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vttoh
2022-01-06
The banks[smile]
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vttoh
2022-01-06
Market correction?
Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes
vttoh
2022-01-04
Yes. Yeh.
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vttoh
2022-01-03
Detail analysis.. volatile exciting..
Sea Limited: Engaging Wars On Multiple Fronts
vttoh
2022-01-03
👍 jia you.. Singapore...
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vttoh
2021-12-29
Concern...
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vttoh
2021-12-29
Sea Ltd good pick? Seems like.
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vttoh
2021-12-27
Yes, quiet..
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去老虎APP查看更多动态
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","content":"<html><head></head><body><p>* S&P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market "very tight"</p><p>* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a "very tight" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022," said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes "more hawkish than expected."</p><p>The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-06 06:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* S&P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market "very tight"</p><p>* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a "very tight" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022," said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes "more hawkish than expected."</p><p>The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4559":"巴菲特持仓","BK4534":"瑞士信贷持仓",".SPX":"S&P 500 Index","BK4550":"红杉资本持仓","BK4504":"桥水持仓","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201255535","content_text":"* S&P 500 posts biggest daily pct fall since Nov. 26* Fed minutes show officials said labor market \"very tight\"* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a \"very tight\" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.\"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes \"more hawkish than expected.\"The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.Growth shares have been under pressure from a recent rise in U.S. Treasury yields.The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695995619,"gmtCreate":1641288704536,"gmtModify":1641288704689,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Yes. Yeh.","listText":"Yes. Yeh.","text":"Yes. Yeh.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/695995619","repostId":"1179133564","repostType":4,"isVote":1,"tweetType":1,"viewCount":853,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692737586,"gmtCreate":1641214802888,"gmtModify":1641219171402,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Detail analysis.. volatile exciting..","listText":"Detail analysis.. volatile exciting..","text":"Detail analysis.. volatile exciting..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/692737586","repostId":"1171608797","repostType":4,"repost":{"id":"1171608797","kind":"news","pubTimestamp":1641177163,"share":"https://www.laohu8.com/m/news/1171608797?lang=&edition=full","pubTime":"2022-01-03 10:32","market":"us","language":"en","title":"Sea Limited: Engaging Wars On Multiple Fronts","url":"https://stock-news.laohu8.com/highlight/detail?id=1171608797","media":"Seeking Alpha","summary":"SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets ","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Shopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.</li><li>While Garena growth seems to be tapering down, we do not think its growth has peaked yet due to its strong monetization capabilities in the U.S and others.</li><li>SeaMoney is intentionally ramping up its sales and marketing efforts to drive more adoption to ShopeePay, and that is temporarily suppressing its margins.</li><li>Using a sum-of-parts valuation, the intrinsic value of the business is $341.33, a 55% upside from the current share price.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e67f7a326258558c1021793376f4c25\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"/><span>Wachiwit/iStock Editorial via Getty Images</span></p><p><b>Overview</b></p><p>Sea Limited is an internet platform company that consists of three main business segments – Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (digital financial services). Throughout the years, Sea Limited has been reinvesting aggressively into their business to capture market share rapidly and grow their user base in every region. Starting out from Singapore, they have since achieved a respectable presence in Southeast Asia, Taiwan, and most recently in Latin America. In this article, we will be unpacking Sea Limited Q3’21 results, as we share our thoughts on the quarter. Do also head to the previous article we have written for Sea Limited.</p><p><b>Garena</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/11f0e27a4acd7a2b1671fd01bf86d291\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>In Q3’21, Garena’s quarterly active users (“QAU”) grew 0.5% sequentially to 729 million, a slowdown in users growth due the law of large numbers. Bookings growth has also stagnated as a result. More users are increasingly transitioning into paying users as the paying user ratio (“PUR”) rose to 12.8%. Based on the low PUR, there is still a large opportunity to convert its existing user base into paying users.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/614efda95d41b79b0ed25736f40cbec8\" tg-width=\"1056\" tg-height=\"652\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Next, Garena’s average revenue per paying user (“ARPPU”) continues to taper down to $12.88, and that is likely due to most users coming from India and Latin America with much lower spending power. We will not rule out the possibility that Garena may increase the pricing of its in-game items to increase its monetization. Over time, the two key metrics that we should be measuring closely are PUR and ARPPU, and both tell us whether Garena can improve its monetizing capabilities to sustain its growth rate.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac621fe91314553c8c3337633f7055c6\" tg-width=\"970\" tg-height=\"759\" referrerpolicy=\"no-referrer\"/><span>Source: Sensortower</span></p><p>What is impressive during the quarter is that Garena Free Fire (“FF”) revenue per download (“RPD”) heavily surpassed its rivals in the United States, even though it has a much smaller user base. And despite PUBG re-launching in India in Q2'21, FF is still leading by the highest RPD, as well as app rankings, showing that it has better monetization capabilities than its peers. According to SensorTower, FF was also the top five most downloaded games worldwide for six consecutive quarters, and in Q3’21, it was ranked as top three. With the game nearing five years of operation, this removes any doubt that its growth has peaked, and it is well on its way to building an enduring franchise.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cb798c3496a01756720d7566f71ec6f\" tg-width=\"900\" tg-height=\"900\" referrerpolicy=\"no-referrer\"/><span>Source: Free Fire Twitter</span></p><p>Garena Free Fire Max, an enhanced version of the current FF game was also launched in the quarter. Interestingly, what caught our eye was the introduction of a new feature called “Craftland”, where FF offers a “platform” for users to unleash their creativity through creating their own maps and inviting their friends over to play. This helps to increase social interaction, engagements, and also the stickiness of the game. As of today, it has over 4.57 million downloads on Google Play Store and it has a high review of over 4 stars. If we head over to Youtube, there are plenty of videos related to “Craftland”, showing how well received it is by the FF community. Looking ahead, Garena seeks to introduce more content, features, modes, and gameplays to sustain its existing strong base of users.</p><p>On top of that, Garena’s strong global presence has also received accelerated interest from worldwide studios looking to partner up with them, and management states that they are working on new ideas in the pipeline.</p><p><b>Shopee</b></p><p><b>Expansion into other markets</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a9be6ee805f0031bdbda5f9091e2d818\" tg-width=\"748\" tg-height=\"556\" referrerpolicy=\"no-referrer\"/><span>Source: Shopee India</span></p><p>Shopee has also expanded into multiple markets, including France,Poland,Spain,India, and also Argentina. If we head to the websites, there are a few common traits that we observed, and that is Shopee replicating its playbook by giving out free shipping, free commission (to sellers), cashback, and vouchers across its platform to entice users to use the platform and to spur the flywheel effect. This has proven to work in countries in SEA and Brazil, as evident from its market leadership.</p><p><b>Operating and Financial Metrics</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e705eacc3dc34accf3e60455b81f0112\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Shopee recorded a growth rate of 80% which saw its GMV reach US$16.8 billion. Recently, Alibaba (NYSE:BABA) has disclosed the LTM revenue of Lazada, which is US$21 billion, up 60% YOY. By comparison, Shopee LTM GMV grew 90% YOY to $US56 billion, heavily surpassing that of its rival.</p><p>There are also signs of improving monetization as the take-rate increased sequentially to 8.93% during the quarter. As Shopee scales larger over time, it has the ability to increase its take-rate without losing its sellers as it is able to bring higher sales volume to its sellers than any other platform.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f793d575a267fe3e4fe60299189f29e\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Based on the total addressable market (“TAM”) of US$260 billion GMV, Shopee is the clear market leader with 21% of the TAM, followed by Lazada's 8%. This shows how quickly Shopee has been gobbling up market share, making it an undisputed leader in the region.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/88f5af1de4543fd03fcebaa9de4c1e3c\" tg-width=\"1280\" tg-height=\"678\" referrerpolicy=\"no-referrer\"/><span>Source: Google Trend</span></p><p>Data from Google Trend also shows that Shopee continues to lead ahead of Lazada and Tokopedia. Interestingly, Alibaba’s management has also laid out a goal to achieve a $US 100 billion GMV, although a timeline is not given. Alibaba is re-focusing its attention on the Southeast Asia market.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0411927ec3f53dbbbd0a669cae109dc7\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Shopee’s order volume grew 129% YOY, which is its ninth-consecutive quarter of triple-digit growth rate. By comparison, Lazada’s order growth rate was only 82%. This tells us that users are spending more on Shopee than Lazada, which is not surprising due to Shopee’s overwhelming consumers’ mindshare. To get an outlook into next quarter’s results, Shopee recorded 13 times more items sold on an average day in the first 2 hours of its 12.12 event promotion, revealing how successful the campaign was.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f5b0365bf05142d748d698ab1c3d0f1\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>The average order value ("AOV") continues to decline to $9.88 in the quarter. In our view, this is not a cause for worry. In the newer markets that Shopee has expanded into, users tend to start with smaller purchases with lower AOV. Over time, as they established more trust with the platform, they will increasingly move towards purchasing higher-ticket items.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a3be44b2dc1e75eaf3db57e1d823ecaa\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Turning to profitability, Shopee’s gross profit margin (“GPM”) was 26.72%, compared to 31.94% in Q2’21. This was largely due to the higher cost of revenue in the quarter, including higher logistic costs associated with order growth and value-added services such as inventory management and fulfillment services provided to customers.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d06185d6b36d451ed2095fabbc052ba6\" tg-width=\"1280\" tg-height=\"790\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>Sales and marketing expenses (“S&M”) expenses increased 124% YOY to $689 million, as Shopee ramp up its S&M efforts to capture more market share across its existing and new markets. As a result, S&M expenses as a % of GMV continue to fluctuate at 4.10%. Considering that some of its operating markets are in the early stages, investments may increase if the management spots any clear opportunities.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8aaa58e08ff935169c615806c98eadca\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>As a result of the lower gross profit and higher S&M expenses, Shopee’s adjusted loss per order fluctuates at a negative $0.40 in the quarter. This is notable considering Shopee entered many new countries with zero monetization, and took its profits from its matured markets to finance S&M expenses in the newer markets.</p><p>This is supported by a statement by Chief Corporate Officer Wang in Q2 2021:</p><blockquote>In terms of positive EBITDA from Malaysia, again, we're very happy to report that Malaysia has become the second market to achieve positive EBITDA after Taiwan for our Shopee business. And of course, it is followed by the results of better monetization over time as well as improving operational efficiency over time. As we stressed before that the marketplace e-commerce model in terms of profitability is highly proven and with scale and strong market leadership and ability to deliver a clear and increasing value to our seller communities, we will be able to make a strong profit down the road. And this is basically generating value to our communities and, by that, will generate value to our shareholders as well.</blockquote><p><b>Battle with the Incumbents</b></p><p>While Shopee expands aggressively, it is also important to consider the competitive landscape across its markets, and that includes the incumbent Allegro, a 20-year-old well-established local e-commerce platform in Poland, and Mercado Libre, the biggest e-commerce platform across Latin America (“LATAM”), particularly in Brazil, Mexico, and Argentina.</p><p><b>Latin America</b></p><p>According to Similarweb, Shopee’s web traffic is increasing steadily across LATAM, which include Colombia,Mexico, and Brazil, although MELI is leading by a wide margin.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d8e8ab3232fdc0a70c67186b0bae587c\" tg-width=\"552\" tg-height=\"556\" referrerpolicy=\"no-referrer\"/><span>Top shopping app in Colombia, Source: SensorTower</span></p><p>However, based on the app rankings on SensorTower, Shopee has surpassed and overtook MELI as the top shopping app across Mexico,Chile, Colombia, and Brazil. This was accomplished within a span of 6 months, excluding its operation in Brazil.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d50771a33f9bbe4451ae3b496eeed1db\" tg-width=\"1200\" tg-height=\"742\" referrerpolicy=\"no-referrer\"/><span>Source: Instagram</span></p><p>Alternatively, we can also track their social media followers as this gives us a sense of Shopee’s brand awareness in the region. As of ending Dec 2021, it has more followers than Mercardo in Colombia and Brazil, with Chile and Mexico coming close.</p><p><b>Poland</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/82d28504ed7a24520b23f28860b28fed\" tg-width=\"547\" tg-height=\"472\" referrerpolicy=\"no-referrer\"/><span>Figure - Shopee is the #1 shopping app in Poland, Source: Sensortower</span></p><p>Similarly in Poland, Shopee follows the same footprint whereby Allegro’s (WSE:ALE) web traffic leads by a mile, but it was overtaken by Shopee as the number one shopping app, and this was achieved within 3 months since Shopee was launched. In addition, Shopee and Allegro have 12.8k and 68k Instagram followers, respectively.</p><p>Although Allegro has over 10 million downloads on Google Play Store, this is insignificant considering that it is only a fraction of its total website visits of 222 million. This may suggest that there is lesser focus and emphasis on the mobile app.</p><p><b>Shopee Concluding Thoughts</b></p><p>It is not surprising to see this data surfaced because users in Poland and LATAM are more accustomed to shopping on the browser, and so there was much less emphasis on mobile. Therefore, Shopee leveraged its mobile-first approach, capitalizing on the opportunity and that has proven to be successful based on the data from third-party sources.</p><p>While investors seem to be concerned that Shopee is fighting too many wars on its front, including its expansion into India, Argentina, and France, the management has demonstrated that they are capable enough to execute given its strong localization capabilities. This long-term approach to sacrifice short-term profitability and pursue additional market share are also well-aligned to the shareholders.</p><p><b>Digital Finance - SeaMoney</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5d530155412cffe0c2f8eb8d2f56adb7\" tg-width=\"1280\" tg-height=\"791\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>In Q3’21, SeaMoney’s total payment volume (“TPV”) grew 119% YOY to reach $4.6 billion, and this was mainly driven by the increase in customers’ adoption of ShopeePay. There are also improvements in monetization as take-rate increased to 2.9% from 0.7% in Q3’20, and as a result, revenue grew at a staggering rate of over 800% YOY.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eefc6aab1a7fe29f20f51ef27681affa\" tg-width=\"946\" tg-height=\"604\" referrerpolicy=\"no-referrer\"/><span>Source: Own's Graph</span></p><p>During the earnings call, the management also talked about an inherent flywheel effect in SeaMoney, that as more merchants join ShopeePay, the number of use cases increases. This encourages consumers to use ShopeePay and thus drives further adoption. When the user base grows larger and larger, more merchants expressed their interest to get on board, accelerating the acquisition on both sides (merchants and consumers) of the business. Users also get additional benefits such as cashback and vouchers, which help to spur the network effect. Over time, customer acquisition costs (“CAC”) will also come down as more users join organically.</p><p>ShopeePay’s use cases include bill payments, contactless payment at offline retails, paying for taxi rides (i.e. partnership with Blue Bird Taxi in Indonesia), and many more.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17a8cd811e58a9ca86e248cb272f77e5\" tg-width=\"1280\" tg-height=\"787\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>S&M expenses increased 65% YoY as SeaMoney drives more adoption to its mobile wallet business. However, S&M expenses as a % of TPV have reduced to 4.26% from 5.64% a year ago, showing sales efficiency as lower marketing spending are translating into higher revenue growth. If we add back the S&M expenses to its adjusted EBITDA, its normalized margin for this quarter is actually 27.8%. This shows that its margin is artificially depressed as the management is intentionally spending on S&M to grow its market share.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/609d411ca867f1c02768681be73e44d6\" tg-width=\"1280\" tg-height=\"792\" referrerpolicy=\"no-referrer\"/><span>Source: Sea Quarterly Report</span></p><p>As of Q3’21, the number of quarterly paying users (“QPU”) reached 39.7 million, a 20% sequential growth from Q2’21. This existing user base is important as its digital bank is set to launch in 2022.</p><p>Diving deeper, we can get a glimpse into the upcoming financial products that will be launched based on Linkedin’s job openings, and that includes insurance,wealth management,prepaid cards, and as well as credit services revolving around repayment loans and revolving credits. And in Sep 2021, SeaMoney also launched its digital bank app in Indonesia.</p><p><b>Risks</b></p><p>The slowdown in Garena’s growth rate</p><ul><li><p>As Garena’s growth starts to taper down, it is important for us to track whether the PUR and ARPPU are increasing over time as these tell us whether they are improving their monetization capabilities.</p></li><li><p>However, we do not expect growth to decline drastically due to the highly engaging nature of the game, and as well as new ideas in the pipeline.</p></li></ul><p>Shopee aggressive expansion into new markets</p><ul><li><p>Shopee entry into new markets and the competitive pressure may accelerate its cash burn rate and erode its profit margin over time. However, we believe the risk is mitigated for a few reasons — due to the hefty $11.2 billion cash on its balance sheet, cash cow of Garena, and not to mention, Shopee is also profitable on a GPM basis.</p></li><li><p>Going forward, we should track Shopee’s website traffic,app rankings,google trends,social media followings to see if these investments are translating into results.</p></li></ul><p><b>Valuation</b></p><p>To calculate the intrinsic value of Sea Group, we will be using the sum-of-the-parts (“SOTP”) valuation model and some comparables.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e1008fe7564b4ddff7f3b72591d647e\" tg-width=\"1280\" tg-height=\"569\" referrerpolicy=\"no-referrer\"/><span>Source: Morningstar, OutlookIndia</span></p><p><b>Garena Valuation</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a02ef5f5a79b78be636a73b04be45e78\" tg-width=\"1280\" tg-height=\"137\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>To determine a reasonable multiple to assign to Garena, we cross-reference to other gaming peers such as Electronic Arts (NASDAQ:EA) and Activision Blizzard (NASDAQ:ATVI), which are trading at roughly 18x multiple. Considering that both companies are growing much faster, and growth rate in Q3’21, an implied multiple of 18x and a forward growth rate of 25% are reasonable. Therefore, Garena is worth approximately $63.83 billion.</p><p><b>Shopee Valuation</b></p><p>Looking at comparable transactions of Flipkart, Tokopedia, and Lazada, along with assessing the quality of each business, we think of a fair multiple of EV/GMV as 1x.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e90103e5677261fee18f312dd39b00\" tg-width=\"1280\" tg-height=\"129\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>With an implied EV/GMV of 1x, and a forward 100% growth rate on Shopee’s last 12 months (“LTM”) GMV of $56 billion, Shopee is worth $112.6 billion.</p><p><b>SeaMoney Valuation</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d5a874c9c714f6fda34c50a4354d107\" tg-width=\"423\" tg-height=\"535\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>Referencing from matured peers such as Paypal (NASDAQ: PYPL) with an operating margin of 25% and take-rate of 2.3%, we think that these financial metrics are achievable for SeaMoney. With a forward growth rate of 100% based on Q3’21 results, considering that it is still in the early stages and yet to launch its digital bank, this gives us an implied EV/TPV of 0.3x.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/08c8ea50bcca5f450ad3c27a79390bad\" tg-width=\"1280\" tg-height=\"129\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>With an implied EV/TPV of 0.3x, and a growth of 100% on the annualized TPV (based on Q3’21 TPV), SeaMoney is worth $11 billion.</p><p><b>Entire Business</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/340a2ecbea6bcb1460204dbe8aa82e58\" tg-width=\"1280\" tg-height=\"813\" referrerpolicy=\"no-referrer\"/><span>Source: Own Estimates</span></p><p>After calculating the individual business segments, this gives us a market cap of $196.9 billion for the entire business, after accounting for cash and debt. With shares outstanding of 576 million, after factoring in 4% dilution, this gives us an intrinsic value of $341.33 per share, a 55.4% upside from the current share price.</p><p><b>Conclusion</b></p><p>Shopee continues to extend its market leadership position by pursuing new growth opportunities in new markets. While Shopee seems to be fighting too many wars on its front, it has demonstrated that it has strong localization capabilities and the know-how to expand overseas as Shopee tops the shopping app across Latin America and Poland within a short span of 3 to 6 months. However, the incumbents are still leading by website traffic, and it is still early to judge whether Shopee could be a real threat to its rivals.</p><p>Next, while Garena’s growth seems to be slowing down, we do not think its growth has reached its peak because of its strong growth exhibited in the US, paying user ratio of only 12.8%, and potential games in the pipelines. With the management track record of creating highly engaging content on FF, we believe it can be an enduring franchise for years to come, with growth likely not to taper down so quickly.</p><p>The management is intentionally suppressing SeaMoney’s margins by ramping up the S&M efforts to drive more adoption to its mobile wallet business. However, they have demonstrated sales efficiency as S&M as % of revenue is declining YOY. With the digital bank set to launch in Singapore in FY2022, we believe SeaMoney is still in the early stages of growth.</p><p>Finally, based on our estimation, we believe Sea Group is worth $341.33 per share. This is a 55.4% upside from the current share price.</p><p>This article was written by Superstocks Seekers.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: Engaging Wars On Multiple Fronts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited: Engaging Wars On Multiple Fronts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-03 10:32 GMT+8 <a href=https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.While Garena growth seems to be tapering down, we do not think its ...</p>\n\n<a href=\"https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4477615-sea-limited-engaging-wars-multiple-fronts-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171608797","content_text":"SummaryShopee is taking a long-term approach by re-investing its margins to expand into new markets and pursue more market share.While Garena growth seems to be tapering down, we do not think its growth has peaked yet due to its strong monetization capabilities in the U.S and others.SeaMoney is intentionally ramping up its sales and marketing efforts to drive more adoption to ShopeePay, and that is temporarily suppressing its margins.Using a sum-of-parts valuation, the intrinsic value of the business is $341.33, a 55% upside from the current share price.Wachiwit/iStock Editorial via Getty ImagesOverviewSea Limited is an internet platform company that consists of three main business segments – Garena (digital entertainment), Shopee (e-commerce), and SeaMoney (digital financial services). Throughout the years, Sea Limited has been reinvesting aggressively into their business to capture market share rapidly and grow their user base in every region. Starting out from Singapore, they have since achieved a respectable presence in Southeast Asia, Taiwan, and most recently in Latin America. In this article, we will be unpacking Sea Limited Q3’21 results, as we share our thoughts on the quarter. Do also head to the previous article we have written for Sea Limited.GarenaSource: Sea Quarterly ReportIn Q3’21, Garena’s quarterly active users (“QAU”) grew 0.5% sequentially to 729 million, a slowdown in users growth due the law of large numbers. Bookings growth has also stagnated as a result. More users are increasingly transitioning into paying users as the paying user ratio (“PUR”) rose to 12.8%. Based on the low PUR, there is still a large opportunity to convert its existing user base into paying users.Source: Sea Quarterly ReportNext, Garena’s average revenue per paying user (“ARPPU”) continues to taper down to $12.88, and that is likely due to most users coming from India and Latin America with much lower spending power. We will not rule out the possibility that Garena may increase the pricing of its in-game items to increase its monetization. Over time, the two key metrics that we should be measuring closely are PUR and ARPPU, and both tell us whether Garena can improve its monetizing capabilities to sustain its growth rate.Source: SensortowerWhat is impressive during the quarter is that Garena Free Fire (“FF”) revenue per download (“RPD”) heavily surpassed its rivals in the United States, even though it has a much smaller user base. And despite PUBG re-launching in India in Q2'21, FF is still leading by the highest RPD, as well as app rankings, showing that it has better monetization capabilities than its peers. According to SensorTower, FF was also the top five most downloaded games worldwide for six consecutive quarters, and in Q3’21, it was ranked as top three. With the game nearing five years of operation, this removes any doubt that its growth has peaked, and it is well on its way to building an enduring franchise.Source: Free Fire TwitterGarena Free Fire Max, an enhanced version of the current FF game was also launched in the quarter. Interestingly, what caught our eye was the introduction of a new feature called “Craftland”, where FF offers a “platform” for users to unleash their creativity through creating their own maps and inviting their friends over to play. This helps to increase social interaction, engagements, and also the stickiness of the game. As of today, it has over 4.57 million downloads on Google Play Store and it has a high review of over 4 stars. If we head over to Youtube, there are plenty of videos related to “Craftland”, showing how well received it is by the FF community. Looking ahead, Garena seeks to introduce more content, features, modes, and gameplays to sustain its existing strong base of users.On top of that, Garena’s strong global presence has also received accelerated interest from worldwide studios looking to partner up with them, and management states that they are working on new ideas in the pipeline.ShopeeExpansion into other marketsSource: Shopee IndiaShopee has also expanded into multiple markets, including France,Poland,Spain,India, and also Argentina. If we head to the websites, there are a few common traits that we observed, and that is Shopee replicating its playbook by giving out free shipping, free commission (to sellers), cashback, and vouchers across its platform to entice users to use the platform and to spur the flywheel effect. This has proven to work in countries in SEA and Brazil, as evident from its market leadership.Operating and Financial MetricsSource: Sea Quarterly ReportShopee recorded a growth rate of 80% which saw its GMV reach US$16.8 billion. Recently, Alibaba (NYSE:BABA) has disclosed the LTM revenue of Lazada, which is US$21 billion, up 60% YOY. By comparison, Shopee LTM GMV grew 90% YOY to $US56 billion, heavily surpassing that of its rival.There are also signs of improving monetization as the take-rate increased sequentially to 8.93% during the quarter. As Shopee scales larger over time, it has the ability to increase its take-rate without losing its sellers as it is able to bring higher sales volume to its sellers than any other platform.Source: Sea Quarterly ReportBased on the total addressable market (“TAM”) of US$260 billion GMV, Shopee is the clear market leader with 21% of the TAM, followed by Lazada's 8%. This shows how quickly Shopee has been gobbling up market share, making it an undisputed leader in the region.Source: Google TrendData from Google Trend also shows that Shopee continues to lead ahead of Lazada and Tokopedia. Interestingly, Alibaba’s management has also laid out a goal to achieve a $US 100 billion GMV, although a timeline is not given. Alibaba is re-focusing its attention on the Southeast Asia market.Source: Sea Quarterly ReportShopee’s order volume grew 129% YOY, which is its ninth-consecutive quarter of triple-digit growth rate. By comparison, Lazada’s order growth rate was only 82%. This tells us that users are spending more on Shopee than Lazada, which is not surprising due to Shopee’s overwhelming consumers’ mindshare. To get an outlook into next quarter’s results, Shopee recorded 13 times more items sold on an average day in the first 2 hours of its 12.12 event promotion, revealing how successful the campaign was.Source: Sea Quarterly ReportThe average order value (\"AOV\") continues to decline to $9.88 in the quarter. In our view, this is not a cause for worry. In the newer markets that Shopee has expanded into, users tend to start with smaller purchases with lower AOV. Over time, as they established more trust with the platform, they will increasingly move towards purchasing higher-ticket items.Source: Sea Quarterly ReportTurning to profitability, Shopee’s gross profit margin (“GPM”) was 26.72%, compared to 31.94% in Q2’21. This was largely due to the higher cost of revenue in the quarter, including higher logistic costs associated with order growth and value-added services such as inventory management and fulfillment services provided to customers.Source: Sea Quarterly ReportSales and marketing expenses (“S&M”) expenses increased 124% YOY to $689 million, as Shopee ramp up its S&M efforts to capture more market share across its existing and new markets. As a result, S&M expenses as a % of GMV continue to fluctuate at 4.10%. Considering that some of its operating markets are in the early stages, investments may increase if the management spots any clear opportunities.Source: Sea Quarterly ReportAs a result of the lower gross profit and higher S&M expenses, Shopee’s adjusted loss per order fluctuates at a negative $0.40 in the quarter. This is notable considering Shopee entered many new countries with zero monetization, and took its profits from its matured markets to finance S&M expenses in the newer markets.This is supported by a statement by Chief Corporate Officer Wang in Q2 2021:In terms of positive EBITDA from Malaysia, again, we're very happy to report that Malaysia has become the second market to achieve positive EBITDA after Taiwan for our Shopee business. And of course, it is followed by the results of better monetization over time as well as improving operational efficiency over time. As we stressed before that the marketplace e-commerce model in terms of profitability is highly proven and with scale and strong market leadership and ability to deliver a clear and increasing value to our seller communities, we will be able to make a strong profit down the road. And this is basically generating value to our communities and, by that, will generate value to our shareholders as well.Battle with the IncumbentsWhile Shopee expands aggressively, it is also important to consider the competitive landscape across its markets, and that includes the incumbent Allegro, a 20-year-old well-established local e-commerce platform in Poland, and Mercado Libre, the biggest e-commerce platform across Latin America (“LATAM”), particularly in Brazil, Mexico, and Argentina.Latin AmericaAccording to Similarweb, Shopee’s web traffic is increasing steadily across LATAM, which include Colombia,Mexico, and Brazil, although MELI is leading by a wide margin.Top shopping app in Colombia, Source: SensorTowerHowever, based on the app rankings on SensorTower, Shopee has surpassed and overtook MELI as the top shopping app across Mexico,Chile, Colombia, and Brazil. This was accomplished within a span of 6 months, excluding its operation in Brazil.Source: InstagramAlternatively, we can also track their social media followers as this gives us a sense of Shopee’s brand awareness in the region. As of ending Dec 2021, it has more followers than Mercardo in Colombia and Brazil, with Chile and Mexico coming close.PolandFigure - Shopee is the #1 shopping app in Poland, Source: SensortowerSimilarly in Poland, Shopee follows the same footprint whereby Allegro’s (WSE:ALE) web traffic leads by a mile, but it was overtaken by Shopee as the number one shopping app, and this was achieved within 3 months since Shopee was launched. In addition, Shopee and Allegro have 12.8k and 68k Instagram followers, respectively.Although Allegro has over 10 million downloads on Google Play Store, this is insignificant considering that it is only a fraction of its total website visits of 222 million. This may suggest that there is lesser focus and emphasis on the mobile app.Shopee Concluding ThoughtsIt is not surprising to see this data surfaced because users in Poland and LATAM are more accustomed to shopping on the browser, and so there was much less emphasis on mobile. Therefore, Shopee leveraged its mobile-first approach, capitalizing on the opportunity and that has proven to be successful based on the data from third-party sources.While investors seem to be concerned that Shopee is fighting too many wars on its front, including its expansion into India, Argentina, and France, the management has demonstrated that they are capable enough to execute given its strong localization capabilities. This long-term approach to sacrifice short-term profitability and pursue additional market share are also well-aligned to the shareholders.Digital Finance - SeaMoneySource: Sea Quarterly ReportIn Q3’21, SeaMoney’s total payment volume (“TPV”) grew 119% YOY to reach $4.6 billion, and this was mainly driven by the increase in customers’ adoption of ShopeePay. There are also improvements in monetization as take-rate increased to 2.9% from 0.7% in Q3’20, and as a result, revenue grew at a staggering rate of over 800% YOY.Source: Own's GraphDuring the earnings call, the management also talked about an inherent flywheel effect in SeaMoney, that as more merchants join ShopeePay, the number of use cases increases. This encourages consumers to use ShopeePay and thus drives further adoption. When the user base grows larger and larger, more merchants expressed their interest to get on board, accelerating the acquisition on both sides (merchants and consumers) of the business. Users also get additional benefits such as cashback and vouchers, which help to spur the network effect. Over time, customer acquisition costs (“CAC”) will also come down as more users join organically.ShopeePay’s use cases include bill payments, contactless payment at offline retails, paying for taxi rides (i.e. partnership with Blue Bird Taxi in Indonesia), and many more.Source: Sea Quarterly ReportS&M expenses increased 65% YoY as SeaMoney drives more adoption to its mobile wallet business. However, S&M expenses as a % of TPV have reduced to 4.26% from 5.64% a year ago, showing sales efficiency as lower marketing spending are translating into higher revenue growth. If we add back the S&M expenses to its adjusted EBITDA, its normalized margin for this quarter is actually 27.8%. This shows that its margin is artificially depressed as the management is intentionally spending on S&M to grow its market share.Source: Sea Quarterly ReportAs of Q3’21, the number of quarterly paying users (“QPU”) reached 39.7 million, a 20% sequential growth from Q2’21. This existing user base is important as its digital bank is set to launch in 2022.Diving deeper, we can get a glimpse into the upcoming financial products that will be launched based on Linkedin’s job openings, and that includes insurance,wealth management,prepaid cards, and as well as credit services revolving around repayment loans and revolving credits. And in Sep 2021, SeaMoney also launched its digital bank app in Indonesia.RisksThe slowdown in Garena’s growth rateAs Garena’s growth starts to taper down, it is important for us to track whether the PUR and ARPPU are increasing over time as these tell us whether they are improving their monetization capabilities.However, we do not expect growth to decline drastically due to the highly engaging nature of the game, and as well as new ideas in the pipeline.Shopee aggressive expansion into new marketsShopee entry into new markets and the competitive pressure may accelerate its cash burn rate and erode its profit margin over time. However, we believe the risk is mitigated for a few reasons — due to the hefty $11.2 billion cash on its balance sheet, cash cow of Garena, and not to mention, Shopee is also profitable on a GPM basis.Going forward, we should track Shopee’s website traffic,app rankings,google trends,social media followings to see if these investments are translating into results.ValuationTo calculate the intrinsic value of Sea Group, we will be using the sum-of-the-parts (“SOTP”) valuation model and some comparables.Source: Morningstar, OutlookIndiaGarena ValuationSource: Own EstimatesTo determine a reasonable multiple to assign to Garena, we cross-reference to other gaming peers such as Electronic Arts (NASDAQ:EA) and Activision Blizzard (NASDAQ:ATVI), which are trading at roughly 18x multiple. Considering that both companies are growing much faster, and growth rate in Q3’21, an implied multiple of 18x and a forward growth rate of 25% are reasonable. Therefore, Garena is worth approximately $63.83 billion.Shopee ValuationLooking at comparable transactions of Flipkart, Tokopedia, and Lazada, along with assessing the quality of each business, we think of a fair multiple of EV/GMV as 1x.Source: Own EstimatesWith an implied EV/GMV of 1x, and a forward 100% growth rate on Shopee’s last 12 months (“LTM”) GMV of $56 billion, Shopee is worth $112.6 billion.SeaMoney ValuationSource: Own EstimatesReferencing from matured peers such as Paypal (NASDAQ: PYPL) with an operating margin of 25% and take-rate of 2.3%, we think that these financial metrics are achievable for SeaMoney. With a forward growth rate of 100% based on Q3’21 results, considering that it is still in the early stages and yet to launch its digital bank, this gives us an implied EV/TPV of 0.3x.Source: Own EstimatesWith an implied EV/TPV of 0.3x, and a growth of 100% on the annualized TPV (based on Q3’21 TPV), SeaMoney is worth $11 billion.Entire BusinessSource: Own EstimatesAfter calculating the individual business segments, this gives us a market cap of $196.9 billion for the entire business, after accounting for cash and debt. With shares outstanding of 576 million, after factoring in 4% dilution, this gives us an intrinsic value of $341.33 per share, a 55.4% upside from the current share price.ConclusionShopee continues to extend its market leadership position by pursuing new growth opportunities in new markets. While Shopee seems to be fighting too many wars on its front, it has demonstrated that it has strong localization capabilities and the know-how to expand overseas as Shopee tops the shopping app across Latin America and Poland within a short span of 3 to 6 months. However, the incumbents are still leading by website traffic, and it is still early to judge whether Shopee could be a real threat to its rivals.Next, while Garena’s growth seems to be slowing down, we do not think its growth has reached its peak because of its strong growth exhibited in the US, paying user ratio of only 12.8%, and potential games in the pipelines. With the management track record of creating highly engaging content on FF, we believe it can be an enduring franchise for years to come, with growth likely not to taper down so quickly.The management is intentionally suppressing SeaMoney’s margins by ramping up the S&M efforts to drive more adoption to its mobile wallet business. However, they have demonstrated sales efficiency as S&M as % of revenue is declining YOY. With the digital bank set to launch in Singapore in FY2022, we believe SeaMoney is still in the early stages of growth.Finally, based on our estimation, we believe Sea Group is worth $341.33 per share. This is a 55.4% upside from the current share price.This article was written by Superstocks Seekers.","news_type":1},"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692417856,"gmtCreate":1641169354679,"gmtModify":1641169354796,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"👍 jia you.. Singapore...","listText":"👍 jia you.. Singapore...","text":"👍 jia you.. Singapore...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/692417856","repostId":"1162646587","repostType":2,"isVote":1,"tweetType":1,"viewCount":737,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692089011,"gmtCreate":1640791587100,"gmtModify":1640791587180,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Concern...","listText":"Concern...","text":"Concern...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/692089011","repostId":"1155603486","repostType":4,"isVote":1,"tweetType":1,"viewCount":769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696456418,"gmtCreate":1640753584942,"gmtModify":1640753585045,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Sea Ltd good pick? Seems like.","listText":"Sea Ltd good pick? Seems like.","text":"Sea Ltd good pick? Seems like.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696456418","repostId":"2194074487","repostType":4,"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696982520,"gmtCreate":1640599692695,"gmtModify":1640599692761,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Yes, quiet..","listText":"Yes, quiet..","text":"Yes, quiet..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696982520","repostId":"1137690498","repostType":4,"isVote":1,"tweetType":1,"viewCount":1460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":695854014,"gmtCreate":1641428283183,"gmtModify":1641428283183,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Market correction?","listText":"Market correction?","text":"Market correction?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":1,"link":"https://laohu8.com/post/695854014","repostId":"2201255535","repostType":4,"repost":{"id":"2201255535","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1641423313,"share":"https://www.laohu8.com/m/news/2201255535?lang=&edition=full","pubTime":"2022-01-06 06:55","market":"us","language":"en","title":"Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes","url":"https://stock-news.laohu8.com/highlight/detail?id=2201255535","media":"Reuters","summary":"* S&P 500 posts biggest daily pct fall since Nov. 26* Fed minutes show officials said labor market \"very tight\"* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%NEW YORK, Jan 5 (Reuters) - ","content":"<html><head></head><body><p>* S&P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market "very tight"</p><p>* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a "very tight" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022," said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes "more hawkish than expected."</p><p>The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes</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\">\nNasdaq posts biggest daily drop since Feb after 'hawkish' Fed minutes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-01-06 06:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* S&P 500 posts biggest daily pct fall since Nov. 26</p><p>* Fed minutes show officials said labor market "very tight"</p><p>* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%</p><p>NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.</p><p>The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.</p><p>The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.</p><p>The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.</p><p>In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a "very tight" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.</p><p>"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022," said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes "more hawkish than expected."</p><p>The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.</p><p>The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.</p><p>Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.</p><p>Growth shares have been under pressure from a recent rise in U.S. Treasury yields.</p><p>The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.</p><p>Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.</p><p>Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.</p><p>The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.</p><p>Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.</p><p>The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.</p><p>Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4559":"巴菲特持仓","BK4534":"瑞士信贷持仓",".SPX":"S&P 500 Index","BK4550":"红杉资本持仓","BK4504":"桥水持仓","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2201255535","content_text":"* S&P 500 posts biggest daily pct fall since Nov. 26* Fed minutes show officials said labor market \"very tight\"* Indexes: Dow down 1.1%, S&P 500 down 1.9%, Nasdaq down 3.3%NEW YORK, Jan 5 (Reuters) - U.S. stocks fell sharply on Wednesday, with the Nasdaq plunging more than 3% in its biggest one-day percentage drop since February, after U.S. Federal Reserve meeting minutes signaled the central bank may raise interest rates sooner than expected.The S&P 500 fell more than 1%, its biggest daily percentage decline since Nov. 26, the first day of trading after news of the Omicron variant of the coronavirus.The S&P 500 and Nasdaq quickly extended their declines after the release of the minutes, which investors viewed as more hawkish than they had feared. The Dow, which hit a record high earlier in the day, reversed course and ended down more than 1%.The selloff was broad, with all S&P sectors ending in the red, and Wall Street's fear gauge, the Cboe Volatility index, closing at its highest level since Dec. 21.In the minutes from the Fed's Dec. 14-15 policy meeting, central bank policymakers said a \"very tight\" job market and unabated inflation might require the Fed to raise rates sooner and begin reducing its overall asset holdings as a second brake on the economy.\"Indications that the Fed is very concerned about inflation could quickly create a view that the Fed will aggressively tighten in 2022,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York, calling the minutes \"more hawkish than expected.\"The S&P 500 technology sector fell 3.1% and was the biggest drag on the benchmark index, while the rate-sensitive real estate sector dropped 3.2% in its biggest daily percentage decline since Jan. 4, 2021.The Dow Jones Industrial Average fell 392.54 points, or 1.07%, to 36,407.11, the S&P 500 lost 92.96 points, or 1.94%, to 4,700.58 and the Nasdaq Composite dropped 522.54 points, or 3.34%, to 15,100.17.Rising interest rates increase borrowing costs for businesses and consumers, and higher rates can depress stock multiples, especially for technology and other growth stocks.Growth shares have been under pressure from a recent rise in U.S. Treasury yields.The Russell 2000 index also suffered its biggest one-day drop since Nov. 26, while the S&P 500 financials index fell 1.3%, a day after it registered an all-time closing high.Policymakers in December agreed to hasten the end of their pandemic-era program of bond purchases, and issued forecasts anticipating three quarter-percentage-point rate increases during 2022. The Fed's benchmark overnight interest rate is currently set near zero.Early in the day, an ADP National Employment report showed private payrolls increased by 807,000 jobs last month, more than double of what economists polled by Reuters had forecast.The report comes ahead of the Labor Department's more comprehensive and closely watched nonfarm payrolls data for December on Friday.Declining issues outnumbered advancing ones on the NYSE by a 4.32-to-1 ratio; on Nasdaq, a 4.22-to-1 ratio favored decliners.The S&P 500 posted 59 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 81 new highs and 307 new lows.Volume on U.S. exchanges was 12.18 billion shares, compared with the 10.4 billion average for the full session over the last 20 trading days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":773,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696982520,"gmtCreate":1640599692695,"gmtModify":1640599692761,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Yes, quiet..","listText":"Yes, quiet..","text":"Yes, quiet..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696982520","repostId":"1137690498","repostType":4,"isVote":1,"tweetType":1,"viewCount":1460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696456418,"gmtCreate":1640753584942,"gmtModify":1640753585045,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Sea Ltd good pick? Seems like.","listText":"Sea Ltd good pick? Seems like.","text":"Sea Ltd good pick? Seems like.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696456418","repostId":"2194074487","repostType":4,"repost":{"id":"2194074487","kind":"highlight","pubTimestamp":1640749814,"share":"https://www.laohu8.com/m/news/2194074487?lang=&edition=full","pubTime":"2021-12-29 11:50","market":"us","language":"en","title":"4 Growth Stocks Expected to Skyrocket in 2022, According to Wall Street","url":"https://stock-news.laohu8.com/highlight/detail?id=2194074487","media":"Motley Fool","summary":"Select analysts and investment banks believe these fast-paced companies can catapult higher by 107% to 240% next year.","content":"<p>In just a few days we'll close the book on what's been another great year for the broad-market indexes. Through the holiday-shortened week, the benchmark <b>S&P 500</b> had hit 68 record-closing highs for the year and was up by 26%.</p>\n<p>Yet, in spite of this above-average performance, select Wall Street analysts and investment banks still see incredible value from a quartet of growth stocks. Based on the high-water price target on Wall Street for each respective company, these four stocks are expected to skyrocket between 107% and 240% in 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4b374767519664b8db44345db4054856\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<h2>Teladoc Health: Implied upside of 126%</h2>\n<p>It's been a wild ride for telehealth kingpin <b>Teladoc Health</b> (NYSE:TDOC). After more than doubling in 2020 amid the coronavirus pandemic, the virtual visit platform has been more than halved this year. But if analyst Sean Dodge of RBC Capital proves accurate in his estimate, Teladoc could rocket 126% higher to a price target of $215 in 2022.</p>\n<p>While critics would argue that Teladoc's sales growth in 2020 was a flash in the pan, the company's growth prior to the pandemic suggests otherwise. In the six years leading up to the pandemic, it grew sales by an annual average of 74%.</p>\n<p>The fact is that Teladoc is changing the face of personalized care. Its virtual visit platform is more convenient for patients and can allow physicians to keep closer tabs on chronically ill people. This should ultimately result in improved patient outcomes and lower costs for health insurers. This latter is particularly important since it means insurers will promote the use of telemedicine, when applicable.</p>\n<p>Teladoc's supercharged growth also comes on the heels of its acquisition of leading applied health signals company Livongo Health a year ago. Livongo uses artificial intelligence to send tips and nudges to its enrolled members with chronic illnesses, such as diabetes and hypertension. The ability for Teladoc and Livongo to cross-sell should help the company maintain jaw-dropping growth potential.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f46d76c781cc47d68033914c1c794a63\" tg-width=\"700\" tg-height=\"467\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<h2>Trulieve Cannabis: Implied upside of 169%</h2>\n<p>If there's an industry where Wall Street's price targets are consistently well above where the underlying stocks are currently trading, it's cannabis -- specifically U.S. cannabis. If the prognostication of Cantor Fitzgerald analyst Pablo Zuanic proves correct, marijuana stock <b>Trulieve Cannabis</b> (OTC:TCNNF) could hit $72 in 2022. That represents upside of 169%, relative to where shares closed last week.</p>\n<p>Like most multi-state operators (MSO), Trulieve is letting its retail operations do most of the work. But Trulieve took a different path to growth than most MSOs. Instead of trying to plant its proverbial flag in as many legalized states as possible, Trulieve focused most of its attention on saturating medical marijuana-legal Florida. Less than a week ago, it opened its 112th dispensary in the Sunshine State, which compares to 47 outside of Florida.</p>\n<p>Focusing on a single high-dollar market has its perks. Since Trulieve controls well over a quarter of all statewide dispensaries in Florida, it doesn't have to spend much on marketing. Not having to budget a lot of money to build up its brands has resulted in three consecutive years of profitability for the company.</p>\n<p>The next exciting step for Trulieve is inorganic growth. In October, it closed the biggest deal in U.S. cannabis history by purchasing MSO Harvest Health & Recreation. Harvest has a dominant presence in its home market of Arizona, which legalized adult-use weed in November 2020. With a huge presence in Florida and now other high-dollar markets, Trulieve's shares do appear inexpensive.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/adeabde34f734ed7e50341c423f99b88\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<h2>Root: Implied upside of 240%</h2>\n<p>Small-cap stocks are expected to get in on the action, too. Following an abysmal year that's seen shares of insurance company <b>Root</b> (NASDAQ:ROOT) decline by 79%, at least <a href=\"https://laohu8.com/S/AONE.U\">one</a> investment bank is expecting a big rebound. Based on Wall Street's high price target of $11, Root offers upside of 240% in 2022.</p>\n<p>For decades, the auto insurance industry has used an assortment of metrics, such as credit scores, age, and marital status, to determine how much their members should pay each month. Unfortunately, these figures don't actually tell insurance companies how well or poor of a driver someone is. Root is aiming to disrupt this stodgy industry by relying on telematics.</p>\n<p>In simple terms, Root is using highly sensitive equipment found in smartphones to detect G-forces while a driver brakes, accelerates, and turns. Utilizing true driving data, as well as driving trends within a state or region, should allow the company to accurately price policies up front for new members.</p>\n<p>On the downside, Root is a relatively new player, which means it's going to have to spend aggressively to build up its brand (i.e., expect sizable losses to continue). However, initial accident loss ratios have been mostly encouraging. With gross accident period loss ratios coming in below 100% for much of the past two years -- a figure below 100% implies a profitably written policy -- the data suggests a telematics-based approach can be successful.</p>\n<p>Root is a very risky investment, but it does offer incredible reward potential.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/81aa2c60b7ad9fa0ab9c99c53e91fca6\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"><span>Image source: Getty Images.</span></p>\n<h2>Sea Limited: Implied upside of 107%</h2>\n<p>Wall Street also sees big things happening for Singapore-based company <b>Sea Limited</b> (NYSE:SE), which has been in a precipitous downtrend over the past two months. If the $460 price target from <b>Goldman Sachs </b>analyst Piyush Mubayi is correct, megacap stock Sea could more than double in value next year.</p>\n<p>The lure of Sea Limited is that it has a trio of rapidly growing and diversified operating segments.</p>\n<p>For the moment, the company's digital entertainment division is the only one of the three generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA). Sea's mobile game, <i>Free Fire</i>, continues to be a worldwide hit. In the September-ended quarter, 12.8% of its 729 million gamers were paying to play. That's a pay-to-play conversion ratio that's many multiples higher than the industry average.</p>\n<p>Secondly, Sea's nascent digital financial services segment is gaining traction. There are now more than 39 million people using the company's digital wallet services, with payment volume hitting $4.6 billion in the third quarter.</p>\n<p>The third fast-growing segment, and arguably what has investors so excited about Sea, is e-commerce platform Shopee. Shopee is consistently the most-downloaded shopping app in Southeastern Asia, and it's gained plenty of appeal in Brazil. Since it's primarily targeting emerging market countries with burgeoning middle classes, growth is off the scale. The $16.8 billion in gross merchandise value (GMV) on Shopee in Q3 2021 is more than the $10 billion in GMV for all of 2018, just to give you an idea of how quickly this segment is growing.</p>\n<p>While $460 in 2022 might be asking a bit much, upside does seem warranted.</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>4 Growth Stocks Expected to Skyrocket in 2022, According to Wall Street</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\">\n4 Growth Stocks Expected to Skyrocket in 2022, According to Wall Street\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-29 11:50 GMT+8 <a href=https://www.fool.com/investing/2021/12/28/4-growth-stocks-skyrocket-in-2022-wall-street/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In just a few days we'll close the book on what's been another great year for the broad-market indexes. Through the holiday-shortened week, the benchmark S&P 500 had hit 68 record-closing highs for ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/28/4-growth-stocks-skyrocket-in-2022-wall-street/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BK4534":"瑞士信贷持仓","BK4567":"ESG概念","BK4505":"高瓴资本持仓","BK4107":"财产与意外伤害保险","BK4085":"互动家庭娱乐","BK4504":"桥水持仓","BK4548":"巴美列捷福持仓","SE":"Sea Ltd","BK4554":"元宇宙及AR概念","BK4566":"资本集团","BK4503":"景林资产持仓","ROOT":"Root, Inc.","TDOC":"Teladoc Health Inc.","BK4535":"淡马锡持仓","BK4551":"寇图资本持仓","BK4167":"医疗保健技术"},"source_url":"https://www.fool.com/investing/2021/12/28/4-growth-stocks-skyrocket-in-2022-wall-street/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2194074487","content_text":"In just a few days we'll close the book on what's been another great year for the broad-market indexes. Through the holiday-shortened week, the benchmark S&P 500 had hit 68 record-closing highs for the year and was up by 26%.\nYet, in spite of this above-average performance, select Wall Street analysts and investment banks still see incredible value from a quartet of growth stocks. Based on the high-water price target on Wall Street for each respective company, these four stocks are expected to skyrocket between 107% and 240% in 2022.\nImage source: Getty Images.\nTeladoc Health: Implied upside of 126%\nIt's been a wild ride for telehealth kingpin Teladoc Health (NYSE:TDOC). After more than doubling in 2020 amid the coronavirus pandemic, the virtual visit platform has been more than halved this year. But if analyst Sean Dodge of RBC Capital proves accurate in his estimate, Teladoc could rocket 126% higher to a price target of $215 in 2022.\nWhile critics would argue that Teladoc's sales growth in 2020 was a flash in the pan, the company's growth prior to the pandemic suggests otherwise. In the six years leading up to the pandemic, it grew sales by an annual average of 74%.\nThe fact is that Teladoc is changing the face of personalized care. Its virtual visit platform is more convenient for patients and can allow physicians to keep closer tabs on chronically ill people. This should ultimately result in improved patient outcomes and lower costs for health insurers. This latter is particularly important since it means insurers will promote the use of telemedicine, when applicable.\nTeladoc's supercharged growth also comes on the heels of its acquisition of leading applied health signals company Livongo Health a year ago. Livongo uses artificial intelligence to send tips and nudges to its enrolled members with chronic illnesses, such as diabetes and hypertension. The ability for Teladoc and Livongo to cross-sell should help the company maintain jaw-dropping growth potential.\nImage source: Getty Images.\nTrulieve Cannabis: Implied upside of 169%\nIf there's an industry where Wall Street's price targets are consistently well above where the underlying stocks are currently trading, it's cannabis -- specifically U.S. cannabis. If the prognostication of Cantor Fitzgerald analyst Pablo Zuanic proves correct, marijuana stock Trulieve Cannabis (OTC:TCNNF) could hit $72 in 2022. That represents upside of 169%, relative to where shares closed last week.\nLike most multi-state operators (MSO), Trulieve is letting its retail operations do most of the work. But Trulieve took a different path to growth than most MSOs. Instead of trying to plant its proverbial flag in as many legalized states as possible, Trulieve focused most of its attention on saturating medical marijuana-legal Florida. Less than a week ago, it opened its 112th dispensary in the Sunshine State, which compares to 47 outside of Florida.\nFocusing on a single high-dollar market has its perks. Since Trulieve controls well over a quarter of all statewide dispensaries in Florida, it doesn't have to spend much on marketing. Not having to budget a lot of money to build up its brands has resulted in three consecutive years of profitability for the company.\nThe next exciting step for Trulieve is inorganic growth. In October, it closed the biggest deal in U.S. cannabis history by purchasing MSO Harvest Health & Recreation. Harvest has a dominant presence in its home market of Arizona, which legalized adult-use weed in November 2020. With a huge presence in Florida and now other high-dollar markets, Trulieve's shares do appear inexpensive.\nImage source: Getty Images.\nRoot: Implied upside of 240%\nSmall-cap stocks are expected to get in on the action, too. Following an abysmal year that's seen shares of insurance company Root (NASDAQ:ROOT) decline by 79%, at least one investment bank is expecting a big rebound. Based on Wall Street's high price target of $11, Root offers upside of 240% in 2022.\nFor decades, the auto insurance industry has used an assortment of metrics, such as credit scores, age, and marital status, to determine how much their members should pay each month. Unfortunately, these figures don't actually tell insurance companies how well or poor of a driver someone is. Root is aiming to disrupt this stodgy industry by relying on telematics.\nIn simple terms, Root is using highly sensitive equipment found in smartphones to detect G-forces while a driver brakes, accelerates, and turns. Utilizing true driving data, as well as driving trends within a state or region, should allow the company to accurately price policies up front for new members.\nOn the downside, Root is a relatively new player, which means it's going to have to spend aggressively to build up its brand (i.e., expect sizable losses to continue). However, initial accident loss ratios have been mostly encouraging. With gross accident period loss ratios coming in below 100% for much of the past two years -- a figure below 100% implies a profitably written policy -- the data suggests a telematics-based approach can be successful.\nRoot is a very risky investment, but it does offer incredible reward potential.\nImage source: Getty Images.\nSea Limited: Implied upside of 107%\nWall Street also sees big things happening for Singapore-based company Sea Limited (NYSE:SE), which has been in a precipitous downtrend over the past two months. If the $460 price target from Goldman Sachs analyst Piyush Mubayi is correct, megacap stock Sea could more than double in value next year.\nThe lure of Sea Limited is that it has a trio of rapidly growing and diversified operating segments.\nFor the moment, the company's digital entertainment division is the only one of the three generating positive earnings before interest, taxes, depreciation, and amortization (EBITDA). Sea's mobile game, Free Fire, continues to be a worldwide hit. In the September-ended quarter, 12.8% of its 729 million gamers were paying to play. That's a pay-to-play conversion ratio that's many multiples higher than the industry average.\nSecondly, Sea's nascent digital financial services segment is gaining traction. There are now more than 39 million people using the company's digital wallet services, with payment volume hitting $4.6 billion in the third quarter.\nThe third fast-growing segment, and arguably what has investors so excited about Sea, is e-commerce platform Shopee. Shopee is consistently the most-downloaded shopping app in Southeastern Asia, and it's gained plenty of appeal in Brazil. Since it's primarily targeting emerging market countries with burgeoning middle classes, growth is off the scale. The $16.8 billion in gross merchandise value (GMV) on Shopee in Q3 2021 is more than the $10 billion in GMV for all of 2018, just to give you an idea of how quickly this segment is growing.\nWhile $460 in 2022 might be asking a bit much, upside does seem warranted.","news_type":1},"isVote":1,"tweetType":1,"viewCount":781,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695995619,"gmtCreate":1641288704536,"gmtModify":1641288704689,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"Yes. Yeh.","listText":"Yes. Yeh.","text":"Yes. Yeh.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/695995619","repostId":"1179133564","repostType":4,"repost":{"id":"1179133564","kind":"news","pubTimestamp":1641266758,"share":"https://www.laohu8.com/m/news/1179133564?lang=&edition=full","pubTime":"2022-01-04 11:25","market":"us","language":"en","title":"Is Apple Stock Likely To Reach $200 In 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=1179133564","media":"Seeking Alpha","summary":"SummaryApple stock received a lot of interest recently as it surged in early December and has mainta","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Apple stock received a lot of interest recently as it surged in early December and has maintained its market outperformance.</li><li>We discuss the critical drivers for investors to watch moving into 2022.</li><li>We also discuss whether Apple stock is likely to reach $200 moving forward.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e9d29c6db997dd98e087415e7e2acfe\" tg-width=\"1536\" tg-height=\"1036\" referrerpolicy=\"no-referrer\"/><span>Justin Sullivan/Getty Images News</span></p><p><b>Investment Thesis</b></p><p>Apple Inc. (AAPL) has recently drawn significant interest among investors as the stock has continued to outperform the market since early December. It's notable since AAPL stock has lagged the market for almost the whole year. However, investors' interests spiked following the series of successful new product launches, including its pivotal iPhone 13.</p><p>Supply chain checks from numerous sell-side analysts have also demonstrated that the delays over its iPhones have improved markedly. In addition, Goldman Sachs also highlighted that lead times were down significantly in mid-December as Apple continues to leverage strong iPhone demand in its most crucial calendar quarter.</p><p>AAPL stock continues to hold its price steadily, briefly topped a $3T market cap milestone. However, there shouldn't be any doubt that AAPL stock has had an unmistakable long-term uptrend over the years. Moreover, given that the company has multiple long-term secular drivers driving its business model, we are confident that the stock can reach $200 in 2022.</p><p>We discuss these critical drivers for AAPL stock as we head into 2022 with the $3T market cap looking over the horizon.</p><p><b>Services Revenue Growth Could Have Been Significantly Understated</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a837d0ef4f22be5610e00a0a6c3b6a5\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Apple revenue and adjusted EBITDA mean consensus estimates. Data source: S&P Capital IQ</span></p><p>Apple bears have often pointed out the deceleration in the company's topline growth as proof of a stock that is massively overvalued. It's easy to understand what they mean. Readers can refer to the chart above, where Apple's revenue growth is estimated to decelerate over the next three years. Consensus estimates point to a revenue CAGR of just 4.6% through FY24. Moreover, its adjusted EBITDA margins are likely to remain consistent. But, AAPL is not projected to gain leverage towards its profitability. Hence, bearish investors claim they don't understand how the Cupertino company can continue to justify its current valuation.</p><p>But, we think investors need to step back and consider the critical growth drivers for AAPL moving forward. So let us present our analysis.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3850a7b0d906064e94b474a4f50c3fd4\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Apple iPhone and services revenue estimates. Data source: Trefis, author</span></p><p>Readers can refer to the above model, where iPhone's revenue is estimated to increase at a CAGR of just 2.2% over the next five years. However, Apple's services segment (including App Store's revenue) is projected to increase its revenue at a CAGR of 11% through FY26, reaching $115B. We think these estimates are relatively conservative. Based on these estimates, a SOTP implied fair value of $159 was reached for AAPL stock. It also includes other segments but was mainly driven by the two critical segments above. iPhone and services accounted for 43% and 25% of its SOTP valuation.</p><p>But, we believe that these estimates may not have captured the multiple growth drivers underpinning the App Store. Why?</p><p>Based on recent estimates by Sensor Tower, App Store's revenue is estimated to increase at a CAGR of 20.7% through CY25, reaching $185B. Notably, it's way ahead of the estimate of $115B that we discussed earlier for the entire services segment. Importantly, we have not even included revenue from the other services other than App Store's contribution. Therefore, we think that readers need to consider that the Street consensus may have significantly underestimated the prowess of Apple's highly profitable (estimated operating margin > 70%) App Store.</p><p>We are not saying that Sensor Tower's estimate is the source of truth. But, we wanted to highlight that investors should pay more attention to Apple's key services segment. Sensor Tower presented a region by region breakdown, which we thought seemed credible, and we encourage investors to monitor closely.</p><p><b>Don't Ignore Apple's Metaverse Ambitions</b></p><p>Renowned TF International Securities analyst Ming-Chi Kuo estimated that Apple's AR/VR device would be released sometime in Q4'22. We believe this is significant as it augurs well for Apple's ambitions into the metaverse. There's little doubt that Meta Platforms (FB) and Microsoft(MSFT) are strengthening their lead in the consumer and commercial AR/VR space.According to TrendForce, global AR/VR device shipment is estimated to reach 12.02M units, up 26.4% YoY in 2022. Moreover, the market is estimated to grow rapidly through 2025, reaching 25.76M units at a CAGR of 38.8%. Notably, it expects Meta's Oculus devices to maintain a 66% consumer market share. But, TrendForce also noted that (edited):</p><blockquote>AR/VR device suppliers may look to expand their user base and increase their market penetration via low-priced yet high-spec devices,<i>while compensating for their reduced hardware profitability through software sales</i>. (TrendForce)</blockquote><p>Software sales indeed. Apple runs the largest mobile ecosystem globally, which dwarfs Google Play's (GOOG) (GOOGL) revenue. Therefore, we believe the entry of Apple into the metaverse game could significantly raise the company's monetization opportunities. Theories that Meta Platform has ambitions to displace Apple as the next-gen computing platform abound. However, we have also discussed thatMeta Platforms' eventual metaverse will unlikely be the only virtual world we will ever experience. Instead, the metaverse will likely be a series of interconnected virtual worlds that will be interoperable. So, Apple could still be the critical ecosystem owner as creators build their virtual worlds to be monetized through the App Store, reaching out to Apple's more than 1B (and growing) installed base.</p><p>TrendForce also added that global VR content revenue is estimated to grow at a rapid 40% CAGR through 2025, reaching $8.3B. The content will be varied but primarily consisting of "gaming/entertainment, videos, and social interactions." Therefore, Apple can continue to leverage such opportunities through its massive ecosystem. We think these opportunities are so novel that it hasn't even been written into Apple's consensus estimates just yet. But, once Apple's AR/VR devices are launched, we believe that the revenue runway could become even more apparent. However, we must still caution that we are still very early into Apple's metaverse ambitions. But, we believe that Apple will be a critical player in defining the metaverse through its ecosystem. It won't be very smart to consider that Apple doesn't have a clearly-defined metaverse strategy.</p><p><b>So, is AAPL Stock a Buy Now?</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6087fafa5c6ee0f2958f8d29919c3eb5\" tg-width=\"640\" tg-height=\"384\" referrerpolicy=\"no-referrer\"/><span>AAPL stock EV/NTM EBIT, and Normalized P/E (NTM) 3Y mean.</span></p><p>If you consider AAPL stock's relative valuation against its 3Y mean, there's little doubt that AAPL stock seems expensive. It's trading at an EV/NTM EBIT of 26x, way above its 3Y mean of 19.3x. In addition, its normalized P/E (NTM) also read 31.2x, significantly ahead of its 3Y mean of 23.9x. Therefore, we wouldn't blame bearish investors who think that AAPL stock seems well overvalued now.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2c889e6a8aa5fe9751c5d695481f9d3b\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Apple unlevered FCF estimates. Data source: S&P Capital IQ, author</span></p><p>However, we also estimated that AAPL stock would continue to generate robust FCF growth over time. Moreover, our model is even more conservative than the consensus estimates. In addition, we have also not considered Sensor Tower's estimates or Apple's metaverse opportunities that we discussed earlier. Nevertheless, it led us towards a DCF implied fair value estimate of $153, which we highlighted in our previous article. It's also quite close to our SOTP implied fair value of $159 that we showed earlier. Therefore, it's clear that these estimates have not factored for the robust services growth and the potential metaverse opportunities that could accrue to Apple over the next five to ten years.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de1380b774a68d31c93eaf939fb99e27\" tg-width=\"640\" tg-height=\"347\" referrerpolicy=\"no-referrer\"/><span>AAPL stock price action.</span></p><p>Nevertheless, we think that AAPL stock looks extended, as seen above. But, as mentioned, it wouldn't be very smart for investors to bet against CEO Tim Cook & Co. The stock's long-term uptrend is clear for all to observe.</p><p>So, we are clear that the stock would likely break the $200 level in 2022 as the excitement surrounding its AR/VR launch gets closers, coupled with its services segment revenue growth in its earnings releases. As a result, we believe that AAPL's stock price could be re-rated to reflect its potential over the next year.</p><p>Nevertheless, due to its over-extended price action, we encourage some patience with AAPL stock. But, if you have no AAPL stock, we think you can consider adding at this price if you are a long-term investor. We don't believe it's significantly overvalued, as discussed earlier. But, if you already have considerable exposure relative to your portfolio, we think you can wait for a potentially better entry point with some patience.</p><p>Therefore, we reiterate our Neutral rating on AAPL stock for now.</p><p>This article was written by JR Research.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Apple Stock Likely To Reach $200 In 2022?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Apple Stock Likely To Reach $200 In 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-04 11:25 GMT+8 <a href=https://seekingalpha.com/article/4477741-apple-stock-reach-200-in-2022><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryApple stock received a lot of interest recently as it surged in early December and has maintained its market outperformance.We discuss the critical drivers for investors to watch moving into ...</p>\n\n<a href=\"https://seekingalpha.com/article/4477741-apple-stock-reach-200-in-2022\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://seekingalpha.com/article/4477741-apple-stock-reach-200-in-2022","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179133564","content_text":"SummaryApple stock received a lot of interest recently as it surged in early December and has maintained its market outperformance.We discuss the critical drivers for investors to watch moving into 2022.We also discuss whether Apple stock is likely to reach $200 moving forward.Justin Sullivan/Getty Images NewsInvestment ThesisApple Inc. (AAPL) has recently drawn significant interest among investors as the stock has continued to outperform the market since early December. It's notable since AAPL stock has lagged the market for almost the whole year. However, investors' interests spiked following the series of successful new product launches, including its pivotal iPhone 13.Supply chain checks from numerous sell-side analysts have also demonstrated that the delays over its iPhones have improved markedly. In addition, Goldman Sachs also highlighted that lead times were down significantly in mid-December as Apple continues to leverage strong iPhone demand in its most crucial calendar quarter.AAPL stock continues to hold its price steadily, briefly topped a $3T market cap milestone. However, there shouldn't be any doubt that AAPL stock has had an unmistakable long-term uptrend over the years. Moreover, given that the company has multiple long-term secular drivers driving its business model, we are confident that the stock can reach $200 in 2022.We discuss these critical drivers for AAPL stock as we head into 2022 with the $3T market cap looking over the horizon.Services Revenue Growth Could Have Been Significantly UnderstatedApple revenue and adjusted EBITDA mean consensus estimates. Data source: S&P Capital IQApple bears have often pointed out the deceleration in the company's topline growth as proof of a stock that is massively overvalued. It's easy to understand what they mean. Readers can refer to the chart above, where Apple's revenue growth is estimated to decelerate over the next three years. Consensus estimates point to a revenue CAGR of just 4.6% through FY24. Moreover, its adjusted EBITDA margins are likely to remain consistent. But, AAPL is not projected to gain leverage towards its profitability. Hence, bearish investors claim they don't understand how the Cupertino company can continue to justify its current valuation.But, we think investors need to step back and consider the critical growth drivers for AAPL moving forward. So let us present our analysis.Apple iPhone and services revenue estimates. Data source: Trefis, authorReaders can refer to the above model, where iPhone's revenue is estimated to increase at a CAGR of just 2.2% over the next five years. However, Apple's services segment (including App Store's revenue) is projected to increase its revenue at a CAGR of 11% through FY26, reaching $115B. We think these estimates are relatively conservative. Based on these estimates, a SOTP implied fair value of $159 was reached for AAPL stock. It also includes other segments but was mainly driven by the two critical segments above. iPhone and services accounted for 43% and 25% of its SOTP valuation.But, we believe that these estimates may not have captured the multiple growth drivers underpinning the App Store. Why?Based on recent estimates by Sensor Tower, App Store's revenue is estimated to increase at a CAGR of 20.7% through CY25, reaching $185B. Notably, it's way ahead of the estimate of $115B that we discussed earlier for the entire services segment. Importantly, we have not even included revenue from the other services other than App Store's contribution. Therefore, we think that readers need to consider that the Street consensus may have significantly underestimated the prowess of Apple's highly profitable (estimated operating margin > 70%) App Store.We are not saying that Sensor Tower's estimate is the source of truth. But, we wanted to highlight that investors should pay more attention to Apple's key services segment. Sensor Tower presented a region by region breakdown, which we thought seemed credible, and we encourage investors to monitor closely.Don't Ignore Apple's Metaverse AmbitionsRenowned TF International Securities analyst Ming-Chi Kuo estimated that Apple's AR/VR device would be released sometime in Q4'22. We believe this is significant as it augurs well for Apple's ambitions into the metaverse. There's little doubt that Meta Platforms (FB) and Microsoft(MSFT) are strengthening their lead in the consumer and commercial AR/VR space.According to TrendForce, global AR/VR device shipment is estimated to reach 12.02M units, up 26.4% YoY in 2022. Moreover, the market is estimated to grow rapidly through 2025, reaching 25.76M units at a CAGR of 38.8%. Notably, it expects Meta's Oculus devices to maintain a 66% consumer market share. But, TrendForce also noted that (edited):AR/VR device suppliers may look to expand their user base and increase their market penetration via low-priced yet high-spec devices,while compensating for their reduced hardware profitability through software sales. (TrendForce)Software sales indeed. Apple runs the largest mobile ecosystem globally, which dwarfs Google Play's (GOOG) (GOOGL) revenue. Therefore, we believe the entry of Apple into the metaverse game could significantly raise the company's monetization opportunities. Theories that Meta Platform has ambitions to displace Apple as the next-gen computing platform abound. However, we have also discussed thatMeta Platforms' eventual metaverse will unlikely be the only virtual world we will ever experience. Instead, the metaverse will likely be a series of interconnected virtual worlds that will be interoperable. So, Apple could still be the critical ecosystem owner as creators build their virtual worlds to be monetized through the App Store, reaching out to Apple's more than 1B (and growing) installed base.TrendForce also added that global VR content revenue is estimated to grow at a rapid 40% CAGR through 2025, reaching $8.3B. The content will be varied but primarily consisting of \"gaming/entertainment, videos, and social interactions.\" Therefore, Apple can continue to leverage such opportunities through its massive ecosystem. We think these opportunities are so novel that it hasn't even been written into Apple's consensus estimates just yet. But, once Apple's AR/VR devices are launched, we believe that the revenue runway could become even more apparent. However, we must still caution that we are still very early into Apple's metaverse ambitions. But, we believe that Apple will be a critical player in defining the metaverse through its ecosystem. It won't be very smart to consider that Apple doesn't have a clearly-defined metaverse strategy.So, is AAPL Stock a Buy Now?AAPL stock EV/NTM EBIT, and Normalized P/E (NTM) 3Y mean.If you consider AAPL stock's relative valuation against its 3Y mean, there's little doubt that AAPL stock seems expensive. It's trading at an EV/NTM EBIT of 26x, way above its 3Y mean of 19.3x. In addition, its normalized P/E (NTM) also read 31.2x, significantly ahead of its 3Y mean of 23.9x. Therefore, we wouldn't blame bearish investors who think that AAPL stock seems well overvalued now.Apple unlevered FCF estimates. Data source: S&P Capital IQ, authorHowever, we also estimated that AAPL stock would continue to generate robust FCF growth over time. Moreover, our model is even more conservative than the consensus estimates. In addition, we have also not considered Sensor Tower's estimates or Apple's metaverse opportunities that we discussed earlier. Nevertheless, it led us towards a DCF implied fair value estimate of $153, which we highlighted in our previous article. It's also quite close to our SOTP implied fair value of $159 that we showed earlier. Therefore, it's clear that these estimates have not factored for the robust services growth and the potential metaverse opportunities that could accrue to Apple over the next five to ten years.AAPL stock price action.Nevertheless, we think that AAPL stock looks extended, as seen above. But, as mentioned, it wouldn't be very smart for investors to bet against CEO Tim Cook & Co. The stock's long-term uptrend is clear for all to observe.So, we are clear that the stock would likely break the $200 level in 2022 as the excitement surrounding its AR/VR launch gets closers, coupled with its services segment revenue growth in its earnings releases. As a result, we believe that AAPL's stock price could be re-rated to reflect its potential over the next year.Nevertheless, due to its over-extended price action, we encourage some patience with AAPL stock. But, if you have no AAPL stock, we think you can consider adding at this price if you are a long-term investor. We don't believe it's significantly overvalued, as discussed earlier. But, if you already have considerable exposure relative to your portfolio, we think you can wait for a potentially better entry point with some patience.Therefore, we reiterate our Neutral rating on AAPL stock for now.This article was written by JR Research.","news_type":1},"isVote":1,"tweetType":1,"viewCount":853,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":695297213,"gmtCreate":1641464456908,"gmtModify":1641464456908,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"The banks[smile] ","listText":"The banks[smile] ","text":"The banks[smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/695297213","repostId":"1115076063","repostType":4,"isVote":1,"tweetType":1,"viewCount":691,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692417856,"gmtCreate":1641169354679,"gmtModify":1641169354796,"author":{"id":"4101538323380760","authorId":"4101538323380760","name":"vttoh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4101538323380760","authorIdStr":"4101538323380760"},"themes":[],"htmlText":"👍 jia you.. Singapore...","listText":"👍 jia you.. Singapore...","text":"👍 jia you.. 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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\">\nEV Stocks Slid in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-29 22:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>EV stocks slid in morning trading.Rivian, Nio, Xpeng Motors,Li Auto, Nikola, Fisker, Lucid, Canoo, Workhorse and Lordstown fell between 1% and 4%.Tesla rose slightly.</p><p><img src=\"https://static.tigerbbs.com/9f1327915319e9e51b05fce071e34d4d\" tg-width=\"412\" tg-height=\"661\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WKHS":"Workhorse Group, Inc.","LI":"理想汽车","GOEV":"Canoo Inc.","NKLA":"Nikola Corporation","TSLA":"特斯拉","NIO":"蔚来","RIVN":"Rivian Automotive, Inc.","FSR":"菲斯克","XPEV":"小鹏汽车","LCID":"Lucid Group Inc"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155603486","content_text":"EV stocks slid in morning trading.Rivian, Nio, Xpeng Motors,Li Auto, Nikola, Fisker, Lucid, Canoo, Workhorse and Lordstown fell between 1% and 4%.Tesla rose slightly.","news_type":1},"isVote":1,"tweetType":1,"viewCount":769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}