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vvb
2021-12-03
Worst company ever
After completing richest SPAC deal yet, Grab stock slumps on first day of trading
vvb
2021-04-16
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The deal raised $4.5 billion at a valuation of more than $37 billion, according to DealLogic, which reported that the funds raised and valuation were both records for a SPAC.</p>\n<p>The strong open gave Grab a market capitalization of about $51.6 billion, but as of 4 p.m. Eastern time, the stock was down more than 20% to $8.75.</p>\n<p>The Singapore-based company makes a \"superapp\" offering ride-hailing, delivery and financial services in more than 400 cities in Southeast Asia. Grab's chief financial officer, Peter Oey, said in an interview with MarketWatch on Thursday that the company had its \"roughest patch\" in the third quarter ended Sept. 30 because of COVID-19-related shutdowns in Southeast Asia, especially Vietnam. But he pointed to continued expected growth and recovery, even as the company watches what happens with the new coronavirus variant, omicron.</p>\n<p>\"Our mobility business has been rising as lockdowns have been relaxed,\" he said. \"Our payments business also continues to grow. We're seeing all strong signs.\"</p>\n<p>Oey also touted Grab's breadth and wide reach.</p>\n<p>\"Our superapp is so unique in Southeast Asia,\" he said. \"It's ride-hailing, food delivery, grocery delivery, last-mile delivery and a whole range of financial services products all in <a href=\"https://laohu8.com/S/AONE.U\">one</a> app.\" He said the app \"touches [consumers] in their everyday lives.\"</p>\n<p>Backers of Grab, which was founded in 2012, include Didi Global Inc. <a href=\"https://laohu8.com/S/DIDI\">$(DIDI)$</a>, Toyota Motor Corp. (7203.TO) and SoftBank Group Corp.'s Vision Fund.</p>\n<p>Grab's financial picture</p>\n<p>Grab, like other ride-hailing and delivery app makers, has lost a lot of money since its founding in 2012: It had accumulated losses of $11.9 billion as of June 2021, according to its prospectus.</p>\n<p>The company recently reported a third-quarter net loss of $988 million, an increase of $366 million year over year. Grab said its revenue fell 9% year over year to $157 million, citing COVID-19-related lockdowns in Vietnam between July and September that affected its ride-hailing, or mobility, business. It also said the number of its monthly users was down 8% year over year because those lockdowns resulted in suspensions of both its ride-hailing and food-delivery businesses in Vietnam.</p>\n<p>However, the company touted a record $4 billion in gross merchandise value for the quarter, a 32% year-over-year increase, and said year-over-year gross billings rose 41% to $616 million, also a record high.</p>\n<p>Risk factors</p>\n<p>Besides Vietnam, Grab serves customers in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. Oey described a \"huge opportunity\" with a total addressable market of $180 billion in the company's core products of ride-hailing, delivery and payments.</p>\n<p>The company competes with other platforms as well as restaurants and stores that have their own delivery services. It bought Uber Technologies Inc.'s <a href=\"https://laohu8.com/S/UBER\">$(UBER)$</a> business in Southeast Asia in 2018, but its noncompete agreement with Uber expires in March 2023, or one year after Uber disposes of its entire stake in Grab, whichever is later. Another possible rival is Didi, which could enter the market after its noncompete with Grab expires.</p>\n<p>Like other gig companies, Grab considers its workers independent contractors. In its prospectus, the company mentions that governments in Southeast Asia have shown \"growing interest\" in the classification of Grab's drivers and delivery workers because of related developments elsewhere in the world. In the U.S. and Europe, governments and courts have battled gig companies over the worker-classification issue.</p>\n<p>Oey said there's a \"different backdrop in Southeast Asia\" when it comes to the issue, pointing to the region's many \"informal workers.\" He said that for nearly 50% of Grab's 5 million registered drivers, \"this is their first ability to earn something and make a decent living.\"</p>\n<p>\"For a lot of them, it's their first bank account,\" he added. \"A lot of them, it's their first access to steady employment.\"</p>\n<p>As for coronavirus-related risk, vaccination rates in Asia vary and, like what happened with the full shutdown in Vietnam over the summer, could materially affect Grab's businesses.</p>","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>After completing richest SPAC deal yet, Grab stock slumps on first day of 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\">\nAfter completing richest SPAC deal yet, Grab stock slumps on first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-12-03 07:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Southeast Asia 'superapp' company tops $50 billion market cap in early trades, but then falls more than 20% lower after record fundraise and valuation for a SPAC deal</p>\n<p>After completing the richest deal yet for a special-purpose acquisition company, <a href=\"https://laohu8.com/S/GRAB\">Grab Holdings</a> Ltd. shares experienced an initial pop Thursday, their first day of trading in the U.S., but then slumped to a decline of more than 20%.</p>\n<p>Shares of Grab (GRAB) opened on the Nasdaq at $13.06, up about 19% from Wednesday, when it was trading as the <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> Group, the SPAC that took it public. The deal raised $4.5 billion at a valuation of more than $37 billion, according to DealLogic, which reported that the funds raised and valuation were both records for a SPAC.</p>\n<p>The strong open gave Grab a market capitalization of about $51.6 billion, but as of 4 p.m. Eastern time, the stock was down more than 20% to $8.75.</p>\n<p>The Singapore-based company makes a \"superapp\" offering ride-hailing, delivery and financial services in more than 400 cities in Southeast Asia. Grab's chief financial officer, Peter Oey, said in an interview with MarketWatch on Thursday that the company had its \"roughest patch\" in the third quarter ended Sept. 30 because of COVID-19-related shutdowns in Southeast Asia, especially Vietnam. But he pointed to continued expected growth and recovery, even as the company watches what happens with the new coronavirus variant, omicron.</p>\n<p>\"Our mobility business has been rising as lockdowns have been relaxed,\" he said. \"Our payments business also continues to grow. We're seeing all strong signs.\"</p>\n<p>Oey also touted Grab's breadth and wide reach.</p>\n<p>\"Our superapp is so unique in Southeast Asia,\" he said. \"It's ride-hailing, food delivery, grocery delivery, last-mile delivery and a whole range of financial services products all in <a href=\"https://laohu8.com/S/AONE.U\">one</a> app.\" He said the app \"touches [consumers] in their everyday lives.\"</p>\n<p>Backers of Grab, which was founded in 2012, include Didi Global Inc. <a href=\"https://laohu8.com/S/DIDI\">$(DIDI)$</a>, Toyota Motor Corp. (7203.TO) and SoftBank Group Corp.'s Vision Fund.</p>\n<p>Grab's financial picture</p>\n<p>Grab, like other ride-hailing and delivery app makers, has lost a lot of money since its founding in 2012: It had accumulated losses of $11.9 billion as of June 2021, according to its prospectus.</p>\n<p>The company recently reported a third-quarter net loss of $988 million, an increase of $366 million year over year. Grab said its revenue fell 9% year over year to $157 million, citing COVID-19-related lockdowns in Vietnam between July and September that affected its ride-hailing, or mobility, business. It also said the number of its monthly users was down 8% year over year because those lockdowns resulted in suspensions of both its ride-hailing and food-delivery businesses in Vietnam.</p>\n<p>However, the company touted a record $4 billion in gross merchandise value for the quarter, a 32% year-over-year increase, and said year-over-year gross billings rose 41% to $616 million, also a record high.</p>\n<p>Risk factors</p>\n<p>Besides Vietnam, Grab serves customers in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. Oey described a \"huge opportunity\" with a total addressable market of $180 billion in the company's core products of ride-hailing, delivery and payments.</p>\n<p>The company competes with other platforms as well as restaurants and stores that have their own delivery services. It bought Uber Technologies Inc.'s <a href=\"https://laohu8.com/S/UBER\">$(UBER)$</a> business in Southeast Asia in 2018, but its noncompete agreement with Uber expires in March 2023, or one year after Uber disposes of its entire stake in Grab, whichever is later. Another possible rival is Didi, which could enter the market after its noncompete with Grab expires.</p>\n<p>Like other gig companies, Grab considers its workers independent contractors. In its prospectus, the company mentions that governments in Southeast Asia have shown \"growing interest\" in the classification of Grab's drivers and delivery workers because of related developments elsewhere in the world. In the U.S. and Europe, governments and courts have battled gig companies over the worker-classification issue.</p>\n<p>Oey said there's a \"different backdrop in Southeast Asia\" when it comes to the issue, pointing to the region's many \"informal workers.\" He said that for nearly 50% of Grab's 5 million registered drivers, \"this is their first ability to earn something and make a decent living.\"</p>\n<p>\"For a lot of them, it's their first bank account,\" he added. \"A lot of them, it's their first access to steady employment.\"</p>\n<p>As for coronavirus-related risk, vaccination rates in Asia vary and, like what happened with the full shutdown in Vietnam over the summer, could materially affect Grab's businesses.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2188951783","content_text":"Southeast Asia 'superapp' company tops $50 billion market cap in early trades, but then falls more than 20% lower after record fundraise and valuation for a SPAC deal\nAfter completing the richest deal yet for a special-purpose acquisition company, Grab Holdings Ltd. shares experienced an initial pop Thursday, their first day of trading in the U.S., but then slumped to a decline of more than 20%.\nShares of Grab (GRAB) opened on the Nasdaq at $13.06, up about 19% from Wednesday, when it was trading as the Altimeter Growth Group, the SPAC that took it public. The deal raised $4.5 billion at a valuation of more than $37 billion, according to DealLogic, which reported that the funds raised and valuation were both records for a SPAC.\nThe strong open gave Grab a market capitalization of about $51.6 billion, but as of 4 p.m. Eastern time, the stock was down more than 20% to $8.75.\nThe Singapore-based company makes a \"superapp\" offering ride-hailing, delivery and financial services in more than 400 cities in Southeast Asia. Grab's chief financial officer, Peter Oey, said in an interview with MarketWatch on Thursday that the company had its \"roughest patch\" in the third quarter ended Sept. 30 because of COVID-19-related shutdowns in Southeast Asia, especially Vietnam. But he pointed to continued expected growth and recovery, even as the company watches what happens with the new coronavirus variant, omicron.\n\"Our mobility business has been rising as lockdowns have been relaxed,\" he said. \"Our payments business also continues to grow. We're seeing all strong signs.\"\nOey also touted Grab's breadth and wide reach.\n\"Our superapp is so unique in Southeast Asia,\" he said. \"It's ride-hailing, food delivery, grocery delivery, last-mile delivery and a whole range of financial services products all in one app.\" He said the app \"touches [consumers] in their everyday lives.\"\nBackers of Grab, which was founded in 2012, include Didi Global Inc. $(DIDI)$, Toyota Motor Corp. (7203.TO) and SoftBank Group Corp.'s Vision Fund.\nGrab's financial picture\nGrab, like other ride-hailing and delivery app makers, has lost a lot of money since its founding in 2012: It had accumulated losses of $11.9 billion as of June 2021, according to its prospectus.\nThe company recently reported a third-quarter net loss of $988 million, an increase of $366 million year over year. Grab said its revenue fell 9% year over year to $157 million, citing COVID-19-related lockdowns in Vietnam between July and September that affected its ride-hailing, or mobility, business. It also said the number of its monthly users was down 8% year over year because those lockdowns resulted in suspensions of both its ride-hailing and food-delivery businesses in Vietnam.\nHowever, the company touted a record $4 billion in gross merchandise value for the quarter, a 32% year-over-year increase, and said year-over-year gross billings rose 41% to $616 million, also a record high.\nRisk factors\nBesides Vietnam, Grab serves customers in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. Oey described a \"huge opportunity\" with a total addressable market of $180 billion in the company's core products of ride-hailing, delivery and payments.\nThe company competes with other platforms as well as restaurants and stores that have their own delivery services. It bought Uber Technologies Inc.'s $(UBER)$ business in Southeast Asia in 2018, but its noncompete agreement with Uber expires in March 2023, or one year after Uber disposes of its entire stake in Grab, whichever is later. Another possible rival is Didi, which could enter the market after its noncompete with Grab expires.\nLike other gig companies, Grab considers its workers independent contractors. In its prospectus, the company mentions that governments in Southeast Asia have shown \"growing interest\" in the classification of Grab's drivers and delivery workers because of related developments elsewhere in the world. In the U.S. and Europe, governments and courts have battled gig companies over the worker-classification issue.\nOey said there's a \"different backdrop in Southeast Asia\" when it comes to the issue, pointing to the region's many \"informal workers.\" He said that for nearly 50% of Grab's 5 million registered drivers, \"this is their first ability to earn something and make a decent living.\"\n\"For a lot of them, it's their first bank account,\" he added. \"A lot of them, it's their first access to steady employment.\"\nAs for coronavirus-related risk, vaccination rates in Asia vary and, like what happened with the full shutdown in Vietnam over the summer, could materially affect Grab's businesses.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":347406727,"gmtCreate":1618507467369,"gmtModify":1634292431432,"author":{"id":"3574845285354353","authorId":"3574845285354353","name":"vvb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574845285354353","authorIdStr":"3574845285354353"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347406727","repostId":"1181372898","repostType":4,"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":601134568,"gmtCreate":1638496973568,"gmtModify":1638497155688,"author":{"id":"3574845285354353","authorId":"3574845285354353","name":"vvb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574845285354353","authorIdStr":"3574845285354353"},"themes":[],"htmlText":"Worst company ever","listText":"Worst company ever","text":"Worst company ever","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601134568","repostId":"2188951783","repostType":2,"repost":{"id":"2188951783","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1638487440,"share":"https://www.laohu8.com/m/news/2188951783?lang=&edition=full","pubTime":"2021-12-03 07:24","market":"us","language":"en","title":"After completing richest SPAC deal yet, Grab stock slumps on first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=2188951783","media":"Dow Jones","summary":"Southeast Asia 'superapp' company tops $50 billion market cap in early trades, but then falls more t","content":"<p>Southeast Asia 'superapp' company tops $50 billion market cap in early trades, but then falls more than 20% lower after record fundraise and valuation for a SPAC deal</p>\n<p>After completing the richest deal yet for a special-purpose acquisition company, <a href=\"https://laohu8.com/S/GRAB\">Grab Holdings</a> Ltd. shares experienced an initial pop Thursday, their first day of trading in the U.S., but then slumped to a decline of more than 20%.</p>\n<p>Shares of Grab (GRAB) opened on the Nasdaq at $13.06, up about 19% from Wednesday, when it was trading as the <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> Group, the SPAC that took it public. The deal raised $4.5 billion at a valuation of more than $37 billion, according to DealLogic, which reported that the funds raised and valuation were both records for a SPAC.</p>\n<p>The strong open gave Grab a market capitalization of about $51.6 billion, but as of 4 p.m. Eastern time, the stock was down more than 20% to $8.75.</p>\n<p>The Singapore-based company makes a \"superapp\" offering ride-hailing, delivery and financial services in more than 400 cities in Southeast Asia. Grab's chief financial officer, Peter Oey, said in an interview with MarketWatch on Thursday that the company had its \"roughest patch\" in the third quarter ended Sept. 30 because of COVID-19-related shutdowns in Southeast Asia, especially Vietnam. But he pointed to continued expected growth and recovery, even as the company watches what happens with the new coronavirus variant, omicron.</p>\n<p>\"Our mobility business has been rising as lockdowns have been relaxed,\" he said. \"Our payments business also continues to grow. We're seeing all strong signs.\"</p>\n<p>Oey also touted Grab's breadth and wide reach.</p>\n<p>\"Our superapp is so unique in Southeast Asia,\" he said. \"It's ride-hailing, food delivery, grocery delivery, last-mile delivery and a whole range of financial services products all in <a href=\"https://laohu8.com/S/AONE.U\">one</a> app.\" He said the app \"touches [consumers] in their everyday lives.\"</p>\n<p>Backers of Grab, which was founded in 2012, include Didi Global Inc. <a href=\"https://laohu8.com/S/DIDI\">$(DIDI)$</a>, Toyota Motor Corp. (7203.TO) and SoftBank Group Corp.'s Vision Fund.</p>\n<p>Grab's financial picture</p>\n<p>Grab, like other ride-hailing and delivery app makers, has lost a lot of money since its founding in 2012: It had accumulated losses of $11.9 billion as of June 2021, according to its prospectus.</p>\n<p>The company recently reported a third-quarter net loss of $988 million, an increase of $366 million year over year. Grab said its revenue fell 9% year over year to $157 million, citing COVID-19-related lockdowns in Vietnam between July and September that affected its ride-hailing, or mobility, business. It also said the number of its monthly users was down 8% year over year because those lockdowns resulted in suspensions of both its ride-hailing and food-delivery businesses in Vietnam.</p>\n<p>However, the company touted a record $4 billion in gross merchandise value for the quarter, a 32% year-over-year increase, and said year-over-year gross billings rose 41% to $616 million, also a record high.</p>\n<p>Risk factors</p>\n<p>Besides Vietnam, Grab serves customers in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. Oey described a \"huge opportunity\" with a total addressable market of $180 billion in the company's core products of ride-hailing, delivery and payments.</p>\n<p>The company competes with other platforms as well as restaurants and stores that have their own delivery services. It bought Uber Technologies Inc.'s <a href=\"https://laohu8.com/S/UBER\">$(UBER)$</a> business in Southeast Asia in 2018, but its noncompete agreement with Uber expires in March 2023, or one year after Uber disposes of its entire stake in Grab, whichever is later. Another possible rival is Didi, which could enter the market after its noncompete with Grab expires.</p>\n<p>Like other gig companies, Grab considers its workers independent contractors. In its prospectus, the company mentions that governments in Southeast Asia have shown \"growing interest\" in the classification of Grab's drivers and delivery workers because of related developments elsewhere in the world. In the U.S. and Europe, governments and courts have battled gig companies over the worker-classification issue.</p>\n<p>Oey said there's a \"different backdrop in Southeast Asia\" when it comes to the issue, pointing to the region's many \"informal workers.\" He said that for nearly 50% of Grab's 5 million registered drivers, \"this is their first ability to earn something and make a decent living.\"</p>\n<p>\"For a lot of them, it's their first bank account,\" he added. \"A lot of them, it's their first access to steady employment.\"</p>\n<p>As for coronavirus-related risk, vaccination rates in Asia vary and, like what happened with the full shutdown in Vietnam over the summer, could materially affect Grab's businesses.</p>","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>After completing richest SPAC deal yet, Grab stock slumps on first day of 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\">\nAfter completing richest SPAC deal yet, Grab stock slumps on first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-12-03 07:24</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Southeast Asia 'superapp' company tops $50 billion market cap in early trades, but then falls more than 20% lower after record fundraise and valuation for a SPAC deal</p>\n<p>After completing the richest deal yet for a special-purpose acquisition company, <a href=\"https://laohu8.com/S/GRAB\">Grab Holdings</a> Ltd. shares experienced an initial pop Thursday, their first day of trading in the U.S., but then slumped to a decline of more than 20%.</p>\n<p>Shares of Grab (GRAB) opened on the Nasdaq at $13.06, up about 19% from Wednesday, when it was trading as the <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> Group, the SPAC that took it public. The deal raised $4.5 billion at a valuation of more than $37 billion, according to DealLogic, which reported that the funds raised and valuation were both records for a SPAC.</p>\n<p>The strong open gave Grab a market capitalization of about $51.6 billion, but as of 4 p.m. Eastern time, the stock was down more than 20% to $8.75.</p>\n<p>The Singapore-based company makes a \"superapp\" offering ride-hailing, delivery and financial services in more than 400 cities in Southeast Asia. Grab's chief financial officer, Peter Oey, said in an interview with MarketWatch on Thursday that the company had its \"roughest patch\" in the third quarter ended Sept. 30 because of COVID-19-related shutdowns in Southeast Asia, especially Vietnam. But he pointed to continued expected growth and recovery, even as the company watches what happens with the new coronavirus variant, omicron.</p>\n<p>\"Our mobility business has been rising as lockdowns have been relaxed,\" he said. \"Our payments business also continues to grow. We're seeing all strong signs.\"</p>\n<p>Oey also touted Grab's breadth and wide reach.</p>\n<p>\"Our superapp is so unique in Southeast Asia,\" he said. \"It's ride-hailing, food delivery, grocery delivery, last-mile delivery and a whole range of financial services products all in <a href=\"https://laohu8.com/S/AONE.U\">one</a> app.\" He said the app \"touches [consumers] in their everyday lives.\"</p>\n<p>Backers of Grab, which was founded in 2012, include Didi Global Inc. <a href=\"https://laohu8.com/S/DIDI\">$(DIDI)$</a>, Toyota Motor Corp. (7203.TO) and SoftBank Group Corp.'s Vision Fund.</p>\n<p>Grab's financial picture</p>\n<p>Grab, like other ride-hailing and delivery app makers, has lost a lot of money since its founding in 2012: It had accumulated losses of $11.9 billion as of June 2021, according to its prospectus.</p>\n<p>The company recently reported a third-quarter net loss of $988 million, an increase of $366 million year over year. Grab said its revenue fell 9% year over year to $157 million, citing COVID-19-related lockdowns in Vietnam between July and September that affected its ride-hailing, or mobility, business. It also said the number of its monthly users was down 8% year over year because those lockdowns resulted in suspensions of both its ride-hailing and food-delivery businesses in Vietnam.</p>\n<p>However, the company touted a record $4 billion in gross merchandise value for the quarter, a 32% year-over-year increase, and said year-over-year gross billings rose 41% to $616 million, also a record high.</p>\n<p>Risk factors</p>\n<p>Besides Vietnam, Grab serves customers in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. Oey described a \"huge opportunity\" with a total addressable market of $180 billion in the company's core products of ride-hailing, delivery and payments.</p>\n<p>The company competes with other platforms as well as restaurants and stores that have their own delivery services. It bought Uber Technologies Inc.'s <a href=\"https://laohu8.com/S/UBER\">$(UBER)$</a> business in Southeast Asia in 2018, but its noncompete agreement with Uber expires in March 2023, or one year after Uber disposes of its entire stake in Grab, whichever is later. Another possible rival is Didi, which could enter the market after its noncompete with Grab expires.</p>\n<p>Like other gig companies, Grab considers its workers independent contractors. In its prospectus, the company mentions that governments in Southeast Asia have shown \"growing interest\" in the classification of Grab's drivers and delivery workers because of related developments elsewhere in the world. In the U.S. and Europe, governments and courts have battled gig companies over the worker-classification issue.</p>\n<p>Oey said there's a \"different backdrop in Southeast Asia\" when it comes to the issue, pointing to the region's many \"informal workers.\" He said that for nearly 50% of Grab's 5 million registered drivers, \"this is their first ability to earn something and make a decent living.\"</p>\n<p>\"For a lot of them, it's their first bank account,\" he added. \"A lot of them, it's their first access to steady employment.\"</p>\n<p>As for coronavirus-related risk, vaccination rates in Asia vary and, like what happened with the full shutdown in Vietnam over the summer, could materially affect Grab's businesses.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2188951783","content_text":"Southeast Asia 'superapp' company tops $50 billion market cap in early trades, but then falls more than 20% lower after record fundraise and valuation for a SPAC deal\nAfter completing the richest deal yet for a special-purpose acquisition company, Grab Holdings Ltd. shares experienced an initial pop Thursday, their first day of trading in the U.S., but then slumped to a decline of more than 20%.\nShares of Grab (GRAB) opened on the Nasdaq at $13.06, up about 19% from Wednesday, when it was trading as the Altimeter Growth Group, the SPAC that took it public. The deal raised $4.5 billion at a valuation of more than $37 billion, according to DealLogic, which reported that the funds raised and valuation were both records for a SPAC.\nThe strong open gave Grab a market capitalization of about $51.6 billion, but as of 4 p.m. Eastern time, the stock was down more than 20% to $8.75.\nThe Singapore-based company makes a \"superapp\" offering ride-hailing, delivery and financial services in more than 400 cities in Southeast Asia. Grab's chief financial officer, Peter Oey, said in an interview with MarketWatch on Thursday that the company had its \"roughest patch\" in the third quarter ended Sept. 30 because of COVID-19-related shutdowns in Southeast Asia, especially Vietnam. But he pointed to continued expected growth and recovery, even as the company watches what happens with the new coronavirus variant, omicron.\n\"Our mobility business has been rising as lockdowns have been relaxed,\" he said. \"Our payments business also continues to grow. We're seeing all strong signs.\"\nOey also touted Grab's breadth and wide reach.\n\"Our superapp is so unique in Southeast Asia,\" he said. \"It's ride-hailing, food delivery, grocery delivery, last-mile delivery and a whole range of financial services products all in one app.\" He said the app \"touches [consumers] in their everyday lives.\"\nBackers of Grab, which was founded in 2012, include Didi Global Inc. $(DIDI)$, Toyota Motor Corp. (7203.TO) and SoftBank Group Corp.'s Vision Fund.\nGrab's financial picture\nGrab, like other ride-hailing and delivery app makers, has lost a lot of money since its founding in 2012: It had accumulated losses of $11.9 billion as of June 2021, according to its prospectus.\nThe company recently reported a third-quarter net loss of $988 million, an increase of $366 million year over year. Grab said its revenue fell 9% year over year to $157 million, citing COVID-19-related lockdowns in Vietnam between July and September that affected its ride-hailing, or mobility, business. It also said the number of its monthly users was down 8% year over year because those lockdowns resulted in suspensions of both its ride-hailing and food-delivery businesses in Vietnam.\nHowever, the company touted a record $4 billion in gross merchandise value for the quarter, a 32% year-over-year increase, and said year-over-year gross billings rose 41% to $616 million, also a record high.\nRisk factors\nBesides Vietnam, Grab serves customers in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. Oey described a \"huge opportunity\" with a total addressable market of $180 billion in the company's core products of ride-hailing, delivery and payments.\nThe company competes with other platforms as well as restaurants and stores that have their own delivery services. It bought Uber Technologies Inc.'s $(UBER)$ business in Southeast Asia in 2018, but its noncompete agreement with Uber expires in March 2023, or one year after Uber disposes of its entire stake in Grab, whichever is later. Another possible rival is Didi, which could enter the market after its noncompete with Grab expires.\nLike other gig companies, Grab considers its workers independent contractors. In its prospectus, the company mentions that governments in Southeast Asia have shown \"growing interest\" in the classification of Grab's drivers and delivery workers because of related developments elsewhere in the world. In the U.S. and Europe, governments and courts have battled gig companies over the worker-classification issue.\nOey said there's a \"different backdrop in Southeast Asia\" when it comes to the issue, pointing to the region's many \"informal workers.\" He said that for nearly 50% of Grab's 5 million registered drivers, \"this is their first ability to earn something and make a decent living.\"\n\"For a lot of them, it's their first bank account,\" he added. \"A lot of them, it's their first access to steady employment.\"\nAs for coronavirus-related risk, vaccination rates in Asia vary and, like what happened with the full shutdown in Vietnam over the summer, could materially affect Grab's businesses.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":347406727,"gmtCreate":1618507467369,"gmtModify":1634292431432,"author":{"id":"3574845285354353","authorId":"3574845285354353","name":"vvb","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574845285354353","authorIdStr":"3574845285354353"},"themes":[],"htmlText":"Yes","listText":"Yes","text":"Yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347406727","repostId":"1181372898","repostType":4,"repost":{"id":"1181372898","kind":"news","pubTimestamp":1618501265,"share":"https://www.laohu8.com/m/news/1181372898?lang=&edition=full","pubTime":"2021-04-15 23:41","market":"us","language":"en","title":"Is Palantir Actually Overvalued?","url":"https://stock-news.laohu8.com/highlight/detail?id=1181372898","media":"seekingalpha","summary":"(April 15) Palantir fell nearlr 3% in Thursday morning trading.SummaryPalantir looks very expensive","content":"<p>(April 15) Palantir fell nearlr 3% in Thursday morning trading.</p><p><img src=\"https://static.tigerbbs.com/48094c753cf8466f8f6f524a7349fba1\" tg-width=\"658\" tg-height=\"395\"></p><p><b>Summary</b></p><ul><li>Palantir looks very expensive at first sight. But could that be justified?</li><li>The company looks a lot stronger than many other hyped-up growth stocks when it comes to margins, market positioning, etc.</li><li>We showcase ways to enter a position in Palantir at a more attractive price.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/534db15a589a6170b395a97ae7d469e8\" tg-width=\"768\" tg-height=\"418\" referrerpolicy=\"no-referrer\"><span>Photo by wildpixel/iStock via Getty Images</span></p><p><b>Article Thesis</b></p><p>Palantir (PLTR), at 150 times this year's expected earnings, looks very expensive. But when we take a closer look, the price might be justified, as Palantir has a compelling ultra-long-term growth outlook due to a strong position in an absolute growth market. Despite a seemingly very high valuation, Palantir's shares could be a solid long-term investment.</p><p><b>Palantir Is Not A Typical Stock I Like</b></p><p>In general, I am mostly focused on dividend-paying stocks that trade at reasonable or cheap valuations, with some \"growth at a reasonable price\" (GARP) added in. Stocks trading at 100 times forward earnings, or even higher than that, are not at all typical of what I like to write about, and what I personally invest in. I have been quite critical of many stocks that trade at what I believe are too-high valuations. Nevertheless, I see Palantir as a stock that has a lot of potential in the long run, and that seems worthy of consideration, despite a seemingly very high valuation.</p><p>The reasoning for why I like Palantir, despite it trading at a quite high valuation, rests on three main pillars:</p><p><b>1. Palantir is active in an absolute growth market that will grow for decades</b></p><p>Big data, data analysis, and artificial intelligence are not short-term trends that will play out in a couple of years, but rather megatrends that will most likely become ever more important. 20 years from now, 30 years from now, and likely even farther in the future, big data and artificial intelligence will still be growth markets.</p><p><b>2. Palantir has a very clear industry leadership position</b></p><p>Many hyped-up growth companies are active in a highly fought-over market, oftentimes there is no clear, large moat for first-movers and current market leaders. I believe that in Palantir's case, that is not true. The company has developed a wide range of products and offerings for customers that are very unique, and where competition is not looking like a major concern. On top of that, Palantir has established very strong connections with government agencies and the military, which will be hard to replicate for eventual competitors. This does, I believe, result in a high likelihood that Palantir will not only be the leading player in the near term, but that it will retain this position for a long time. I personally am not so sure about the future leadership position of other current hyped-up leaders, including Tesla (TSLA) in EVs, Beyond Meat (BYND) in plant-based meat alternatives, etc.</p><p><b>3. The industry Palantir is active in has great characteristics</b></p><p>Big data and artificial intelligence are not only absolute growth markets, they also, as part of the software/service tech industry, offer a range of highly compelling characteristics. First, the software industry has, on average, very high gross and operating margins. This is, at least partially, the result of relatively low proportional costs, as there is no expensive manufacturing infrastructure needed.High gross margins are one of the common traits shared by companies that are able to deliver strong long-term share price gains.</p><p>The software industry is also capital extensive, which means that free cash flows, on average, are relatively high. There is no need to build out a lot of expensive infrastructure such as manufacturing plants, which translates into attractive free cash generation that can be used for tuck-in acquisitions, debt reduction, etc.</p><p>Third, the software industry overall is not cyclical. As software is an essential part of our daily lives and of doing business, customers don't scale back their use of software during a recession or any other type of crisis. In Palantir's case, where government agencies are a major customer, resilience is even stronger. Compared to many other growth industries, including EVs, renewable energy, etc. these very attractive traits are very pronounced for software companies, including Palantir. As an example of the attractiveness of Palantir's business mode, let's look at its gross margins versus those of other hyped growth stocks:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bd5c147cb9babf998cfd35649f4cad22\" tg-width=\"635\" tg-height=\"470\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p>Clearly, Palantir is in a class of its own compared to Tesla, Beyond Meat, Peloton (PTON), or Canadian Solar (CSIQ) (as a stand-in for most solar and renewable stocks).</p><p><b>Palantir's Valuation - How High Is It?</b></p><p>Looking at current earnings per share estimates for this year, which stand at $0.16, Palantir is trading for around 150 times this year's earnings. That is, of course, an extremely high valuation in absolute terms.</p><p>However, it should be considered that Palantir is just beginning to generate positive net profits. Shortly after breaking even, net profits can't be expected to be very high yet. But due to two key reasons, Palantir's earnings should grow meaningfully in coming years. First, the nature of the market the company is active in will allow for strong revenue growth going forward. On top of that, thanks to the fact that Palantir generates very high gross margins, each additional dollar of revenue that the company generates in the future should help a lot in improving profitability. When a company like Palantir adds $1 billion in additional sales, that will do a lot more for its bottom line compared to most other companies, that won't see profits grow as much due to lower margins.</p><p>Analysts are thus, not surprisingly, forecasting strong earnings per share growth over the next two years:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f4a7db46186418a049678d1ecf17ff30\" tg-width=\"635\" tg-height=\"436\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p>Whereas Palantir trades for around 150 times this year's earnings, the stock trades for 118 times 2022's earnings, and for 97 times 2023's earnings. Those aren't low valuations at all, but it can make sense to look at how companies such as Netflix (NFLX) or Amazon (AMZN) were valued in their younger days.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8c82732cfdc04638279f1d9e77e9c1e4\" tg-width=\"635\" tg-height=\"419\" referrerpolicy=\"no-referrer\"><span>Data by YCharts</span></p><p>Not too long ago, these companies were trading for 200-300 times net profits, despite having reached a much larger size already. Palantir, with stronger gross margins and a smaller size, is not trading for 200 or even 300 times net earnings. Since we all know that buying Amazon or Netflix five years ago was a great decision, Palantir's current valuation may indeed not be unreasonable.</p><p>When we assume that current estimates for 2023's net earnings are correct, and that Palantir will be able to grow its earnings per share by 25% a year through the 2020s, then net earnings would total $1.23 in 2030. Put a 35 times earnings multiple on that, and shares would be valued at $43, which would lead to annual returns of ~6%.</p><p>A 35 times earnings multiple may be on the conservative side still - after all, even a giant such as Amazon is trading at 72 times earnings today. Palantir may also be able to grow its earnings per share at a higher pace than 25% a year during the 2020s. Lastly, Palantir may be way more profitable in 2023 compared to what analysts are forecasting right now (after all, the company has easily beaten estimates in the past), which would lead to higher EPS in 2030 as well, assuming an unchanged growth rate. In a more bullish scenario, where Palantir earns $0.30 in 2023, grows its EPS by 30% a year through 2030 and trades at 40 times net earnings in 2030, the stock could be worth $75 nine years from now, delivering 200% in that scenario. I'm not saying that this will happen - no one can know that right now. But I believe that, with reasonable assumptions, it can be argued that Palantir's shares may not be all that overpriced right now.</p><p><b>How To Get Into Palantir At A Lower Price</b></p><p>For those that like the company, but that deem shares a little too expensive, selling covered calls or cash-secured puts could be an interesting choice. Due to a high implied volatility, option premiums are quite high. If you buy 100 shares at $25 and sell a $30 call with expiry in June 2022 at $6.30, you effectively entered a position at $18.70, or a 25% discount to the current price. There is a risk of shares getting called away, but even in that scenario, one would still generate a return of 45% ($36.30/$25) in 14 months, which would not at all be unattractive.</p><p>Similarly, entering a position via cash-secured puts (e.g. Jan 2022 puts with a strike price selling for$3.00right now) could be a way to get a sizeable discount versus the current share price.</p><p><b>Takeaway</b></p><p>At first sight, Palantir looks quite expensive, trading for around 150 times net earnings. But when we take a closer look, the above-average quality, strong growth outlook, and great market position, Palantir may well be worth its current price. I see it as one of the most favorable among the hyped-up growth stocks - which I see as overvalued in most cases - and believe that investors who buy Palantir's shares right here may very well do fine in the long run. I still believe that utilizing option strategies to enter a position at a lower effective price could be a good idea though, as this is highly rewarding thanks to very high option premiums.</p><p>Palantir looks quite expensive but unlike many other hyped-up names, it could be worth its current valuation, I believe. I believe that the stock is interesting for very long-term oriented investors that want to see Palantir's potential play out over the next decades.</p>","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>Is Palantir Actually Overvalued?</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\">\nIs Palantir Actually Overvalued?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-15 23:41 GMT+8 <a href=https://seekingalpha.com/article/4419080-is-palantir-actually-overvalued><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(April 15) Palantir fell nearlr 3% in Thursday morning trading.SummaryPalantir looks very expensive at first sight. But could that be justified?The company looks a lot stronger than many other hyped-...</p>\n\n<a href=\"https://seekingalpha.com/article/4419080-is-palantir-actually-overvalued\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4419080-is-palantir-actually-overvalued","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1181372898","content_text":"(April 15) Palantir fell nearlr 3% in Thursday morning trading.SummaryPalantir looks very expensive at first sight. But could that be justified?The company looks a lot stronger than many other hyped-up growth stocks when it comes to margins, market positioning, etc.We showcase ways to enter a position in Palantir at a more attractive price.Photo by wildpixel/iStock via Getty ImagesArticle ThesisPalantir (PLTR), at 150 times this year's expected earnings, looks very expensive. But when we take a closer look, the price might be justified, as Palantir has a compelling ultra-long-term growth outlook due to a strong position in an absolute growth market. Despite a seemingly very high valuation, Palantir's shares could be a solid long-term investment.Palantir Is Not A Typical Stock I LikeIn general, I am mostly focused on dividend-paying stocks that trade at reasonable or cheap valuations, with some \"growth at a reasonable price\" (GARP) added in. Stocks trading at 100 times forward earnings, or even higher than that, are not at all typical of what I like to write about, and what I personally invest in. I have been quite critical of many stocks that trade at what I believe are too-high valuations. Nevertheless, I see Palantir as a stock that has a lot of potential in the long run, and that seems worthy of consideration, despite a seemingly very high valuation.The reasoning for why I like Palantir, despite it trading at a quite high valuation, rests on three main pillars:1. Palantir is active in an absolute growth market that will grow for decadesBig data, data analysis, and artificial intelligence are not short-term trends that will play out in a couple of years, but rather megatrends that will most likely become ever more important. 20 years from now, 30 years from now, and likely even farther in the future, big data and artificial intelligence will still be growth markets.2. Palantir has a very clear industry leadership positionMany hyped-up growth companies are active in a highly fought-over market, oftentimes there is no clear, large moat for first-movers and current market leaders. I believe that in Palantir's case, that is not true. The company has developed a wide range of products and offerings for customers that are very unique, and where competition is not looking like a major concern. On top of that, Palantir has established very strong connections with government agencies and the military, which will be hard to replicate for eventual competitors. This does, I believe, result in a high likelihood that Palantir will not only be the leading player in the near term, but that it will retain this position for a long time. I personally am not so sure about the future leadership position of other current hyped-up leaders, including Tesla (TSLA) in EVs, Beyond Meat (BYND) in plant-based meat alternatives, etc.3. The industry Palantir is active in has great characteristicsBig data and artificial intelligence are not only absolute growth markets, they also, as part of the software/service tech industry, offer a range of highly compelling characteristics. First, the software industry has, on average, very high gross and operating margins. This is, at least partially, the result of relatively low proportional costs, as there is no expensive manufacturing infrastructure needed.High gross margins are one of the common traits shared by companies that are able to deliver strong long-term share price gains.The software industry is also capital extensive, which means that free cash flows, on average, are relatively high. There is no need to build out a lot of expensive infrastructure such as manufacturing plants, which translates into attractive free cash generation that can be used for tuck-in acquisitions, debt reduction, etc.Third, the software industry overall is not cyclical. As software is an essential part of our daily lives and of doing business, customers don't scale back their use of software during a recession or any other type of crisis. In Palantir's case, where government agencies are a major customer, resilience is even stronger. Compared to many other growth industries, including EVs, renewable energy, etc. these very attractive traits are very pronounced for software companies, including Palantir. As an example of the attractiveness of Palantir's business mode, let's look at its gross margins versus those of other hyped growth stocks:Data by YChartsClearly, Palantir is in a class of its own compared to Tesla, Beyond Meat, Peloton (PTON), or Canadian Solar (CSIQ) (as a stand-in for most solar and renewable stocks).Palantir's Valuation - How High Is It?Looking at current earnings per share estimates for this year, which stand at $0.16, Palantir is trading for around 150 times this year's earnings. That is, of course, an extremely high valuation in absolute terms.However, it should be considered that Palantir is just beginning to generate positive net profits. Shortly after breaking even, net profits can't be expected to be very high yet. But due to two key reasons, Palantir's earnings should grow meaningfully in coming years. First, the nature of the market the company is active in will allow for strong revenue growth going forward. On top of that, thanks to the fact that Palantir generates very high gross margins, each additional dollar of revenue that the company generates in the future should help a lot in improving profitability. When a company like Palantir adds $1 billion in additional sales, that will do a lot more for its bottom line compared to most other companies, that won't see profits grow as much due to lower margins.Analysts are thus, not surprisingly, forecasting strong earnings per share growth over the next two years:Data by YChartsWhereas Palantir trades for around 150 times this year's earnings, the stock trades for 118 times 2022's earnings, and for 97 times 2023's earnings. Those aren't low valuations at all, but it can make sense to look at how companies such as Netflix (NFLX) or Amazon (AMZN) were valued in their younger days.Data by YChartsNot too long ago, these companies were trading for 200-300 times net profits, despite having reached a much larger size already. Palantir, with stronger gross margins and a smaller size, is not trading for 200 or even 300 times net earnings. Since we all know that buying Amazon or Netflix five years ago was a great decision, Palantir's current valuation may indeed not be unreasonable.When we assume that current estimates for 2023's net earnings are correct, and that Palantir will be able to grow its earnings per share by 25% a year through the 2020s, then net earnings would total $1.23 in 2030. Put a 35 times earnings multiple on that, and shares would be valued at $43, which would lead to annual returns of ~6%.A 35 times earnings multiple may be on the conservative side still - after all, even a giant such as Amazon is trading at 72 times earnings today. Palantir may also be able to grow its earnings per share at a higher pace than 25% a year during the 2020s. Lastly, Palantir may be way more profitable in 2023 compared to what analysts are forecasting right now (after all, the company has easily beaten estimates in the past), which would lead to higher EPS in 2030 as well, assuming an unchanged growth rate. In a more bullish scenario, where Palantir earns $0.30 in 2023, grows its EPS by 30% a year through 2030 and trades at 40 times net earnings in 2030, the stock could be worth $75 nine years from now, delivering 200% in that scenario. I'm not saying that this will happen - no one can know that right now. But I believe that, with reasonable assumptions, it can be argued that Palantir's shares may not be all that overpriced right now.How To Get Into Palantir At A Lower PriceFor those that like the company, but that deem shares a little too expensive, selling covered calls or cash-secured puts could be an interesting choice. Due to a high implied volatility, option premiums are quite high. If you buy 100 shares at $25 and sell a $30 call with expiry in June 2022 at $6.30, you effectively entered a position at $18.70, or a 25% discount to the current price. There is a risk of shares getting called away, but even in that scenario, one would still generate a return of 45% ($36.30/$25) in 14 months, which would not at all be unattractive.Similarly, entering a position via cash-secured puts (e.g. Jan 2022 puts with a strike price selling for$3.00right now) could be a way to get a sizeable discount versus the current share price.TakeawayAt first sight, Palantir looks quite expensive, trading for around 150 times net earnings. But when we take a closer look, the above-average quality, strong growth outlook, and great market position, Palantir may well be worth its current price. I see it as one of the most favorable among the hyped-up growth stocks - which I see as overvalued in most cases - and believe that investors who buy Palantir's shares right here may very well do fine in the long run. I still believe that utilizing option strategies to enter a position at a lower effective price could be a good idea though, as this is highly rewarding thanks to very high option premiums.Palantir looks quite expensive but unlike many other hyped-up names, it could be worth its current valuation, I believe. I believe that the stock is interesting for very long-term oriented investors that want to see Palantir's potential play out over the next decades.","news_type":1},"isVote":1,"tweetType":1,"viewCount":219,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
