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2021-07-09

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Mortgage rates slips to 2.9%, lowest in five months

2021-07-09

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3 Stocks That Turned $1,000 Into Half a Million Dollars

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22:42","market":"us","language":"en","title":"Mortgage rates slips to 2.9%, lowest in five months","url":"https://stock-news.laohu8.com/highlight/detail?id=1135220115","media":"seekingalpha","summary":"30-year fixed-rate mortgage averaged 2.90% for the week ending July 8, down from 2.98% recorded in p","content":"<ul>\n <li>30-year fixed-rate mortgage&nbsp;averaged 2.90% for the&nbsp;week ending July 8, down from 2.98% recorded in prior week and down&nbsp;from&nbsp;3.03%&nbsp;averaged&nbsp;in&nbsp;same&nbsp;period a year&nbsp;ago,according to theFreddie Mac Primary Mortgage Survey; its lowest since Feb.18 levels.</li>\n <li>\"Mortgage rates decreased this week following the dip in&nbsp;U.S.&nbsp;Treasury&nbsp;yields. While mortgage rates tend to follow Treasury yields closely, other factors can be impactful such as the labor markets, which are continuing to improve per last week’s jobs report,\" chief economist Sam Khater commented.</li>\n <li>The 10-year U.S. Treasury yield dropped below 1.3% on Wednesday, and fell another 6 bps&nbsp;overnight to 1.26%,read more.</li>\n <li>Also Read:&nbsp;Are Treasury yields sniffing out a Fed mistake?: At the Open</li>\n <li>5-year FRM averages 2.20%&nbsp;down from last week when it averaged 2.26%&nbsp;and 2.51% a year ago.</li>\n <li>5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.52%, down from 2.54% in prior week, and lower from 3.02% a year ago.</li>\n <li>\"We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover ~3%,\" Khater continued.</li>\n <li>\"While longer-term changes in&nbsp;rates&nbsp;are likely to be to the upside, the shift in the market's outlook suggests that&nbsp;rates&nbsp;have little reason to move sharply higher anytime soon\" Zillow economist Matthew Speakman commented.</li>\n <li>Fannie Mae's new survey indicated that Americans were growing even more pessimistic about the prospect of buying a home these days, in light of the low supply of listings and rising prices;&nbsp;chief economist Doug Duncan projected that home-buying demand would remain strong through the rest of 2021.</li>\n <li>Mortgage REITs:(NYSE:CIM),(NASDAQ:AGNC)and(NYSE:NLY)are trading in red today while homebuilder stocks:(NYSE:DHI),(NYSE:LEN),(NYSE:PHM),(NYSE:TMHC),(NYSE:KBH),(NASDAQ:LGIH)are also trading in red.</li>\n <li>ETFs Watch:(BATS:ITB),(BATS:REM),(NASDAQ:IEF),(NYSEARCA:XHB),(NYSEARCA:IYR),(NYSEARCA:PKB)</li>\n</ul>","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>Mortgage rates slips to 2.9%, lowest in five months</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\">\nMortgage rates slips to 2.9%, lowest in five months\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-08 22:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3713678-mortgage-rates-slips-to-29-lowest-in-five-months><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>30-year fixed-rate mortgage averaged 2.90% for the week ending July 8, down from 2.98% recorded in prior week and down from 3.03% averaged in same period a year ago,according to theFreddie Mac Primary...</p>\n\n<a href=\"https://seekingalpha.com/news/3713678-mortgage-rates-slips-to-29-lowest-in-five-months\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CIM":"奇美拉投资","FMCC":"房地美"},"source_url":"https://seekingalpha.com/news/3713678-mortgage-rates-slips-to-29-lowest-in-five-months","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1135220115","content_text":"30-year fixed-rate mortgage averaged 2.90% for the week ending July 8, down from 2.98% recorded in prior week and down from 3.03% averaged in same period a year ago,according to theFreddie Mac Primary Mortgage Survey; its lowest since Feb.18 levels.\n\"Mortgage rates decreased this week following the dip in U.S. Treasury yields. While mortgage rates tend to follow Treasury yields closely, other factors can be impactful such as the labor markets, which are continuing to improve per last week’s jobs report,\" chief economist Sam Khater commented.\nThe 10-year U.S. Treasury yield dropped below 1.3% on Wednesday, and fell another 6 bps overnight to 1.26%,read more.\nAlso Read: Are Treasury yields sniffing out a Fed mistake?: At the Open\n5-year FRM averages 2.20% down from last week when it averaged 2.26% and 2.51% a year ago.\n5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.52%, down from 2.54% in prior week, and lower from 3.02% a year ago.\n\"We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover ~3%,\" Khater continued.\n\"While longer-term changes in rates are likely to be to the upside, the shift in the market's outlook suggests that rates have little reason to move sharply higher anytime soon\" Zillow economist Matthew Speakman commented.\nFannie Mae's new survey indicated that Americans were growing even more pessimistic about the prospect of buying a home these days, in light of the low supply of listings and rising prices; chief economist Doug Duncan projected that home-buying demand would remain strong through the rest of 2021.\nMortgage REITs:(NYSE:CIM),(NASDAQ:AGNC)and(NYSE:NLY)are trading in red today while homebuilder stocks:(NYSE:DHI),(NYSE:LEN),(NYSE:PHM),(NYSE:TMHC),(NYSE:KBH),(NASDAQ:LGIH)are also trading in red.\nETFs Watch:(BATS:ITB),(BATS:REM),(NASDAQ:IEF),(NYSEARCA:XHB),(NYSEARCA:IYR),(NYSEARCA:PKB)","news_type":1},"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143424192,"gmtCreate":1625811434516,"gmtModify":1631890333191,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/143424192","repostId":"2149121328","repostType":4,"repost":{"id":"2149121328","kind":"highlight","pubTimestamp":1625797380,"share":"https://www.laohu8.com/m/news/2149121328?lang=&edition=full","pubTime":"2021-07-09 10:23","market":"us","language":"en","title":"3 Stocks That Turned $1,000 Into Half a Million Dollars","url":"https://stock-news.laohu8.com/highlight/detail?id=2149121328","media":"Motley Fool","summary":"A look at why these stocks have outperformed and what investors can take away from them.","content":"<p>If you had invested $1,000 each in the stock of trucking company <b><a href=\"https://laohu8.com/S/ODFL\">Old Dominion Freight Line</a></b> (NASDAQ:ODFL), food equipment company <b>Middleby</b> (NASDAQ:MIDD), and paint and coatings company <b>Sherwin-Williams</b> (NYSE:SHW) 20 years ago, you would be worth more than $525,000 by now. While it's easy to look at such things in hindsight, perhaps there's value in looking at some of the lessons learned and then applying them to investments now. So with that in mind, let's take a closer look at why all three industrial stocks have done so well.<img src=\"https://static.tigerbbs.com/0e204bbe49952bdc4f43415a6ff71e7c\" tg-width=\"720\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Data by YCharts</p>\n<h2>Old Dominion Freight Line</h2>\n<p>The trucking company specializes in a niche market of the transportation industry, namely less-than-truckload (LTL) shipping. In a nutshell, LTL means a customer's freight is combined with other shippers' freight and then transported between several terminals to its final destination. This is distinct from full-truckload (FTL) shipping whereby a customer's shipment is loaded onto a dedicated truck and then taken directly to its final destination.</p>\n<p><img src=\"https://static.tigerbbs.com/4b655e42575ee0ca717cad36b6dd5615\" tg-width=\"700\" tg-height=\"374\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<p>The key benefit of LTL is that shippers can send smaller shipments. This is a significant benefit to shippers who need to ensure a steady stream of shipments, such as securing e-commerce deliveries or maintaining inventory in a warehouse/store. Hence, it's quickly available for customers.</p>\n<p>As such, it's not hard to see that the LTL industry has benefited from the growth in e-commerce, notably from small businesses. Also, the development of e-commerce has pressured retailers to guarantee the availability of products in-store -- good news for Old Dominion.</p>\n<p>The company has an admirer in the leading figure in transportation in the U.S. <b>FedEx</b> founder and CEO Fred Smith noted on an earnings call, \"they've been very brilliant in finding a niche that's, for lack of a better term, near TL. It's in that zone between LTL and TL, and their average weight per shipment in a much more dense network is about 350 pounds, 400 pounds higher. So, their margins are outstanding.\"</p>\n<p>The rise of Old Dominion's share price is an example of a top-class operator focused on a niche market that has benefited from positive long-term shifts in demand. Moreover, it demonstrates what happens when a company focuses on what it does best.</p>\n<h2>Middleby</h2>\n<p>The food equipment company's astonishing performance can be attributed to a highly successful acquisition strategy. According to Middleby's SEC filings, \"The company has pursued a strategy to acquire and assemble a leading portfolio of brands and technologies for each of its three business segments.\"</p>\n<p>The commercial food service segment (66 different brands) sells into quick-service restaurants, convenience stores, supermarkets, hotels, etc. The food processing segment (21 different brands) sells cooking and baking equipment into food processing companies. While the residential kitchen segment sells a wide range of equipment across its 17 different brands.</p>\n<p>Middleby's story has been <a href=\"https://laohu8.com/S/AONE\">one</a> of acquisition-led growth. Still, as you can see below, even as its debt has risen (taken to fund acquisitions), the company's debt-to-equity ratio is manageable. In other words, this isn't a story about chasing growth through reckless acquisitions.</p>\n<p><img src=\"https://static.tigerbbs.com/3136cd3e1ca945571db09329f240b4b6\" tg-width=\"720\" tg-height=\"387\" referrerpolicy=\"no-referrer\"></p>\n<p>Data by YCharts</p>\n<p>All told, Middleby's stock success demonstrates what happens when management actively pursues acquisition-led growth within a growth industry.</p>\n<h2>Sherwin-Williams</h2>\n<p>The paint and coatings company's success speaks to a combination of the paint and coatings industry's fundamental attractiveness and the potential for growth through consolidating an industry.</p>\n<p>As long as physical assets are created (housing, automobiles, airplanes, ships, packaging, etc.), they will need to be coated. In addition, it's a market that implies a significant amount of recurring revenue -- cars need to be repainted, houses refurbished, etc. As such, the industry's market position is stable.</p>\n<p><img src=\"https://static.tigerbbs.com/5fe5fc358903e44943689c2ad011ae0d\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<p>In addition, the leading players like Sherwin-Williams and <b>PPG</b> have been consolidating a highly-fragmented industry through an ongoing wave of acquisitions&nbsp;such as Sherwin-Williams' $11.3 billion acquisition of Valspar in 2017.</p>\n<p>The chart below shows the high return on equity (net income divided by shareholder's equity) generated in the industry and the upward trend in profit margin that often happens when industries consolidate and build scale.</p>\n<p><img src=\"https://static.tigerbbs.com/21879cb52bcb1d70e18628aace5bd472\" tg-width=\"720\" tg-height=\"387\" referrerpolicy=\"no-referrer\"></p>\n<p>Data by YCharts</p>\n<h2>Finding the next big winner</h2>\n<p>All told, Old Dominion highlights the benefit of being a highly-skilled operator in a niche growth market. Likewise, Middleby represents a skilled management team buying growth in a growth industry, and Sherwin-Williams shows the power of consolidating a fragmented market.</p>","source":"fool_stock","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>3 Stocks That Turned $1,000 Into Half a Million Dollars</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\">\n3 Stocks That Turned $1,000 Into Half a Million Dollars\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-09 10:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/07/08/3-stocks-turned-1000-into-half-a-million-dollars/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If you had invested $1,000 each in the stock of trucking company Old Dominion Freight Line (NASDAQ:ODFL), food equipment company Middleby (NASDAQ:MIDD), and paint and coatings company Sherwin-Williams...</p>\n\n<a href=\"https://www.fool.com/investing/2021/07/08/3-stocks-turned-1000-into-half-a-million-dollars/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/07/08/3-stocks-turned-1000-into-half-a-million-dollars/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149121328","content_text":"If you had invested $1,000 each in the stock of trucking company Old Dominion Freight Line (NASDAQ:ODFL), food equipment company Middleby (NASDAQ:MIDD), and paint and coatings company Sherwin-Williams (NYSE:SHW) 20 years ago, you would be worth more than $525,000 by now. While it's easy to look at such things in hindsight, perhaps there's value in looking at some of the lessons learned and then applying them to investments now. So with that in mind, let's take a closer look at why all three industrial stocks have done so well.\nData by YCharts\nOld Dominion Freight Line\nThe trucking company specializes in a niche market of the transportation industry, namely less-than-truckload (LTL) shipping. In a nutshell, LTL means a customer's freight is combined with other shippers' freight and then transported between several terminals to its final destination. This is distinct from full-truckload (FTL) shipping whereby a customer's shipment is loaded onto a dedicated truck and then taken directly to its final destination.\n\nImage source: Getty Images.\nThe key benefit of LTL is that shippers can send smaller shipments. This is a significant benefit to shippers who need to ensure a steady stream of shipments, such as securing e-commerce deliveries or maintaining inventory in a warehouse/store. Hence, it's quickly available for customers.\nAs such, it's not hard to see that the LTL industry has benefited from the growth in e-commerce, notably from small businesses. Also, the development of e-commerce has pressured retailers to guarantee the availability of products in-store -- good news for Old Dominion.\nThe company has an admirer in the leading figure in transportation in the U.S. FedEx founder and CEO Fred Smith noted on an earnings call, \"they've been very brilliant in finding a niche that's, for lack of a better term, near TL. It's in that zone between LTL and TL, and their average weight per shipment in a much more dense network is about 350 pounds, 400 pounds higher. So, their margins are outstanding.\"\nThe rise of Old Dominion's share price is an example of a top-class operator focused on a niche market that has benefited from positive long-term shifts in demand. Moreover, it demonstrates what happens when a company focuses on what it does best.\nMiddleby\nThe food equipment company's astonishing performance can be attributed to a highly successful acquisition strategy. According to Middleby's SEC filings, \"The company has pursued a strategy to acquire and assemble a leading portfolio of brands and technologies for each of its three business segments.\"\nThe commercial food service segment (66 different brands) sells into quick-service restaurants, convenience stores, supermarkets, hotels, etc. The food processing segment (21 different brands) sells cooking and baking equipment into food processing companies. While the residential kitchen segment sells a wide range of equipment across its 17 different brands.\nMiddleby's story has been one of acquisition-led growth. Still, as you can see below, even as its debt has risen (taken to fund acquisitions), the company's debt-to-equity ratio is manageable. In other words, this isn't a story about chasing growth through reckless acquisitions.\n\nData by YCharts\nAll told, Middleby's stock success demonstrates what happens when management actively pursues acquisition-led growth within a growth industry.\nSherwin-Williams\nThe paint and coatings company's success speaks to a combination of the paint and coatings industry's fundamental attractiveness and the potential for growth through consolidating an industry.\nAs long as physical assets are created (housing, automobiles, airplanes, ships, packaging, etc.), they will need to be coated. In addition, it's a market that implies a significant amount of recurring revenue -- cars need to be repainted, houses refurbished, etc. As such, the industry's market position is stable.\n\nImage source: Getty Images.\nIn addition, the leading players like Sherwin-Williams and PPG have been consolidating a highly-fragmented industry through an ongoing wave of acquisitions such as Sherwin-Williams' $11.3 billion acquisition of Valspar in 2017.\nThe chart below shows the high return on equity (net income divided by shareholder's equity) generated in the industry and the upward trend in profit margin that often happens when industries consolidate and build scale.\n\nData by YCharts\nFinding the next big winner\nAll told, Old Dominion highlights the benefit of being a highly-skilled operator in a niche growth market. Likewise, Middleby represents a skilled management team buying growth in a growth industry, and Sherwin-Williams shows the power of consolidating a fragmented market.","news_type":1},"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151116206,"gmtCreate":1625067244405,"gmtModify":1631890333216,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151116206","repostId":"1153116027","repostType":4,"repost":{"id":"1153116027","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":1625065414,"share":"https://www.laohu8.com/m/news/1153116027?lang=&edition=full","pubTime":"2021-06-30 23:03","market":"us","language":"en","title":"Clear Secure spikes 34% on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1153116027","media":"Tiger Newspress","summary":"Coupang shares opened at $38.66 each on Wednesday, about 34% higher than the company’s IPO price.\n\nQ","content":"<p>Coupang shares opened at $38.66&nbsp;each on Wednesday, about 34% higher than the company’s IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/7f9504efc022356069cbe31bc7d9fd4c\" tg-width=\"840\" tg-height=\"470\"></p>\n<p><b>Quick Take</b></p>\n<p>Clear Secure (YOU) as filed to raise $376 million in an IPO of its Class A common stock, according to an S-1/Aregistration statement.</p>\n<p>The firm provides membership-based security enrollment services for access to various public and private venues.</p>\n<p>YOU produced contracting topline revenue and related metrics in Q1 2021 and the IPO appears pricey, so I'll pass on the IPO.</p>\n<p><b>Company &amp; Technology</b></p>\n<p>New York, New York-based Clear Secure was founded to create a security platform enabling subscribers to demonstrate their identity and receive faster or more convenient access to venues and transportation systems in the U.S.</p>\n<p>Management is headed by Chair and CEO Ms. Caryn Seidman-Becker, who has been with the firm since 2010 and was previously founder of Arience Capital and managing director at Iridian Asset Management.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>CLEAR - venue access subscription service</li>\n <li>CLEAR Plus - CLEAR plus aviation system access subscription service</li>\n <li>Health Pass - health identity connected to digital health credential</li>\n</ul>\n<p>Clear Secure has received at least $651 million in equity investment from investors including Alclear Investments, T. Rowe Price &amp; Associates Funds, General Atlantic, William Miller III, Delta Air Lines and Durable Capital.</p>\n<p><b>Customer/User Acquisition</b></p>\n<p>The firm has focused its direct sales &amp; marketing efforts on U.S. airports, stadiums and major venues.</p>\n<p>As of May 31, 2021, it counted 38 airports, 26 sports and entertainment venues and 67 Health Pass-enabled partners and events for 100 unique locations as well as numerous offices, theaters, casinos, theme parks and restaurants.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have fluctuated as revenues have varied, as the figures below indicate:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/b771264433e9ae9822f0c8f3ff09e491\" tg-width=\"552\" tg-height=\"274\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, swung to a negative 2.2x in the most recent reporting period, as shown in the table below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/3579f0c3282e320968d830529b1e5ecc\" tg-width=\"553\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The firm’s CLEAR Plus member retention rate for 2020 was 78.8%. Management said it expects the negative effects of the COVID-19 pandemic to affect its airport enrollments and business in 2021 and beyond.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2018 marketresearch reportby Fortune Business Insights, the global stadium security market was an estimated $6.2 billion in 2017 and is forecast to reach $16 billion by 2025.</p>\n<p>This represents a forecast CAGR of 12.8% from 2018 to 2025.</p>\n<p>The main drivers for this expected growth are a rise in terrorist threat scenarios as well as a need to handle large crowds in a safe manner.</p>\n<p>Also, stadium and venue owners are seeking advanced security measures as more options become available.</p>\n<p>Below is a chart showing the stadium security market historical and forecast growth trajectory:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/6156ca7be4be93d813c09e0d9e25f4fd\" tg-width=\"1280\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>(Source)</p>\n<p>Notably, the software &amp; services segment was expected to grow at the fastest rate through 2025.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li>Telos Identity</li>\n <li>Idemia Identity &amp; Security</li>\n <li>PricewaterhouseCoopers</li>\n <li>Salesforce</li>\n <li>IBM</li>\n <li>Amazon</li>\n <li>Apple</li>\n <li>Facebook</li>\n <li>Google</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Clear Secure’s recent financial results can be summarized as follows:</p>\n<ul>\n <li>Contracting topline revenue in Q1 2021</li>\n <li>Reduced gross profit and fluctuating gross margin</li>\n <li>Increased operating losses</li>\n <li>Uneven cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/9fd36b19e2a8c0722e8f5234e3d89e93\" tg-width=\"554\" tg-height=\"559\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/830d7c058bba120b50f65f4569a16e85\" tg-width=\"551\" tg-height=\"557\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/14b46d1fd8cd4d7cf5dbbec6b9e03797\" tg-width=\"556\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>As of March 31, 2021, Clear Secure had $176 million in cash and $161.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>Clear Secure intends to raise $376 million in gross proceeds from an IPO of its Class A common stock, offering 13.2 million shares at a proposed midpoint price of $28.50 per share.</p>\n<p>Class A and Class C common stockholders will be entitled to receive one vote per share and Class B and Class D shareholders will have 20 votes per share.</p>\n<p>The S&amp;P 500 Index no longer admits firms with multiple classes of stock into its index.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO, the company’s enterprise value at IPO would approximate $3.7 billion, excluding the effects of underwriter over-allotment options.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 8.93%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Management says it will use the net proceeds from the IPO as follows:</p>\n<blockquote>\n We intend to contribute the net proceeds from this offering to Alclear in exchange for a number of Alclear Units equal to the contribution amount divided by the price paid by the underwriters for shares of our Class A common stock in this offering (13,200,000 Alclear Units at the midpoint of the estimated public offering price range set forth on the cover page of this prospectus or, if the underwriters exercise their option to purchase additional shares in full, 15,180,000 Alclear Units), and to cause Alclear to use such contributed amount to pay offering expenses and for general corporate purposes. (Source)\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Allen &amp; Company, Wells Fargo Securities, LionTree, Stifel, Telsey Advisory Group, Centerview Partners, Loop Capital Markets and Roberts &amp; Ryan.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of relevant capitalization and valuation figures for the company:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/0bee8c66f2a51c304ca1719144766210\" tg-width=\"553\" tg-height=\"641\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p><b>Commentary</b></p>\n<p>Clear Secure is seeking public investment capital for unspecified future corporate expansion plans.</p>\n<p>The company’s financials showed resilience in 2020 but a significant drop in topline revenue in Q1 2021 and continued operating losses with a lack of path to operating breakeven.</p>\n<p>Free cash flow for the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have varied as revenue has fluctuated; its Sales and Marketing efficiency rate swung to a negative 2.2x in the most recent reporting period.</p>\n<p>The market opportunity for providing preferred venue and travel access services is significant but has been affected negatively by the COVID-19 pandemic, at least in the short term.</p>\n<p>Management responded by developing its Health Pass service during 2020.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 46.6% since their IPO. This is a top-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the ongoing uncertainties brought about by the COVID-19 pandemic and changing consumer habits.</p>\n<p>As for valuation, YOU is primarily a subscription-based business and is asking investors at IPO to pay an Enterprise Value / Revenue multiple of 16.8x, which is well above the typical software-based SaaS public stock median, as shown below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/e400ff06b7afa10def8dee92ad2826f0\" tg-width=\"1093\" tg-height=\"744\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p>I’m also concerned by the contraction in topline revenue and related metrics in Q1 2021...not a good result leading into the IPO.</p>\n<p>I'll watch the IPO from the sidelines.</p>\n<p>Expected IPO Pricing Date: June 29, 2021</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>Clear Secure spikes 34% on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nClear Secure spikes 34% on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-30 23:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Coupang shares opened at $38.66&nbsp;each on Wednesday, about 34% higher than the company’s IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/7f9504efc022356069cbe31bc7d9fd4c\" tg-width=\"840\" tg-height=\"470\"></p>\n<p><b>Quick Take</b></p>\n<p>Clear Secure (YOU) as filed to raise $376 million in an IPO of its Class A common stock, according to an S-1/Aregistration statement.</p>\n<p>The firm provides membership-based security enrollment services for access to various public and private venues.</p>\n<p>YOU produced contracting topline revenue and related metrics in Q1 2021 and the IPO appears pricey, so I'll pass on the IPO.</p>\n<p><b>Company &amp; Technology</b></p>\n<p>New York, New York-based Clear Secure was founded to create a security platform enabling subscribers to demonstrate their identity and receive faster or more convenient access to venues and transportation systems in the U.S.</p>\n<p>Management is headed by Chair and CEO Ms. Caryn Seidman-Becker, who has been with the firm since 2010 and was previously founder of Arience Capital and managing director at Iridian Asset Management.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>CLEAR - venue access subscription service</li>\n <li>CLEAR Plus - CLEAR plus aviation system access subscription service</li>\n <li>Health Pass - health identity connected to digital health credential</li>\n</ul>\n<p>Clear Secure has received at least $651 million in equity investment from investors including Alclear Investments, T. Rowe Price &amp; Associates Funds, General Atlantic, William Miller III, Delta Air Lines and Durable Capital.</p>\n<p><b>Customer/User Acquisition</b></p>\n<p>The firm has focused its direct sales &amp; marketing efforts on U.S. airports, stadiums and major venues.</p>\n<p>As of May 31, 2021, it counted 38 airports, 26 sports and entertainment venues and 67 Health Pass-enabled partners and events for 100 unique locations as well as numerous offices, theaters, casinos, theme parks and restaurants.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have fluctuated as revenues have varied, as the figures below indicate:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/b771264433e9ae9822f0c8f3ff09e491\" tg-width=\"552\" tg-height=\"274\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, swung to a negative 2.2x in the most recent reporting period, as shown in the table below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/3579f0c3282e320968d830529b1e5ecc\" tg-width=\"553\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The firm’s CLEAR Plus member retention rate for 2020 was 78.8%. Management said it expects the negative effects of the COVID-19 pandemic to affect its airport enrollments and business in 2021 and beyond.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2018 marketresearch reportby Fortune Business Insights, the global stadium security market was an estimated $6.2 billion in 2017 and is forecast to reach $16 billion by 2025.</p>\n<p>This represents a forecast CAGR of 12.8% from 2018 to 2025.</p>\n<p>The main drivers for this expected growth are a rise in terrorist threat scenarios as well as a need to handle large crowds in a safe manner.</p>\n<p>Also, stadium and venue owners are seeking advanced security measures as more options become available.</p>\n<p>Below is a chart showing the stadium security market historical and forecast growth trajectory:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/6156ca7be4be93d813c09e0d9e25f4fd\" tg-width=\"1280\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>(Source)</p>\n<p>Notably, the software &amp; services segment was expected to grow at the fastest rate through 2025.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li>Telos Identity</li>\n <li>Idemia Identity &amp; Security</li>\n <li>PricewaterhouseCoopers</li>\n <li>Salesforce</li>\n <li>IBM</li>\n <li>Amazon</li>\n <li>Apple</li>\n <li>Facebook</li>\n <li>Google</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Clear Secure’s recent financial results can be summarized as follows:</p>\n<ul>\n <li>Contracting topline revenue in Q1 2021</li>\n <li>Reduced gross profit and fluctuating gross margin</li>\n <li>Increased operating losses</li>\n <li>Uneven cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/9fd36b19e2a8c0722e8f5234e3d89e93\" tg-width=\"554\" tg-height=\"559\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/830d7c058bba120b50f65f4569a16e85\" tg-width=\"551\" tg-height=\"557\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/14b46d1fd8cd4d7cf5dbbec6b9e03797\" tg-width=\"556\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>As of March 31, 2021, Clear Secure had $176 million in cash and $161.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>Clear Secure intends to raise $376 million in gross proceeds from an IPO of its Class A common stock, offering 13.2 million shares at a proposed midpoint price of $28.50 per share.</p>\n<p>Class A and Class C common stockholders will be entitled to receive one vote per share and Class B and Class D shareholders will have 20 votes per share.</p>\n<p>The S&amp;P 500 Index no longer admits firms with multiple classes of stock into its index.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO, the company’s enterprise value at IPO would approximate $3.7 billion, excluding the effects of underwriter over-allotment options.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 8.93%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Management says it will use the net proceeds from the IPO as follows:</p>\n<blockquote>\n We intend to contribute the net proceeds from this offering to Alclear in exchange for a number of Alclear Units equal to the contribution amount divided by the price paid by the underwriters for shares of our Class A common stock in this offering (13,200,000 Alclear Units at the midpoint of the estimated public offering price range set forth on the cover page of this prospectus or, if the underwriters exercise their option to purchase additional shares in full, 15,180,000 Alclear Units), and to cause Alclear to use such contributed amount to pay offering expenses and for general corporate purposes. (Source)\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Allen &amp; Company, Wells Fargo Securities, LionTree, Stifel, Telsey Advisory Group, Centerview Partners, Loop Capital Markets and Roberts &amp; Ryan.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of relevant capitalization and valuation figures for the company:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/0bee8c66f2a51c304ca1719144766210\" tg-width=\"553\" tg-height=\"641\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p><b>Commentary</b></p>\n<p>Clear Secure is seeking public investment capital for unspecified future corporate expansion plans.</p>\n<p>The company’s financials showed resilience in 2020 but a significant drop in topline revenue in Q1 2021 and continued operating losses with a lack of path to operating breakeven.</p>\n<p>Free cash flow for the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have varied as revenue has fluctuated; its Sales and Marketing efficiency rate swung to a negative 2.2x in the most recent reporting period.</p>\n<p>The market opportunity for providing preferred venue and travel access services is significant but has been affected negatively by the COVID-19 pandemic, at least in the short term.</p>\n<p>Management responded by developing its Health Pass service during 2020.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 46.6% since their IPO. This is a top-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the ongoing uncertainties brought about by the COVID-19 pandemic and changing consumer habits.</p>\n<p>As for valuation, YOU is primarily a subscription-based business and is asking investors at IPO to pay an Enterprise Value / Revenue multiple of 16.8x, which is well above the typical software-based SaaS public stock median, as shown below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/e400ff06b7afa10def8dee92ad2826f0\" tg-width=\"1093\" tg-height=\"744\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p>I’m also concerned by the contraction in topline revenue and related metrics in Q1 2021...not a good result leading into the IPO.</p>\n<p>I'll watch the IPO from the sidelines.</p>\n<p>Expected IPO Pricing Date: June 29, 2021</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YOU":"Clear Secure, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153116027","content_text":"Coupang shares opened at $38.66 each on Wednesday, about 34% higher than the company’s IPO price.\n\nQuick Take\nClear Secure (YOU) as filed to raise $376 million in an IPO of its Class A common stock, according to an S-1/Aregistration statement.\nThe firm provides membership-based security enrollment services for access to various public and private venues.\nYOU produced contracting topline revenue and related metrics in Q1 2021 and the IPO appears pricey, so I'll pass on the IPO.\nCompany & Technology\nNew York, New York-based Clear Secure was founded to create a security platform enabling subscribers to demonstrate their identity and receive faster or more convenient access to venues and transportation systems in the U.S.\nManagement is headed by Chair and CEO Ms. Caryn Seidman-Becker, who has been with the firm since 2010 and was previously founder of Arience Capital and managing director at Iridian Asset Management.\nThe company’s primary offerings include:\n\nCLEAR - venue access subscription service\nCLEAR Plus - CLEAR plus aviation system access subscription service\nHealth Pass - health identity connected to digital health credential\n\nClear Secure has received at least $651 million in equity investment from investors including Alclear Investments, T. Rowe Price & Associates Funds, General Atlantic, William Miller III, Delta Air Lines and Durable Capital.\nCustomer/User Acquisition\nThe firm has focused its direct sales & marketing efforts on U.S. airports, stadiums and major venues.\nAs of May 31, 2021, it counted 38 airports, 26 sports and entertainment venues and 67 Health Pass-enabled partners and events for 100 unique locations as well as numerous offices, theaters, casinos, theme parks and restaurants.\nSales and Marketing expenses as a percentage of total revenue have fluctuated as revenues have varied, as the figures below indicate:\n\n\n\n\nThe Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, swung to a negative 2.2x in the most recent reporting period, as shown in the table below:\n\n\n\n\nThe firm’s CLEAR Plus member retention rate for 2020 was 78.8%. Management said it expects the negative effects of the COVID-19 pandemic to affect its airport enrollments and business in 2021 and beyond.\nMarket & Competition\nAccording to a 2018 marketresearch reportby Fortune Business Insights, the global stadium security market was an estimated $6.2 billion in 2017 and is forecast to reach $16 billion by 2025.\nThis represents a forecast CAGR of 12.8% from 2018 to 2025.\nThe main drivers for this expected growth are a rise in terrorist threat scenarios as well as a need to handle large crowds in a safe manner.\nAlso, stadium and venue owners are seeking advanced security measures as more options become available.\nBelow is a chart showing the stadium security market historical and forecast growth trajectory:\n\n\n\n\n(Source)\nNotably, the software & services segment was expected to grow at the fastest rate through 2025.\nMajor competitive or other industry participants include:\n\nTelos Identity\nIdemia Identity & Security\nPricewaterhouseCoopers\nSalesforce\nIBM\nAmazon\nApple\nFacebook\nGoogle\n\nFinancial Performance\nClear Secure’s recent financial results can be summarized as follows:\n\nContracting topline revenue in Q1 2021\nReduced gross profit and fluctuating gross margin\nIncreased operating losses\nUneven cash flow from operations\n\nBelow are relevant financial results derived from the firm’s registration statement:\n\n\n\n\n\n\n\n\nAs of March 31, 2021, Clear Secure had $176 million in cash and $161.8 million in total liabilities.\nFree cash flow during the twelve months ended March 31, 2021, was $8.2 million.\nIPO Details\nClear Secure intends to raise $376 million in gross proceeds from an IPO of its Class A common stock, offering 13.2 million shares at a proposed midpoint price of $28.50 per share.\nClass A and Class C common stockholders will be entitled to receive one vote per share and Class B and Class D shareholders will have 20 votes per share.\nThe S&P 500 Index no longer admits firms with multiple classes of stock into its index.\nNo existing shareholders have indicated an interest to purchase shares at the IPO price.\nAssuming a successful IPO, the company’s enterprise value at IPO would approximate $3.7 billion, excluding the effects of underwriter over-allotment options.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 8.93%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.\nManagement says it will use the net proceeds from the IPO as follows:\n\n We intend to contribute the net proceeds from this offering to Alclear in exchange for a number of Alclear Units equal to the contribution amount divided by the price paid by the underwriters for shares of our Class A common stock in this offering (13,200,000 Alclear Units at the midpoint of the estimated public offering price range set forth on the cover page of this prospectus or, if the underwriters exercise their option to purchase additional shares in full, 15,180,000 Alclear Units), and to cause Alclear to use such contributed amount to pay offering expenses and for general corporate purposes. (Source)\n\nManagement’s presentation of the company roadshow isavailable here.\nListed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Allen & Company, Wells Fargo Securities, LionTree, Stifel, Telsey Advisory Group, Centerview Partners, Loop Capital Markets and Roberts & Ryan.\nValuation Metrics\nBelow is a table of relevant capitalization and valuation figures for the company:\n\n\n\n\nCommentary\nClear Secure is seeking public investment capital for unspecified future corporate expansion plans.\nThe company’s financials showed resilience in 2020 but a significant drop in topline revenue in Q1 2021 and continued operating losses with a lack of path to operating breakeven.\nFree cash flow for the twelve months ended March 31, 2021, was $8.2 million.\nSales and Marketing expenses as a percentage of total revenue have varied as revenue has fluctuated; its Sales and Marketing efficiency rate swung to a negative 2.2x in the most recent reporting period.\nThe market opportunity for providing preferred venue and travel access services is significant but has been affected negatively by the COVID-19 pandemic, at least in the short term.\nManagement responded by developing its Health Pass service during 2020.\nGoldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 46.6% since their IPO. This is a top-tier performance for all major underwriters during the period.\nThe primary risk to the company’s outlook is the ongoing uncertainties brought about by the COVID-19 pandemic and changing consumer habits.\nAs for valuation, YOU is primarily a subscription-based business and is asking investors at IPO to pay an Enterprise Value / Revenue multiple of 16.8x, which is well above the typical software-based SaaS public stock median, as shown below:\n\n\n\nI’m also concerned by the contraction in topline revenue and related metrics in Q1 2021...not a good result leading into the IPO.\nI'll watch the IPO from the sidelines.\nExpected IPO Pricing Date: June 29, 2021","news_type":1},"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151113629,"gmtCreate":1625067069661,"gmtModify":1631890333221,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"go go","listText":"go go","text":"go go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151113629","repostId":"1105779613","repostType":4,"repost":{"id":"1105779613","kind":"news","pubTimestamp":1625062867,"share":"https://www.laohu8.com/m/news/1105779613?lang=&edition=full","pubTime":"2021-06-30 22:21","market":"us","language":"en","title":"Tesla Stall Shows Wall Street Rift on Stratospheric Stock Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1105779613","media":"Bloomberg","summary":"One analyst sees it rising to $1,200, another tumbling to $150. Competitive threats build after meteoric 2020 stock surge. Few companies have been as polarizing on Wall Street as Tesla Inc.-- and the lackluster run this year has done nothing to lessen it.To Piper Sandler & Co.’s Alexander Potter, the company’s potential dominance of the electric-car business warrants a $1,200 stock-price target, nearly double its $680.76 close on Tuesday. To Craig Irwin of Roth Capital Partners, as rivals move t","content":"<ul>\n <li>One analyst sees it rising to $1,200, another tumbling to $150</li>\n <li>Competitive threats build after meteoric 2020 stock surge</li>\n</ul>\n<p>Few companies have been as polarizing on Wall Street as&nbsp;Tesla Inc.-- and the lackluster run this year has done nothing to lessen it.</p>\n<p>To&nbsp;Piper Sandler &amp; Co.’s Alexander Potter, the company’s potential dominance of the electric-car business&nbsp;warrants&nbsp;a $1,200 stock-price target, nearly double its $680.76 close on Tuesday. To Craig Irwin of Roth Capital Partners, as rivals move to pick off a head start that turned Tesla into the world’s most highly valued car company, the stock will sink to $150.</p>\n<p>The divergence illustrates the tension that has sent Tesla shares toward a 4% loss during the first half of the year even as rival automakers surged ahead. That’s a marked contrast to its more than 8-fold jump last year and reflects investors’ doubts about heady growth expectations for the company in the face of stronger competitive threats and signs of a sales slowdown in China.</p>\n<p>“For a long time Tesla was the only credible player in the high-quality EV market, and we are seeing that starting to change,” said JoAnne Feeney, portfolio manager atAdvisorsCapital Management, who said the company’s current valuation assumes it will become the biggest seller of cars in the U.S. “That seems to be an awful lot to ask.”</p>\n<p><img src=\"https://static.tigerbbs.com/fb8f7a35e4b2bc516159737958ead3d4\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p>\n<p>Tesla sold about half a million cars worldwide in 2020, accounting for a fraction of even the 14.5 million light vehicles sold in the U.S., and it’s facing threats from traditional automakers such as&nbsp;General Motors Co.,Ford Motor Co.&nbsp;and&nbsp;Volkswagen AG&nbsp;that are launching their own electric-vehicle lineups. In China, Tesla’s lead over other startups has already started to shrink, according to&nbsp;UBS Group AG&nbsp;analyst Patrick Hummel.</p>\n<p>That competition poses a separate challenge to the company’s bottom line: Tesla has profited from selling carbon-offset credits to other carmakers that haven’t met their emissions targets. But the more its rivals’ sales of electric vehicles take off, the more that source of revenue will drop.</p>\n<p>Yet Tesla’s stock-market valuation is based on the expectation of steep growth, giving it little room for error. It’s currently trading at more than 650 times earnings per share, according to data compiled by Bloomberg. That compares with a multiple of 30 for the S&amp;P 500 Index.</p>\n<p>“Tesla’s market valuation is vastly over optimistic, ignoring the over 500 EV models that will be on the road by the end of 2025,” said&nbsp;Roth Capital’s Irwin. “Tesla does not operate in a vacuum and many companies have better technology.”</p>\n<p>The company will be reporting second-quarter delivery figures later this week, a major catalyst that analysts and investors will be keenly watching.</p>\n<p><img src=\"https://static.tigerbbs.com/6d2dd8d41a7f20e74bd44de1c344d6a0\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p>\n<p>But Tesla bulls are confident that the company’s valuation will be justified if it comes to dominate the industry, much like tech behemoths&nbsp;Alphabet Inc.,FaceBook Inc.&nbsp;and&nbsp;Amazon.com Inc&nbsp;.have come to lord over their’s.</p>\n<p>Others just see it as a pause for Tesla shares as investors come to terms with the surging valuation last year, when markets leaned heavily onto growth stocks as the pandemic shut down much of the global economy. That influx has started to shift this year in the so-called reflation trade, with funds moving back into stocks more likely to benefit from the recovery.</p>\n<p>Cathie Wood’s&nbsp;Ark Investment Management, which had a 0.6% stake in Tesla as of March 31 and is an ardent backer of the company, remains steadfast in its support despite the stock’s showing this year. Ark expects it to benefit from rising electric vehicle sales and sees even odds that it will deliver fully self-driven cars in four years.</p>\n<p>If all goes as planned? Ark forecasts the stock will reach $3,000 in 2025.</p>","source":"lsy1584095487587","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 Stall Shows Wall Street Rift on Stratospheric Stock Value</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 Stall Shows Wall Street Rift on Stratospheric Stock Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 22:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-30/tesla-stall-shows-wall-street-rift-on-stratospheric-stock-value?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>One analyst sees it rising to $1,200, another tumbling to $150\nCompetitive threats build after meteoric 2020 stock surge\n\nFew companies have been as polarizing on Wall Street as Tesla Inc.-- and the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-30/tesla-stall-shows-wall-street-rift-on-stratospheric-stock-value?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-30/tesla-stall-shows-wall-street-rift-on-stratospheric-stock-value?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105779613","content_text":"One analyst sees it rising to $1,200, another tumbling to $150\nCompetitive threats build after meteoric 2020 stock surge\n\nFew companies have been as polarizing on Wall Street as Tesla Inc.-- and the lackluster run this year has done nothing to lessen it.\nTo Piper Sandler & Co.’s Alexander Potter, the company’s potential dominance of the electric-car business warrants a $1,200 stock-price target, nearly double its $680.76 close on Tuesday. To Craig Irwin of Roth Capital Partners, as rivals move to pick off a head start that turned Tesla into the world’s most highly valued car company, the stock will sink to $150.\nThe divergence illustrates the tension that has sent Tesla shares toward a 4% loss during the first half of the year even as rival automakers surged ahead. That’s a marked contrast to its more than 8-fold jump last year and reflects investors’ doubts about heady growth expectations for the company in the face of stronger competitive threats and signs of a sales slowdown in China.\n“For a long time Tesla was the only credible player in the high-quality EV market, and we are seeing that starting to change,” said JoAnne Feeney, portfolio manager atAdvisorsCapital Management, who said the company’s current valuation assumes it will become the biggest seller of cars in the U.S. “That seems to be an awful lot to ask.”\n\nTesla sold about half a million cars worldwide in 2020, accounting for a fraction of even the 14.5 million light vehicles sold in the U.S., and it’s facing threats from traditional automakers such as General Motors Co.,Ford Motor Co. and Volkswagen AG that are launching their own electric-vehicle lineups. In China, Tesla’s lead over other startups has already started to shrink, according to UBS Group AG analyst Patrick Hummel.\nThat competition poses a separate challenge to the company’s bottom line: Tesla has profited from selling carbon-offset credits to other carmakers that haven’t met their emissions targets. But the more its rivals’ sales of electric vehicles take off, the more that source of revenue will drop.\nYet Tesla’s stock-market valuation is based on the expectation of steep growth, giving it little room for error. It’s currently trading at more than 650 times earnings per share, according to data compiled by Bloomberg. That compares with a multiple of 30 for the S&P 500 Index.\n“Tesla’s market valuation is vastly over optimistic, ignoring the over 500 EV models that will be on the road by the end of 2025,” said Roth Capital’s Irwin. “Tesla does not operate in a vacuum and many companies have better technology.”\nThe company will be reporting second-quarter delivery figures later this week, a major catalyst that analysts and investors will be keenly watching.\n\nBut Tesla bulls are confident that the company’s valuation will be justified if it comes to dominate the industry, much like tech behemoths Alphabet Inc.,FaceBook Inc. and Amazon.com Inc .have come to lord over their’s.\nOthers just see it as a pause for Tesla shares as investors come to terms with the surging valuation last year, when markets leaned heavily onto growth stocks as the pandemic shut down much of the global economy. That influx has started to shift this year in the so-called reflation trade, with funds moving back into stocks more likely to benefit from the recovery.\nCathie Wood’s Ark Investment Management, which had a 0.6% stake in Tesla as of March 31 and is an ardent backer of the company, remains steadfast in its support despite the stock’s showing this year. Ark expects it to benefit from rising electric vehicle sales and sees even odds that it will deliver fully self-driven cars in four years.\nIf all goes as planned? Ark forecasts the stock will reach $3,000 in 2025.","news_type":1},"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162658500,"gmtCreate":1624062667300,"gmtModify":1631890333231,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/162658500","repostId":"1140699063","repostType":4,"repost":{"id":"1140699063","kind":"news","pubTimestamp":1624020833,"share":"https://www.laohu8.com/m/news/1140699063?lang=&edition=full","pubTime":"2021-06-18 20:53","market":"us","language":"en","title":"As e-commerce sales proliferate, Amazon holds on to top online retail spot","url":"https://stock-news.laohu8.com/highlight/detail?id=1140699063","media":"cnbc","summary":"As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in th","content":"<div>\n<p>As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in the country is eye-popping: It's projected to be raking in more than 40% of the nation's e-commerce ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.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>As e-commerce sales proliferate, Amazon holds on to top online retail spot</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; 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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\">\nAs e-commerce sales proliferate, Amazon holds on to top online retail spot\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 20:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in the country is eye-popping: It's projected to be raking in more than 40% of the nation's e-commerce ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1140699063","content_text":"As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in the country is eye-popping: It's projected to be raking in more than 40% of the nation's e-commerce sales by the end of 2021.\nAmazon's dominance on the internet has only grown as shopping online becomes second nature for many consumers. That's exactly what has transpired over the past 13 years.\nIn 2008, e-commerce sales accounted for just 3.6% of total retail sales in the United States, according to data from eMarketer. Following gradual growth year after year, that figure skyrocketed to 14% in 2020, as the Covid pandemic fueled online spending on everything from groceries and toilet paper to spin bikes and workout clothes. E-commerce sales are predicted to account for 15.3% of total retail sales by the end of this year and jump to 23.5% by 2025, eMarketer said.\n\nFalling second to Amazon and far behind, big-box chainWalmartis predicted to take about 7% of the digital retail market this year. The two are followed byeBay,Apple,Home Depot,TargetandBest Buy, according to eMarketer.\nWalmart and Target are holding competing deals events — as they have in past years — to coincide with Amazon Prime Day 2021. Both discounters will start sales on Sunday, but Walmart's offers extend through Wednesday, while Target and Amazon end on Tuesday. Both Walmart and Target hope to reach customers who are already browsing the web on Prime Day for summer discounts.\n\nAccording toa recent research reportfromJPMorgan, Amazon is on track to overtake Walmart as the largest U.S. retailer in 2022, as it gains a greater and greater share of the total e-commerce market. Consumers' accelerated adoption of internet shopping during the Covid pandemic has also provided a lift to other areas of Amazon's business, too, JPMorgan said.\nEMarketer is forecasting that total digital sales in the U.S. on Prime Day will jump 17.3% year over year to $12.18 billion. Sales made exclusively on Amazon on Prime Day will grow 18.3% from 2020 levels, to $7.31 billion, it said.\nLast year, Amazon's typical July timing for its shopping extravaganza was postponed all the way into October because of the pandemic. Prime Day ended up marking the unofficial kick-off to the holiday shopping season.\nBack on a more normal schedule,this year's event has been moved up slightlyinto June. Experts say the company is looking to boost spending in what is normally a slower time in the retail calendar. The new timing could also prompt an earlier kickoff to back-to-school shopping.\n\"Amazon will be coy, when they announce ... and so they have the benefit of knowing what they're doing to make sure that they're in a good position,\" Rod Sides, a vice chairman of retail and distribution at Deloitte, said in an interview. \"Whereas the others are responding.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":162658500,"gmtCreate":1624062667300,"gmtModify":1631890333231,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"👍","listText":"👍","text":"👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/162658500","repostId":"1140699063","repostType":4,"repost":{"id":"1140699063","kind":"news","pubTimestamp":1624020833,"share":"https://www.laohu8.com/m/news/1140699063?lang=&edition=full","pubTime":"2021-06-18 20:53","market":"us","language":"en","title":"As e-commerce sales proliferate, Amazon holds on to top online retail spot","url":"https://stock-news.laohu8.com/highlight/detail?id=1140699063","media":"cnbc","summary":"As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in th","content":"<div>\n<p>As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in the country is eye-popping: It's projected to be raking in more than 40% of the nation's e-commerce ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.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>As e-commerce sales proliferate, Amazon holds on to top online retail spot</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; 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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\">\nAs e-commerce sales proliferate, Amazon holds on to top online retail spot\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 20:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in the country is eye-popping: It's projected to be raking in more than 40% of the nation's e-commerce ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊"},"source_url":"https://www.cnbc.com/2021/06/18/as-e-commerce-sales-proliferate-amazon-holds-on-to-top-online-retail-spot.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1140699063","content_text":"As Amazon prepares for its annual Prime Day megasale, its reign as the biggest online retailer in the country is eye-popping: It's projected to be raking in more than 40% of the nation's e-commerce sales by the end of 2021.\nAmazon's dominance on the internet has only grown as shopping online becomes second nature for many consumers. That's exactly what has transpired over the past 13 years.\nIn 2008, e-commerce sales accounted for just 3.6% of total retail sales in the United States, according to data from eMarketer. Following gradual growth year after year, that figure skyrocketed to 14% in 2020, as the Covid pandemic fueled online spending on everything from groceries and toilet paper to spin bikes and workout clothes. E-commerce sales are predicted to account for 15.3% of total retail sales by the end of this year and jump to 23.5% by 2025, eMarketer said.\n\nFalling second to Amazon and far behind, big-box chainWalmartis predicted to take about 7% of the digital retail market this year. The two are followed byeBay,Apple,Home Depot,TargetandBest Buy, according to eMarketer.\nWalmart and Target are holding competing deals events — as they have in past years — to coincide with Amazon Prime Day 2021. Both discounters will start sales on Sunday, but Walmart's offers extend through Wednesday, while Target and Amazon end on Tuesday. Both Walmart and Target hope to reach customers who are already browsing the web on Prime Day for summer discounts.\n\nAccording toa recent research reportfromJPMorgan, Amazon is on track to overtake Walmart as the largest U.S. retailer in 2022, as it gains a greater and greater share of the total e-commerce market. Consumers' accelerated adoption of internet shopping during the Covid pandemic has also provided a lift to other areas of Amazon's business, too, JPMorgan said.\nEMarketer is forecasting that total digital sales in the U.S. on Prime Day will jump 17.3% year over year to $12.18 billion. Sales made exclusively on Amazon on Prime Day will grow 18.3% from 2020 levels, to $7.31 billion, it said.\nLast year, Amazon's typical July timing for its shopping extravaganza was postponed all the way into October because of the pandemic. Prime Day ended up marking the unofficial kick-off to the holiday shopping season.\nBack on a more normal schedule,this year's event has been moved up slightlyinto June. Experts say the company is looking to boost spending in what is normally a slower time in the retail calendar. The new timing could also prompt an earlier kickoff to back-to-school shopping.\n\"Amazon will be coy, when they announce ... and so they have the benefit of knowing what they're doing to make sure that they're in a good position,\" Rod Sides, a vice chairman of retail and distribution at Deloitte, said in an interview. \"Whereas the others are responding.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151116206,"gmtCreate":1625067244405,"gmtModify":1631890333216,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151116206","repostId":"1153116027","repostType":4,"repost":{"id":"1153116027","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":1625065414,"share":"https://www.laohu8.com/m/news/1153116027?lang=&edition=full","pubTime":"2021-06-30 23:03","market":"us","language":"en","title":"Clear Secure spikes 34% on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1153116027","media":"Tiger Newspress","summary":"Coupang shares opened at $38.66 each on Wednesday, about 34% higher than the company’s IPO price.\n\nQ","content":"<p>Coupang shares opened at $38.66&nbsp;each on Wednesday, about 34% higher than the company’s IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/7f9504efc022356069cbe31bc7d9fd4c\" tg-width=\"840\" tg-height=\"470\"></p>\n<p><b>Quick Take</b></p>\n<p>Clear Secure (YOU) as filed to raise $376 million in an IPO of its Class A common stock, according to an S-1/Aregistration statement.</p>\n<p>The firm provides membership-based security enrollment services for access to various public and private venues.</p>\n<p>YOU produced contracting topline revenue and related metrics in Q1 2021 and the IPO appears pricey, so I'll pass on the IPO.</p>\n<p><b>Company &amp; Technology</b></p>\n<p>New York, New York-based Clear Secure was founded to create a security platform enabling subscribers to demonstrate their identity and receive faster or more convenient access to venues and transportation systems in the U.S.</p>\n<p>Management is headed by Chair and CEO Ms. Caryn Seidman-Becker, who has been with the firm since 2010 and was previously founder of Arience Capital and managing director at Iridian Asset Management.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>CLEAR - venue access subscription service</li>\n <li>CLEAR Plus - CLEAR plus aviation system access subscription service</li>\n <li>Health Pass - health identity connected to digital health credential</li>\n</ul>\n<p>Clear Secure has received at least $651 million in equity investment from investors including Alclear Investments, T. Rowe Price &amp; Associates Funds, General Atlantic, William Miller III, Delta Air Lines and Durable Capital.</p>\n<p><b>Customer/User Acquisition</b></p>\n<p>The firm has focused its direct sales &amp; marketing efforts on U.S. airports, stadiums and major venues.</p>\n<p>As of May 31, 2021, it counted 38 airports, 26 sports and entertainment venues and 67 Health Pass-enabled partners and events for 100 unique locations as well as numerous offices, theaters, casinos, theme parks and restaurants.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have fluctuated as revenues have varied, as the figures below indicate:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/b771264433e9ae9822f0c8f3ff09e491\" tg-width=\"552\" tg-height=\"274\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, swung to a negative 2.2x in the most recent reporting period, as shown in the table below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/3579f0c3282e320968d830529b1e5ecc\" tg-width=\"553\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The firm’s CLEAR Plus member retention rate for 2020 was 78.8%. Management said it expects the negative effects of the COVID-19 pandemic to affect its airport enrollments and business in 2021 and beyond.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2018 marketresearch reportby Fortune Business Insights, the global stadium security market was an estimated $6.2 billion in 2017 and is forecast to reach $16 billion by 2025.</p>\n<p>This represents a forecast CAGR of 12.8% from 2018 to 2025.</p>\n<p>The main drivers for this expected growth are a rise in terrorist threat scenarios as well as a need to handle large crowds in a safe manner.</p>\n<p>Also, stadium and venue owners are seeking advanced security measures as more options become available.</p>\n<p>Below is a chart showing the stadium security market historical and forecast growth trajectory:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/6156ca7be4be93d813c09e0d9e25f4fd\" tg-width=\"1280\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>(Source)</p>\n<p>Notably, the software &amp; services segment was expected to grow at the fastest rate through 2025.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li>Telos Identity</li>\n <li>Idemia Identity &amp; Security</li>\n <li>PricewaterhouseCoopers</li>\n <li>Salesforce</li>\n <li>IBM</li>\n <li>Amazon</li>\n <li>Apple</li>\n <li>Facebook</li>\n <li>Google</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Clear Secure’s recent financial results can be summarized as follows:</p>\n<ul>\n <li>Contracting topline revenue in Q1 2021</li>\n <li>Reduced gross profit and fluctuating gross margin</li>\n <li>Increased operating losses</li>\n <li>Uneven cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/9fd36b19e2a8c0722e8f5234e3d89e93\" tg-width=\"554\" tg-height=\"559\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/830d7c058bba120b50f65f4569a16e85\" tg-width=\"551\" tg-height=\"557\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/14b46d1fd8cd4d7cf5dbbec6b9e03797\" tg-width=\"556\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>As of March 31, 2021, Clear Secure had $176 million in cash and $161.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>Clear Secure intends to raise $376 million in gross proceeds from an IPO of its Class A common stock, offering 13.2 million shares at a proposed midpoint price of $28.50 per share.</p>\n<p>Class A and Class C common stockholders will be entitled to receive one vote per share and Class B and Class D shareholders will have 20 votes per share.</p>\n<p>The S&amp;P 500 Index no longer admits firms with multiple classes of stock into its index.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO, the company’s enterprise value at IPO would approximate $3.7 billion, excluding the effects of underwriter over-allotment options.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 8.93%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Management says it will use the net proceeds from the IPO as follows:</p>\n<blockquote>\n We intend to contribute the net proceeds from this offering to Alclear in exchange for a number of Alclear Units equal to the contribution amount divided by the price paid by the underwriters for shares of our Class A common stock in this offering (13,200,000 Alclear Units at the midpoint of the estimated public offering price range set forth on the cover page of this prospectus or, if the underwriters exercise their option to purchase additional shares in full, 15,180,000 Alclear Units), and to cause Alclear to use such contributed amount to pay offering expenses and for general corporate purposes. (Source)\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Allen &amp; Company, Wells Fargo Securities, LionTree, Stifel, Telsey Advisory Group, Centerview Partners, Loop Capital Markets and Roberts &amp; Ryan.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of relevant capitalization and valuation figures for the company:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/0bee8c66f2a51c304ca1719144766210\" tg-width=\"553\" tg-height=\"641\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p><b>Commentary</b></p>\n<p>Clear Secure is seeking public investment capital for unspecified future corporate expansion plans.</p>\n<p>The company’s financials showed resilience in 2020 but a significant drop in topline revenue in Q1 2021 and continued operating losses with a lack of path to operating breakeven.</p>\n<p>Free cash flow for the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have varied as revenue has fluctuated; its Sales and Marketing efficiency rate swung to a negative 2.2x in the most recent reporting period.</p>\n<p>The market opportunity for providing preferred venue and travel access services is significant but has been affected negatively by the COVID-19 pandemic, at least in the short term.</p>\n<p>Management responded by developing its Health Pass service during 2020.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 46.6% since their IPO. This is a top-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the ongoing uncertainties brought about by the COVID-19 pandemic and changing consumer habits.</p>\n<p>As for valuation, YOU is primarily a subscription-based business and is asking investors at IPO to pay an Enterprise Value / Revenue multiple of 16.8x, which is well above the typical software-based SaaS public stock median, as shown below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/e400ff06b7afa10def8dee92ad2826f0\" tg-width=\"1093\" tg-height=\"744\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p>I’m also concerned by the contraction in topline revenue and related metrics in Q1 2021...not a good result leading into the IPO.</p>\n<p>I'll watch the IPO from the sidelines.</p>\n<p>Expected IPO Pricing Date: June 29, 2021</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>Clear Secure spikes 34% on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nClear Secure spikes 34% on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-30 23:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Coupang shares opened at $38.66&nbsp;each on Wednesday, about 34% higher than the company’s IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/7f9504efc022356069cbe31bc7d9fd4c\" tg-width=\"840\" tg-height=\"470\"></p>\n<p><b>Quick Take</b></p>\n<p>Clear Secure (YOU) as filed to raise $376 million in an IPO of its Class A common stock, according to an S-1/Aregistration statement.</p>\n<p>The firm provides membership-based security enrollment services for access to various public and private venues.</p>\n<p>YOU produced contracting topline revenue and related metrics in Q1 2021 and the IPO appears pricey, so I'll pass on the IPO.</p>\n<p><b>Company &amp; Technology</b></p>\n<p>New York, New York-based Clear Secure was founded to create a security platform enabling subscribers to demonstrate their identity and receive faster or more convenient access to venues and transportation systems in the U.S.</p>\n<p>Management is headed by Chair and CEO Ms. Caryn Seidman-Becker, who has been with the firm since 2010 and was previously founder of Arience Capital and managing director at Iridian Asset Management.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>CLEAR - venue access subscription service</li>\n <li>CLEAR Plus - CLEAR plus aviation system access subscription service</li>\n <li>Health Pass - health identity connected to digital health credential</li>\n</ul>\n<p>Clear Secure has received at least $651 million in equity investment from investors including Alclear Investments, T. Rowe Price &amp; Associates Funds, General Atlantic, William Miller III, Delta Air Lines and Durable Capital.</p>\n<p><b>Customer/User Acquisition</b></p>\n<p>The firm has focused its direct sales &amp; marketing efforts on U.S. airports, stadiums and major venues.</p>\n<p>As of May 31, 2021, it counted 38 airports, 26 sports and entertainment venues and 67 Health Pass-enabled partners and events for 100 unique locations as well as numerous offices, theaters, casinos, theme parks and restaurants.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have fluctuated as revenues have varied, as the figures below indicate:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/b771264433e9ae9822f0c8f3ff09e491\" tg-width=\"552\" tg-height=\"274\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, swung to a negative 2.2x in the most recent reporting period, as shown in the table below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/3579f0c3282e320968d830529b1e5ecc\" tg-width=\"553\" tg-height=\"223\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>The firm’s CLEAR Plus member retention rate for 2020 was 78.8%. Management said it expects the negative effects of the COVID-19 pandemic to affect its airport enrollments and business in 2021 and beyond.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2018 marketresearch reportby Fortune Business Insights, the global stadium security market was an estimated $6.2 billion in 2017 and is forecast to reach $16 billion by 2025.</p>\n<p>This represents a forecast CAGR of 12.8% from 2018 to 2025.</p>\n<p>The main drivers for this expected growth are a rise in terrorist threat scenarios as well as a need to handle large crowds in a safe manner.</p>\n<p>Also, stadium and venue owners are seeking advanced security measures as more options become available.</p>\n<p>Below is a chart showing the stadium security market historical and forecast growth trajectory:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/6156ca7be4be93d813c09e0d9e25f4fd\" tg-width=\"1280\" tg-height=\"716\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>(Source)</p>\n<p>Notably, the software &amp; services segment was expected to grow at the fastest rate through 2025.</p>\n<p>Major competitive or other industry participants include:</p>\n<ul>\n <li>Telos Identity</li>\n <li>Idemia Identity &amp; Security</li>\n <li>PricewaterhouseCoopers</li>\n <li>Salesforce</li>\n <li>IBM</li>\n <li>Amazon</li>\n <li>Apple</li>\n <li>Facebook</li>\n <li>Google</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>Clear Secure’s recent financial results can be summarized as follows:</p>\n<ul>\n <li>Contracting topline revenue in Q1 2021</li>\n <li>Reduced gross profit and fluctuating gross margin</li>\n <li>Increased operating losses</li>\n <li>Uneven cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/9fd36b19e2a8c0722e8f5234e3d89e93\" tg-width=\"554\" tg-height=\"559\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/830d7c058bba120b50f65f4569a16e85\" tg-width=\"551\" tg-height=\"557\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/14b46d1fd8cd4d7cf5dbbec6b9e03797\" tg-width=\"556\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p>As of March 31, 2021, Clear Secure had $176 million in cash and $161.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>Clear Secure intends to raise $376 million in gross proceeds from an IPO of its Class A common stock, offering 13.2 million shares at a proposed midpoint price of $28.50 per share.</p>\n<p>Class A and Class C common stockholders will be entitled to receive one vote per share and Class B and Class D shareholders will have 20 votes per share.</p>\n<p>The S&amp;P 500 Index no longer admits firms with multiple classes of stock into its index.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO, the company’s enterprise value at IPO would approximate $3.7 billion, excluding the effects of underwriter over-allotment options.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 8.93%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Management says it will use the net proceeds from the IPO as follows:</p>\n<blockquote>\n We intend to contribute the net proceeds from this offering to Alclear in exchange for a number of Alclear Units equal to the contribution amount divided by the price paid by the underwriters for shares of our Class A common stock in this offering (13,200,000 Alclear Units at the midpoint of the estimated public offering price range set forth on the cover page of this prospectus or, if the underwriters exercise their option to purchase additional shares in full, 15,180,000 Alclear Units), and to cause Alclear to use such contributed amount to pay offering expenses and for general corporate purposes. (Source)\n</blockquote>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Listed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Allen &amp; Company, Wells Fargo Securities, LionTree, Stifel, Telsey Advisory Group, Centerview Partners, Loop Capital Markets and Roberts &amp; Ryan.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of relevant capitalization and valuation figures for the company:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/0bee8c66f2a51c304ca1719144766210\" tg-width=\"553\" tg-height=\"641\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p></p>\n<p><b>Commentary</b></p>\n<p>Clear Secure is seeking public investment capital for unspecified future corporate expansion plans.</p>\n<p>The company’s financials showed resilience in 2020 but a significant drop in topline revenue in Q1 2021 and continued operating losses with a lack of path to operating breakeven.</p>\n<p>Free cash flow for the twelve months ended March 31, 2021, was $8.2 million.</p>\n<p>Sales and Marketing expenses as a percentage of total revenue have varied as revenue has fluctuated; its Sales and Marketing efficiency rate swung to a negative 2.2x in the most recent reporting period.</p>\n<p>The market opportunity for providing preferred venue and travel access services is significant but has been affected negatively by the COVID-19 pandemic, at least in the short term.</p>\n<p>Management responded by developing its Health Pass service during 2020.</p>\n<p>Goldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 46.6% since their IPO. This is a top-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the ongoing uncertainties brought about by the COVID-19 pandemic and changing consumer habits.</p>\n<p>As for valuation, YOU is primarily a subscription-based business and is asking investors at IPO to pay an Enterprise Value / Revenue multiple of 16.8x, which is well above the typical software-based SaaS public stock median, as shown below:</p>\n<p></p>\n<p><img src=\"https://static.tigerbbs.com/e400ff06b7afa10def8dee92ad2826f0\" tg-width=\"1093\" tg-height=\"744\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<p>I’m also concerned by the contraction in topline revenue and related metrics in Q1 2021...not a good result leading into the IPO.</p>\n<p>I'll watch the IPO from the sidelines.</p>\n<p>Expected IPO Pricing Date: June 29, 2021</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"YOU":"Clear Secure, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153116027","content_text":"Coupang shares opened at $38.66 each on Wednesday, about 34% higher than the company’s IPO price.\n\nQuick Take\nClear Secure (YOU) as filed to raise $376 million in an IPO of its Class A common stock, according to an S-1/Aregistration statement.\nThe firm provides membership-based security enrollment services for access to various public and private venues.\nYOU produced contracting topline revenue and related metrics in Q1 2021 and the IPO appears pricey, so I'll pass on the IPO.\nCompany & Technology\nNew York, New York-based Clear Secure was founded to create a security platform enabling subscribers to demonstrate their identity and receive faster or more convenient access to venues and transportation systems in the U.S.\nManagement is headed by Chair and CEO Ms. Caryn Seidman-Becker, who has been with the firm since 2010 and was previously founder of Arience Capital and managing director at Iridian Asset Management.\nThe company’s primary offerings include:\n\nCLEAR - venue access subscription service\nCLEAR Plus - CLEAR plus aviation system access subscription service\nHealth Pass - health identity connected to digital health credential\n\nClear Secure has received at least $651 million in equity investment from investors including Alclear Investments, T. Rowe Price & Associates Funds, General Atlantic, William Miller III, Delta Air Lines and Durable Capital.\nCustomer/User Acquisition\nThe firm has focused its direct sales & marketing efforts on U.S. airports, stadiums and major venues.\nAs of May 31, 2021, it counted 38 airports, 26 sports and entertainment venues and 67 Health Pass-enabled partners and events for 100 unique locations as well as numerous offices, theaters, casinos, theme parks and restaurants.\nSales and Marketing expenses as a percentage of total revenue have fluctuated as revenues have varied, as the figures below indicate:\n\n\n\n\nThe Sales and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Sales and Marketing spend, swung to a negative 2.2x in the most recent reporting period, as shown in the table below:\n\n\n\n\nThe firm’s CLEAR Plus member retention rate for 2020 was 78.8%. Management said it expects the negative effects of the COVID-19 pandemic to affect its airport enrollments and business in 2021 and beyond.\nMarket & Competition\nAccording to a 2018 marketresearch reportby Fortune Business Insights, the global stadium security market was an estimated $6.2 billion in 2017 and is forecast to reach $16 billion by 2025.\nThis represents a forecast CAGR of 12.8% from 2018 to 2025.\nThe main drivers for this expected growth are a rise in terrorist threat scenarios as well as a need to handle large crowds in a safe manner.\nAlso, stadium and venue owners are seeking advanced security measures as more options become available.\nBelow is a chart showing the stadium security market historical and forecast growth trajectory:\n\n\n\n\n(Source)\nNotably, the software & services segment was expected to grow at the fastest rate through 2025.\nMajor competitive or other industry participants include:\n\nTelos Identity\nIdemia Identity & Security\nPricewaterhouseCoopers\nSalesforce\nIBM\nAmazon\nApple\nFacebook\nGoogle\n\nFinancial Performance\nClear Secure’s recent financial results can be summarized as follows:\n\nContracting topline revenue in Q1 2021\nReduced gross profit and fluctuating gross margin\nIncreased operating losses\nUneven cash flow from operations\n\nBelow are relevant financial results derived from the firm’s registration statement:\n\n\n\n\n\n\n\n\nAs of March 31, 2021, Clear Secure had $176 million in cash and $161.8 million in total liabilities.\nFree cash flow during the twelve months ended March 31, 2021, was $8.2 million.\nIPO Details\nClear Secure intends to raise $376 million in gross proceeds from an IPO of its Class A common stock, offering 13.2 million shares at a proposed midpoint price of $28.50 per share.\nClass A and Class C common stockholders will be entitled to receive one vote per share and Class B and Class D shareholders will have 20 votes per share.\nThe S&P 500 Index no longer admits firms with multiple classes of stock into its index.\nNo existing shareholders have indicated an interest to purchase shares at the IPO price.\nAssuming a successful IPO, the company’s enterprise value at IPO would approximate $3.7 billion, excluding the effects of underwriter over-allotment options.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 8.93%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.\nManagement says it will use the net proceeds from the IPO as follows:\n\n We intend to contribute the net proceeds from this offering to Alclear in exchange for a number of Alclear Units equal to the contribution amount divided by the price paid by the underwriters for shares of our Class A common stock in this offering (13,200,000 Alclear Units at the midpoint of the estimated public offering price range set forth on the cover page of this prospectus or, if the underwriters exercise their option to purchase additional shares in full, 15,180,000 Alclear Units), and to cause Alclear to use such contributed amount to pay offering expenses and for general corporate purposes. (Source)\n\nManagement’s presentation of the company roadshow isavailable here.\nListed bookrunners of the IPO are Goldman Sachs, J.P. Morgan, Allen & Company, Wells Fargo Securities, LionTree, Stifel, Telsey Advisory Group, Centerview Partners, Loop Capital Markets and Roberts & Ryan.\nValuation Metrics\nBelow is a table of relevant capitalization and valuation figures for the company:\n\n\n\n\nCommentary\nClear Secure is seeking public investment capital for unspecified future corporate expansion plans.\nThe company’s financials showed resilience in 2020 but a significant drop in topline revenue in Q1 2021 and continued operating losses with a lack of path to operating breakeven.\nFree cash flow for the twelve months ended March 31, 2021, was $8.2 million.\nSales and Marketing expenses as a percentage of total revenue have varied as revenue has fluctuated; its Sales and Marketing efficiency rate swung to a negative 2.2x in the most recent reporting period.\nThe market opportunity for providing preferred venue and travel access services is significant but has been affected negatively by the COVID-19 pandemic, at least in the short term.\nManagement responded by developing its Health Pass service during 2020.\nGoldman Sachs is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 46.6% since their IPO. This is a top-tier performance for all major underwriters during the period.\nThe primary risk to the company’s outlook is the ongoing uncertainties brought about by the COVID-19 pandemic and changing consumer habits.\nAs for valuation, YOU is primarily a subscription-based business and is asking investors at IPO to pay an Enterprise Value / Revenue multiple of 16.8x, which is well above the typical software-based SaaS public stock median, as shown below:\n\n\n\nI’m also concerned by the contraction in topline revenue and related metrics in Q1 2021...not a good result leading into the IPO.\nI'll watch the IPO from the sidelines.\nExpected IPO Pricing Date: June 29, 2021","news_type":1},"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143459163,"gmtCreate":1625811729652,"gmtModify":1631890333185,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/143459163","repostId":"1135220115","repostType":4,"repost":{"id":"1135220115","kind":"news","pubTimestamp":1625755320,"share":"https://www.laohu8.com/m/news/1135220115?lang=&edition=full","pubTime":"2021-07-08 22:42","market":"us","language":"en","title":"Mortgage rates slips to 2.9%, lowest in five months","url":"https://stock-news.laohu8.com/highlight/detail?id=1135220115","media":"seekingalpha","summary":"30-year fixed-rate mortgage averaged 2.90% for the week ending July 8, down from 2.98% recorded in p","content":"<ul>\n <li>30-year fixed-rate mortgage&nbsp;averaged 2.90% for the&nbsp;week ending July 8, down from 2.98% recorded in prior week and down&nbsp;from&nbsp;3.03%&nbsp;averaged&nbsp;in&nbsp;same&nbsp;period a year&nbsp;ago,according to theFreddie Mac Primary Mortgage Survey; its lowest since Feb.18 levels.</li>\n <li>\"Mortgage rates decreased this week following the dip in&nbsp;U.S.&nbsp;Treasury&nbsp;yields. While mortgage rates tend to follow Treasury yields closely, other factors can be impactful such as the labor markets, which are continuing to improve per last week’s jobs report,\" chief economist Sam Khater commented.</li>\n <li>The 10-year U.S. Treasury yield dropped below 1.3% on Wednesday, and fell another 6 bps&nbsp;overnight to 1.26%,read more.</li>\n <li>Also Read:&nbsp;Are Treasury yields sniffing out a Fed mistake?: At the Open</li>\n <li>5-year FRM averages 2.20%&nbsp;down from last week when it averaged 2.26%&nbsp;and 2.51% a year ago.</li>\n <li>5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.52%, down from 2.54% in prior week, and lower from 3.02% a year ago.</li>\n <li>\"We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover ~3%,\" Khater continued.</li>\n <li>\"While longer-term changes in&nbsp;rates&nbsp;are likely to be to the upside, the shift in the market's outlook suggests that&nbsp;rates&nbsp;have little reason to move sharply higher anytime soon\" Zillow economist Matthew Speakman commented.</li>\n <li>Fannie Mae's new survey indicated that Americans were growing even more pessimistic about the prospect of buying a home these days, in light of the low supply of listings and rising prices;&nbsp;chief economist Doug Duncan projected that home-buying demand would remain strong through the rest of 2021.</li>\n <li>Mortgage REITs:(NYSE:CIM),(NASDAQ:AGNC)and(NYSE:NLY)are trading in red today while homebuilder stocks:(NYSE:DHI),(NYSE:LEN),(NYSE:PHM),(NYSE:TMHC),(NYSE:KBH),(NASDAQ:LGIH)are also trading in red.</li>\n <li>ETFs Watch:(BATS:ITB),(BATS:REM),(NASDAQ:IEF),(NYSEARCA:XHB),(NYSEARCA:IYR),(NYSEARCA:PKB)</li>\n</ul>","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>Mortgage rates slips to 2.9%, lowest in five months</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\">\nMortgage rates slips to 2.9%, lowest in five months\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-08 22:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3713678-mortgage-rates-slips-to-29-lowest-in-five-months><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>30-year fixed-rate mortgage averaged 2.90% for the week ending July 8, down from 2.98% recorded in prior week and down from 3.03% averaged in same period a year ago,according to theFreddie Mac Primary...</p>\n\n<a href=\"https://seekingalpha.com/news/3713678-mortgage-rates-slips-to-29-lowest-in-five-months\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CIM":"奇美拉投资","FMCC":"房地美"},"source_url":"https://seekingalpha.com/news/3713678-mortgage-rates-slips-to-29-lowest-in-five-months","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1135220115","content_text":"30-year fixed-rate mortgage averaged 2.90% for the week ending July 8, down from 2.98% recorded in prior week and down from 3.03% averaged in same period a year ago,according to theFreddie Mac Primary Mortgage Survey; its lowest since Feb.18 levels.\n\"Mortgage rates decreased this week following the dip in U.S. Treasury yields. While mortgage rates tend to follow Treasury yields closely, other factors can be impactful such as the labor markets, which are continuing to improve per last week’s jobs report,\" chief economist Sam Khater commented.\nThe 10-year U.S. Treasury yield dropped below 1.3% on Wednesday, and fell another 6 bps overnight to 1.26%,read more.\nAlso Read: Are Treasury yields sniffing out a Fed mistake?: At the Open\n5-year FRM averages 2.20% down from last week when it averaged 2.26% and 2.51% a year ago.\n5-year Treasury-indexed hybrid adjustable rate mortgage averaged 2.52%, down from 2.54% in prior week, and lower from 3.02% a year ago.\n\"We expect economic growth to gradually drive interest rates higher, but homebuyers and refinance borrowers still have an opportunity to take advantage of 30-year rates that are expected to continue to hover ~3%,\" Khater continued.\n\"While longer-term changes in rates are likely to be to the upside, the shift in the market's outlook suggests that rates have little reason to move sharply higher anytime soon\" Zillow economist Matthew Speakman commented.\nFannie Mae's new survey indicated that Americans were growing even more pessimistic about the prospect of buying a home these days, in light of the low supply of listings and rising prices; chief economist Doug Duncan projected that home-buying demand would remain strong through the rest of 2021.\nMortgage REITs:(NYSE:CIM),(NASDAQ:AGNC)and(NYSE:NLY)are trading in red today while homebuilder stocks:(NYSE:DHI),(NYSE:LEN),(NYSE:PHM),(NYSE:TMHC),(NYSE:KBH),(NASDAQ:LGIH)are also trading in red.\nETFs Watch:(BATS:ITB),(BATS:REM),(NASDAQ:IEF),(NYSEARCA:XHB),(NYSEARCA:IYR),(NYSEARCA:PKB)","news_type":1},"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143424192,"gmtCreate":1625811434516,"gmtModify":1631890333191,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/143424192","repostId":"2149121328","repostType":4,"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151113629,"gmtCreate":1625067069661,"gmtModify":1631890333221,"author":{"id":"3579089382464450","authorId":"3579089382464450","name":"sharonK","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579089382464450","authorIdStr":"3579089382464450"},"themes":[],"htmlText":"go go","listText":"go go","text":"go go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151113629","repostId":"1105779613","repostType":4,"repost":{"id":"1105779613","kind":"news","pubTimestamp":1625062867,"share":"https://www.laohu8.com/m/news/1105779613?lang=&edition=full","pubTime":"2021-06-30 22:21","market":"us","language":"en","title":"Tesla Stall Shows Wall Street Rift on Stratospheric Stock Value","url":"https://stock-news.laohu8.com/highlight/detail?id=1105779613","media":"Bloomberg","summary":"One analyst sees it rising to $1,200, another tumbling to $150. Competitive threats build after meteoric 2020 stock surge. Few companies have been as polarizing on Wall Street as Tesla Inc.-- and the lackluster run this year has done nothing to lessen it.To Piper Sandler & Co.’s Alexander Potter, the company’s potential dominance of the electric-car business warrants a $1,200 stock-price target, nearly double its $680.76 close on Tuesday. To Craig Irwin of Roth Capital Partners, as rivals move t","content":"<ul>\n <li>One analyst sees it rising to $1,200, another tumbling to $150</li>\n <li>Competitive threats build after meteoric 2020 stock surge</li>\n</ul>\n<p>Few companies have been as polarizing on Wall Street as&nbsp;Tesla Inc.-- and the lackluster run this year has done nothing to lessen it.</p>\n<p>To&nbsp;Piper Sandler &amp; Co.’s Alexander Potter, the company’s potential dominance of the electric-car business&nbsp;warrants&nbsp;a $1,200 stock-price target, nearly double its $680.76 close on Tuesday. To Craig Irwin of Roth Capital Partners, as rivals move to pick off a head start that turned Tesla into the world’s most highly valued car company, the stock will sink to $150.</p>\n<p>The divergence illustrates the tension that has sent Tesla shares toward a 4% loss during the first half of the year even as rival automakers surged ahead. That’s a marked contrast to its more than 8-fold jump last year and reflects investors’ doubts about heady growth expectations for the company in the face of stronger competitive threats and signs of a sales slowdown in China.</p>\n<p>“For a long time Tesla was the only credible player in the high-quality EV market, and we are seeing that starting to change,” said JoAnne Feeney, portfolio manager atAdvisorsCapital Management, who said the company’s current valuation assumes it will become the biggest seller of cars in the U.S. “That seems to be an awful lot to ask.”</p>\n<p><img src=\"https://static.tigerbbs.com/fb8f7a35e4b2bc516159737958ead3d4\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p>\n<p>Tesla sold about half a million cars worldwide in 2020, accounting for a fraction of even the 14.5 million light vehicles sold in the U.S., and it’s facing threats from traditional automakers such as&nbsp;General Motors Co.,Ford Motor Co.&nbsp;and&nbsp;Volkswagen AG&nbsp;that are launching their own electric-vehicle lineups. In China, Tesla’s lead over other startups has already started to shrink, according to&nbsp;UBS Group AG&nbsp;analyst Patrick Hummel.</p>\n<p>That competition poses a separate challenge to the company’s bottom line: Tesla has profited from selling carbon-offset credits to other carmakers that haven’t met their emissions targets. But the more its rivals’ sales of electric vehicles take off, the more that source of revenue will drop.</p>\n<p>Yet Tesla’s stock-market valuation is based on the expectation of steep growth, giving it little room for error. It’s currently trading at more than 650 times earnings per share, according to data compiled by Bloomberg. That compares with a multiple of 30 for the S&amp;P 500 Index.</p>\n<p>“Tesla’s market valuation is vastly over optimistic, ignoring the over 500 EV models that will be on the road by the end of 2025,” said&nbsp;Roth Capital’s Irwin. “Tesla does not operate in a vacuum and many companies have better technology.”</p>\n<p>The company will be reporting second-quarter delivery figures later this week, a major catalyst that analysts and investors will be keenly watching.</p>\n<p><img src=\"https://static.tigerbbs.com/6d2dd8d41a7f20e74bd44de1c344d6a0\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p>\n<p>But Tesla bulls are confident that the company’s valuation will be justified if it comes to dominate the industry, much like tech behemoths&nbsp;Alphabet Inc.,FaceBook Inc.&nbsp;and&nbsp;Amazon.com Inc&nbsp;.have come to lord over their’s.</p>\n<p>Others just see it as a pause for Tesla shares as investors come to terms with the surging valuation last year, when markets leaned heavily onto growth stocks as the pandemic shut down much of the global economy. That influx has started to shift this year in the so-called reflation trade, with funds moving back into stocks more likely to benefit from the recovery.</p>\n<p>Cathie Wood’s&nbsp;Ark Investment Management, which had a 0.6% stake in Tesla as of March 31 and is an ardent backer of the company, remains steadfast in its support despite the stock’s showing this year. Ark expects it to benefit from rising electric vehicle sales and sees even odds that it will deliver fully self-driven cars in four years.</p>\n<p>If all goes as planned? Ark forecasts the stock will reach $3,000 in 2025.</p>","source":"lsy1584095487587","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 Stall Shows Wall Street Rift on Stratospheric Stock Value</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 Stall Shows Wall Street Rift on Stratospheric Stock Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-30 22:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-30/tesla-stall-shows-wall-street-rift-on-stratospheric-stock-value?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>One analyst sees it rising to $1,200, another tumbling to $150\nCompetitive threats build after meteoric 2020 stock surge\n\nFew companies have been as polarizing on Wall Street as Tesla Inc.-- and the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-30/tesla-stall-shows-wall-street-rift-on-stratospheric-stock-value?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-30/tesla-stall-shows-wall-street-rift-on-stratospheric-stock-value?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105779613","content_text":"One analyst sees it rising to $1,200, another tumbling to $150\nCompetitive threats build after meteoric 2020 stock surge\n\nFew companies have been as polarizing on Wall Street as Tesla Inc.-- and the lackluster run this year has done nothing to lessen it.\nTo Piper Sandler & Co.’s Alexander Potter, the company’s potential dominance of the electric-car business warrants a $1,200 stock-price target, nearly double its $680.76 close on Tuesday. To Craig Irwin of Roth Capital Partners, as rivals move to pick off a head start that turned Tesla into the world’s most highly valued car company, the stock will sink to $150.\nThe divergence illustrates the tension that has sent Tesla shares toward a 4% loss during the first half of the year even as rival automakers surged ahead. That’s a marked contrast to its more than 8-fold jump last year and reflects investors’ doubts about heady growth expectations for the company in the face of stronger competitive threats and signs of a sales slowdown in China.\n“For a long time Tesla was the only credible player in the high-quality EV market, and we are seeing that starting to change,” said JoAnne Feeney, portfolio manager atAdvisorsCapital Management, who said the company’s current valuation assumes it will become the biggest seller of cars in the U.S. “That seems to be an awful lot to ask.”\n\nTesla sold about half a million cars worldwide in 2020, accounting for a fraction of even the 14.5 million light vehicles sold in the U.S., and it’s facing threats from traditional automakers such as General Motors Co.,Ford Motor Co. and Volkswagen AG that are launching their own electric-vehicle lineups. In China, Tesla’s lead over other startups has already started to shrink, according to UBS Group AG analyst Patrick Hummel.\nThat competition poses a separate challenge to the company’s bottom line: Tesla has profited from selling carbon-offset credits to other carmakers that haven’t met their emissions targets. But the more its rivals’ sales of electric vehicles take off, the more that source of revenue will drop.\nYet Tesla’s stock-market valuation is based on the expectation of steep growth, giving it little room for error. It’s currently trading at more than 650 times earnings per share, according to data compiled by Bloomberg. That compares with a multiple of 30 for the S&P 500 Index.\n“Tesla’s market valuation is vastly over optimistic, ignoring the over 500 EV models that will be on the road by the end of 2025,” said Roth Capital’s Irwin. “Tesla does not operate in a vacuum and many companies have better technology.”\nThe company will be reporting second-quarter delivery figures later this week, a major catalyst that analysts and investors will be keenly watching.\n\nBut Tesla bulls are confident that the company’s valuation will be justified if it comes to dominate the industry, much like tech behemoths Alphabet Inc.,FaceBook Inc. and Amazon.com Inc .have come to lord over their’s.\nOthers just see it as a pause for Tesla shares as investors come to terms with the surging valuation last year, when markets leaned heavily onto growth stocks as the pandemic shut down much of the global economy. That influx has started to shift this year in the so-called reflation trade, with funds moving back into stocks more likely to benefit from the recovery.\nCathie Wood’s Ark Investment Management, which had a 0.6% stake in Tesla as of March 31 and is an ardent backer of the company, remains steadfast in its support despite the stock’s showing this year. Ark expects it to benefit from rising electric vehicle sales and sees even odds that it will deliver fully self-driven cars in four years.\nIf all goes as planned? Ark forecasts the stock will reach $3,000 in 2025.","news_type":1},"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}