of the quarter.Citigroup bucked the trend among big bank earnings reports as its quarterly profit beat expectations, sending the stock up 13.2%.Wells Fargo & Co    said its quarterly profit nearly halved due to increased loan loss provisions and a weak mortgage business. Still, its shares gained 6.2%.The S&P Banking index jumped 5.8%, its biggest one-day percentage surge since January 2020.Unitedhealth Group Inc    advanced 5.4% after the healthcare company raised its annual profit forecast for the second straight quarter.BlackRock Inc  rose 2.0% even after the world's largest asset manager posted a steeper-than-expected profit drop.Market participants are looking to next week's full ledger of scheduled earnings releases, from Goldman Sachs Group Inc, Bank of America Corp, International Business Corp, Netflix Inc   , Tesla Inc   , Twitter Inc    and assorted heavy-hitting industrials.Advancing issues outnumbered decliners on the NYSE by a 4.53-to-1 ratio; on Nasdaq, a 2.36-to-1 ratio favored advancers.The S&P 500 posted one new 52-week high and 31 new lows; the Nasdaq Composite recorded 37 new highs and 126 new lows.Volume on U.S. exchanges was 10.26 billion shares, compared with the 12.31 billion average over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9079433051,"gmtCreate":1657235572873,"gmtModify":1676535973609,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9079433051","repostId":"1120813585","repostType":4,"repost":{"id":"1120813585","kind":"news","pubTimestamp":1657208514,"share":"https://ttm.financial/m/news/1120813585?lang=&edition=fundamental","pubTime":"2022-07-07 23:41","market":"us","language":"en","title":"Tesla Can Take 1 Easy Step to Create Billions in Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1120813585","media":"Barrons","summary":"Tesla, for bulls, is more than just a car company: It also sells solar roofs and battery-storage products. It has its self-driving software too. Tesla also operates the largest electric-vehicle fast c","content":"<html><head></head><body><p>Tesla, for bulls, is more than just a car company: It also sells solar roofs and battery-storage products. It has its self-driving software too. Tesla also operates the largest electric-vehicle fast charging network in the U.S.</p><p><a href=\"https://laohu8.com/S/TSLA\">Tesla</a> sells EVs and the juice that powers them. It’s a little like if General Motors (GM) owned gas stations, too.</p><p>Tesla’s network has value for the company. And Goldman Sachs analyst Mark Delaney wonders if Tesla should start monetizing the charging network now, by opening it up to non-Tesla EVs.</p><p>Opening up the network could add roughly $1 billion to $3 billion annually, according to Delaney, while adding up to 75 cents to annual per-share earnings a couple of years down the road.</p><p>At Tesla’s current price-to-earnings ratio on estimated 2023 earnings, 75 cents of additional EPS adds $32 to the stock. That’s about 5% of today’s Tesla’s current stock price and is only a rough guide to the potential boost charging offers. Delaney doesn’t quantify the stock value, but runs through potential revenue scenarios in his report.</p><p>Fast charging refers to so-called level 3 DC chargers that can provide an EV with 50 or 100 miles of range in minutes. Tesla has roughly 1,700 stations active or about to be active in the U.S., according to its website. Those locations offer, very roughly, 14,000 plugs total.</p><p>There is one Tesla port for every 80 or 90 Tesla vehicles on U.S. roads, according to recent registration data. For the country, there is about one charging port for every 10 electric vehicles on the roads. There are roughly 136,000 ports in the U.S., according to Energy Department data. The vast majority of them are slower chargers, which are like plugging an EV into a 240-volt outlet.</p><p>There are about 25,000 fast charging ports, giving Tesla more than 50% market share.</p><p>(In comparison, there are about 115,00 gas stations in the U.S. and, perhaps, 1.2 million pumps. That’s about one pump for every 200 vehicles on the road.)</p><p>Given the size and growth of Tesla’s charging network, opening it could yield a few benefits for Tesla, and its investors, according to Delaney. For one, it could boost overall adoption of EVs, he writes. It could also support Tesla’s market share—perhaps Tesla could give Tesla owners better pricing than other EVs utilizing its network.</p><p>Of course, more charging infrastructure makes it easier to sell non-Tesla EVs, Delaney adds. But an open network would generate more sales and cash flow for Tesla.</p><p>There are other cons to opening up, however, such as over-utilization of the network. Tesla owners probably don’t want to pull up for a charge and wait behind a line of non-Tesla EVs. That looks like a risk still down the road, though.</p><p>Tesla’s network is utilized about 5% to 10% on average during the day, “although higher at certain sites/peak times,” the analyst wrote in his June 29 report. “Therefore, we believe that in many locations Tesla would be able to open its charging network with high incremental [profit] margins.”</p><p>What’s more, Tesla plans to add a lot more chargers. “The network has doubled in the last 18 months, and we are planning to triple it over the next two years,” said senior vice president of powertrain and energy Andrew Baglino on the company’s third-quarter 2021 earnings conference call back in October. That could mean another 25,000 ports in the U.S., and many more globally, by 2024.</p><p>Delaney rates shares Buy and has a $1,000 price target for shares. That’s about $115 higher than the average analyst price target of almost $885 a share.</p><p>Tesla stock is down about 35% year to date. The S&amp;P 500 and Nasdaq Composite are down about 20% and 28%, respectively. Rising interest rates and inflation have investors thinking more about a recession than they are about potential from a new line of business.</p></body></html>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Can Take 1 Easy Step to Create Billions in Value</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 Can Take 1 Easy Step to Create Billions in Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-07 23:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-stock-ev-charging-network-51657137370?mod=hp_LEAD_4><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla, for bulls, is more than just a car company: It also sells solar roofs and battery-storage products. It has its self-driving software too. Tesla also operates the largest electric-vehicle fast ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-ev-charging-network-51657137370?mod=hp_LEAD_4\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-ev-charging-network-51657137370?mod=hp_LEAD_4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120813585","content_text":"Tesla, for bulls, is more than just a car company: It also sells solar roofs and battery-storage products. It has its self-driving software too. Tesla also operates the largest electric-vehicle fast charging network in the U.S.Tesla sells EVs and the juice that powers them. It’s a little like if General Motors (GM) owned gas stations, too.Tesla’s network has value for the company. And Goldman Sachs analyst Mark Delaney wonders if Tesla should start monetizing the charging network now, by opening it up to non-Tesla EVs.Opening up the network could add roughly $1 billion to $3 billion annually, according to Delaney, while adding up to 75 cents to annual per-share earnings a couple of years down the road.At Tesla’s current price-to-earnings ratio on estimated 2023 earnings, 75 cents of additional EPS adds $32 to the stock. That’s about 5% of today’s Tesla’s current stock price and is only a rough guide to the potential boost charging offers. Delaney doesn’t quantify the stock value, but runs through potential revenue scenarios in his report.Fast charging refers to so-called level 3 DC chargers that can provide an EV with 50 or 100 miles of range in minutes. Tesla has roughly 1,700 stations active or about to be active in the U.S., according to its website. Those locations offer, very roughly, 14,000 plugs total.There is one Tesla port for every 80 or 90 Tesla vehicles on U.S. roads, according to recent registration data. For the country, there is about one charging port for every 10 electric vehicles on the roads. There are roughly 136,000 ports in the U.S., according to Energy Department data. The vast majority of them are slower chargers, which are like plugging an EV into a 240-volt outlet.There are about 25,000 fast charging ports, giving Tesla more than 50% market share.(In comparison, there are about 115,00 gas stations in the U.S. and, perhaps, 1.2 million pumps. That’s about one pump for every 200 vehicles on the road.)Given the size and growth of Tesla’s charging network, opening it could yield a few benefits for Tesla, and its investors, according to Delaney. For one, it could boost overall adoption of EVs, he writes. It could also support Tesla’s market share—perhaps Tesla could give Tesla owners better pricing than other EVs utilizing its network.Of course, more charging infrastructure makes it easier to sell non-Tesla EVs, Delaney adds. But an open network would generate more sales and cash flow for Tesla.There are other cons to opening up, however, such as over-utilization of the network. Tesla owners probably don’t want to pull up for a charge and wait behind a line of non-Tesla EVs. That looks like a risk still down the road, though.Tesla’s network is utilized about 5% to 10% on average during the day, “although higher at certain sites/peak times,” the analyst wrote in his June 29 report. “Therefore, we believe that in many locations Tesla would be able to open its charging network with high incremental [profit] margins.”What’s more, Tesla plans to add a lot more chargers. “The network has doubled in the last 18 months, and we are planning to triple it over the next two years,” said senior vice president of powertrain and energy Andrew Baglino on the company’s third-quarter 2021 earnings conference call back in October. That could mean another 25,000 ports in the U.S., and many more globally, by 2024.Delaney rates shares Buy and has a $1,000 price target for shares. That’s about $115 higher than the average analyst price target of almost $885 a share.Tesla stock is down about 35% year to date. The S&P 500 and Nasdaq Composite are down about 20% and 28%, respectively. Rising interest rates and inflation have investors thinking more about a recession than they are about potential from a new line of business.","news_type":1},"isVote":1,"tweetType":1,"viewCount":391,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9047730039,"gmtCreate":1656977145721,"gmtModify":1676535923782,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9047730039","repostId":"2249349931","repostType":2,"repost":{"id":"2249349931","kind":"highlight","pubTimestamp":1656976592,"share":"https://ttm.financial/m/news/2249349931?lang=&edition=fundamental","pubTime":"2022-07-05 07:16","market":"us","language":"en","title":"3 Bold Predictions For The Second Half Of 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2249349931","media":"seekingalpha","summary":"\"When a man's neck's in danger, he doesn't stop to think too much about sentiment.\" ― Agatha ChristieThe first half of 2022 mercilessly ended last week. The S&P 500 was down approximately 20%, the worst opening six months for this index since 1970. The NASDAQ was off some 30% while the small cap Russell 2000 fell roughly 25%.Stocks crumbled throughout the first half of the year thanks to the highest inflation levels since the early 80s, record gas and diesel prices, horrid consumer sentiment and","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/8a47a2489ac8fb10531248d1ca8a9bbb\" tg-width=\"750\" tg-height=\"438\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><i>&#34;When a man&#39;s neck&#39;s in danger, he doesn&#39;t stop to think too much about sentiment.&#34;</i> ― Agatha Christie</p><p>The first half of 2022 mercilessly ended last week. The S&amp;P 500 was down approximately 20%, the worst opening six months for this index since 1970. The NASDAQ was off some 30% while the small cap Russell 2000 fell roughly 25%.</p><p>Stocks crumbled throughout the first half of the year thanks to the highest inflation levels since the early 80s, record gas and diesel prices, horrid consumer sentiment and rising interest rates. The war in Ukraine only added to those woes and this conflict is likely to drag on for at least the end of the year and no serious peace talks are currently ongoing.</p><p>So what will the second half of 2022 bring for battered investors? 3 predictions are highlighted below.</p><h2><b>Recessionary Fears Turn out to be Well Founded:</b></h2><p>The U.S. Administration and other government officials keep stating that a recession is not &#39;<i>inevitable</i>&#39;. Unfortunately, many of these same officials were articulating inflation was going to be &#39;<i>temporary</i>&#39; and &#39;<i>transitionary</i>&#39; as 2022 commenced as well. They look like they will be just as prescient this time around.</p><p>The fact is that for most consumers, the recession has already started. With wage growth running five to six percent annually and inflation running north of eight percent, the average consumer has lost buying power for 15 straight months. This has depleted savings as the average savings rate is now back under five percent, the lowest since 2008.</p><p>The lower and middle income rungs have been particularly stung by rising prices as a large chunk of this population commutes and/or rents. With rents up in the middle teens on average last year, gas up more than 50% and grocery prices rising by more than 10%; these consumers have been put in a vice.</p><p>They will likely be joined by the upper income strata in short order. The stock market evaporated $11 trillion worth of value in the first half of the year. This will lead to a negative &#39;<i>wealth effect</i>&#39;. Layoffs will also increase in the months ahead as the economy enters a recession. Consumer sentiment, which is already at historical lows, will fall further.</p><p></p><p><img src=\"https://static.tigerbbs.com/566df903920b4411af3d61ff0e278a91\" tg-width=\"650\" tg-height=\"507\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Blue Chip Economic Forecasts</p><p></p><p>With the consumer making up nearly 70% of the economy, it is easy to see why economic projections keep getting revised down. The Atlanta Fed&#39;s GDPNow just radically reduced its projection of second quarter GDP growth to a negative 2.1%. If this forecast is even close to correct, the nation is already in a technical recession after the negative 1.6% performance in the first quarter of this year, which the &#39;<i>experts</i>&#39; attributed to &#39;<i>temporary adjustments</i>&#39;. Sound familiar? Acknowledgement that the country is in recession will be a consistent theme this summer.</p><h2><b>Energy Sector Ends Its Outperformance:</b></h2><p>Energy was one of the few bright spots in the market during first half of the year. The Energy Select Sector SPDR <a href=\"https://laohu8.com/S/PSFF\">Pacer Swan SOS Fund of Funds ETF|ETF</a> (XLE) rose nearly 25% even as most of the rest of the equity universe was cratering. The sector benefited from soaring prices for crude oil and natural gas. This the partially driven by the war in Ukraine and western sanctions on Russian energy exports.</p><p>These policies, unfortunately but predictably, have not worked as designed. Russian is raking in record proceeds on the back of soaring energy prices and the Ruble is at multi-year highs and is currently the best performing currency in the world. Meanwhile, the western consumer has had to deal with record gas prices. Europe is particularly vulnerable to any sort of natural gas flow stoppage as we get to winter.</p><p></p><p><img src=\"https://static.tigerbbs.com/2976a09866753015e98a5b484d528c01\" tg-width=\"640\" tg-height=\"333\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Seeking Alpha</p><p></p><p>There was piece on Seeking Alpha this weekend stating how JP Morgan thought oil could soar to as high as $380 a barrel in a worse case scenario where Russia cut its output by five million barrels a day. However, historically the cure for high oil prices is high oil prices. Oil spiked to over $145 a barrel in 2008, before going into a massive free fall as the western economies went into a deep recession thanks to the financial crisis. With recession looming here and in Europe, energy prices seem destine to go lower by the end of 2022. This is already starting to be reflected in the steep sell-off in the energy sector over the past couple of weeks. I look for the energy sector to underperform the overall market in the second half of 2022.</p><h2><b>Healthcare Sector Will Be A Winner:</b></h2><p>Investors are already gravitating to the &#39;<i>defensive</i>&#39; sectors of the market as economic activity continue to decline. One of these is the healthcare sector whose revenues will hold up much better than most industries in a recession scenario.</p><p>Recession or no recession, people still need to get their prescriptions filled, undergo chemo treatments and have necessary surgeries. I have recently established covered call positions on big drug names like Merck (MRK), Gilead Sciences (GILD) and Pfizer (PFE) as I build up exposure to this part of the market. All three names are reasonably valued, pay nice dividends and have liquid options available against their equities.</p><p></p><p><img src=\"https://static.tigerbbs.com/d9cc60a32065d31454acfa3ff49dc13c\" tg-width=\"640\" tg-height=\"333\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Seeking Alpha</p><p></p><p>Biotech also appears to have bottomed recently after an approximate 60% decline since the beginning of 2021. With hundreds of small biotech names selling at or near the net cash on their balance sheets, it was hard for the sector to go even lower. There was also long term technical support developing. Given valuations and the large cash hoards at Big Pharma, I would expect M&amp;A activity to pick up in the second half of this year as well.</p><p>I don&#39;t think the second half of 2022 will be nearly as bad as the first half for investors. Barring a deep recession and/or a major escalation in the Ukraine War, of course That said, I don&#39;t believe the markets have hit bottom yet either. Falling economic activity and soaring input prices will have a significantly negative impact on profit margins. I expect second quarter earnings season to be one where guidance gets lowered across most sectors of the market as well as reflected in downwardly revised profit projections by analyst firms.</p><p>Therefore, my cash allocation is near 25% and I continue to use simple covered call strategies across the majority of the holdings in my portfolio for additional downside risk mitigation.</p><p>And those are some thoughts as trading gets underway in the second half of what has been a brutal year for investors to this point.</p><blockquote><i>&#34;Any order is a balancing act of extreme precariousness.&#34;</i> ― Walter Benjamin</blockquote></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Bold Predictions For The Second Half Of 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\">\n3 Bold Predictions For The Second Half Of 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-05 07:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521666-bold-predictions-second-half-2022><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"When a man's neck's in danger, he doesn't stop to think too much about sentiment.\" ― Agatha ChristieThe first half of 2022 mercilessly ended last week. The S&P 500 was down approximately 20%, the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521666-bold-predictions-second-half-2022\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","BK4566":"资本集团","XLE":"SPDR能源指数ETF","BK4532":"文艺复兴科技持仓","BK4578":"CAR-T","MRK":"默沙东","GILD":"吉利德科学","BK4570":"地缘局势概念股","BK4007":"制药","BK4568":"美国抗疫概念","BK4559":"巴菲特持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4534":"瑞士信贷持仓","BK4583":"猴痘概念","BK4550":"红杉资本持仓","BK4581":"高盛持仓","BK4516":"特朗普概念","BK4139":"生物科技"},"source_url":"https://seekingalpha.com/article/4521666-bold-predictions-second-half-2022","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2249349931","content_text":"\"When a man's neck's in danger, he doesn't stop to think too much about sentiment.\" ― Agatha ChristieThe first half of 2022 mercilessly ended last week. The S&P 500 was down approximately 20%, the worst opening six months for this index since 1970. The NASDAQ was off some 30% while the small cap Russell 2000 fell roughly 25%.Stocks crumbled throughout the first half of the year thanks to the highest inflation levels since the early 80s, record gas and diesel prices, horrid consumer sentiment and rising interest rates. The war in Ukraine only added to those woes and this conflict is likely to drag on for at least the end of the year and no serious peace talks are currently ongoing.So what will the second half of 2022 bring for battered investors? 3 predictions are highlighted below.Recessionary Fears Turn out to be Well Founded:The U.S. Administration and other government officials keep stating that a recession is not 'inevitable'. Unfortunately, many of these same officials were articulating inflation was going to be 'temporary' and 'transitionary' as 2022 commenced as well. They look like they will be just as prescient this time around.The fact is that for most consumers, the recession has already started. With wage growth running five to six percent annually and inflation running north of eight percent, the average consumer has lost buying power for 15 straight months. This has depleted savings as the average savings rate is now back under five percent, the lowest since 2008.The lower and middle income rungs have been particularly stung by rising prices as a large chunk of this population commutes and/or rents. With rents up in the middle teens on average last year, gas up more than 50% and grocery prices rising by more than 10%; these consumers have been put in a vice.They will likely be joined by the upper income strata in short order. The stock market evaporated $11 trillion worth of value in the first half of the year. This will lead to a negative 'wealth effect'. Layoffs will also increase in the months ahead as the economy enters a recession. Consumer sentiment, which is already at historical lows, will fall further.Blue Chip Economic ForecastsWith the consumer making up nearly 70% of the economy, it is easy to see why economic projections keep getting revised down. The Atlanta Fed's GDPNow just radically reduced its projection of second quarter GDP growth to a negative 2.1%. If this forecast is even close to correct, the nation is already in a technical recession after the negative 1.6% performance in the first quarter of this year, which the 'experts' attributed to 'temporary adjustments'. Sound familiar? Acknowledgement that the country is in recession will be a consistent theme this summer.Energy Sector Ends Its Outperformance:Energy was one of the few bright spots in the market during first half of the year. The Energy Select Sector SPDR Pacer Swan SOS Fund of Funds ETF|ETF (XLE) rose nearly 25% even as most of the rest of the equity universe was cratering. The sector benefited from soaring prices for crude oil and natural gas. This the partially driven by the war in Ukraine and western sanctions on Russian energy exports.These policies, unfortunately but predictably, have not worked as designed. Russian is raking in record proceeds on the back of soaring energy prices and the Ruble is at multi-year highs and is currently the best performing currency in the world. Meanwhile, the western consumer has had to deal with record gas prices. Europe is particularly vulnerable to any sort of natural gas flow stoppage as we get to winter.Seeking AlphaThere was piece on Seeking Alpha this weekend stating how JP Morgan thought oil could soar to as high as $380 a barrel in a worse case scenario where Russia cut its output by five million barrels a day. However, historically the cure for high oil prices is high oil prices. Oil spiked to over $145 a barrel in 2008, before going into a massive free fall as the western economies went into a deep recession thanks to the financial crisis. With recession looming here and in Europe, energy prices seem destine to go lower by the end of 2022. This is already starting to be reflected in the steep sell-off in the energy sector over the past couple of weeks. I look for the energy sector to underperform the overall market in the second half of 2022.Healthcare Sector Will Be A Winner:Investors are already gravitating to the 'defensive' sectors of the market as economic activity continue to decline. One of these is the healthcare sector whose revenues will hold up much better than most industries in a recession scenario.Recession or no recession, people still need to get their prescriptions filled, undergo chemo treatments and have necessary surgeries. I have recently established covered call positions on big drug names like Merck (MRK), Gilead Sciences (GILD) and Pfizer (PFE) as I build up exposure to this part of the market. All three names are reasonably valued, pay nice dividends and have liquid options available against their equities.Seeking AlphaBiotech also appears to have bottomed recently after an approximate 60% decline since the beginning of 2021. With hundreds of small biotech names selling at or near the net cash on their balance sheets, it was hard for the sector to go even lower. There was also long term technical support developing. Given valuations and the large cash hoards at Big Pharma, I would expect M&A activity to pick up in the second half of this year as well.I don't think the second half of 2022 will be nearly as bad as the first half for investors. Barring a deep recession and/or a major escalation in the Ukraine War, of course That said, I don't believe the markets have hit bottom yet either. Falling economic activity and soaring input prices will have a significantly negative impact on profit margins. I expect second quarter earnings season to be one where guidance gets lowered across most sectors of the market as well as reflected in downwardly revised profit projections by analyst firms.Therefore, my cash allocation is near 25% and I continue to use simple covered call strategies across the majority of the holdings in my portfolio for additional downside risk mitigation.And those are some thoughts as trading gets underway in the second half of what has been a brutal year for investors to this point.\"Any order is a balancing act of extreme precariousness.\" ― Walter Benjamin","news_type":1},"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045267673,"gmtCreate":1656631058192,"gmtModify":1676535865167,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Weak]&nbsp;","listText":"[Weak]&nbsp;","text":"[Weak]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045267673","repostId":"1177701324","repostType":4,"repost":{"id":"1177701324","kind":"news","pubTimestamp":1656630497,"share":"https://ttm.financial/m/news/1177701324?lang=&edition=fundamental","pubTime":"2022-07-01 07:08","market":"us","language":"en","title":"Investors Lose $1.8 Trillion With Consumer Stocks Mired in Record Rout","url":"https://stock-news.laohu8.com/highlight/detail?id=1177701324","media":"Bloomberg","summary":"Consumer discretionary index suffers record first-half dropRare advancers in index this year have defensive qualitiesSource: Getty ImagesInvestors in consumer stocks are nursing their wounds after wit","content":"<html><head></head><body><ul><li>Consumer discretionary index suffers record first-half drop</li><li>Rare advancers in index this year have defensive qualities</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b3f28c96e1574cffe6b5de4b89d44eaf\" tg-width=\"1000\" tg-height=\"664\" width=\"100%\" height=\"auto\"/><span>Source: Getty Images</span></p><p>Investors in consumer stocks are nursing their wounds after witnessing a wipeout of $1.8 trillion in market value in the first half of the year as soaring inflation and swollen inventories crimp corporate profits.</p><p>The S&amp;P 500 Consumer Discretionary Index slumped 33% in its worst first half of the year on record in a market strained by rising costs and surging interest rates. The group is the biggest loser on the S&amp;P 500 Index as recession concerns weigh on shoppers’ spending decisions. Adding to that wall of worry, US consumer spendingfellin May for the first time this year, signaling a cooling economy that’s on weaker footing.</p><p>“As consumers continue to pull in their horns, I think that these stocks can go lower,” said Matt Maley, chief market strategist for Miller Tabak + Co.</p><p><img src=\"https://static.tigerbbs.com/4d1ed41cc97c8d6f70a60f6e1ec63a1b\" tg-width=\"963\" tg-height=\"536\" width=\"100%\" height=\"auto\"/></p><p>The rout this year was laid bare in the quarterly earnings season when companies from Walmart Inc. to Target Corp. cut their annual profitforecasts. This week, RH became the latest retailer totemperinvestors’ expectations for the year, while Bed Bath &amp; Beyond Inc. released a lackluster earnings report showing quarterly sales fell even more than anticipated.</p><p>Part of the problem is that stores are awash in products that consumers don’t want. At the same time, companies are grappling with surging fuel and labor expenses, and the challenge to pass on those costs to consumers.</p><p>Etsy Inc. is the biggest decliner in the consumer discretionary index so far in 2022, plunging 67% as the boost in online sales from the Covid-19 pandemic fades. Other top decliners include Bath &amp; Body Works Inc., Caesars Entertainment Inc. and Carnival Corp.</p><p><img src=\"https://static.tigerbbs.com/17ff02f9b7e09ef7035fc97fc96eb452\" tg-width=\"930\" tg-height=\"523\" width=\"100%\" height=\"auto\"/></p><p>The only stocks in the 58-member index that notched gains for the first half of the year are Dollar Tree Inc., Dollar General Corp. and AutoZone Inc. They are up about 11%, 4% and 3% this year, respectively.</p><p>The pair of deep-discount retailers reported stronger-than-expected quarterly results last month, with consumers beginning to trade down to less expensive products. Meanwhile, AutoZone has advanced as analysts from Morgan Stanley and Goldman Sachs Group Inc. upgraded their recommendations on the shares, touting the largely non-discretionary nature of auto-part sales.</p><p>Despite being the worst performing group on the S&amp;P 500, consumer discretionary stocks still aren’t cheap, trading at around 20 times projected earnings, while the benchmark has an earnings multiple of 16.</p><p>“The derating in consumer discretionary has been major, but I still don’t think it’s trading at a reasonable enough valuation to make it worth dipping your toe into that pool just yet,” Jonathan Mackay, Schroders investment strategist, said earlier this week.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors Lose $1.8 Trillion With Consumer Stocks Mired in Record Rout</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\">\nInvestors Lose $1.8 Trillion With Consumer Stocks Mired in Record Rout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-01 07:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-06-30/-1-8-trillion-lost-consumer-stocks-dogged-in-grim-first-half?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Consumer discretionary index suffers record first-half dropRare advancers in index this year have defensive qualitiesSource: Getty ImagesInvestors in consumer stocks are nursing their wounds after ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-06-30/-1-8-trillion-lost-consumer-stocks-dogged-in-grim-first-half?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CCL":"嘉年华邮轮",".IXIC":"NASDAQ Composite","CZR":"凯撒娱乐","RH":"Restoration Hardware Holdings","TGT":"塔吉特","ETSY":"Etsy, Inc.","BBWI":"Bath & Body Works Inc.","WMT":"沃尔玛",".SPX":"S&P 500 Index",".DJI":"道琼斯","BBBY":"3B家居"},"source_url":"https://www.bloomberg.com/news/articles/2022-06-30/-1-8-trillion-lost-consumer-stocks-dogged-in-grim-first-half?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177701324","content_text":"Consumer discretionary index suffers record first-half dropRare advancers in index this year have defensive qualitiesSource: Getty ImagesInvestors in consumer stocks are nursing their wounds after witnessing a wipeout of $1.8 trillion in market value in the first half of the year as soaring inflation and swollen inventories crimp corporate profits.The S&P 500 Consumer Discretionary Index slumped 33% in its worst first half of the year on record in a market strained by rising costs and surging interest rates. The group is the biggest loser on the S&P 500 Index as recession concerns weigh on shoppers’ spending decisions. Adding to that wall of worry, US consumer spendingfellin May for the first time this year, signaling a cooling economy that’s on weaker footing.“As consumers continue to pull in their horns, I think that these stocks can go lower,” said Matt Maley, chief market strategist for Miller Tabak + Co.The rout this year was laid bare in the quarterly earnings season when companies from Walmart Inc. to Target Corp. cut their annual profitforecasts. This week, RH became the latest retailer totemperinvestors’ expectations for the year, while Bed Bath & Beyond Inc. released a lackluster earnings report showing quarterly sales fell even more than anticipated.Part of the problem is that stores are awash in products that consumers don’t want. At the same time, companies are grappling with surging fuel and labor expenses, and the challenge to pass on those costs to consumers.Etsy Inc. is the biggest decliner in the consumer discretionary index so far in 2022, plunging 67% as the boost in online sales from the Covid-19 pandemic fades. Other top decliners include Bath & Body Works Inc., Caesars Entertainment Inc. and Carnival Corp.The only stocks in the 58-member index that notched gains for the first half of the year are Dollar Tree Inc., Dollar General Corp. and AutoZone Inc. They are up about 11%, 4% and 3% this year, respectively.The pair of deep-discount retailers reported stronger-than-expected quarterly results last month, with consumers beginning to trade down to less expensive products. Meanwhile, AutoZone has advanced as analysts from Morgan Stanley and Goldman Sachs Group Inc. upgraded their recommendations on the shares, touting the largely non-discretionary nature of auto-part sales.Despite being the worst performing group on the S&P 500, consumer discretionary stocks still aren’t cheap, trading at around 20 times projected earnings, while the benchmark has an earnings multiple of 16.“The derating in consumer discretionary has been major, but I still don’t think it’s trading at a reasonable enough valuation to make it worth dipping your toe into that pool just yet,” Jonathan Mackay, Schroders investment strategist, said earlier this week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":332,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045378161,"gmtCreate":1656569081753,"gmtModify":1676535855809,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045378161","repostId":"1121505043","repostType":4,"repost":{"id":"1121505043","kind":"news","pubTimestamp":1656561665,"share":"https://ttm.financial/m/news/1121505043?lang=&edition=fundamental","pubTime":"2022-06-30 12:01","market":"us","language":"en","title":"NIO: Questions And Challenges To The Grizzly Short-Seller Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1121505043","media":"seekingalpha","summary":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is f","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Short-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.</li><li>The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.</li><li>The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly&#39;s claims of financial manipulation at NIO.</li><li>However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO&#39;s BaaS operations.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/346379c1e5a1a4087e614ef0b8a18caa\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/><span>Drew Angerer/Getty Images News</span></p><p>Grizzly Research (&#34;Grizzly&#34;) has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.</p><p>While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.</p><p><b>Accounting Crash Course: NIO’s BaaS Revenue Recognition Method</b></p><p>Through publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.</p><p>In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.</p><p>Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.</p><p>Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b533b2a1e657134b3b33f231c2b11f74\" tg-width=\"640\" tg-height=\"292\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Related Party Disclosures (IAS)</span></p><p>Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d726db76c4884663e28c157208e5cd77\" tg-width=\"640\" tg-height=\"150\" referrerpolicy=\"no-referrer\"/><span>NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)</span></p><p>In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4bf30456c1ff78b902edfa34d719f150\" tg-width=\"598\" tg-height=\"175\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p>This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.</p><p>Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.</p><p><b>Grizzly’s Core Short Thesis</b></p><p>Grizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).</p><p>In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.</p><p>In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:</p><p><b>Opportunity:</b>As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.</p><p>The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.</p><p><b>Incentive:</b>Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.</p><p>Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.</p><p><b>Rationalization:</b>The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.</p><p>NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.</p><p><b>Challenging Grizzly’s Conclusion on “Control” Established by NIO Over Weineng</b></p><p>In addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.</p><p>First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.</p><p>Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/505c64f7bc18c02131dd830e5f2a5462\" tg-width=\"640\" tg-height=\"260\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Investments in Associates and Joint Ventures (IAS)</span></p><p>Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:</p><p>1. “<b>Power</b>” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.</p><p>2. Exposure to<i>variable returns</i>from the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.</p><p>As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.</p><p>Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established in<i>Internal Control – Integrated Framework</i>(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.</p><p>3. The acquiring party is a<i>principal</i>in the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:</p><ul><li>Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.</li><li>The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.</li><li>In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section<i>(r) Revenue recognition</i>in the 2021 20F.</li><li>As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.</li></ul><p><b>Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit Inflation</b></p><p>Grizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:</p><p><b>1. Frontloaded Revenue via Battery Sales to Weineng</b></p><p><b>Grizzly’s accusation.</b>As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.</p><p>Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.</p><p>Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21e7d58b24ac2bde6344b4206ef9be8e\" tg-width=\"592\" tg-height=\"395\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)</span></p><p>As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.</p><p>The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.</p><p>To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.</p><p><b>Issue with Grizzly’s claim.</b>In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.</p><p>While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).</p><p>When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.</p><p><b>Livy’s revised calculation of quantified impacts.</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/324a74d6eeeb60a4bd2da9251d4d6ed8\" tg-width=\"640\" tg-height=\"416\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Revenue and Income Variances Pertaining to NIO&#39;s Alleged Frontloading of BaaS Sales (Author)</span></p><p>The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.</p><p><b>2. Revenues from Oversupplied Batteries to Weineng</b></p><p><b>Grizzly’s accusation.</b>Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.</p><p>However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.</p><p>While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.</p><p><b>Livy’s response.</b>While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.</p><p>Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.</p><p>There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.</p><p><b>Grizzly’s calculation of quantified impacts.</b>In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2497da8272eec2b6020c07b7ee06b1f\" tg-width=\"580\" tg-height=\"420\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)</span></p><p>In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.</p><p>Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.</p><p>We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.</p><p><b>3. Shifting Depreciation Costs</b></p><p><b>Grizzly’s Accusations.</b>Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.</p><p>Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.</p><p>Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.</p><p><b>Issue with Grizzly’s claim.</b>There are two folds to this situation:</p><p><b>1. BaaS Business Model:</b>Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e89611dda7a7e83881997628fe7aae3\" tg-width=\"640\" tg-height=\"187\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p><b>2. Battery Sales Business Model:</b>in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.</p><p>As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.</p><p>If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/96f972c8d488406cd690b0672265e62b\" tg-width=\"576\" tg-height=\"498\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Total Revenue and Income Inflation (Grizzly Research)</span></p><p>As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.</p><p><b>Livy’s revised calculation of quantified impacts.</b>While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.</p><p>Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1ffe9833bb562f66e5365e077d7741d4\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/230a54833c34b3a9920a03524c28e960\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccf9a3a0482b46cee102e66d5137113f\" tg-width=\"640\" tg-height=\"220\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Revenue Overstatement (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c7ec5a61d7fd491aec81d9a48a92020\" tg-width=\"640\" tg-height=\"188\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatement in Net Income (Author)</span></p><p>Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (&lt; 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.</p><p><b>Final Thoughts</b></p><p>As discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).</p><p>While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.</p><p>At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.</p><p>This article was written by Livy Investment Research</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Questions And Challenges To The Grizzly Short-Seller Report</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\">\nNIO: Questions And Challenges To The Grizzly Short-Seller Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-30 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09866":"蔚来-SW","NIO":"蔚来","NIO.SI":"蔚来"},"source_url":"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121505043","content_text":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly's claims of financial manipulation at NIO.However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO's BaaS operations.Drew Angerer/Getty Images NewsGrizzly Research (\"Grizzly\") has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.Accounting Crash Course: NIO’s BaaS Revenue Recognition MethodThrough publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:GAAP Rules on Related Party Disclosures (IAS)Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:Journal Entries for Battery Sales Business Model (Author)In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:Journal Entries for BaaS Business Model (Author)This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.Grizzly’s Core Short ThesisGrizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:Opportunity:As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.Incentive:Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.Rationalization:The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.Challenging Grizzly’s Conclusion on “Control” Established by NIO Over WeinengIn addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:GAAP Rules on Investments in Associates and Joint Ventures (IAS)Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:1. “Power” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.2. Exposure tovariable returnsfrom the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established inInternal Control – Integrated Framework(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.3. The acquiring party is aprincipalin the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section(r) Revenue recognitionin the 2021 20F.As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit InflationGrizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:1. Frontloaded Revenue via Battery Sales to WeinengGrizzly’s accusation.As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.Grizzly’s calculation of quantified impacts.Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:Grizzly's Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.Issue with Grizzly’s claim.In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.Livy’s revised calculation of quantified impacts.Livy's Computation of Revenue and Income Variances Pertaining to NIO's Alleged Frontloading of BaaS Sales (Author)The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.2. Revenues from Oversupplied Batteries to WeinengGrizzly’s accusation.Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.Livy’s response.While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.Grizzly’s calculation of quantified impacts.In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:Grizzly's Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.3. Shifting Depreciation CostsGrizzly’s Accusations.Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.Issue with Grizzly’s claim.There are two folds to this situation:1. BaaS Business Model:Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:Journal Entries for BaaS Business Model (Author)2. Battery Sales Business Model:in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:Journal Entries for Battery Sales Business Model (Author)Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.Grizzly’s calculation of quantified impacts.Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:Grizzly's Computation of Total Revenue and Income Inflation (Grizzly Research)As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.Livy’s revised calculation of quantified impacts.While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:Livy's Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)Livy's Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)Livy's Computation of Alleged Revenue Overstatement (Author)Livy's Computation of Alleged Overstatement in Net Income (Author)Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (< 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.Final ThoughtsAs discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.This article was written by Livy Investment Research","news_type":1},"isVote":1,"tweetType":1,"viewCount":469,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9042175171,"gmtCreate":1656459238093,"gmtModify":1676535831394,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Oh no..&nbsp;","listText":"Oh no..&nbsp;","text":"Oh no..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9042175171","repostId":"2246133086","repostType":4,"repost":{"id":"2246133086","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1656426671,"share":"https://ttm.financial/m/news/2246133086?lang=&edition=fundamental","pubTime":"2022-06-28 22:31","market":"us","language":"en","title":"Cathie Wood Warns U.S. Is Already in a Recession","url":"https://stock-news.laohu8.com/highlight/detail?id=2246133086","media":"Dow Jones","summary":"Ark Invest CEO Cathie Wood admitted during a Tuesday interview with CNBC  that she had dramatically underestimated the severity of inflation -- before claiming that the U.S. economy is likely already ","content":"<html><head></head><body><p>Ark Invest CEO Cathie Wood admitted during a Tuesday interview with CNBC  that she had dramatically underestimated the severity of inflation -- before claiming that the U.S. economy is likely already in a recession.</p><p>Wood blamed supply-chain disruptions and geopolitical factors like the war in Ukraine for exacerbating inflationary pressures beyond what she had anticipated. She also said that a recession driven in part by mismanaged inventories had already begun.</p><p>&#34;We think we are in a recession,&#34; Wood said during a Tuesday interview with Andrew Ross Sorkin on CNBC.</p><p>The first reading on U.S. economic growth during the second quarter of 2022 will be released roughly <a href=\"https://laohu8.com/S/AONE.U\">one</a> month from now by the Bureau of Economic Analysis. While the Federal Reserve and most of the big U.S. investment banks don&#39;t anticipate a recession this year, the Atlanta Fed&#39;s GDPNow forecast shows U.S. economic growth collapsing to zero during the second quarter, following a negative reading for the first quarter, as MarketWatch reported.</p><p>&#34;We were wrong on one thing and that was inflation being as sustained as it has been...inflation has been a bigger problem but I think it has set us up for deflation,&#34; Wood said.</p><p>Wood explained that supply-chain issues had led to major retailers to mismanage their inventories, leading to a glut of certain finished goods, like furniture, that were in high demand during the pandemic. Even &#34;the best-managed companies in the world&#34; are having problems she said. She added that the surge in inventories seen over the past year has been larger than anything she has seen during her 45-year career.</p><p>&#34;We&#39;re talking about Walmart and Target...they have problems, and we think there will be a lot more problems,&#34; she said.</p><p>Read:Cathie Wood&#39;s ARK <a href=\"https://laohu8.com/S/PSFF\">Pacer Swan SOS Fund of Funds ETF|ETF</a>s are sinking with tech stocks -- and value investors will be hunting for the biggest bargains</p><p>Wood also pointed to the drop in consumer sentiment as measured by the University of Michigan&#39;s survey as another warning that a recession has already begun.</p><p>&#34;Consumer sentiment in the highest income groups is lower than in the lowest income groups,&#34; Wood said.</p><p>As MarketWatch reported last week, the closely watched gauge of consumer sentiment tumbled to 50 in its final reading for June, down from an initial reading of 50.2 earlier in the month, and well below May&#39;s level of 58.4. The final number is the lowest reading on record, going back to the late 1970s.</p><p>The ARK Innovation ETF (ARKK)has fallen more than 50% since the start of the year, but it has recorded more than $370 million of money flowing into the ETF over the past week (although nearly $1 billion has flowed out of the fund over the past year). The Innovation ETF traded flat in early trading on Tuesday at $44.86 per share.</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>Cathie Wood Warns U.S. Is Already in a Recession</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 Warns U.S. Is Already in a Recession\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-06-28 22:31</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Ark Invest CEO Cathie Wood admitted during a Tuesday interview with CNBC  that she had dramatically underestimated the severity of inflation -- before claiming that the U.S. economy is likely already in a recession.</p><p>Wood blamed supply-chain disruptions and geopolitical factors like the war in Ukraine for exacerbating inflationary pressures beyond what she had anticipated. She also said that a recession driven in part by mismanaged inventories had already begun.</p><p>&#34;We think we are in a recession,&#34; Wood said during a Tuesday interview with Andrew Ross Sorkin on CNBC.</p><p>The first reading on U.S. economic growth during the second quarter of 2022 will be released roughly <a href=\"https://laohu8.com/S/AONE.U\">one</a> month from now by the Bureau of Economic Analysis. While the Federal Reserve and most of the big U.S. investment banks don&#39;t anticipate a recession this year, the Atlanta Fed&#39;s GDPNow forecast shows U.S. economic growth collapsing to zero during the second quarter, following a negative reading for the first quarter, as MarketWatch reported.</p><p>&#34;We were wrong on one thing and that was inflation being as sustained as it has been...inflation has been a bigger problem but I think it has set us up for deflation,&#34; Wood said.</p><p>Wood explained that supply-chain issues had led to major retailers to mismanage their inventories, leading to a glut of certain finished goods, like furniture, that were in high demand during the pandemic. Even &#34;the best-managed companies in the world&#34; are having problems she said. She added that the surge in inventories seen over the past year has been larger than anything she has seen during her 45-year career.</p><p>&#34;We&#39;re talking about Walmart and Target...they have problems, and we think there will be a lot more problems,&#34; she said.</p><p>Read:Cathie Wood&#39;s ARK <a href=\"https://laohu8.com/S/PSFF\">Pacer Swan SOS Fund of Funds ETF|ETF</a>s are sinking with tech stocks -- and value investors will be hunting for the biggest bargains</p><p>Wood also pointed to the drop in consumer sentiment as measured by the University of Michigan&#39;s survey as another warning that a recession has already begun.</p><p>&#34;Consumer sentiment in the highest income groups is lower than in the lowest income groups,&#34; Wood said.</p><p>As MarketWatch reported last week, the closely watched gauge of consumer sentiment tumbled to 50 in its final reading for June, down from an initial reading of 50.2 earlier in the month, and well below May&#39;s level of 58.4. The final number is the lowest reading on record, going back to the late 1970s.</p><p>The ARK Innovation ETF (ARKK)has fallen more than 50% since the start of the year, but it has recorded more than $370 million of money flowing into the ETF over the past week (although nearly $1 billion has flowed out of the fund over the past year). The Innovation ETF traded flat in early trading on Tuesday at $44.86 per share.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ARKK":"ARK Innovation ETF","ARKQ":"ARK Autonomous Technology & Robotics ETF","ARKF":"ARK Fintech Innovation ETF","ARKW":"ARK Next Generation Internation ETF","ARKG":"ARK Genomic Revolution ETF"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2246133086","content_text":"Ark Invest CEO Cathie Wood admitted during a Tuesday interview with CNBC  that she had dramatically underestimated the severity of inflation -- before claiming that the U.S. economy is likely already in a recession.Wood blamed supply-chain disruptions and geopolitical factors like the war in Ukraine for exacerbating inflationary pressures beyond what she had anticipated. She also said that a recession driven in part by mismanaged inventories had already begun.\"We think we are in a recession,\" Wood said during a Tuesday interview with Andrew Ross Sorkin on CNBC.The first reading on U.S. economic growth during the second quarter of 2022 will be released roughly one month from now by the Bureau of Economic Analysis. While the Federal Reserve and most of the big U.S. investment banks don't anticipate a recession this year, the Atlanta Fed's GDPNow forecast shows U.S. economic growth collapsing to zero during the second quarter, following a negative reading for the first quarter, as MarketWatch reported.\"We were wrong on one thing and that was inflation being as sustained as it has been...inflation has been a bigger problem but I think it has set us up for deflation,\" Wood said.Wood explained that supply-chain issues had led to major retailers to mismanage their inventories, leading to a glut of certain finished goods, like furniture, that were in high demand during the pandemic. Even \"the best-managed companies in the world\" are having problems she said. She added that the surge in inventories seen over the past year has been larger than anything she has seen during her 45-year career.\"We're talking about Walmart and Target...they have problems, and we think there will be a lot more problems,\" she said.Read:Cathie Wood's ARK Pacer Swan SOS Fund of Funds ETF|ETFs are sinking with tech stocks -- and value investors will be hunting for the biggest bargainsWood also pointed to the drop in consumer sentiment as measured by the University of Michigan's survey as another warning that a recession has already begun.\"Consumer sentiment in the highest income groups is lower than in the lowest income groups,\" Wood said.As MarketWatch reported last week, the closely watched gauge of consumer sentiment tumbled to 50 in its final reading for June, down from an initial reading of 50.2 earlier in the month, and well below May's level of 58.4. The final number is the lowest reading on record, going back to the late 1970s.The ARK Innovation ETF (ARKK)has fallen more than 50% since the start of the year, but it has recorded more than $370 million of money flowing into the ETF over the past week (although nearly $1 billion has flowed out of the fund over the past year). The Innovation ETF traded flat in early trading on Tuesday at $44.86 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":318,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9046765492,"gmtCreate":1656388067716,"gmtModify":1676535820021,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046765492","repostId":"1112356093","repostType":4,"repost":{"id":"1112356093","kind":"news","pubTimestamp":1656382846,"share":"https://ttm.financial/m/news/1112356093?lang=&edition=fundamental","pubTime":"2022-06-28 10:20","market":"sg","language":"en","title":"3 Singapore REITs That Can Tide You Through a Recession","url":"https://stock-news.laohu8.com/highlight/detail?id=1112356093","media":"The Smart Investor","summary":"It’s a good idea to include a mix of growth anddividendstocks within your investment portfolio.Thegrowth stocksprovide the portfolio with long-term capital appreciation while the dividend ones provide","content":"<html><head></head><body><p>It’s a good idea to include a mix of growth and dividend stocks within your investment portfolio.</p><p>The growth stocks provide the portfolio with long-term capital appreciation while the dividend ones provide a steady stream of passive income.</p><p>When it comes to dividends, REITs are an asset class that pays out a flow of dependable distributions.</p><p>What’s more, owning strong, well-managed REITs means you can enjoy a peaceful night’s sleep even if the economy takes a sudden dip.</p><p>You should look out for REITs with favourable characteristics such as a strong sponsor, a good track record of increasing distributions, and with quality assets that can withstand downturns.</p><p>Here are three recession-resistant REITs you can add to your watchlist.</p><p><b>Frasers Centrepoint Trust (SGX: J69U)</b></p><p>Frasers Centrepoint Trust, or FCT, is a pure-play Singapore suburban retail REIT with nine retail malls in its portfolio.</p><p>Assets under management (AUM) stood at S$6.1 billion as of 31 March 2022 with around 2.3 million square feet of net lettable area.</p><p>Popular malls within FCT’s portfolio include Waterway Point in Punggol, Century Square in Tampines, and Causeway Point in Woodlands.</p><p>As FCT’s malls are located in suburban areas near the heartlands, they benefit from a steady flow of foot traffic.</p><p>54.5% of the REIT’s gross rental income is anchored by essential services that will not be adversely impacted by a recession.</p><p>The occupancy rate stood at 97.8% and the malls are also well-connected to public transport.</p><p>FCT also has a strong sponsor in <b>Frasers Property Limited</b>(SGX: TQ5) that can provide financial support during tough times if need be.</p><p>Shopper traffic has recovered to 73% of pre-COVID levels by April this year.</p><p>Tenant sales did even better, coming in at 12% above pre-pandemic levels, signalling that people are spending more despite fewer visits to the malls.</p><p>Distribution per unit (DPU) has also steadily risen through the years except for fiscal 2020 (FY2020) (ended 30 September 2020) due to the effects of the pandemic.</p><p>For FY2021, DPU has rebounded strongly to S$0.12085 from S$0.09042 the year before.</p><p>The first half of FY2022 saw DPU inch up 2.3% year on year from S$0.05996 a year ago to S0.06136.</p><p>Aggregate leverage stood at 33.3% as of 31 March 2022, suggesting there is sufficient debt headroom for further acquisitions to boost DPU.</p><p><b>Mapletree Industrial Trust (SGX: ME8U)</b></p><p>Mapletree Industrial Trust, or MIT, is an industrial REIT with 143 properties valued at S$8.8 billion as of 31 March 2022.</p><p>54% of the REIT’s AUM comprises data centres while the remainder is made up of business parks, flatted factories, and Hi-Tech buildings.</p><p>The REIT’s DPU has been on an upward climb since FY2012, not pausing even during the pandemic.</p><p>DPU for FY2022 (ended 31 March 2022) was 10% higher year on year, at S$0.138 versus S$0.1255 the year before.</p><p>The reason for this resilience is MIT’s acquisition of data centres in the US in FY2021 and FY2022.</p><p>Unitholders will be pleased to know that the industrial REIT also has a strong sponsor in Mapletree Investments Pte Ltd.</p><p>Leverage stood at 38.4% with a low cost of debt of 2.4%, opening MIT up for future yield-accretive acquisitions to boost DPU further.</p><p><b>Keppel DC REIT (SGX: AJBU)</b></p><p>Keppel DC REIT is a data centre REIT with a portfolio of 21 data centres across nine countries such as Singapore, the UK, Netherlands, Italy and Germany.</p><p>AUM stood at S$3.5 billion as of 31 March 2022.</p><p>DPU has been increasing without a pause since the REIT listed back in December 2014, with the most recent FY2021 (ended 31 December 2021) DPU at S$0.09851, up 7.4% year on year from FY2020’s S$0.0917.</p><p>It also helps that the REIT is anchored by a strong sponsor in <b>Keppel Corporation Limited</b>(SGX: BN4).</p><p>Keppel DC REIT continues to enjoy robust demand for data centres as worldwide spending on data centre IT hardware continued to rise.</p><p>Demand will be driven by increased digitalisation and the shift to cloud computing for numerous businesses.</p><p>The data centre REIT has also been actively acquiring.</p><p>2021 saw a total of four acquisitions by the REIT, and just this month, it announced the purchase of two data centres in Guangdong, China, for S$104 million.</p><p>Aggregate leverage stood at 36.1% as of 31 March 2022, with a low cost of debt of just 1.8%.</p><p>The REIT has ample opportunities to acquire more than S$2 billion worth of data centres from its sponsor’s pipeline.</p></body></html>","source":"lsy1602567310727","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Singapore REITs That Can Tide You Through a Recession</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Singapore REITs That Can Tide You Through a Recession\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-28 10:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://thesmartinvestor.com.sg/3-singapore-reits-that-can-tide-you-through-a-recession/><strong>The Smart Investor</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It’s a good idea to include a mix of growth and dividend stocks within your investment portfolio.The growth stocks provide the portfolio with long-term capital appreciation while the dividend ones ...</p>\n\n<a href=\"https://thesmartinvestor.com.sg/3-singapore-reits-that-can-tide-you-through-a-recession/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"J69U.SI":"星狮地产信托","ME8U.SI":"丰树工业信托"},"source_url":"https://thesmartinvestor.com.sg/3-singapore-reits-that-can-tide-you-through-a-recession/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112356093","content_text":"It’s a good idea to include a mix of growth and dividend stocks within your investment portfolio.The growth stocks provide the portfolio with long-term capital appreciation while the dividend ones provide a steady stream of passive income.When it comes to dividends, REITs are an asset class that pays out a flow of dependable distributions.What’s more, owning strong, well-managed REITs means you can enjoy a peaceful night’s sleep even if the economy takes a sudden dip.You should look out for REITs with favourable characteristics such as a strong sponsor, a good track record of increasing distributions, and with quality assets that can withstand downturns.Here are three recession-resistant REITs you can add to your watchlist.Frasers Centrepoint Trust (SGX: J69U)Frasers Centrepoint Trust, or FCT, is a pure-play Singapore suburban retail REIT with nine retail malls in its portfolio.Assets under management (AUM) stood at S$6.1 billion as of 31 March 2022 with around 2.3 million square feet of net lettable area.Popular malls within FCT’s portfolio include Waterway Point in Punggol, Century Square in Tampines, and Causeway Point in Woodlands.As FCT’s malls are located in suburban areas near the heartlands, they benefit from a steady flow of foot traffic.54.5% of the REIT’s gross rental income is anchored by essential services that will not be adversely impacted by a recession.The occupancy rate stood at 97.8% and the malls are also well-connected to public transport.FCT also has a strong sponsor in Frasers Property Limited(SGX: TQ5) that can provide financial support during tough times if need be.Shopper traffic has recovered to 73% of pre-COVID levels by April this year.Tenant sales did even better, coming in at 12% above pre-pandemic levels, signalling that people are spending more despite fewer visits to the malls.Distribution per unit (DPU) has also steadily risen through the years except for fiscal 2020 (FY2020) (ended 30 September 2020) due to the effects of the pandemic.For FY2021, DPU has rebounded strongly to S$0.12085 from S$0.09042 the year before.The first half of FY2022 saw DPU inch up 2.3% year on year from S$0.05996 a year ago to S0.06136.Aggregate leverage stood at 33.3% as of 31 March 2022, suggesting there is sufficient debt headroom for further acquisitions to boost DPU.Mapletree Industrial Trust (SGX: ME8U)Mapletree Industrial Trust, or MIT, is an industrial REIT with 143 properties valued at S$8.8 billion as of 31 March 2022.54% of the REIT’s AUM comprises data centres while the remainder is made up of business parks, flatted factories, and Hi-Tech buildings.The REIT’s DPU has been on an upward climb since FY2012, not pausing even during the pandemic.DPU for FY2022 (ended 31 March 2022) was 10% higher year on year, at S$0.138 versus S$0.1255 the year before.The reason for this resilience is MIT’s acquisition of data centres in the US in FY2021 and FY2022.Unitholders will be pleased to know that the industrial REIT also has a strong sponsor in Mapletree Investments Pte Ltd.Leverage stood at 38.4% with a low cost of debt of 2.4%, opening MIT up for future yield-accretive acquisitions to boost DPU further.Keppel DC REIT (SGX: AJBU)Keppel DC REIT is a data centre REIT with a portfolio of 21 data centres across nine countries such as Singapore, the UK, Netherlands, Italy and Germany.AUM stood at S$3.5 billion as of 31 March 2022.DPU has been increasing without a pause since the REIT listed back in December 2014, with the most recent FY2021 (ended 31 December 2021) DPU at S$0.09851, up 7.4% year on year from FY2020’s S$0.0917.It also helps that the REIT is anchored by a strong sponsor in Keppel Corporation Limited(SGX: BN4).Keppel DC REIT continues to enjoy robust demand for data centres as worldwide spending on data centre IT hardware continued to rise.Demand will be driven by increased digitalisation and the shift to cloud computing for numerous businesses.The data centre REIT has also been actively acquiring.2021 saw a total of four acquisitions by the REIT, and just this month, it announced the purchase of two data centres in Guangdong, China, for S$104 million.Aggregate leverage stood at 36.1% as of 31 March 2022, with a low cost of debt of just 1.8%.The REIT has ample opportunities to acquire more than S$2 billion worth of data centres from its sponsor’s pipeline.","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9046365112,"gmtCreate":1656298788636,"gmtModify":1676535801831,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Surprised]&nbsp;","listText":"[Surprised]&nbsp;","text":"[Surprised]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046365112","repostId":"1146702668","repostType":4,"repost":{"id":"1146702668","kind":"news","pubTimestamp":1656295267,"share":"https://ttm.financial/m/news/1146702668?lang=&edition=fundamental","pubTime":"2022-06-27 10:01","market":"us","language":"en","title":"AT&T, Verizon Raise Prices and Test Consumer Budgets","url":"https://stock-news.laohu8.com/highlight/detail?id=1146702668","media":"The Wall Street Journal","summary":"Wireless companies are boosting monthly fees and increasing the cost of mostly older cellphone plansCellphone carriers have spent billions to maintain their networks and to upgrade them to fifth-gener","content":"<html><head></head><body><p>Wireless companies are boosting monthly fees and increasing the cost of mostly older cellphone plans</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec3d83997489f815f3a0f2bc0a0e84db\" tg-width=\"860\" tg-height=\"573\" width=\"100%\" height=\"auto\"/><span>Cellphone carriers have spent billions to maintain their networks and to upgrade them to fifth-generation standards.</span></p><p>This summer will test whether Americans already absorbing surging costs for fuel and food can also shoulder the burden of costlier cellphone service.</p><p>Wireless companies have spent the past month boosting fees and raising the cost of some midrange wireless plans. Industry executives say that consumers already numbed to surging prices for other necessities might absorb slightly higher rates instead of switching providers or dropping service.</p><p>AT&amp;T Inc. starting in June, raised the cost of its older wireless plans by up to $6 for single lines and $12 for family plans, encouraging subscribers to adopt newer unlimited data plans.</p><p>Verizon Communications Inc. later matched AT&amp;T with a $6 or $12 monthly price increase on its metered-data plans. It also raised some monthly fees on consumer wireless plans by $1.35 and levied a monthly per-smartphone fee of up to $2.20 on many business plans.</p><p>Verizon consumer group chief Manon Brouillette said that consumers are worried about the economic environment but the cellphone carrier remained confident in its prices because its customers value its reliable network.</p><p>T-Mobile US Inc. has seized on its rivals’ price increases to burnish its lower-cost reputation, calling the decisions insensitive to overburdened consumers. Many T-Mobile rates are frozen anyway under a regulatory agreement tied to its 2020 takeover of Sprint Corp., though the company can still revise fees. The company in February raised monthly fees on some older plans by up to 31 cents.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f2e58aca54360cf8023fdf96c0505cae\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"/><span>AT&amp;T is among those wireless companies that raised the cost of older service plans in June.</span></p><p>T-Mobile said its fees will affect a smaller share of its customers. The company is meanwhile adding new perks to its most expensive consumer and business plans to convince customers to upgrade their service. New offerings include high-speed data service in more than 200 countries and free Wi-Fi on Alaska, American and Deltaflights.</p><p>“What we’re doing is dramatically different,” T-Mobile marketing chief Mike Katz said in a recent interview.</p><p>Verizon is so far the only wireless carrier to raise fees on a plan advertised today. Most other rate increases have hit cheaper plans no longer offered to new customers.</p><p>“We didn’t do a broad stroke across the entire customer base,” AT&amp;T Chief Operating OfficerJeff McElfreshsaid at a recent investor conference. “We looked at a cohort of customers that were on the oldest rate plans that didn’t have access to 5G or some of the best features and benefits.”</p><p>The top three U.S. carriers declined to detail how much the rate increases will benefit their revenue. Media and telecom research firm LightShed Partners estimates Verizon’s three price increases will add another $2.4 billion to Verizon’s annual revenue over time. It expects AT&amp;T and T-Mobile’s increases to add $700 million and $100 million, respectively, to annual revenue.</p><p>Cellphone carriers have reinvested their revenue into their networks, which cost billions of dollars each year to maintain and billions more to reach fifth-generation standards capable of serving high-speed internet to customers on the go. AT&amp;T and Verizon are also under pressure to boost revenue while still paying their investors a reliable dividend.</p><p>The price change dismayed Jim Polder, a retired law-enforcement officer from Lake Havasu City, Ariz., whose 97-year-old father learned of the $6 monthly increase by email.</p><p>“Financially, it’s not going to really bother him,” Mr. Polder said. “It’s really the principle of the thing. They want to add $6 for a network that’s already in place. The way gas is going, it will bother a lot of people who can’t afford the jump.”</p><p>Mr. Polder said his father doesn’t need a smartphone but will probably buy one to keep using Verizon, which will decommission its older 3G network later this year. He said neither he nor his father plan to pay for more expensive unlimited-data plans. T-Mobile is also shutting down its 3G networks this year. AT&amp;T started shutting down its 3G systems earlier this year.</p><p>Customers on older wireless plans have so far borne the brunt of this year’s rate increases. Telecom executives have avoided touching the advertised price of their top-tier mobile-phone plans to avoid losing their most profitable customers. Cheaper prepaid wireless plans from Verizon’s Tracfone, T-Mobile’s Metro and AT&amp;T’s Cricket brands have also kept their prices in check.</p><p>Higher prices for midrange wireless services could still prompt customers to pick a cheaper plan. They could also choose new cellphone plans that cable companies like Comcast Corp. bundle with their home internet services. But market analysts say higher prices aren’t likely to drive phone users to drop service altogether, even if they already have more than one line.</p><p>“This is the most important consumer product in people’s life,” saidWalt Piecyk, an analyst for LightShed Partners. “Beyond your basic utilities, like food and electricity, it’s the last bill you’re going to cut.”</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>AT&T, Verizon Raise Prices and Test Consumer Budgets</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\">\nAT&T, Verizon Raise Prices and Test Consumer Budgets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-27 10:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/at-t-verizon-raise-prices-and-test-consumer-budgets-11656156781?mod=hp_lista_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Wireless companies are boosting monthly fees and increasing the cost of mostly older cellphone plansCellphone carriers have spent billions to maintain their networks and to upgrade them to fifth-...</p>\n\n<a href=\"https://www.wsj.com/articles/at-t-verizon-raise-prices-and-test-consumer-budgets-11656156781?mod=hp_lista_pos5\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TMUS":"T-Mobile US Inc","VZ":"威瑞森","T":"美国电话电报"},"source_url":"https://www.wsj.com/articles/at-t-verizon-raise-prices-and-test-consumer-budgets-11656156781?mod=hp_lista_pos5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146702668","content_text":"Wireless companies are boosting monthly fees and increasing the cost of mostly older cellphone plansCellphone carriers have spent billions to maintain their networks and to upgrade them to fifth-generation standards.This summer will test whether Americans already absorbing surging costs for fuel and food can also shoulder the burden of costlier cellphone service.Wireless companies have spent the past month boosting fees and raising the cost of some midrange wireless plans. Industry executives say that consumers already numbed to surging prices for other necessities might absorb slightly higher rates instead of switching providers or dropping service.AT&T Inc. starting in June, raised the cost of its older wireless plans by up to $6 for single lines and $12 for family plans, encouraging subscribers to adopt newer unlimited data plans.Verizon Communications Inc. later matched AT&T with a $6 or $12 monthly price increase on its metered-data plans. It also raised some monthly fees on consumer wireless plans by $1.35 and levied a monthly per-smartphone fee of up to $2.20 on many business plans.Verizon consumer group chief Manon Brouillette said that consumers are worried about the economic environment but the cellphone carrier remained confident in its prices because its customers value its reliable network.T-Mobile US Inc. has seized on its rivals’ price increases to burnish its lower-cost reputation, calling the decisions insensitive to overburdened consumers. Many T-Mobile rates are frozen anyway under a regulatory agreement tied to its 2020 takeover of Sprint Corp., though the company can still revise fees. The company in February raised monthly fees on some older plans by up to 31 cents.AT&T is among those wireless companies that raised the cost of older service plans in June.T-Mobile said its fees will affect a smaller share of its customers. The company is meanwhile adding new perks to its most expensive consumer and business plans to convince customers to upgrade their service. New offerings include high-speed data service in more than 200 countries and free Wi-Fi on Alaska, American and Deltaflights.“What we’re doing is dramatically different,” T-Mobile marketing chief Mike Katz said in a recent interview.Verizon is so far the only wireless carrier to raise fees on a plan advertised today. Most other rate increases have hit cheaper plans no longer offered to new customers.“We didn’t do a broad stroke across the entire customer base,” AT&T Chief Operating OfficerJeff McElfreshsaid at a recent investor conference. “We looked at a cohort of customers that were on the oldest rate plans that didn’t have access to 5G or some of the best features and benefits.”The top three U.S. carriers declined to detail how much the rate increases will benefit their revenue. Media and telecom research firm LightShed Partners estimates Verizon’s three price increases will add another $2.4 billion to Verizon’s annual revenue over time. It expects AT&T and T-Mobile’s increases to add $700 million and $100 million, respectively, to annual revenue.Cellphone carriers have reinvested their revenue into their networks, which cost billions of dollars each year to maintain and billions more to reach fifth-generation standards capable of serving high-speed internet to customers on the go. AT&T and Verizon are also under pressure to boost revenue while still paying their investors a reliable dividend.The price change dismayed Jim Polder, a retired law-enforcement officer from Lake Havasu City, Ariz., whose 97-year-old father learned of the $6 monthly increase by email.“Financially, it’s not going to really bother him,” Mr. Polder said. “It’s really the principle of the thing. They want to add $6 for a network that’s already in place. The way gas is going, it will bother a lot of people who can’t afford the jump.”Mr. Polder said his father doesn’t need a smartphone but will probably buy one to keep using Verizon, which will decommission its older 3G network later this year. He said neither he nor his father plan to pay for more expensive unlimited-data plans. T-Mobile is also shutting down its 3G networks this year. AT&T started shutting down its 3G systems earlier this year.Customers on older wireless plans have so far borne the brunt of this year’s rate increases. Telecom executives have avoided touching the advertised price of their top-tier mobile-phone plans to avoid losing their most profitable customers. Cheaper prepaid wireless plans from Verizon’s Tracfone, T-Mobile’s Metro and AT&T’s Cricket brands have also kept their prices in check.Higher prices for midrange wireless services could still prompt customers to pick a cheaper plan. They could also choose new cellphone plans that cable companies like Comcast Corp. bundle with their home internet services. But market analysts say higher prices aren’t likely to drive phone users to drop service altogether, even if they already have more than one line.“This is the most important consumer product in people’s life,” saidWalt Piecyk, an analyst for LightShed Partners. “Beyond your basic utilities, like food and electricity, it’s the last bill you’re going to cut.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":133,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9048526321,"gmtCreate":1656227248363,"gmtModify":1676535789172,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Smug]&nbsp;","listText":"[Smug]&nbsp;","text":"[Smug]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9048526321","repostId":"1191010488","repostType":4,"repost":{"id":"1191010488","kind":"news","pubTimestamp":1656202469,"share":"https://ttm.financial/m/news/1191010488?lang=&edition=fundamental","pubTime":"2022-06-26 08:14","market":"us","language":"en","title":"Warren Buffett's 4 Rules for Investing in a Bear Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1191010488","media":"Motley Fool","summary":"Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as theS&P 500 was on its way to a 35% dipthat bottomed in 1942. Since then, he's managed through 12 more bear markets not including this one.Despite those downturns, Buffett has managed to create billions in value for himself and the shareholders of the company he runs,Berkshire Hathaway. If any investor is qualified to share wisdom on investing in bear markets, it's Buffett.So it m","content":"<html><head></head><body><p>Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as the S&amp;P 500 was on its way to a 35% dip that bottomed in 1942. Since then, he&#39;s managed through 12 more bear markets not including this one.</p><p>Despite those downturns, Buffett has managed to create billions in value for himself and the shareholders of the company he runs, Berkshire Hathaway. If any investor is qualified to share wisdom on investing in bear markets, it&#39;s Buffett.</p><p>So it makes sense to lean on his expertise to get through this tough climate with your wealth intact, right? To get you started, here are four of Buffett&#39;s famous rules for investing in a bear market.</p><p>1. Buy quality merchandise on sale</p><blockquote><i>&#34;Whether we&#39;re talking about socks or stocks, I like buying quality merchandise when it is marked down.&#34;</i></blockquote><p>Buffett invests in high-quality businesses -- companies with a proven ability to create shareholder value through all economic climates. In his view, bear markets provide opportunities to buy these quality stocks at lower prices.</p><p>As an example, Buffett&#39;s response earlier this year to the tech stock sell-off was to buy more of his favorite technology company, Apple. Although Apple already comprised more than 40% of Berkshire Hathaway&#39;s portfolio, Buffett bought another 3.78 million shares.</p><p>You can mimic his strategy by identifying stocks you love for their long-term prospects. If your budget allows, increase your investing activity and pad your share counts while prices remain low.</p><p>2. Hold forever</p><blockquote><i>&#34;Our favorite holding period is forever.&#34;</i></blockquote><p>When you buy stocks you&#39;d like to hold forever, bear markets become far less stressful. Since your plan is to hold for the long run, you don&#39;t have to do anything when the market goes sideways. No reshuffling your portfolio and no guessing when share prices will bottom out. Your only job is to wait.</p><p>3. Stay calm</p><blockquote><i>&#34;The most important quality for an investor is temperament, not intellect.&#34;</i></blockquote><p>It&#39;s normal and useful to second-guess your &#34;hold forever&#34; plan when circumstances change. Certainly, there will be times when you should drop a stock you thought was a keeper.</p><p>The distinction you must make is whether circumstances have changed permanently or temporarily. And that&#39;s easier to do when you can analyze what&#39;s happening calmly and rationally. If you let your emotions take over, they can convince you to scrap your plan, cut your losses, or take some other dramatic action that&#39;s sure to dampen your long-term returns.</p><p>4. Keep your distance</p><p>Buffett said this when asked what advice he had for investors in tough markets:<i>&#34;I would tell them: Don&#39;t watch the market too closely.&#34;</i></p><p>Let&#39;s say you&#39;re confident that your &#34;hold forever&#34; stocks can withstand a temporary bear market. And for that reason, you&#39;re not going to react to falling share prices. In that scenario, what&#39;s the benefit of tracking every bump along the way? There isn&#39;t one.</p><p>It&#39;s OK to keep some distance from financial headlines when the market is going crazy. Consider it a survival strategy that helps you stay calm and stick to your investing plan.</p><p>Buy or do nothing</p><p>When a bear market sets in, you&#39;ll see Buffett mostly buy or hold. If you&#39;re questioning whether those are the right moves for your portfolio, remember this: Buffett is worth about $95 billion, and he has invested through more bear markets than almost anyone. His tactics can help you emerge from this bear market stronger and wealthier than ever.</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>Warren Buffett's 4 Rules for Investing in a Bear Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett's 4 Rules for Investing in a Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-26 08:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zacks.com/stock/news/1943735/how-to-pick-great-value-stocks-like-warren-buffett?art_rec=home-home-top_stories-ID01-txt-1943735><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as the S&P 500 was on its way to a 35% dip that bottomed in 1942. Since then, he's ...</p>\n\n<a href=\"https://www.zacks.com/stock/news/1943735/how-to-pick-great-value-stocks-like-warren-buffett?art_rec=home-home-top_stories-ID01-txt-1943735\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.zacks.com/stock/news/1943735/how-to-pick-great-value-stocks-like-warren-buffett?art_rec=home-home-top_stories-ID01-txt-1943735","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191010488","content_text":"Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as the S&P 500 was on its way to a 35% dip that bottomed in 1942. Since then, he's managed through 12 more bear markets not including this one.Despite those downturns, Buffett has managed to create billions in value for himself and the shareholders of the company he runs, Berkshire Hathaway. If any investor is qualified to share wisdom on investing in bear markets, it's Buffett.So it makes sense to lean on his expertise to get through this tough climate with your wealth intact, right? To get you started, here are four of Buffett's famous rules for investing in a bear market.1. Buy quality merchandise on sale\"Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.\"Buffett invests in high-quality businesses -- companies with a proven ability to create shareholder value through all economic climates. In his view, bear markets provide opportunities to buy these quality stocks at lower prices.As an example, Buffett's response earlier this year to the tech stock sell-off was to buy more of his favorite technology company, Apple. Although Apple already comprised more than 40% of Berkshire Hathaway's portfolio, Buffett bought another 3.78 million shares.You can mimic his strategy by identifying stocks you love for their long-term prospects. If your budget allows, increase your investing activity and pad your share counts while prices remain low.2. Hold forever\"Our favorite holding period is forever.\"When you buy stocks you'd like to hold forever, bear markets become far less stressful. Since your plan is to hold for the long run, you don't have to do anything when the market goes sideways. No reshuffling your portfolio and no guessing when share prices will bottom out. Your only job is to wait.3. Stay calm\"The most important quality for an investor is temperament, not intellect.\"It's normal and useful to second-guess your \"hold forever\" plan when circumstances change. Certainly, there will be times when you should drop a stock you thought was a keeper.The distinction you must make is whether circumstances have changed permanently or temporarily. And that's easier to do when you can analyze what's happening calmly and rationally. If you let your emotions take over, they can convince you to scrap your plan, cut your losses, or take some other dramatic action that's sure to dampen your long-term returns.4. Keep your distanceBuffett said this when asked what advice he had for investors in tough markets:\"I would tell them: Don't watch the market too closely.\"Let's say you're confident that your \"hold forever\" stocks can withstand a temporary bear market. And for that reason, you're not going to react to falling share prices. In that scenario, what's the benefit of tracking every bump along the way? There isn't one.It's OK to keep some distance from financial headlines when the market is going crazy. Consider it a survival strategy that helps you stay calm and stick to your investing plan.Buy or do nothingWhen a bear market sets in, you'll see Buffett mostly buy or hold. If you're questioning whether those are the right moves for your portfolio, remember this: Buffett is worth about $95 billion, and he has invested through more bear markets than almost anyone. His tactics can help you emerge from this bear market stronger and wealthier than ever.","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9041700458,"gmtCreate":1656104303374,"gmtModify":1676535766806,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9041700458","repostId":"1112627509","repostType":4,"repost":{"id":"1112627509","kind":"news","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":1656084487,"share":"https://ttm.financial/m/news/1112627509?lang=&edition=fundamental","pubTime":"2022-06-24 23:28","market":"us","language":"en","title":"U.S. Consumer Sentiment Falls to Record Low, Inflation Outlook Improves","url":"https://stock-news.laohu8.com/highlight/detail?id=1112627509","media":"Reuters","summary":"June 24 (Reuters) - U.S. consumer sentiment fell to a record low in June, but Americans saw a marginal improvement in the outlook for inflation, a survey showed on Friday, a rare silver lining for Fed","content":"<html><head></head><body><p>June 24 (Reuters) - U.S. consumer sentiment fell to a record low in June, but Americans saw a marginal improvement in the outlook for inflation, a survey showed on Friday, a rare silver lining for Federal Reserve policymakers as they assess how quickly they need to raise interest rates this year.</p><p>The University of Michigan said its final consumer sentiment index reading for the month fell to 50.0 from 55.2 in May on the persistence of high inflation and rising fears of an economic slowdown. That compared with a preliminary reading of 50.2 earlier in June.</p><p>The survey&#39;s one-year inflation expectation was unchanged from May at 5.3%, but ticked down from a preliminary June reading of 5.4%. The five-year inflation outlook edged up to 3.1% from 3.0% in May, but was down from 3.3% earlier in June.</p><p>A poor preliminary reading two weeks ago, along with other worrying inflation data on the same day, caused the U.S. central bank to pivot to delivering a bigger-than-expected rate hike of 75 basis points last week on worries that inflation expectations were beginning to become unmoored.</p><p>The Fed has since signaled it will raise its benchmark overnight interest rate by either 50 or 75 basis points at its next policy meeting in July in a bid to more decisively dent inflation, calling that battle &#34;unconditional.&#34;</p><p>The moderation in inflation expectations - particularly at the 5-year horizon - triggered a drop in yields on the Treasury securities most sensitive to Fed policy expectations.</p><p>The yield on the 2-year note dropped by as much as 10 basis points in the moments after the University of Michigan data was released. It was last at 3.04% versus 3.02% late on Thursday but still down 5 basis points from the day&#39;s high.</p><p>Interest rate futures also reacted following the report, with contracts tied to the Fed&#39;s July policy meeting now reflecting a 83.4% probability of another 75-basis-point rate hike versus 93.3% on Thursday. The likelihood of the Fed scaling back that pace to 50 basis points at its mid-September meeting was further solidified by the data.</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>U.S. Consumer Sentiment Falls to Record Low, Inflation Outlook Improves</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. Consumer Sentiment Falls to Record Low, Inflation Outlook Improves\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\">2022-06-24 23:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>June 24 (Reuters) - U.S. consumer sentiment fell to a record low in June, but Americans saw a marginal improvement in the outlook for inflation, a survey showed on Friday, a rare silver lining for Federal Reserve policymakers as they assess how quickly they need to raise interest rates this year.</p><p>The University of Michigan said its final consumer sentiment index reading for the month fell to 50.0 from 55.2 in May on the persistence of high inflation and rising fears of an economic slowdown. That compared with a preliminary reading of 50.2 earlier in June.</p><p>The survey&#39;s one-year inflation expectation was unchanged from May at 5.3%, but ticked down from a preliminary June reading of 5.4%. The five-year inflation outlook edged up to 3.1% from 3.0% in May, but was down from 3.3% earlier in June.</p><p>A poor preliminary reading two weeks ago, along with other worrying inflation data on the same day, caused the U.S. central bank to pivot to delivering a bigger-than-expected rate hike of 75 basis points last week on worries that inflation expectations were beginning to become unmoored.</p><p>The Fed has since signaled it will raise its benchmark overnight interest rate by either 50 or 75 basis points at its next policy meeting in July in a bid to more decisively dent inflation, calling that battle &#34;unconditional.&#34;</p><p>The moderation in inflation expectations - particularly at the 5-year horizon - triggered a drop in yields on the Treasury securities most sensitive to Fed policy expectations.</p><p>The yield on the 2-year note dropped by as much as 10 basis points in the moments after the University of Michigan data was released. It was last at 3.04% versus 3.02% late on Thursday but still down 5 basis points from the day&#39;s high.</p><p>Interest rate futures also reacted following the report, with contracts tied to the Fed&#39;s July policy meeting now reflecting a 83.4% probability of another 75-basis-point rate hike versus 93.3% on Thursday. The likelihood of the Fed scaling back that pace to 50 basis points at its mid-September meeting was further solidified by the data.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112627509","content_text":"June 24 (Reuters) - U.S. consumer sentiment fell to a record low in June, but Americans saw a marginal improvement in the outlook for inflation, a survey showed on Friday, a rare silver lining for Federal Reserve policymakers as they assess how quickly they need to raise interest rates this year.The University of Michigan said its final consumer sentiment index reading for the month fell to 50.0 from 55.2 in May on the persistence of high inflation and rising fears of an economic slowdown. That compared with a preliminary reading of 50.2 earlier in June.The survey's one-year inflation expectation was unchanged from May at 5.3%, but ticked down from a preliminary June reading of 5.4%. The five-year inflation outlook edged up to 3.1% from 3.0% in May, but was down from 3.3% earlier in June.A poor preliminary reading two weeks ago, along with other worrying inflation data on the same day, caused the U.S. central bank to pivot to delivering a bigger-than-expected rate hike of 75 basis points last week on worries that inflation expectations were beginning to become unmoored.The Fed has since signaled it will raise its benchmark overnight interest rate by either 50 or 75 basis points at its next policy meeting in July in a bid to more decisively dent inflation, calling that battle \"unconditional.\"The moderation in inflation expectations - particularly at the 5-year horizon - triggered a drop in yields on the Treasury securities most sensitive to Fed policy expectations.The yield on the 2-year note dropped by as much as 10 basis points in the moments after the University of Michigan data was released. It was last at 3.04% versus 3.02% late on Thursday but still down 5 basis points from the day's high.Interest rate futures also reacted following the report, with contracts tied to the Fed's July policy meeting now reflecting a 83.4% probability of another 75-basis-point rate hike versus 93.3% on Thursday. The likelihood of the Fed scaling back that pace to 50 basis points at its mid-September meeting was further solidified by the data.","news_type":1},"isVote":1,"tweetType":1,"viewCount":83,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9041373978,"gmtCreate":1656025073994,"gmtModify":1676535750785,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Gd info","listText":"Gd info","text":"Gd info","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9041373978","repostId":"2245088225","repostType":4,"repost":{"id":"2245088225","kind":"highlight","pubTimestamp":1655989722,"share":"https://ttm.financial/m/news/2245088225?lang=&edition=fundamental","pubTime":"2022-06-23 21:08","market":"us","language":"en","title":"3 Warren Buffett Stocks You'll Wish You'd Bought 5 Years From Now","url":"https://stock-news.laohu8.com/highlight/detail?id=2245088225","media":"Motley Fool","summary":"Many of Buffett's software-related stocks appear poised to come back.","content":"<html><head></head><body><p>Amid the recent stock market sell-off, Warren Buffett has again proven the success of his investment formula. While the <b>S&amp;P 500 </b>has entered bear territory, his company <b>Berkshire Hathaway </b>sells near levels where it traded 12 months ago.</p><p>Although Buffett may have become better known for holdings outside of tech, he holds a few positions in the software sector. As technology stocks recover, companies such as <b>Apple</b>, <b>Mastercard</b>, and <b>Snowflake</b> could boost Buffett&#39;s returns as conditions improve.</p><h2>The free-cash-flow king that relies increasingly on software<b> </b></h2><p><b>Will Healy</b> <b>(Apple): </b>One cannot discuss Buffett&#39;s tech plays without mentioning Apple. His Apple holdings account for 39% of a portfolio that holds more than 50 publicly traded stocks.</p><p>The majority of revenue comes from the iPhone, a combined hardware and software offering. Additionally, software may have kept Apple strong during the downturn given the success of Apple Services. It includes software offerings such as iCloud, advertising, digital content, and payments.</p><p>The Apple Services segment generated $20 billion in revenue in the fiscal second quarter of 2022 (which ended March 26). This is a 17% surge year over year, taking this segment&#39;s revenue to an all-time high.</p><p>Its success also helped the company as rising prices and supply chain challenges weighed on Apple. Q2 revenue came in at $97 billion, a 9% increase from year-ago levels. Net income grew 6% over that period to $25 billion as a rising cost of sales, higher operating expenses, and increased income taxes reduced growth in the bottom line.</p><p>But despite the single-digit growth, Apple&#39;s $201 billion in liquidity should help it ride out any storm and keep it a crown jewel in the Buffett portfolio. Moreover, the stock has risen by 4% over the last 12 months. While not a stellar performance, it bodes well for the company considering that many tech growth stocks have lost more than three-fourths of their value in recent months.</p><p>Also, its price-to earnings (P/E) ratio of 22 is at its lowest level since the beginning of the pandemic. Such a valuation could attract more investment from Buffett and other prominent investors. Given its relative stability and massive liquidity position amid this sell-off, perhaps now is the time to buy.</p><h2>Mastercard gives investors the best of both worlds</h2><p><b>Justin Pope</b> <b>(Mastercard):</b> Mastercard is the world&#39;s second-largest payment processing network. It has just under 2.9 billion debit and credit cards in circulation worldwide.</p><p>Mastercard&#39;s network connects the merchants where you swipe your payment card to the financial institutions that handle the money. Think of the network as a highway that cars use to travel back and forth. You pay a toll when you use the highway; similarly, Mastercard charges a small percentage of each transaction its network processes.</p><p>The company&#39;s grown revenue by an average of 11% annually over the past decade, driven by a steady shift away from cash as a payment method. Additionally, Mastercard isn&#39;t impacted by inflation because its fee is a percentage of each transaction; in other words, Mastercard captures more revenue as the prices of goods and services increase.</p><p>Mastercard is a cash cow, turning 46% of its revenue into free cash flow. Management shares those cash profits with investors, having paid and raised its dividend for the past 11 years. Investors won&#39;t get a huge dividend yield at just 0.6%, but the payout grows quickly; its annual increase has averaged 18% over the past five years. The company also spends billions on share repurchases, shrinking the share count by 22% over the past decade.</p><p>The company&#39;s ability to grow cash and return it to investors simultaneously has powered market-beating returns, totaling more than 7,300% since Mastercard came public in 2006. Despite its success, there could still be more upside ahead. Earnings per share (EPS) have grown by an average of 16% over the past three years, only slightly dropping from its 10-year rate of 19%. Warren Buffett bought his first position in 2011, which remains a part of his portfolio today.</p><h2>Snowflake&#39;s business model makes it stand out from its cloud-computing peers</h2><p><b>Jake Lerch (Snowflake): </b>Snowflake doesn&#39;t fit the profile of a typical &#34;Buffett stock.&#34; In fact, Snowflake is the type of company Buffett may have derided several years ago. It&#39;s a recently founded technology company and its business model can be challenging to understand. Nevertheless, Buffett -- or more likely Berkshire Hathaway investment managers Todd Combs or Ted Weschler -- has accumulated over 6 million shares of Snowflake. </p><p>Snowflake is, at the most basic level, a cloud computing company. But what really differentiates the company is its business model. Snowflake doesn&#39;t focus on increasing its customers&#39; sales or streamlining their human resources workflow. Instead, it helps organizations gain a bird&#39;s eye view of all the data relevant to their operations. This perspective allows them to gain valuable insights into trends and improve their decision making.</p><p>For example, Snowflake can help retailers more accurately predict and manage their inventory. In the pharmaceutical industry, Snowflake can help companies research and develop new treatments by quickly compiling and sharing data from outside sources.</p><p>There&#39;s no doubt that Snowflake has secular tailwinds behind it. The company currently has 184 large customers (those generating more than $1 million in product revenue), and it plans to expand that number to 1,400 by 2029. Moreover, Snowflake hopes to grow its revenue almost tenfold over that same period. Over the last 12 months, Snowflake generated $1.4 billion of revenue -- its first time crossing the $1 billion mark. And by 2029, the company aims to exceed $10 billion in annual sales. </p><p>But owning shares of Snowflake isn&#39;t without risk. First of all, Snowflake lacks profits. The company has never turned a profit, and its net income actually sank deeper into the red over the last two years, mainly due to lucrative stock compensation for its employees. What&#39;s more, the company relies on would-be competitors like <b>Amazon</b> and <b>Microsoft</b> for the cloud infrastructure to run its software. </p><p>Nevertheless, Snowflake appears to have carved out a lucrative niche in the cloud-computing space. If you&#39;re willing to ride out short-term volatility, Snowflake looks like an outstanding Buffett stock -- albeit an unorthodox one.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Warren Buffett Stocks You'll Wish You'd Bought 5 Years From Now</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Warren Buffett Stocks You'll Wish You'd Bought 5 Years From Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-23 21:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/06/23/3-warren-buffett-stocks-wish-bought-5-years/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amid the recent stock market sell-off, Warren Buffett has again proven the success of his investment formula. While the S&P 500 has entered bear territory, his company Berkshire Hathaway sells near ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/23/3-warren-buffett-stocks-wish-bought-5-years/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNOW":"Snowflake","AAPL":"苹果","BRK.A":"伯克希尔","MA":"万事达","BRK.B":"伯克希尔B"},"source_url":"https://www.fool.com/investing/2022/06/23/3-warren-buffett-stocks-wish-bought-5-years/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2245088225","content_text":"Amid the recent stock market sell-off, Warren Buffett has again proven the success of his investment formula. While the S&P 500 has entered bear territory, his company Berkshire Hathaway sells near levels where it traded 12 months ago.Although Buffett may have become better known for holdings outside of tech, he holds a few positions in the software sector. As technology stocks recover, companies such as Apple, Mastercard, and Snowflake could boost Buffett's returns as conditions improve.The free-cash-flow king that relies increasingly on software Will Healy (Apple): One cannot discuss Buffett's tech plays without mentioning Apple. His Apple holdings account for 39% of a portfolio that holds more than 50 publicly traded stocks.The majority of revenue comes from the iPhone, a combined hardware and software offering. Additionally, software may have kept Apple strong during the downturn given the success of Apple Services. It includes software offerings such as iCloud, advertising, digital content, and payments.The Apple Services segment generated $20 billion in revenue in the fiscal second quarter of 2022 (which ended March 26). This is a 17% surge year over year, taking this segment's revenue to an all-time high.Its success also helped the company as rising prices and supply chain challenges weighed on Apple. Q2 revenue came in at $97 billion, a 9% increase from year-ago levels. Net income grew 6% over that period to $25 billion as a rising cost of sales, higher operating expenses, and increased income taxes reduced growth in the bottom line.But despite the single-digit growth, Apple's $201 billion in liquidity should help it ride out any storm and keep it a crown jewel in the Buffett portfolio. Moreover, the stock has risen by 4% over the last 12 months. While not a stellar performance, it bodes well for the company considering that many tech growth stocks have lost more than three-fourths of their value in recent months.Also, its price-to earnings (P/E) ratio of 22 is at its lowest level since the beginning of the pandemic. Such a valuation could attract more investment from Buffett and other prominent investors. Given its relative stability and massive liquidity position amid this sell-off, perhaps now is the time to buy.Mastercard gives investors the best of both worldsJustin Pope (Mastercard): Mastercard is the world's second-largest payment processing network. It has just under 2.9 billion debit and credit cards in circulation worldwide.Mastercard's network connects the merchants where you swipe your payment card to the financial institutions that handle the money. Think of the network as a highway that cars use to travel back and forth. You pay a toll when you use the highway; similarly, Mastercard charges a small percentage of each transaction its network processes.The company's grown revenue by an average of 11% annually over the past decade, driven by a steady shift away from cash as a payment method. Additionally, Mastercard isn't impacted by inflation because its fee is a percentage of each transaction; in other words, Mastercard captures more revenue as the prices of goods and services increase.Mastercard is a cash cow, turning 46% of its revenue into free cash flow. Management shares those cash profits with investors, having paid and raised its dividend for the past 11 years. Investors won't get a huge dividend yield at just 0.6%, but the payout grows quickly; its annual increase has averaged 18% over the past five years. The company also spends billions on share repurchases, shrinking the share count by 22% over the past decade.The company's ability to grow cash and return it to investors simultaneously has powered market-beating returns, totaling more than 7,300% since Mastercard came public in 2006. Despite its success, there could still be more upside ahead. Earnings per share (EPS) have grown by an average of 16% over the past three years, only slightly dropping from its 10-year rate of 19%. Warren Buffett bought his first position in 2011, which remains a part of his portfolio today.Snowflake's business model makes it stand out from its cloud-computing peersJake Lerch (Snowflake): Snowflake doesn't fit the profile of a typical \"Buffett stock.\" In fact, Snowflake is the type of company Buffett may have derided several years ago. It's a recently founded technology company and its business model can be challenging to understand. Nevertheless, Buffett -- or more likely Berkshire Hathaway investment managers Todd Combs or Ted Weschler -- has accumulated over 6 million shares of Snowflake. Snowflake is, at the most basic level, a cloud computing company. But what really differentiates the company is its business model. Snowflake doesn't focus on increasing its customers' sales or streamlining their human resources workflow. Instead, it helps organizations gain a bird's eye view of all the data relevant to their operations. This perspective allows them to gain valuable insights into trends and improve their decision making.For example, Snowflake can help retailers more accurately predict and manage their inventory. In the pharmaceutical industry, Snowflake can help companies research and develop new treatments by quickly compiling and sharing data from outside sources.There's no doubt that Snowflake has secular tailwinds behind it. The company currently has 184 large customers (those generating more than $1 million in product revenue), and it plans to expand that number to 1,400 by 2029. Moreover, Snowflake hopes to grow its revenue almost tenfold over that same period. Over the last 12 months, Snowflake generated $1.4 billion of revenue -- its first time crossing the $1 billion mark. And by 2029, the company aims to exceed $10 billion in annual sales. But owning shares of Snowflake isn't without risk. First of all, Snowflake lacks profits. The company has never turned a profit, and its net income actually sank deeper into the red over the last two years, mainly due to lucrative stock compensation for its employees. What's more, the company relies on would-be competitors like Amazon and Microsoft for the cloud infrastructure to run its software. Nevertheless, Snowflake appears to have carved out a lucrative niche in the cloud-computing space. If you're willing to ride out short-term volatility, Snowflake looks like an outstanding Buffett stock -- albeit an unorthodox one.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9016341882,"gmtCreate":1649133991258,"gmtModify":1676534457581,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Thanks for the insight","listText":"Thanks for the insight","text":"Thanks for the insight","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9016341882","repostId":"2224305808","repostType":2,"repost":{"id":"2224305808","kind":"highlight","pubTimestamp":1649116861,"share":"https://ttm.financial/m/news/2224305808?lang=&edition=fundamental","pubTime":"2022-04-05 08:01","market":"us","language":"en","title":"3 Stocks to Avoid This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=2224305808","media":"Motley Fool","summary":"These investments seem pretty vulnerable right now.","content":"<html><head></head><body><p>My three stocks to avoid column for last week got off to a brutal start. The three names I figured were going to move lower for the week -- <b>GameStop </b>( GME -0.95% ), <b>Chewy</b> ( CHWY 0.37% ), and <b>AMC Entertainment</b> ( AMC -5.44% ) -- soared on Monday. All three stocks would go on to decline over the final four trading days of the week, but only <a href=\"https://laohu8.com/S/AONE.U\">one</a> of them fell enough to offset the initial Monday pop. GameStop, Chewy, and AMC Entertainment rose 15%, fell 11%, and climbed 9% last week, respectively, averaging out to a hearty 4.3% increase.</p><p>The <b>S&amp;P 500</b> rose a mere 0.1% for the week, so I fell well short on my stocks to avoid. The S&amp;P 500 has still outperformed my bearish picks -- meaning that I beat the market, as these are stocks I suggest investors avoid -- in 18 of the past 24 weeks, but I&#39;ve been off the past couple of weeks. This week, I see <b><a href=\"https://laohu8.com/S/WBA\">Walgreens Boots Alliance</a> </b>( WBA -2.03% ), <b>Lamb Weston</b> ( LW 2.15% ), and <b><a href=\"https://laohu8.com/S/GO\">Grocery Outlet Holding</a></b> ( GO 2.71% ) as stocks that you may want to consider steering clear from. Let&#39;s go over my near-term concerns.</p><h2>Walgreens Boots Alliance</h2><p>The drugstore giant inched lower after posting its latest quarterly results last week, hitting a fresh 52-week low by Friday. The market&#39;s may seem surprising at first glance. Walgreens Boots Alliance beat revenue expectations, and it also trounced bottom-line results by a double-digit percentage margin for the fourth quarter in a row.</p><p>The retreat finds Walgreens Boots Alliance popping up on the list of buy candidates for value investors. The stock is trading for less than nine times this year&#39;s projected profit and yielding a beefy 4.4%. However, at least four analysts lowered their price targets on the stock following the earnings call -- including an outright downgrade.</p><p>The concern here is that store traffic could take a hit now that folks aren&#39;t coming in for COVID-19 vaccines and testings. There are medium-term concerns about traditional prescription models getting disrupted, and we did see sales decline at the AllianceRx Walgreens unit in its latest quarter. The stock may seem cheap by conventional measuring sticks, but there are enough questions left unanswered to leave you wondering if this is a value trap.</p><h2>Lamb Weston</h2><p>We love fries, and Lamb Weston is a leading supplier of frozen potato, sweet potato, appetizer, and vegetable products to retailers and restaurant operators. Based out of Idaho -- of course -- Lamb Weston is the kind of stock that rarely makes an appearance on this list. It&#39;s profitable, and it even pays out a dividend.</p><p>The rub is that this a challenging time to be a food company. Rising costs everywhere from growing wages to skyrocketing production and transportation costs are pushing inflationary forces higher. How much more are you willing to pay for name-brand fries?</p><p>We&#39;ll get a financial update when Lamb Weston reports financial results for its fiscal second quarter an hour before Thursday&#39;s market open. Analysts see revenue climbing 8% from the prior year&#39;s depressed results, and just 3% compared to the same fiscal period two years ago. Wall Street pros see a slight dip in year-over-year profitability, and that&#39;s par for the course, as earnings should decline for the third fiscal year in a row. Lamb Weston has also fallen short of analyst net income targets in two of the past four quarters, and those forecasts have been inching lower in recent weeks. In short, Thursday&#39;s report is highly unlikely to impress investors.</p><h2>Grocery Outlet Holding</h2><p>A lot of companies that went public over the past two years are currently underwater, but that&#39;s not the case with Grocery Outlet Holding. The unique retailer that supplies a chain of contractor-operated discount grocery stores is up better than 50% since going public at $22 less 22 months ago.</p><p>Grocery Outlet lived up to the initial hype, and the 23% revenue growth it posted in 2020 was its strongest gain in years. However, with its top line declining last year -- even as its network of stores grew to more than 400 locations -- it&#39;s OK to have concerns. Still, Grocery Outlet isn&#39;t necessarily prone to the same inflationary concerns we have with Lamb Weston. It will find overstocks, closeouts, and clearance items to fill the shelves of its independent contractor-run stores. It could even be a beneficiary as shoppers forgo traditional supermarkets with full-service specialty departments to go bargain hunting with the ever-changing collection of marked-down offerings.</p><p>There are still issues with the stock&#39;s lofty valuation and iffy business model. If you&#39;re looking for safe stocks, you aren&#39;t likely to find them in Walgreens Boots Alliance, Lamb Weston, and Grocery Outlet Holding this week.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks to Avoid This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks to Avoid This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-05 08:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/04/3-stocks-to-avoid-this-week/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>My three stocks to avoid column for last week got off to a brutal start. The three names I figured were going to move lower for the week -- GameStop ( GME -0.95% ), Chewy ( CHWY 0.37% ), and AMC ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/04/3-stocks-to-avoid-this-week/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GO":"Grocery Outlet Holding","LW":"Lamb Weston Holdings, Inc.","WBA":"沃尔格林联合博姿"},"source_url":"https://www.fool.com/investing/2022/04/04/3-stocks-to-avoid-this-week/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2224305808","content_text":"My three stocks to avoid column for last week got off to a brutal start. The three names I figured were going to move lower for the week -- GameStop ( GME -0.95% ), Chewy ( CHWY 0.37% ), and AMC Entertainment ( AMC -5.44% ) -- soared on Monday. All three stocks would go on to decline over the final four trading days of the week, but only one of them fell enough to offset the initial Monday pop. GameStop, Chewy, and AMC Entertainment rose 15%, fell 11%, and climbed 9% last week, respectively, averaging out to a hearty 4.3% increase.The S&P 500 rose a mere 0.1% for the week, so I fell well short on my stocks to avoid. The S&P 500 has still outperformed my bearish picks -- meaning that I beat the market, as these are stocks I suggest investors avoid -- in 18 of the past 24 weeks, but I've been off the past couple of weeks. This week, I see Walgreens Boots Alliance ( WBA -2.03% ), Lamb Weston ( LW 2.15% ), and Grocery Outlet Holding ( GO 2.71% ) as stocks that you may want to consider steering clear from. Let's go over my near-term concerns.Walgreens Boots AllianceThe drugstore giant inched lower after posting its latest quarterly results last week, hitting a fresh 52-week low by Friday. The market's may seem surprising at first glance. Walgreens Boots Alliance beat revenue expectations, and it also trounced bottom-line results by a double-digit percentage margin for the fourth quarter in a row.The retreat finds Walgreens Boots Alliance popping up on the list of buy candidates for value investors. The stock is trading for less than nine times this year's projected profit and yielding a beefy 4.4%. However, at least four analysts lowered their price targets on the stock following the earnings call -- including an outright downgrade.The concern here is that store traffic could take a hit now that folks aren't coming in for COVID-19 vaccines and testings. There are medium-term concerns about traditional prescription models getting disrupted, and we did see sales decline at the AllianceRx Walgreens unit in its latest quarter. The stock may seem cheap by conventional measuring sticks, but there are enough questions left unanswered to leave you wondering if this is a value trap.Lamb WestonWe love fries, and Lamb Weston is a leading supplier of frozen potato, sweet potato, appetizer, and vegetable products to retailers and restaurant operators. Based out of Idaho -- of course -- Lamb Weston is the kind of stock that rarely makes an appearance on this list. It's profitable, and it even pays out a dividend.The rub is that this a challenging time to be a food company. Rising costs everywhere from growing wages to skyrocketing production and transportation costs are pushing inflationary forces higher. How much more are you willing to pay for name-brand fries?We'll get a financial update when Lamb Weston reports financial results for its fiscal second quarter an hour before Thursday's market open. Analysts see revenue climbing 8% from the prior year's depressed results, and just 3% compared to the same fiscal period two years ago. Wall Street pros see a slight dip in year-over-year profitability, and that's par for the course, as earnings should decline for the third fiscal year in a row. Lamb Weston has also fallen short of analyst net income targets in two of the past four quarters, and those forecasts have been inching lower in recent weeks. In short, Thursday's report is highly unlikely to impress investors.Grocery Outlet HoldingA lot of companies that went public over the past two years are currently underwater, but that's not the case with Grocery Outlet Holding. The unique retailer that supplies a chain of contractor-operated discount grocery stores is up better than 50% since going public at $22 less 22 months ago.Grocery Outlet lived up to the initial hype, and the 23% revenue growth it posted in 2020 was its strongest gain in years. However, with its top line declining last year -- even as its network of stores grew to more than 400 locations -- it's OK to have concerns. Still, Grocery Outlet isn't necessarily prone to the same inflationary concerns we have with Lamb Weston. It will find overstocks, closeouts, and clearance items to fill the shelves of its independent contractor-run stores. It could even be a beneficiary as shoppers forgo traditional supermarkets with full-service specialty departments to go bargain hunting with the ever-changing collection of marked-down offerings.There are still issues with the stock's lofty valuation and iffy business model. If you're looking for safe stocks, you aren't likely to find them in Walgreens Boots Alliance, Lamb Weston, and Grocery Outlet Holding this week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9047730039,"gmtCreate":1656977145721,"gmtModify":1676535923782,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9047730039","repostId":"2249349931","repostType":2,"repost":{"id":"2249349931","kind":"highlight","pubTimestamp":1656976592,"share":"https://ttm.financial/m/news/2249349931?lang=&edition=fundamental","pubTime":"2022-07-05 07:16","market":"us","language":"en","title":"3 Bold Predictions For The Second Half Of 2022","url":"https://stock-news.laohu8.com/highlight/detail?id=2249349931","media":"seekingalpha","summary":"\"When a man's neck's in danger, he doesn't stop to think too much about sentiment.\" ― Agatha ChristieThe first half of 2022 mercilessly ended last week. The S&P 500 was down approximately 20%, the worst opening six months for this index since 1970. The NASDAQ was off some 30% while the small cap Russell 2000 fell roughly 25%.Stocks crumbled throughout the first half of the year thanks to the highest inflation levels since the early 80s, record gas and diesel prices, horrid consumer sentiment and","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/8a47a2489ac8fb10531248d1ca8a9bbb\" tg-width=\"750\" tg-height=\"438\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/><i>&#34;When a man&#39;s neck&#39;s in danger, he doesn&#39;t stop to think too much about sentiment.&#34;</i> ― Agatha Christie</p><p>The first half of 2022 mercilessly ended last week. The S&amp;P 500 was down approximately 20%, the worst opening six months for this index since 1970. The NASDAQ was off some 30% while the small cap Russell 2000 fell roughly 25%.</p><p>Stocks crumbled throughout the first half of the year thanks to the highest inflation levels since the early 80s, record gas and diesel prices, horrid consumer sentiment and rising interest rates. The war in Ukraine only added to those woes and this conflict is likely to drag on for at least the end of the year and no serious peace talks are currently ongoing.</p><p>So what will the second half of 2022 bring for battered investors? 3 predictions are highlighted below.</p><h2><b>Recessionary Fears Turn out to be Well Founded:</b></h2><p>The U.S. Administration and other government officials keep stating that a recession is not &#39;<i>inevitable</i>&#39;. Unfortunately, many of these same officials were articulating inflation was going to be &#39;<i>temporary</i>&#39; and &#39;<i>transitionary</i>&#39; as 2022 commenced as well. They look like they will be just as prescient this time around.</p><p>The fact is that for most consumers, the recession has already started. With wage growth running five to six percent annually and inflation running north of eight percent, the average consumer has lost buying power for 15 straight months. This has depleted savings as the average savings rate is now back under five percent, the lowest since 2008.</p><p>The lower and middle income rungs have been particularly stung by rising prices as a large chunk of this population commutes and/or rents. With rents up in the middle teens on average last year, gas up more than 50% and grocery prices rising by more than 10%; these consumers have been put in a vice.</p><p>They will likely be joined by the upper income strata in short order. The stock market evaporated $11 trillion worth of value in the first half of the year. This will lead to a negative &#39;<i>wealth effect</i>&#39;. Layoffs will also increase in the months ahead as the economy enters a recession. Consumer sentiment, which is already at historical lows, will fall further.</p><p></p><p><img src=\"https://static.tigerbbs.com/566df903920b4411af3d61ff0e278a91\" tg-width=\"650\" tg-height=\"507\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Blue Chip Economic Forecasts</p><p></p><p>With the consumer making up nearly 70% of the economy, it is easy to see why economic projections keep getting revised down. The Atlanta Fed&#39;s GDPNow just radically reduced its projection of second quarter GDP growth to a negative 2.1%. If this forecast is even close to correct, the nation is already in a technical recession after the negative 1.6% performance in the first quarter of this year, which the &#39;<i>experts</i>&#39; attributed to &#39;<i>temporary adjustments</i>&#39;. Sound familiar? Acknowledgement that the country is in recession will be a consistent theme this summer.</p><h2><b>Energy Sector Ends Its Outperformance:</b></h2><p>Energy was one of the few bright spots in the market during first half of the year. The Energy Select Sector SPDR <a href=\"https://laohu8.com/S/PSFF\">Pacer Swan SOS Fund of Funds ETF|ETF</a> (XLE) rose nearly 25% even as most of the rest of the equity universe was cratering. The sector benefited from soaring prices for crude oil and natural gas. This the partially driven by the war in Ukraine and western sanctions on Russian energy exports.</p><p>These policies, unfortunately but predictably, have not worked as designed. Russian is raking in record proceeds on the back of soaring energy prices and the Ruble is at multi-year highs and is currently the best performing currency in the world. Meanwhile, the western consumer has had to deal with record gas prices. Europe is particularly vulnerable to any sort of natural gas flow stoppage as we get to winter.</p><p></p><p><img src=\"https://static.tigerbbs.com/2976a09866753015e98a5b484d528c01\" tg-width=\"640\" tg-height=\"333\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Seeking Alpha</p><p></p><p>There was piece on Seeking Alpha this weekend stating how JP Morgan thought oil could soar to as high as $380 a barrel in a worse case scenario where Russia cut its output by five million barrels a day. However, historically the cure for high oil prices is high oil prices. Oil spiked to over $145 a barrel in 2008, before going into a massive free fall as the western economies went into a deep recession thanks to the financial crisis. With recession looming here and in Europe, energy prices seem destine to go lower by the end of 2022. This is already starting to be reflected in the steep sell-off in the energy sector over the past couple of weeks. I look for the energy sector to underperform the overall market in the second half of 2022.</p><h2><b>Healthcare Sector Will Be A Winner:</b></h2><p>Investors are already gravitating to the &#39;<i>defensive</i>&#39; sectors of the market as economic activity continue to decline. One of these is the healthcare sector whose revenues will hold up much better than most industries in a recession scenario.</p><p>Recession or no recession, people still need to get their prescriptions filled, undergo chemo treatments and have necessary surgeries. I have recently established covered call positions on big drug names like Merck (MRK), Gilead Sciences (GILD) and Pfizer (PFE) as I build up exposure to this part of the market. All three names are reasonably valued, pay nice dividends and have liquid options available against their equities.</p><p></p><p><img src=\"https://static.tigerbbs.com/d9cc60a32065d31454acfa3ff49dc13c\" tg-width=\"640\" tg-height=\"333\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Seeking Alpha</p><p></p><p>Biotech also appears to have bottomed recently after an approximate 60% decline since the beginning of 2021. With hundreds of small biotech names selling at or near the net cash on their balance sheets, it was hard for the sector to go even lower. There was also long term technical support developing. Given valuations and the large cash hoards at Big Pharma, I would expect M&amp;A activity to pick up in the second half of this year as well.</p><p>I don&#39;t think the second half of 2022 will be nearly as bad as the first half for investors. Barring a deep recession and/or a major escalation in the Ukraine War, of course That said, I don&#39;t believe the markets have hit bottom yet either. Falling economic activity and soaring input prices will have a significantly negative impact on profit margins. I expect second quarter earnings season to be one where guidance gets lowered across most sectors of the market as well as reflected in downwardly revised profit projections by analyst firms.</p><p>Therefore, my cash allocation is near 25% and I continue to use simple covered call strategies across the majority of the holdings in my portfolio for additional downside risk mitigation.</p><p>And those are some thoughts as trading gets underway in the second half of what has been a brutal year for investors to this point.</p><blockquote><i>&#34;Any order is a balancing act of extreme precariousness.&#34;</i> ― Walter Benjamin</blockquote></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Bold Predictions For The Second Half Of 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\">\n3 Bold Predictions For The Second Half Of 2022\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-07-05 07:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521666-bold-predictions-second-half-2022><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"When a man's neck's in danger, he doesn't stop to think too much about sentiment.\" ― Agatha ChristieThe first half of 2022 mercilessly ended last week. The S&P 500 was down approximately 20%, the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521666-bold-predictions-second-half-2022\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","BK4566":"资本集团","XLE":"SPDR能源指数ETF","BK4532":"文艺复兴科技持仓","BK4578":"CAR-T","MRK":"默沙东","GILD":"吉利德科学","BK4570":"地缘局势概念股","BK4007":"制药","BK4568":"美国抗疫概念","BK4559":"巴菲特持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4534":"瑞士信贷持仓","BK4583":"猴痘概念","BK4550":"红杉资本持仓","BK4581":"高盛持仓","BK4516":"特朗普概念","BK4139":"生物科技"},"source_url":"https://seekingalpha.com/article/4521666-bold-predictions-second-half-2022","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2249349931","content_text":"\"When a man's neck's in danger, he doesn't stop to think too much about sentiment.\" ― Agatha ChristieThe first half of 2022 mercilessly ended last week. The S&P 500 was down approximately 20%, the worst opening six months for this index since 1970. The NASDAQ was off some 30% while the small cap Russell 2000 fell roughly 25%.Stocks crumbled throughout the first half of the year thanks to the highest inflation levels since the early 80s, record gas and diesel prices, horrid consumer sentiment and rising interest rates. The war in Ukraine only added to those woes and this conflict is likely to drag on for at least the end of the year and no serious peace talks are currently ongoing.So what will the second half of 2022 bring for battered investors? 3 predictions are highlighted below.Recessionary Fears Turn out to be Well Founded:The U.S. Administration and other government officials keep stating that a recession is not 'inevitable'. Unfortunately, many of these same officials were articulating inflation was going to be 'temporary' and 'transitionary' as 2022 commenced as well. They look like they will be just as prescient this time around.The fact is that for most consumers, the recession has already started. With wage growth running five to six percent annually and inflation running north of eight percent, the average consumer has lost buying power for 15 straight months. This has depleted savings as the average savings rate is now back under five percent, the lowest since 2008.The lower and middle income rungs have been particularly stung by rising prices as a large chunk of this population commutes and/or rents. With rents up in the middle teens on average last year, gas up more than 50% and grocery prices rising by more than 10%; these consumers have been put in a vice.They will likely be joined by the upper income strata in short order. The stock market evaporated $11 trillion worth of value in the first half of the year. This will lead to a negative 'wealth effect'. Layoffs will also increase in the months ahead as the economy enters a recession. Consumer sentiment, which is already at historical lows, will fall further.Blue Chip Economic ForecastsWith the consumer making up nearly 70% of the economy, it is easy to see why economic projections keep getting revised down. The Atlanta Fed's GDPNow just radically reduced its projection of second quarter GDP growth to a negative 2.1%. If this forecast is even close to correct, the nation is already in a technical recession after the negative 1.6% performance in the first quarter of this year, which the 'experts' attributed to 'temporary adjustments'. Sound familiar? Acknowledgement that the country is in recession will be a consistent theme this summer.Energy Sector Ends Its Outperformance:Energy was one of the few bright spots in the market during first half of the year. The Energy Select Sector SPDR Pacer Swan SOS Fund of Funds ETF|ETF (XLE) rose nearly 25% even as most of the rest of the equity universe was cratering. The sector benefited from soaring prices for crude oil and natural gas. This the partially driven by the war in Ukraine and western sanctions on Russian energy exports.These policies, unfortunately but predictably, have not worked as designed. Russian is raking in record proceeds on the back of soaring energy prices and the Ruble is at multi-year highs and is currently the best performing currency in the world. Meanwhile, the western consumer has had to deal with record gas prices. Europe is particularly vulnerable to any sort of natural gas flow stoppage as we get to winter.Seeking AlphaThere was piece on Seeking Alpha this weekend stating how JP Morgan thought oil could soar to as high as $380 a barrel in a worse case scenario where Russia cut its output by five million barrels a day. However, historically the cure for high oil prices is high oil prices. Oil spiked to over $145 a barrel in 2008, before going into a massive free fall as the western economies went into a deep recession thanks to the financial crisis. With recession looming here and in Europe, energy prices seem destine to go lower by the end of 2022. This is already starting to be reflected in the steep sell-off in the energy sector over the past couple of weeks. I look for the energy sector to underperform the overall market in the second half of 2022.Healthcare Sector Will Be A Winner:Investors are already gravitating to the 'defensive' sectors of the market as economic activity continue to decline. One of these is the healthcare sector whose revenues will hold up much better than most industries in a recession scenario.Recession or no recession, people still need to get their prescriptions filled, undergo chemo treatments and have necessary surgeries. I have recently established covered call positions on big drug names like Merck (MRK), Gilead Sciences (GILD) and Pfizer (PFE) as I build up exposure to this part of the market. All three names are reasonably valued, pay nice dividends and have liquid options available against their equities.Seeking AlphaBiotech also appears to have bottomed recently after an approximate 60% decline since the beginning of 2021. With hundreds of small biotech names selling at or near the net cash on their balance sheets, it was hard for the sector to go even lower. There was also long term technical support developing. Given valuations and the large cash hoards at Big Pharma, I would expect M&A activity to pick up in the second half of this year as well.I don't think the second half of 2022 will be nearly as bad as the first half for investors. Barring a deep recession and/or a major escalation in the Ukraine War, of course That said, I don't believe the markets have hit bottom yet either. Falling economic activity and soaring input prices will have a significantly negative impact on profit margins. I expect second quarter earnings season to be one where guidance gets lowered across most sectors of the market as well as reflected in downwardly revised profit projections by analyst firms.Therefore, my cash allocation is near 25% and I continue to use simple covered call strategies across the majority of the holdings in my portfolio for additional downside risk mitigation.And those are some thoughts as trading gets underway in the second half of what has been a brutal year for investors to this point.\"Any order is a balancing act of extreme precariousness.\" ― Walter Benjamin","news_type":1},"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9043265794,"gmtCreate":1655940383118,"gmtModify":1676535734341,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Looking forward","listText":"Looking forward","text":"Looking forward","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9043265794","repostId":"1174467619","repostType":2,"repost":{"id":"1174467619","kind":"news","pubTimestamp":1655939905,"share":"https://ttm.financial/m/news/1174467619?lang=&edition=fundamental","pubTime":"2022-06-23 07:18","market":"us","language":"en","title":"Apple CEO Cook Says Stay Tuned, Teasing Company's Oft-Rumored AR Headset","url":"https://stock-news.laohu8.com/highlight/detail?id=1174467619","media":"Seeking Alpha","summary":"Apple (NASDAQ:AAPL) Chief Executive Tim Cook told consumers to \"stay tuned\" when asked about what th","content":"<html><head></head><body><p>Apple (NASDAQ:AAPL) Chief Executive Tim Cook told consumers to &#34;stay tuned&#34; when asked about what the tech giant has for the augmented reality space.</p><p>&#34;I am incredibly excited about AR as you might know,&#34; Cook said in a recent interview with China Daily. &#34;And the critical thing to any technology, including AR, is putting humanity at the center of it and that is what we focus on every day.&#34;</p><p>Cook added that Apple (AAPL) has more than 14,000 apps running on ARKit, the company&#39;s augmented reality API and he is excited about the AR-focused opportunities, concluding that customers should &#34;sort of stay tuned and you&#39;ll see what we have to offer.&#34;</p><p>The China Daily interview was first surfaced by Apple focused website9to5Mac.</p><p>Apple (AAPL) shares rose slightly less than 0.5% to $136.24 in late-day trading on Wednesday.</p><p>In May, Apple (AAPL)reportedly showed its mixed reality headset, which includes both AR and VR technologies, to its board of directors, suggesting that it is at an &#34;advanced stage.&#34;</p><p>Late last year, TF International Securities analyst Ming-Chi Kuo said that Apple (AAPL) was already working on the second-version of its headset, which could launch as soon as 2024.</p><p>Wedbush Securities recently reiterated that Apple (AAPL) is one of its top three stocks in the tech sector, reminding investors to focus on &#34;secular winners.&#34;</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple CEO Cook Says Stay Tuned, Teasing Company's Oft-Rumored AR Headset</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple CEO Cook Says Stay Tuned, Teasing Company's Oft-Rumored AR Headset\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-23 07:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3850941-apple-ceo-cook-says-stay-tuned-teasing-companys-oft-rumored-ar-headset><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple (NASDAQ:AAPL) Chief Executive Tim Cook told consumers to \"stay tuned\" when asked about what the tech giant has for the augmented reality space.\"I am incredibly excited about AR as you might know...</p>\n\n<a href=\"https://seekingalpha.com/news/3850941-apple-ceo-cook-says-stay-tuned-teasing-companys-oft-rumored-ar-headset\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/news/3850941-apple-ceo-cook-says-stay-tuned-teasing-companys-oft-rumored-ar-headset","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174467619","content_text":"Apple (NASDAQ:AAPL) Chief Executive Tim Cook told consumers to \"stay tuned\" when asked about what the tech giant has for the augmented reality space.\"I am incredibly excited about AR as you might know,\" Cook said in a recent interview with China Daily. \"And the critical thing to any technology, including AR, is putting humanity at the center of it and that is what we focus on every day.\"Cook added that Apple (AAPL) has more than 14,000 apps running on ARKit, the company's augmented reality API and he is excited about the AR-focused opportunities, concluding that customers should \"sort of stay tuned and you'll see what we have to offer.\"The China Daily interview was first surfaced by Apple focused website9to5Mac.Apple (AAPL) shares rose slightly less than 0.5% to $136.24 in late-day trading on Wednesday.In May, Apple (AAPL)reportedly showed its mixed reality headset, which includes both AR and VR technologies, to its board of directors, suggesting that it is at an \"advanced stage.\"Late last year, TF International Securities analyst Ming-Chi Kuo said that Apple (AAPL) was already working on the second-version of its headset, which could launch as soon as 2024.Wedbush Securities recently reiterated that Apple (AAPL) is one of its top three stocks in the tech sector, reminding investors to focus on \"secular winners.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9051383179,"gmtCreate":1654645634791,"gmtModify":1676535483071,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9051383179","repostId":"2241388884","repostType":4,"repost":{"id":"2241388884","kind":"highlight","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":1654643153,"share":"https://ttm.financial/m/news/2241388884?lang=&edition=fundamental","pubTime":"2022-06-08 07:05","market":"us","language":"en","title":"US STOCKS-Wall St Jumps with Tech, Energy; Target News Weighs on Retailers","url":"https://stock-news.laohu8.com/highlight/detail?id=2241388884","media":"Reuters","summary":"* Target's margin cut hits some retail stocks* Kohl's climbs on sale talks with Franchise Group* Ind","content":"<html><head></head><body><p>* Target&#39;s margin cut hits some retail stocks</p><p>* Kohl&#39;s climbs on sale talks with Franchise Group</p><p>* Indexes: Dow up 0.8%, S&amp;P 500 up 1%, Nasdaq up 0.9%</p><p>NEW YORK, June 7 (Reuters) - U.S. stocks rallied late on Tuesday to end higher for a second straight day as technology and energy shares gained, while Target Corp&#39;s warning about excess inventory weighed on retail stocks for much of the session.</p><p>Apple Inc    shares climbed 1.8% despite news earlier in the day that the company must change the connector on iPhones sold in Europe by 2024 after EU countries and lawmakers agreed to a single charging port for mobile phones, tablets and cameras.</p><p>The S&amp;P 500 technology index  rose 1% and gave the benchmark index its biggest boost. Microsoft Corp    shares added 1.4%.</p><p>The S&amp;P 500 energy sector index  jumped 3.1% to end at its highest level since 2014, with oil prices sharply higher.</p><p>At the same time, shares of Target Corp    fell 2.3% after the retailer said it would have to offer deeper discounts and cut back on stocking discretionary items.</p><p>Equity trading was choppy, with indexes down early in the day, but the market has been recovering from recent steep losses.</p><p>Recently, &#34;we&#39;ve had a nice bounce ... and in general investors are feeling better right now. But we are very much in a seesaw market as we&#39;ve seen all year,&#34; said Tim Ghriskey, senior portfolio strategist at Ingalls &amp; Snyder in New York.</p><p>&#34;At some point, we will put in a bottom, and the market will move higher. We have a hard time believing that&#39;s any time soon, given a number of fundamental issues overhanging the market,&#34; he said. &#34;Certainly what we&#39;ve seen today from Target isn&#39;t good news in terms of the consumer.&#34;</p><p>Long-dated U.S. Treasury yields tumbled after the Target news, however, as it fueled some speculation that the worst of inflation may be in the past.</p><p>The Dow Jones Industrial Average    rose 264.36 points, or 0.8%, to 33,180.14, the S&amp;P 500    gained 39.25 points, or 0.95%, to 4,160.68 and the Nasdaq Composite    added 113.86 points, or 0.94%, to 12,175.23.</p><p>Shares of Walmart    fell 1.2%, and the S&amp;P retail index  was down 1%.</p><p>Consumer price data on Friday is expected to show that inflation remained elevated in May, though core consumer prices, which exclude the volatile food and energy sectors, likely ticked down on an annual basis.</p><p>Not all retailers were in the red. Kohl&#39;s Corp    shares jumped 9.5% after news the department store chain entered exclusive talks with retail store operator <a href=\"https://laohu8.com/S/FRG\">Franchise Group Inc</a> over a potential sale that would value it at nearly $8 billion.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.36-to-1 ratio; on Nasdaq, a 1.69-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 3 new 52-week highs and 30 new lows; the Nasdaq Composite recorded 35 new highs and 121 new lows.</p><p>Volume on U.S. exchanges was 10.38 billion shares, compared with the 12.50 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>US STOCKS-Wall St Jumps with Tech, Energy; Target News Weighs on Retailers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall St Jumps with Tech, Energy; Target News Weighs on Retailers\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\">2022-06-08 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Target&#39;s margin cut hits some retail stocks</p><p>* Kohl&#39;s climbs on sale talks with Franchise Group</p><p>* Indexes: Dow up 0.8%, S&amp;P 500 up 1%, Nasdaq up 0.9%</p><p>NEW YORK, June 7 (Reuters) - U.S. stocks rallied late on Tuesday to end higher for a second straight day as technology and energy shares gained, while Target Corp&#39;s warning about excess inventory weighed on retail stocks for much of the session.</p><p>Apple Inc    shares climbed 1.8% despite news earlier in the day that the company must change the connector on iPhones sold in Europe by 2024 after EU countries and lawmakers agreed to a single charging port for mobile phones, tablets and cameras.</p><p>The S&amp;P 500 technology index  rose 1% and gave the benchmark index its biggest boost. Microsoft Corp    shares added 1.4%.</p><p>The S&amp;P 500 energy sector index  jumped 3.1% to end at its highest level since 2014, with oil prices sharply higher.</p><p>At the same time, shares of Target Corp    fell 2.3% after the retailer said it would have to offer deeper discounts and cut back on stocking discretionary items.</p><p>Equity trading was choppy, with indexes down early in the day, but the market has been recovering from recent steep losses.</p><p>Recently, &#34;we&#39;ve had a nice bounce ... and in general investors are feeling better right now. But we are very much in a seesaw market as we&#39;ve seen all year,&#34; said Tim Ghriskey, senior portfolio strategist at Ingalls &amp; Snyder in New York.</p><p>&#34;At some point, we will put in a bottom, and the market will move higher. We have a hard time believing that&#39;s any time soon, given a number of fundamental issues overhanging the market,&#34; he said. &#34;Certainly what we&#39;ve seen today from Target isn&#39;t good news in terms of the consumer.&#34;</p><p>Long-dated U.S. Treasury yields tumbled after the Target news, however, as it fueled some speculation that the worst of inflation may be in the past.</p><p>The Dow Jones Industrial Average    rose 264.36 points, or 0.8%, to 33,180.14, the S&amp;P 500    gained 39.25 points, or 0.95%, to 4,160.68 and the Nasdaq Composite    added 113.86 points, or 0.94%, to 12,175.23.</p><p>Shares of Walmart    fell 1.2%, and the S&amp;P retail index  was down 1%.</p><p>Consumer price data on Friday is expected to show that inflation remained elevated in May, though core consumer prices, which exclude the volatile food and energy sectors, likely ticked down on an annual basis.</p><p>Not all retailers were in the red. Kohl&#39;s Corp    shares jumped 9.5% after news the department store chain entered exclusive talks with retail store operator <a href=\"https://laohu8.com/S/FRG\">Franchise Group Inc</a> over a potential sale that would value it at nearly $8 billion.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 2.36-to-1 ratio; on Nasdaq, a 1.69-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 3 new 52-week highs and 30 new lows; the Nasdaq Composite recorded 35 new highs and 121 new lows.</p><p>Volume on U.S. exchanges was 10.38 billion shares, compared with the 12.50 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":{"BK4114":"综合货品商店",".SPX":"S&P 500 Index","BK4532":"文艺复兴科技持仓","TGT":"塔吉特",".DJI":"道琼斯","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4504":"桥水持仓",".IXIC":"NASDAQ Composite","MSFT":"微软"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2241388884","content_text":"* Target's margin cut hits some retail stocks* Kohl's climbs on sale talks with Franchise Group* Indexes: Dow up 0.8%, S&P 500 up 1%, Nasdaq up 0.9%NEW YORK, June 7 (Reuters) - U.S. stocks rallied late on Tuesday to end higher for a second straight day as technology and energy shares gained, while Target Corp's warning about excess inventory weighed on retail stocks for much of the session.Apple Inc    shares climbed 1.8% despite news earlier in the day that the company must change the connector on iPhones sold in Europe by 2024 after EU countries and lawmakers agreed to a single charging port for mobile phones, tablets and cameras.The S&P 500 technology index  rose 1% and gave the benchmark index its biggest boost. Microsoft Corp    shares added 1.4%.The S&P 500 energy sector index  jumped 3.1% to end at its highest level since 2014, with oil prices sharply higher.At the same time, shares of Target Corp    fell 2.3% after the retailer said it would have to offer deeper discounts and cut back on stocking discretionary items.Equity trading was choppy, with indexes down early in the day, but the market has been recovering from recent steep losses.Recently, \"we've had a nice bounce ... and in general investors are feeling better right now. But we are very much in a seesaw market as we've seen all year,\" said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.\"At some point, we will put in a bottom, and the market will move higher. We have a hard time believing that's any time soon, given a number of fundamental issues overhanging the market,\" he said. \"Certainly what we've seen today from Target isn't good news in terms of the consumer.\"Long-dated U.S. Treasury yields tumbled after the Target news, however, as it fueled some speculation that the worst of inflation may be in the past.The Dow Jones Industrial Average    rose 264.36 points, or 0.8%, to 33,180.14, the S&P 500    gained 39.25 points, or 0.95%, to 4,160.68 and the Nasdaq Composite    added 113.86 points, or 0.94%, to 12,175.23.Shares of Walmart    fell 1.2%, and the S&P retail index  was down 1%.Consumer price data on Friday is expected to show that inflation remained elevated in May, though core consumer prices, which exclude the volatile food and energy sectors, likely ticked down on an annual basis.Not all retailers were in the red. Kohl's Corp    shares jumped 9.5% after news the department store chain entered exclusive talks with retail store operator Franchise Group Inc over a potential sale that would value it at nearly $8 billion.Advancing issues outnumbered declining ones on the NYSE by a 2.36-to-1 ratio; on Nasdaq, a 1.69-to-1 ratio favored advancers.The S&P 500 posted 3 new 52-week highs and 30 new lows; the Nasdaq Composite recorded 35 new highs and 121 new lows.Volume on U.S. exchanges was 10.38 billion shares, compared with the 12.50 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":17,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045378161,"gmtCreate":1656569081753,"gmtModify":1676535855809,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045378161","repostId":"1121505043","repostType":4,"repost":{"id":"1121505043","kind":"news","pubTimestamp":1656561665,"share":"https://ttm.financial/m/news/1121505043?lang=&edition=fundamental","pubTime":"2022-06-30 12:01","market":"us","language":"en","title":"NIO: Questions And Challenges To The Grizzly Short-Seller Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1121505043","media":"seekingalpha","summary":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is f","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Short-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.</li><li>The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.</li><li>The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly&#39;s claims of financial manipulation at NIO.</li><li>However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO&#39;s BaaS operations.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/346379c1e5a1a4087e614ef0b8a18caa\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/><span>Drew Angerer/Getty Images News</span></p><p>Grizzly Research (&#34;Grizzly&#34;) has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.</p><p>While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.</p><p><b>Accounting Crash Course: NIO’s BaaS Revenue Recognition Method</b></p><p>Through publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.</p><p>In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.</p><p>Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.</p><p>Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b533b2a1e657134b3b33f231c2b11f74\" tg-width=\"640\" tg-height=\"292\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Related Party Disclosures (IAS)</span></p><p>Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d726db76c4884663e28c157208e5cd77\" tg-width=\"640\" tg-height=\"150\" referrerpolicy=\"no-referrer\"/><span>NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)</span></p><p>In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4bf30456c1ff78b902edfa34d719f150\" tg-width=\"598\" tg-height=\"175\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p>This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.</p><p>Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.</p><p><b>Grizzly’s Core Short Thesis</b></p><p>Grizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).</p><p>In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.</p><p>In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:</p><p><b>Opportunity:</b>As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.</p><p>The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.</p><p><b>Incentive:</b>Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.</p><p>Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.</p><p><b>Rationalization:</b>The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.</p><p>NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.</p><p><b>Challenging Grizzly’s Conclusion on “Control” Established by NIO Over Weineng</b></p><p>In addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.</p><p>First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.</p><p>Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/505c64f7bc18c02131dd830e5f2a5462\" tg-width=\"640\" tg-height=\"260\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Investments in Associates and Joint Ventures (IAS)</span></p><p>Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:</p><p>1. “<b>Power</b>” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.</p><p>2. Exposure to<i>variable returns</i>from the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.</p><p>As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.</p><p>Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established in<i>Internal Control – Integrated Framework</i>(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.</p><p>3. The acquiring party is a<i>principal</i>in the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:</p><ul><li>Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.</li><li>The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.</li><li>In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section<i>(r) Revenue recognition</i>in the 2021 20F.</li><li>As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.</li></ul><p><b>Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit Inflation</b></p><p>Grizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:</p><p><b>1. Frontloaded Revenue via Battery Sales to Weineng</b></p><p><b>Grizzly’s accusation.</b>As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.</p><p>Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.</p><p>Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21e7d58b24ac2bde6344b4206ef9be8e\" tg-width=\"592\" tg-height=\"395\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)</span></p><p>As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.</p><p>The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.</p><p>To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.</p><p><b>Issue with Grizzly’s claim.</b>In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.</p><p>While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).</p><p>When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.</p><p><b>Livy’s revised calculation of quantified impacts.</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/324a74d6eeeb60a4bd2da9251d4d6ed8\" tg-width=\"640\" tg-height=\"416\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Revenue and Income Variances Pertaining to NIO&#39;s Alleged Frontloading of BaaS Sales (Author)</span></p><p>The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.</p><p><b>2. Revenues from Oversupplied Batteries to Weineng</b></p><p><b>Grizzly’s accusation.</b>Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.</p><p>However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.</p><p>While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.</p><p><b>Livy’s response.</b>While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.</p><p>Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.</p><p>There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.</p><p><b>Grizzly’s calculation of quantified impacts.</b>In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2497da8272eec2b6020c07b7ee06b1f\" tg-width=\"580\" tg-height=\"420\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)</span></p><p>In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.</p><p>Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.</p><p>We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.</p><p><b>3. Shifting Depreciation Costs</b></p><p><b>Grizzly’s Accusations.</b>Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.</p><p>Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.</p><p>Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.</p><p><b>Issue with Grizzly’s claim.</b>There are two folds to this situation:</p><p><b>1. BaaS Business Model:</b>Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e89611dda7a7e83881997628fe7aae3\" tg-width=\"640\" tg-height=\"187\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p><b>2. Battery Sales Business Model:</b>in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.</p><p>As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.</p><p>If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/96f972c8d488406cd690b0672265e62b\" tg-width=\"576\" tg-height=\"498\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Total Revenue and Income Inflation (Grizzly Research)</span></p><p>As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.</p><p><b>Livy’s revised calculation of quantified impacts.</b>While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.</p><p>Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1ffe9833bb562f66e5365e077d7741d4\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/230a54833c34b3a9920a03524c28e960\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccf9a3a0482b46cee102e66d5137113f\" tg-width=\"640\" tg-height=\"220\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Revenue Overstatement (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c7ec5a61d7fd491aec81d9a48a92020\" tg-width=\"640\" tg-height=\"188\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatement in Net Income (Author)</span></p><p>Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (&lt; 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.</p><p><b>Final Thoughts</b></p><p>As discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).</p><p>While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.</p><p>At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.</p><p>This article was written by Livy Investment Research</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO: Questions And Challenges To The Grizzly Short-Seller Report</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\">\nNIO: Questions And Challenges To The Grizzly Short-Seller Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-30 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09866":"蔚来-SW","NIO":"蔚来","NIO.SI":"蔚来"},"source_url":"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121505043","content_text":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly's claims of financial manipulation at NIO.However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO's BaaS operations.Drew Angerer/Getty Images NewsGrizzly Research (\"Grizzly\") has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.Accounting Crash Course: NIO’s BaaS Revenue Recognition MethodThrough publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:GAAP Rules on Related Party Disclosures (IAS)Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:Journal Entries for Battery Sales Business Model (Author)In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:Journal Entries for BaaS Business Model (Author)This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.Grizzly’s Core Short ThesisGrizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:Opportunity:As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.Incentive:Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.Rationalization:The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.Challenging Grizzly’s Conclusion on “Control” Established by NIO Over WeinengIn addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:GAAP Rules on Investments in Associates and Joint Ventures (IAS)Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:1. “Power” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.2. Exposure tovariable returnsfrom the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established inInternal Control – Integrated Framework(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.3. The acquiring party is aprincipalin the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section(r) Revenue recognitionin the 2021 20F.As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit InflationGrizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:1. Frontloaded Revenue via Battery Sales to WeinengGrizzly’s accusation.As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.Grizzly’s calculation of quantified impacts.Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:Grizzly's Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.Issue with Grizzly’s claim.In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.Livy’s revised calculation of quantified impacts.Livy's Computation of Revenue and Income Variances Pertaining to NIO's Alleged Frontloading of BaaS Sales (Author)The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.2. Revenues from Oversupplied Batteries to WeinengGrizzly’s accusation.Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.Livy’s response.While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.Grizzly’s calculation of quantified impacts.In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:Grizzly's Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.3. Shifting Depreciation CostsGrizzly’s Accusations.Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.Issue with Grizzly’s claim.There are two folds to this situation:1. BaaS Business Model:Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:Journal Entries for BaaS Business Model (Author)2. Battery Sales Business Model:in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:Journal Entries for Battery Sales Business Model (Author)Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.Grizzly’s calculation of quantified impacts.Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:Grizzly's Computation of Total Revenue and Income Inflation (Grizzly Research)As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.Livy’s revised calculation of quantified impacts.While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:Livy's Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)Livy's Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)Livy's Computation of Alleged Revenue Overstatement (Author)Livy's Computation of Alleged Overstatement in Net Income (Author)Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (< 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.Final ThoughtsAs discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.This article was written by Livy Investment Research","news_type":1},"isVote":1,"tweetType":1,"viewCount":469,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9059738512,"gmtCreate":1654428554336,"gmtModify":1676535446324,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Nice information&nbsp;","listText":"Nice information&nbsp;","text":"Nice information","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9059738512","repostId":"1133091781","repostType":4,"repost":{"id":"1133091781","kind":"news","pubTimestamp":1654390809,"share":"https://ttm.financial/m/news/1133091781?lang=&edition=fundamental","pubTime":"2022-06-05 09:00","market":"us","language":"en","title":"Apple: What to Look Out for at the Upcoming WWDC 2022 Event","url":"https://stock-news.laohu8.com/highlight/detail?id=1133091781","media":"TipRanks","summary":"Upside of 32%.Turning now to the rest of the Street, where the average target clocks in at $186.45 and factors in 12-month gains of 28%. Looking at the ratings, based on 21 Buys vs. 6 Holds, the analyst consensus rates the stock a Strong Buy.","content":"<div>\n<p>Apple’s (AAPL)annual WWDC (Worldwide Developers Conference) will take place throughout next week and the tech giant’s global fanbase will get an opportunity to find out what products Apple plans on ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/apple-what-to-look-out-for-at-the-upcoming-wwdc-2022-event/\">Web Link</a>\n\n</div>\n","source":"lsy1606183248679","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple: What to Look Out for at the Upcoming WWDC 2022 Event</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nApple: What to Look Out for at the Upcoming WWDC 2022 Event\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-05 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/apple-what-to-look-out-for-at-the-upcoming-wwdc-2022-event/><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple’s (AAPL)annual WWDC (Worldwide Developers Conference) will take place throughout next week and the tech giant’s global fanbase will get an opportunity to find out what products Apple plans on ...</p>\n\n<a href=\"https://www.tipranks.com/news/article/apple-what-to-look-out-for-at-the-upcoming-wwdc-2022-event/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.tipranks.com/news/article/apple-what-to-look-out-for-at-the-upcoming-wwdc-2022-event/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133091781","content_text":"Apple’s (AAPL)annual WWDC (Worldwide Developers Conference) will take place throughout next week and the tech giant’s global fanbase will get an opportunity to find out what products Apple plans on bringing to market.iOS 16, the latest version of Apple’s mobile operating system is expected to get an introduction with the lock screen, messaging and health all boasting meaningful upgrades.Wedbush analyst Daniel Ives also thinks the next major Apple Watch OS will be announced along with a new MacBook Air 2022 version.But Ives anticipates some other, more intriguing surprises, ones which are non-software related. “We importantly believe that Cook & Co. will hit on a number of AR/VR technologies to developers that the company plans to introduce and ultimately this strategy is laying the breadcrumbs to the highly anticipated AR headset Apple Glasses set to make its debut likely before holiday season or latest early 2023 based on the supply trajectory,” the 5-star analyst said.Eying the metaverse opportunity in a big way, the Apple Glass AR/VR technology will be a “key broadening out of the Apple ecosystem.”But the metaverse is not the only target Apple has set its sights on. Having decided not to bring a movie studio under the fold, Ives thinks Apple is keen to add more live sports to its roster of services. The company has already bought the rights for MLB Friday Night baseball package games for the next few years and along with Amazon, Ives says it is “widely viewed” in the industry the pair were in the final bidding for the NFL Sunday Ticket.This should be a multi-billion-dollar annual deal ($2.5 billion+) and a “landmark” for the company, with the package seen as the “crown jewel” for streaming live sports content. Should Apple win it, it will further strengthen its position in the streaming arms race,” one which has already been boosted by the Oscar win of CODA and success of other recent offerings (Ted Lasso, The Morning Show, Severance).To this end, Ives reiterated an Outperform (i.e., Buy) rating backed by a $200 price target. The implication for investors? Upside of 32%.Turning now to the rest of the Street, where the average target clocks in at $186.45 and factors in 12-month gains of 28%. Looking at the ratings, based on 21 Buys vs. 6 Holds, the analyst consensus rates the stock a Strong Buy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":5,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9049112441,"gmtCreate":1655769163483,"gmtModify":1676535699621,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9049112441","repostId":"1134066941","repostType":4,"repost":{"id":"1134066941","kind":"news","pubTimestamp":1655766811,"share":"https://ttm.financial/m/news/1134066941?lang=&edition=fundamental","pubTime":"2022-06-21 07:13","market":"us","language":"en","title":"Tesla: Battery May Create A Winner-Take-All Situation","url":"https://stock-news.laohu8.com/highlight/detail?id=1134066941","media":"Seeking Alpha","summary":"SummaryInvesting in nonlinear stocks like Tesla is all about anticipating nonlinear effects.And an e","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Investing in nonlinear stocks like Tesla is all about anticipating nonlinear effects.</li><li>And an effective way involves drawing analogies from other nonlinear situations, especially situations with a wide range and variety.</li><li>The thesis, therefore, is to analyze the similarities between the current EV battery situation and the QWERTY keyboards in the typewriter industry.</li><li>The lack of standardization and the convolution of many non-technical factors can potentially create a winner-take-all situation.</li></ul><p><b>Thesis</b></p><p>Investing in nonlinear stocks like Tesla (NASDAQ:TSLA) is all about anticipating nonlinear effects. Investors not only need to have the ability to see around the corner but also need to do so before most people. However, to say this is hard is simply a truism. And a &#34;trick&#34; I find effective in analyzing nonlinear situations is to draw analogies from another nonlinear situation. I, of course, did not invent this trick. Others have discussed it in length, and books have been written about it. A recent one that I found very readable is David Epstein&#39;s bestseller entitled<i>&#34;Range: Why Generalists Triumph in a Specialized World&#34;</i>. Highly recommended.</p><p>Now, the art of drawing analogies lies in the <i>range</i>(hence the title of Epstein&#39;s book). Drawing analogies from similar situations does not help too much. We need to draw analogies from situations with <i>range</i>. Citing an example from his book, if you try to analyze the new competing landscape amid M&amp;As in a dynamic market, analyzing &#34;similar&#34; M&amp;As won&#39;t be too helpful. Most likely, there are no &#34;similar&#34; prior examples. It is more helpful to draw analogies from a completely different domain, for example, the power struggle of countries during a dynamic time (say Europe during the 1500s and 1600s).</p><p>Now, back to TSLA. The thesis is to analyze the current situation between its battery production and the QWERTY keyboards. Despite (or thanks to) the wide range of these two examples, you will see the central argument is that due to the lack of standardization, the battery issue potentially creates a winner-take-all situation in EV space, just like the QWERTY keyboard did in the keyboard space. Note that the thesis is not to argue if such potential is good or bad. Whether the dominance of the QWERTY keyboard is good or bad depends on your perspective and historical context. The thesis is just that there is such a potential and TSLA is one of the main contenders, thus creating an investment opportunity with enormous upside.</p><p><b>QWERTY Keyboard and EV Battery</b></p><p>A bit of background on the QWERTY keyboard first - in the off chance that some readers never paid attention to its history. The QWERTY design was designed for typewriters and became popular in 1878. It has remained in ubiquitous use since then. Before it became popular, there was a multitude of contemporary alternatives. But once it did, it dominated and became the <i>only</i> one left.</p><p>Now, back again to TSLA and batteries. A few key similarities here. First, the battery issue now, just like the keyboard design in the 1870s, lacks standardization and there is a multitude of alternative designs. TSLA itself has used and is still using multiple cell designs (18650, 2170, and more recently 4680), and it is unlikely that the EV industry will reach a standardization agreement anytime soon.</p><p>Second, the battery issue is crucial to the EV industry, just like the keyboard design is to the typewriter industry. We will elaborate more on the importance later.</p><p>Third, the winner does not have to be the &#34;best&#34; design, just like in the typewriter case. Many readers try to analyze the technical superiority of battery design A vs B. But the matter of fact is that in a highly nonlinear and dynamic market, many factors besides technical superiority contribute and convolute. Furthermore, once dominance is established, it sticks. The QWERTY keyboard in a sense is the least efficient design for modern computers, but this does not stop it from being <i>the</i> standard keyboard today when jamming the keys is a concern at all.</p><p><b>TSLA&#39;s Battery Plan</b></p><p>Let&#39;s discuss the crucial role of the battery issue in the EV industry. Simply put, it is <i>the</i> bottleneck issue. In my view, our EV problem equals a battery problem. TSLA (and other EV players too) recognized the issue a long time ago. For example, back in its 2020 Battery Day presentation, TSLA announced a battery plan to improve design, build its own cells, and better integrate the cells into the vehicle.</p><p><img src=\"https://static.tigerbbs.com/ff981e3a652331155c7f5886da20e486\" tg-width=\"640\" tg-height=\"312\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>TSLA Investor Presentation</p><p>Fast-forward to 2022, TSLA celebrated its one-millionth 4680 cell production earlier in the year, as you can see from the following Twitter message sent out by Elon Musk. It&#39;s a baby step, admittedly. Each Model Y needs about 1k of these cells. So 1 million 4680 cells are only enough for about 1,000 Model Ys. But it is a good start. Because the next steps can be so nonlinear that a small step can create far-fetching ripple effects, as discussed next.</p><p><img src=\"https://static.tigerbbs.com/94210d04b6183bf77eef16f988b8f857\" tg-width=\"640\" tg-height=\"557\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>TSLA Official Twitter</p><p><b>Nonlinear Effects of Battery</b></p><p>First, some technical background. Compared to the earlier 2170 cells, each 4680 cell is about 5x large in volume and can, therefore, hold about 5x the energy of each 2170 cell. Regarding the 4680 cells, a common comment from readers to my other battery article involves a zero-sum counter-argument. Since each 4680 cell is 5x larger than 2170 cells in volume and only delivers 5x more energy, are they not the same? In terms of material cost, manufacturing cost, weight, et al?</p><p>My answer is no because of the second-order effects. Not all the components scale equally. For example, the weight of the steel casings is less in the 4680 which would allow greater amounts of active components (it has to do with the surface area/volume ratio, a detail best left for the comment section). Furthermore, 5x more energy means 5x fewer <i>numbers</i> of cells used per vehicle. When the number of cells decreases, the use of connectors, assemble difficulty, and logistics all decrease. In the end, the 4680 cells can deliver 6x the power (the distinction between energy and power is again best left for the comments) and boost the driving range by 16%.</p><p>Then there are even higher-order effects and non-technical effects (well, maybe still technical, just beyond the range of battery technicalities). For example, the in-house production of 4680 cells can lead to more streamlined battery-vehicle integration. Further down the road, battery-software integration would be the next logical step toward driving range optimization and even autonomous driving.</p><p><img src=\"https://static.tigerbbs.com/31b141b337b16ad62a5734d606f84b89\" tg-width=\"640\" tg-height=\"346\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>TSLA Investor Presentation</p><p><b>Final Thoughts and Risks</b></p><p>In my view, our EV problem is a battery problem. And the battery problem has the potential to create a win-take-all situation in the EV space, just like the QWERTY keyboard did for typewriters. These two situations share many similarities: notably the lack of standardization and the convolution of many non-technical factors. TSLA&#39;s in-house production of the 4680 cells is admittedly a small step on the battery front. But it creates the potential to trigger other high-order effects. I view it as a bullish catalyst, and it puts TSLA in a more advantageous position as a contender.</p><p>TSLA faces many risks, both in terms of its batteries and beyond.</p><p>It is currently facing supply chain constraints and rising costs (especially on raw materials and electronics for batteries). As a result, it has just announced significant increases of the prices of EVs with some models going up by as much as $6,000. Whether these price increases can work out successfully or not remains to be seen.</p><p>Economies-of-scale is a limiting factor to reduce battery costs, and TSLA&#39;s 4680 cells have not reached this critical scale yet (far away from it). The earlier 18650 cells, for example, have taken billions of units produced to make them economically attractive to a wide range of producers and end-users.</p><p>TSLA&#39;s vertical integration plan in the battery space also faces uncertainties and competition. On its 2020 Battery Day, TSLA announced its planned entry into lithium mining. The plan was to start with buying lithium claims on 10,000 acres in Nevada. But nothing has really happened so far (while other players including Berkshire Hathaway (BRK.A) (BRK.B) have been actively developing lithium extraction techniques and facilities). AndMusk Twittedrecently about &#34;actually&#34; getting on with this (the emphases were added by me):</p><blockquote>&#34;Price of lithium has gone to insane levels! Tesla<b>might actually have to</b>get into the mining and refining directly at scale, unless costs improve. There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow.&#34;</blockquote></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: Battery May Create A Winner-Take-All Situation</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: Battery May Create A Winner-Take-All Situation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-21 07:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4519360-tesla-tsla-battery-may-create-winner-take-all-situation?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryInvesting in nonlinear stocks like Tesla is all about anticipating nonlinear effects.And an effective way involves drawing analogies from other nonlinear situations, especially situations with ...</p>\n\n<a href=\"https://seekingalpha.com/article/4519360-tesla-tsla-battery-may-create-winner-take-all-situation?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4519360-tesla-tsla-battery-may-create-winner-take-all-situation?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134066941","content_text":"SummaryInvesting in nonlinear stocks like Tesla is all about anticipating nonlinear effects.And an effective way involves drawing analogies from other nonlinear situations, especially situations with a wide range and variety.The thesis, therefore, is to analyze the similarities between the current EV battery situation and the QWERTY keyboards in the typewriter industry.The lack of standardization and the convolution of many non-technical factors can potentially create a winner-take-all situation.ThesisInvesting in nonlinear stocks like Tesla (NASDAQ:TSLA) is all about anticipating nonlinear effects. Investors not only need to have the ability to see around the corner but also need to do so before most people. However, to say this is hard is simply a truism. And a \"trick\" I find effective in analyzing nonlinear situations is to draw analogies from another nonlinear situation. I, of course, did not invent this trick. Others have discussed it in length, and books have been written about it. A recent one that I found very readable is David Epstein's bestseller entitled\"Range: Why Generalists Triumph in a Specialized World\". Highly recommended.Now, the art of drawing analogies lies in the range(hence the title of Epstein's book). Drawing analogies from similar situations does not help too much. We need to draw analogies from situations with range. Citing an example from his book, if you try to analyze the new competing landscape amid M&As in a dynamic market, analyzing \"similar\" M&As won't be too helpful. Most likely, there are no \"similar\" prior examples. It is more helpful to draw analogies from a completely different domain, for example, the power struggle of countries during a dynamic time (say Europe during the 1500s and 1600s).Now, back to TSLA. The thesis is to analyze the current situation between its battery production and the QWERTY keyboards. Despite (or thanks to) the wide range of these two examples, you will see the central argument is that due to the lack of standardization, the battery issue potentially creates a winner-take-all situation in EV space, just like the QWERTY keyboard did in the keyboard space. Note that the thesis is not to argue if such potential is good or bad. Whether the dominance of the QWERTY keyboard is good or bad depends on your perspective and historical context. The thesis is just that there is such a potential and TSLA is one of the main contenders, thus creating an investment opportunity with enormous upside.QWERTY Keyboard and EV BatteryA bit of background on the QWERTY keyboard first - in the off chance that some readers never paid attention to its history. The QWERTY design was designed for typewriters and became popular in 1878. It has remained in ubiquitous use since then. Before it became popular, there was a multitude of contemporary alternatives. But once it did, it dominated and became the only one left.Now, back again to TSLA and batteries. A few key similarities here. First, the battery issue now, just like the keyboard design in the 1870s, lacks standardization and there is a multitude of alternative designs. TSLA itself has used and is still using multiple cell designs (18650, 2170, and more recently 4680), and it is unlikely that the EV industry will reach a standardization agreement anytime soon.Second, the battery issue is crucial to the EV industry, just like the keyboard design is to the typewriter industry. We will elaborate more on the importance later.Third, the winner does not have to be the \"best\" design, just like in the typewriter case. Many readers try to analyze the technical superiority of battery design A vs B. But the matter of fact is that in a highly nonlinear and dynamic market, many factors besides technical superiority contribute and convolute. Furthermore, once dominance is established, it sticks. The QWERTY keyboard in a sense is the least efficient design for modern computers, but this does not stop it from being the standard keyboard today when jamming the keys is a concern at all.TSLA's Battery PlanLet's discuss the crucial role of the battery issue in the EV industry. Simply put, it is the bottleneck issue. In my view, our EV problem equals a battery problem. TSLA (and other EV players too) recognized the issue a long time ago. For example, back in its 2020 Battery Day presentation, TSLA announced a battery plan to improve design, build its own cells, and better integrate the cells into the vehicle.TSLA Investor PresentationFast-forward to 2022, TSLA celebrated its one-millionth 4680 cell production earlier in the year, as you can see from the following Twitter message sent out by Elon Musk. It's a baby step, admittedly. Each Model Y needs about 1k of these cells. So 1 million 4680 cells are only enough for about 1,000 Model Ys. But it is a good start. Because the next steps can be so nonlinear that a small step can create far-fetching ripple effects, as discussed next.TSLA Official TwitterNonlinear Effects of BatteryFirst, some technical background. Compared to the earlier 2170 cells, each 4680 cell is about 5x large in volume and can, therefore, hold about 5x the energy of each 2170 cell. Regarding the 4680 cells, a common comment from readers to my other battery article involves a zero-sum counter-argument. Since each 4680 cell is 5x larger than 2170 cells in volume and only delivers 5x more energy, are they not the same? In terms of material cost, manufacturing cost, weight, et al?My answer is no because of the second-order effects. Not all the components scale equally. For example, the weight of the steel casings is less in the 4680 which would allow greater amounts of active components (it has to do with the surface area/volume ratio, a detail best left for the comment section). Furthermore, 5x more energy means 5x fewer numbers of cells used per vehicle. When the number of cells decreases, the use of connectors, assemble difficulty, and logistics all decrease. In the end, the 4680 cells can deliver 6x the power (the distinction between energy and power is again best left for the comments) and boost the driving range by 16%.Then there are even higher-order effects and non-technical effects (well, maybe still technical, just beyond the range of battery technicalities). For example, the in-house production of 4680 cells can lead to more streamlined battery-vehicle integration. Further down the road, battery-software integration would be the next logical step toward driving range optimization and even autonomous driving.TSLA Investor PresentationFinal Thoughts and RisksIn my view, our EV problem is a battery problem. And the battery problem has the potential to create a win-take-all situation in the EV space, just like the QWERTY keyboard did for typewriters. These two situations share many similarities: notably the lack of standardization and the convolution of many non-technical factors. TSLA's in-house production of the 4680 cells is admittedly a small step on the battery front. But it creates the potential to trigger other high-order effects. I view it as a bullish catalyst, and it puts TSLA in a more advantageous position as a contender.TSLA faces many risks, both in terms of its batteries and beyond.It is currently facing supply chain constraints and rising costs (especially on raw materials and electronics for batteries). As a result, it has just announced significant increases of the prices of EVs with some models going up by as much as $6,000. Whether these price increases can work out successfully or not remains to be seen.Economies-of-scale is a limiting factor to reduce battery costs, and TSLA's 4680 cells have not reached this critical scale yet (far away from it). The earlier 18650 cells, for example, have taken billions of units produced to make them economically attractive to a wide range of producers and end-users.TSLA's vertical integration plan in the battery space also faces uncertainties and competition. On its 2020 Battery Day, TSLA announced its planned entry into lithium mining. The plan was to start with buying lithium claims on 10,000 acres in Nevada. But nothing has really happened so far (while other players including Berkshire Hathaway (BRK.A) (BRK.B) have been actively developing lithium extraction techniques and facilities). AndMusk Twittedrecently about \"actually\" getting on with this (the emphases were added by me):\"Price of lithium has gone to insane levels! Teslamight actually have toget into the mining and refining directly at scale, unless costs improve. There is no shortage of the element itself, as lithium is almost everywhere on Earth, but pace of extraction/refinement is slow.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9027630075,"gmtCreate":1654034485097,"gmtModify":1676535379748,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"What is the purpose of this report","listText":"What is the purpose of this report","text":"What is the purpose of this report","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9027630075","repostId":"1135993434","repostType":4,"repost":{"id":"1135993434","kind":"news","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":1654006223,"share":"https://ttm.financial/m/news/1135993434?lang=&edition=fundamental","pubTime":"2022-05-31 22:10","market":"us","language":"en","title":"US EV Stocks Slipped in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1135993434","media":"Tiger Newspress","summary":"US EV stocks slipped in morning trading. Tesla, Lucid, Rivian, Nikola, Canoo and Arrival fell betwee","content":"<html><head></head><body><p>US EV stocks slipped in morning trading. Tesla, Lucid, Rivian, Nikola, Canoo and Arrival fell between 2% and 4%.<img src=\"https://static.tigerbbs.com/f6d7f2854ffc43a7d9e813c2c5308dc7\" tg-width=\"291\" tg-height=\"360\" 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>US EV Stocks Slipped 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\">\nUS EV Stocks Slipped 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\">2022-05-31 22:10</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>US EV stocks slipped in morning trading. Tesla, Lucid, Rivian, Nikola, Canoo and Arrival fell between 2% and 4%.<img src=\"https://static.tigerbbs.com/f6d7f2854ffc43a7d9e813c2c5308dc7\" tg-width=\"291\" tg-height=\"360\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","RIVN":"Rivian Automotive, Inc.","NKLA":"Nikola Corporation"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135993434","content_text":"US EV stocks slipped in morning trading. Tesla, Lucid, Rivian, Nikola, Canoo and Arrival fell between 2% and 4%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":5,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4099302906769020","authorId":"4099302906769020","name":"L.Lim","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"idStr":"4099302906769020","authorIdStr":"4099302906769020"},"content":"because EV stocks (and EVs) is supposed to be the next big and revolutionary thing. but apart from a couple of names on the list, the others haven't truly produced a vehicle to...","text":"because EV stocks (and EVs) is supposed to be the next big and revolutionary thing. but apart from a couple of names on the list, the others haven't truly produced a vehicle to...","html":"because EV stocks (and EVs) is supposed to be the next big and revolutionary thing. but apart from a couple of names on the list, the others haven't truly produced a vehicle to..."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9029703437,"gmtCreate":1652829614129,"gmtModify":1676535168051,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Sounds good.&nbsp;","listText":"Sounds good.&nbsp;","text":"Sounds good.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9029703437","repostId":"1150378774","repostType":4,"repost":{"id":"1150378774","kind":"news","pubTimestamp":1652801386,"share":"https://ttm.financial/m/news/1150378774?lang=&edition=fundamental","pubTime":"2022-05-17 23:29","market":"us","language":"en","title":"5 Cathie Wood Stocks to Buy Now","url":"https://stock-news.laohu8.com/highlight/detail?id=1150378774","media":"InvestorPlace","summary":"Despite recent declines in share prices, these Cathie Wood stocks are strong plays on innovation, a ","content":"<html><head></head><body><ul><li>Despite recent declines in share prices, these Cathie Wood stocks are strong plays on innovation, a key driver of the global economy.</li><li><b>Block</b>(<b><u>SQ</u></b>) — The launch of Square Loans in Canada as well as the new generation of the Square Stand could provide a significant path to revenue growth.</li><li><b>CRISPR Therapeutics</b>(<b><u>CRSP</u></b>) — Substantial global investment in genetic engineering is likely to pave the way for tremendous growth.</li><li><b>Shopify</b>(<b><u>SHOP</u></b>) — The recent acquisition of <b>Deliverr</b> is likely to improve logistics operations and increase efficiency.</li><li><b>ARK Autonomous Technology &amp; Robotics ETF</b>(<b><u>ARKQ</u></b>) — The exchange-traded fund, which has lost over a third of its value in 2022, offers better opportunities now.</li><li><b>ARK Space Exploration &amp; Innovation ETF</b>(<b><u>ARKX</u></b>) — The fund invests in firms that are at the forefront of aerospace and space-related technologies.</li></ul><p>Cathie Wood stocks, our topic for today, have come under fire in 2022. Yet, during the pandemic, ARK Invest funds, led by Wood’s team, had generated tremendous buzz on Wall Street. The firm’s exchange-traded funds (ETFs), which seek long-term capital growth, focus mainly on disruptive innovation.</p><p>However, 2022 has proved a tough year for such high-growth shares. Concerns over the possibility of a recession in the near future have made investors wary of high-risk technology stocks, including those held by ARK funds.</p><p>Just last week, Wood told subscribers to her stock commentary that “volatility could persist until demand destruction and excess inventories make it clear that inflation is not entrenched in the economy.”</p><p>Additionally, a slate of disappointing earnings results have been a major factor in the recent drop. For instance, since the beginning of the year, the<b> ARK Innovation ETF</b>(NYSEARCA:<b><u>ARKK</u></b>) has fallen over 60%.</p><p>Yet, innovation remains the primary driving force in the global economy.<b>McKinsey &amp; Co.</b> suggests, “Innovation is critical to growth, particularly as the speed of business cycles continues to increase.”</p><p>Despite recent losses, robust companies in Wood’s portfolio could potentially bounce back in the coming months. With that in mind, here are three of the best of Cathie Wood stocks to buy in May.</p><p>Block (SQ)</p><p>Our first Cathie Wood stock pick is the financial technology (fintech) name <b>Block</b>(NYSE:<b><u>SQ</u></b>). Formerly known as Square, Block’s products include the Square payment system, Cash App, Afterpay, Weebly and TIDAL.</p><p>In early May, Block published first-quarter results. Total net revenue was $3.96 billion, down from $5.06 billion the year before. This decline of 22% year-over-year (YOY) was mainly due to the inclusion its <b>Bitcoin</b>(<b><u>BTC-USD</u></b>) activity. Excluding bitcoin revenue, revenue increased 44% YOY to $2.23 billion. The net loss per diluted share came in at 38 cents, compared to a net income of 8 cents per diluted share a year ago.</p><p>Recently, the company announced the launch of Square Loans in Canada. This service has distributed around $9 billion in loans to small businesses in the U.S. and Australia, where it has been active since 2014. Moreover, the company announced the introduction of a new generation of the Square Stand, the point-of-sale system that increases efficiency and transparency.</p><p>While more than 11% of <b>ARK Fintech Innovation ETF</b> (NYSEARCA:<b><u>ARKF</u></b>) is allocated to SQ stock, theARK Innovation ETF, ARKK, leads the pack as the Wood-led fund with the most Square shares.</p><p>SQ stock is down over 55% year-to-date. Yet despite the decline, shares are trading at 101 times forward earnings and 2.7 times trailing sales. Meanwhile. the 12-month median for Square stock forecast is at$150.00.</p><p>CRISPR Therapeutics<b>(CRSP)</b></p><p>Next up on our list of Cathie Wood stocks is the biotech name <b>CRISPR Therapeutics</b>(NASDAQ:CRSP). Analysts concur that it has revolutionized the field of genetic engineering by providing a fast, precise, and relatively inexpensive method for gene manipulation.</p><p>In mid-February, the company releasedQ4 FY21results. Revenue increased to $12.9 million, up from $370,000 in the prior-year period. Loss per diluted share came in at $1.84, compared to net income per share of $1.50 in the prior-year quarter. Cash and equivalents ended 2021 at$2.38 billion.</p><p>Recently, the company has announced significant progress in clinical trials for the treatments for Type I diabetes, cancer, and ALS. These trials represent partnerships with notable biotechnology companies and pave the way for eventual distribution to the market.</p><p>Among ARK ETFs, theARK Innovation ETF stands out as the one with the most CRSP shares.</p><p>So far in the year, the stock is down over 42%. Meanwhile, shares are trading at 23.6x forward earnings and 4.5x trailing sales. At present, the 12-month median forecast for CRSP stock is$143.00.</p><p><b>Shopify (SHOP)</b></p><p>The final single stock on our list is <b>Shopify</b> (NYSE:<b><u>SHOP</u></b>), the multinational all-in-one e-commerce solution provider. This Canada-based tech giant offers a variety of tools for independent business owners. Services include logo design, online payment services, web design, logistics, and domain name registration.</p><p>In early May, Shopify reported its Q1 FY22results. Revenue came in at $1.20 billion, up 22% YOY. Diluted earnings per share (EPS) was 20 cents. In the year before, it had been $2.01. Cash and equivalents ended the quarter at $7.25 billion.</p><p>The e-commerce giant recently announced it had reached an agreement to acquire <b>Deliverr</b>, an e-commerce fulfillment, and logistics company. This transaction is expected to strengthen Shopify’s delivery systems, improve infrastructure, as well as shorten delivery times.</p><p>Readers would be interested to know that theARK Innovation ETF also stands out as the ARK fund with the highest amount of shares.</p><p>SHOP stock is down 73% YTD. Forward price-to-earnings and price-to-sales ratios stand at 175x and 11.4x, respectively. Finally, the 12-month median forecast for SHOP stock is currently at$527.50.</p><p><b>ARK Autonomous Technology &amp; Robotics ETF (ARKQ)</b></p><p>Our next two choices are two exchange-traded funds managed by Cathie Wood. First up is the <b>ARK Autonomous Technology &amp; Robotics ETF</b>(NYSEARCA:<b><u>ARKQ</u></b>). It invests in global companies that benefit from disruptive technologies, such as artificial intelligence (AI), automation, and robotics.</p><p>This actively managed fund has amassed net assets of$1.6 billion since its inception in September 2014. Its annual expense ratio stands at 0.75% per year.</p><p>ARKQtypically has 30 – 50 holdings. At the time of writing, it holds 39 stocks, of which the top 10 names account for almost 60% of the portfolio.</p><p>Among those are <b>Tesla</b>(NASDAQ:<b><u>TSLA</u></b>); technology solutions provider <b>Trimble</b>(NASDAQ:<b><u>TRMB</u></b>);<b>Kratos Defense and Security Solutions</b>(NASDAQ:<b><u>KTOS</u></b>); Japanese construction equipment manufacturer <b>Komatsu</b>(OTCMKTS:<b><u>KMTUY</u></b>); and <b>UiPath</b>(NYSE:<b><u>PATH</u></b>), provider of end-to-end platform for automation.</p><p>Autonomous vehicles have the biggest share (40.4%) of the fund’s technological exposure. Next are 3D Printing (17.2%) and robotics (16.4%).</p><p>With regards to the sector allocations, the fund is heavily weighted toward industrials (42.6%), followed by information technology (28.9%) and consumer discretionary (19.4%).</p><p>ARKQ stock has been in a downtrend since seeing record highs in November 2021. The ETF hit a 52-week low on May 9. It has also underperformed the broader market with a loss of about 37% since January and 39% over the past 52 weeks.</p><p>However, despite the potential setbacks by inflationary headwinds, the growth prospects of the robotics and autonomy industry appear strong. Thus, investors might want to keep ARKQ stock on the radar to buy the dips.</p><p><b>ARK Space Exploration &amp; Innovation ETF (ARKX)</b></p><p>Our final discussion centers around the <b>ARK Space Exploration &amp; Innovation ETF</b>(NYSEARCA:<b><u>ARKX</u></b>), which focuses on the space-related industry. It invests in global firms at the forefront or space-related activities or technologies.</p><p>The fund, which was launched in March 2021, typically holds 35 – 55 stocks.It currently has a portfolio of 35 holdings and total net assets of around $421 million. Its expense ratio is also 0.75%.</p><p>Industrials lead the way with 57.2%. Next are IT (22.7%) and communication services (7.4%). The actively managed ETF currently invests heavily in aerospace beneficiary companies (43.3%) that are engaged in agri-science, internet access, global positioning systems (GPS), construction, drones, or electric aviation vehicles.</p><p>The fund has around 60% of its investments in the top 10 stocks.The largest holding,<b>Trimble</b> comprises almost 10% of the portfolio. Next come Kratos Defense and Security Solutions; the<b>3D Printing ETF</b>(NYSEARCA:<b><u>PRNT</u></b>); <b>L3harris Technologies</b>(NYSE:<b><u>LHX</u></b>); and <b>AeroVironment</b>(NASDAQ:<b><u>AVAV</u></b>).</p><p>ARKX stock is down around 28% YTD and 33% over the past 12 months. It hit a 52-week low in recent days.</p><p>Nonetheless, the global space industry prospects look bright as new players and emerging technologies are opening it as the new frontier. Thus, risk-tolerant investors with a horizon of three-to-five years could consider investing in ARKX using a small portion of their investment portfolios.</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>5 Cathie Wood Stocks to Buy Now</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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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\">\n5 Cathie Wood Stocks to Buy Now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-17 23:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/05/5-cathie-wood-stocks-to-buy-now-sq-crsp-shop-arkq-arkx/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite recent declines in share prices, these Cathie Wood stocks are strong plays on innovation, a key driver of the global economy.Block(SQ) — The launch of Square Loans in Canada as well as the new...</p>\n\n<a href=\"https://investorplace.com/2022/05/5-cathie-wood-stocks-to-buy-now-sq-crsp-shop-arkq-arkx/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SHOP":"Shopify Inc","ARKX":"ARK Space Exploration & Innovation ETF","SQ":"Block","CRSP":"CRISPR Therapeutics AG","ARKQ":"ARK Autonomous Technology & Robotics ETF"},"source_url":"https://investorplace.com/2022/05/5-cathie-wood-stocks-to-buy-now-sq-crsp-shop-arkq-arkx/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150378774","content_text":"Despite recent declines in share prices, these Cathie Wood stocks are strong plays on innovation, a key driver of the global economy.Block(SQ) — The launch of Square Loans in Canada as well as the new generation of the Square Stand could provide a significant path to revenue growth.CRISPR Therapeutics(CRSP) — Substantial global investment in genetic engineering is likely to pave the way for tremendous growth.Shopify(SHOP) — The recent acquisition of Deliverr is likely to improve logistics operations and increase efficiency.ARK Autonomous Technology & Robotics ETF(ARKQ) — The exchange-traded fund, which has lost over a third of its value in 2022, offers better opportunities now.ARK Space Exploration & Innovation ETF(ARKX) — The fund invests in firms that are at the forefront of aerospace and space-related technologies.Cathie Wood stocks, our topic for today, have come under fire in 2022. Yet, during the pandemic, ARK Invest funds, led by Wood’s team, had generated tremendous buzz on Wall Street. The firm’s exchange-traded funds (ETFs), which seek long-term capital growth, focus mainly on disruptive innovation.However, 2022 has proved a tough year for such high-growth shares. Concerns over the possibility of a recession in the near future have made investors wary of high-risk technology stocks, including those held by ARK funds.Just last week, Wood told subscribers to her stock commentary that “volatility could persist until demand destruction and excess inventories make it clear that inflation is not entrenched in the economy.”Additionally, a slate of disappointing earnings results have been a major factor in the recent drop. For instance, since the beginning of the year, the ARK Innovation ETF(NYSEARCA:ARKK) has fallen over 60%.Yet, innovation remains the primary driving force in the global economy.McKinsey & Co. suggests, “Innovation is critical to growth, particularly as the speed of business cycles continues to increase.”Despite recent losses, robust companies in Wood’s portfolio could potentially bounce back in the coming months. With that in mind, here are three of the best of Cathie Wood stocks to buy in May.Block (SQ)Our first Cathie Wood stock pick is the financial technology (fintech) name Block(NYSE:SQ). Formerly known as Square, Block’s products include the Square payment system, Cash App, Afterpay, Weebly and TIDAL.In early May, Block published first-quarter results. Total net revenue was $3.96 billion, down from $5.06 billion the year before. This decline of 22% year-over-year (YOY) was mainly due to the inclusion its Bitcoin(BTC-USD) activity. Excluding bitcoin revenue, revenue increased 44% YOY to $2.23 billion. The net loss per diluted share came in at 38 cents, compared to a net income of 8 cents per diluted share a year ago.Recently, the company announced the launch of Square Loans in Canada. This service has distributed around $9 billion in loans to small businesses in the U.S. and Australia, where it has been active since 2014. Moreover, the company announced the introduction of a new generation of the Square Stand, the point-of-sale system that increases efficiency and transparency.While more than 11% of ARK Fintech Innovation ETF (NYSEARCA:ARKF) is allocated to SQ stock, theARK Innovation ETF, ARKK, leads the pack as the Wood-led fund with the most Square shares.SQ stock is down over 55% year-to-date. Yet despite the decline, shares are trading at 101 times forward earnings and 2.7 times trailing sales. Meanwhile. the 12-month median for Square stock forecast is at$150.00.CRISPR Therapeutics(CRSP)Next up on our list of Cathie Wood stocks is the biotech name CRISPR Therapeutics(NASDAQ:CRSP). Analysts concur that it has revolutionized the field of genetic engineering by providing a fast, precise, and relatively inexpensive method for gene manipulation.In mid-February, the company releasedQ4 FY21results. Revenue increased to $12.9 million, up from $370,000 in the prior-year period. Loss per diluted share came in at $1.84, compared to net income per share of $1.50 in the prior-year quarter. Cash and equivalents ended 2021 at$2.38 billion.Recently, the company has announced significant progress in clinical trials for the treatments for Type I diabetes, cancer, and ALS. These trials represent partnerships with notable biotechnology companies and pave the way for eventual distribution to the market.Among ARK ETFs, theARK Innovation ETF stands out as the one with the most CRSP shares.So far in the year, the stock is down over 42%. Meanwhile, shares are trading at 23.6x forward earnings and 4.5x trailing sales. At present, the 12-month median forecast for CRSP stock is$143.00.Shopify (SHOP)The final single stock on our list is Shopify (NYSE:SHOP), the multinational all-in-one e-commerce solution provider. This Canada-based tech giant offers a variety of tools for independent business owners. Services include logo design, online payment services, web design, logistics, and domain name registration.In early May, Shopify reported its Q1 FY22results. Revenue came in at $1.20 billion, up 22% YOY. Diluted earnings per share (EPS) was 20 cents. In the year before, it had been $2.01. Cash and equivalents ended the quarter at $7.25 billion.The e-commerce giant recently announced it had reached an agreement to acquire Deliverr, an e-commerce fulfillment, and logistics company. This transaction is expected to strengthen Shopify’s delivery systems, improve infrastructure, as well as shorten delivery times.Readers would be interested to know that theARK Innovation ETF also stands out as the ARK fund with the highest amount of shares.SHOP stock is down 73% YTD. Forward price-to-earnings and price-to-sales ratios stand at 175x and 11.4x, respectively. Finally, the 12-month median forecast for SHOP stock is currently at$527.50.ARK Autonomous Technology & Robotics ETF (ARKQ)Our next two choices are two exchange-traded funds managed by Cathie Wood. First up is the ARK Autonomous Technology & Robotics ETF(NYSEARCA:ARKQ). It invests in global companies that benefit from disruptive technologies, such as artificial intelligence (AI), automation, and robotics.This actively managed fund has amassed net assets of$1.6 billion since its inception in September 2014. Its annual expense ratio stands at 0.75% per year.ARKQtypically has 30 – 50 holdings. At the time of writing, it holds 39 stocks, of which the top 10 names account for almost 60% of the portfolio.Among those are Tesla(NASDAQ:TSLA); technology solutions provider Trimble(NASDAQ:TRMB);Kratos Defense and Security Solutions(NASDAQ:KTOS); Japanese construction equipment manufacturer Komatsu(OTCMKTS:KMTUY); and UiPath(NYSE:PATH), provider of end-to-end platform for automation.Autonomous vehicles have the biggest share (40.4%) of the fund’s technological exposure. Next are 3D Printing (17.2%) and robotics (16.4%).With regards to the sector allocations, the fund is heavily weighted toward industrials (42.6%), followed by information technology (28.9%) and consumer discretionary (19.4%).ARKQ stock has been in a downtrend since seeing record highs in November 2021. The ETF hit a 52-week low on May 9. It has also underperformed the broader market with a loss of about 37% since January and 39% over the past 52 weeks.However, despite the potential setbacks by inflationary headwinds, the growth prospects of the robotics and autonomy industry appear strong. Thus, investors might want to keep ARKQ stock on the radar to buy the dips.ARK Space Exploration & Innovation ETF (ARKX)Our final discussion centers around the ARK Space Exploration & Innovation ETF(NYSEARCA:ARKX), which focuses on the space-related industry. It invests in global firms at the forefront or space-related activities or technologies.The fund, which was launched in March 2021, typically holds 35 – 55 stocks.It currently has a portfolio of 35 holdings and total net assets of around $421 million. Its expense ratio is also 0.75%.Industrials lead the way with 57.2%. Next are IT (22.7%) and communication services (7.4%). The actively managed ETF currently invests heavily in aerospace beneficiary companies (43.3%) that are engaged in agri-science, internet access, global positioning systems (GPS), construction, drones, or electric aviation vehicles.The fund has around 60% of its investments in the top 10 stocks.The largest holding,Trimble comprises almost 10% of the portfolio. Next come Kratos Defense and Security Solutions; the3D Printing ETF(NYSEARCA:PRNT); L3harris Technologies(NYSE:LHX); and AeroVironment(NASDAQ:AVAV).ARKX stock is down around 28% YTD and 33% over the past 12 months. It hit a 52-week low in recent days.Nonetheless, the global space industry prospects look bright as new players and emerging technologies are opening it as the new frontier. Thus, risk-tolerant investors with a horizon of three-to-five years could consider investing in ARKX using a small portion of their investment portfolios.","news_type":1},"isVote":1,"tweetType":1,"viewCount":83,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9060560053,"gmtCreate":1651180348223,"gmtModify":1676534862758,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Wow. Good information&nbsp;","listText":"Wow. Good information&nbsp;","text":"Wow. Good information","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9060560053","repostId":"2230454741","repostType":4,"repost":{"id":"2230454741","kind":"highlight","pubTimestamp":1651132673,"share":"https://ttm.financial/m/news/2230454741?lang=&edition=fundamental","pubTime":"2022-04-28 15:57","market":"us","language":"en","title":"Palantir Technologies Stock: Bear vs. Bull","url":"https://stock-news.laohu8.com/highlight/detail?id=2230454741","media":"Motley Fool","summary":"The data-mining firm is still a polarizing investment.","content":"<html><head></head><body><p><b>Palantir Technologies&#39;</b> stock took investors on a wild ride after it went public via a direct listing on Sept. 30, 2020. The data-mining firm&#39;s shares started trading at $10, closed at an all-time high of $39 last January, but subsequently tumbled all the way back to about $12 a share.</p><p>Does that pullback represent a good buying opportunity for patient investors? Let&#39;s review the bull and bear cases to decide.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5a745be90180fb00049b4e1dd3a5ed89\" tg-width=\"700\" tg-height=\"393\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><h2>What does Palantir do?</h2><p>Palantir operates two main software platforms: Gotham, which serves government clients; and Foundry, which serves large enterprises and private organizations. A third platform, Apollo, provides automatic software updates for both platforms as a cloud-based service.</p><p>Palantir&#39;s software aggregates data from disparate sources and then analyzes it with artificial intelligence algorithms to help organizations make informed decisions. For example, the U.S. Army uses Gotham to collect intel from various government agencies and local sources to plan missions. Large companies can also use its algorithms to streamline their operations.</p><h2>Why do the bulls love Palantir?</h2><p>The bulls love Palantir because it has firm ties to the U.S. government, it generates robust growth, and its gross margins are expanding.</p><p>Palantir&#39;s revenue rose 47% in 2020, then grew 41% to $1.54 billion in 2021. It ended 2021 with a high dollar-based net retention rate of 131%, and it expects its revenue to grow by at least 30% annually through 2025.</p><p>Its government revenue in 2021 rose 34% to $645 million, but it still decelerated from its 77% growth in 2020. However, its commercial revenue in 2021 increased 47% to $897 million, which accelerated from its 22% growth in 2020.</p><p>The acceleration of its commercial business silenced the bears who initially claimed Palantir would struggle against similar data-mining companies like <b>C3.ai</b>, <b>Alteryx</b>, and <b><a href=\"https://laohu8.com/S/CRM\">Salesforce</a></b> in the crowded enterprise analytics market.</p><p>The bulls also believe its government slowdown is temporary since it still secured plenty of new deals over the past year. In addition, Ukraine war could generate fresh tailwinds for Gotham as more government agencies upgrade their analytics systems to counter the threat of new cyberattacks and military aggression across Europe.</p><p>Palantir&#39;s adjusted gross margin rose from 71% in 2019 to 81% in 2020, then increased to 82% in 2021. That ongoing expansion indicates it still has plenty of pricing power in the data mining and analytics market.</p><h2>Why do the bears hate Palantir?</h2><p>The bears dislike Palantir because it faces a hidden competitor within the U.S. government, it&#39;s unprofitable, and its stock still isn&#39;t cheap.</p><p>Palantir has a controversial reputation because its co-founder Peter Thiel was a vocal supporter of former President Donald Trump. Immigration and Customs Enforcement&#39;s (ICE) usage of Gotham to deport undocumented immigrants also sparked internal protests and resignations across the company.</p><p>Those controversies, along with long-term cost concerns, have reportedly driven ICE to develop its own internal replacement for Gotham called RAVEn. If other U.S. government agencies follow ICE&#39;s lead, Palantir&#39;s dream of becoming the &#34;default operating system for data across the U.S. government&#34; (which it boldly set in its S-1 filing) could quickly end.</p><p>Palantir&#39;s net loss widened from $580 million in 2019 to $1.17 billion in 2020, partly due to the costs of its direct listing, and narrowed to $520 million in 2021. That red ink makes Palantir a risky stock to own as interest rates rise.</p><p>Palantir&#39;s stock has nearly taken a round trip back to its initial opening price, but it still isn&#39;t undervalued at 12 times this year&#39;s sales. By comparison, <b>Twilio </b>(TWLO -6.26%) -- the cloud-based communications company which expects to generate at least 30% organic revenue growth over the next few years -- trades at just six times this year&#39;s sales.</p><p>To make matter worse, Palantir continues to dilute its shares with its generous stock-based compensation (50% of its revenue in 2021) as its insiders cash out. On a weighted-average basis, Palantir&#39;s outstanding shares nearly doubled in 2021. Yet over the past three months, its insiders sold more than twice as many shares as they purchased.</p><h2>The bears still have the upper hand</h2><p>Palantir&#39;s business should continue to grow at an impressive clip this year, but its ongoing losses, dilution, and insider sales indicate its stock could still drop even further in this challenging market. Therefore, I believe investors should avoid Palantir until its price-to-sales ratio drops to the single digits.</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>Palantir Technologies Stock: Bear vs. Bull</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\">\nPalantir Technologies Stock: Bear vs. Bull\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-28 15:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/04/27/palantir-technologies-stock-bear-vs-bull/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Palantir Technologies' stock took investors on a wild ride after it went public via a direct listing on Sept. 30, 2020. The data-mining firm's shares started trading at $10, closed at an all-time high...</p>\n\n<a href=\"https://www.fool.com/investing/2022/04/27/palantir-technologies-stock-bear-vs-bull/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://www.fool.com/investing/2022/04/27/palantir-technologies-stock-bear-vs-bull/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2230454741","content_text":"Palantir Technologies' stock took investors on a wild ride after it went public via a direct listing on Sept. 30, 2020. The data-mining firm's shares started trading at $10, closed at an all-time high of $39 last January, but subsequently tumbled all the way back to about $12 a share.Does that pullback represent a good buying opportunity for patient investors? Let's review the bull and bear cases to decide.Image source: Getty Images.What does Palantir do?Palantir operates two main software platforms: Gotham, which serves government clients; and Foundry, which serves large enterprises and private organizations. A third platform, Apollo, provides automatic software updates for both platforms as a cloud-based service.Palantir's software aggregates data from disparate sources and then analyzes it with artificial intelligence algorithms to help organizations make informed decisions. For example, the U.S. Army uses Gotham to collect intel from various government agencies and local sources to plan missions. Large companies can also use its algorithms to streamline their operations.Why do the bulls love Palantir?The bulls love Palantir because it has firm ties to the U.S. government, it generates robust growth, and its gross margins are expanding.Palantir's revenue rose 47% in 2020, then grew 41% to $1.54 billion in 2021. It ended 2021 with a high dollar-based net retention rate of 131%, and it expects its revenue to grow by at least 30% annually through 2025.Its government revenue in 2021 rose 34% to $645 million, but it still decelerated from its 77% growth in 2020. However, its commercial revenue in 2021 increased 47% to $897 million, which accelerated from its 22% growth in 2020.The acceleration of its commercial business silenced the bears who initially claimed Palantir would struggle against similar data-mining companies like C3.ai, Alteryx, and Salesforce in the crowded enterprise analytics market.The bulls also believe its government slowdown is temporary since it still secured plenty of new deals over the past year. In addition, Ukraine war could generate fresh tailwinds for Gotham as more government agencies upgrade their analytics systems to counter the threat of new cyberattacks and military aggression across Europe.Palantir's adjusted gross margin rose from 71% in 2019 to 81% in 2020, then increased to 82% in 2021. That ongoing expansion indicates it still has plenty of pricing power in the data mining and analytics market.Why do the bears hate Palantir?The bears dislike Palantir because it faces a hidden competitor within the U.S. government, it's unprofitable, and its stock still isn't cheap.Palantir has a controversial reputation because its co-founder Peter Thiel was a vocal supporter of former President Donald Trump. Immigration and Customs Enforcement's (ICE) usage of Gotham to deport undocumented immigrants also sparked internal protests and resignations across the company.Those controversies, along with long-term cost concerns, have reportedly driven ICE to develop its own internal replacement for Gotham called RAVEn. If other U.S. government agencies follow ICE's lead, Palantir's dream of becoming the \"default operating system for data across the U.S. government\" (which it boldly set in its S-1 filing) could quickly end.Palantir's net loss widened from $580 million in 2019 to $1.17 billion in 2020, partly due to the costs of its direct listing, and narrowed to $520 million in 2021. That red ink makes Palantir a risky stock to own as interest rates rise.Palantir's stock has nearly taken a round trip back to its initial opening price, but it still isn't undervalued at 12 times this year's sales. By comparison, Twilio (TWLO -6.26%) -- the cloud-based communications company which expects to generate at least 30% organic revenue growth over the next few years -- trades at just six times this year's sales.To make matter worse, Palantir continues to dilute its shares with its generous stock-based compensation (50% of its revenue in 2021) as its insiders cash out. On a weighted-average basis, Palantir's outstanding shares nearly doubled in 2021. Yet over the past three months, its insiders sold more than twice as many shares as they purchased.The bears still have the upper handPalantir's business should continue to grow at an impressive clip this year, but its ongoing losses, dilution, and insider sales indicate its stock could still drop even further in this challenging market. Therefore, I believe investors should avoid Palantir until its price-to-sales ratio drops to the single digits.","news_type":1},"isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9990660816,"gmtCreate":1660350202438,"gmtModify":1676533454909,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Like]&nbsp;","listText":"[Like]&nbsp;","text":"[Like]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9990660816","repostId":"1157910275","repostType":4,"repost":{"id":"1157910275","kind":"news","pubTimestamp":1660318322,"share":"https://ttm.financial/m/news/1157910275?lang=&edition=fundamental","pubTime":"2022-08-12 23:32","market":"us","language":"en","title":"Tesla Is Past Its Sell-By Date!","url":"https://stock-news.laohu8.com/highlight/detail?id=1157910275","media":"Seeking Alpha","summary":"SummaryElon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!To achieve that requires several more huge factories to be built that are not yet past the initial planning stages nor even a decision made where they will be located!","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Elon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!</li><li>To achieve that requires several more huge factories to be built that are not yet past the initial planning stages nor even a decision made where they will be located!</li><li>They will require vast sums of money as might many existing problems that remain unresolved with new ones still emerging.</li><li>My share price target is around $100 by year-end. Some are more optimistic, with Citi giving Tesla a sell-rated forecast of $375 → $424. JP Morgan suggests $385. The price, as I write, is $864.</li><li>Some have suggested a price of $1580, which should frighten any cautious investor away.</li></ul><p><b>Those wing doors will not get that Tesla off the ground,</b> and new action against Elon Musk&#39;s autopilot claims might even stop them being driven manually by man - including Musk - in some places. An earlier action against Musk by the SEC resulted in him giving up his driving position as both Chairman and CEO.</p><p>In my first article on Tesla, Inc. (NASDAQ:TSLA) on 16 November, 2021, titled Tesla&#39;s Ticking Time Bomb, I strongly advised selling Tesla. The price then was $1,054.73, so it is down 18%, somewhat more than the S&amp;P500&#39;s 12% decline. On the first of that same month, the price was $1,209.</p><p>TSLA hit a low of $626 on 24 May, 2022, suggesting many are having doubts, with the recent bounce perhaps being caused by believers in that sky-high $1580 forecast. To those I would recommend they check the past and see that the price had never gone above $100 until the beginning of last year, the price level I believe it will return to. It is down 27% YTD en route to that price.</p><p>This shall probably be my last article on Tesla, as I prefer to write on companies that will gain from world developments, and those do not benefit Tesla in the way they did in the past. That should have a significant negative effect on Tesla&#39;s future performance in both the car and stock markets, and I hope this article will be of value to those holding or considering buying into Tesla now. I would emphasize here that I am not a short seller or a trader. Tesla may well suit those that are, but it does not suit me. I am an investor and I write with only that in mind.</p><p>I will first touch on Tesla the car (and solar panel) maker and expand on the challenges it faces later.</p><p><b>Tesla The Car Maker</b></p><p>Tesla was founded by a visionary named Elon Musk. He saw an opportunity in electric cars, EVs, when other carmakers - and especially the U.S. and German manufacturers - were mostly focused on traditional internal combustion engines, ICEs.</p><p>He gained an almost cult-like following among retail investors and used the resultant share price explosion to raise over $13 billion in four stock offerings. Car-making is a capital-intensive industry, and such low capital costs gave it an advantage to get off the ground and into the big league.</p><p>Tesla also had <i>good profit margins</i>. Being a newcomer to car manufacturing, Tesla did not have legacy car maker problems such as restrictive unions and large company bureaucracies to add cost, plus EVs require many fewer components than ICEs. That makes Tesla&#39;s profit margins better - gross margins were 23% in fiscal 2020, compared with Ford&#39;s (F) 10%. <i>That gap is closing.</i> Tesla&#39;s superior margins over other carmakers are used by many believers to justify its high valuation, but - while they are good compared with many - they are not sufficiently better than the world&#39;s largest carmaker Toyota (TM,OTCPK:TOYOF) to do make the difference so extreme.</p><p><b>Toyota&#39;s P/E is 10.9. Tesla&#39;s P/E is 103.77 - nearly 10 times Toyota&#39;s!</b></p><p><b>Toyota&#39;s market cap $260bn. Tesla&#39;s $967bn - nearly 4 times Toyota&#39;s!</b></p><p>The latest gross margin (&#34;GM&#34;) figures show this:</p><p>Tesla&#39;s GM: 28%. Net: 10.5%. Ops: 14.6%</p><p>Toyota&#39;s GM: 18%. Net: 8.5%. Ops: 8%</p><p>That GM gap will close when Toyota (and other ICE makers) build more EVs because of the hugely lower amount of materials needed to build EV motors than ICEs, so either TM&#39;s P/E should shoot up or TSLA&#39;s crash down.</p><p>The latest results from Tesla&#39;s website were good, but the Gross Margin is declining.</p><p><img src=\"https://static.tigerbbs.com/3d5fce89f9eada41780cfacd8d123c95\" tg-width=\"602\" tg-height=\"323\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/bed17678a34727ef88451b33fd78453a\" tg-width=\"599\" tg-height=\"473\" referrerpolicy=\"no-referrer\"/><img src=\"https://static.tigerbbs.com/2e9b6e7adf9f631f7442c6692bd0a231\" tg-width=\"603\" tg-height=\"554\" referrerpolicy=\"no-referrer\"/>Source: Tesla.</p><p>If more financial information is required, it can be found here onTesla&#39;s website.</p><p><b>Cash and cash equivalents</b> are good, but billions will be needed to build the additional giant factories required, as might the many existing problems that remain unresolved with new ones still emerging.</p><p>I will now move on to those...</p><p>Problems - Internal <b>Self-Inflicted</b></p><p><b>There are many self-inflicted problems,</b> and many have yet to be resolved. The latest are claims by California&#39;s DMV that Tesla overstated its autopilot capabilities. ThisReutersarticle tells more about that. California is Tesla&#39;s largest U.S. market. The company sold 121,000 vehicles there in 2021, out of an estimated 352,000 sold nationwide. The DMV is seeking remedies that could include <b>suspending Tesla&#39;s license to sell vehicles in California</b> and requiring the company to make restitution to drivers.</p><p>Wikipedia has this list of <b>lawsuits</b> against Tesla.I know of no other reputable company that has stirred up so much controversy. The &#34;autopilot&#34; - the word used by Elon Musk to describe Tesla&#39;s driver assistance technology - fatality case could prove to be fatal or near-fatal for the whole company. Autoblog tells us more on that.</p><p>Currently, in a car accident in the U.S., the driver of one car sues the driver of the other car. It is only very seldom the car manufacturer is sued. For self-driving cars, however, things are likely to be different. There aren&#39;t other drivers to sue. There is just the car - and the company that made it. It won&#39;t take long for plaintiffs&#39; lawyers to start filing big lawsuits, even class actions, against the car and technology companies that made the cars and designed the self-driving technology. And, as we have seen in other such situations, <b>there could soon be billion-dollar judgments against Tesla.</b></p><p><b>Recall and Warranty costs.</b> In 2021, Tesla recalled 475,000 vehicles for safety issues in the U.S. alone. Barron&#39;s recently reported that, since January, 2022, Tesla has issued four recalls for almost 1.5 million vehicles worldwide, according to the National Highway Traffic Safety Administration. That&#39;s roughly four times the 360,000 cars that Tesla delivered in the U.S. in 2021, and a half-million more, at least, than the 936,000 delivered worldwide. Global deliveries rose about 87%, compared with 2020. Those problems have to be fixed free of charge, plus many other problems require fixing under warranty.</p><p>They all require the vehicle to be returned to a dealer to be fixed. They <b>are a nuisance for the owners and costly for Tesla shareholders.</b></p><p><b>Musk&#39;s Antics.</b> I borrowed the word antic from Al Jazeera&#39;s report headed &#34;Musk&#39;s antics turn Tesla owners, new buyers against it.&#34;</p><p>Another antic was buying into <b>solar panels</b>. This is a U.S.-only market for Tesla. He got into solar by buying a troubled company founded by his cousins and on whose board he sat. That was paid for with Tesla shareholders&#39; money and led to a failed lawsuit by them, according to this Business Insider report. Its policy has been to offer <b>lowest price guarantees, which is suicidal</b> in such a commodity product market sector and - to reduce costs in the U.S. further - President Biden has waived tariffs on solar panels imported from Cambodia, Malaysia, Thailand, and Vietnam. A CNET report also claims that &#34;Tesla is skimping on customer service.&#34;This activity will be a constant drain on Tesla profits until closed!</p><p><b>Share sales.</b> <b>Musk&#39;s latest antic is to sell more Tesla shares</b> purportedly to prepare any payment he may have to pay for his Twitter bid. One has to question why did he sell now if he has confidence the stock price will be higher when the outcome of that case against him is known?! This SA News report headed &#34;Elon Musk backtracks on stock pledge&#34; tells more, including &#34;he now owns just under 15% of Tesla.&#34; One day he may be a total high-price dropout!</p><p><b>Musk&#39;s Aims.</b> As a visionary, he has achieved near miracles to get Tesla where it is today. However, it will need another miracle in the near future if 20 million cars are to be made, and even aiming for them could put Tesla into reverse gear financially. At Tesla&#39;s recent Cyber Round Up in Austin, Texas, Musk said the company would &#34;end up building at least 10 or 12 Gigafactories.&#34; Those <b>Gigafactories cost Gigabucks to build.</b> They also require years to build, and he needs them soon if he is to make <b>20 million cars per year by2030.</b> That means completion before the end of 2029 - just over 7 years away. None have been started, nor even have locations been announced!</p><p>In the unlikely event Tesla achieved that number, it would require another miracle to sell that many cars, because gaining 16.4% of the entire world car market - including ICEs - is probably impossible for any car maker.GlobeNewswiremade the 2030 estimate of total car market size in 2030 of 122.83 million units that I used to calculate that market share percentage. It makes worthwhile reading.</p><p>It also looks rather stupid ifS&amp;P Global&#39;s estimate of 26.8 million EV sales by 2030 proves correct. That would mean <b>Tesla has to achieve 75% EV market share!</b></p><p>Toyota is the world&#39;s largest carmaker and manufactures around 10 million cars per year. It has around 10% of the world market. It makes ICEs, hybrids, plug-in hybrids, battery EVs, and hydrogen cars. Tesla only makes battery EVs.</p><p>It therefore takes a bit of a stretch of the imagination to see Tesla selling 20 million cars per year by 2030... if it can make them!</p><p><b>Problems - External</b></p><p><b>Lithium supplies.</b> The Financial Times recently published this article headed &#34;Electric-car makers warned lithium supply crunch is set to last until 2030.&#34;</p><p><b>Political and economic.</b> The new <b>Inflation Reduction Act</b> could have a perverse and unintended negative result for Tesla. The $7,500 electric vehicle tax credit will be renewed in January of 2023 and last until the end of 2032. A striking new requirement is that qualifying cars must be assembled in North America and that materials and critical minerals in the battery must come from the U.S. or a country with a free trade agreement with the U.S. That means some electric vehicles sold in the U.S. will be ineligible as soon as the bill takes effect. Chinese battery maker Contemporary Amperex Technology Co., Limited (&#34;CATL&#34;), who make some batteries for Tesla, has dropped plans to make them in the U.S.</p><p><b>Political backlashes.</b> Elon Musk has probably made some <b>enemies</b> at the political top<b>in California</b>due to his personal move, and Tesla&#39;s HQ, from there to Texas. They may encourage a harsh judgement in DMV&#39;s autopilot case against Tesla that I mentioned above.</p><p>Tesla may yet face other challenges due to his behavior <b>in Germany.</b> That country is full of bureaucracies, some of which wanted to prevent the car and battery factory near Berlin from being built in the first place. Also, local residents and environmentalists - including Green party politicians - did not want their environmentally and visually valuable forest torn down, as this report shows. Elon Musk apparently barged through those bureaucratic regulations and local and environmental objections and started building without proper approvals. The battery factory has still not been started. Their unanswered environmental problems remain. This CNBC article tells more.</p><p><b>The UK is in or near recession,</b> as are several EU continues. They include important German, UK, French, and Italian car makers, all of which have poured billions into making EVs.</p><p>That brings me to another major problem for Tesla...</p><p><b>Competition</b></p><p>-<b>Loss of a previously exclusive big Tesla buyer.</b> EV subscription company <b>Autonomy has placed an order for 23,000 EVs</b> with 17 global automakers to expand and diversify its subscription fleet beyond just Tesla vehicles. Autonomy currently has 1,000 cars, all of which are Tesla models. The fleet order valued at $1.2B includes EVs from BMW (OTCPK:BMWYY), Canoo (GOEV), Fisker (FSR), Ford (F), General Motors (GM), Hyundai (OTCPK:HYMTF), Lucid Group (LCID), Mercedes-Benz (OTCPK:DDAIF), Polestar (PSNY), Rivian (RIVN), Stellantis (STLA), Subaru (OTCPK:FUJHY), Tesla (TSLA), Toyota Motor, VinFast, Volvo Car (OTCPK:VLVOF), and Volkswagen (OTCPK:VLKAF).</p><p>-<b>Others lead the autopilot race.</b> Tesla&#39;s autopilot faces costly attacks and is anyway losing the race to others, as this chart shows</p><p><img src=\"https://static.tigerbbs.com/28c1c01bae4366c47e659b1d8e789f69\" tg-width=\"349\" tg-height=\"286\" referrerpolicy=\"no-referrer\"/></p><p>inverse.com</p><p>Waymo leads with Baidu not far behind...</p><p>-<b>Chinese tech giant, Baidu</b>(BIDU) has securedthe first permits in China to offer commercial <b>fully driverless</b> robotaxi services to the public on open roads.</p><p>Wei Dong, vice president and chief safety operation officer of Baidu&#39;s Intelligent Driving Group, said in a statement:</p><blockquote>&#34;We believe these permits are a key milestone on the path to the inflection point when the industry can finally roll out fully autonomous driving services at scale.&#34;</blockquote><p>Baidu will sell its technology to other car makers helping those leapfrog over Tesla.</p><p>It will also make cars having unveiled the Apollo RT6 - photo above - an EV ready for production with aninitial starting price of $37,000. Jidu Auto, which is a joint venture between Baidu and Geely Automobile Holdings (OTCPK:GELYY) is looking at raising between $300M and $400M as it seeks to launch its first commercial vehicle in 2023.</p><p>- Apple (AAPL) may have this fully autonomous EVon the road by 2025. Rumors suggest it will be made by Hyundai. If so, maybe their worldwide dealer network will sell and service it.</p><p>Apple reportedly poacheda top executive from Italian luxury carmaker Lamborghini for its car project.</p><p>- China&#39;s <b>BYD (OTCPK:BYDDF,OTCPK:BYDDY) sold 641,350</b> EVs in the first six months of 2022, representing a 315% increase from the same period last year. Tesla, on the other hand, delivered a total of 564,743 vehicles in H1.</p><p>- Century-old car makers are determined to be around for another century! Every major maker is spending billions on EVs. A JV between Stellantis (STLA) and Samsung (OTCPK:SSNLF) is building a $2.5 billion battery factory in Indiana. General Motors is spending $7bn to convert an existing factory to make EVs. That shows <b>another advantage traditional car makers have overTesla.</b>It costs less to convert an existing plant to make EVs than to build a new one from scratch, plus they have an established workforce and customer base.</p><p>A report on SA tells us that GM&#39;s all-electric Hummer draws rave review from Barron&#39;s.</p><p>Ford is spending $11 billion on plants in Tennessee and Kentucky, and plans to build 600,000 EVs by the end of next year.</p><p>European companies are likewise spending huge sums at home and in the U.S. to build EVs and battery factories.</p><p>Putting all those above points into one big picture and I conclude that...</p><p><b>Tesla Is Beyond Its Sell-By Date</b></p><p>I mentioned Elon Musk&#39;s sales above. He is not the only insider to have been selling; Robyn Denholm - Chairman of the Board - was a huge seller in May and June this year. From the Financial Times, the last time I could find news of insiders buying - including a tiny buy by Elon Musk - was in February 2020:</p><p><img src=\"https://static.tigerbbs.com/0bcb151636a2cf9f820f10fcff805c44\" tg-width=\"614\" tg-height=\"448\" referrerpolicy=\"no-referrer\"/>Source: Financial Times</p><p><b>If Insiders are big sellers - and none buy - why should outsiders do otherwise?!</b></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 Is Past Its Sell-By Date!</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 Is Past Its Sell-By Date!\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-12 23:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4533191-tesla-is-past-its-sell-by-date><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryElon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!To achieve that requires several more...</p>\n\n<a href=\"https://seekingalpha.com/article/4533191-tesla-is-past-its-sell-by-date\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4533191-tesla-is-past-its-sell-by-date","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157910275","content_text":"SummaryElon Musk recently repeated his claims that Tesla could be making 20 million cars per year by 2030. That would give Tesla 75% of the entire world EV market!To achieve that requires several more huge factories to be built that are not yet past the initial planning stages nor even a decision made where they will be located!They will require vast sums of money as might many existing problems that remain unresolved with new ones still emerging.My share price target is around $100 by year-end. Some are more optimistic, with Citi giving Tesla a sell-rated forecast of $375 → $424. JP Morgan suggests $385. The price, as I write, is $864.Some have suggested a price of $1580, which should frighten any cautious investor away.Those wing doors will not get that Tesla off the ground, and new action against Elon Musk's autopilot claims might even stop them being driven manually by man - including Musk - in some places. An earlier action against Musk by the SEC resulted in him giving up his driving position as both Chairman and CEO.In my first article on Tesla, Inc. (NASDAQ:TSLA) on 16 November, 2021, titled Tesla's Ticking Time Bomb, I strongly advised selling Tesla. The price then was $1,054.73, so it is down 18%, somewhat more than the S&P500's 12% decline. On the first of that same month, the price was $1,209.TSLA hit a low of $626 on 24 May, 2022, suggesting many are having doubts, with the recent bounce perhaps being caused by believers in that sky-high $1580 forecast. To those I would recommend they check the past and see that the price had never gone above $100 until the beginning of last year, the price level I believe it will return to. It is down 27% YTD en route to that price.This shall probably be my last article on Tesla, as I prefer to write on companies that will gain from world developments, and those do not benefit Tesla in the way they did in the past. That should have a significant negative effect on Tesla's future performance in both the car and stock markets, and I hope this article will be of value to those holding or considering buying into Tesla now. I would emphasize here that I am not a short seller or a trader. Tesla may well suit those that are, but it does not suit me. I am an investor and I write with only that in mind.I will first touch on Tesla the car (and solar panel) maker and expand on the challenges it faces later.Tesla The Car MakerTesla was founded by a visionary named Elon Musk. He saw an opportunity in electric cars, EVs, when other carmakers - and especially the U.S. and German manufacturers - were mostly focused on traditional internal combustion engines, ICEs.He gained an almost cult-like following among retail investors and used the resultant share price explosion to raise over $13 billion in four stock offerings. Car-making is a capital-intensive industry, and such low capital costs gave it an advantage to get off the ground and into the big league.Tesla also had good profit margins. Being a newcomer to car manufacturing, Tesla did not have legacy car maker problems such as restrictive unions and large company bureaucracies to add cost, plus EVs require many fewer components than ICEs. That makes Tesla's profit margins better - gross margins were 23% in fiscal 2020, compared with Ford's (F) 10%. That gap is closing. Tesla's superior margins over other carmakers are used by many believers to justify its high valuation, but - while they are good compared with many - they are not sufficiently better than the world's largest carmaker Toyota (TM,OTCPK:TOYOF) to do make the difference so extreme.Toyota's P/E is 10.9. Tesla's P/E is 103.77 - nearly 10 times Toyota's!Toyota's market cap $260bn. Tesla's $967bn - nearly 4 times Toyota's!The latest gross margin (\"GM\") figures show this:Tesla's GM: 28%. Net: 10.5%. Ops: 14.6%Toyota's GM: 18%. Net: 8.5%. Ops: 8%That GM gap will close when Toyota (and other ICE makers) build more EVs because of the hugely lower amount of materials needed to build EV motors than ICEs, so either TM's P/E should shoot up or TSLA's crash down.The latest results from Tesla's website were good, but the Gross Margin is declining.Source: Tesla.If more financial information is required, it can be found here onTesla's website.Cash and cash equivalents are good, but billions will be needed to build the additional giant factories required, as might the many existing problems that remain unresolved with new ones still emerging.I will now move on to those...Problems - Internal Self-InflictedThere are many self-inflicted problems, and many have yet to be resolved. The latest are claims by California's DMV that Tesla overstated its autopilot capabilities. ThisReutersarticle tells more about that. California is Tesla's largest U.S. market. The company sold 121,000 vehicles there in 2021, out of an estimated 352,000 sold nationwide. The DMV is seeking remedies that could include suspending Tesla's license to sell vehicles in California and requiring the company to make restitution to drivers.Wikipedia has this list of lawsuits against Tesla.I know of no other reputable company that has stirred up so much controversy. The \"autopilot\" - the word used by Elon Musk to describe Tesla's driver assistance technology - fatality case could prove to be fatal or near-fatal for the whole company. Autoblog tells us more on that.Currently, in a car accident in the U.S., the driver of one car sues the driver of the other car. It is only very seldom the car manufacturer is sued. For self-driving cars, however, things are likely to be different. There aren't other drivers to sue. There is just the car - and the company that made it. It won't take long for plaintiffs' lawyers to start filing big lawsuits, even class actions, against the car and technology companies that made the cars and designed the self-driving technology. And, as we have seen in other such situations, there could soon be billion-dollar judgments against Tesla.Recall and Warranty costs. In 2021, Tesla recalled 475,000 vehicles for safety issues in the U.S. alone. Barron's recently reported that, since January, 2022, Tesla has issued four recalls for almost 1.5 million vehicles worldwide, according to the National Highway Traffic Safety Administration. That's roughly four times the 360,000 cars that Tesla delivered in the U.S. in 2021, and a half-million more, at least, than the 936,000 delivered worldwide. Global deliveries rose about 87%, compared with 2020. Those problems have to be fixed free of charge, plus many other problems require fixing under warranty.They all require the vehicle to be returned to a dealer to be fixed. They are a nuisance for the owners and costly for Tesla shareholders.Musk's Antics. I borrowed the word antic from Al Jazeera's report headed \"Musk's antics turn Tesla owners, new buyers against it.\"Another antic was buying into solar panels. This is a U.S.-only market for Tesla. He got into solar by buying a troubled company founded by his cousins and on whose board he sat. That was paid for with Tesla shareholders' money and led to a failed lawsuit by them, according to this Business Insider report. Its policy has been to offer lowest price guarantees, which is suicidal in such a commodity product market sector and - to reduce costs in the U.S. further - President Biden has waived tariffs on solar panels imported from Cambodia, Malaysia, Thailand, and Vietnam. A CNET report also claims that \"Tesla is skimping on customer service.\"This activity will be a constant drain on Tesla profits until closed!Share sales. Musk's latest antic is to sell more Tesla shares purportedly to prepare any payment he may have to pay for his Twitter bid. One has to question why did he sell now if he has confidence the stock price will be higher when the outcome of that case against him is known?! This SA News report headed \"Elon Musk backtracks on stock pledge\" tells more, including \"he now owns just under 15% of Tesla.\" One day he may be a total high-price dropout!Musk's Aims. As a visionary, he has achieved near miracles to get Tesla where it is today. However, it will need another miracle in the near future if 20 million cars are to be made, and even aiming for them could put Tesla into reverse gear financially. At Tesla's recent Cyber Round Up in Austin, Texas, Musk said the company would \"end up building at least 10 or 12 Gigafactories.\" Those Gigafactories cost Gigabucks to build. They also require years to build, and he needs them soon if he is to make 20 million cars per year by2030. That means completion before the end of 2029 - just over 7 years away. None have been started, nor even have locations been announced!In the unlikely event Tesla achieved that number, it would require another miracle to sell that many cars, because gaining 16.4% of the entire world car market - including ICEs - is probably impossible for any car maker.GlobeNewswiremade the 2030 estimate of total car market size in 2030 of 122.83 million units that I used to calculate that market share percentage. It makes worthwhile reading.It also looks rather stupid ifS&P Global's estimate of 26.8 million EV sales by 2030 proves correct. That would mean Tesla has to achieve 75% EV market share!Toyota is the world's largest carmaker and manufactures around 10 million cars per year. It has around 10% of the world market. It makes ICEs, hybrids, plug-in hybrids, battery EVs, and hydrogen cars. Tesla only makes battery EVs.It therefore takes a bit of a stretch of the imagination to see Tesla selling 20 million cars per year by 2030... if it can make them!Problems - ExternalLithium supplies. The Financial Times recently published this article headed \"Electric-car makers warned lithium supply crunch is set to last until 2030.\"Political and economic. The new Inflation Reduction Act could have a perverse and unintended negative result for Tesla. The $7,500 electric vehicle tax credit will be renewed in January of 2023 and last until the end of 2032. A striking new requirement is that qualifying cars must be assembled in North America and that materials and critical minerals in the battery must come from the U.S. or a country with a free trade agreement with the U.S. That means some electric vehicles sold in the U.S. will be ineligible as soon as the bill takes effect. Chinese battery maker Contemporary Amperex Technology Co., Limited (\"CATL\"), who make some batteries for Tesla, has dropped plans to make them in the U.S.Political backlashes. Elon Musk has probably made some enemies at the political topin Californiadue to his personal move, and Tesla's HQ, from there to Texas. They may encourage a harsh judgement in DMV's autopilot case against Tesla that I mentioned above.Tesla may yet face other challenges due to his behavior in Germany. That country is full of bureaucracies, some of which wanted to prevent the car and battery factory near Berlin from being built in the first place. Also, local residents and environmentalists - including Green party politicians - did not want their environmentally and visually valuable forest torn down, as this report shows. Elon Musk apparently barged through those bureaucratic regulations and local and environmental objections and started building without proper approvals. The battery factory has still not been started. Their unanswered environmental problems remain. This CNBC article tells more.The UK is in or near recession, as are several EU continues. They include important German, UK, French, and Italian car makers, all of which have poured billions into making EVs.That brings me to another major problem for Tesla...Competition-Loss of a previously exclusive big Tesla buyer. EV subscription company Autonomy has placed an order for 23,000 EVs with 17 global automakers to expand and diversify its subscription fleet beyond just Tesla vehicles. Autonomy currently has 1,000 cars, all of which are Tesla models. The fleet order valued at $1.2B includes EVs from BMW (OTCPK:BMWYY), Canoo (GOEV), Fisker (FSR), Ford (F), General Motors (GM), Hyundai (OTCPK:HYMTF), Lucid Group (LCID), Mercedes-Benz (OTCPK:DDAIF), Polestar (PSNY), Rivian (RIVN), Stellantis (STLA), Subaru (OTCPK:FUJHY), Tesla (TSLA), Toyota Motor, VinFast, Volvo Car (OTCPK:VLVOF), and Volkswagen (OTCPK:VLKAF).-Others lead the autopilot race. Tesla's autopilot faces costly attacks and is anyway losing the race to others, as this chart showsinverse.comWaymo leads with Baidu not far behind...-Chinese tech giant, Baidu(BIDU) has securedthe first permits in China to offer commercial fully driverless robotaxi services to the public on open roads.Wei Dong, vice president and chief safety operation officer of Baidu's Intelligent Driving Group, said in a statement:\"We believe these permits are a key milestone on the path to the inflection point when the industry can finally roll out fully autonomous driving services at scale.\"Baidu will sell its technology to other car makers helping those leapfrog over Tesla.It will also make cars having unveiled the Apollo RT6 - photo above - an EV ready for production with aninitial starting price of $37,000. Jidu Auto, which is a joint venture between Baidu and Geely Automobile Holdings (OTCPK:GELYY) is looking at raising between $300M and $400M as it seeks to launch its first commercial vehicle in 2023.- Apple (AAPL) may have this fully autonomous EVon the road by 2025. Rumors suggest it will be made by Hyundai. If so, maybe their worldwide dealer network will sell and service it.Apple reportedly poacheda top executive from Italian luxury carmaker Lamborghini for its car project.- China's BYD (OTCPK:BYDDF,OTCPK:BYDDY) sold 641,350 EVs in the first six months of 2022, representing a 315% increase from the same period last year. Tesla, on the other hand, delivered a total of 564,743 vehicles in H1.- Century-old car makers are determined to be around for another century! Every major maker is spending billions on EVs. A JV between Stellantis (STLA) and Samsung (OTCPK:SSNLF) is building a $2.5 billion battery factory in Indiana. General Motors is spending $7bn to convert an existing factory to make EVs. That shows another advantage traditional car makers have overTesla.It costs less to convert an existing plant to make EVs than to build a new one from scratch, plus they have an established workforce and customer base.A report on SA tells us that GM's all-electric Hummer draws rave review from Barron's.Ford is spending $11 billion on plants in Tennessee and Kentucky, and plans to build 600,000 EVs by the end of next year.European companies are likewise spending huge sums at home and in the U.S. to build EVs and battery factories.Putting all those above points into one big picture and I conclude that...Tesla Is Beyond Its Sell-By DateI mentioned Elon Musk's sales above. He is not the only insider to have been selling; Robyn Denholm - Chairman of the Board - was a huge seller in May and June this year. From the Financial Times, the last time I could find news of insiders buying - including a tiny buy by Elon Musk - was in February 2020:Source: Financial TimesIf Insiders are big sellers - and none buy - why should outsiders do otherwise?!","news_type":1},"isVote":1,"tweetType":1,"viewCount":715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9048526321,"gmtCreate":1656227248363,"gmtModify":1676535789172,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"[Smug]&nbsp;","listText":"[Smug]&nbsp;","text":"[Smug]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9048526321","repostId":"1191010488","repostType":4,"repost":{"id":"1191010488","kind":"news","pubTimestamp":1656202469,"share":"https://ttm.financial/m/news/1191010488?lang=&edition=fundamental","pubTime":"2022-06-26 08:14","market":"us","language":"en","title":"Warren Buffett's 4 Rules for Investing in a Bear Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1191010488","media":"Motley Fool","summary":"Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as theS&P 500 was on its way to a 35% dipthat bottomed in 1942. Since then, he's managed through 12 more bear markets not including this one.Despite those downturns, Buffett has managed to create billions in value for himself and the shareholders of the company he runs,Berkshire Hathaway. If any investor is qualified to share wisdom on investing in bear markets, it's Buffett.So it m","content":"<html><head></head><body><p>Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as the S&amp;P 500 was on its way to a 35% dip that bottomed in 1942. Since then, he&#39;s managed through 12 more bear markets not including this one.</p><p>Despite those downturns, Buffett has managed to create billions in value for himself and the shareholders of the company he runs, Berkshire Hathaway. If any investor is qualified to share wisdom on investing in bear markets, it&#39;s Buffett.</p><p>So it makes sense to lean on his expertise to get through this tough climate with your wealth intact, right? To get you started, here are four of Buffett&#39;s famous rules for investing in a bear market.</p><p>1. Buy quality merchandise on sale</p><blockquote><i>&#34;Whether we&#39;re talking about socks or stocks, I like buying quality merchandise when it is marked down.&#34;</i></blockquote><p>Buffett invests in high-quality businesses -- companies with a proven ability to create shareholder value through all economic climates. In his view, bear markets provide opportunities to buy these quality stocks at lower prices.</p><p>As an example, Buffett&#39;s response earlier this year to the tech stock sell-off was to buy more of his favorite technology company, Apple. Although Apple already comprised more than 40% of Berkshire Hathaway&#39;s portfolio, Buffett bought another 3.78 million shares.</p><p>You can mimic his strategy by identifying stocks you love for their long-term prospects. If your budget allows, increase your investing activity and pad your share counts while prices remain low.</p><p>2. Hold forever</p><blockquote><i>&#34;Our favorite holding period is forever.&#34;</i></blockquote><p>When you buy stocks you&#39;d like to hold forever, bear markets become far less stressful. Since your plan is to hold for the long run, you don&#39;t have to do anything when the market goes sideways. No reshuffling your portfolio and no guessing when share prices will bottom out. Your only job is to wait.</p><p>3. Stay calm</p><blockquote><i>&#34;The most important quality for an investor is temperament, not intellect.&#34;</i></blockquote><p>It&#39;s normal and useful to second-guess your &#34;hold forever&#34; plan when circumstances change. Certainly, there will be times when you should drop a stock you thought was a keeper.</p><p>The distinction you must make is whether circumstances have changed permanently or temporarily. And that&#39;s easier to do when you can analyze what&#39;s happening calmly and rationally. If you let your emotions take over, they can convince you to scrap your plan, cut your losses, or take some other dramatic action that&#39;s sure to dampen your long-term returns.</p><p>4. Keep your distance</p><p>Buffett said this when asked what advice he had for investors in tough markets:<i>&#34;I would tell them: Don&#39;t watch the market too closely.&#34;</i></p><p>Let&#39;s say you&#39;re confident that your &#34;hold forever&#34; stocks can withstand a temporary bear market. And for that reason, you&#39;re not going to react to falling share prices. In that scenario, what&#39;s the benefit of tracking every bump along the way? There isn&#39;t one.</p><p>It&#39;s OK to keep some distance from financial headlines when the market is going crazy. Consider it a survival strategy that helps you stay calm and stick to your investing plan.</p><p>Buy or do nothing</p><p>When a bear market sets in, you&#39;ll see Buffett mostly buy or hold. If you&#39;re questioning whether those are the right moves for your portfolio, remember this: Buffett is worth about $95 billion, and he has invested through more bear markets than almost anyone. His tactics can help you emerge from this bear market stronger and wealthier than ever.</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>Warren Buffett's 4 Rules for Investing in a Bear Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWarren Buffett's 4 Rules for Investing in a Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-26 08:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zacks.com/stock/news/1943735/how-to-pick-great-value-stocks-like-warren-buffett?art_rec=home-home-top_stories-ID01-txt-1943735><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as the S&P 500 was on its way to a 35% dip that bottomed in 1942. Since then, he's ...</p>\n\n<a href=\"https://www.zacks.com/stock/news/1943735/how-to-pick-great-value-stocks-like-warren-buffett?art_rec=home-home-top_stories-ID01-txt-1943735\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.zacks.com/stock/news/1943735/how-to-pick-great-value-stocks-like-warren-buffett?art_rec=home-home-top_stories-ID01-txt-1943735","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191010488","content_text":"Warren Buffett began his investing career in a bear market. He bought his first stock in the early 1940s at age 11 as the S&P 500 was on its way to a 35% dip that bottomed in 1942. Since then, he's managed through 12 more bear markets not including this one.Despite those downturns, Buffett has managed to create billions in value for himself and the shareholders of the company he runs, Berkshire Hathaway. If any investor is qualified to share wisdom on investing in bear markets, it's Buffett.So it makes sense to lean on his expertise to get through this tough climate with your wealth intact, right? To get you started, here are four of Buffett's famous rules for investing in a bear market.1. Buy quality merchandise on sale\"Whether we're talking about socks or stocks, I like buying quality merchandise when it is marked down.\"Buffett invests in high-quality businesses -- companies with a proven ability to create shareholder value through all economic climates. In his view, bear markets provide opportunities to buy these quality stocks at lower prices.As an example, Buffett's response earlier this year to the tech stock sell-off was to buy more of his favorite technology company, Apple. Although Apple already comprised more than 40% of Berkshire Hathaway's portfolio, Buffett bought another 3.78 million shares.You can mimic his strategy by identifying stocks you love for their long-term prospects. If your budget allows, increase your investing activity and pad your share counts while prices remain low.2. Hold forever\"Our favorite holding period is forever.\"When you buy stocks you'd like to hold forever, bear markets become far less stressful. Since your plan is to hold for the long run, you don't have to do anything when the market goes sideways. No reshuffling your portfolio and no guessing when share prices will bottom out. Your only job is to wait.3. Stay calm\"The most important quality for an investor is temperament, not intellect.\"It's normal and useful to second-guess your \"hold forever\" plan when circumstances change. Certainly, there will be times when you should drop a stock you thought was a keeper.The distinction you must make is whether circumstances have changed permanently or temporarily. And that's easier to do when you can analyze what's happening calmly and rationally. If you let your emotions take over, they can convince you to scrap your plan, cut your losses, or take some other dramatic action that's sure to dampen your long-term returns.4. Keep your distanceBuffett said this when asked what advice he had for investors in tough markets:\"I would tell them: Don't watch the market too closely.\"Let's say you're confident that your \"hold forever\" stocks can withstand a temporary bear market. And for that reason, you're not going to react to falling share prices. In that scenario, what's the benefit of tracking every bump along the way? There isn't one.It's OK to keep some distance from financial headlines when the market is going crazy. Consider it a survival strategy that helps you stay calm and stick to your investing plan.Buy or do nothingWhen a bear market sets in, you'll see Buffett mostly buy or hold. If you're questioning whether those are the right moves for your portfolio, remember this: Buffett is worth about $95 billion, and he has invested through more bear markets than almost anyone. His tactics can help you emerge from this bear market stronger and wealthier than ever.","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9057856754,"gmtCreate":1655506165478,"gmtModify":1676535651296,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9057856754","repostId":"1112551518","repostType":4,"repost":{"id":"1112551518","kind":"news","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":1655474245,"share":"https://ttm.financial/m/news/1112551518?lang=&edition=fundamental","pubTime":"2022-06-17 21:57","market":"us","language":"en","title":"Vaccine Stocks Bounced Back in Morning Trading, With Novavax and Moderna Rising Around 4%","url":"https://stock-news.laohu8.com/highlight/detail?id=1112551518","media":"Tiger Newspress","summary":"Vaccine stocks bounced back in morning trading, with Novavax and Moderna rising around 4%.","content":"<html><head></head><body><p>Vaccine stocks bounced back in morning trading, with Novavax and Moderna rising around 4%.<img src=\"https://static.tigerbbs.com/c9dd5cf486c8d403414c7e177766c272\" tg-width=\"317\" tg-height=\"410\" 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>Vaccine Stocks Bounced Back in Morning Trading, With Novavax and Moderna Rising Around 4%</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\">\nVaccine Stocks Bounced Back in Morning Trading, With Novavax and Moderna Rising Around 4%\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\">2022-06-17 21:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Vaccine stocks bounced back in morning trading, with Novavax and Moderna rising around 4%.<img src=\"https://static.tigerbbs.com/c9dd5cf486c8d403414c7e177766c272\" tg-width=\"317\" tg-height=\"410\" width=\"100%\" height=\"auto\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVAX":"诺瓦瓦克斯医药","MRNA":"Moderna, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112551518","content_text":"Vaccine stocks bounced back in morning trading, with Novavax and Moderna rising around 4%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":55,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9051786093,"gmtCreate":1654740134712,"gmtModify":1676535502645,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Cool.&nbsp;","listText":"Cool.&nbsp;","text":"Cool.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9051786093","repostId":"2242298847","repostType":4,"repost":{"id":"2242298847","kind":"highlight","pubTimestamp":1654731734,"share":"https://ttm.financial/m/news/2242298847?lang=&edition=fundamental","pubTime":"2022-06-09 07:42","market":"hk","language":"en","title":"Why Did Alibaba Shares Rise Almost 15% Wednesday? It's All in the Games","url":"https://stock-news.laohu8.com/highlight/detail?id=2242298847","media":"seekingalpha","summary":"Alibaba (NYSE:BABA) shares climbed almost 15% Wednesday as the Chinese Internet giant benefitted fro","content":"<html><head></head><body><p></p><p><img src=\"https://static.tigerbbs.com/c734479100befddea1e6e6d9d50f31a2\" tg-width=\"750\" tg-height=\"496\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/>Alibaba (NYSE:BABA) shares climbed almost 15% Wednesday as the Chinese Internet giant benefitted from signs that the Beijing government is taking new steps to support its tech sector.</p><p>Early Wednesday, Chinese authorities approved another license for domestic video games, which gave investors enthusiasm about the business prospects for many of China&#39;s leading tech companies. It was the second round of new licenses this week, and came after China put a halt on such licenses last year in and effort to curtail the amount of time minors in the country were spending online.</p><p>With Wednesday&#39;s gains, Alibaba (BABA) shares ended the day at $119.62, their best close since February.</p><p>Along with Alibaba (BABA) other Chinese stocks flexed their muscles, with JD.com (JD) rising almost 8%, PinDuoDuo (PDD) climbing nearly 10%, Baidu (BIDU) and ride-sharing leader DiDi Global (DIDI) rising more than 12% on the day.</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Did Alibaba Shares Rise Almost 15% Wednesday? It's All in the Games</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 Did Alibaba Shares Rise Almost 15% Wednesday? It's All in the Games\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-09 07:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3846903-why-did-alibaba-shares-rose-almost-15-wednesday-its-all-in-the-games><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Alibaba (NYSE:BABA) shares climbed almost 15% Wednesday as the Chinese Internet giant benefitted from signs that the Beijing government is taking new steps to support its tech sector.Early Wednesday, ...</p>\n\n<a href=\"https://seekingalpha.com/news/3846903-why-did-alibaba-shares-rose-almost-15-wednesday-its-all-in-the-games\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4548":"巴美列捷福持仓","BK4514":"搜索引擎","BK4565":"NFT概念","BK4539":"次新股","BK4554":"元宇宙及AR概念","09618":"京东集团-SW","BK4531":"中概回港概念","BK4553":"喜马拉雅资本持仓","BIDU":"百度","DIDI":"滴滴(已退市)","BK4534":"瑞士信贷持仓","QNETCN":"纳斯达克中美互联网老虎指数","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4575":"芯片概念","BK4558":"双十一","BK4509":"腾讯概念","PDD":"拼多多","BK4524":"宅经济概念","BK4535":"淡马锡持仓","DIDIY":"DiDi Global Inc.","BK4527":"明星科技股","BK4538":"云计算","BK4501":"段永平概念","BK4077":"互动媒体与服务","BK4579":"人工智能","BK4526":"热门中概股","BABA":"阿里巴巴","BK4552":"Archegos爆仓风波概念","BK4503":"景林资产持仓","BK4122":"互联网与直销零售","BK4574":"无人驾驶","BK4551":"寇图资本持仓","JD":"京东","BK4502":"阿里概念","09988":"阿里巴巴-W","BK4022":"陆运","BK4561":"索罗斯持仓","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","BK4504":"桥水持仓"},"source_url":"https://seekingalpha.com/news/3846903-why-did-alibaba-shares-rose-almost-15-wednesday-its-all-in-the-games","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2242298847","content_text":"Alibaba (NYSE:BABA) shares climbed almost 15% Wednesday as the Chinese Internet giant benefitted from signs that the Beijing government is taking new steps to support its tech sector.Early Wednesday, Chinese authorities approved another license for domestic video games, which gave investors enthusiasm about the business prospects for many of China's leading tech companies. It was the second round of new licenses this week, and came after China put a halt on such licenses last year in and effort to curtail the amount of time minors in the country were spending online.With Wednesday's gains, Alibaba (BABA) shares ended the day at $119.62, their best close since February.Along with Alibaba (BABA) other Chinese stocks flexed their muscles, with JD.com (JD) rising almost 8%, PinDuoDuo (PDD) climbing nearly 10%, Baidu (BIDU) and ride-sharing leader DiDi Global (DIDI) rising more than 12% on the day.","news_type":1},"isVote":1,"tweetType":1,"viewCount":65,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9027697241,"gmtCreate":1654034436983,"gmtModify":1676535379741,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"It's going to be a nightmare&nbsp;","listText":"It's going to be a nightmare&nbsp;","text":"It's going to be a nightmare","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9027697241","repostId":"2239728861","repostType":4,"repost":{"id":"2239728861","kind":"highlight","pubTimestamp":1654007908,"share":"https://ttm.financial/m/news/2239728861?lang=&edition=fundamental","pubTime":"2022-05-31 22:38","market":"us","language":"en","title":"Grab Surged 13.69% as Upgraded to Outperform","url":"https://stock-news.laohu8.com/highlight/detail?id=2239728861","media":"seekingalpha","summary":"Grab Holdings (NASDAQ:GRAB) shares surged 13.69% in Tuesday morning trading after Bernstein analyst ","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/489b2d62b9e839d534d4b2126a8c2727\" tg-width=\"750\" tg-height=\"500\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p><a href=\"https://laohu8.com/S/GRAB\">Grab Holdings</a> (NASDAQ:GRAB) shares surged 13.69% in Tuesday morning trading after Bernstein analyst Venugopal Garre upgraded the stock to Outperform from Market Perform on improving momentum in its ride-hailing segment.</p><p><img src=\"https://static.tigerbbs.com/6f6c4e64fdb17d86336fb0ca3030f51f\" tg-width=\"830\" tg-height=\"840\" width=\"100%\" height=\"auto\"/></p><p>The expected rebound in ride-hailing should help to offset a moderation in food delivery. The upgrade also reflects potential long-term value from fintech and grocery segments, he said.</p><p>&#34;Ride-hailing will benefit from the reopening, and the scale-up can be non-linear as demand for mobility normalizes and costs reduce with an increase in driver supply,&#34; Garre wrote in a note to clients. &#34;Near term, while driver supply and fuel challenges remain, we see this reflected in valuations. We expect a 35% CAGR in bookings (CY&#39;21-&#39;24), with margins bottoming in 1H22.&#34;</p></body></html>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab Surged 13.69% as Upgraded to Outperform</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\">\nGrab Surged 13.69% as Upgraded to Outperform\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-31 22:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3843893-grab-holdings-upgraded-to-outperform-as-ride-hailing-set-to-rebound><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Grab Holdings (NASDAQ:GRAB) shares surged 13.69% in Tuesday morning trading after Bernstein analyst Venugopal Garre upgraded the stock to Outperform from Market Perform on improving momentum in its ...</p>\n\n<a href=\"https://seekingalpha.com/news/3843893-grab-holdings-upgraded-to-outperform-as-ride-hailing-set-to-rebound\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"source_url":"https://seekingalpha.com/news/3843893-grab-holdings-upgraded-to-outperform-as-ride-hailing-set-to-rebound","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2239728861","content_text":"Grab Holdings (NASDAQ:GRAB) shares surged 13.69% in Tuesday morning trading after Bernstein analyst Venugopal Garre upgraded the stock to Outperform from Market Perform on improving momentum in its ride-hailing segment.The expected rebound in ride-hailing should help to offset a moderation in food delivery. The upgrade also reflects potential long-term value from fintech and grocery segments, he said.\"Ride-hailing will benefit from the reopening, and the scale-up can be non-linear as demand for mobility normalizes and costs reduce with an increase in driver supply,\" Garre wrote in a note to clients. \"Near term, while driver supply and fuel challenges remain, we see this reflected in valuations. We expect a 35% CAGR in bookings (CY'21-'24), with margins bottoming in 1H22.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":70,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9067076895,"gmtCreate":1652398680417,"gmtModify":1676535091350,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Nice to know","listText":"Nice to know","text":"Nice to know","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9067076895","repostId":"2235182631","repostType":4,"repost":{"id":"2235182631","kind":"news","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":1652395561,"share":"https://ttm.financial/m/news/2235182631?lang=&edition=fundamental","pubTime":"2022-05-13 06:46","market":"us","language":"en","title":"Affirm Lifts Revenue Outlook, Extends Shopify Deal","url":"https://stock-news.laohu8.com/highlight/detail?id=2235182631","media":"Reuters","summary":"Affirm Holdings Inc raised its annual revenue forecast and said it has extended a multi-year partner","content":"<html><head></head><body><p>Affirm Holdings Inc raised its annual revenue forecast and said it has extended a multi-year partnership with Shopify in the United States, sending shares of the buy now, pay later (BNPL) firm up 34% aftermarket on Thursday.</p><p><img src=\"https://static.tigerbbs.com/4105316a4850851f2b491651bc4263d7\" tg-width=\"877\" tg-height=\"620\" width=\"100%\" height=\"auto\"/></p><p>San Francisco-based Affirm&#39;s third-quarter revenue surged 54%, surpassing the company&#39;s estimates, as it benefited from higher interest income and loan sale volumes as well as a surge in users.</p><p>&#34;Our strong performance demonstrates our ability to drive growth with attractive unit economics, despite volatile market conditions,&#34; Chief Financial Officer Michael Linford said in a statement.</p><p>The company&#39;s results are in sharp contrast to fintech firm Upstart Holdings, which lowered its annual revenue outlook on Tuesday in a sign of declining loan demand as interest rates rise amid decades-high inflation.</p><p>Affirm said active merchants on its platform grew to 207,000 from 12,000 last year, while active consumers increased 137% to 12.7 million.</p><p>BNPL firms like Affirm earn from charging merchants a fee to offer their customers small, point-of-sale loans which are paid back in interest-free installments over a period of time, bypassing credit checks.</p><p>&#34;Affirm is well-positioned for continued growth and long-term value creation ... We plan to achieve a sustained profitability run rate on an adjusted operating income basis by July 1, 2023,&#34; Chief Executive Officer Max Levchin said.</p><p>Affirm raised its full-year revenue forecast to between $1.33 billion and $1.34 billion, up from $1.29 billion to $1.31 billion earlier.</p><p>The company also narrowed its loss to $54.7 million, or 19 cents a share, from $287 million, or $1.23 a share, a year ago, as it recognized a $136.2 million gain in the third quarter.</p><p>Analysts had expected a loss of 51 cents a share, according to data from Refinitiv.</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>Affirm Lifts Revenue Outlook, Extends Shopify Deal</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\">\nAffirm Lifts Revenue Outlook, Extends Shopify Deal\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\">2022-05-13 06:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Affirm Holdings Inc raised its annual revenue forecast and said it has extended a multi-year partnership with Shopify in the United States, sending shares of the buy now, pay later (BNPL) firm up 34% aftermarket on Thursday.</p><p><img src=\"https://static.tigerbbs.com/4105316a4850851f2b491651bc4263d7\" tg-width=\"877\" tg-height=\"620\" width=\"100%\" height=\"auto\"/></p><p>San Francisco-based Affirm&#39;s third-quarter revenue surged 54%, surpassing the company&#39;s estimates, as it benefited from higher interest income and loan sale volumes as well as a surge in users.</p><p>&#34;Our strong performance demonstrates our ability to drive growth with attractive unit economics, despite volatile market conditions,&#34; Chief Financial Officer Michael Linford said in a statement.</p><p>The company&#39;s results are in sharp contrast to fintech firm Upstart Holdings, which lowered its annual revenue outlook on Tuesday in a sign of declining loan demand as interest rates rise amid decades-high inflation.</p><p>Affirm said active merchants on its platform grew to 207,000 from 12,000 last year, while active consumers increased 137% to 12.7 million.</p><p>BNPL firms like Affirm earn from charging merchants a fee to offer their customers small, point-of-sale loans which are paid back in interest-free installments over a period of time, bypassing credit checks.</p><p>&#34;Affirm is well-positioned for continued growth and long-term value creation ... We plan to achieve a sustained profitability run rate on an adjusted operating income basis by July 1, 2023,&#34; Chief Executive Officer Max Levchin said.</p><p>Affirm raised its full-year revenue forecast to between $1.33 billion and $1.34 billion, up from $1.29 billion to $1.31 billion earlier.</p><p>The company also narrowed its loss to $54.7 million, or 19 cents a share, from $287 million, or $1.23 a share, a year ago, as it recognized a $136.2 million gain in the third quarter.</p><p>Analysts had expected a loss of 51 cents a share, according to data from Refinitiv.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AFRM":"Affirm Holdings, Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2235182631","content_text":"Affirm Holdings Inc raised its annual revenue forecast and said it has extended a multi-year partnership with Shopify in the United States, sending shares of the buy now, pay later (BNPL) firm up 34% aftermarket on Thursday.San Francisco-based Affirm's third-quarter revenue surged 54%, surpassing the company's estimates, as it benefited from higher interest income and loan sale volumes as well as a surge in users.\"Our strong performance demonstrates our ability to drive growth with attractive unit economics, despite volatile market conditions,\" Chief Financial Officer Michael Linford said in a statement.The company's results are in sharp contrast to fintech firm Upstart Holdings, which lowered its annual revenue outlook on Tuesday in a sign of declining loan demand as interest rates rise amid decades-high inflation.Affirm said active merchants on its platform grew to 207,000 from 12,000 last year, while active consumers increased 137% to 12.7 million.BNPL firms like Affirm earn from charging merchants a fee to offer their customers small, point-of-sale loans which are paid back in interest-free installments over a period of time, bypassing credit checks.\"Affirm is well-positioned for continued growth and long-term value creation ... We plan to achieve a sustained profitability run rate on an adjusted operating income basis by July 1, 2023,\" Chief Executive Officer Max Levchin said.Affirm raised its full-year revenue forecast to between $1.33 billion and $1.34 billion, up from $1.29 billion to $1.31 billion earlier.The company also narrowed its loss to $54.7 million, or 19 cents a share, from $287 million, or $1.23 a share, a year ago, as it recognized a $136.2 million gain in the third quarter.Analysts had expected a loss of 51 cents a share, according to data from Refinitiv.","news_type":1},"isVote":1,"tweetType":1,"viewCount":78,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9067076105,"gmtCreate":1652398665607,"gmtModify":1676535091341,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9067076105","repostId":"2235184020","repostType":4,"repost":{"id":"2235184020","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1652397629,"share":"https://ttm.financial/m/news/2235184020?lang=&edition=fundamental","pubTime":"2022-05-13 07:20","market":"us","language":"en","title":"Senate Confirms Jerome Powell to Second Term Leading Federal Reserve","url":"https://stock-news.laohu8.com/highlight/detail?id=2235184020","media":"Dow Jones","summary":"The Senate confirmed Federal Reserve Chairman Jerome Powell to a second four-year term that is shapi","content":"<html><head></head><body><p>The Senate confirmed Federal Reserve Chairman Jerome Powell to a second four-year term that is shaping up to be every bit as trying as his first term as the central bank faces the highest inflation in 40 years.</p><p>Mr. Powell&#39;s nomination, approved Thursday on an 80-19 bipartisan vote, has been on track for months to win bipartisan approval despite unease over inflation and aggressive interest-rate increases that the Fed has urgently commenced to cool price pressures.</p><p>Separately, Mr. Powell said Thursday the Fed was prepared to act aggressively to bring down inflation to its 2% goal even if it created a short-term hit to the economy, his most explicit acknowledgment of the risks posed by a sequence of rapid rate rises.</p><p>&#34;The process of getting inflation down to 2% will also include some pain, but ultimately, the most painful thing would be if we were to fail to deal with it,&#34; he said on the Marketplace radio program. &#34;Ultimately, we&#39;d have to go through a much deeper downturn.&#34;</p><p>President Biden said last fall he would reappoint Mr. Powell, opting for continuity as the scale of the central bank&#39;s challenges in controlling inflation was becoming more evident. Mr. Powell, 69 years old, was tapped by President Donald Trump in 2018 to lead the central bank, six years after he won an appointment from President Barack Obama to its board of governors.</p><p>Mr. Powell, a former private-equity executive, was supported by lawmakers in both parties in an unusual show of broad political support for the central bank leader, who navigated the Fed&#39;s rapid response to a pandemic-driven economic emergency in 2020. &#34;Chair Powell is respected on both sides of the aisle for his steady leadership during the pandemic, &#34; Sen. Mark Warner (D., Va.) said.</p><p>Six members who caucus with the Democrats and 13 Republicans voted against him.</p><p>Some lawmakers voting against him cited his handling of Fed policy as inflation rose. &#34;Powell and the rest of the Fed have failed the American people. We should not reward failure,&#34; Sen. Richard Shelby (R., Ala.) said in a statement.</p><p>Mr. Powell&#39;s description of price increases last year as temporary and decisions to initially withdraw stimulus slowly -- particularly after the Biden administration approved a $1.9 trillion spending bill -- has drawn criticism from economists on both sides of the aisle.</p><p>&#34;As part of restoring its credibility, the Fed needs to engage in some kind of after-action report that tries to analyze why they...were as wrong as they were in assessing the inflation risk and judging inflation to be transitory during 2021,&#34; former Treasury Secretary Lawrence Summers said in an interview last week.</p><p>Since the end of last year, Mr. Powell has pivoted the Fed toward rapidly removing stimulus. The Fed has raised interest rates twice this year, most recently last week by a half percentage point -- the first such increase since 2000 -- to a range between 0.75% and 1%. Mr. Powell signaled further half-point increases are likely until the central bank is confident that inflation is set to slow.</p><p>&#34;If you had perfect hindsight...it probably would have been better for us to have raised rates sooner,&#34; Mr. Powell said in the radio interview on Thursday. &#34;We have to make decisions in real-time, based on what we know then.&#34;</p><p>Mr. Powell repeated his view that further half-point increases are likely until the central bank is confident that inflation is set to slow, but he said the Fed could consider larger rate rises if economic data call for such steps. Many investors took a comment he made last week to suggest that the Fed had ruled out raising rates by 0.75 percentage point.</p><p>Such a policy path makes it more likely that officials lift rates high enough to cause a recession. That is a different scenario from the more optimistic one sketched out in officials&#39; March policy projections, a so-called soft landing in which inflation falls but unemployment stays low and the economy keeps growing.</p><p>The war in Ukraine has complicated the Fed&#39;s ability to achieve a soft landing because wars are often inflationary and the West&#39;s sanctioning of Russia threatens to further aggravate commodity price increases and global supply-chain disruptions.</p><p>Consumer prices rose 6.6% in March from a year before, as measured by the Fed&#39;s preferred gauge, the Commerce Department&#39;s personal-consumption expenditures price index.</p><p>Meanwhile, the unemployment rate in April stood at 3.6%, near a half-century low.</p><p>&#34;The history is that every time we&#39;ve had inflation above 4% and unemployment below 4%, we&#39;ve had a recession in the next two years,&#34; said Mr. Summers. &#34;It&#39;s definitely odds off that we will have a soft landing.&#34;</p><p>Several times on Thursday, Mr. Powell said he was realistic about the challenges of raising rates to cool demand and bring down inflation without higher unemployment. &#34;It will be challenging. It won&#39;t be easy. No one here thinks that it will be easy,&#34; he said.</p><p>One concern is that the surge in prices becomes intense enough or lasts long enough to change consumers&#39; and businesses&#39; inflation psychology, making those expectations self-fulfilling. If workers anticipate a robust inflation rate in a year&#39;s time, they could seek higher wages now.</p><p>&#34;The one thing we really cannot do is fail to restore price stability,&#34; Mr. Powell said Thursday. &#34;The economy doesn&#39;t work for anyone unless you do that.&#34;</p><p>Last fall, some progressive Democrats heavily lobbied Mr. Biden to replace Mr. Powell with someone who would adhere to his easy-money postpandemic stimulus policies while taking a tougher approach to financial regulation, particularly by using bank supervision tools to shape climate change policy.</p><p>White House advisers saw Mr. Powell as someone who could more easily secure Senate confirmation. They further credited him with providing a steady hand during the pandemic and an earlier interval in which he deflected attacks from Mr. Trump, who wanted more Fed stimulus before the pandemic.</p><p>Mr. Powell&#39;s nomination was paired with the promotion of Fed governor Lael Brainard to serve as vice chairwoman. The Senate confirmed her to that position on April 26.</p><p>Mr. Biden has been able to further put his stamp on the central bank with the confirmation earlier this week of two other economists to fill vacancies on the Fed&#39;s Washington-based board of governors -- Lisa Cook of Michigan State University and Philip Jefferson of Davidson College.</p><p>With Mr. Powell&#39;s confirmation, Mr. Biden will have named four of six Fed governors to their current positions. Some analysts have speculated the new nominees might favor less-aggressive rate increases, but they are unlikely to slow the Fed from pursuing a faster pace of tightening so long as inflation remains well above the Fed&#39;s 2% target.</p><p>The president also nominated Michael Barr, a law professor at the University of Michigan, to serve as the Fed&#39;s vice chairman of bank supervision and fill a final vacancy on the seven-person board. His confirmation hearing is set for May 19.</p><p>Mr. Powell&#39;s first four-year term as chairman expired in early February and he has been serving in an acting capacity as &#34;chair pro tempore&#34; since then. The confirmation process for the Fed nominations stalled in February when Democrats refused to move Mr. Biden&#39;s picks individually and Republicans refused to vote on his initial selection for vice chairwoman of bank supervision, Sarah Bloom Raskin, who withdrew from consideration in March.</p><p>The political support that Mr. Powell cultivated proved valuable throughout his first term. He navigated a policy U-turn from raising rates to cutting them in 2019 while Mr. Trump threatened to fire the Fed leader for not providing easier monetary policy. Mr. Powell made clear in private that there were no circumstances, short of his death, under which he would voluntarily be forced from his job.</p><p>Later, he orchestrated one of the boldest economic policy responses since World War II, acting in concert with Congress and the U.S. Treasury. The Fed slashed interest rates to zero and then purchased trillions of dollars of government debt and offered to buy trillions more in loans and other assets to backstop credit markets.</p><p>At a congressional hearing in early March, Sen. John Kennedy (R., La.) lauded Mr. Powell&#39;s fast action when the pandemic hit in March 2020. &#34;Government shut down the private sector.... Markets are panicking. Everybody&#39;s looking at you to calm things down,&#34; he said. &#34;You did.&#34;</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>Senate Confirms Jerome Powell to Second Term Leading Federal Reserve</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\">\nSenate Confirms Jerome Powell to Second Term Leading Federal Reserve\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2022-05-13 07:20</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>The Senate confirmed Federal Reserve Chairman Jerome Powell to a second four-year term that is shaping up to be every bit as trying as his first term as the central bank faces the highest inflation in 40 years.</p><p>Mr. Powell&#39;s nomination, approved Thursday on an 80-19 bipartisan vote, has been on track for months to win bipartisan approval despite unease over inflation and aggressive interest-rate increases that the Fed has urgently commenced to cool price pressures.</p><p>Separately, Mr. Powell said Thursday the Fed was prepared to act aggressively to bring down inflation to its 2% goal even if it created a short-term hit to the economy, his most explicit acknowledgment of the risks posed by a sequence of rapid rate rises.</p><p>&#34;The process of getting inflation down to 2% will also include some pain, but ultimately, the most painful thing would be if we were to fail to deal with it,&#34; he said on the Marketplace radio program. &#34;Ultimately, we&#39;d have to go through a much deeper downturn.&#34;</p><p>President Biden said last fall he would reappoint Mr. Powell, opting for continuity as the scale of the central bank&#39;s challenges in controlling inflation was becoming more evident. Mr. Powell, 69 years old, was tapped by President Donald Trump in 2018 to lead the central bank, six years after he won an appointment from President Barack Obama to its board of governors.</p><p>Mr. Powell, a former private-equity executive, was supported by lawmakers in both parties in an unusual show of broad political support for the central bank leader, who navigated the Fed&#39;s rapid response to a pandemic-driven economic emergency in 2020. &#34;Chair Powell is respected on both sides of the aisle for his steady leadership during the pandemic, &#34; Sen. Mark Warner (D., Va.) said.</p><p>Six members who caucus with the Democrats and 13 Republicans voted against him.</p><p>Some lawmakers voting against him cited his handling of Fed policy as inflation rose. &#34;Powell and the rest of the Fed have failed the American people. We should not reward failure,&#34; Sen. Richard Shelby (R., Ala.) said in a statement.</p><p>Mr. Powell&#39;s description of price increases last year as temporary and decisions to initially withdraw stimulus slowly -- particularly after the Biden administration approved a $1.9 trillion spending bill -- has drawn criticism from economists on both sides of the aisle.</p><p>&#34;As part of restoring its credibility, the Fed needs to engage in some kind of after-action report that tries to analyze why they...were as wrong as they were in assessing the inflation risk and judging inflation to be transitory during 2021,&#34; former Treasury Secretary Lawrence Summers said in an interview last week.</p><p>Since the end of last year, Mr. Powell has pivoted the Fed toward rapidly removing stimulus. The Fed has raised interest rates twice this year, most recently last week by a half percentage point -- the first such increase since 2000 -- to a range between 0.75% and 1%. Mr. Powell signaled further half-point increases are likely until the central bank is confident that inflation is set to slow.</p><p>&#34;If you had perfect hindsight...it probably would have been better for us to have raised rates sooner,&#34; Mr. Powell said in the radio interview on Thursday. &#34;We have to make decisions in real-time, based on what we know then.&#34;</p><p>Mr. Powell repeated his view that further half-point increases are likely until the central bank is confident that inflation is set to slow, but he said the Fed could consider larger rate rises if economic data call for such steps. Many investors took a comment he made last week to suggest that the Fed had ruled out raising rates by 0.75 percentage point.</p><p>Such a policy path makes it more likely that officials lift rates high enough to cause a recession. That is a different scenario from the more optimistic one sketched out in officials&#39; March policy projections, a so-called soft landing in which inflation falls but unemployment stays low and the economy keeps growing.</p><p>The war in Ukraine has complicated the Fed&#39;s ability to achieve a soft landing because wars are often inflationary and the West&#39;s sanctioning of Russia threatens to further aggravate commodity price increases and global supply-chain disruptions.</p><p>Consumer prices rose 6.6% in March from a year before, as measured by the Fed&#39;s preferred gauge, the Commerce Department&#39;s personal-consumption expenditures price index.</p><p>Meanwhile, the unemployment rate in April stood at 3.6%, near a half-century low.</p><p>&#34;The history is that every time we&#39;ve had inflation above 4% and unemployment below 4%, we&#39;ve had a recession in the next two years,&#34; said Mr. Summers. &#34;It&#39;s definitely odds off that we will have a soft landing.&#34;</p><p>Several times on Thursday, Mr. Powell said he was realistic about the challenges of raising rates to cool demand and bring down inflation without higher unemployment. &#34;It will be challenging. It won&#39;t be easy. No one here thinks that it will be easy,&#34; he said.</p><p>One concern is that the surge in prices becomes intense enough or lasts long enough to change consumers&#39; and businesses&#39; inflation psychology, making those expectations self-fulfilling. If workers anticipate a robust inflation rate in a year&#39;s time, they could seek higher wages now.</p><p>&#34;The one thing we really cannot do is fail to restore price stability,&#34; Mr. Powell said Thursday. &#34;The economy doesn&#39;t work for anyone unless you do that.&#34;</p><p>Last fall, some progressive Democrats heavily lobbied Mr. Biden to replace Mr. Powell with someone who would adhere to his easy-money postpandemic stimulus policies while taking a tougher approach to financial regulation, particularly by using bank supervision tools to shape climate change policy.</p><p>White House advisers saw Mr. Powell as someone who could more easily secure Senate confirmation. They further credited him with providing a steady hand during the pandemic and an earlier interval in which he deflected attacks from Mr. Trump, who wanted more Fed stimulus before the pandemic.</p><p>Mr. Powell&#39;s nomination was paired with the promotion of Fed governor Lael Brainard to serve as vice chairwoman. The Senate confirmed her to that position on April 26.</p><p>Mr. Biden has been able to further put his stamp on the central bank with the confirmation earlier this week of two other economists to fill vacancies on the Fed&#39;s Washington-based board of governors -- Lisa Cook of Michigan State University and Philip Jefferson of Davidson College.</p><p>With Mr. Powell&#39;s confirmation, Mr. Biden will have named four of six Fed governors to their current positions. Some analysts have speculated the new nominees might favor less-aggressive rate increases, but they are unlikely to slow the Fed from pursuing a faster pace of tightening so long as inflation remains well above the Fed&#39;s 2% target.</p><p>The president also nominated Michael Barr, a law professor at the University of Michigan, to serve as the Fed&#39;s vice chairman of bank supervision and fill a final vacancy on the seven-person board. His confirmation hearing is set for May 19.</p><p>Mr. Powell&#39;s first four-year term as chairman expired in early February and he has been serving in an acting capacity as &#34;chair pro tempore&#34; since then. The confirmation process for the Fed nominations stalled in February when Democrats refused to move Mr. Biden&#39;s picks individually and Republicans refused to vote on his initial selection for vice chairwoman of bank supervision, Sarah Bloom Raskin, who withdrew from consideration in March.</p><p>The political support that Mr. Powell cultivated proved valuable throughout his first term. He navigated a policy U-turn from raising rates to cutting them in 2019 while Mr. Trump threatened to fire the Fed leader for not providing easier monetary policy. Mr. Powell made clear in private that there were no circumstances, short of his death, under which he would voluntarily be forced from his job.</p><p>Later, he orchestrated one of the boldest economic policy responses since World War II, acting in concert with Congress and the U.S. Treasury. The Fed slashed interest rates to zero and then purchased trillions of dollars of government debt and offered to buy trillions more in loans and other assets to backstop credit markets.</p><p>At a congressional hearing in early March, Sen. John Kennedy (R., La.) lauded Mr. Powell&#39;s fast action when the pandemic hit in March 2020. &#34;Government shut down the private sector.... Markets are panicking. Everybody&#39;s looking at you to calm things down,&#34; he said. &#34;You did.&#34;</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2235184020","content_text":"The Senate confirmed Federal Reserve Chairman Jerome Powell to a second four-year term that is shaping up to be every bit as trying as his first term as the central bank faces the highest inflation in 40 years.Mr. Powell's nomination, approved Thursday on an 80-19 bipartisan vote, has been on track for months to win bipartisan approval despite unease over inflation and aggressive interest-rate increases that the Fed has urgently commenced to cool price pressures.Separately, Mr. Powell said Thursday the Fed was prepared to act aggressively to bring down inflation to its 2% goal even if it created a short-term hit to the economy, his most explicit acknowledgment of the risks posed by a sequence of rapid rate rises.\"The process of getting inflation down to 2% will also include some pain, but ultimately, the most painful thing would be if we were to fail to deal with it,\" he said on the Marketplace radio program. \"Ultimately, we'd have to go through a much deeper downturn.\"President Biden said last fall he would reappoint Mr. Powell, opting for continuity as the scale of the central bank's challenges in controlling inflation was becoming more evident. Mr. Powell, 69 years old, was tapped by President Donald Trump in 2018 to lead the central bank, six years after he won an appointment from President Barack Obama to its board of governors.Mr. Powell, a former private-equity executive, was supported by lawmakers in both parties in an unusual show of broad political support for the central bank leader, who navigated the Fed's rapid response to a pandemic-driven economic emergency in 2020. \"Chair Powell is respected on both sides of the aisle for his steady leadership during the pandemic, \" Sen. Mark Warner (D., Va.) said.Six members who caucus with the Democrats and 13 Republicans voted against him.Some lawmakers voting against him cited his handling of Fed policy as inflation rose. \"Powell and the rest of the Fed have failed the American people. We should not reward failure,\" Sen. Richard Shelby (R., Ala.) said in a statement.Mr. Powell's description of price increases last year as temporary and decisions to initially withdraw stimulus slowly -- particularly after the Biden administration approved a $1.9 trillion spending bill -- has drawn criticism from economists on both sides of the aisle.\"As part of restoring its credibility, the Fed needs to engage in some kind of after-action report that tries to analyze why they...were as wrong as they were in assessing the inflation risk and judging inflation to be transitory during 2021,\" former Treasury Secretary Lawrence Summers said in an interview last week.Since the end of last year, Mr. Powell has pivoted the Fed toward rapidly removing stimulus. The Fed has raised interest rates twice this year, most recently last week by a half percentage point -- the first such increase since 2000 -- to a range between 0.75% and 1%. Mr. Powell signaled further half-point increases are likely until the central bank is confident that inflation is set to slow.\"If you had perfect hindsight...it probably would have been better for us to have raised rates sooner,\" Mr. Powell said in the radio interview on Thursday. \"We have to make decisions in real-time, based on what we know then.\"Mr. Powell repeated his view that further half-point increases are likely until the central bank is confident that inflation is set to slow, but he said the Fed could consider larger rate rises if economic data call for such steps. Many investors took a comment he made last week to suggest that the Fed had ruled out raising rates by 0.75 percentage point.Such a policy path makes it more likely that officials lift rates high enough to cause a recession. That is a different scenario from the more optimistic one sketched out in officials' March policy projections, a so-called soft landing in which inflation falls but unemployment stays low and the economy keeps growing.The war in Ukraine has complicated the Fed's ability to achieve a soft landing because wars are often inflationary and the West's sanctioning of Russia threatens to further aggravate commodity price increases and global supply-chain disruptions.Consumer prices rose 6.6% in March from a year before, as measured by the Fed's preferred gauge, the Commerce Department's personal-consumption expenditures price index.Meanwhile, the unemployment rate in April stood at 3.6%, near a half-century low.\"The history is that every time we've had inflation above 4% and unemployment below 4%, we've had a recession in the next two years,\" said Mr. Summers. \"It's definitely odds off that we will have a soft landing.\"Several times on Thursday, Mr. Powell said he was realistic about the challenges of raising rates to cool demand and bring down inflation without higher unemployment. \"It will be challenging. It won't be easy. No one here thinks that it will be easy,\" he said.One concern is that the surge in prices becomes intense enough or lasts long enough to change consumers' and businesses' inflation psychology, making those expectations self-fulfilling. If workers anticipate a robust inflation rate in a year's time, they could seek higher wages now.\"The one thing we really cannot do is fail to restore price stability,\" Mr. Powell said Thursday. \"The economy doesn't work for anyone unless you do that.\"Last fall, some progressive Democrats heavily lobbied Mr. Biden to replace Mr. Powell with someone who would adhere to his easy-money postpandemic stimulus policies while taking a tougher approach to financial regulation, particularly by using bank supervision tools to shape climate change policy.White House advisers saw Mr. Powell as someone who could more easily secure Senate confirmation. They further credited him with providing a steady hand during the pandemic and an earlier interval in which he deflected attacks from Mr. Trump, who wanted more Fed stimulus before the pandemic.Mr. Powell's nomination was paired with the promotion of Fed governor Lael Brainard to serve as vice chairwoman. The Senate confirmed her to that position on April 26.Mr. Biden has been able to further put his stamp on the central bank with the confirmation earlier this week of two other economists to fill vacancies on the Fed's Washington-based board of governors -- Lisa Cook of Michigan State University and Philip Jefferson of Davidson College.With Mr. Powell's confirmation, Mr. Biden will have named four of six Fed governors to their current positions. Some analysts have speculated the new nominees might favor less-aggressive rate increases, but they are unlikely to slow the Fed from pursuing a faster pace of tightening so long as inflation remains well above the Fed's 2% target.The president also nominated Michael Barr, a law professor at the University of Michigan, to serve as the Fed's vice chairman of bank supervision and fill a final vacancy on the seven-person board. His confirmation hearing is set for May 19.Mr. Powell's first four-year term as chairman expired in early February and he has been serving in an acting capacity as \"chair pro tempore\" since then. The confirmation process for the Fed nominations stalled in February when Democrats refused to move Mr. Biden's picks individually and Republicans refused to vote on his initial selection for vice chairwoman of bank supervision, Sarah Bloom Raskin, who withdrew from consideration in March.The political support that Mr. Powell cultivated proved valuable throughout his first term. He navigated a policy U-turn from raising rates to cutting them in 2019 while Mr. Trump threatened to fire the Fed leader for not providing easier monetary policy. Mr. Powell made clear in private that there were no circumstances, short of his death, under which he would voluntarily be forced from his job.Later, he orchestrated one of the boldest economic policy responses since World War II, acting in concert with Congress and the U.S. Treasury. The Fed slashed interest rates to zero and then purchased trillions of dollars of government debt and offered to buy trillions more in loans and other assets to backstop credit markets.At a congressional hearing in early March, Sen. John Kennedy (R., La.) lauded Mr. Powell's fast action when the pandemic hit in March 2020. \"Government shut down the private sector.... Markets are panicking. Everybody's looking at you to calm things down,\" he said. \"You did.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":63,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9058675695,"gmtCreate":1654836349217,"gmtModify":1676535520444,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9058675695","repostId":"2242334034","repostType":2,"repost":{"id":"2242334034","kind":"highlight","pubTimestamp":1654832716,"share":"https://ttm.financial/m/news/2242334034?lang=&edition=fundamental","pubTime":"2022-06-10 11:45","market":"us","language":"en","title":"3 Buffett-Like Stocks to Buy on the Dip","url":"https://stock-news.laohu8.com/highlight/detail?id=2242334034","media":"Motley Fool","summary":"The billionaire investor would likely approve of these investments.","content":"<html><head></head><body><p>If you want to invest like Warren Buffett and be successful, then you need to pay close attention to a stock&#39;s fundamentals and its valuation. Stocks that generate strong profit margins, pay dividends, and trade at modest multiples are all Buffett-type investments that could make for solid, long-term buys.</p><p><b>HCA Healthcare </b>(HCA -0.53%), <b>United Parcel Service </b>(UPS -0.29%), and <b>Goldman Sachs </b>(GS -1.91%) are all investments that fit these criteria. Here&#39;s a closer look at all three of them and why they are great buys for value investors.</p><p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F683604%2Fa-couple-smiling-and-talking-with-an-advisor.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Image source: Getty Images.</p><h2>1. HCA Healthcare</h2><p>HCA Healthcare operates more than 180 hospitals and roughly 2,300 other care sites, including surgery centers, in the U.S. and U.K. Shares of the healthcare stock are down around 20% this year, performing worse than the <b>S&amp;P 500</b> and its 13% decline over the same period.</p><p>The catalyst behind the sell-off was the release of the company&#39;s latest earnings report in April, which sent the stock tumbling. HCA reduced its guidance for 2022, which included reducing its revenue forecast by $500 million. For the year, it expects diluted per-share earnings to be between $16.40 and $17.60 (vs. a previous forecast range of $18.40 to $19.20). The company&#39;s profits will come in around $5 billion, which will be more than 8% of revenue.</p><p>Those are still strong numbers for the business. And HCA&#39;s dividend, which pays $2.24 per share annually, is in no danger at all -- even with the trimmed forecast. The stock&#39;s yield of 1.1% is below the S&amp;P 500 average of 1.4%, but there&#39;s definitely room for it to grow. The company increased its dividend payments by 17% earlier this year, up from the $0.48 quarterly payment it was making in 2021.</p><p>Trading at a price-to-earnings (P/E) ratio of less than 10, HCA is definitely an attractive option for value-oriented investors like Buffett.</p><h2>2. United Parcel Service</h2><p>Buffett&#39;s <b>Berkshire Hathaway </b>holds UPS in its portfolio today, but it&#39;s <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the company&#39;s smallest investments. I&#39;d argue it warrants more of a position there. Buffett, after all, has long been a proponent of betting on America and the long-term success of the economy. A great way to do that is to bet on the success of a quick and efficient logistics company like UPS.</p><p>Shares of UPS haven&#39;t crashed this year, they&#39;ve merely gone along with the downward ride of the markets. The stock&#39;s 13% decline is in line with how the S&amp;P 500 has performed thus far. But it should be doing better than that due to its resiliency. In the first three months of the year, the company&#39;s sales remained strong at $24.4 billion and rose 6.4% year over year. UPS reported net income of $2.7 billion, which was 11% of revenue and remained impressive. Last year, it averaged a profit margin of 13%.</p><p>UPS trades at a P/E ratio of around 15, which is cheap when you consider the S&amp;P 500 index averages an earnings multiple of nearly 22. The low valuation and UPS&#39;s dividend yield of 3.3% makes this a fantastic stock to load up on today. Earlier this year, the company hiked its dividend by a whopping 49% in light of its strong results.</p><h2>3. Goldman Sachs</h2><p>Top investment bank Goldman Sachs was one of Buffett&#39;s holdings as recently as 2020, before Berkshire sold its stake in the business. Goldman&#39;s business is not in bad shape, and it has actually achieved incredible growth of late. In 2021, its net revenue of $59 billion marked a year-over-year increase of 33%. Net earnings of $21.6 billion were even more impressive, more than doubling in value as the company kept its costs contained while benefiting from a surge in investment banking revenue.</p><p>Through the first three months of 2022, the business remains strong with profits of nearly $4 billion accounting for more than 30% of its net revenue. Goldman&#39;s diluted per-share earnings of $10.76 for just the first quarter would be enough to pay for its dividend, which over the course of four quarters totals just $8 per share. While the bank has room for more increases, at 2.5%, the dividend yield already provides lots of potential recurring income for investors. Last year, Goldman hiked its quarterly dividend from $1.25 to $2.</p><p>Shares of the stock are down 17% this year and it looks like a great deal, trading at a P/E of 6 and right around its book value.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Buffett-Like Stocks to Buy on the Dip</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Buffett-Like Stocks to Buy on the Dip\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-10 11:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/06/09/3-buffett-like-stocks-to-buy-on-the-dip/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you want to invest like Warren Buffett and be successful, then you need to pay close attention to a stock's fundamentals and its valuation. Stocks that generate strong profit margins, pay dividends...</p>\n\n<a href=\"https://www.fool.com/investing/2022/06/09/3-buffett-like-stocks-to-buy-on-the-dip/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"161125":"标普500","513500":"标普500ETF","BK4552":"Archegos爆仓风波概念",".SPX":"S&P 500 Index","OEX":"标普100","SPY":"标普500ETF","GS":"高盛","OEF":"标普100指数ETF-iShares","SDS":"两倍做空标普500ETF","BK4581":"高盛持仓","BK4504":"桥水持仓","IVV":"标普500指数ETF","BK4127":"投资银行业与经纪业","BK4176":"多领域控股","BRK.B":"伯克希尔B","BRK.A":"伯克希尔","SH":"标普500反向ETF","BK4534":"瑞士信贷持仓","BK4533":"AQR资本管理(全球第二大对冲基金)","UPRO":"三倍做多标普500ETF","SSO":"两倍做多标普500ETF","BK4559":"巴菲特持仓","SPXU":"三倍做空标普500ETF","BK4550":"红杉资本持仓"},"source_url":"https://www.fool.com/investing/2022/06/09/3-buffett-like-stocks-to-buy-on-the-dip/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2242334034","content_text":"If you want to invest like Warren Buffett and be successful, then you need to pay close attention to a stock's fundamentals and its valuation. Stocks that generate strong profit margins, pay dividends, and trade at modest multiples are all Buffett-type investments that could make for solid, long-term buys.HCA Healthcare (HCA -0.53%), United Parcel Service (UPS -0.29%), and Goldman Sachs (GS -1.91%) are all investments that fit these criteria. Here's a closer look at all three of them and why they are great buys for value investors.Image source: Getty Images.1. HCA HealthcareHCA Healthcare operates more than 180 hospitals and roughly 2,300 other care sites, including surgery centers, in the U.S. and U.K. Shares of the healthcare stock are down around 20% this year, performing worse than the S&P 500 and its 13% decline over the same period.The catalyst behind the sell-off was the release of the company's latest earnings report in April, which sent the stock tumbling. HCA reduced its guidance for 2022, which included reducing its revenue forecast by $500 million. For the year, it expects diluted per-share earnings to be between $16.40 and $17.60 (vs. a previous forecast range of $18.40 to $19.20). The company's profits will come in around $5 billion, which will be more than 8% of revenue.Those are still strong numbers for the business. And HCA's dividend, which pays $2.24 per share annually, is in no danger at all -- even with the trimmed forecast. The stock's yield of 1.1% is below the S&P 500 average of 1.4%, but there's definitely room for it to grow. The company increased its dividend payments by 17% earlier this year, up from the $0.48 quarterly payment it was making in 2021.Trading at a price-to-earnings (P/E) ratio of less than 10, HCA is definitely an attractive option for value-oriented investors like Buffett.2. United Parcel ServiceBuffett's Berkshire Hathaway holds UPS in its portfolio today, but it's one of the company's smallest investments. I'd argue it warrants more of a position there. Buffett, after all, has long been a proponent of betting on America and the long-term success of the economy. A great way to do that is to bet on the success of a quick and efficient logistics company like UPS.Shares of UPS haven't crashed this year, they've merely gone along with the downward ride of the markets. The stock's 13% decline is in line with how the S&P 500 has performed thus far. But it should be doing better than that due to its resiliency. In the first three months of the year, the company's sales remained strong at $24.4 billion and rose 6.4% year over year. UPS reported net income of $2.7 billion, which was 11% of revenue and remained impressive. Last year, it averaged a profit margin of 13%.UPS trades at a P/E ratio of around 15, which is cheap when you consider the S&P 500 index averages an earnings multiple of nearly 22. The low valuation and UPS's dividend yield of 3.3% makes this a fantastic stock to load up on today. Earlier this year, the company hiked its dividend by a whopping 49% in light of its strong results.3. Goldman SachsTop investment bank Goldman Sachs was one of Buffett's holdings as recently as 2020, before Berkshire sold its stake in the business. Goldman's business is not in bad shape, and it has actually achieved incredible growth of late. In 2021, its net revenue of $59 billion marked a year-over-year increase of 33%. Net earnings of $21.6 billion were even more impressive, more than doubling in value as the company kept its costs contained while benefiting from a surge in investment banking revenue.Through the first three months of 2022, the business remains strong with profits of nearly $4 billion accounting for more than 30% of its net revenue. Goldman's diluted per-share earnings of $10.76 for just the first quarter would be enough to pay for its dividend, which over the course of four quarters totals just $8 per share. While the bank has room for more increases, at 2.5%, the dividend yield already provides lots of potential recurring income for investors. Last year, Goldman hiked its quarterly dividend from $1.25 to $2.Shares of the stock are down 17% this year and it looks like a great deal, trading at a P/E of 6 and right around its book value.","news_type":1},"isVote":1,"tweetType":1,"viewCount":5,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9059738222,"gmtCreate":1654428506666,"gmtModify":1676535446317,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9059738222","repostId":"1133091781","repostType":4,"isVote":1,"tweetType":1,"viewCount":23,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9027008365,"gmtCreate":1653950744057,"gmtModify":1676535365185,"author":{"id":"4103845292937490","authorId":"4103845292937490","name":"TF105","avatar":"https://community-static.tradeup.com/news/970ff314f46a910a166b2a93d12f115a","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4103845292937490","authorIdStr":"4103845292937490"},"themes":[],"htmlText":"Ermm","listText":"Ermm","text":"Ermm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9027008365","repostId":"2239151510","repostType":4,"repost":{"id":"2239151510","kind":"highlight","pubTimestamp":1653921418,"share":"https://ttm.financial/m/news/2239151510?lang=&edition=fundamental","pubTime":"2022-05-30 22:36","market":"us","language":"en","title":"3 Stocks to Avoid This Week: GameStop, ChargePoint and Conn's","url":"https://stock-news.laohu8.com/highlight/detail?id=2239151510","media":"Motley Fool","summary":"These investments seem pretty vulnerable right now.","content":"<html><head></head><body><p>My &#34;three stocks to avoid&#34; column last week didn&#39;t pan out. All three investments I figured would be in for a rough few trading days moved sharply higher. The three names I thought were going to move lower for the week -- <b>Alibaba</b>, <b>Tesla</b>, and <b>Nordstrom</b> -- finished up 8%, 14%, and 25%, respectively, averaging out to a 15.7% gain. Ouch!</p><p>The <b>S&amp;P 500</b> soared 6.6% for the week, but naturally the stocks I figured would fare worse did not. I was wrong, but I have still been right in 22 of the past 32 weeks.</p><p>I see <b>GameStop</b> (GME 6.81%), <b>ChargePoint</b> (CHPT 13.89%), and <b>Conn&#39;s</b> (CONN -1.53%) as stocks you may want to consider steering clear of this week. Let&#39;s go over my near-term concerns with all three investments.</p><p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F682427%2Fgettycrash.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"459\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"/></p><p>Image source: Getty Images.</p><h2>GameStop</h2><p>The original meme stock is rolling again. Shares of the video game retailer soared 54% -- yes, 54% -- in the last three trading days. What can possibly get in the way of a meme stock mowing down its short sellers? Earnings season. GameStop shares have declined the trading day after reporting earnings in 11 of the past 14 quarters. Some of the slides have been fairly substantial, even last year when GameStop was off to the races. The retailer will peel back the curtain on its fiscal first quarter results on Wednesday afternoon.</p><p>GameStop&#39;s performance when it has fresh financials to put out has been sobering. It has posted a larger-than-expected loss for three consecutive quarters. The $1.32 billion analysts are forecasting in revenue is a small year-over-year increase, but 15% below its top-line results three years ago in its last pre-pandemic fiscal first quarter. More importantly, the stock was in the single digits at the time.</p><p>GameStop is making some interesting moves in NFTs and crypto, but those markets have also been hit hard in recent months. GameStop is going to need a strong report to justify last week&#39;s gains. History tells us that you probably don&#39;t want to bet on that.</p><h2>ChargePoint</h2><p>There&#39;s no doubt that the electric-vehicle market will have years of explosive growth, but it&#39;s probably too early to bet on the growing number of companies that are providing charging stations. It could be a race to the bottom, and players building out their networks now may never turn a profit. Analysts don&#39;t see ChargePoint in the black until 2026, and by then the market will probably be far more cutthroat than it is now.</p><p>ChargePoint reports fresh financials after Tuesday&#39;s market close. Momentum hasn&#39;t been kind. It has posted larger losses than analysts were targeting in back-to-back quarters. Wall Street pros have been widening their expected deficits for the quarter it will discuss on Tuesday as well as the current fiscal year.</p><h2>Conn&#39;s</h2><p>Let&#39;s close out the list with yet <i>another</i> name reporting quarterly results this week. Wednesday morning is when Conn&#39;s steps up to the plate. The big-box retailer that sells furniture, appliances, and consumer electronics could be in for a rough financial update. We&#39;ve already seen a few retailers warn that guests have been shifting their spending away form big-ticket home items. Conn&#39;s also had the problematic distinction of missing Wall Street estimates on both ends of its income statement last time out.</p><p>The stock tumbled 26% in the four trading days following its last report. Is there any reason to expect that Conn&#39;s will fare any better in a climate that has grown even more challenging? It could be a tough week for the retailer.</p><p>It&#39;s going to be a bumpy road for some of these investments. If you&#39;re looking for safe stocks, you aren&#39;t likely to find them in GameStop, ChargePoint, or Conn&#39;s this week.</p></body></html>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks to Avoid This Week: GameStop, ChargePoint and Conn's</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks to Avoid This Week: GameStop, ChargePoint and Conn's\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-30 22:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/05/30/3-stocks-to-avoid-this-week/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>My \"three stocks to avoid\" column last week didn't pan out. All three investments I figured would be in for a rough few trading days moved sharply higher. The three names I thought were going to move ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/05/30/3-stocks-to-avoid-this-week/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CHPT":"ChargePoint Holdings Inc.","GME":"游戏驿站","CONN":"科恩"},"source_url":"https://www.fool.com/investing/2022/05/30/3-stocks-to-avoid-this-week/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2239151510","content_text":"My \"three stocks to avoid\" column last week didn't pan out. All three investments I figured would be in for a rough few trading days moved sharply higher. The three names I thought were going to move lower for the week -- Alibaba, Tesla, and Nordstrom -- finished up 8%, 14%, and 25%, respectively, averaging out to a 15.7% gain. Ouch!The S&P 500 soared 6.6% for the week, but naturally the stocks I figured would fare worse did not. I was wrong, but I have still been right in 22 of the past 32 weeks.I see GameStop (GME 6.81%), ChargePoint (CHPT 13.89%), and Conn's (CONN -1.53%) as stocks you may want to consider steering clear of this week. Let's go over my near-term concerns with all three investments.Image source: Getty Images.GameStopThe original meme stock is rolling again. Shares of the video game retailer soared 54% -- yes, 54% -- in the last three trading days. What can possibly get in the way of a meme stock mowing down its short sellers? Earnings season. GameStop shares have declined the trading day after reporting earnings in 11 of the past 14 quarters. Some of the slides have been fairly substantial, even last year when GameStop was off to the races. The retailer will peel back the curtain on its fiscal first quarter results on Wednesday afternoon.GameStop's performance when it has fresh financials to put out has been sobering. It has posted a larger-than-expected loss for three consecutive quarters. The $1.32 billion analysts are forecasting in revenue is a small year-over-year increase, but 15% below its top-line results three years ago in its last pre-pandemic fiscal first quarter. More importantly, the stock was in the single digits at the time.GameStop is making some interesting moves in NFTs and crypto, but those markets have also been hit hard in recent months. GameStop is going to need a strong report to justify last week's gains. History tells us that you probably don't want to bet on that.ChargePointThere's no doubt that the electric-vehicle market will have years of explosive growth, but it's probably too early to bet on the growing number of companies that are providing charging stations. It could be a race to the bottom, and players building out their networks now may never turn a profit. Analysts don't see ChargePoint in the black until 2026, and by then the market will probably be far more cutthroat than it is now.ChargePoint reports fresh financials after Tuesday's market close. Momentum hasn't been kind. It has posted larger losses than analysts were targeting in back-to-back quarters. Wall Street pros have been widening their expected deficits for the quarter it will discuss on Tuesday as well as the current fiscal year.Conn'sLet's close out the list with yet another name reporting quarterly results this week. Wednesday morning is when Conn's steps up to the plate. The big-box retailer that sells furniture, appliances, and consumer electronics could be in for a rough financial update. We've already seen a few retailers warn that guests have been shifting their spending away form big-ticket home items. Conn's also had the problematic distinction of missing Wall Street estimates on both ends of its income statement last time out.The stock tumbled 26% in the four trading days following its last report. Is there any reason to expect that Conn's will fare any better in a climate that has grown even more challenging? It could be a tough week for the retailer.It's going to be a bumpy road for some of these investments. If you're looking for safe stocks, you aren't likely to find them in GameStop, ChargePoint, or Conn's this week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}