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Halo Money
2022-12-12
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2022-11-30
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Halo Money
2022-11-24
Fear of China??
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Halo Money
2022-11-24
Tks for sharing
Can a New CEO Save Disney Stock?
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2022-11-23
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Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4131536026629192","authorIdStr":"4131536026629192"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9962280016","repostId":"2287859746","repostType":4,"isVote":1,"tweetType":1,"viewCount":387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968546725,"gmtCreate":1669265448968,"gmtModify":1676538176604,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4131536026629192","authorIdStr":"4131536026629192"},"themes":[],"htmlText":"Fear of China??","listText":"Fear of China??","text":"Fear of China??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968546725","repostId":"1158455916","repostType":4,"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968546527,"gmtCreate":1669265404070,"gmtModify":1676538176597,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4131536026629192","authorIdStr":"4131536026629192"},"themes":[],"htmlText":"Tks for sharing","listText":"Tks for sharing","text":"Tks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968546527","repostId":"2285419168","repostType":4,"repost":{"id":"2285419168","pubTimestamp":1669249719,"share":"https://ttm.financial/m/news/2285419168?lang=&edition=fundamental","pubTime":"2022-11-24 08:28","market":"us","language":"en","title":"Can a New CEO Save Disney Stock?","url":"https://stock-news.laohu8.com/highlight/detail?id=2285419168","media":"Motley Fool","summary":"The company is raising prices and trying to slash costs.","content":"<html><head></head><body><p>In the newest chapter of <b>Walt Disney</b>'s wild pandemic saga, the company announced on Sunday that former CEO Bob Iger was retaking the reins from ousted company leader Bob Chapek. Iger left his position as executive chairman just 11 months ago, but he's been called back by the board amid mounting streaming losses and a tanking stock price.</p><p>Part of the problem is an unclear direction for how to steer the company. The parks segment has been a major growth generator over the past few quarters, but underlying what looks like a strong business are multiple premium services and price hikes that aren't sustainable. At the same time, streaming is costing more and more to operate, and Disney's raising the price on that, too.</p><p>Does Disney have a pricing problem? And can Iger fix it and get the company back on track?</p><h2>Are parks really on fire?</h2><p>Yes, parks really are on fire. People are coming back and paying up. The parks and experiences segment increased its sales 36% over last year in the fourth quarter (ended Oct. 1) to $7.4 billion, and segment operating income increased more than 100% to $1.5 billion. Chapek said that parks are "generating consistently strong demand, which, on many days, exceeds our current capacity."</p><p>Part of the revenue increase came from a Disney pass price increase in February. That's OK; supply and demand laws mean prices will rise when there's strong demand. With demand still strong, Disney is raising prices again in December. The increase covers several types of tickets as well as premium services like Genie+, which allows holders to skip lines. However, it can't raise prices twice every year. And after the pent-up demand from the pandemic dies down, visitors may be less inclined to pay the steep prices.</p><h2>Can streaming cut its losses?</h2><p>Investors have been focusing on the widening losses at Disney+. But let's take a look at some of the positives here. Disney added 57 million new subscriptions to all of its streaming networks in fiscal 2022 (ended Oct. 1). That's a huge number, and it indicates that Disney is dominating this field. It also illustrates how well Disney can perform in new businesses where it really shines. It has an unstoppable creative team and its position as the leading world entertainment company is, at least for the foreseeable future, effectively unbeatable.</p><p>That lends itself to almost guaranteed future performance. However, as the market has seen time and time again, even this type of growth and dominance isn't sustainable without shifting focus to the bottom line.</p><p>Disney is no start-up, and it's well aware that its priorities need some assessment. It has provided profitability guidance for Disney+ almost since inception, and it's been reassuring investors that it still intends to meet its goals of profitability by 2024. There are two paths to take: cut costs and raise prices, and the company is doing both. However, by taking this approach, it's likely to see its subscriber growth slow down.</p><p>In the meantime, the $1.5 billion operating loss from streaming effectively wiped out the same amount of operating income from parks.</p><h2>Can Iger steer Disney back to stardom?</h2><p>Disney looks like it's in a bit of a pickle. However, Iger laid the foundation for streaming before he left the CEO role in 2020 and is acutely acquainted with its inner workings. Iger served as CEO for 15 years on top of a long career at Disney, and the board sees his return as a way to put Disney on a path to getting the most out of streaming while streamlining all of its businesses to work together profitably.</p><p>There don't seem to be easy answers right now, and in this kind of economy, investors shouldn't expect a rapid turnaround.</p><p>There are two pieces of good news, however. One is that Disney is still well-positioned to maintain its leadership role in the long term, and Iger, who has signed on for a two-year stint, certainly has the capabilities to get it back to speed before handing the reins onto the next CEO. The second is that down 41% this year, Disney shares are beginning to look like more of a bargain, with a forward one-year price-to-earnings ratio of 22.</p><p>However, with the current volatility, investors may want to stay on the sidelines and watch what's happening at Disney for the time being.</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>Can a New CEO Save Disney Stock?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCan a New CEO Save Disney Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-24 08:28 GMT+8 <a href=https://www.fool.com/investing/2022/11/23/does-disney-have-a-pricing-problem/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In the newest chapter of Walt Disney's wild pandemic saga, the company announced on Sunday that former CEO Bob Iger was retaking the reins from ousted company leader Bob Chapek. Iger left his position...</p>\n\n<a href=\"https://www.fool.com/investing/2022/11/23/does-disney-have-a-pricing-problem/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼"},"source_url":"https://www.fool.com/investing/2022/11/23/does-disney-have-a-pricing-problem/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2285419168","content_text":"In the newest chapter of Walt Disney's wild pandemic saga, the company announced on Sunday that former CEO Bob Iger was retaking the reins from ousted company leader Bob Chapek. Iger left his position as executive chairman just 11 months ago, but he's been called back by the board amid mounting streaming losses and a tanking stock price.Part of the problem is an unclear direction for how to steer the company. The parks segment has been a major growth generator over the past few quarters, but underlying what looks like a strong business are multiple premium services and price hikes that aren't sustainable. At the same time, streaming is costing more and more to operate, and Disney's raising the price on that, too.Does Disney have a pricing problem? And can Iger fix it and get the company back on track?Are parks really on fire?Yes, parks really are on fire. People are coming back and paying up. The parks and experiences segment increased its sales 36% over last year in the fourth quarter (ended Oct. 1) to $7.4 billion, and segment operating income increased more than 100% to $1.5 billion. Chapek said that parks are \"generating consistently strong demand, which, on many days, exceeds our current capacity.\"Part of the revenue increase came from a Disney pass price increase in February. That's OK; supply and demand laws mean prices will rise when there's strong demand. With demand still strong, Disney is raising prices again in December. The increase covers several types of tickets as well as premium services like Genie+, which allows holders to skip lines. However, it can't raise prices twice every year. And after the pent-up demand from the pandemic dies down, visitors may be less inclined to pay the steep prices.Can streaming cut its losses?Investors have been focusing on the widening losses at Disney+. But let's take a look at some of the positives here. Disney added 57 million new subscriptions to all of its streaming networks in fiscal 2022 (ended Oct. 1). That's a huge number, and it indicates that Disney is dominating this field. It also illustrates how well Disney can perform in new businesses where it really shines. It has an unstoppable creative team and its position as the leading world entertainment company is, at least for the foreseeable future, effectively unbeatable.That lends itself to almost guaranteed future performance. However, as the market has seen time and time again, even this type of growth and dominance isn't sustainable without shifting focus to the bottom line.Disney is no start-up, and it's well aware that its priorities need some assessment. It has provided profitability guidance for Disney+ almost since inception, and it's been reassuring investors that it still intends to meet its goals of profitability by 2024. There are two paths to take: cut costs and raise prices, and the company is doing both. However, by taking this approach, it's likely to see its subscriber growth slow down.In the meantime, the $1.5 billion operating loss from streaming effectively wiped out the same amount of operating income from parks.Can Iger steer Disney back to stardom?Disney looks like it's in a bit of a pickle. However, Iger laid the foundation for streaming before he left the CEO role in 2020 and is acutely acquainted with its inner workings. Iger served as CEO for 15 years on top of a long career at Disney, and the board sees his return as a way to put Disney on a path to getting the most out of streaming while streamlining all of its businesses to work together profitably.There don't seem to be easy answers right now, and in this kind of economy, investors shouldn't expect a rapid turnaround.There are two pieces of good news, however. One is that Disney is still well-positioned to maintain its leadership role in the long term, and Iger, who has signed on for a two-year stint, certainly has the capabilities to get it back to speed before handing the reins onto the next CEO. The second is that down 41% this year, Disney shares are beginning to look like more of a bargain, with a forward one-year price-to-earnings ratio of 22.However, with the current volatility, investors may want to stay on the sidelines and watch what's happening at Disney for the time being.","news_type":1},"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968898272,"gmtCreate":1669169722996,"gmtModify":1676538161841,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4131536026629192","authorIdStr":"4131536026629192"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968898272","repostId":"1131111007","repostType":2,"isVote":1,"tweetType":1,"viewCount":290,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9962280016,"gmtCreate":1669781909835,"gmtModify":1676538242375,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4131536026629192","idStr":"4131536026629192"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/9962280016","repostId":"2287859746","repostType":4,"repost":{"id":"2287859746","pubTimestamp":1669768217,"share":"https://ttm.financial/m/news/2287859746?lang=&edition=fundamental","pubTime":"2022-11-30 08:30","market":"us","language":"en","title":"\"Who Can Turn off the Websites?\": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX","url":"https://stock-news.laohu8.com/highlight/detail?id=2287859746","media":"The Sydney Morning Herald","summary":"When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam","content":"<html><head></head><body><p>When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam Bankman-Fried, announced the news in a contrite message on Twitter.</p><p>But his attempt to calm the situation belied what had just taken place within the company. As the crisis unfolded, a group of FTX lawyers and executives moved to strip authority from Bankman-Fried and urged the company’s top leaders to prepare for bankruptcy. For days, Bankman-Fried ignored their warnings and clung to power, seemingly convinced that he could save the firm, despite mounting evidence to the contrary.</p><p><img src=\"https://static.tigerbbs.com/7817164bdd32445ac4f1e4197abf2ee9\" tg-width=\"584\" tg-height=\"389\" referrerpolicy=\"no-referrer\"/></p><p>Before his empire fell, FTX founder Sam Bankman-Fried had agreed to several deals that are now in limbo, including the purchase of Voyager.Credit:Bloomberg</p><p>“The exchanges must be halted immediately,” Ryne Miller, a top FTX lawyer, wrote in an email to Bankman-Fried and other staff November 10. “The founding team is not currently in a cooperative posture.”</p><p>Bankman-Fried eventually relented, stepping down as FTX’s chief executive and authorising the company to file for bankruptcy. Dozens of pages of internal company emails and texts obtained by <i>The New York Times</i> offer a detailed look at those chaotic final days, as messages flew back and forth among FTX officials who seemed to be growing increasingly irritated with the 30-year-old founder.</p><p>Throughout, Bankman-Fried appeared deluded about FTX’s prospects, insisting that he could find a way to keep the company running, the documents show. A day before the bankruptcy filing, he told employees that he was trying to raise new funding, and as recently as last week he said he regretted authorising the bankruptcy.</p><p>The messages reviewed by <i>The Times</i> and interviews with insiders show how a small group of lawyers and executives struggled to get through to Bankman-Fried, even appealing to his father as they pressed their case. While Bankman-Fried was scrambling to line up investors, Miller sent a text to top staff describing the prospect of a fundraise as “0% likelihood.”</p><p>The push and pull continued into the early hours of November 11, when Miller sent a series of messages urging Bankman-Fried to sign papers so the company could file for bankruptcy.</p><p>“Please can you sign the document,” he wrote at 2:29 a.m.</p><p>FTX’s implosion has set off one of the worst upheavals in the history of crypto. Until this month, Bankman-Fried was regarded as one of the few trustworthy figures in a freewheeling, loosely regulated industry. He built a business empire, invested in smaller crypto firms and lobbied aggressively in Washington.</p><p>Now his actions are devastating the industry. Hundreds of thousands of customers stored their funds on FTX, which provided a marketplace for people to buy and sell digital coins; the exchange owes its creditors an estimated $US8 billion ($12 billion). And since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure, as fears grow that the collapse could cause other companies to fail. On Monday, the crypto lender BlockFi filed for bankruptcy, citing the fallout from FTX’s disintegration.</p><p><img src=\"https://static.tigerbbs.com/32f2132b7d404efd1ddccd3bc0e6eb7d\" tg-width=\"584\" tg-height=\"389\" referrerpolicy=\"no-referrer\"/></p><p>The FTX saga has left the entire industry crypto industry rattled. Credit:Getty</p><p>The legal ramifications are only beginning to take shape. Justice Department prosecutors are investigating FTX’s downfall, focusing on whether the exchange broke the law by lending its customers’ funds to the hedge fund Alameda Research, which Bankman-Fried also founded and owned. In bankruptcy court, FTX’s new chief executive has harshly criticised Bankman-Fried’s management of the company, calling it a “complete failure of corporate control.”</p><p>Reached by phone Sunday night, Bankman-Fried declined to address the messages that top executives exchanged leading up to the bankruptcy filing. But he said that even after FTX’s collapse, he had found “numerous parties” willing to invest funds. He declined to name any of the possible investors.</p><p>Miller and an FTX spokesman declined to comment.</p><p>The crisis began November 8, when Bankman-Fried announced that a run on deposits at FTX had forced him to sell the company to one of its bitterest rivals, Binance. For about a day, the deal raised the prospect that FTX could survive as part of a giant exchange run by Binance. But after reviewing FTX’s financial records, Binance pulled out of the agreement, citing issues with “corporate due diligence.”</p><p>“Sam, I’m sorry,” Binance’s founder, Changpeng Zhao, wrote in a text message to Bankman-Fried. “But we won’t be able to continue this deal. Way too many issues. CZ.”</p><p>With FTX swiftly unravelling, Miller tried to seize control of the situation. A former lawyer for the Commodity Futures Trading Commission, Miller had served as general counsel of FTX’s U.S. arm since August 2021. While he never belonged to Bankman-Fried’s main circle of advisers in the Bahamas, where FTX was based, he had accompanied the young executive in meetings with regulators in Washington.</p><p>Early in the crisis, Caroline Ellison, the chief executive of Alameda, wrote in a group chat with Miller that she was “kinda worried that everyone is gonna quit/take time off,” adding an emoticon of a sweating face. Miller responded November 9 that FTX needed “a professional manager vested with decision-making authority.”</p><p>That afternoon, Miller asked Bankman-Fried and two other executives to shut down trading on FTX’s platforms</p><p>“Who can turn off the websites?” he asked in a group chat at 4:41 p.m.</p><p><a href=\"https://laohu8.com/S/TWOA.U\">Two</a> minutes later, he got a response from Constance Wang, FTX’s chief operating officer and one of Bankman-Fried’s top lieutenants.</p><p>“Ryne, I love you,” she wrote, “but I don’t want to stop trying yet.”</p><p>Miller and other FTX executives also urged Bankman-Fried to give up some control of his business empire. At one point, Zach Dexter, an executive who worked on FTX’s American business, asked Bankman-Fried to delegate authority over US operations to him and Miller. In an exchange on the messaging system Slack, Bankman-Fried at first appeared to dodge Dexter’s question. Instead, he responded with proposed language for a banner on FTX’s US website.</p><p><img src=\"https://static.tigerbbs.com/116265319d5567b7160bed4ca533e339\" tg-width=\"584\" tg-height=\"389\" referrerpolicy=\"no-referrer\"/></p><p>Since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure,Credit:AP</p><p>Soon other FTX officials joined in, urging Bankman-Fried to forgo some control.</p><p>But Bankman-Fried seemed convinced he could save FTX. In a message to employees November 10, he announced that he was hoping to secure new financing from crypto entrepreneur Justin Sun. FTX had “a lot theoretically in and/or potentially for the raise,” he wrote.</p><p>Behind the scenes, pressure was growing to appoint a new executive to lead the exchange. On the night of November 9, Andrew Dietderich, a lawyer at Sullivan & Cromwell, sent FTX executives the resume of John Jay Ray III, a corporate turnaround expert who had led the unwinding of Enron after the energy company’s collapse in an accounting scandal in 2001.</p><p>“Sam this is an excellent pick and I wholeheartedly hope you sign this tonight,” Dexter wrote in an email on the evening of November 10. “The faster John is in place, the faster the company can resolve issues that require urgent progress.”</p><p>A flurry of emails followed. In a message at 3:38 a.m. on November 11, Miller asked for an update on Bankman-Fried’s decision.</p><p>“I am chatting with Sam,” responded Ken Ziman, a lawyer at the firm Paul Weiss who was representing Bankman-Fried.</p><p>Ten minutes later, Ziman confirmed that Bankman-Fried had signed the document, authorising Ray to take over FTX. The company filed for bankruptcy a few hours later.</p><p>Bankman-Fried was also frustrated. Despite giving up control of FTX, he continued contacting possible investors about new funding for the exchange. In a letter to former colleagues last week, he said he regretted filing for bankruptcy, claiming that “potential interest in billions of dollars of funding came in roughly eight minutes after I signed the Chapter 11 docs.”</p><p>He presented no evidence for that claim, and in any case, FTX was no longer his company to run. On the morning of November 11, Miller moved quickly to make that clear, requesting the deletion of information about the firm’s old leadership from its website.</p><p>“Who can go to FTX.com and FTX US and remove the pictures and bios of the people under ‘about,’” he asked in a group chat with other executives.</p></body></html>","source":"smh_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>\"Who Can Turn off the Websites?\": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"Who Can Turn off the Websites?\": Inside Bankman-Fried’s Chaotic Final Days in Charge of FTX\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-30 08:30 GMT+8 <a href=https://www.smh.com.au/business/companies/who-can-turn-off-the-websites-inside-bankman-fried-s-chaotic-final-days-in-charge-of-ftx-20221130-p5c2ct.html><strong>The Sydney Morning Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam Bankman-Fried, announced the news in a contrite message on Twitter.But his attempt to calm the ...</p>\n\n<a href=\"https://www.smh.com.au/business/companies/who-can-turn-off-the-websites-inside-bankman-fried-s-chaotic-final-days-in-charge-of-ftx-20221130-p5c2ct.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.smh.com.au/business/companies/who-can-turn-off-the-websites-inside-bankman-fried-s-chaotic-final-days-in-charge-of-ftx-20221130-p5c2ct.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2287859746","content_text":"When the cryptocurrency exchange FTX filed for bankruptcy on November 11, the company’s founder, Sam Bankman-Fried, announced the news in a contrite message on Twitter.But his attempt to calm the situation belied what had just taken place within the company. As the crisis unfolded, a group of FTX lawyers and executives moved to strip authority from Bankman-Fried and urged the company’s top leaders to prepare for bankruptcy. For days, Bankman-Fried ignored their warnings and clung to power, seemingly convinced that he could save the firm, despite mounting evidence to the contrary.Before his empire fell, FTX founder Sam Bankman-Fried had agreed to several deals that are now in limbo, including the purchase of Voyager.Credit:Bloomberg“The exchanges must be halted immediately,” Ryne Miller, a top FTX lawyer, wrote in an email to Bankman-Fried and other staff November 10. “The founding team is not currently in a cooperative posture.”Bankman-Fried eventually relented, stepping down as FTX’s chief executive and authorising the company to file for bankruptcy. Dozens of pages of internal company emails and texts obtained by The New York Times offer a detailed look at those chaotic final days, as messages flew back and forth among FTX officials who seemed to be growing increasingly irritated with the 30-year-old founder.Throughout, Bankman-Fried appeared deluded about FTX’s prospects, insisting that he could find a way to keep the company running, the documents show. A day before the bankruptcy filing, he told employees that he was trying to raise new funding, and as recently as last week he said he regretted authorising the bankruptcy.The messages reviewed by The Times and interviews with insiders show how a small group of lawyers and executives struggled to get through to Bankman-Fried, even appealing to his father as they pressed their case. While Bankman-Fried was scrambling to line up investors, Miller sent a text to top staff describing the prospect of a fundraise as “0% likelihood.”The push and pull continued into the early hours of November 11, when Miller sent a series of messages urging Bankman-Fried to sign papers so the company could file for bankruptcy.“Please can you sign the document,” he wrote at 2:29 a.m.FTX’s implosion has set off one of the worst upheavals in the history of crypto. Until this month, Bankman-Fried was regarded as one of the few trustworthy figures in a freewheeling, loosely regulated industry. He built a business empire, invested in smaller crypto firms and lobbied aggressively in Washington.Now his actions are devastating the industry. Hundreds of thousands of customers stored their funds on FTX, which provided a marketplace for people to buy and sell digital coins; the exchange owes its creditors an estimated $US8 billion ($12 billion). And since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure, as fears grow that the collapse could cause other companies to fail. On Monday, the crypto lender BlockFi filed for bankruptcy, citing the fallout from FTX’s disintegration.The FTX saga has left the entire industry crypto industry rattled. Credit:GettyThe legal ramifications are only beginning to take shape. Justice Department prosecutors are investigating FTX’s downfall, focusing on whether the exchange broke the law by lending its customers’ funds to the hedge fund Alameda Research, which Bankman-Fried also founded and owned. In bankruptcy court, FTX’s new chief executive has harshly criticised Bankman-Fried’s management of the company, calling it a “complete failure of corporate control.”Reached by phone Sunday night, Bankman-Fried declined to address the messages that top executives exchanged leading up to the bankruptcy filing. But he said that even after FTX’s collapse, he had found “numerous parties” willing to invest funds. He declined to name any of the possible investors.Miller and an FTX spokesman declined to comment.The crisis began November 8, when Bankman-Fried announced that a run on deposits at FTX had forced him to sell the company to one of its bitterest rivals, Binance. For about a day, the deal raised the prospect that FTX could survive as part of a giant exchange run by Binance. But after reviewing FTX’s financial records, Binance pulled out of the agreement, citing issues with “corporate due diligence.”“Sam, I’m sorry,” Binance’s founder, Changpeng Zhao, wrote in a text message to Bankman-Fried. “But we won’t be able to continue this deal. Way too many issues. CZ.”With FTX swiftly unravelling, Miller tried to seize control of the situation. A former lawyer for the Commodity Futures Trading Commission, Miller had served as general counsel of FTX’s U.S. arm since August 2021. While he never belonged to Bankman-Fried’s main circle of advisers in the Bahamas, where FTX was based, he had accompanied the young executive in meetings with regulators in Washington.Early in the crisis, Caroline Ellison, the chief executive of Alameda, wrote in a group chat with Miller that she was “kinda worried that everyone is gonna quit/take time off,” adding an emoticon of a sweating face. Miller responded November 9 that FTX needed “a professional manager vested with decision-making authority.”That afternoon, Miller asked Bankman-Fried and two other executives to shut down trading on FTX’s platforms“Who can turn off the websites?” he asked in a group chat at 4:41 p.m.Two minutes later, he got a response from Constance Wang, FTX’s chief operating officer and one of Bankman-Fried’s top lieutenants.“Ryne, I love you,” she wrote, “but I don’t want to stop trying yet.”Miller and other FTX executives also urged Bankman-Fried to give up some control of his business empire. At one point, Zach Dexter, an executive who worked on FTX’s American business, asked Bankman-Fried to delegate authority over US operations to him and Miller. In an exchange on the messaging system Slack, Bankman-Fried at first appeared to dodge Dexter’s question. Instead, he responded with proposed language for a banner on FTX’s US website.Since the implosion, several major crypto firms with close ties to FTX have come under mounting financial pressure,Credit:APSoon other FTX officials joined in, urging Bankman-Fried to forgo some control.But Bankman-Fried seemed convinced he could save FTX. In a message to employees November 10, he announced that he was hoping to secure new financing from crypto entrepreneur Justin Sun. FTX had “a lot theoretically in and/or potentially for the raise,” he wrote.Behind the scenes, pressure was growing to appoint a new executive to lead the exchange. On the night of November 9, Andrew Dietderich, a lawyer at Sullivan & Cromwell, sent FTX executives the resume of John Jay Ray III, a corporate turnaround expert who had led the unwinding of Enron after the energy company’s collapse in an accounting scandal in 2001.“Sam this is an excellent pick and I wholeheartedly hope you sign this tonight,” Dexter wrote in an email on the evening of November 10. “The faster John is in place, the faster the company can resolve issues that require urgent progress.”A flurry of emails followed. In a message at 3:38 a.m. on November 11, Miller asked for an update on Bankman-Fried’s decision.“I am chatting with Sam,” responded Ken Ziman, a lawyer at the firm Paul Weiss who was representing Bankman-Fried.Ten minutes later, Ziman confirmed that Bankman-Fried had signed the document, authorising Ray to take over FTX. The company filed for bankruptcy a few hours later.Bankman-Fried was also frustrated. Despite giving up control of FTX, he continued contacting possible investors about new funding for the exchange. In a letter to former colleagues last week, he said he regretted filing for bankruptcy, claiming that “potential interest in billions of dollars of funding came in roughly eight minutes after I signed the Chapter 11 docs.”He presented no evidence for that claim, and in any case, FTX was no longer his company to run. On the morning of November 11, Miller moved quickly to make that clear, requesting the deletion of information about the firm’s old leadership from its website.“Who can go to FTX.com and FTX US and remove the pictures and bios of the people under ‘about,’” he asked in a group chat with other executives.","news_type":1},"isVote":1,"tweetType":1,"viewCount":387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968546725,"gmtCreate":1669265448968,"gmtModify":1676538176604,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4131536026629192","idStr":"4131536026629192"},"themes":[],"htmlText":"Fear of China??","listText":"Fear of China??","text":"Fear of China??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968546725","repostId":"1158455916","repostType":4,"repost":{"id":"1158455916","pubTimestamp":1669262331,"share":"https://ttm.financial/m/news/1158455916?lang=&edition=fundamental","pubTime":"2022-11-24 11:58","market":"hk","language":"en","title":"Alibaba: Big Money Is Pulling Out","url":"https://stock-news.laohu8.com/highlight/detail?id=1158455916","media":"Seeking Alpha","summary":"SummaryInstitutional investors dumped over 25 million of Alibaba's shares recently, despite the decl","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Institutional investors dumped over 25 million of Alibaba's shares recently, despite the declining stock price.</li><li>Their fire sales seem to be driven by muddy prospects and heightened regulatory uncertainty.</li><li>Risk-averse investors may want to avoid the stock for the time being.</li></ul><p>Alibaba's (NYSE: BABA) (OTCPK: BABAF) shares are down 45% over the past year but don't be tempted to call it a bottom just yet. Latest data reveals that institutional investors have collectively sold off over 25 million of Alibaba'sshares in the last 13F reporting cycle on a net basis. Clearly, these sophisticated investors feel the stock still has ample downside potential from the current levels, despite its recent correction, which should encourage investors to remain on the sidelines for the time being at least and reconsider their long-side thesis for the name. Let's take a closer look to gain a better understanding of it all.</p><p><b>Tracking Institutional Activity</b></p><p>Let me start by saying that institutional investors have certain resources at their disposal - such as research teams, cutting-edge research tools, and access to company managements - that provide them with an edge over retail investors. So, tracking the trading activity of these sophisticated investors reveals how their sentiment pertaining to any given stock is evolving with time, and if it aligns with our trade direction.</p><p>Coming to Alibaba, a group of 437institutionscollectively bought 51.4 million shares, while another group of 704 institutions sold off 76.7 million of the ecommerce company's shares in the last 13F cycle. This means that institutional investors sold off 25.3 million of Alibaba's shares last quarter on a net basis. To put things in perspective, this selloff amounts to nearly 1% of the company's total shares outstanding at the time of this writing.</p><p>To make matters worse, note how the number of institutions that sold off Alibaba's shares (704), greatly outnumbered those that increased their positions (437) in the company. This is a clear indication that the selloff wasn't concentrated across a few entities and was actually driven by a broad swath of institutions that grew bearish on the name.</p><p>What's particularly interesting here is that Alibaba's shares were on a constant decline during the last 13F reporting cycle, when these entities were trimming their positions in the internet giant. These entities clearly did not perceive the stock to be attractive in the $80 and $120 price band, meaning it's likely to act as a resistance/upper ceiling for the stock should it rally in the coming weeks.</p><p><img src=\"https://static.tigerbbs.com/8a72a2cb30f16a90ea8dba6ba6dbe788\" tg-width=\"640\" tg-height=\"431\" referrerpolicy=\"no-referrer\"/></p><p>BusinessQuant.com</p><p>For the record, the last 13F reporting cycle spanned from July through September and the data was fully disseminated only last week. This means the data being referenced in this article is still fresh and relevant to our discussion here.</p><p>Moving on, I also wanted to check if institutional investors were bearish on Alibaba in particular, or if they were bearish on the entire e-commerce industry. If these entities were bearish on the entire industry, then Alibaba wouldn't stand out and our discussion would end right here. So, I compiled the institutional ownership data relating to 40 internet retail companies that are currently listed on US bourses.</p><p>Interestingly, there wasn't any dominating bullish or bearish sentiment in the internet retail industry as a whole. But note in the table below that these investors were bearish on internet retail stocks from China in particular, such as Alibaba, JD.com (JD), and Baozun (BZUN) amongst others. So, it seems like a deliberate effort to cut exposure to Chinese internet retail stocks.</p><p><img src=\"https://static.tigerbbs.com/8862a07e3f934754694328dc2678569b\" tg-width=\"506\" tg-height=\"752\" referrerpolicy=\"no-referrer\"/></p><p>BusinessQuant.com</p><p>We cannot argue that Alibaba is better than JD or Baozun just because institutions sold off only 1% of its shares while its mentioned peers saw a 1.3% selloff. First, there's only a marginal difference in both the selloff figures due to which we cannot speculate that institutions have different approach towards any of these mentioned stocks. Secondly, a selloff is a selloff, and the data indicates institutional bearishness towards Chinese internet retail stocks. So, I'd say, all three mentioned stocks are in the same boat.</p><p>This establishes the fact that institutional investors grew bearish on Alibaba in the last 13F cycle. But this leads us to an important question - what's the underlying reason for this widespread bearishness?</p><p><b>Reasons for Exercising Caution</b></p><p>First of all, there's the common misconception that Alibaba's shares are undervalued at current levels. The stock is trading at just 1.7 times its trailing twelve-month sales, which seems quite low and attractive on a standalone basis. But low valuation multiples aren't the sole determinant of how attractive an investment might be.</p><p>It's important to remember that Alibaba's trailing twelve-month revenue is down 5.5% per its latest earnings release. In contrast, there are several other internet retail companies that are trading at similar Price-to-Sales (or P/S) multiples whilst still posting elevated levels of revenue growth, going as high as 47% in certain cases. This means Alibaba makes for a really poor investment on a relative basis.</p><p><img src=\"https://static.tigerbbs.com/aaa221e920fb7acd909aad5c57bc079f\" tg-width=\"640\" tg-height=\"349\" referrerpolicy=\"no-referrer\"/></p><p>BusinessQuant.com</p><p>Secondly, Alibaba won't be able to turn the tide anytime soon, and it's likely to remain revenue challenged in the coming quarters as well. I say this because COVID-19 cases have spiked in China this week, and the country's regulators are now intensifying their lockdowns to prevent the infection from spreading further.</p><p>I believe this development will have a two-fold effect. First, it will cripple China's logistics operations as the movement of goods will be restricted across cities. Secondly, Chinese citizens won't be able to go to their workplaces, and they're likely to face mass layoffs/pay cuts all over again, which will limit their purchasing power. For Alibaba and its shareholders, this means Alibaba's ecommerce operations in China will post a yet another revenue decline next quarter.</p><p><img src=\"https://static.tigerbbs.com/f0d9ac33d5ff34652d1c79f8984c3ed7\" tg-width=\"640\" tg-height=\"636\" referrerpolicy=\"no-referrer\"/></p><p>BusinessQuant.com</p><p>Lastly, Regulatory interventions limit Alibaba's growth potential and add uncertainty to its growth prospects, essentially souring the investment sentiment.</p><p><b>Final Thoughts</b></p><p>There's no denying that Alibaba has grown at a spectacular pace in the past decade and has been extremely rewarding for its shareholders. But those days seem to be over and in the past. The company is now mired with regulatory uncertainty, its growth prospects are limited, and the stock isn't appealing when looking at industry comparables.</p><p>As the valuation comparison chart above indicates, there are several other stocks in the internet retail industry that are trading at low P/S multiples but growing their revenue at a rapid rate. This, in my opinion, is another major reason why a broad swathe of institutional investors has been dumping Alibaba's shares of late.</p><p>Considering these issues, I believe it's best to avoid Alibaba for the time being and have a "Hold" rating for the name. This, however, should not be construed as a call to sell the stock. Good Luck!</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>Alibaba: Big Money Is Pulling Out</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\">\nAlibaba: Big Money Is Pulling Out\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-24 11:58 GMT+8 <a href=https://seekingalpha.com/article/4560058-alibaba-big-money-is-pulling-out><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryInstitutional investors dumped over 25 million of Alibaba's shares recently, despite the declining stock price.Their fire sales seem to be driven by muddy prospects and heightened regulatory ...</p>\n\n<a href=\"https://seekingalpha.com/article/4560058-alibaba-big-money-is-pulling-out\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4560058-alibaba-big-money-is-pulling-out","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158455916","content_text":"SummaryInstitutional investors dumped over 25 million of Alibaba's shares recently, despite the declining stock price.Their fire sales seem to be driven by muddy prospects and heightened regulatory uncertainty.Risk-averse investors may want to avoid the stock for the time being.Alibaba's (NYSE: BABA) (OTCPK: BABAF) shares are down 45% over the past year but don't be tempted to call it a bottom just yet. Latest data reveals that institutional investors have collectively sold off over 25 million of Alibaba'sshares in the last 13F reporting cycle on a net basis. Clearly, these sophisticated investors feel the stock still has ample downside potential from the current levels, despite its recent correction, which should encourage investors to remain on the sidelines for the time being at least and reconsider their long-side thesis for the name. Let's take a closer look to gain a better understanding of it all.Tracking Institutional ActivityLet me start by saying that institutional investors have certain resources at their disposal - such as research teams, cutting-edge research tools, and access to company managements - that provide them with an edge over retail investors. So, tracking the trading activity of these sophisticated investors reveals how their sentiment pertaining to any given stock is evolving with time, and if it aligns with our trade direction.Coming to Alibaba, a group of 437institutionscollectively bought 51.4 million shares, while another group of 704 institutions sold off 76.7 million of the ecommerce company's shares in the last 13F cycle. This means that institutional investors sold off 25.3 million of Alibaba's shares last quarter on a net basis. To put things in perspective, this selloff amounts to nearly 1% of the company's total shares outstanding at the time of this writing.To make matters worse, note how the number of institutions that sold off Alibaba's shares (704), greatly outnumbered those that increased their positions (437) in the company. This is a clear indication that the selloff wasn't concentrated across a few entities and was actually driven by a broad swath of institutions that grew bearish on the name.What's particularly interesting here is that Alibaba's shares were on a constant decline during the last 13F reporting cycle, when these entities were trimming their positions in the internet giant. These entities clearly did not perceive the stock to be attractive in the $80 and $120 price band, meaning it's likely to act as a resistance/upper ceiling for the stock should it rally in the coming weeks.BusinessQuant.comFor the record, the last 13F reporting cycle spanned from July through September and the data was fully disseminated only last week. This means the data being referenced in this article is still fresh and relevant to our discussion here.Moving on, I also wanted to check if institutional investors were bearish on Alibaba in particular, or if they were bearish on the entire e-commerce industry. If these entities were bearish on the entire industry, then Alibaba wouldn't stand out and our discussion would end right here. So, I compiled the institutional ownership data relating to 40 internet retail companies that are currently listed on US bourses.Interestingly, there wasn't any dominating bullish or bearish sentiment in the internet retail industry as a whole. But note in the table below that these investors were bearish on internet retail stocks from China in particular, such as Alibaba, JD.com (JD), and Baozun (BZUN) amongst others. So, it seems like a deliberate effort to cut exposure to Chinese internet retail stocks.BusinessQuant.comWe cannot argue that Alibaba is better than JD or Baozun just because institutions sold off only 1% of its shares while its mentioned peers saw a 1.3% selloff. First, there's only a marginal difference in both the selloff figures due to which we cannot speculate that institutions have different approach towards any of these mentioned stocks. Secondly, a selloff is a selloff, and the data indicates institutional bearishness towards Chinese internet retail stocks. So, I'd say, all three mentioned stocks are in the same boat.This establishes the fact that institutional investors grew bearish on Alibaba in the last 13F cycle. But this leads us to an important question - what's the underlying reason for this widespread bearishness?Reasons for Exercising CautionFirst of all, there's the common misconception that Alibaba's shares are undervalued at current levels. The stock is trading at just 1.7 times its trailing twelve-month sales, which seems quite low and attractive on a standalone basis. But low valuation multiples aren't the sole determinant of how attractive an investment might be.It's important to remember that Alibaba's trailing twelve-month revenue is down 5.5% per its latest earnings release. In contrast, there are several other internet retail companies that are trading at similar Price-to-Sales (or P/S) multiples whilst still posting elevated levels of revenue growth, going as high as 47% in certain cases. This means Alibaba makes for a really poor investment on a relative basis.BusinessQuant.comSecondly, Alibaba won't be able to turn the tide anytime soon, and it's likely to remain revenue challenged in the coming quarters as well. I say this because COVID-19 cases have spiked in China this week, and the country's regulators are now intensifying their lockdowns to prevent the infection from spreading further.I believe this development will have a two-fold effect. First, it will cripple China's logistics operations as the movement of goods will be restricted across cities. Secondly, Chinese citizens won't be able to go to their workplaces, and they're likely to face mass layoffs/pay cuts all over again, which will limit their purchasing power. For Alibaba and its shareholders, this means Alibaba's ecommerce operations in China will post a yet another revenue decline next quarter.BusinessQuant.comLastly, Regulatory interventions limit Alibaba's growth potential and add uncertainty to its growth prospects, essentially souring the investment sentiment.Final ThoughtsThere's no denying that Alibaba has grown at a spectacular pace in the past decade and has been extremely rewarding for its shareholders. But those days seem to be over and in the past. The company is now mired with regulatory uncertainty, its growth prospects are limited, and the stock isn't appealing when looking at industry comparables.As the valuation comparison chart above indicates, there are several other stocks in the internet retail industry that are trading at low P/S multiples but growing their revenue at a rapid rate. This, in my opinion, is another major reason why a broad swathe of institutional investors has been dumping Alibaba's shares of late.Considering these issues, I believe it's best to avoid Alibaba for the time being and have a \"Hold\" rating for the name. This, however, should not be construed as a call to sell the stock. Good Luck!","news_type":1},"isVote":1,"tweetType":1,"viewCount":210,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9923140869,"gmtCreate":1670813777452,"gmtModify":1676538438836,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4131536026629192","idStr":"4131536026629192"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9923140869","isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968546527,"gmtCreate":1669265404070,"gmtModify":1676538176597,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4131536026629192","idStr":"4131536026629192"},"themes":[],"htmlText":"Tks for sharing","listText":"Tks for sharing","text":"Tks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968546527","repostId":"2285419168","repostType":4,"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9968898272,"gmtCreate":1669169722996,"gmtModify":1676538161841,"author":{"id":"4131536026629192","authorId":"4131536026629192","name":"Halo Money","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4131536026629192","idStr":"4131536026629192"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9968898272","repostId":"1131111007","repostType":2,"repost":{"id":"1131111007","pubTimestamp":1669116352,"share":"https://ttm.financial/m/news/1131111007?lang=&edition=fundamental","pubTime":"2022-11-22 19:25","market":"us","language":"en","title":"Tesla’s Sinking Shares Leave Wall Street Analyst Targets in Dust","url":"https://stock-news.laohu8.com/highlight/detail?id=1131111007","media":"Bloomberg","summary":"Stock has lost 52% this year, wiping out over $500 billionTesla needs 80% rally to hit median PT, am","content":"<html><head></head><body><ul><li>Stock has lost 52% this year, wiping out over $500 billion</li><li>Tesla needs 80% rally to hit median PT, among widest on index</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8b12ef6acc5cebc2ced7a2788456abf0\" tg-width=\"1000\" tg-height=\"666\" width=\"100%\" height=\"auto\"/><span>Tesla has been facing supply-chain snarls and rising raw-material costs.Photographer: Toru Hanai/Bloomberg</span></p><p>The rapid selloff in Tesla Inc. shares has left most price targets from ever-bullish Wall Street analysts seemingly obsolete.</p><p>The yawning gap means Tesla shares need to rally a whopping 80% to hit the median analyst target price -- the second widest on the Nasdaq 100 Index, just behind Baidu Inc. The Elon Musk-led firm’s stock has slumped 52% this year to $167.87, while analysts have a median 12-month target price of $302.</p><p><img src=\"https://static.tigerbbs.com/417b23afd83bb434529623860213d4fe\" tg-width=\"965\" tg-height=\"605\" width=\"100%\" height=\"auto\"/></p><p>Tesla has been facing a host of issues including Musk’s shift-in-focus on turning around Twitter Inc. to China’s return to Covid Zero curbs. Adding to that are supply-chain snarls, rising raw-material costs and buyers feeling the squeeze of stubborn inflation and rising interest rates.</p><p>Still, many analysts are sticking to their bullish calls, with 27 of them rating the stock a buy, while 11 have a hold and seven have sell. The most bullish call has a price target of $530, according to data compiled by Bloomberg.</p><p>“It could be very hard for the stock to recover in the coming years,” said Valerie Gastaldy, a technical analyst at DaybyDay. “We recommend not looking back and waving bye-bye to this old darling.”</p><p>The slump this year has taken Tesla’s market capitalization to a touch above $530 billion, a far cry from a trillion dollars in April.</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>Tesla’s Sinking Shares Leave Wall Street Analyst Targets in Dust</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’s Sinking Shares Leave Wall Street Analyst Targets in Dust\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-22 19:25 GMT+8 <a href=https://www.bloomberg.com/news/articles/2022-11-22/tesla-s-sinking-shares-leave-wall-street-analyst-targets-in-dust?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock has lost 52% this year, wiping out over $500 billionTesla needs 80% rally to hit median PT, among widest on indexTesla has been facing supply-chain snarls and rising raw-material costs....</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-11-22/tesla-s-sinking-shares-leave-wall-street-analyst-targets-in-dust?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":{"TSLA":"特斯拉"},"source_url":"https://www.bloomberg.com/news/articles/2022-11-22/tesla-s-sinking-shares-leave-wall-street-analyst-targets-in-dust?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131111007","content_text":"Stock has lost 52% this year, wiping out over $500 billionTesla needs 80% rally to hit median PT, among widest on indexTesla has been facing supply-chain snarls and rising raw-material costs.Photographer: Toru Hanai/BloombergThe rapid selloff in Tesla Inc. shares has left most price targets from ever-bullish Wall Street analysts seemingly obsolete.The yawning gap means Tesla shares need to rally a whopping 80% to hit the median analyst target price -- the second widest on the Nasdaq 100 Index, just behind Baidu Inc. The Elon Musk-led firm’s stock has slumped 52% this year to $167.87, while analysts have a median 12-month target price of $302.Tesla has been facing a host of issues including Musk’s shift-in-focus on turning around Twitter Inc. to China’s return to Covid Zero curbs. Adding to that are supply-chain snarls, rising raw-material costs and buyers feeling the squeeze of stubborn inflation and rising interest rates.Still, many analysts are sticking to their bullish calls, with 27 of them rating the stock a buy, while 11 have a hold and seven have sell. The most bullish call has a price target of $530, according to data compiled by Bloomberg.“It could be very hard for the stock to recover in the coming years,” said Valerie Gastaldy, a technical analyst at DaybyDay. “We recommend not looking back and waving bye-bye to this old darling.”The slump this year has taken Tesla’s market capitalization to a touch above $530 billion, a far cry from a trillion dollars in April.","news_type":1},"isVote":1,"tweetType":1,"viewCount":290,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
