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Gabbytham

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- GabbythamGabbytham
  ·2023-10-19
  $Tesla Motors(TSLA)$
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- GabbythamGabbytham
  ·2023-09-26
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  Fortune’s Forecast: Top 3 Stocks Set to Dominate the Next Decade
  Are you looking to invest in stocks that will dominate? Here are the top three stocks to buy for the next decade.
  Fortune’s Forecast: Top 3 Stocks Set to Dominate the Next Decade
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- GabbythamGabbytham
  ·2023-09-20
  m r Yy
  Sea Limited: Easy To Sea
  Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has
  Sea Limited: Easy To Sea
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- GabbythamGabbytham
  ·2023-06-08
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  Hot Chinese ADRs Climb in Morning Trading
  Hot Chinese ADRs climbed in morning trading. Alibaba and Baidu rose 1%; Pinduoduo rose 3%; Bilibili
  Hot Chinese ADRs Climb in Morning Trading
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- GabbythamGabbytham
  ·2023-03-23
  $First Republic Bank(FRC)$
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- GabbythamGabbytham
  ·2021-03-01
  Ok
  Bitcoin falls 5.84% to $43,418
  Feb 28 (Reuters) - Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous
  Bitcoin falls 5.84% to $43,418
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href=\"https://ttm.financial/S/TSLA\">$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/231936535183600","isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":224049525530664,"gmtCreate":1695737302364,"gmtModify":1695737305555,"author":{"id":"3575163037930744","authorId":"3575163037930744","name":"Gabbytham","avatar":"https://static.tigerbbs.com/a3740a030731d940acefe27e31c70ad5","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3575163037930744","authorIdStr":"3575163037930744"},"themes":[],"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/224049525530664","repostId":"2370279996","repostType":2,"repost":{"id":"2370279996","kind":"highlight","pubTimestamp":1695737066,"share":"https://ttm.financial/m/news/2370279996?lang=&edition=fundamental","pubTime":"2023-09-26 22:04","market":"us","language":"en","title":"Fortune’s Forecast: Top 3 Stocks Set to Dominate the Next Decade","url":"https://stock-news.laohu8.com/highlight/detail?id=2370279996","media":"InvestorPlace","summary":"Are you looking to invest in stocks that will dominate? Here are the top three stocks to buy for the next decade.","content":"<html><head></head><body><ul style=\"\"><li><p>The following stocks focus on technological advancements to gain a competitive edge in their respective industries.</p></li><li><p><strong>Tesla</strong> (<strong><u>TSLA</u></strong>): Its focus on FSD technology, battery advancements, and entry into the energy sector signifies its critical lead in the automotive and energy industries.</p></li><li><p><strong>Crowdstrike</strong> (<strong><u>CRWD</u></strong>): Its Falcon platform, powered by AI, demonstrates its dedication to advancing cybersecurity solutions.</p></li><li><p><strong>AMD</strong> (<strong><u>AMD</u></strong>): It has an edge in the development of high-performance processors, with a focus on AI technology supply.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/caa2f2b424de38728029d1d89ccbce0d\" tg-width=\"768\" tg-height=\"432\"/></p><p>Source: AdityaB. Photography/ShutterStock.com</p><p>In this dynamic world, finding stocks with the potential to thrive over the long haul is akin to discovering hidden treasure. As technology steps into a new decade, three stocks stand out on the horizon, poised to dominate their respective industries. This has led to the rise of stocks to buy.</p><p>The first one, the electric vehicle pioneer, continues breaking records and forging ahead in autonomous driving and sustainable energy solutions. With its AI-powered cybersecurity platform, the second one leads the charge in securing the digital world against evolving threats. Meanwhile, the third is revolutionizing data centers, AI technology, and embedded systems, garnering attention from tech giants worldwide.</p><p>In short, the article explores these companies’ strategies and potential for monumental growth. It delves into electric mobility, cybersecurity resilience, and cutting-edge processors, discovering why these stocks to buy may lead to the next decade’s financial triumph.</p><h2 id=\"id_3109552302\">Tesla (TSLA)</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4b26c63f905e3784c36ff8fe33e46b83\" tg-width=\"300\" tg-height=\"169\"/></p><p>Source: Zigres / Shutterstock.com</p><p><strong>Tesla</strong> (NASDAQ:<strong><u>TSLA</u></strong>) may reap a significant long-term edge, grounded in its robust fundamentals and strategic vision. Tesla’s remarkable capacity to consistently achieve record-breaking vehicle production and deliveries sets a solid foundation for its long-term success.</p><p>In Q2 2023, the company reported record revenue of approximately $25 billion, underscoring its capability to scale operations effectively. This is anticipated to persist as the Model Y gains traction worldwide. </p><p>The company’s full self-driving technology aims to enhance safety and unlock a new revenue stream through the Robotaxi network. This, in turn, may boost customer loyalty and attract new buyers as the technology evolves. Also, Tesla’s development of the Dojo training computer may be a game-changer in AI. It’s a reason it’s one of those stocks to buy. This in-house solution is designed to significantly reduce the cost of training neural networks, making AI development more efficient and cost-effective.</p><p>Fundamentally, Tesla’s supercharging network, with over 50,000 connectors and 5,000 locations, is a strategic asset. This extensive network provides Tesla owners with the convenience of fast charging, reinforcing the attractiveness of Tesla vehicles. Additionally, Tesla’s open approach to sharing its charging standard with other automakers fosters industry growth and the widespread adoption of electric vehicles (EVs).</p><p>Further, the development of the 4680 cells represents a significant advancement in battery technology, offering higher energy density and cost-efficiency. This technological edge reinforces Tesla’s position as an industry leader in electric mobility.</p><p>Finally, Tesla’s foray into the energy sector through products like Megapack and Powerwall diversifies its revenue streams. Thus, integrating energy solutions with electric vehicles, exemplified by features like Charge on Solar, provides unique value to customers.</p><h2 id=\"id_662727838\">Crowdstrike (CRWD)</h2><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd4bc56182d066070711d875d2435892\" tg-width=\"300\" tg-height=\"169\"/></p><p>Source: T. Schneider / Shutterstock.com</p><p><strong>CrowdStrike’s</strong> (NASDAQ:<strong><u>CRWD</u></strong>) annual recurring revenue represents a 37% (Q2 2024) increase. Over an 80% YoY increase in deals involving eight or more Falcon platform modules indicates high customer adoption and retention.</p><p>The Falcon platform, powered by AI, is recognized as the foundational cybersecurity platform for customers. Its cloud-native architecture and lightweight sensor form factor offer easy and fast deployment, making it adaptable for any digital enterprise.</p><p>The cybersecurity market is undergoing consolidation, favoring companies with comprehensive platforms over point-to-point product vendors. Smaller, specialized firms struggle to compete with CrowdStrike’s platform approach. CrowdStrike’s platform reduces Total Cost of Ownership (TCO) by eliminating the need for multiple-point products, reducing complexity, and streamlining operations.</p><p>Notably, the cloud security market may reach $18 billion by 2026. Falcon Cloud Security, focusing on the Cloud Native Application Protection Platform (CNAPP), has rapidly grown. The ending ARR for Falcon modules deployed in public clouds grew 70% YoY, making CrowdStrike a leader in cloud security. All in all, this makes it one of those stocks to buy.</p><p>Also, the Falcon Identity Protection offering has experienced remarkable growth, ending with ARR surpassing $200 million, a 194% YoY increase. Identity-based attacks are rising, making identity protection a critical need for organizations. Further, LogScale has grown substantially, with ARR exceeding $100 million, driven by its speed, flexibility, and cost-effective licensing model. Thus, several customers are migrating from legacy SIEM solutions to Falcon’s unified platform.</p><p>CrowdStrike’s partnership ecosystem is a significant contributor to its growth. CrowdStrike is <strong>Amazon</strong> (NASDAQ:<strong><u>AMZN</u></strong>) AWS’ largest cybersecurity go-to-market partner, winning the ISV Partner of the Year Award. This validates the company’s leadership in cloud security. Lastly, its partnership with <strong>Dell</strong> (NYSE:<strong><u>DELL</u></strong>) has generated eight figures in deal value within a short span, and the partnership has facilitated consolidation deals and increased partner engagement.</p><h2 id=\"id_3999849184\">AMD (AMD)</h2><p><strong>Advanced Micro Devices</strong>, or <strong>AMD</strong> (NASDAQ:<strong><u>AMD</u></strong>) presence in the data center market, has been steadily expanding, primarily driven by its EPYC server processors. In recent years, AMD’s EPYC CPUs have gained recognition for their impressive performance and energy efficiency. These processors have found favor with major cloud providers, enterprises, and even supercomputing installations.</p><p>With the launch of the 4th Gen EPYC CPUs, AMD witnessed a surge in adoption, particularly among cloud providers. AWS, <strong>Alibaba</strong> (NYSE:<strong><u>BABA</u></strong>), <strong>Microsoft</strong> (NASDAQ:<strong><u>MSFT</u></strong>), and <strong>Oracle</strong> (NYSE:<strong><u>ORCL</u></strong>), among others, have deployed Genoa instances, highlighting the performance and efficiency of AMD’s server processors.</p><p>Furthermore, AMD’s server product portfolio continues to grow. The introduction of Bergamo and Genoa-X has expanded its offerings, addressing various workload requirements. For example, Microsoft Azure has announced Genoa-X HPC instances that deliver significantly higher performance for technical computing workloads.</p><p>Strategically, AMD focuses on capitalizing on the immense potential of being an AI tech supplier. AMD’s Instinct MI250 and MI300 hardware and software solutions support AI deployments. In addition to hardware, AMD places significant emphasis on software optimization. Its ROCm software stack continually evolves to provide developers with the tools they need to harness the full potential of AMD’s AI hardware. The compatibility with popular AI frameworks like PyTorch, TensorFlow, and Triton makes it easier for developers to leverage AMD’s AI solutions effectively.</p><p>Finally, AMD has experienced growth in the embedded segment driven by various industries, including industrial, healthcare, automotive, and broadcast. Therefore, the company’s adaptive computing product portfolio, including the Versal Premium VP1902 adaptive SoC and Spartan UltraScale+ FPGA family, addresses the specific requirements of these industries. </p></body></html>","source":"investorplace_stock_picks","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>Fortune’s Forecast: Top 3 Stocks Set to Dominate the Next Decade</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\">\nFortune’s Forecast: Top 3 Stocks Set to Dominate the Next Decade\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-09-26 22:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2023/09/fortunes-forecast-top-3-stocks-set-to-dominate-the-next-decade/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The following stocks focus on technological advancements to gain a competitive edge in their respective industries.Tesla (TSLA): Its focus on FSD technology, battery advancements, and entry into the ...</p>\n\n<a href=\"https://investorplace.com/2023/09/fortunes-forecast-top-3-stocks-set-to-dominate-the-next-decade/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4502":"阿里概念","TSLA":"特斯拉","AMD":"美国超微公司","BK4505":"高瓴资本持仓","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","BK4504":"桥水持仓","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4170":"电脑硬件、储存设备及电脑周边","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4592":"伊斯兰概念","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","BK4525":"远程办公概念","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","CRWD":"CrowdStrike Holdings, Inc.","LU0082616367.USD":"摩根大通美国科技A（dist）","IE00B19Z9Z06.USD":"Legg Mason ClearBridge - US Aggressive Growth A Acc USD","BK4524":"宅经济概念","LU0208291251.USD":"FRANKLIN MUTUAL U.S. VALUE \"A\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4527":"明星科技股","LU0061474960.USD":"天利环球焦点基金AU Acc","BK4526":"热门中概股","BK4588":"碎股","BK4503":"景林资产持仓"},"source_url":"https://investorplace.com/2023/09/fortunes-forecast-top-3-stocks-set-to-dominate-the-next-decade/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2370279996","content_text":"The following stocks focus on technological advancements to gain a competitive edge in their respective industries.Tesla (TSLA): Its focus on FSD technology, battery advancements, and entry into the energy sector signifies its critical lead in the automotive and energy industries.Crowdstrike (CRWD): Its Falcon platform, powered by AI, demonstrates its dedication to advancing cybersecurity solutions.AMD (AMD): It has an edge in the development of high-performance processors, with a focus on AI technology supply.Source: AdityaB. Photography/ShutterStock.comIn this dynamic world, finding stocks with the potential to thrive over the long haul is akin to discovering hidden treasure. As technology steps into a new decade, three stocks stand out on the horizon, poised to dominate their respective industries. This has led to the rise of stocks to buy.The first one, the electric vehicle pioneer, continues breaking records and forging ahead in autonomous driving and sustainable energy solutions. With its AI-powered cybersecurity platform, the second one leads the charge in securing the digital world against evolving threats. Meanwhile, the third is revolutionizing data centers, AI technology, and embedded systems, garnering attention from tech giants worldwide.In short, the article explores these companies’ strategies and potential for monumental growth. It delves into electric mobility, cybersecurity resilience, and cutting-edge processors, discovering why these stocks to buy may lead to the next decade’s financial triumph.Tesla (TSLA)Source: Zigres / Shutterstock.comTesla (NASDAQ:TSLA) may reap a significant long-term edge, grounded in its robust fundamentals and strategic vision. Tesla’s remarkable capacity to consistently achieve record-breaking vehicle production and deliveries sets a solid foundation for its long-term success.In Q2 2023, the company reported record revenue of approximately $25 billion, underscoring its capability to scale operations effectively. This is anticipated to persist as the Model Y gains traction worldwide. The company’s full self-driving technology aims to enhance safety and unlock a new revenue stream through the Robotaxi network. This, in turn, may boost customer loyalty and attract new buyers as the technology evolves. Also, Tesla’s development of the Dojo training computer may be a game-changer in AI. It’s a reason it’s one of those stocks to buy. This in-house solution is designed to significantly reduce the cost of training neural networks, making AI development more efficient and cost-effective.Fundamentally, Tesla’s supercharging network, with over 50,000 connectors and 5,000 locations, is a strategic asset. This extensive network provides Tesla owners with the convenience of fast charging, reinforcing the attractiveness of Tesla vehicles. Additionally, Tesla’s open approach to sharing its charging standard with other automakers fosters industry growth and the widespread adoption of electric vehicles (EVs).Further, the development of the 4680 cells represents a significant advancement in battery technology, offering higher energy density and cost-efficiency. This technological edge reinforces Tesla’s position as an industry leader in electric mobility.Finally, Tesla’s foray into the energy sector through products like Megapack and Powerwall diversifies its revenue streams. Thus, integrating energy solutions with electric vehicles, exemplified by features like Charge on Solar, provides unique value to customers.Crowdstrike (CRWD)Source: T. Schneider / Shutterstock.comCrowdStrike’s (NASDAQ:CRWD) annual recurring revenue represents a 37% (Q2 2024) increase. Over an 80% YoY increase in deals involving eight or more Falcon platform modules indicates high customer adoption and retention.The Falcon platform, powered by AI, is recognized as the foundational cybersecurity platform for customers. Its cloud-native architecture and lightweight sensor form factor offer easy and fast deployment, making it adaptable for any digital enterprise.The cybersecurity market is undergoing consolidation, favoring companies with comprehensive platforms over point-to-point product vendors. Smaller, specialized firms struggle to compete with CrowdStrike’s platform approach. CrowdStrike’s platform reduces Total Cost of Ownership (TCO) by eliminating the need for multiple-point products, reducing complexity, and streamlining operations.Notably, the cloud security market may reach $18 billion by 2026. Falcon Cloud Security, focusing on the Cloud Native Application Protection Platform (CNAPP), has rapidly grown. The ending ARR for Falcon modules deployed in public clouds grew 70% YoY, making CrowdStrike a leader in cloud security. All in all, this makes it one of those stocks to buy.Also, the Falcon Identity Protection offering has experienced remarkable growth, ending with ARR surpassing $200 million, a 194% YoY increase. Identity-based attacks are rising, making identity protection a critical need for organizations. Further, LogScale has grown substantially, with ARR exceeding $100 million, driven by its speed, flexibility, and cost-effective licensing model. Thus, several customers are migrating from legacy SIEM solutions to Falcon’s unified platform.CrowdStrike’s partnership ecosystem is a significant contributor to its growth. CrowdStrike is Amazon (NASDAQ:AMZN) AWS’ largest cybersecurity go-to-market partner, winning the ISV Partner of the Year Award. This validates the company’s leadership in cloud security. Lastly, its partnership with Dell (NYSE:DELL) has generated eight figures in deal value within a short span, and the partnership has facilitated consolidation deals and increased partner engagement.AMD (AMD)Advanced Micro Devices, or AMD (NASDAQ:AMD) presence in the data center market, has been steadily expanding, primarily driven by its EPYC server processors. In recent years, AMD’s EPYC CPUs have gained recognition for their impressive performance and energy efficiency. These processors have found favor with major cloud providers, enterprises, and even supercomputing installations.With the launch of the 4th Gen EPYC CPUs, AMD witnessed a surge in adoption, particularly among cloud providers. AWS, Alibaba (NYSE:BABA), Microsoft (NASDAQ:MSFT), and Oracle (NYSE:ORCL), among others, have deployed Genoa instances, highlighting the performance and efficiency of AMD’s server processors.Furthermore, AMD’s server product portfolio continues to grow. The introduction of Bergamo and Genoa-X has expanded its offerings, addressing various workload requirements. For example, Microsoft Azure has announced Genoa-X HPC instances that deliver significantly higher performance for technical computing workloads.Strategically, AMD focuses on capitalizing on the immense potential of being an AI tech supplier. AMD’s Instinct MI250 and MI300 hardware and software solutions support AI deployments. In addition to hardware, AMD places significant emphasis on software optimization. Its ROCm software stack continually evolves to provide developers with the tools they need to harness the full potential of AMD’s AI hardware. The compatibility with popular AI frameworks like PyTorch, TensorFlow, and Triton makes it easier for developers to leverage AMD’s AI solutions effectively.Finally, AMD has experienced growth in the embedded segment driven by various industries, including industrial, healthcare, automotive, and broadcast. Therefore, the company’s adaptive computing product portfolio, including the Versal Premium VP1902 adaptive SoC and Spartan UltraScale+ FPGA family, addresses the specific requirements of these industries.","news_type":1},"isVote":1,"tweetType":1,"viewCount":103,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":221967272214624,"gmtCreate":1695218522500,"gmtModify":1695219847574,"author":{"id":"3575163037930744","authorId":"3575163037930744","name":"Gabbytham","avatar":"https://static.tigerbbs.com/a3740a030731d940acefe27e31c70ad5","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3575163037930744","authorIdStr":"3575163037930744"},"themes":[],"htmlText":"&nbsp;m r Yy &nbsp;","listText":"&nbsp;m r Yy &nbsp;","text":"m r Yy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/221967272214624","repostId":"2368901380","repostType":2,"repost":{"id":"2368901380","kind":"highlight","pubTimestamp":1695197400,"share":"https://ttm.financial/m/news/2368901380?lang=&edition=fundamental","pubTime":"2023-09-20 16:10","market":"us","language":"en","title":"Sea Limited: Easy To Sea","url":"https://stock-news.laohu8.com/highlight/detail?id=2368901380","media":"Seeking Alpha","summary":"Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has","content":"<html><head></head><body><ul style=\"\"><li><p>Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.</p></li><li><p>Over roughly the last century of American capitalism, the market has demonstrated an especial penchant for doing so to commerce platforms.</p></li><li><p>It did so to Walmart in 1973-74. It did so to Lowe&#39;s in the 1980s. It did so to Amazon in the 2000s. It did so to <a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> in 2008-2009.</p></li><li><p>And, today, once again, the market has curiously traded down one of the best commerce platforms on earth in something akin to a fevered, depressive panic.</p></li><li><p>Today, I will quantitatively demonstrate for you the irrationality behind this price action, and, in short, I believe Sea could prove to be a 10-bagger in the decade ahead.</p></li></ul><h2 id=\"id_2336691259\">It&#39;s Easy: Concisely Articulating The Sea Thesis</h2><ol start=\"1\" style=\"\"><li><p><em>Shopee remains the #1 ecommerce platform in SE Asia. It is the only profitable one. Lazada is the #2, and this is a Rocket Internet Startup that existed before Shopee but has since been surpassed by Shopee by a very long shot. Shopee is indisputably the best ecommerce platform in the region, and, again, it&#39;s the only profitable platform.</em></p></li><li><p><em>In the U.S., Walmart, Amazon, Target, Lowe&#39;s, Home Depot, Dollar General, grocery stores, and department stores have all co-existed and created trillions in equity value over the last 75 years.</em></p></li><li><p><em>In Latin America, MercadoLibre has co-existed with a host of rivals, including Amazon quite formidably in Latin America, and it has still done very well profitably. Notably, MercadoLibre only has 35% market share of total ecommerce GMV in Latin America, while Sea has 50% in SE Asia; yet there&#39;s no fevered panic over MercadoLibre&#39;s market share.</em></p></li><li><p><em>Sea has $7.7B in cash &amp; equivalents; $3.3B in convertible debt. This is a massive amount of resources with which it can further dominate the aforementioned unprofitable and historically stagnant/inferior competition. Sea also generates robust free cash flow quarterly now alongside its giant liquidity position on its balance sheet.</em></p></li><li><p><em>Sea owns Garena, which is now returning to growth. This is like Sea&#39;s AWS (AMZN) in a sense, giving it an advantage over rivals. Garena could also experience sales growth in the future, especially in light of Free Fire being unbanned in India recently. Garena produces about $1B in annualized cash flows for the conglomerate.</em></p></li><li><p><em>Sea has a FinTech business (Sea Money) with about 60M users on the platform. This alone could be worth $20B to $30B, and Sea currently trades at ~$18B in enterprise value (preposterous in my opinion). This is a rapidly growing, free cash flow generative business that provides core financial infrastructure to SE Asia&#39;s digital economy alongside a couple other rivals, including GoPay (GOTO) and OVO (GRAB).</em></p></li><li><p><em>SE Asia has a very, very long runway for growth demographically. The region is still in the very early innings of economic growth and development.</em></p></li><li><p><em>Sea has demonstrated an ability to successfully and organically (meaning without acquiring) build new products and scale them rapidly. While it&#39;s built three incredibly successful franchises over the last decade or so, i.e., Garena (500M+ users and highly profitable), Shopee (#1 ecom platform in SE Asia and only profitable one), and Sea Money (~60M users and profitable), it&#39;s highly likely that it creates new and compelling products in the future as well, adding to the 20-30% annualized growth I believe the conglomerate will achieve in the decade ahead, once we emerge from the current rate hiking cycle and Asian economic woes broadly, both of which have served to, on some level, halt the growth of SE Asia&#39;s tech sector momentarily.</em></p></li><li><p><em>Lastly, SE Asia&#39;s demographics are very favorable for sustained, elevated growth for Sea in the decades ahead (depicted below).</em></p></li><li><p><em>I believe a 10 bagger over the next 10 years will be seen as base case for the business.</em></p></li></ol><h3 id=\"id_1939531541\">SE Asia Ecommerce Has Plateaued But Will Resume Growth In The Future</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>We will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.</p><h3 id=\"id_1441051994\">SE Asia Has A Long Runway For Growth And Development Still Ahead</h3><p>I understand that the data below is from 2017, but it&#39;s worth noting the total digital consumer TAM, as well as the projections for ecommerce growth, validation of which we can see in the ecommerce GMV chart shared just above.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cd94f173610ebc3a5baba659a92725bd\" alt=\"Sea Ltd.&#39;s F-1\" title=\"Sea Ltd.&#39;s F-1\" tg-width=\"640\" tg-height=\"248\"/><span>Sea Ltd.&#39;s F-1</span></p><p>Over the last 5-7 years, Shopee&#39;s market share has grown within a rapidly growing ecommerce GMV TAM.</p><p>In a very worst case scenario, Shopee&#39;s market share may shrink, but, in light of the growth of SE Asia&#39;s ecommerce TAM, Shopee could very well continue to grow at elevated rates for decades to come.</p><h2 id=\"id_1212589788\">Understanding The Share Price Dynamics For Sea Ltd.</h2><p>I would say there&#39;s a number of approaches I could take to illustrate why Sea Ltd. (NYSE:SE) went from trading at $350/share to nearly $35/share as of today.</p><p>The same number of approaches could be taken in understanding why its retail predecessors, e.g., Walmart (WMT), Lowe&#39;s (LOW), or Amazon (AMZN), likewise experienced fairly stunning share price declines early in their lifecycles.</p><p>Today, I will share with you data that, in my estimation, definitively delineates why Sea and many of the former market darlings have experienced such breathtaking declines over the last 18 months or so.</p><p>Let&#39;s start with the underlying market mechanisms that are not idiosyncratic to Sea. These mechanisms that we will review have created the declines we&#39;ve seen from businesses like Tesla (TSLA), Affirm (AFRM), Meta (META) and Airbnb (ABNB) over the last 12 months.</p><p>I&#39;ve shared the following chart often, but it certainly bears re-sharing and repeating:</p><h4 id=\"id_2907407713\">The Prices Of Equities Overshoot To The Upside And Overshoot To The Downside</h4><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff6ac0b344710b22e1e69f1504babaa9\" alt=\"Truemind Capital\" title=\"Truemind Capital\" tg-width=\"640\" tg-height=\"380\"/><span>Truemind Capital</span></p><p>This chart is so ubiquitously shared and repeated on the internet for a reason:</p><p>It represents genuine reality of what you will experience in owning a given business/stock.</p><p>And we can see these precise dynamics playing out for Sea, as well as Adyen (OTCPK:ADYEY) and many, many other businesses in the market today.</p><h4 id=\"id_4285585971\">Roughly Depicting The True Intrinsic Value Of Sea Based On My Estimation Of The Growth Of Free Cash Flow Per Share</h4><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/57cbad23aa9bcf1dee4a0075f181ef3f\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"1280\" tg-height=\"802\"/><span>YCharts</span></p><h3 id=\"id_2734695393\">Roughly Depicting The True Intrinsic Value Of Adyen Based On My Estimation Of The Growth Of Free Cash Flow Per Share</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ad805058bef113f4d42f987c320000d3\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"1280\" tg-height=\"802\"/><span>YCharts</span></p><p>The charts align almost perfectly identically with the &#34;ubiquitously shared teaching chart,&#34; and this is no coincidence. This is perfectly how the market operates and prices equities.</p><p>&#34;As it was in the beginning, is now, and ever shall be, world without end. Amen.&#34;</p><p>The market&#39;s pricing of equities overshoots to the upside (too much exuberance) and overshoots to the downside (too much despair), and it has done this since the dawn of asset markets. The Great Warren Buffett has the market&#39;s behavior in this respect as the behavior of a &#34;drunken psycho,&#34; and we can certainly see and, for those that own Sea and Adyen, feel why.</p><h2 id=\"id_315136246\">Interest Rates &amp; Growth Rates</h2><p>To delve deeper into the underlying mechanisms driving the, as Mr. Buffett would call them, &#34;drunken, psychotic&#34; pricing dynamics of the market, we should consider how interest rates and individual company growth rates have impacted the valuations of Sea and Adyen.</p><p>When interest rates rise (i.e., the cost of credit in the economy rise), valuations decline, all else being equal (we will consider growth rates and their impact on valuations in a moment).</p><p>When interest rates decline (i.e., the cost of credit in the economy declines), valuations rise, all else being equal.</p><p>Below, we can see how a dramatic decline in interest rates created something akin to a &#34;zero gravity environment&#34; for the valuation of Sea (I will include Adyen as well to provide further context for this exercise).</p><h3 id=\"id_1263768699\">Sea&#39;s Valuation And The 10 Year Treasury Rate</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edff2244b3aafc5ec72705c59f7127d1\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>As interest rates have risen at the fastest rate in the history of America, the precise inverse has occurred:</p><p>Instead of a zero gravity environment for Sea, it has experienced 2x gravity for its valuation and correspondingly its stock price.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ae087bc5ec40ea0953db0befae07bd7b\" alt=\"Visual Capitalist\" title=\"Visual Capitalist\" tg-width=\"640\" tg-height=\"829\"/><span>Visual Capitalist</span></p><p>If we couple this dynamic with the natural tendency of humans in crowds to panic and flee (sell), thereby creating market crashes, we can better understand why Sea&#39;s share price has been in free fall, despite reporting a fantastic Q2, in which it generated very healthy free cash flow and GAAP net income, grew sales, remained the #1 and only profitable ecommerce platform in SE Asia, grew its profitable FinTech business, and stabilized/grew its gaming business&#39; users.</p><p>We will explore Sea&#39;s quarter in following sections, but it certainly is worth noting in this valuation exercise that Sea reported an objectively fantastic Q2 2023 earnings. It could not have done better in my eyes.</p><p>Turning to Adyen, we can see precisely the same valuation dynamics, precipitated by higher interest rates, playing out.</p><h3 id=\"id_963054273\">Adyen&#39;s Valuation And The 10 Year Treasury Rate</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79f77b27ef9ec2fd118b7e5d7e52147a\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>In addition to the &#34;next best alternative&#34; math associated with higher rates and valuations, meaning that with a higher risk free rate, I require more yield on my equity investment, which suggests I need a lower valuation to buy, higher interest rates slow economic and individual business growth.</p><p>Because we&#39;ve experienced the fastest rate hiking cycle in American history and because SE Asia reopened recently, after being locked down for years, ecommerce growth in SE Asia has been tepid relative to the last few years.</p><h3 id=\"id_3676535121\">SE Asia Ecommerce Has Plateaued But Will Resume Growth In The Future</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>We will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.</p><h2 id=\"id_3773151236\">Growth Rates &amp; Valuations</h2><p>On my recent podcast, I noted that the market should not have priced Sea at $350/share based on 150%+ growth because that growth was unsustainable.</p><p>That is, in the same way it was improper for the market to price Sea at $350/share based on unsustainably high growth of 150%+, it&#39;s now highly likely that it&#39;s improper for the market to price Sea at nearly $35/share based on unsustainably low growth of 5%.</p><p>I would ask the market, &#34;Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth? Might the fastest interest rate hiking cycle ever have something to do with slowing growth? Might the China recession have something to do with slowing growth?&#34;</p><h3 id=\"id_1177283835\">SE Asia Ecommerce Has Plateaued But Will Resume Growth In The Future</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>I mean this stuff is not rocket science.</p><h3 id=\"id_3584070374\">Sea Experienced Unsustainably High Growth And Now Unsustainably Low Growth</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/56be6b320f3dbb16ecb786f13c5a3af3\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>The reality for Sea is that its long term growth rate will land somewhere in the middle, and, as such, its intrinsic value is somewhere in the middle of these two utterly insane extremes.</p><p>Amazon experienced the identical valuation and growth dynamics in the early 2000s.</p><h3 id=\"id_2031746004\">Amazon Experienced Unsustainably High Growth And Unsustainably Low Growth (Bottoming At 13% in 2001)</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5d6f19fd84c68bae89d66eff83fe5074\" alt=\"YCharts\" title=\"YCharts\" tg-width=\"640\" tg-height=\"413\"/><span>YCharts</span></p><p>To assign data to the claim that growth will find itself somewhere in the middle, below, we can see that the growth of SE Asia&#39;s ecommerce market has plateaued. The growth dynamics presented below align virtually 1 to 1 with Sea&#39;s astronomical growth in 2020/2021 and rather depressed growth in 2022 and 2023.</p><h3 id=\"id_643515669\">SE Asia Ecommerce Sales Annually (Note The Deceleration &amp; Plateau)</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9bcbc6ec05e6a64a5fbf7f5c7307abc0\" alt=\"Statista\" title=\"Statista\" tg-width=\"640\" tg-height=\"343\"/><span>Statista</span></p><p>The above data answers my previously posed question,</p><blockquote><p><em>Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth?</em></p></blockquote><p>More than anything, this is why Sea has experienced such rapidly slowing growth in recent quarters and specifically in Q2 2023.</p><p>Eventually, SE Asia&#39;s ecommerce market and Sea will accelerate revenue growth, and the current panic will look highly misguided, just as pricing the business as if it would grow at 150% annualized for 10 years was highly misguided.</p><h2 id=\"id_2482640280\">Reviewing Sea&#39;s Q2 2023 &amp; The Business Broadly</h2><p>In our review of Monday&#39;s Q2 2023 earnings, I shared the four principle frameworks via which I select businesses to own.</p><p>I would certainly encourage you to read that review of Monday via the link below:</p><ul style=\"\"><li><p>Understanding Monday.com (MNDY)</p></li></ul><p>And, indeed, we&#39;ve employed one of those frameworks in ultimately deciding to own Sea Ltd. Specifically, we used the following framework:</p><ul style=\"\"><li><p><strong><em>Quality cultures that breed innovation within the larger conglomerate: </em></strong><em>We&#39;ve often explored the Spawner framework (I&#39;m working on a different name), which entails a company&#39;s ability to launch, or spawn, new successful business/product after new successful business/product, creating a nucleus of explosive, compounding sales growth. This is the idea that a business creates a culture in which its employees create new products successfully. With multiple products growing rapidly simultaneously, the business overall grows more rapidly and more durably. Some of my favorite examples that fit within this framework are Axon, Monday, Adyen , Sea, Tesla, Amazon, and MercadoLibre. Indeed, many of our businesses possess this incredible cultural structure, and that is why we&#39;ve chosen to own them.</em></p></li></ul><p>Sea began as a gaming studio/platform, i.e., Garena, which has produced the globally popular game Free Fire, from which Sea principally generates its ~$1B in cash flows annually.</p><h3 id=\"id_2202822765\">Sea&#39;s Garena Platform Key Performance Metrics</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/667df5a1ae563e13fe9b380297b5dafa\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"307\"/><span>Sea Q2 2023 Investor Presentation</span></p><p>After successfully building this gaming studio, Sea launched Shopee in 2015.</p><p>Notably, a major ecommerce platform already existed at the time: Lazada, a former Rocket Internet startup, into which Alibaba (BABA) has poured billions of dollars.</p><p>Despite Lazada having a head start, Shopee quickly surpassed Lazada and became the undisputed, most dominant ecommerce platform in SE Asia.</p><h3 id=\"id_3416636853\">SE Asia Ecommerce Market Share Data 2022</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/234387265478d7a3eacaadad43f102d3\" alt=\"Momentum.Asia\" title=\"Momentum.Asia\" tg-width=\"1280\" tg-height=\"720\"/><span>Momentum.Asia</span></p><p>Notably, Sea is the only profitable ecommerce platform in the region, which I believe demonstrates the differentiated nature of the business and the execution thereof.</p><blockquote><p><em>There are many different service points we can touch and also continue to improve. And there are also many cost points that we will continue to improve upon and these are the key competencies, I think that brought us here to the current position of strong market leadership with the lowest cost to serve a platform that allows us to be both market leader, </em><strong><em>but also profitable and one and only in Southeast Asia so far.</em></strong><em> I think we will not give up that competitive moat and we&#39;ll continue to strengthen that.</em></p><p>Yanjun Wang, Chief Corporate Officer, Q2 2023 Sea Earnings Call</p></blockquote><p>Notably, Shopee grew ecommerce orders <em>and </em>grew sales at healthy rates in the quarter.</p><h3 id=\"id_4141599611\">Shopee Grew At 28% Year Over Year, Which Is Exceptional</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b9afc577874ff61d7708c2fbc860f84b\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"317\"/><span>Sea Q2 2023 Investor Presentation</span></p><blockquote><p><em>Gross orders increased by more than 10% quarter-on-quarter as a result of growth in both active buyers and buyer purchase frequency.</em></p><p>[I do think it could be argued that Brazil contributed to this gross order growth, and Shopee&#39;s GMV/gross orders are something to monitor in the years ahead, but the current pricing of the business suggests ecommerce growth will halt in perpetuity, but it is illogical to believe the Shopee would suddenly stop growing when we consider the WMT/HD/COST/WMT analogy and the fact that Shopee has dominated for nearly a decade. It&#39;s the strongest it&#39;s ever been and its domination will likely persist.]</p></blockquote><p>Following the creation of Shopee, in order to enable SE Asian folks to pay via the internet, Sea launched Sea Money (formerly Airpay), which has grown into one of the largest FinTech platforms on earth, with ~60M users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8867ef7a958c7aed75ae501d59bcbd0b\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"319\"/><span>Sea Q2 2023 Investor Presentation</span></p><p>Notably, all of these business segments are now fundamentally profitable.</p><h3 id=\"id_3666375119\">EC = Ecommerce; DE = Garena; DFS = Sea Money</h3><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7d8b6255b1397c2f661bb8f8c6c0586a\" alt=\"Sea Q2 2023 Investor Presentation\" title=\"Sea Q2 2023 Investor Presentation\" tg-width=\"640\" tg-height=\"460\"/><span>Sea Q2 2023 Investor Presentation</span></p><p>Even accounting for interest, taxes, and depreciation and amortization, Sea generated robust free cash flow in Q2 2023.</p><p>Notably, <strong><em>Sea has done all of this in 10 years.</em></strong></p><p>In only 10 years, Sea has built three exceptionally dominant, platforms that nearly 700M to 1B total people use!</p><p>And these platforms serve these 700M to 1B people <em>profitably!</em></p><p>I mean how much logic and intuition does it require to foresee that Sea is just getting started?</p><p>I do not believe it requires much.</p><p>And I do believe Sea is just getting started, atop robust free cash flow, $7.7B in cash &amp; equivalents; $3.3B in convertible debt, and a very long runway for growth still ahead.</p><h2 id=\"id_1241524940\">Concluding Thoughts: The Skies Will Open Up And The Seas Will Part In Due Course</h2><p>I would invite you to review the &#34;10 Sea Commandments&#34; that I shared at the introduction of this note.</p><p>In my estimation, the investment is extremely easy at these levels.</p><p>I don&#39;t believe the price action is mysterious. We&#39;re experiencing identically what investors experienced in buying each of Sea&#39;s predecessors: Walmart, Amazon, and Lowe&#39;s when these businesses were similarly about 10-15 years old.</p><p>To conclude, Sea currently faces these economic headwinds. Notably, these headwinds will disappear in the years ahead:</p><ol start=\"1\" style=\"\"><li><p><em>The stoppage or cessation of growth for the SE Asian ecommerce market. It grew astronomically in 2020 and 2021 and even into 2022 as SE Asia took longer to remove lockdowns. It&#39;s now basically not growing, and Sea is not growing along with it.</em></p></li><li><p><em>Difficult year over year comps: It&#39;s very hard to grow at 100%+ annualized for multiple consecutive years, just like it&#39;s hard to sprint a 40 yard dash repeatedly. Sea will work through these difficult comps and resume elevated growth eventually.</em></p></li><li><p><em>The fastest rate hiking cycle in American history. The dollar, in many ways, governs growth of the global economic system by way of the dollar &#34;exporting&#34; U.S. monetary policy. The incredible strength of the dollar, created by the fastest interest rate hiking cycle in American history, has served to slow economic growth globally.</em></p></li><li><p><em>China is in a recession and has been. This could make economic conditions in Asia worse than they already are.</em></p></li></ol><p>Eventually, each of these negatives will dissipate, and the skies will open for Sea and the growth of its business.</p><p>I believe it could be an easy, profitable 10 bagger as of today over the next 10 years.</p><p>Thank you for reading, and have a great 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>Sea Limited: Easy To Sea</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\">\nSea Limited: Easy To Sea\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-09-20 16:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4635848-easy-to-sea><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has...</p>\n\n<a href=\"https://seekingalpha.com/article/4635848-easy-to-sea\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4083":"家庭装潢零售","LU0061474960.USD":"天利环球焦点基金AU Acc","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","BK4502":"阿里概念","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","BK4505":"高瓴资本持仓","BK4155":"大卖场与超市","LU0234572021.USD":"高盛美国核心股票组合Acc","BK4085":"互动家庭娱乐","BK4581":"高盛持仓","BK4504":"桥水持仓","LU0648000940.SGD":"Natixis Harris Associates Global Equity RA SGD","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU0821914370.USD":"贝莱德亚洲成长领袖A2","SE":"Sea Ltd","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4539":"次新股","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0648001328.SGD":"Natixis Harris Associates US Equity RA SGD","BK4532":"文艺复兴科技持仓","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","SG9999002620.SGD":"LionGlobal South East Asia SGD","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","BK4524":"宅经济概念","LU2430703095.HKD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (HKD) INC","BK4527":"明星科技股","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","LU0823411888.USD":"法巴消费创新基金 Cap","BK4526":"热门中概股","LU0082616367.USD":"摩根大通美国科技A（dist）","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC"},"source_url":"https://seekingalpha.com/article/4635848-easy-to-sea","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2368901380","content_text":"Approximately every decade or so, the market trades the best businesses to own long term down the most and in quite violent fashion.Over roughly the last century of American capitalism, the market has demonstrated an especial penchant for doing so to commerce platforms.It did so to Walmart in 1973-74. It did so to Lowe's in the 1980s. It did so to Amazon in the 2000s. It did so to MercadoLibre in 2008-2009.And, today, once again, the market has curiously traded down one of the best commerce platforms on earth in something akin to a fevered, depressive panic.Today, I will quantitatively demonstrate for you the irrationality behind this price action, and, in short, I believe Sea could prove to be a 10-bagger in the decade ahead.It's Easy: Concisely Articulating The Sea ThesisShopee remains the #1 ecommerce platform in SE Asia. It is the only profitable one. Lazada is the #2, and this is a Rocket Internet Startup that existed before Shopee but has since been surpassed by Shopee by a very long shot. Shopee is indisputably the best ecommerce platform in the region, and, again, it's the only profitable platform.In the U.S., Walmart, Amazon, Target, Lowe's, Home Depot, Dollar General, grocery stores, and department stores have all co-existed and created trillions in equity value over the last 75 years.In Latin America, MercadoLibre has co-existed with a host of rivals, including Amazon quite formidably in Latin America, and it has still done very well profitably. Notably, MercadoLibre only has 35% market share of total ecommerce GMV in Latin America, while Sea has 50% in SE Asia; yet there's no fevered panic over MercadoLibre's market share.Sea has $7.7B in cash & equivalents; $3.3B in convertible debt. This is a massive amount of resources with which it can further dominate the aforementioned unprofitable and historically stagnant/inferior competition. Sea also generates robust free cash flow quarterly now alongside its giant liquidity position on its balance sheet.Sea owns Garena, which is now returning to growth. This is like Sea's AWS (AMZN) in a sense, giving it an advantage over rivals. Garena could also experience sales growth in the future, especially in light of Free Fire being unbanned in India recently. Garena produces about $1B in annualized cash flows for the conglomerate.Sea has a FinTech business (Sea Money) with about 60M users on the platform. This alone could be worth $20B to $30B, and Sea currently trades at ~$18B in enterprise value (preposterous in my opinion). This is a rapidly growing, free cash flow generative business that provides core financial infrastructure to SE Asia's digital economy alongside a couple other rivals, including GoPay (GOTO) and OVO (GRAB).SE Asia has a very, very long runway for growth demographically. The region is still in the very early innings of economic growth and development.Sea has demonstrated an ability to successfully and organically (meaning without acquiring) build new products and scale them rapidly. While it's built three incredibly successful franchises over the last decade or so, i.e., Garena (500M+ users and highly profitable), Shopee (#1 ecom platform in SE Asia and only profitable one), and Sea Money (~60M users and profitable), it's highly likely that it creates new and compelling products in the future as well, adding to the 20-30% annualized growth I believe the conglomerate will achieve in the decade ahead, once we emerge from the current rate hiking cycle and Asian economic woes broadly, both of which have served to, on some level, halt the growth of SE Asia's tech sector momentarily.Lastly, SE Asia's demographics are very favorable for sustained, elevated growth for Sea in the decades ahead (depicted below).I believe a 10 bagger over the next 10 years will be seen as base case for the business.SE Asia Ecommerce Has Plateaued But Will Resume Growth In The FutureStatistaWe will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.SE Asia Has A Long Runway For Growth And Development Still AheadI understand that the data below is from 2017, but it's worth noting the total digital consumer TAM, as well as the projections for ecommerce growth, validation of which we can see in the ecommerce GMV chart shared just above.Sea Ltd.'s F-1Over the last 5-7 years, Shopee's market share has grown within a rapidly growing ecommerce GMV TAM.In a very worst case scenario, Shopee's market share may shrink, but, in light of the growth of SE Asia's ecommerce TAM, Shopee could very well continue to grow at elevated rates for decades to come.Understanding The Share Price Dynamics For Sea Ltd.I would say there's a number of approaches I could take to illustrate why Sea Ltd. (NYSE:SE) went from trading at $350/share to nearly $35/share as of today.The same number of approaches could be taken in understanding why its retail predecessors, e.g., Walmart (WMT), Lowe's (LOW), or Amazon (AMZN), likewise experienced fairly stunning share price declines early in their lifecycles.Today, I will share with you data that, in my estimation, definitively delineates why Sea and many of the former market darlings have experienced such breathtaking declines over the last 18 months or so.Let's start with the underlying market mechanisms that are not idiosyncratic to Sea. These mechanisms that we will review have created the declines we've seen from businesses like Tesla (TSLA), Affirm (AFRM), Meta (META) and Airbnb (ABNB) over the last 12 months.I've shared the following chart often, but it certainly bears re-sharing and repeating:The Prices Of Equities Overshoot To The Upside And Overshoot To The DownsideTruemind CapitalThis chart is so ubiquitously shared and repeated on the internet for a reason:It represents genuine reality of what you will experience in owning a given business/stock.And we can see these precise dynamics playing out for Sea, as well as Adyen (OTCPK:ADYEY) and many, many other businesses in the market today.Roughly Depicting The True Intrinsic Value Of Sea Based On My Estimation Of The Growth Of Free Cash Flow Per ShareYChartsRoughly Depicting The True Intrinsic Value Of Adyen Based On My Estimation Of The Growth Of Free Cash Flow Per ShareYChartsThe charts align almost perfectly identically with the \"ubiquitously shared teaching chart,\" and this is no coincidence. This is perfectly how the market operates and prices equities.\"As it was in the beginning, is now, and ever shall be, world without end. Amen.\"The market's pricing of equities overshoots to the upside (too much exuberance) and overshoots to the downside (too much despair), and it has done this since the dawn of asset markets. The Great Warren Buffett has the market's behavior in this respect as the behavior of a \"drunken psycho,\" and we can certainly see and, for those that own Sea and Adyen, feel why.Interest Rates & Growth RatesTo delve deeper into the underlying mechanisms driving the, as Mr. Buffett would call them, \"drunken, psychotic\" pricing dynamics of the market, we should consider how interest rates and individual company growth rates have impacted the valuations of Sea and Adyen.When interest rates rise (i.e., the cost of credit in the economy rise), valuations decline, all else being equal (we will consider growth rates and their impact on valuations in a moment).When interest rates decline (i.e., the cost of credit in the economy declines), valuations rise, all else being equal.Below, we can see how a dramatic decline in interest rates created something akin to a \"zero gravity environment\" for the valuation of Sea (I will include Adyen as well to provide further context for this exercise).Sea's Valuation And The 10 Year Treasury RateYChartsAs interest rates have risen at the fastest rate in the history of America, the precise inverse has occurred:Instead of a zero gravity environment for Sea, it has experienced 2x gravity for its valuation and correspondingly its stock price.Visual CapitalistIf we couple this dynamic with the natural tendency of humans in crowds to panic and flee (sell), thereby creating market crashes, we can better understand why Sea's share price has been in free fall, despite reporting a fantastic Q2, in which it generated very healthy free cash flow and GAAP net income, grew sales, remained the #1 and only profitable ecommerce platform in SE Asia, grew its profitable FinTech business, and stabilized/grew its gaming business' users.We will explore Sea's quarter in following sections, but it certainly is worth noting in this valuation exercise that Sea reported an objectively fantastic Q2 2023 earnings. It could not have done better in my eyes.Turning to Adyen, we can see precisely the same valuation dynamics, precipitated by higher interest rates, playing out.Adyen's Valuation And The 10 Year Treasury RateYChartsIn addition to the \"next best alternative\" math associated with higher rates and valuations, meaning that with a higher risk free rate, I require more yield on my equity investment, which suggests I need a lower valuation to buy, higher interest rates slow economic and individual business growth.Because we've experienced the fastest rate hiking cycle in American history and because SE Asia reopened recently, after being locked down for years, ecommerce growth in SE Asia has been tepid relative to the last few years.SE Asia Ecommerce Has Plateaued But Will Resume Growth In The FutureStatistaWe will discuss this last chart, which I believe to be central to the thesis (i.e., the slowing of SE Asian ecommerce is a near term headwind that will disappear in the future), later in this note.Growth Rates & ValuationsOn my recent podcast, I noted that the market should not have priced Sea at $350/share based on 150%+ growth because that growth was unsustainable.That is, in the same way it was improper for the market to price Sea at $350/share based on unsustainably high growth of 150%+, it's now highly likely that it's improper for the market to price Sea at nearly $35/share based on unsustainably low growth of 5%.I would ask the market, \"Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth? Might the fastest interest rate hiking cycle ever have something to do with slowing growth? Might the China recession have something to do with slowing growth?\"SE Asia Ecommerce Has Plateaued But Will Resume Growth In The FutureStatistaI mean this stuff is not rocket science.Sea Experienced Unsustainably High Growth And Now Unsustainably Low GrowthYChartsThe reality for Sea is that its long term growth rate will land somewhere in the middle, and, as such, its intrinsic value is somewhere in the middle of these two utterly insane extremes.Amazon experienced the identical valuation and growth dynamics in the early 2000s.Amazon Experienced Unsustainably High Growth And Unsustainably Low Growth (Bottoming At 13% in 2001)YChartsTo assign data to the claim that growth will find itself somewhere in the middle, below, we can see that the growth of SE Asia's ecommerce market has plateaued. The growth dynamics presented below align virtually 1 to 1 with Sea's astronomical growth in 2020/2021 and rather depressed growth in 2022 and 2023.SE Asia Ecommerce Sales Annually (Note The Deceleration & Plateau)StatistaThe above data answers my previously posed question,Do you think, perhaps, after hundreds of percent of ecommerce growth in the span of 24 months, there will be a receding of this demand? Might difficult year over year comps have something to do with the slowing growth?More than anything, this is why Sea has experienced such rapidly slowing growth in recent quarters and specifically in Q2 2023.Eventually, SE Asia's ecommerce market and Sea will accelerate revenue growth, and the current panic will look highly misguided, just as pricing the business as if it would grow at 150% annualized for 10 years was highly misguided.Reviewing Sea's Q2 2023 & The Business BroadlyIn our review of Monday's Q2 2023 earnings, I shared the four principle frameworks via which I select businesses to own.I would certainly encourage you to read that review of Monday via the link below:Understanding Monday.com (MNDY)And, indeed, we've employed one of those frameworks in ultimately deciding to own Sea Ltd. Specifically, we used the following framework:Quality cultures that breed innovation within the larger conglomerate: We've often explored the Spawner framework (I'm working on a different name), which entails a company's ability to launch, or spawn, new successful business/product after new successful business/product, creating a nucleus of explosive, compounding sales growth. This is the idea that a business creates a culture in which its employees create new products successfully. With multiple products growing rapidly simultaneously, the business overall grows more rapidly and more durably. Some of my favorite examples that fit within this framework are Axon, Monday, Adyen , Sea, Tesla, Amazon, and MercadoLibre. Indeed, many of our businesses possess this incredible cultural structure, and that is why we've chosen to own them.Sea began as a gaming studio/platform, i.e., Garena, which has produced the globally popular game Free Fire, from which Sea principally generates its ~$1B in cash flows annually.Sea's Garena Platform Key Performance MetricsSea Q2 2023 Investor PresentationAfter successfully building this gaming studio, Sea launched Shopee in 2015.Notably, a major ecommerce platform already existed at the time: Lazada, a former Rocket Internet startup, into which Alibaba (BABA) has poured billions of dollars.Despite Lazada having a head start, Shopee quickly surpassed Lazada and became the undisputed, most dominant ecommerce platform in SE Asia.SE Asia Ecommerce Market Share Data 2022Momentum.AsiaNotably, Sea is the only profitable ecommerce platform in the region, which I believe demonstrates the differentiated nature of the business and the execution thereof.There are many different service points we can touch and also continue to improve. And there are also many cost points that we will continue to improve upon and these are the key competencies, I think that brought us here to the current position of strong market leadership with the lowest cost to serve a platform that allows us to be both market leader, but also profitable and one and only in Southeast Asia so far. I think we will not give up that competitive moat and we'll continue to strengthen that.Yanjun Wang, Chief Corporate Officer, Q2 2023 Sea Earnings CallNotably, Shopee grew ecommerce orders and grew sales at healthy rates in the quarter.Shopee Grew At 28% Year Over Year, Which Is ExceptionalSea Q2 2023 Investor PresentationGross orders increased by more than 10% quarter-on-quarter as a result of growth in both active buyers and buyer purchase frequency.[I do think it could be argued that Brazil contributed to this gross order growth, and Shopee's GMV/gross orders are something to monitor in the years ahead, but the current pricing of the business suggests ecommerce growth will halt in perpetuity, but it is illogical to believe the Shopee would suddenly stop growing when we consider the WMT/HD/COST/WMT analogy and the fact that Shopee has dominated for nearly a decade. It's the strongest it's ever been and its domination will likely persist.]Following the creation of Shopee, in order to enable SE Asian folks to pay via the internet, Sea launched Sea Money (formerly Airpay), which has grown into one of the largest FinTech platforms on earth, with ~60M users.Sea Q2 2023 Investor PresentationNotably, all of these business segments are now fundamentally profitable.EC = Ecommerce; DE = Garena; DFS = Sea MoneySea Q2 2023 Investor PresentationEven accounting for interest, taxes, and depreciation and amortization, Sea generated robust free cash flow in Q2 2023.Notably, Sea has done all of this in 10 years.In only 10 years, Sea has built three exceptionally dominant, platforms that nearly 700M to 1B total people use!And these platforms serve these 700M to 1B people profitably!I mean how much logic and intuition does it require to foresee that Sea is just getting started?I do not believe it requires much.And I do believe Sea is just getting started, atop robust free cash flow, $7.7B in cash & equivalents; $3.3B in convertible debt, and a very long runway for growth still ahead.Concluding Thoughts: The Skies Will Open Up And The Seas Will Part In Due CourseI would invite you to review the \"10 Sea Commandments\" that I shared at the introduction of this note.In my estimation, the investment is extremely easy at these levels.I don't believe the price action is mysterious. We're experiencing identically what investors experienced in buying each of Sea's predecessors: Walmart, Amazon, and Lowe's when these businesses were similarly about 10-15 years old.To conclude, Sea currently faces these economic headwinds. Notably, these headwinds will disappear in the years ahead:The stoppage or cessation of growth for the SE Asian ecommerce market. It grew astronomically in 2020 and 2021 and even into 2022 as SE Asia took longer to remove lockdowns. It's now basically not growing, and Sea is not growing along with it.Difficult year over year comps: It's very hard to grow at 100%+ annualized for multiple consecutive years, just like it's hard to sprint a 40 yard dash repeatedly. Sea will work through these difficult comps and resume elevated growth eventually.The fastest rate hiking cycle in American history. The dollar, in many ways, governs growth of the global economic system by way of the dollar \"exporting\" U.S. monetary policy. The incredible strength of the dollar, created by the fastest interest rate hiking cycle in American history, has served to slow economic growth globally.China is in a recession and has been. This could make economic conditions in Asia worse than they already are.Eventually, each of these negatives will dissipate, and the skies will open for Sea and the growth of its business.I believe it could be an easy, profitable 10 bagger as of today over the next 10 years.Thank you for reading, and have a great day.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185111012999288,"gmtCreate":1686232526683,"gmtModify":1686234142272,"author":{"id":"3575163037930744","authorId":"3575163037930744","name":"Gabbytham","avatar":"https://static.tigerbbs.com/a3740a030731d940acefe27e31c70ad5","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3575163037930744","authorIdStr":"3575163037930744"},"themes":[],"htmlText":"Share your opinion about this news…","listText":"Share your opinion about this news…","text":"Share your opinion about this news…","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/185111012999288","repostId":"1177901277","repostType":2,"repost":{"id":"1177901277","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":1686232398,"share":"https://ttm.financial/m/news/1177901277?lang=&edition=fundamental","pubTime":"2023-06-08 21:53","market":"us","language":"en","title":"Hot Chinese ADRs Climb in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1177901277","media":"Tiger Newspress","summary":"Hot Chinese ADRs climbed in morning trading. Alibaba and Baidu rose 1%; Pinduoduo rose 3%; Bilibili ","content":"<html><head></head><body><p>Hot Chinese ADRs climbed in morning trading. Alibaba and Baidu rose 1%; Pinduoduo rose 3%; Bilibili rose 2%; Trip.com rose 4%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/26dc9b81d8894d85f3eeb24154cf6d17\" tg-width=\"405\" tg-height=\"724\"/></p><p></p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot Chinese ADRs Climb in Morning Trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHot Chinese ADRs Climb 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\">2023-06-08 21:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Hot Chinese ADRs climbed in morning trading. Alibaba and Baidu rose 1%; Pinduoduo rose 3%; Bilibili rose 2%; Trip.com rose 4%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/26dc9b81d8894d85f3eeb24154cf6d17\" tg-width=\"405\" tg-height=\"724\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","TCOM":"携程网","BIDU":"百度","BEKE":"贝壳","LI":"理想汽车","BABA":"阿里巴巴","PDD":"拼多多","BILI":"哔哩哔哩"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177901277","content_text":"Hot Chinese ADRs climbed in morning trading. Alibaba and Baidu rose 1%; Pinduoduo rose 3%; Bilibili rose 2%; Trip.com rose 4%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9943258204,"gmtCreate":1679502220608,"gmtModify":1679502634245,"author":{"id":"3575163037930744","authorId":"3575163037930744","name":"Gabbytham","avatar":"https://static.tigerbbs.com/a3740a030731d940acefe27e31c70ad5","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3575163037930744","authorIdStr":"3575163037930744"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FRC\">$First Republic Bank(FRC)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/FRC\">$First Republic Bank(FRC)$&nbsp;</a>","text":"$First Republic Bank(FRC)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943258204","isVote":1,"tweetType":1,"viewCount":213,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362325883,"gmtCreate":1614599820842,"gmtModify":1704772875802,"author":{"id":"3575163037930744","authorId":"3575163037930744","name":"Gabbytham","avatar":"https://static.tigerbbs.com/a3740a030731d940acefe27e31c70ad5","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3575163037930744","authorIdStr":"3575163037930744"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":113,"repostSize":0,"link":"https://ttm.financial/post/362325883","repostId":"2116581159","repostType":2,"repost":{"id":"2116581159","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":1614528564,"share":"https://ttm.financial/m/news/2116581159?lang=&edition=fundamental","pubTime":"2021-03-01 00:09","market":"us","language":"en","title":"Bitcoin falls 5.84% to $43,418","url":"https://stock-news.laohu8.com/highlight/detail?id=2116581159","media":"Reuters","summary":"Feb 28 (Reuters) - Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous","content":"<html><body><p>Feb 28 (Reuters) - Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous close. </p><p>   Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 25.6% from the year's high of $58,354.14 on Feb. 21. </p><p>   Bitcoin's price soared this year as major firms including BNY Mellon   , asset manager BlackRock Inc   , and credit card giant Mastercard Inc    backed cryptocurrencies, while others such as Tesla Inc    Square Inc    and MicroStrategy Inc    invested in bitcoin. </p><p>   Ether   , the coin linked to the ethereum blockchain network, dipped 9.59% to $1,319.12 on Sunday, losing $139.91 from its previous close.</p><p> (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Daniel Wallis)</p><p>((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S.  +918067492635;))</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>Bitcoin falls 5.84% to $43,418</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\">\nBitcoin falls 5.84% to $43,418\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-03-01 00:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>Feb 28 (Reuters) - Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous close. </p><p>   Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 25.6% from the year's high of $58,354.14 on Feb. 21. </p><p>   Bitcoin's price soared this year as major firms including BNY Mellon   , asset manager BlackRock Inc   , and credit card giant Mastercard Inc    backed cryptocurrencies, while others such as Tesla Inc    Square Inc    and MicroStrategy Inc    invested in bitcoin. </p><p>   Ether   , the coin linked to the ethereum blockchain network, dipped 9.59% to $1,319.12 on Sunday, losing $139.91 from its previous close.</p><p> (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Daniel Wallis)</p><p>((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S.  +918067492635;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LHDX":"Lucira Health, Inc.","MSTR":"MicroStrategy","CGEM":"Cullinan Therapeutics","TSLA":"特斯拉","BLK":"贝莱德","SQ":"Block","BK":"纽约梅隆银行","LABP":"Landos Biopharma, Inc.","SANA":"Sana Biotechnology, Inc.","APR":"Apria, Inc.","MA":"万事达"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2116581159","content_text":"Feb 28 (Reuters) - Bitcoin dropped 5.84% to $43,418.02 on Sunday, losing $2,691.96 from its previous close.    Bitcoin, the world's biggest and best-known cryptocurrency, has fallen 25.6% from the year's high of $58,354.14 on Feb. 21.    Bitcoin's price soared this year as major firms including BNY Mellon   , asset manager BlackRock Inc   , and credit card giant Mastercard Inc    backed cryptocurrencies, while others such as Tesla Inc    Square Inc    and MicroStrategy Inc    invested in bitcoin.    Ether   , the coin linked to the ethereum blockchain network, dipped 9.59% to $1,319.12 on Sunday, losing $139.91 from its previous close. (Reporting by Sabahatjahan Contractor in Bengaluru; Editing by Daniel Wallis)((Sabahatjahan.Contractor@thomsonreuters.com; within U.S. +1 646 223 8780 outside the U.S.  +918067492635;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":503,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}