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2021-10-27

Buy can earn profit

Sea: Don't Be Caught Holding The Hot Potato

2021-04-02

Patience has paid off for those who has bought S&P[龇牙]

How Likely Is a Stock Market Crash?

2021-04-02

Tax will increase in US[流泪]

These semiconductor stocks might benefit the most from Biden’s spending plan

2021-03-30

Buy dun wait to regret

Tesla and Toyota reportedly considering a SUV partnership

2021-03-30

Can buy

抱歉，原内容已删除

2021-03-30

[财迷]

抱歉，原内容已删除

2021-03-30

Just take the vaccines

One dose of Pfizer or Moderna vaccines was 80% effective in preventing Covid in CDC study of health workers

2021-03-30

Just wait

Elon Musk says Tesla Semi will be hard to scale until next year

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can earn profit","listText":"Buy can earn profit","text":"Buy can earn profit","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/855833018","repostId":"1186134889","repostType":2,"repost":{"id":"1186134889","kind":"news","pubTimestamp":1635145020,"share":"https://www.laohu8.com/m/news/1186134889?lang=&edition=full","pubTime":"2021-10-25 14:57","market":"us","language":"en","title":"Sea: Don't Be Caught Holding The Hot Potato","url":"https://stock-news.laohu8.com/highlight/detail?id=1186134889","media":"Seeking Alpha","summary":"Summary\n\nShares of Sea have nearly doubled this year, as the Southeast Asian internet giant continue","content":"<p><b>Summary</b></p>\n<ul>\n <li>Shares of Sea have nearly doubled this year, as the Southeast Asian internet giant continues to grow in gaming and e-commerce.</li>\n <li>Sea didn't suffer a massive slowdown in gaming in the post-pandemic period as expected.</li>\n <li>E-commerce GMV continues to explode, though losses are also multiplying.</li>\n <li>Sea recently announced a massive capital raise, which highlights the company's losses.</li>\n <li>Valuation remains the key limiting factor for Sea, with the stock trading at ~14x forward revenue.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66e280d822cebfb8966ad498a141862e\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>DeanDrobot/iStock via Getty Images</span></p>\n<p>It's tough to stake out a contrarian negative stance against Sea (SE), but I retain my conviction that this Southeast Asian internet conglomerate has run up far too quickly, at least relative to its fundamentals. Few pandemic investments have been as fortuitous as Sea. Prior to the pandemic, this little-known Singaporean internet stock was trading at just $50 per share. Now, as the pandemic has \"activated\" growth in each of Sea's three key segments: online gaming, e-commerce, and online payments - shares of Sea sit above $350, having risen ~7x since the start of the pandemic and nearly ~2x year to date through 2021.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da4abad91139d60d01f334013aa4c8c4\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>Everyone loves a winner, especially in this year's stock market. But given overall market jitters and a recent September/October correction in growth stocks, we have to ask:<b>does Sea really have upside left?</b></p>\n<p>I continue to retain my&nbsp;<b>neutral</b>&nbsp;opinion on Sea. I do see the appeal: yeah, major market has an internet e-commerce king (Amazon (AMZN) in the U.S., Alibaba (BABA) in China), and Southeast Asia's most likely winner is Sea. I don't doubt that this stock will continue to be a heavyweight five years down the line. But I'm looking at the next 1-2 year timeframe, and I think the stock has already gotten ahead of itself and won't be able to meaningfully outperform in the short term.</p>\n<p>Let's look at valuation; at current share prices near $355, Sea trades at a market cap of $196.2 billion, already making it a mega-cap that exceeds the size of many of the Dow 30 components. After netting off the $5.89 billion of cash and $1.28 billion of convertible debt on Sea's most recent balance sheet, the company's resulting&nbsp;<b>enterprise value is $191.59 billion.</b>For FY22, Wall Street analysts are expecting Sea to generate $13.54 billion in revenue, representing 49% y/y growth. Against this revenue expectation, Sea trades at a stark&nbsp;<b>14.1x EV/FY22 revenue multiple.</b>As a reminder, Sea's consolidated gross margin stands at only ~40%, and about half of this revenue comes from e-commerce, which carries only a ~15% margin. How much higher can Sea go? It's clear that Sea's stock price advance and its valuation have been decoupled.</p>\n<p>Fundamentally, I am impressed by Sea's continued growth in gaming, which has extended further beyond the pandemic than I initially expected (hence why I'm neutral and not bearish on the stock). At the same time, I hesitate to believe that ~$200 billion is an appropriate valuation for a company that is not profitable and hasn't shown a meaningful trajectory to getting there, as adjusted EBITDA losses continue to mount. A recent capital raise, too, may indicate that this will be Sea's pattern for a while: growth at all costs. That mindset worked for investors in 2020 and 2021; but will it stand firm if overall market sentiment continues to sour in 2022?</p>\n<p>In my opinion, the best move here is to remain on the sidelines.</p>\n<p><b>Gaming remains sturdy</b></p>\n<p>One of the biggest upside surprises that Sea delivered in its most recent quarter was strength in gaming. In the gaming sector (and this goes beyond just Sea itself), the biggest fear was that the post-pandemic period, which saw a return to schools and offices, would sap gaming time and paid user counts this fall.</p>\n<p>If this is to happen, though, it hasn't happened yet. After a Q1 in which Sea's quarterly active user adds slowed to ~38 million, Sea added&nbsp;<b>76 million net-new QAUs</b>&nbsp;in Q2, roughly matching the pace of the prior two quarters combined. Quarterly paid users, meanwhile, grew at 85% y/y to 92.2 million, with paid users representing a record 13% of Sea's total QAUs.</p>\n<p>Figure 1. Sea gaming user counts</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/10ec6773a8f9c4c7506cdce3ade0fc60\" tg-width=\"640\" tg-height=\"326\" width=\"100%\" height=\"auto\"><span>Source: Sea Q2 earnings presentation</span></p>\n<p>The paid user ratio is up three points from 10% in the year-ago Q2, and has been rising steadily. Therein lies a big catalyst for investor enthusiasm in this stock, and one that I don't disagree with: Sea already has a large captive audience, and it has also proven adept at content curation and producing its own games (Free Fire, which was developed in-house, remains the company's biggest hit). As paid user ratios rise, Sea may be able to capture more and more revenue from this 700+ million-strong user base.</p>\n<p>Here's some useful anecdotal commentary from Sea CEO Forrest Li on gamer engagement, made during his prepared remarks on the&nbsp;Q2 earnings call:</p>\n<blockquote>\n Free Fire delivered excellent results during the quarter, setting multiple new records. Building on its strong performance across global markets, the game recently exceeded 1 billion cumulative downloads on Google Play. We believe Free Fire is the first ever mobile battle royale game to achieve this milestone.\n</blockquote>\n<blockquote>\n It was ranked third globally by average monthly active users on Google Play in the second quarter, according to App Annie. Furthermore, Free Fire’s peak daily active users hit more than 150 million during the quarter. This is a new record for us, and we believe that few online games globally have ever reached this scale.\n</blockquote>\n<blockquote>\n Meanwhile, Free Fire continued to be the highest grossing mobile game in Southeast Asia, Latin America and India in the second quarter, according to App Annie. The game has now retained its leadership in Southeast Asia and Latin America for eight straight quarters, and in India for three straight quarters. We have also gained traction in certain developed markets like the U.S. where the game was ranked the highest grossing mobile battle royale game for the past two quarters based on App Annie. Free Fire was the second highest grossing mobile game in the U.S. on Google Play across all game categories in the second quarter as well.\"\n</blockquote>\n<p>We'll have to see, however, what unknown pandemic impacts are baked into these numbers. For example, in Sea's home market of Singapore, schools&nbsp;shifted back to online education&nbsp;after COVID cases spiked this fall. Similar dynamics may be helping Sea's Q2 user counts, and investors may be shocked if growth decelerates down the road.</p>\n<p>Sea's digital entertainment bookings grew 65% y/y to $1.2 billion in Q2, but for the full year FY21, the company is guiding to only 45% y/y bookings growth, implying deceleration in the back half of the year.</p>\n<p><b>Losses and capital raise may raise eyebrows</b></p>\n<p>The continued worry we have for Sea, however, is this: when will investors finally be unable to look past the buildup of losses? I continue to emphasize that&nbsp;<b>Sea's gaming division is subsidizing its e-commerce division.</b>Investors are primarily long on Sea for the latter, but the latter cannot stand without the profits of the former.</p>\n<p>Figure 2. Sea adjusted EBITDA</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b54d900f9e355c4b49394fb46ead7af\" tg-width=\"640\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Sea Q2 earnings presentation</span></p>\n<p>The chart above tells us two things:</p>\n<ul>\n <li>Sea is not on a path to stabilization yet; the company had a -$24.1 million adjusted EBITDA loss in FY21 versus $7.7 million of profit on FY20.</li>\n <li>Gaming's ~$300 million y/y buildup of adjusted EBITDA gains was approximately exactly enough to cover a buildup of losses of the same magnitude in e-commerce and digital financial services.</li>\n</ul>\n<p>It's not all bad news for Sea: the company reported that two markets, Malaysia and Taiwan, have reported division-level EBITDA breakeven in the e-commerce segment. However, Sea's largest market of Indonesia continues to lag (and in this market, where Sea's competition versus the likes of Tokopedia is fierce, the company is chasing growth through offering deeply discounted products).</p>\n<p>GAAP losses are much wider than adjusted EBITDA; year-to-date through Q2, Sea has generated a GAAP loss of -$856.1 million, or a -21% net margin.</p>\n<p>We note as well that Sea&nbsp;recently did a \"mega financing\", selling $3.5 billion of new American Depository Shares and $2.5 billion in a new convertible bond. This buffering up of cash should be a signal to the markets that Sea is going to need more liquidity support outside of its operations for quite some time.</p>\n<p><b>Key takeaways</b></p>\n<p>I don't disagree that Sea remains on a growth tear, but I remain unenthused about the company's prospects. Large losses and a heavy valuation seem like quainter concepts in the 2021 bull market, but looking ahead to 2022 when most of Wall Street is calling for choppy trading ahead may not make growth stocks like Sea the best choice. Steer clear here.</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>Sea: Don't Be Caught Holding The Hot Potato</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\">\nSea: Don't Be Caught Holding The Hot Potato\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-25 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4461654-sea-dont-be-caught-holding-the-hot-potato><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nShares of Sea have nearly doubled this year, as the Southeast Asian internet giant continues to grow in gaming and e-commerce.\nSea didn't suffer a massive slowdown in gaming in the post-...</p>\n\n<a href=\"https://seekingalpha.com/article/4461654-sea-dont-be-caught-holding-the-hot-potato\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4461654-sea-dont-be-caught-holding-the-hot-potato","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186134889","content_text":"Summary\n\nShares of Sea have nearly doubled this year, as the Southeast Asian internet giant continues to grow in gaming and e-commerce.\nSea didn't suffer a massive slowdown in gaming in the post-pandemic period as expected.\nE-commerce GMV continues to explode, though losses are also multiplying.\nSea recently announced a massive capital raise, which highlights the company's losses.\nValuation remains the key limiting factor for Sea, with the stock trading at ~14x forward revenue.\n\nDeanDrobot/iStock via Getty Images\nIt's tough to stake out a contrarian negative stance against Sea (SE), but I retain my conviction that this Southeast Asian internet conglomerate has run up far too quickly, at least relative to its fundamentals. Few pandemic investments have been as fortuitous as Sea. Prior to the pandemic, this little-known Singaporean internet stock was trading at just $50 per share. Now, as the pandemic has \"activated\" growth in each of Sea's three key segments: online gaming, e-commerce, and online payments - shares of Sea sit above $350, having risen ~7x since the start of the pandemic and nearly ~2x year to date through 2021.\nData by YCharts\nEveryone loves a winner, especially in this year's stock market. But given overall market jitters and a recent September/October correction in growth stocks, we have to ask:does Sea really have upside left?\nI continue to retain my neutral opinion on Sea. I do see the appeal: yeah, major market has an internet e-commerce king (Amazon (AMZN) in the U.S., Alibaba (BABA) in China), and Southeast Asia's most likely winner is Sea. I don't doubt that this stock will continue to be a heavyweight five years down the line. But I'm looking at the next 1-2 year timeframe, and I think the stock has already gotten ahead of itself and won't be able to meaningfully outperform in the short term.\nLet's look at valuation; at current share prices near $355, Sea trades at a market cap of $196.2 billion, already making it a mega-cap that exceeds the size of many of the Dow 30 components. After netting off the $5.89 billion of cash and $1.28 billion of convertible debt on Sea's most recent balance sheet, the company's resulting enterprise value is $191.59 billion.For FY22, Wall Street analysts are expecting Sea to generate $13.54 billion in revenue, representing 49% y/y growth. Against this revenue expectation, Sea trades at a stark 14.1x EV/FY22 revenue multiple.As a reminder, Sea's consolidated gross margin stands at only ~40%, and about half of this revenue comes from e-commerce, which carries only a ~15% margin. How much higher can Sea go? It's clear that Sea's stock price advance and its valuation have been decoupled.\nFundamentally, I am impressed by Sea's continued growth in gaming, which has extended further beyond the pandemic than I initially expected (hence why I'm neutral and not bearish on the stock). At the same time, I hesitate to believe that ~$200 billion is an appropriate valuation for a company that is not profitable and hasn't shown a meaningful trajectory to getting there, as adjusted EBITDA losses continue to mount. A recent capital raise, too, may indicate that this will be Sea's pattern for a while: growth at all costs. That mindset worked for investors in 2020 and 2021; but will it stand firm if overall market sentiment continues to sour in 2022?\nIn my opinion, the best move here is to remain on the sidelines.\nGaming remains sturdy\nOne of the biggest upside surprises that Sea delivered in its most recent quarter was strength in gaming. In the gaming sector (and this goes beyond just Sea itself), the biggest fear was that the post-pandemic period, which saw a return to schools and offices, would sap gaming time and paid user counts this fall.\nIf this is to happen, though, it hasn't happened yet. After a Q1 in which Sea's quarterly active user adds slowed to ~38 million, Sea added 76 million net-new QAUs in Q2, roughly matching the pace of the prior two quarters combined. Quarterly paid users, meanwhile, grew at 85% y/y to 92.2 million, with paid users representing a record 13% of Sea's total QAUs.\nFigure 1. Sea gaming user counts\nSource: Sea Q2 earnings presentation\nThe paid user ratio is up three points from 10% in the year-ago Q2, and has been rising steadily. Therein lies a big catalyst for investor enthusiasm in this stock, and one that I don't disagree with: Sea already has a large captive audience, and it has also proven adept at content curation and producing its own games (Free Fire, which was developed in-house, remains the company's biggest hit). As paid user ratios rise, Sea may be able to capture more and more revenue from this 700+ million-strong user base.\nHere's some useful anecdotal commentary from Sea CEO Forrest Li on gamer engagement, made during his prepared remarks on the Q2 earnings call:\n\n Free Fire delivered excellent results during the quarter, setting multiple new records. Building on its strong performance across global markets, the game recently exceeded 1 billion cumulative downloads on Google Play. We believe Free Fire is the first ever mobile battle royale game to achieve this milestone.\n\n\n It was ranked third globally by average monthly active users on Google Play in the second quarter, according to App Annie. Furthermore, Free Fire’s peak daily active users hit more than 150 million during the quarter. This is a new record for us, and we believe that few online games globally have ever reached this scale.\n\n\n Meanwhile, Free Fire continued to be the highest grossing mobile game in Southeast Asia, Latin America and India in the second quarter, according to App Annie. The game has now retained its leadership in Southeast Asia and Latin America for eight straight quarters, and in India for three straight quarters. We have also gained traction in certain developed markets like the U.S. where the game was ranked the highest grossing mobile battle royale game for the past two quarters based on App Annie. Free Fire was the second highest grossing mobile game in the U.S. on Google Play across all game categories in the second quarter as well.\"\n\nWe'll have to see, however, what unknown pandemic impacts are baked into these numbers. For example, in Sea's home market of Singapore, schools shifted back to online education after COVID cases spiked this fall. Similar dynamics may be helping Sea's Q2 user counts, and investors may be shocked if growth decelerates down the road.\nSea's digital entertainment bookings grew 65% y/y to $1.2 billion in Q2, but for the full year FY21, the company is guiding to only 45% y/y bookings growth, implying deceleration in the back half of the year.\nLosses and capital raise may raise eyebrows\nThe continued worry we have for Sea, however, is this: when will investors finally be unable to look past the buildup of losses? I continue to emphasize that Sea's gaming division is subsidizing its e-commerce division.Investors are primarily long on Sea for the latter, but the latter cannot stand without the profits of the former.\nFigure 2. Sea adjusted EBITDA\nSource: Sea Q2 earnings presentation\nThe chart above tells us two things:\n\nSea is not on a path to stabilization yet; the company had a -$24.1 million adjusted EBITDA loss in FY21 versus $7.7 million of profit on FY20.\nGaming's ~$300 million y/y buildup of adjusted EBITDA gains was approximately exactly enough to cover a buildup of losses of the same magnitude in e-commerce and digital financial services.\n\nIt's not all bad news for Sea: the company reported that two markets, Malaysia and Taiwan, have reported division-level EBITDA breakeven in the e-commerce segment. However, Sea's largest market of Indonesia continues to lag (and in this market, where Sea's competition versus the likes of Tokopedia is fierce, the company is chasing growth through offering deeply discounted products).\nGAAP losses are much wider than adjusted EBITDA; year-to-date through Q2, Sea has generated a GAAP loss of -$856.1 million, or a -21% net margin.\nWe note as well that Sea recently did a \"mega financing\", selling $3.5 billion of new American Depository Shares and $2.5 billion in a new convertible bond. This buffering up of cash should be a signal to the markets that Sea is going to need more liquidity support outside of its operations for quite some time.\nKey takeaways\nI don't disagree that Sea remains on a growth tear, but I remain unenthused about the company's prospects. Large losses and a heavy valuation seem like quainter concepts in the 2021 bull market, but looking ahead to 2022 when most of Wall Street is calling for choppy trading ahead may not make growth stocks like Sea the best choice. Steer clear here.","news_type":1},"isVote":1,"tweetType":1,"viewCount":891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":340829097,"gmtCreate":1617374279719,"gmtModify":1634521189836,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Patience has paid off for those who has bought S&amp;P[龇牙]&nbsp;","listText":"Patience has paid off for those who has bought S&amp;P[龇牙]&nbsp;","text":"Patience has paid off for those who has bought S&P[龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/340829097","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","kind":"news","pubTimestamp":1617366158,"share":"https://www.laohu8.com/m/news/1191998262?lang=&edition=full","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</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>How Likely Is a Stock Market Crash?</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\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":761,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":340103427,"gmtCreate":1617348998069,"gmtModify":1634521284628,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Tax will increase in US[流泪]&nbsp;","listText":"Tax will increase in US[流泪]&nbsp;","text":"Tax will increase in US[流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/340103427","repostId":"1117428745","repostType":4,"repost":{"id":"1117428745","kind":"news","pubTimestamp":1617326984,"share":"https://www.laohu8.com/m/news/1117428745?lang=&edition=full","pubTime":"2021-04-02 09:29","market":"us","language":"en","title":"These semiconductor stocks might benefit the most from Biden’s spending plan","url":"https://stock-news.laohu8.com/highlight/detail?id=1117428745","media":"Market Wacth","summary":"The news about President Biden’s massive spending plans highlights infrastructure. But U.S. semicond","content":"<p>The news about President Biden’s massive spending plans highlights infrastructure. But U.S. semiconductor companies may see a big benefit, and stocks in the sector are already starting to perk up.</p><p>The iShares PHLX Semiconductor ETFSOXX,+3.68%was up 2.4% on March 31, with all 30 its components showing gains for the session. SOXX tracks the PHLX Semiconductor IndexSOX,+3.69%.Among the 30 stocks, 15 are down at least 10% from Feb. 16, when SOXX hit its all-time high.</p><p>Biden’s spending plan</p><p>In February, the Semiconductor Industry Association’s (SIA) board of directors, which includes CEOs or senior executives of Advanced Micro Devices Inc.AMD,+3.30%,Nvidia Corp.NVDA,+3.47%,Qualcomm Inc.QCOM,+3.92%,Intel Corp.INTC,+0.86%,Texas Instruments Inc.TXN,+1.62%and others, sent a letter to Biden.</p><p>They wrote that the U.S. market share of global computer chip manufacturing had “steadily declined” to 12% from 37% in 1990. The SIA board said the loss of market share was largely the result of significant government investment in the semiconductor industry in other countries, while there was none in the U.S. (You can read the entire letterhere.)</p><p>And now the president is trying to give the U.S. semiconductor industry what it wants. SIA CEO John Neuffer said in a statement on March 31 that Biden’s spending program “would invest ambitiously in U.S. semiconductor workers, manufacturing and innovation — three cornerstones of America’s strength and its future.”</p><p>Investment strategists at Bank of America included chip makers in theirlistof companies that could benefit from the Biden plan.</p><p>The spending package would include$50 billionfor the American semiconductor industry amid a worldwide shortage of chips. In addition, $174 billion would be set aside to help the U.S. “win” the worldwide competition for dominance in the electric-car industry. This would obviously help Tesla Inc.TSLA,-0.93%,but it would also support manufacturers of the myriad computer chips used in the vehicles.</p><p>Chip stocks pare gains</p><p>This table shows the 15 semiconductor-industry stocks among the SOX 30 that have declined the most since the close on Feb. 16, the day SOXX hit its all-time high:<img src=\"https://static.tigerbbs.com/4804f0c18e685cdf504a6367364f6cb4\" tg-width=\"771\" tg-height=\"499\" referrerpolicy=\"no-referrer\">Wall Street’s favorite semiconductor stocks</p><p>Here are the 15 SOXX stocks with the most 12-month upside potential implied by consensus price targets among analysts polled by FactSet:</p><p><img src=\"https://static.tigerbbs.com/11d3aa68909b96aa726b3a4bc8339963\" tg-width=\"773\" tg-height=\"411\" referrerpolicy=\"no-referrer\">The table includes forward price-to-earnings ratios. In comparison, the forward P/E ratio for SOXX is 22.7 and the forward P/E for the SPDR S&amp;P 500 ETF TrustSPY,+1.08%is 21.8.</p>","source":"lsy1604288433698","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>These semiconductor stocks might benefit the most from Biden’s spending plan</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\">\nThese semiconductor stocks might benefit the most from Biden’s spending plan\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 09:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/semiconductor-stocks-are-getting-a-lift-from-bidens-big-spending-plan-11617274965?mod=home-page><strong>Market Wacth</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The news about President Biden’s massive spending plans highlights infrastructure. But U.S. semiconductor companies may see a big benefit, and stocks in the sector are already starting to perk up.The ...</p>\n\n<a href=\"https://www.marketwatch.com/story/semiconductor-stocks-are-getting-a-lift-from-bidens-big-spending-plan-11617274965?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TXN":"德州仪器","SOXX":"iShares费城交易所半导体ETF","SOX":"费城半导体指数","INTC":"英特尔","AMD":"美国超微公司","NVDA":"英伟达","QCOM":"高通","SPY":"标普500ETF","TSM":"台积电"},"source_url":"https://www.marketwatch.com/story/semiconductor-stocks-are-getting-a-lift-from-bidens-big-spending-plan-11617274965?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117428745","content_text":"The news about President Biden’s massive spending plans highlights infrastructure. But U.S. semiconductor companies may see a big benefit, and stocks in the sector are already starting to perk up.The iShares PHLX Semiconductor ETFSOXX,+3.68%was up 2.4% on March 31, with all 30 its components showing gains for the session. SOXX tracks the PHLX Semiconductor IndexSOX,+3.69%.Among the 30 stocks, 15 are down at least 10% from Feb. 16, when SOXX hit its all-time high.Biden’s spending planIn February, the Semiconductor Industry Association’s (SIA) board of directors, which includes CEOs or senior executives of Advanced Micro Devices Inc.AMD,+3.30%,Nvidia Corp.NVDA,+3.47%,Qualcomm Inc.QCOM,+3.92%,Intel Corp.INTC,+0.86%,Texas Instruments Inc.TXN,+1.62%and others, sent a letter to Biden.They wrote that the U.S. market share of global computer chip manufacturing had “steadily declined” to 12% from 37% in 1990. The SIA board said the loss of market share was largely the result of significant government investment in the semiconductor industry in other countries, while there was none in the U.S. (You can read the entire letterhere.)And now the president is trying to give the U.S. semiconductor industry what it wants. SIA CEO John Neuffer said in a statement on March 31 that Biden’s spending program “would invest ambitiously in U.S. semiconductor workers, manufacturing and innovation — three cornerstones of America’s strength and its future.”Investment strategists at Bank of America included chip makers in theirlistof companies that could benefit from the Biden plan.The spending package would include$50 billionfor the American semiconductor industry amid a worldwide shortage of chips. In addition, $174 billion would be set aside to help the U.S. “win” the worldwide competition for dominance in the electric-car industry. This would obviously help Tesla Inc.TSLA,-0.93%,but it would also support manufacturers of the myriad computer chips used in the vehicles.Chip stocks pare gainsThis table shows the 15 semiconductor-industry stocks among the SOX 30 that have declined the most since the close on Feb. 16, the day SOXX hit its all-time high:Wall Street’s favorite semiconductor stocksHere are the 15 SOXX stocks with the most 12-month upside potential implied by consensus price targets among analysts polled by FactSet:The table includes forward price-to-earnings ratios. In comparison, the forward P/E ratio for SOXX is 22.7 and the forward P/E for the SPDR S&P 500 ETF TrustSPY,+1.08%is 21.8.","news_type":1},"isVote":1,"tweetType":1,"viewCount":818,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":354084790,"gmtCreate":1617112500110,"gmtModify":1634522591063,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Buy dun wait to regret","listText":"Buy dun wait to regret","text":"Buy dun wait to regret","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354084790","repostId":"1193934463","repostType":4,"repost":{"id":"1193934463","kind":"news","pubTimestamp":1617111708,"share":"https://www.laohu8.com/m/news/1193934463?lang=&edition=full","pubTime":"2021-03-30 21:41","market":"us","language":"en","title":"Tesla and Toyota reportedly considering a SUV partnership","url":"https://stock-news.laohu8.com/highlight/detail?id=1193934463","media":"seekingalpha","summary":"Reports generated out of Chinaindicatethat Tesla(NASDAQ:TSLA)and Toyota(NYSE:TM)are considering work","content":"<p>Reports generated out of Chinaindicatethat Tesla(NASDAQ:TSLA)and Toyota(NYSE:TM)are considering working together on developing a smallSUV platform. Chosun Media says talks have been going on since last year.</p>\n<p>The suggested collaboration would see Toyota provide the vehicle platform to Tesla, while Tesla would supply some of the electronic control platform and software technology to the vehicle platform.</p>\n<p>The same reporting of a Toyota-Tesla tie-up was also posted in a Korean media publications today.</p>\n<p>Toyota was an early investor in Tesla before selling its stake.</p>\n<p>During last year's Tesla Battery Day, Elon Musk teased a sub-$25K electric vehicle. Does a Toyota partnership make that a reality?</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>Tesla and Toyota reportedly considering a SUV partnership</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla and Toyota reportedly considering a SUV partnership\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 21:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677588-tesla-and-toyota-reportedly-considering-a-suv-partnership><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Reports generated out of Chinaindicatethat Tesla(NASDAQ:TSLA)and Toyota(NYSE:TM)are considering working together on developing a smallSUV platform. Chosun Media says talks have been going on since ...</p>\n\n<a href=\"https://seekingalpha.com/news/3677588-tesla-and-toyota-reportedly-considering-a-suv-partnership\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/edb5904d62b10798f760277be625646d","relate_stocks":{"TSLA":"特斯拉","TM":"丰田汽车"},"source_url":"https://seekingalpha.com/news/3677588-tesla-and-toyota-reportedly-considering-a-suv-partnership","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1193934463","content_text":"Reports generated out of Chinaindicatethat Tesla(NASDAQ:TSLA)and Toyota(NYSE:TM)are considering working together on developing a smallSUV platform. Chosun Media says talks have been going on since last year.\nThe suggested collaboration would see Toyota provide the vehicle platform to Tesla, while Tesla would supply some of the electronic control platform and software technology to the vehicle platform.\nThe same reporting of a Toyota-Tesla tie-up was also posted in a Korean media publications today.\nToyota was an early investor in Tesla before selling its stake.\nDuring last year's Tesla Battery Day, Elon Musk teased a sub-$25K electric vehicle. Does a Toyota partnership make that a reality?","news_type":1},"isVote":1,"tweetType":1,"viewCount":171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354014911,"gmtCreate":1617112197133,"gmtModify":1634522594787,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Can buy","listText":"Can buy","text":"Can buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354014911","repostId":"1151024477","repostType":4,"isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354018962,"gmtCreate":1617112067856,"gmtModify":1634522596620,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354018962","repostId":"1102162544","repostType":4,"isVote":1,"tweetType":1,"viewCount":649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":355759762,"gmtCreate":1617108445156,"gmtModify":1634522626897,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Just take the vaccines","listText":"Just take the vaccines","text":"Just take the vaccines","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355759762","repostId":"1165495068","repostType":4,"repost":{"id":"1165495068","kind":"news","pubTimestamp":1617030268,"share":"https://www.laohu8.com/m/news/1165495068?lang=&edition=full","pubTime":"2021-03-29 23:04","market":"us","language":"en","title":"One dose of Pfizer or Moderna vaccines was 80% effective in preventing Covid in CDC study of health workers","url":"https://stock-news.laohu8.com/highlight/detail?id=1165495068","media":"cnbc","summary":"A single dose ofPfizerorModerna'sCovid-19vaccines was 80% effective in preventing coronavirus infections, according to a new Centers for Disease Control and Prevention study of vaccinated health-care workers.The effectiveness of partial immunization was seen two weeks after the first dose, according to the CDC, which looked at nearly 4,000 health care personnel, first responders and frontline workers between Dec. 14 and March 13. The health care workers in the study, which was published Monday, ","content":"<div>\n<p>(March 29) Pfizer stock rally.A single dose ofPfizerorModerna'sCovid-19vaccines was 80% effective in preventing coronavirus infections, according to a new Centers for Disease Control and Prevention ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/29/cdc-study-shows-single-dose-of-pfizer-or-moderna-covid-vaccines-was-80percent-effective.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>One dose of Pfizer or Moderna vaccines was 80% effective in preventing Covid in CDC study of health workers</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\">\nOne dose of Pfizer or Moderna vaccines was 80% effective in preventing Covid in CDC study of health workers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-29 23:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/29/cdc-study-shows-single-dose-of-pfizer-or-moderna-covid-vaccines-was-80percent-effective.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(March 29) Pfizer stock rally.A single dose ofPfizerorModerna'sCovid-19vaccines was 80% effective in preventing coronavirus infections, according to a new Centers for Disease Control and Prevention ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/29/cdc-study-shows-single-dose-of-pfizer-or-moderna-covid-vaccines-was-80percent-effective.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6e474d690ea02c536f0fd4c03fc3ddef","relate_stocks":{"PFE":"辉瑞","MRNA":"Moderna, Inc."},"source_url":"https://www.cnbc.com/2021/03/29/cdc-study-shows-single-dose-of-pfizer-or-moderna-covid-vaccines-was-80percent-effective.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1165495068","content_text":"(March 29) Pfizer stock rally.A single dose ofPfizerorModerna'sCovid-19vaccines was 80% effective in preventing coronavirus infections, according to a new Centers for Disease Control and Prevention study of vaccinated health-care workers.The effectiveness of partial immunization was seen two weeks after the first dose, according to the CDC, which looked at nearly 4,000 health care personnel, first responders and frontline workers between Dec. 14 and March 13. The health care workers in the study, which was published Monday, had no previous laboratory documentation of Covid-19 infection.Two doses are better than one, federal health officials said, adding that the vaccines' effectiveness jumped to 90% two weeks after the second dose.\"These findings indicate that authorized mRNA COVID-19 vaccines are effective for preventing SARS-CoV-2 infection, regardless of symptom status, among working-age adults in real-world conditions,\" the U.S. agency wrote in the study. \"COVID-19 vaccination is recommended for all eligible persons.\"The new CDC findings are likely to bolster arguments from some health experts and public health officials that the U.S. should prioritize giving Americans just one dose of the vaccines before moving on to second doses, accelerating the pace of vaccinations across the nation.Unlike Johnson & Johnson's vaccine, which requires one dose, Pfizer's and Moderna's vaccines require two shots given three to four weeks apart. White House chief medical advisor Dr. Anthony Fauci has repeatedly said over the past few months that the U.S. should stick to the two-dose regimen.","news_type":1},"isVote":1,"tweetType":1,"viewCount":326,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355727299,"gmtCreate":1617108246211,"gmtModify":1634522628500,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Just wait","listText":"Just wait","text":"Just wait","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355727299","repostId":"1151024477","repostType":4,"repost":{"id":"1151024477","kind":"news","pubTimestamp":1617107153,"share":"https://www.laohu8.com/m/news/1151024477?lang=&edition=full","pubTime":"2021-03-30 20:25","market":"us","language":"en","title":"Elon Musk says Tesla Semi will be hard to scale until next year","url":"https://stock-news.laohu8.com/highlight/detail?id=1151024477","media":"seekingalpha","summary":"(March 30) Tesla CEO Elon Musk says near-term cell supply will make it hard to scale the Semi until ","content":"<p>(March 30)&nbsp;Tesla&nbsp;CEO Elon Musk&nbsp;says&nbsp;near-term cell supply will make it hard to scale the Semi until next yearwhen the limitation will be less onerous.</p><p>Yesterday, Tesla won anew orderfor electric semi trucks from MHX Leasing Funds and last week reports emerged that PepsiCo would takedelivery of 15 electric trucks by the end of the year.</p><p>Shares of Tesla are&nbsp;down 1.96%&nbsp;premarket to $599.33.</p><p><img src=\"https://static.tigerbbs.com/732c48224415032c93cd13a00f8916ee\" tg-width=\"642\" tg-height=\"484\" referrerpolicy=\"no-referrer\"></p><p></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>Elon Musk says Tesla Semi will be hard to scale until next year</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\">\nElon Musk says Tesla Semi will be hard to scale until next year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 20:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3677500-elon-musk-says-tesla-semi-will-be-hard-to-scale-until-next-year><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(March 30) Tesla CEO Elon Musk says near-term cell supply will make it hard to scale the Semi until next yearwhen the limitation will be less onerous.Yesterday, Tesla won anew orderfor electric semi ...</p>\n\n<a href=\"https://seekingalpha.com/news/3677500-elon-musk-says-tesla-semi-will-be-hard-to-scale-until-next-year\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/894b094eb32ac5072648613b2fa7f36e","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/news/3677500-elon-musk-says-tesla-semi-will-be-hard-to-scale-until-next-year","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1151024477","content_text":"(March 30) Tesla CEO Elon Musk says near-term cell supply will make it hard to scale the Semi until next yearwhen the limitation will be less onerous.Yesterday, Tesla won anew orderfor electric semi trucks from MHX Leasing Funds and last week reports emerged that PepsiCo would takedelivery of 15 electric trucks by the end of the year.Shares of Tesla are down 1.96% premarket to $599.33.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":355727299,"gmtCreate":1617108246211,"gmtModify":1634522628500,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Just wait","listText":"Just wait","text":"Just wait","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355727299","repostId":"1151024477","repostType":4,"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354084790,"gmtCreate":1617112500110,"gmtModify":1634522591063,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Buy dun wait to regret","listText":"Buy dun wait to regret","text":"Buy dun wait to regret","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354084790","repostId":"1193934463","repostType":4,"isVote":1,"tweetType":1,"viewCount":171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340829097,"gmtCreate":1617374279719,"gmtModify":1634521189836,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Patience has paid off for those who has bought S&amp;P[龇牙]&nbsp;","listText":"Patience has paid off for those who has bought S&amp;P[龇牙]&nbsp;","text":"Patience has paid off for those who has bought S&P[龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/340829097","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","kind":"news","pubTimestamp":1617366158,"share":"https://www.laohu8.com/m/news/1191998262?lang=&edition=full","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</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>How Likely Is a Stock Market Crash?</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\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":761,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":354018962,"gmtCreate":1617112067856,"gmtModify":1634522596620,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"[财迷]&nbsp;","listText":"[财迷]&nbsp;","text":"[财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/354018962","repostId":"1102162544","repostType":4,"repost":{"id":"1102162544","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1617106353,"share":"https://www.laohu8.com/m/news/1102162544?lang=&edition=full","pubTime":"2021-03-30 20:12","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1102162544","media":"Tiger Newspress","summary":"U.S. stock futures droppedTuesday.TheDow Jones Industrial Averagebucked Monday’s downdraft,closing a","content":"<ul><li>U.S. stock futures droppedTuesday.</li><li>TheDow Jones Industrial Averagebucked Monday’s downdraft,closing at another recorddespite weakness in bank stocks caught in the fallout of the Archegos Capital Management margin call chaos.</li><li>Nasdaq 100 futures slipped 0.7% as Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.6% and 0.8% premarket, as U.S. 10-year Treasury yields hit a 14-month high.</li><li>Ten-year Treasury yields increased to 1.76%. The five-year rate rose as high as 0.95%, a 13-month high, followed by a block sale in the notes.</li></ul><p>(March 30)&nbsp;U.S. stock futures droppedTuesday as the10-year Treasury yieldhit a 14-month high in early trading. On Monday, the Nasdaq dropped and theS&amp;P 500&nbsp;fell from the previous session’s record close. TheDow Jones Industrial Averagebucked Monday’s downdraft,closing at another recorddespite weakness in bank stocks caught in the fallout of the Archegos Capital Management margin call chaos. With two days left in March, the Dow and S&amp;P 500 were sitting on solid gains for the month. The Nasdaq was tracking for a monthly loss.</p><p>At 8:00 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&amp;P 500 E-minis were down 13.5 points, or 0.34% and Nasdaq 100 E-minis were fell 91.25 points, or 0.70%.</p><p>Nasdaq 100 futures slipped 0.7% as Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.6% and 0.8% premarket, as U.S. 10-year Treasury yields hit a 14-month high.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a71ede03a42bb32770210aaa7338d553\" tg-width=\"359\" tg-height=\"147\" referrerpolicy=\"no-referrer\"><span>*Source FromTiger Trade, EST 08:00</span></p><p><b>Stocks making the biggest moves premarket: Discovery, ViacomCBS, Credit Suisse, PayPal, Roku &amp; more</b></p><p>1)&nbsp;<b>Discovery Communications,ViacomCBS</b>– The two media stocks are higher this morning, after being battered amid the liquidation of stocks involving hedge fund Archegos Capital.&nbsp;Discovery rose 1.6% premarket after a 6-day losing streak that stripped nearly 47% of its value, while Viacom gained 1.1% after a 5-day skid that saw it lose 55% of its value.</p><p>2)&nbsp;<b>Nomura Securities,Credit Suisse</b>&nbsp;– Nomura and Credit Suisse slid again in premarket trading, after tumbling Monday on news of anticipated loss from the fallout of Archegos Capital’s stock sales.&nbsp;Nomura fell 1.9%, while Credit Suisse was down 2.6%.</p><p>3)&nbsp;<b>Albertsons</b>&nbsp;– The supermarket chain announced a wide-ranging partnership withAlphabet-owned Google that will integrate a variety of Google services to enhance the shopping experience for Albertsons customers.</p><p>4)&nbsp;<b>PayPal Holdings</b>&nbsp;– PayPal will launch acheckout service allowing U.S. customers to use cryptocurrency holdingswhen they check out at millions of online merchants. Customers will be given the option of converting cryptocurrency to fiat currencies before they complete their purchases.</p><p>5)&nbsp;<b>T-Mobile US</b>&nbsp;– The wireless carrier will end its “TVision” live TV service at the end of April, and will instead offer its customers discounts to subscribe to Google’s YouTube TV service.</p><p>6)&nbsp;<b>McCormick &amp; Co.</b>&nbsp;– The spice and condiment maker reported adjusted quarterly profit of 72 cents per share, beating consensus estimates by 13 cents, with revenue beating estimates as well.&nbsp;The company also raised its full-year forecast, as the pandemic continues to see more consumers cooking at home.&nbsp; McCormick shares gained 2.1% in premarket action.</p><p>7)&nbsp;<b>Tegna</b>&nbsp;– The media company increased its quarterly dividend to 9.5 cents per share from the prior 7 cents, payable on July 1 to stockholders of record as of June 4.</p><p>8)&nbsp;<b>Roku</b>&nbsp;– The maker of video streaming devices saw its stock rise 1.6% premarket, after Truist Financial upgraded the stock to “buy” from “hold” on what it sees as multiple opportunities for revenue enhancement as well as current valuation.</p><p>9)&nbsp;<b>Yel</b>&nbsp;– The review site operator was upgraded to “buy” from “neutral” at Citi, which sees Yelp benefiting from a number of trends over the next few years including restaurant reopenings and reduced sales expenses.&nbsp;Yelp gained 1.8% premarket.</p><p>10)&nbsp;<b>BioNTech</b>&nbsp;– The German biotech company’s shares jumped 4.9% premarket after it raised its manufacturing goal for its Covid-19 vaccine to 2.5 billion doses by the end of 2021.&nbsp;Previously, BioNTech’s vaccine partnerPfizerhad predicted output of between 2.3 billion and 2.4 billion.</p><p>11)&nbsp;<b>FactSet</b>&nbsp;– The financial information provider reported adjusted quarterly earnings of $2.72 per share, missing consensus estimates by 2 cents, while revenue was in line with Wall Street forecasts.&nbsp;FactSet also predicted full-year adjusted earnings of $10.75 to $11.15 per share, compared to a consensus estimate of $11.17.</p><p>12)<b>&nbsp;Becton Dickinson</b>&nbsp;– The medical-products maker received emergency use authorization from the FDA for a new rapid antigen test that can detect both flu and Covid-19.</p><p>13)&nbsp;<b>DraftKings</b>&nbsp;– The sports betting company announced the acquisition of sports betting and content company VSiN for an undisclosed amount.&nbsp;DraftKings shares jumped 1% premarket.</p><p>14)&nbsp;<b>Nio Inc</b>&nbsp;<b>-</b>&nbsp;NIO&nbsp;has agreed to partner with German retail giant Metro AG to construct electric vehicle charging stations and battery swap stations, cnEVpost reported.</p><p>15)&nbsp;<b>Nokia Oyj</b>&nbsp;<b>-</b>&nbsp;A lawsuit against&nbsp;&nbsp;Nokia&nbsp;Oyj&nbsp;alleging that the telecom company defrauded shareholders was dismissed in New York on Monday, Reuters reported.</p><p><b>These are some of the main moves in financial markets:</b></p><ul><li><b>Currencies</b></li></ul><p>The Bloomberg Dollar Spot Index jumped 0.3%.The euro declined 0.2% to $1.1736.The British pound dipped 0.1% to $1.3753.The onshore yuan was little changed at 6.57 per dollar.The Japanese yen weakened 0.5% to 110.35 per dollar.</p><ul><li><b>Bonds</b></li></ul><p>The yield on 10-year Treasuries rose five basis points to 1.76%.The yield on two-year Treasuries rose one basis point to 0.15%.Germany’s 10-year yield climbed five basis points to -0.27%.Britain’s 10-year yield increased six basis points to 0.848%.Japan’s 10-year yield gained two basis points to 0.091%.</p><ul><li><b>Commodities</b></li></ul><p>West Texas Intermediate crude declined 2% to $60.30 a barrel.Brent crude dipped 1.9% to $63.77 a barrel.Gold weakened 1.3% to $1,689.76 an ounce.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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The five-year rate rose as high as 0.95%, a 13-month high, followed by a block sale in the notes.</li></ul><p>(March 30)&nbsp;U.S. stock futures droppedTuesday as the10-year Treasury yieldhit a 14-month high in early trading. On Monday, the Nasdaq dropped and theS&amp;P 500&nbsp;fell from the previous session’s record close. TheDow Jones Industrial Averagebucked Monday’s downdraft,closing at another recorddespite weakness in bank stocks caught in the fallout of the Archegos Capital Management margin call chaos. With two days left in March, the Dow and S&amp;P 500 were sitting on solid gains for the month. The Nasdaq was tracking for a monthly loss.</p><p>At 8:00 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&amp;P 500 E-minis were down 13.5 points, or 0.34% and Nasdaq 100 E-minis were fell 91.25 points, or 0.70%.</p><p>Nasdaq 100 futures slipped 0.7% as Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.6% and 0.8% premarket, as U.S. 10-year Treasury yields hit a 14-month high.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a71ede03a42bb32770210aaa7338d553\" tg-width=\"359\" tg-height=\"147\" referrerpolicy=\"no-referrer\"><span>*Source FromTiger Trade, EST 08:00</span></p><p><b>Stocks making the biggest moves premarket: Discovery, ViacomCBS, Credit Suisse, PayPal, Roku &amp; more</b></p><p>1)&nbsp;<b>Discovery Communications,ViacomCBS</b>– The two media stocks are higher this morning, after being battered amid the liquidation of stocks involving hedge fund Archegos Capital.&nbsp;Discovery rose 1.6% premarket after a 6-day losing streak that stripped nearly 47% of its value, while Viacom gained 1.1% after a 5-day skid that saw it lose 55% of its value.</p><p>2)&nbsp;<b>Nomura Securities,Credit Suisse</b>&nbsp;– Nomura and Credit Suisse slid again in premarket trading, after tumbling Monday on news of anticipated loss from the fallout of Archegos Capital’s stock sales.&nbsp;Nomura fell 1.9%, while Credit Suisse was down 2.6%.</p><p>3)&nbsp;<b>Albertsons</b>&nbsp;– The supermarket chain announced a wide-ranging partnership withAlphabet-owned Google that will integrate a variety of Google services to enhance the shopping experience for Albertsons customers.</p><p>4)&nbsp;<b>PayPal Holdings</b>&nbsp;– PayPal will launch acheckout service allowing U.S. customers to use cryptocurrency holdingswhen they check out at millions of online merchants. Customers will be given the option of converting cryptocurrency to fiat currencies before they complete their purchases.</p><p>5)&nbsp;<b>T-Mobile US</b>&nbsp;– The wireless carrier will end its “TVision” live TV service at the end of April, and will instead offer its customers discounts to subscribe to Google’s YouTube TV service.</p><p>6)&nbsp;<b>McCormick &amp; Co.</b>&nbsp;– The spice and condiment maker reported adjusted quarterly profit of 72 cents per share, beating consensus estimates by 13 cents, with revenue beating estimates as well.&nbsp;The company also raised its full-year forecast, as the pandemic continues to see more consumers cooking at home.&nbsp; McCormick shares gained 2.1% in premarket action.</p><p>7)&nbsp;<b>Tegna</b>&nbsp;– The media company increased its quarterly dividend to 9.5 cents per share from the prior 7 cents, payable on July 1 to stockholders of record as of June 4.</p><p>8)&nbsp;<b>Roku</b>&nbsp;– The maker of video streaming devices saw its stock rise 1.6% premarket, after Truist Financial upgraded the stock to “buy” from “hold” on what it sees as multiple opportunities for revenue enhancement as well as current valuation.</p><p>9)&nbsp;<b>Yel</b>&nbsp;– The review site operator was upgraded to “buy” from “neutral” at Citi, which sees Yelp benefiting from a number of trends over the next few years including restaurant reopenings and reduced sales expenses.&nbsp;Yelp gained 1.8% premarket.</p><p>10)&nbsp;<b>BioNTech</b>&nbsp;– The German biotech company’s shares jumped 4.9% premarket after it raised its manufacturing goal for its Covid-19 vaccine to 2.5 billion doses by the end of 2021.&nbsp;Previously, BioNTech’s vaccine partnerPfizerhad predicted output of between 2.3 billion and 2.4 billion.</p><p>11)&nbsp;<b>FactSet</b>&nbsp;– The financial information provider reported adjusted quarterly earnings of $2.72 per share, missing consensus estimates by 2 cents, while revenue was in line with Wall Street forecasts.&nbsp;FactSet also predicted full-year adjusted earnings of $10.75 to $11.15 per share, compared to a consensus estimate of $11.17.</p><p>12)<b>&nbsp;Becton Dickinson</b>&nbsp;– The medical-products maker received emergency use authorization from the FDA for a new rapid antigen test that can detect both flu and Covid-19.</p><p>13)&nbsp;<b>DraftKings</b>&nbsp;– The sports betting company announced the acquisition of sports betting and content company VSiN for an undisclosed amount.&nbsp;DraftKings shares jumped 1% premarket.</p><p>14)&nbsp;<b>Nio Inc</b>&nbsp;<b>-</b>&nbsp;NIO&nbsp;has agreed to partner with German retail giant Metro AG to construct electric vehicle charging stations and battery swap stations, cnEVpost reported.</p><p>15)&nbsp;<b>Nokia Oyj</b>&nbsp;<b>-</b>&nbsp;A lawsuit against&nbsp;&nbsp;Nokia&nbsp;Oyj&nbsp;alleging that the telecom company defrauded shareholders was dismissed in New York on Monday, Reuters reported.</p><p><b>These are some of the main moves in financial markets:</b></p><ul><li><b>Currencies</b></li></ul><p>The Bloomberg Dollar Spot Index jumped 0.3%.The euro declined 0.2% to $1.1736.The British pound dipped 0.1% to $1.3753.The onshore yuan was little changed at 6.57 per dollar.The Japanese yen weakened 0.5% to 110.35 per dollar.</p><ul><li><b>Bonds</b></li></ul><p>The yield on 10-year Treasuries rose five basis points to 1.76%.The yield on two-year Treasuries rose one basis point to 0.15%.Germany’s 10-year yield climbed five basis points to -0.27%.Britain’s 10-year yield increased six basis points to 0.848%.Japan’s 10-year yield gained two basis points to 0.091%.</p><ul><li><b>Commodities</b></li></ul><p>West Texas Intermediate crude declined 2% to $60.30 a barrel.Brent crude dipped 1.9% to $63.77 a barrel.Gold weakened 1.3% to $1,689.76 an ounce.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/347452cc99fb488c45ccd900fcf3aa20","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102162544","content_text":"U.S. stock futures droppedTuesday.TheDow Jones Industrial Averagebucked Monday’s downdraft,closing at another recorddespite weakness in bank stocks caught in the fallout of the Archegos Capital Management margin call chaos.Nasdaq 100 futures slipped 0.7% as Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.6% and 0.8% premarket, as U.S. 10-year Treasury yields hit a 14-month high.Ten-year Treasury yields increased to 1.76%. The five-year rate rose as high as 0.95%, a 13-month high, followed by a block sale in the notes.(March 30) U.S. stock futures droppedTuesday as the10-year Treasury yieldhit a 14-month high in early trading. On Monday, the Nasdaq dropped and theS&P 500 fell from the previous session’s record close. TheDow Jones Industrial Averagebucked Monday’s downdraft,closing at another recorddespite weakness in bank stocks caught in the fallout of the Archegos Capital Management margin call chaos. With two days left in March, the Dow and S&P 500 were sitting on solid gains for the month. The Nasdaq was tracking for a monthly loss.At 8:00 a.m. ET, Dow E-minis were down 26 points, or 0.08%, S&P 500 E-minis were down 13.5 points, or 0.34% and Nasdaq 100 E-minis were fell 91.25 points, or 0.70%.Nasdaq 100 futures slipped 0.7% as Amazon.com, Apple Inc, Netflix Inc and Microsoft Corp dropped between 0.6% and 0.8% premarket, as U.S. 10-year Treasury yields hit a 14-month high.*Source FromTiger Trade, EST 08:00Stocks making the biggest moves premarket: Discovery, ViacomCBS, Credit Suisse, PayPal, Roku & more1) Discovery Communications,ViacomCBS– The two media stocks are higher this morning, after being battered amid the liquidation of stocks involving hedge fund Archegos Capital. Discovery rose 1.6% premarket after a 6-day losing streak that stripped nearly 47% of its value, while Viacom gained 1.1% after a 5-day skid that saw it lose 55% of its value.2) Nomura Securities,Credit Suisse – Nomura and Credit Suisse slid again in premarket trading, after tumbling Monday on news of anticipated loss from the fallout of Archegos Capital’s stock sales. Nomura fell 1.9%, while Credit Suisse was down 2.6%.3) Albertsons – The supermarket chain announced a wide-ranging partnership withAlphabet-owned Google that will integrate a variety of Google services to enhance the shopping experience for Albertsons customers.4) PayPal Holdings – PayPal will launch acheckout service allowing U.S. customers to use cryptocurrency holdingswhen they check out at millions of online merchants. Customers will be given the option of converting cryptocurrency to fiat currencies before they complete their purchases.5) T-Mobile US – The wireless carrier will end its “TVision” live TV service at the end of April, and will instead offer its customers discounts to subscribe to Google’s YouTube TV service.6) McCormick & Co. – The spice and condiment maker reported adjusted quarterly profit of 72 cents per share, beating consensus estimates by 13 cents, with revenue beating estimates as well. The company also raised its full-year forecast, as the pandemic continues to see more consumers cooking at home.  McCormick shares gained 2.1% in premarket action.7) Tegna – The media company increased its quarterly dividend to 9.5 cents per share from the prior 7 cents, payable on July 1 to stockholders of record as of June 4.8) Roku – The maker of video streaming devices saw its stock rise 1.6% premarket, after Truist Financial upgraded the stock to “buy” from “hold” on what it sees as multiple opportunities for revenue enhancement as well as current valuation.9) Yel – The review site operator was upgraded to “buy” from “neutral” at Citi, which sees Yelp benefiting from a number of trends over the next few years including restaurant reopenings and reduced sales expenses. Yelp gained 1.8% premarket.10) BioNTech – The German biotech company’s shares jumped 4.9% premarket after it raised its manufacturing goal for its Covid-19 vaccine to 2.5 billion doses by the end of 2021. Previously, BioNTech’s vaccine partnerPfizerhad predicted output of between 2.3 billion and 2.4 billion.11) FactSet – The financial information provider reported adjusted quarterly earnings of $2.72 per share, missing consensus estimates by 2 cents, while revenue was in line with Wall Street forecasts. FactSet also predicted full-year adjusted earnings of $10.75 to $11.15 per share, compared to a consensus estimate of $11.17.12) Becton Dickinson – The medical-products maker received emergency use authorization from the FDA for a new rapid antigen test that can detect both flu and Covid-19.13) DraftKings – The sports betting company announced the acquisition of sports betting and content company VSiN for an undisclosed amount. DraftKings shares jumped 1% premarket.14) Nio Inc - NIO has agreed to partner with German retail giant Metro AG to construct electric vehicle charging stations and battery swap stations, cnEVpost reported.15) Nokia Oyj - A lawsuit against  Nokia Oyj alleging that the telecom company defrauded shareholders was dismissed in New York on Monday, Reuters reported.These are some of the main moves in financial markets:CurrenciesThe Bloomberg Dollar Spot Index jumped 0.3%.The euro declined 0.2% to $1.1736.The British pound dipped 0.1% to $1.3753.The onshore yuan was little changed at 6.57 per dollar.The Japanese yen weakened 0.5% to 110.35 per dollar.BondsThe yield on 10-year Treasuries rose five basis points to 1.76%.The yield on two-year Treasuries rose one basis point to 0.15%.Germany’s 10-year yield climbed five basis points to -0.27%.Britain’s 10-year yield increased six basis points to 0.848%.Japan’s 10-year yield gained two basis points to 0.091%.CommoditiesWest Texas Intermediate crude declined 2% to $60.30 a barrel.Brent crude dipped 1.9% to $63.77 a barrel.Gold weakened 1.3% to $1,689.76 an ounce.","news_type":1},"isVote":1,"tweetType":1,"viewCount":649,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":355759762,"gmtCreate":1617108445156,"gmtModify":1634522626897,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Just take the vaccines","listText":"Just take the vaccines","text":"Just take the vaccines","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/355759762","repostId":"1165495068","repostType":4,"isVote":1,"tweetType":1,"viewCount":326,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":855833018,"gmtCreate":1635347781733,"gmtModify":1635347781833,"author":{"id":"3575032741986642","authorId":"3575032741986642","name":"AngelAw","avatar":"https://static.tigerbbs.com/e8206a20c5dd9d81d85c5335051c8830","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575032741986642","authorIdStr":"3575032741986642"},"themes":[],"htmlText":"Buy can earn profit","listText":"Buy can earn profit","text":"Buy can earn profit","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/855833018","repostId":"1186134889","repostType":2,"repost":{"id":"1186134889","kind":"news","pubTimestamp":1635145020,"share":"https://www.laohu8.com/m/news/1186134889?lang=&edition=full","pubTime":"2021-10-25 14:57","market":"us","language":"en","title":"Sea: Don't Be Caught Holding The Hot Potato","url":"https://stock-news.laohu8.com/highlight/detail?id=1186134889","media":"Seeking Alpha","summary":"Summary\n\nShares of Sea have nearly doubled this year, as the Southeast Asian internet giant continue","content":"<p><b>Summary</b></p>\n<ul>\n <li>Shares of Sea have nearly doubled this year, as the Southeast Asian internet giant continues to grow in gaming and e-commerce.</li>\n <li>Sea didn't suffer a massive slowdown in gaming in the post-pandemic period as expected.</li>\n <li>E-commerce GMV continues to explode, though losses are also multiplying.</li>\n <li>Sea recently announced a massive capital raise, which highlights the company's losses.</li>\n <li>Valuation remains the key limiting factor for Sea, with the stock trading at ~14x forward revenue.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/66e280d822cebfb8966ad498a141862e\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>DeanDrobot/iStock via Getty Images</span></p>\n<p>It's tough to stake out a contrarian negative stance against Sea (SE), but I retain my conviction that this Southeast Asian internet conglomerate has run up far too quickly, at least relative to its fundamentals. Few pandemic investments have been as fortuitous as Sea. Prior to the pandemic, this little-known Singaporean internet stock was trading at just $50 per share. Now, as the pandemic has \"activated\" growth in each of Sea's three key segments: online gaming, e-commerce, and online payments - shares of Sea sit above $350, having risen ~7x since the start of the pandemic and nearly ~2x year to date through 2021.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/da4abad91139d60d01f334013aa4c8c4\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p>\n<p>Everyone loves a winner, especially in this year's stock market. But given overall market jitters and a recent September/October correction in growth stocks, we have to ask:<b>does Sea really have upside left?</b></p>\n<p>I continue to retain my&nbsp;<b>neutral</b>&nbsp;opinion on Sea. I do see the appeal: yeah, major market has an internet e-commerce king (Amazon (AMZN) in the U.S., Alibaba (BABA) in China), and Southeast Asia's most likely winner is Sea. I don't doubt that this stock will continue to be a heavyweight five years down the line. But I'm looking at the next 1-2 year timeframe, and I think the stock has already gotten ahead of itself and won't be able to meaningfully outperform in the short term.</p>\n<p>Let's look at valuation; at current share prices near $355, Sea trades at a market cap of $196.2 billion, already making it a mega-cap that exceeds the size of many of the Dow 30 components. After netting off the $5.89 billion of cash and $1.28 billion of convertible debt on Sea's most recent balance sheet, the company's resulting&nbsp;<b>enterprise value is $191.59 billion.</b>For FY22, Wall Street analysts are expecting Sea to generate $13.54 billion in revenue, representing 49% y/y growth. Against this revenue expectation, Sea trades at a stark&nbsp;<b>14.1x EV/FY22 revenue multiple.</b>As a reminder, Sea's consolidated gross margin stands at only ~40%, and about half of this revenue comes from e-commerce, which carries only a ~15% margin. How much higher can Sea go? It's clear that Sea's stock price advance and its valuation have been decoupled.</p>\n<p>Fundamentally, I am impressed by Sea's continued growth in gaming, which has extended further beyond the pandemic than I initially expected (hence why I'm neutral and not bearish on the stock). At the same time, I hesitate to believe that ~$200 billion is an appropriate valuation for a company that is not profitable and hasn't shown a meaningful trajectory to getting there, as adjusted EBITDA losses continue to mount. A recent capital raise, too, may indicate that this will be Sea's pattern for a while: growth at all costs. That mindset worked for investors in 2020 and 2021; but will it stand firm if overall market sentiment continues to sour in 2022?</p>\n<p>In my opinion, the best move here is to remain on the sidelines.</p>\n<p><b>Gaming remains sturdy</b></p>\n<p>One of the biggest upside surprises that Sea delivered in its most recent quarter was strength in gaming. In the gaming sector (and this goes beyond just Sea itself), the biggest fear was that the post-pandemic period, which saw a return to schools and offices, would sap gaming time and paid user counts this fall.</p>\n<p>If this is to happen, though, it hasn't happened yet. After a Q1 in which Sea's quarterly active user adds slowed to ~38 million, Sea added&nbsp;<b>76 million net-new QAUs</b>&nbsp;in Q2, roughly matching the pace of the prior two quarters combined. Quarterly paid users, meanwhile, grew at 85% y/y to 92.2 million, with paid users representing a record 13% of Sea's total QAUs.</p>\n<p>Figure 1. Sea gaming user counts</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/10ec6773a8f9c4c7506cdce3ade0fc60\" tg-width=\"640\" tg-height=\"326\" width=\"100%\" height=\"auto\"><span>Source: Sea Q2 earnings presentation</span></p>\n<p>The paid user ratio is up three points from 10% in the year-ago Q2, and has been rising steadily. Therein lies a big catalyst for investor enthusiasm in this stock, and one that I don't disagree with: Sea already has a large captive audience, and it has also proven adept at content curation and producing its own games (Free Fire, which was developed in-house, remains the company's biggest hit). As paid user ratios rise, Sea may be able to capture more and more revenue from this 700+ million-strong user base.</p>\n<p>Here's some useful anecdotal commentary from Sea CEO Forrest Li on gamer engagement, made during his prepared remarks on the&nbsp;Q2 earnings call:</p>\n<blockquote>\n Free Fire delivered excellent results during the quarter, setting multiple new records. Building on its strong performance across global markets, the game recently exceeded 1 billion cumulative downloads on Google Play. We believe Free Fire is the first ever mobile battle royale game to achieve this milestone.\n</blockquote>\n<blockquote>\n It was ranked third globally by average monthly active users on Google Play in the second quarter, according to App Annie. Furthermore, Free Fire’s peak daily active users hit more than 150 million during the quarter. This is a new record for us, and we believe that few online games globally have ever reached this scale.\n</blockquote>\n<blockquote>\n Meanwhile, Free Fire continued to be the highest grossing mobile game in Southeast Asia, Latin America and India in the second quarter, according to App Annie. The game has now retained its leadership in Southeast Asia and Latin America for eight straight quarters, and in India for three straight quarters. We have also gained traction in certain developed markets like the U.S. where the game was ranked the highest grossing mobile battle royale game for the past two quarters based on App Annie. Free Fire was the second highest grossing mobile game in the U.S. on Google Play across all game categories in the second quarter as well.\"\n</blockquote>\n<p>We'll have to see, however, what unknown pandemic impacts are baked into these numbers. For example, in Sea's home market of Singapore, schools&nbsp;shifted back to online education&nbsp;after COVID cases spiked this fall. Similar dynamics may be helping Sea's Q2 user counts, and investors may be shocked if growth decelerates down the road.</p>\n<p>Sea's digital entertainment bookings grew 65% y/y to $1.2 billion in Q2, but for the full year FY21, the company is guiding to only 45% y/y bookings growth, implying deceleration in the back half of the year.</p>\n<p><b>Losses and capital raise may raise eyebrows</b></p>\n<p>The continued worry we have for Sea, however, is this: when will investors finally be unable to look past the buildup of losses? I continue to emphasize that&nbsp;<b>Sea's gaming division is subsidizing its e-commerce division.</b>Investors are primarily long on Sea for the latter, but the latter cannot stand without the profits of the former.</p>\n<p>Figure 2. Sea adjusted EBITDA</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b54d900f9e355c4b49394fb46ead7af\" tg-width=\"640\" tg-height=\"337\" width=\"100%\" height=\"auto\"><span>Source: Sea Q2 earnings presentation</span></p>\n<p>The chart above tells us two things:</p>\n<ul>\n <li>Sea is not on a path to stabilization yet; the company had a -$24.1 million adjusted EBITDA loss in FY21 versus $7.7 million of profit on FY20.</li>\n <li>Gaming's ~$300 million y/y buildup of adjusted EBITDA gains was approximately exactly enough to cover a buildup of losses of the same magnitude in e-commerce and digital financial services.</li>\n</ul>\n<p>It's not all bad news for Sea: the company reported that two markets, Malaysia and Taiwan, have reported division-level EBITDA breakeven in the e-commerce segment. However, Sea's largest market of Indonesia continues to lag (and in this market, where Sea's competition versus the likes of Tokopedia is fierce, the company is chasing growth through offering deeply discounted products).</p>\n<p>GAAP losses are much wider than adjusted EBITDA; year-to-date through Q2, Sea has generated a GAAP loss of -$856.1 million, or a -21% net margin.</p>\n<p>We note as well that Sea&nbsp;recently did a \"mega financing\", selling $3.5 billion of new American Depository Shares and $2.5 billion in a new convertible bond. This buffering up of cash should be a signal to the markets that Sea is going to need more liquidity support outside of its operations for quite some time.</p>\n<p><b>Key takeaways</b></p>\n<p>I don't disagree that Sea remains on a growth tear, but I remain unenthused about the company's prospects. Large losses and a heavy valuation seem like quainter concepts in the 2021 bull market, but looking ahead to 2022 when most of Wall Street is calling for choppy trading ahead may not make growth stocks like Sea the best choice. Steer clear here.</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>Sea: Don't Be Caught Holding The Hot Potato</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\">\nSea: Don't Be Caught Holding The Hot Potato\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-25 14:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4461654-sea-dont-be-caught-holding-the-hot-potato><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nShares of Sea have nearly doubled this year, as the Southeast Asian internet giant continues to grow in gaming and e-commerce.\nSea didn't suffer a massive slowdown in gaming in the post-...</p>\n\n<a href=\"https://seekingalpha.com/article/4461654-sea-dont-be-caught-holding-the-hot-potato\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4461654-sea-dont-be-caught-holding-the-hot-potato","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186134889","content_text":"Summary\n\nShares of Sea have nearly doubled this year, as the Southeast Asian internet giant continues to grow in gaming and e-commerce.\nSea didn't suffer a massive slowdown in gaming in the post-pandemic period as expected.\nE-commerce GMV continues to explode, though losses are also multiplying.\nSea recently announced a massive capital raise, which highlights the company's losses.\nValuation remains the key limiting factor for Sea, with the stock trading at ~14x forward revenue.\n\nDeanDrobot/iStock via Getty Images\nIt's tough to stake out a contrarian negative stance against Sea (SE), but I retain my conviction that this Southeast Asian internet conglomerate has run up far too quickly, at least relative to its fundamentals. Few pandemic investments have been as fortuitous as Sea. Prior to the pandemic, this little-known Singaporean internet stock was trading at just $50 per share. Now, as the pandemic has \"activated\" growth in each of Sea's three key segments: online gaming, e-commerce, and online payments - shares of Sea sit above $350, having risen ~7x since the start of the pandemic and nearly ~2x year to date through 2021.\nData by YCharts\nEveryone loves a winner, especially in this year's stock market. But given overall market jitters and a recent September/October correction in growth stocks, we have to ask:does Sea really have upside left?\nI continue to retain my neutral opinion on Sea. I do see the appeal: yeah, major market has an internet e-commerce king (Amazon (AMZN) in the U.S., Alibaba (BABA) in China), and Southeast Asia's most likely winner is Sea. I don't doubt that this stock will continue to be a heavyweight five years down the line. But I'm looking at the next 1-2 year timeframe, and I think the stock has already gotten ahead of itself and won't be able to meaningfully outperform in the short term.\nLet's look at valuation; at current share prices near $355, Sea trades at a market cap of $196.2 billion, already making it a mega-cap that exceeds the size of many of the Dow 30 components. After netting off the $5.89 billion of cash and $1.28 billion of convertible debt on Sea's most recent balance sheet, the company's resulting enterprise value is $191.59 billion.For FY22, Wall Street analysts are expecting Sea to generate $13.54 billion in revenue, representing 49% y/y growth. Against this revenue expectation, Sea trades at a stark 14.1x EV/FY22 revenue multiple.As a reminder, Sea's consolidated gross margin stands at only ~40%, and about half of this revenue comes from e-commerce, which carries only a ~15% margin. How much higher can Sea go? It's clear that Sea's stock price advance and its valuation have been decoupled.\nFundamentally, I am impressed by Sea's continued growth in gaming, which has extended further beyond the pandemic than I initially expected (hence why I'm neutral and not bearish on the stock). At the same time, I hesitate to believe that ~$200 billion is an appropriate valuation for a company that is not profitable and hasn't shown a meaningful trajectory to getting there, as adjusted EBITDA losses continue to mount. A recent capital raise, too, may indicate that this will be Sea's pattern for a while: growth at all costs. That mindset worked for investors in 2020 and 2021; but will it stand firm if overall market sentiment continues to sour in 2022?\nIn my opinion, the best move here is to remain on the sidelines.\nGaming remains sturdy\nOne of the biggest upside surprises that Sea delivered in its most recent quarter was strength in gaming. In the gaming sector (and this goes beyond just Sea itself), the biggest fear was that the post-pandemic period, which saw a return to schools and offices, would sap gaming time and paid user counts this fall.\nIf this is to happen, though, it hasn't happened yet. After a Q1 in which Sea's quarterly active user adds slowed to ~38 million, Sea added 76 million net-new QAUs in Q2, roughly matching the pace of the prior two quarters combined. Quarterly paid users, meanwhile, grew at 85% y/y to 92.2 million, with paid users representing a record 13% of Sea's total QAUs.\nFigure 1. Sea gaming user counts\nSource: Sea Q2 earnings presentation\nThe paid user ratio is up three points from 10% in the year-ago Q2, and has been rising steadily. Therein lies a big catalyst for investor enthusiasm in this stock, and one that I don't disagree with: Sea already has a large captive audience, and it has also proven adept at content curation and producing its own games (Free Fire, which was developed in-house, remains the company's biggest hit). As paid user ratios rise, Sea may be able to capture more and more revenue from this 700+ million-strong user base.\nHere's some useful anecdotal commentary from Sea CEO Forrest Li on gamer engagement, made during his prepared remarks on the Q2 earnings call:\n\n Free Fire delivered excellent results during the quarter, setting multiple new records. Building on its strong performance across global markets, the game recently exceeded 1 billion cumulative downloads on Google Play. We believe Free Fire is the first ever mobile battle royale game to achieve this milestone.\n\n\n It was ranked third globally by average monthly active users on Google Play in the second quarter, according to App Annie. Furthermore, Free Fire’s peak daily active users hit more than 150 million during the quarter. This is a new record for us, and we believe that few online games globally have ever reached this scale.\n\n\n Meanwhile, Free Fire continued to be the highest grossing mobile game in Southeast Asia, Latin America and India in the second quarter, according to App Annie. The game has now retained its leadership in Southeast Asia and Latin America for eight straight quarters, and in India for three straight quarters. We have also gained traction in certain developed markets like the U.S. where the game was ranked the highest grossing mobile battle royale game for the past two quarters based on App Annie. Free Fire was the second highest grossing mobile game in the U.S. on Google Play across all game categories in the second quarter as well.\"\n\nWe'll have to see, however, what unknown pandemic impacts are baked into these numbers. For example, in Sea's home market of Singapore, schools shifted back to online education after COVID cases spiked this fall. Similar dynamics may be helping Sea's Q2 user counts, and investors may be shocked if growth decelerates down the road.\nSea's digital entertainment bookings grew 65% y/y to $1.2 billion in Q2, but for the full year FY21, the company is guiding to only 45% y/y bookings growth, implying deceleration in the back half of the year.\nLosses and capital raise may raise eyebrows\nThe continued worry we have for Sea, however, is this: when will investors finally be unable to look past the buildup of losses? I continue to emphasize that Sea's gaming division is subsidizing its e-commerce division.Investors are primarily long on Sea for the latter, but the latter cannot stand without the profits of the former.\nFigure 2. Sea adjusted EBITDA\nSource: Sea Q2 earnings presentation\nThe chart above tells us two things:\n\nSea is not on a path to stabilization yet; the company had a -$24.1 million adjusted EBITDA loss in FY21 versus $7.7 million of profit on FY20.\nGaming's ~$300 million y/y buildup of adjusted EBITDA gains was approximately exactly enough to cover a buildup of losses of the same magnitude in e-commerce and digital financial services.\n\nIt's not all bad news for Sea: the company reported that two markets, Malaysia and Taiwan, have reported division-level EBITDA breakeven in the e-commerce segment. However, Sea's largest market of Indonesia continues to lag (and in this market, where Sea's competition versus the likes of Tokopedia is fierce, the company is chasing growth through offering deeply discounted products).\nGAAP losses are much wider than adjusted EBITDA; year-to-date through Q2, Sea has generated a GAAP loss of -$856.1 million, or a -21% net margin.\nWe note as well that Sea recently did a \"mega financing\", selling $3.5 billion of new American Depository Shares and $2.5 billion in a new convertible bond. This buffering up of cash should be a signal to the markets that Sea is going to need more liquidity support outside of its operations for quite some time.\nKey takeaways\nI don't disagree that Sea remains on a growth tear, but I remain unenthused about the company's prospects. Large losses and a heavy valuation seem like quainter concepts in the 2021 bull market, but looking ahead to 2022 when most of Wall Street is calling for choppy trading ahead may not make growth stocks like Sea the best choice. 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