To The Moon

SummaryThe market can't catch a break; even when the equity market is closed, more inflation data is

Summary Bitcoin will be Bitcoin and bucket shops will be bucket shops. Stocks, options, commodities

An analyst sees Apple rapidly growing its advertising business at a similar trajectory to what Amazo

The Hang Seng Tech Index dropped as much as 3%, as China’s market regulator released draft rules ban

It’s the late innings of second-quarter earnings season, with retailers ready to step up to the plate. Walmart and Home Depot report on Tuesday, followed by Lowe’s, Target, and TJX on Wednesday. Kohl’s, Macy’s, BJ’s Wholesale, and L Brands are Thursday’s retail highlights, then Foot Locker closes the week on Friday.The Census Bureau’s July retail sales data for July is also out this week, on Tuesday. Economists on average are forecasting a 0.2% seasonally adjusted increase last month, after a 0.

週四盤後，美版“美團”$DoorDash, Inc.(DASH)$ 、美版“拼多多”$ContextLogic Inc.(WISH)$ 公佈了2021財年第二季度業績，結果讓人大跌眼鏡。疲軟的業績指引給兩家企業下半年蒙上了一層陰影，在中國順風順水的互聯網模式卻在美國舉步維艱，各項成本高企增加了盈利難度，疫情紅利消失後，這些企業將如何維持增長？ 慘淡季報後暴跌20%，wish還有希望嗎？ ContextLogic是跨境電商巨頭wish母公司，被稱爲美版“拼多多”。第二季度，公司營收同比下降6.4%至6.56億美元，淨虧損1.11億美元，不及管理層預期和市場預期，盤後股價暴跌20%。受制於去年高基數，其實本季度肯定面臨很大的比較壓力，但收入同比下滑對於電商平臺是不可接受的。 其實在業績披露之前，市場就發出過預警，美銀分析師最近將ContextLogic的評級從之前的“買入”下調至“中性”，12美元的目標價也是目前所有分析師中最低的。雖然投資者和對電商初創企業仍普遍看好，但短期內市場資金明顯出現了搖擺。 同其他電商初創平臺類似，ContextLogic也難免經歷着短期業績陣痛期，而本季度只是ContextLogic增速放緩的一個縮影。其實在2019年，公司就告別了高增長，直到疫情開始各項業務才全面復甦。我們看到本季度疫情紅利褪去後，活躍賣家數、訂單量、APP下載量、用戶時長全線下降，ContextLogic業績不穩定的特性暴露無遺。 電商平臺初期爲了擴大市場、吸引用戶，高投入要忍受巨大的虧損壓力。更可況wish還在自建物流體系，以減少運輸時間並降低運費