Profile - To The Moon

Anonymously

Posts · 2Posts · 2
Following · 0Following · 0
Followers · 0Followers · 0

- AnonymouslyAnonymously
  ·2021-05-10
  Hi
  Nio Stock Still Has a Great Story and Valuation Issues
  A big pullback leaves NIO stock cheaper, but perhaps not cheap enough. There are two figures that h
  Nio Stock Still Has a Great Story and Valuation Issues
  247 1
  1
  Share
  Report
- AnonymouslyAnonymously
  ·2021-05-10
  Hi
  US government declares emergency after cyberattack on major pipeline
  The US government declared a regional emergency Sunday as the largest fuel pipeline system in the Un
  US government declares emergency after cyberattack on major pipeline
  86 Comment
  Like
  Share
  Report
No followers yet

Most Discussed

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"isCurrentUser":false,"userPageInfo":{"id":"3583723254185783","uuid":"3583723254185783","gmtCreate":1620629400886,"gmtModify":1620633792569,"name":"Anonymously","pinyin":"anonymously","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/5a4ee85ef8f809cc8ad443e9f4c1059e","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":0,"tweetSize":2,"questionSize":0,"limitLevel":999,"accountStatus":3,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[],"userBadgeCount":0,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":1,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":190502751,"gmtCreate":1620629820373,"gmtModify":1704345816847,"author":{"id":"3583723254185783","authorId":"3583723254185783","name":"Anonymously","avatar":"https://static.tigerbbs.com/5a4ee85ef8f809cc8ad443e9f4c1059e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583723254185783","authorIdStr":"3583723254185783"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/190502751","repostId":"1118550439","repostType":4,"repost":{"id":"1118550439","pubTimestamp":1620629134,"share":"https://ttm.financial/m/news/1118550439?lang=&edition=fundamental","pubTime":"2021-05-10 14:45","market":"us","language":"en","title":"Nio Stock Still Has a Great Story and Valuation Issues","url":"https://stock-news.laohu8.com/highlight/detail?id=1118550439","media":"InvestorPlace","summary":"A big pullback leaves NIO stock cheaper, but perhaps not cheap enough.\n\nThere are two figures that h","content":"<blockquote>\n <b>A big pullback leaves NIO stock cheaper, but perhaps not cheap enough.</b>\n</blockquote>\n<p>There are two figures that highlight the case for and against<b>Nio</b>(NYSE:<b><u>NIO</u></b>) stock.</p>\n<p>The bull case is strengthened by the fact that NIO stock has pulled back 43% from its January highs. Obviously, that fact alone doesn’t make the shares worth buying.</p>\n<p>The massive rally of electric-vehicle stocks that began in November clearly went too far. Nio benefited from optimism about the EV sector, roughly doubling over a nearly four-month stretch. A pullback of some kind probably was necessary.</p>\n<p>Still, Nio is much cheaper than it was. And it’s fair to point out that for more than a decade, sharp declines of quality growth stocks have almost always created buying opportunities. After posting impressive results over the past few quarters, NIO is starting to look like a quality growth stock.</p>\n<p>There’s another number worth noting, however: $61 billion. That’s the market capitalization of&nbsp; Nio even after its recent selloff. It’s an absolutely enormous number that’s not far below the combined market caps of<b>Ford Motor Company</b>(NYSE:<b><u>F</u></b>) and<b>Stellantis</b>(NYSE:<b><u>STLA</u></b>) (the latter company was created by the merger of<b>Fiat Chrysler</b>and Europe’s<b>PSA Group</b>). So the market capitalization of Nio stock might very well be excessive.</p>\n<p>A Look at Valuation</p>\n<p>NIO stock trades at almost 12 times analysts’ average 2021 revenue estimate.</p>\n<p>In this market, that multiple perhaps doesn’t sound all that high. But bear in mind that the stocks that are valued at 20 times their revenue almost without exception are tech firms. Software companies, for example, might have gross margins of 80% or higher.</p>\n<p>Nio hadgross margins of just 19.5%in the first quarter. And while that figure hasn’t necessarily peaked, the company’s management did say on its first-quarter earnings call that its gross margins would only rise to a limited extent in the near-term. Over the long-term, its gross margins will likely peak in the high-20s percentage levels in even a best-case scenario.</p>\n<p>Auto manufacturing — yes, even electric auto manufacturing — simply isn’t all that profitable. And yet the current Nio’s stock price still seems to price in an awful lot of success.</p>\n<p>Given the risks posed by the shares at this point, anyone owning NIO stock probably is looking for significant gains. Let’s use annualized returns of 12%, which over a decade would cause the stock to slightly more than triple.</p>\n<p>To meet that threshold, Nio in 2031 must have a market capitalization of $180 billion. That, in turn, probably requires net income of at least $4 billion in&nbsp; that year. Given the auto industry’s profit margins, Nio needs something like $35 billion of revenue to hit that figure. That’s in the range of1% market share worldwide, based on industry projections.</p>\n<p>The Case for NIO Stock</p>\n<p>Let’s be fair; Nio can get there. A 1% share of the global market is a bigger number than it sounds. But at the same time, China has roughly 18% of the world’s population. And a steadily growing portion of that population will be able to afford Nio’s vehicles, particularly if the company starts making cheaper EVs.</p>\n<p>And while a $180 billion market capitalization sounds enormous, EV companies are getting big valuations. Most notably,<b>Tesla</b>(NASDAQ:<b><u>TSLA</u></b>) is still valued at over $600 billion. Those who invested in that stock no doubt are expecting a valuation of at least $1 trillion by 2031.</p>\n<p>Finally, there’s one simple retort to Nio bears, even after the pullback of EV names over the past couple of months. Specifically, focusing on valuation alone has been a good way to miss out on big gains by growth stocks. Tesla, of course, is a perfect example.</p>\n<p>Personally, I’m sympathetic to the case for NIO stock at this point. The stock’s chart, which shows that the shares have been getting support around their current levels recently, suggests I’m not alone.</p>\n<p>Yet I can’t quite get bullish on Nio. China has a huge EV market, but it’s also massively competitive already, with Tesla,<b>XPeng</b>(NYSE:<b><u>XPEV</u></b>),<b>Li Auto</b>(NASDAQ:<b><u>LI</u></b>) and state-owned manufacturers looking to take their own pieces of the pie.</p>\n<p>And while the EV market will grow over time, China is further along than most of the world, as. 10% of its automobiles are already EVs, according to Nio.</p>\n<p>In that context, the pullback of Nio stock looks like a needed correction rather than an opportunity. But I’ll admit thatI’ve been wrongon NIO before. Reasonable investors can believe that I’m wrong again.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nio Stock Still Has a Great Story and Valuation Issues</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNio Stock Still Has a Great Story and Valuation Issues\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-10 14:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/05/nio-stock-great-story-valuation-questions/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A big pullback leaves NIO stock cheaper, but perhaps not cheap enough.\n\nThere are two figures that highlight the case for and againstNio(NYSE:NIO) stock.\nThe bull case is strengthened by the fact that...</p>\n\n<a href=\"https://investorplace.com/2021/05/nio-stock-great-story-valuation-questions/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://investorplace.com/2021/05/nio-stock-great-story-valuation-questions/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118550439","content_text":"A big pullback leaves NIO stock cheaper, but perhaps not cheap enough.\n\nThere are two figures that highlight the case for and againstNio(NYSE:NIO) stock.\nThe bull case is strengthened by the fact that NIO stock has pulled back 43% from its January highs. Obviously, that fact alone doesn’t make the shares worth buying.\nThe massive rally of electric-vehicle stocks that began in November clearly went too far. Nio benefited from optimism about the EV sector, roughly doubling over a nearly four-month stretch. A pullback of some kind probably was necessary.\nStill, Nio is much cheaper than it was. And it’s fair to point out that for more than a decade, sharp declines of quality growth stocks have almost always created buying opportunities. After posting impressive results over the past few quarters, NIO is starting to look like a quality growth stock.\nThere’s another number worth noting, however: $61 billion. That’s the market capitalization of  Nio even after its recent selloff. It’s an absolutely enormous number that’s not far below the combined market caps ofFord Motor Company(NYSE:F) andStellantis(NYSE:STLA) (the latter company was created by the merger ofFiat Chryslerand Europe’sPSA Group). So the market capitalization of Nio stock might very well be excessive.\nA Look at Valuation\nNIO stock trades at almost 12 times analysts’ average 2021 revenue estimate.\nIn this market, that multiple perhaps doesn’t sound all that high. But bear in mind that the stocks that are valued at 20 times their revenue almost without exception are tech firms. Software companies, for example, might have gross margins of 80% or higher.\nNio hadgross margins of just 19.5%in the first quarter. And while that figure hasn’t necessarily peaked, the company’s management did say on its first-quarter earnings call that its gross margins would only rise to a limited extent in the near-term. Over the long-term, its gross margins will likely peak in the high-20s percentage levels in even a best-case scenario.\nAuto manufacturing — yes, even electric auto manufacturing — simply isn’t all that profitable. And yet the current Nio’s stock price still seems to price in an awful lot of success.\nGiven the risks posed by the shares at this point, anyone owning NIO stock probably is looking for significant gains. Let’s use annualized returns of 12%, which over a decade would cause the stock to slightly more than triple.\nTo meet that threshold, Nio in 2031 must have a market capitalization of $180 billion. That, in turn, probably requires net income of at least $4 billion in  that year. Given the auto industry’s profit margins, Nio needs something like $35 billion of revenue to hit that figure. That’s in the range of1% market share worldwide, based on industry projections.\nThe Case for NIO Stock\nLet’s be fair; Nio can get there. A 1% share of the global market is a bigger number than it sounds. But at the same time, China has roughly 18% of the world’s population. And a steadily growing portion of that population will be able to afford Nio’s vehicles, particularly if the company starts making cheaper EVs.\nAnd while a $180 billion market capitalization sounds enormous, EV companies are getting big valuations. Most notably,Tesla(NASDAQ:TSLA) is still valued at over $600 billion. Those who invested in that stock no doubt are expecting a valuation of at least $1 trillion by 2031.\nFinally, there’s one simple retort to Nio bears, even after the pullback of EV names over the past couple of months. Specifically, focusing on valuation alone has been a good way to miss out on big gains by growth stocks. Tesla, of course, is a perfect example.\nPersonally, I’m sympathetic to the case for NIO stock at this point. The stock’s chart, which shows that the shares have been getting support around their current levels recently, suggests I’m not alone.\nYet I can’t quite get bullish on Nio. China has a huge EV market, but it’s also massively competitive already, with Tesla,XPeng(NYSE:XPEV),Li Auto(NASDAQ:LI) and state-owned manufacturers looking to take their own pieces of the pie.\nAnd while the EV market will grow over time, China is further along than most of the world, as. 10% of its automobiles are already EVs, according to Nio.\nIn that context, the pullback of Nio stock looks like a needed correction rather than an opportunity. But I’ll admit thatI’ve been wrongon NIO before. Reasonable investors can believe that I’m wrong again.","news_type":1},"isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190508768,"gmtCreate":1620629531154,"gmtModify":1704345814907,"author":{"id":"3583723254185783","authorId":"3583723254185783","name":"Anonymously","avatar":"https://static.tigerbbs.com/5a4ee85ef8f809cc8ad443e9f4c1059e","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3583723254185783","authorIdStr":"3583723254185783"},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/190508768","repostId":"1120120226","repostType":4,"repost":{"id":"1120120226","pubTimestamp":1620623863,"share":"https://ttm.financial/m/news/1120120226?lang=&edition=fundamental","pubTime":"2021-05-10 13:17","market":"us","language":"en","title":"US government declares emergency after cyberattack on major pipeline","url":"https://stock-news.laohu8.com/highlight/detail?id=1120120226","media":"AFP","summary":"The US government declared a regional emergency Sunday as the largest fuel pipeline system in the Un","content":"<p>The US government declared a regional emergency Sunday as the largest fuel pipeline system in the United States remained largely shut down, two days after a major ransomware attack was detected.</p><p>The Colonial Pipeline Company ships gasoline and jet fuel from the Gulf Coast of Texas to the populousEast Coastthrough 5,500 miles (8,850 kilometres) of pipeline, serving 50 million consumers.</p><p>The company said it was the victim of acybersecurity attackinvolving ransomware -- attacks that encrypt computer systems and seek to extract payments from operators.</p><p>\"This Declaration addresses the emergency conditions creating a need for immediate transportation of gasoline, diesel, jet fuel, and other refined petroleum products and provides necessary relief,\" the Department of Transportation said in a statement.</p><p>The emergency declaration allows for fuel to be transported by road to the affected states: Alabama, Arkansas, District of Columbia, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, New Jersey,New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.</p><p>The declaration also provides regulatory relief to commercial motor vehicle operations that are part of the emergency support efforts.</p><p>Colonial said earlier Sunday that it had opened some smaller delivery lines, but the main system was not yet back up and running.</p><p>\"While our mainlines remain offline, some smaller lateral lines between terminals and delivery points are now operational,\" Colonial said in a statement, adding it would \"bring our full system back online only when we believe it is safe to do so.\"</p><p>\"We have remained in contact with law enforcement and other federal agencies, including the Department of Energy who is leading the Federal Government response,\" it added.</p><p>\"Maintaining the operational security of our pipeline, in addition to safely bringing our systems back online, remain our highest priorities.\"</p><p><b>Calls for improved oversight</b></p><p>Commerce Secretary Gina Raimondo told CBS on Sunday that authorities were working to prevent any disruption to supplies.</p><p>Colonial, based in the southern state of Georgia, is the largest pipeline operator in the United States by volume, normally transporting 2.5 million barrels of gasoline, diesel fuel, jet fuel and other refined petroleum products per day.</p><p>The attack prompted calls from cybersecurity experts for improved oversight of the industry to prepare for future threats.</p><p>\"This attack is unusual for the US. But the bottom line is that attacks targeting operational technology -- the industrial control systems on the production line or plant floor -- are becoming more frequent,\" Algirde Pipikaite, cyber strategy lead at the World Economic Forum's Centre for Cybersecurity, told AFP on Saturday.</p><p>\"Unless cybersecurity measures are embedded in a technology's development phase, we are likely to see more frequent attacks on industrial systems like oil and gas pipelines or water treatment plants.\"</p><p>Gas prices jumped in the United States on Sunday following the ransomware attack. Analysts warn that prices could climb even higher if the pipeline is not reopened soon. Oil prices rose more than one percent Monday.</p><p>The United States was rocked in recent months by news of two major cybersecurity breaches -- the SolarWinds hack that compromised thousands of US government and private sector computer networks and was officially blamed on Russia; and a potentially devastating penetration of Microsoft email servers.</p>","source":"lsy1620623854247","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US government declares emergency after cyberattack on major pipeline</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS government declares emergency after cyberattack on major pipeline\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-10 13:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.france24.com/en/americas/20210510-biden-declares-state-of-emergency-after-major-us-pipeline-shut-due-to-cyber-attack><strong>AFP</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The US government declared a regional emergency Sunday as the largest fuel pipeline system in the United States remained largely shut down, two days after a major ransomware attack was detected.The ...</p>\n\n<a href=\"https://www.france24.com/en/americas/20210510-biden-declares-state-of-emergency-after-major-us-pipeline-shut-due-to-cyber-attack\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.france24.com/en/americas/20210510-biden-declares-state-of-emergency-after-major-us-pipeline-shut-due-to-cyber-attack","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120120226","content_text":"The US government declared a regional emergency Sunday as the largest fuel pipeline system in the United States remained largely shut down, two days after a major ransomware attack was detected.The Colonial Pipeline Company ships gasoline and jet fuel from the Gulf Coast of Texas to the populousEast Coastthrough 5,500 miles (8,850 kilometres) of pipeline, serving 50 million consumers.The company said it was the victim of acybersecurity attackinvolving ransomware -- attacks that encrypt computer systems and seek to extract payments from operators.\"This Declaration addresses the emergency conditions creating a need for immediate transportation of gasoline, diesel, jet fuel, and other refined petroleum products and provides necessary relief,\" the Department of Transportation said in a statement.The emergency declaration allows for fuel to be transported by road to the affected states: Alabama, Arkansas, District of Columbia, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, New Jersey,New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.The declaration also provides regulatory relief to commercial motor vehicle operations that are part of the emergency support efforts.Colonial said earlier Sunday that it had opened some smaller delivery lines, but the main system was not yet back up and running.\"While our mainlines remain offline, some smaller lateral lines between terminals and delivery points are now operational,\" Colonial said in a statement, adding it would \"bring our full system back online only when we believe it is safe to do so.\"\"We have remained in contact with law enforcement and other federal agencies, including the Department of Energy who is leading the Federal Government response,\" it added.\"Maintaining the operational security of our pipeline, in addition to safely bringing our systems back online, remain our highest priorities.\"Calls for improved oversightCommerce Secretary Gina Raimondo told CBS on Sunday that authorities were working to prevent any disruption to supplies.Colonial, based in the southern state of Georgia, is the largest pipeline operator in the United States by volume, normally transporting 2.5 million barrels of gasoline, diesel fuel, jet fuel and other refined petroleum products per day.The attack prompted calls from cybersecurity experts for improved oversight of the industry to prepare for future threats.\"This attack is unusual for the US. But the bottom line is that attacks targeting operational technology -- the industrial control systems on the production line or plant floor -- are becoming more frequent,\" Algirde Pipikaite, cyber strategy lead at the World Economic Forum's Centre for Cybersecurity, told AFP on Saturday.\"Unless cybersecurity measures are embedded in a technology's development phase, we are likely to see more frequent attacks on industrial systems like oil and gas pipelines or water treatment plants.\"Gas prices jumped in the United States on Sunday following the ransomware attack. Analysts warn that prices could climb even higher if the pipeline is not reopened soon. Oil prices rose more than one percent Monday.The United States was rocked in recent months by news of two major cybersecurity breaches -- the SolarWinds hack that compromised thousands of US government and private sector computer networks and was officially blamed on Russia; and a potentially devastating penetration of Microsoft email servers.","news_type":1},"isVote":1,"tweetType":1,"viewCount":86,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":true}