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2021-09-23

$California Resources(CRC)$Anyone knows why in2020, their net income > revenue?

2021-08-30

Does TIGR has much exposure to ADR? If yes, thentheir earnings could be affected?

Sorry, the original content has been removed

2021-07-15

Is Tecent selling Douyu shares?

Sorry, the original content has been removed

2021-07-10

No difference to the business fundamentally as long as Tecent has a stake in it. It’s only administratively more efficient.

Sorry, the original content has been removed

2021-05-25

Well Done the #TIGR Team!

老虎证券一季度营收净利均创史上新高过半新增入金客户来自海外

2021-05-16

Free Cash -> Inflation.. No Free Cash -> Less Inflation -> Validate higher Stock Valuation.

U.S. Stocks Open Higher Friday After Retail Sales Fall Short

2021-05-14

Cybersecurity is critical especially in today environment.

A Big Opportunity In A Big Market

2021-04-18

Game on!

$544 Billion In Options Expire Today: Here's What Will Move

2021-04-09

Which to invest?

Next Week’s IPO Lineup Is Growing. It Could Be Busy.

2021-02-28

This mean BRK is under value ??

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2021-02-14

Good benchmark

Here's the formula for spotting genuinely undervalued companies, claims this investment house

2021-02-12

Interesting article ??

Here's the formula for spotting genuinely undervalued companies, claims this investment house

2021-02-10

Ironic!

INSIGHT-Elon Musk wants clean power. But Tesla's carrying bitcoin's dirty baggage

2021-02-09

The future is here.

5G吹的牛要成真了，骁龙X65让10Gbps时代来临

2021-02-08

Stay liquid for next opportunity?

Where Can Investors Hide as a Bubble Inflates?

2021-02-05

Compare energy consumption between physical mining vs digital mining?

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2021-02-04

Battery vs Fossil vs Hydrogen.. which is more sustainable?

What are the challenges facing Biden's electric vehicle program?

2021-02-04

Finally.. some catalyst..

Alibaba Rallies in Credit Market as Dollar Bond Deal Starts

2021-01-27

Far far away.

What Might The New ARK Space Exploration ETF Look Like?

Go to Tiger App to see more news

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href=\"https://laohu8.com/S/CRC\">$California Resources(CRC)$</a>Anyone knows why in2020, their&nbsp;net income &gt; revenue?","listText":"<a href=\"https://laohu8.com/S/CRC\">$California Resources(CRC)$</a>Anyone knows why in2020, their&nbsp;net income &gt; revenue?","text":"$California Resources(CRC)$Anyone knows why in2020, their net income > revenue?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/863299718","isVote":1,"tweetType":1,"viewCount":234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811512194,"gmtCreate":1630331855118,"gmtModify":1676530271976,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Does TIGR has much exposure to ADR? If yes, thentheir earnings could be affected?","listText":"Does TIGR has much exposure to ADR? If yes, thentheir earnings could be affected?","text":"Does TIGR has much exposure to ADR? If yes, thentheir earnings could be affected?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/811512194","repostId":"1157282403","repostType":2,"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147211985,"gmtCreate":1626359109147,"gmtModify":1703758663167,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Is Tecent selling Douyu shares?","listText":"Is Tecent selling Douyu shares?","text":"Is Tecent selling Douyu shares?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/147211985","repostId":"2151231325","repostType":2,"isVote":1,"tweetType":1,"viewCount":1529,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3567862348002462","authorId":"3567862348002462","name":"爱在喜欢前","avatar":"https://static.tigerbbs.com/9d02180e32673d7658188041d0d2be42","crmLevel":8,"crmLevelSwitch":0,"authorIdStr":"3567862348002462","idStr":"3567862348002462"},"content":"You will see the announcement if the largest shareholder reduces its holdings","text":"You will see the announcement if the largest shareholder reduces its holdings","html":"You will see the announcement if the largest shareholder reduces its holdings"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148999654,"gmtCreate":1625909982578,"gmtModify":1703750821954,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"No difference to the business fundamentally as long as Tecent has a stake in it. It’s only administratively more efficient.","listText":"No difference to the business fundamentally as long as Tecent has a stake in it. It’s only administratively more efficient.","text":"No difference to the business fundamentally as long as Tecent has a stake in it. It’s only administratively more efficient.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148999654","repostId":"2150414309","repostType":2,"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138613624,"gmtCreate":1621933389468,"gmtModify":1704364680143,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Well Done the #TIGR Team!","listText":"Well Done the #TIGR Team!","text":"Well Done the #TIGR Team!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138613624","repostId":"1180636694","repostType":2,"repost":{"id":"1180636694","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621929756,"share":"https://ttm.financial/m/news/1180636694?lang=&edition=fundamental","pubTime":"2021-05-25 16:02","market":"us","language":"zh","title":"老虎证券一季度营收净利均创史上新高 过半新增入金客户来自海外","url":"https://stock-news.laohu8.com/highlight/detail?id=1180636694","media":"老虎资讯综合","summary":"美东时间5月25日盘前，老虎证券公布了截至2021年3月31日的第一季度未经审计财报。财报显示，老虎证券第一季度总营收为8128万美元，同比增长255.5%；Non-GAAP净利润同比大增21倍达23","content":"<p>美东时间5月25日盘前，<a href=\"https://laohu8.com/S/TIGR\">老虎证券</a>公布了截至2021年3月31日的第一季度未经审计财报。财报显示，老虎证券第一季度总营收为8128万美元，同比增长255.5%；Non-GAAP净利润同比大增21倍达2349万美元，已超去年全年。</p><p>截至一季度末，老虎证券开户客户数达140万，季度新增29.6万，为去年同期逾3倍。入金客户数达37.6万，季度新增11.7万，为去年同期的近6倍，再创季度净增新高。值得注意的是，公司正式开启国际化战略仅一年，海外客户即已占到本季新增入金客户的50%以上。与此同时，客户资产增速刷新历史记录增至214.1亿美元，季度内净增54.6亿美元，为去年同期的12倍多。交易规模达1238亿美元，是去年同期近3倍。</p><p>老虎证券创始人及CEO巫天华表示：“一季度全球个人投资者崛起，移动互联网时代信息流通更快，个人投资者线上交易需求与日俱增。在此大背景下，公司不断迭代技术，凭借良好的一站式全球交易体验维持强劲增长势头，单季新增客户数、客户资产和交易规模均达到上市以来最高水平。公司国际化战略取得重要进展，本季度有超过一半新增入金客户来自海外。展望未来，在深耕新加坡外，我们将陆续提升美国、澳大利亚等国家及地区的产品和服务。随着公司国际化展业版图持续扩大，我们相信海外市场将成为公司业绩持续高速增长的核心驱动力。”</p><p><b>一季度净利润超去年全年 新增客户资产为去年12倍多</b></p><p>一季度，受益于全球投资者对于科技股等标的关注度提升，市场交投情绪活跃。财报显示，老虎证券经纪业务增长强劲。期内佣金及利息相关收入7077万美元，同比增长246.5%。交易规模达1238亿美元，同比增长180.7%。</p><p>美港股打新持续火热。一季度，公司推出11个美股打新项目，参与人数较去年同期大增36倍，较去年四季度再度翻倍。项目数量之外，老虎证券在新股额度及分配体验上也持续领跑行业。在知乎、涂鸦智能等大热项目中，老虎证券获配份额位列互联网券商第一，在RLX科技、天演药业等多个项目中老虎证券实现申购用户100%中签，“美股打新之王”地位进一步夯实。港股侧，老虎证券对医渡云、快手、诺辉健康、百度、哔哩哔哩等热门标的提供了最高20倍杠杆打新，参与人数同比增长高达847.1%，申购金额是去年同期的11倍。</p><p>凭借丰富的全球可交易品种和卓越的用户体验，一季度老虎证券开户客户新增29.6万达到140万，为历史最快增速；季度内入金客户净增11.7万达到37.6万，已完成年度指引即35万新增入金客户的三分之一。客户资产达214.1亿美元，季度内净增为去年同期的12倍多。</p><p>本季度，老虎证券实现营收8128万美元，是去年同期的3.6倍，创单季新高；Non-GAAP全年净利润2349万美元，是去年同期的22倍，且已超过去年全年净利润总额。</p><p><b>过半新增入金客户来自海外 新加坡Q1新增客户超去年总和</b></p><p>2020年是老虎证券国际化的元年，公司完成从0到1海外布局。本季度，老虎证券海外入金客户已占到新增入金客户数的50%以上，国际化战略在布局短短一年内即取得重要突破。</p><p>作为公司国际化战略的“桥头堡”，新加坡市场持续表现出色。前三月新加坡新增开户、入金客户数较去年Q4分别增长257.9%、300.8%，数量均超过2020年全年总和。同时，交易规模和交易笔数环比增长248.0%和343.4%，当地客户交易活跃度显著提升。</p><p>期内，公司在当地上线基金超市、港股期权、美股OTC市场、每日杠杆证书(DLCs)，成为新加坡当地覆盖市场最广、交易品种最多的互联网券商。其资讯、行情、交易、社交集于一体的产品体验，有效解决了当地投资者需切换不同平台、操作繁琐的痛点，深受当地年轻投资者欢迎和认可。此外，公司持续加大对交易基础设施的投入，以应对当地用户量快速增长后高并发的数据访问需求，响应速度领先业内。</p><p><b>首个担任主承销商的互联网投行165家ESOP客户保持迅猛增长</b></p><p>一季度，以投行、ESOP(员工股权激励计划)等企业服务为主的其他收入达1051万美元，同比增长330.5%。</p><p>投行一侧，本季度老虎证券参与14宗美港股IPO。具体来看，公司参与9宗中概美股IPO发行，其中知乎、涂鸦智能、容联云等5宗为承销项目，再次位列美股中概股承销数量榜首。截至目前，老虎证券已作为分销或承销商参与超百家美港股IPO。值得注意的是，一季度老虎证券（美国）以牵头行的身份与德银共同助力库客音乐赴美IPO，是首个担任该角色的互联网科技投行。港股侧，老虎证券（美国）同样作为国际配售承销商参与哔哩哔哩、汽车之家、稻草熊3家港股IPO，继续发力投行国际化。</p><p>ESOP业务（员工股权激励计划）方面，老虎证券本季度新增41家企业客户，累计服务客户数量增至165家，增速持续领先。期内，公司自研ESOP系统持续迭代性能，备受企业客户认可。比如，SBC(Share-based compensation)财务模块所支持的IFRS和US GAAP两套会计准则计算已可全方位满足不同客户的复杂需求，帮助企业降本增效。</p><p>此外，凭借产品和技术的先进性与突破性，老虎证券ESOP获得由北京市科委公示的2020年第二批（总第十三批）北京市新技术新产品（服务）认定证书。同期，其还获得国际权威认证机构DNV颁发的ISO27701:2019 隐私信息管理体系和ISO29151:2017个人身份信息保护认证，用户隐私保护能力达到国际先进水平。</p><p>企业服务侧，老虎企业号已成为众多美港股公司进行投资者关系沟通的重要平台。截至一季度末，新增包括纳斯达克、欧洲期货交易所、中通快递、逸仙电商等35家优质明星企业入驻老虎企业号。</p><p>此外，老虎企业号推出一站式财报推广服务，包括财报预告、业绩会直播曝光、财报亮点传播等。本季度，其已助力近百家企业进行财报季传播，其中与百度、特斯拉、小米、理想汽车等38家美港股上市公司深度合作，相关直播观看量屡破十万，活动曝光量近百万。</p><p><b>自清算30%以上客户的美股订单 更快响应客户本地化需求</b></p><p>作为华人券商中率先迈入美股自清算时代的科技券商，老虎证券在三个季度内实现30%以上的客户由旗下Marsco自清算美股交易，展现出强大的中后台金融技术壁垒。</p><p>目前，老虎证券在包括簿记、交收、合规、风控等美股自清算全流程积累了丰富经验，业务自主性和灵活性更高。一季度部分券商对GME、AMC、KOSS等波动剧烈的标的作出临时交易限制，老虎证券则通过自清算尽可能满足客户交易需求。</p><p>巫天华表示，自清算可让老虎证券针对不同国际市场的投资者提供更个性化的交易服务，支持更多交易品种，进一步提高本地化运营效率。</p><p>截至目前，老虎证券在美国、新加坡、澳大利亚、新西兰等全球主流金融市场总计持有33张牌照和资质，有助于加速国际化扩张。</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>老虎证券一季度营收净利均创史上新高 过半新增入金客户来自海外 </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\">\n老虎证券一季度营收净利均创史上新高 过半新增入金客户来自海外 \n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-05-25 16:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>美东时间5月25日盘前，<a href=\"https://laohu8.com/S/TIGR\">老虎证券</a>公布了截至2021年3月31日的第一季度未经审计财报。财报显示，老虎证券第一季度总营收为8128万美元，同比增长255.5%；Non-GAAP净利润同比大增21倍达2349万美元，已超去年全年。</p><p>截至一季度末，老虎证券开户客户数达140万，季度新增29.6万，为去年同期逾3倍。入金客户数达37.6万，季度新增11.7万，为去年同期的近6倍，再创季度净增新高。值得注意的是，公司正式开启国际化战略仅一年，海外客户即已占到本季新增入金客户的50%以上。与此同时，客户资产增速刷新历史记录增至214.1亿美元，季度内净增54.6亿美元，为去年同期的12倍多。交易规模达1238亿美元，是去年同期近3倍。</p><p>老虎证券创始人及CEO巫天华表示：“一季度全球个人投资者崛起，移动互联网时代信息流通更快，个人投资者线上交易需求与日俱增。在此大背景下，公司不断迭代技术，凭借良好的一站式全球交易体验维持强劲增长势头，单季新增客户数、客户资产和交易规模均达到上市以来最高水平。公司国际化战略取得重要进展，本季度有超过一半新增入金客户来自海外。展望未来，在深耕新加坡外，我们将陆续提升美国、澳大利亚等国家及地区的产品和服务。随着公司国际化展业版图持续扩大，我们相信海外市场将成为公司业绩持续高速增长的核心驱动力。”</p><p><b>一季度净利润超去年全年 新增客户资产为去年12倍多</b></p><p>一季度，受益于全球投资者对于科技股等标的关注度提升，市场交投情绪活跃。财报显示，老虎证券经纪业务增长强劲。期内佣金及利息相关收入7077万美元，同比增长246.5%。交易规模达1238亿美元，同比增长180.7%。</p><p>美港股打新持续火热。一季度，公司推出11个美股打新项目，参与人数较去年同期大增36倍，较去年四季度再度翻倍。项目数量之外，老虎证券在新股额度及分配体验上也持续领跑行业。在知乎、涂鸦智能等大热项目中，老虎证券获配份额位列互联网券商第一，在RLX科技、天演药业等多个项目中老虎证券实现申购用户100%中签，“美股打新之王”地位进一步夯实。港股侧，老虎证券对医渡云、快手、诺辉健康、百度、哔哩哔哩等热门标的提供了最高20倍杠杆打新，参与人数同比增长高达847.1%，申购金额是去年同期的11倍。</p><p>凭借丰富的全球可交易品种和卓越的用户体验，一季度老虎证券开户客户新增29.6万达到140万，为历史最快增速；季度内入金客户净增11.7万达到37.6万，已完成年度指引即35万新增入金客户的三分之一。客户资产达214.1亿美元，季度内净增为去年同期的12倍多。</p><p>本季度，老虎证券实现营收8128万美元，是去年同期的3.6倍，创单季新高；Non-GAAP全年净利润2349万美元，是去年同期的22倍，且已超过去年全年净利润总额。</p><p><b>过半新增入金客户来自海外 新加坡Q1新增客户超去年总和</b></p><p>2020年是老虎证券国际化的元年，公司完成从0到1海外布局。本季度，老虎证券海外入金客户已占到新增入金客户数的50%以上，国际化战略在布局短短一年内即取得重要突破。</p><p>作为公司国际化战略的“桥头堡”，新加坡市场持续表现出色。前三月新加坡新增开户、入金客户数较去年Q4分别增长257.9%、300.8%，数量均超过2020年全年总和。同时，交易规模和交易笔数环比增长248.0%和343.4%，当地客户交易活跃度显著提升。</p><p>期内，公司在当地上线基金超市、港股期权、美股OTC市场、每日杠杆证书(DLCs)，成为新加坡当地覆盖市场最广、交易品种最多的互联网券商。其资讯、行情、交易、社交集于一体的产品体验，有效解决了当地投资者需切换不同平台、操作繁琐的痛点，深受当地年轻投资者欢迎和认可。此外，公司持续加大对交易基础设施的投入，以应对当地用户量快速增长后高并发的数据访问需求，响应速度领先业内。</p><p><b>首个担任主承销商的互联网投行165家ESOP客户保持迅猛增长</b></p><p>一季度，以投行、ESOP(员工股权激励计划)等企业服务为主的其他收入达1051万美元，同比增长330.5%。</p><p>投行一侧，本季度老虎证券参与14宗美港股IPO。具体来看，公司参与9宗中概美股IPO发行，其中知乎、涂鸦智能、容联云等5宗为承销项目，再次位列美股中概股承销数量榜首。截至目前，老虎证券已作为分销或承销商参与超百家美港股IPO。值得注意的是，一季度老虎证券（美国）以牵头行的身份与德银共同助力库客音乐赴美IPO，是首个担任该角色的互联网科技投行。港股侧，老虎证券（美国）同样作为国际配售承销商参与哔哩哔哩、汽车之家、稻草熊3家港股IPO，继续发力投行国际化。</p><p>ESOP业务（员工股权激励计划）方面，老虎证券本季度新增41家企业客户，累计服务客户数量增至165家，增速持续领先。期内，公司自研ESOP系统持续迭代性能，备受企业客户认可。比如，SBC(Share-based compensation)财务模块所支持的IFRS和US GAAP两套会计准则计算已可全方位满足不同客户的复杂需求，帮助企业降本增效。</p><p>此外，凭借产品和技术的先进性与突破性，老虎证券ESOP获得由北京市科委公示的2020年第二批（总第十三批）北京市新技术新产品（服务）认定证书。同期，其还获得国际权威认证机构DNV颁发的ISO27701:2019 隐私信息管理体系和ISO29151:2017个人身份信息保护认证，用户隐私保护能力达到国际先进水平。</p><p>企业服务侧，老虎企业号已成为众多美港股公司进行投资者关系沟通的重要平台。截至一季度末，新增包括纳斯达克、欧洲期货交易所、中通快递、逸仙电商等35家优质明星企业入驻老虎企业号。</p><p>此外，老虎企业号推出一站式财报推广服务，包括财报预告、业绩会直播曝光、财报亮点传播等。本季度，其已助力近百家企业进行财报季传播，其中与百度、特斯拉、小米、理想汽车等38家美港股上市公司深度合作，相关直播观看量屡破十万，活动曝光量近百万。</p><p><b>自清算30%以上客户的美股订单 更快响应客户本地化需求</b></p><p>作为华人券商中率先迈入美股自清算时代的科技券商，老虎证券在三个季度内实现30%以上的客户由旗下Marsco自清算美股交易，展现出强大的中后台金融技术壁垒。</p><p>目前，老虎证券在包括簿记、交收、合规、风控等美股自清算全流程积累了丰富经验，业务自主性和灵活性更高。一季度部分券商对GME、AMC、KOSS等波动剧烈的标的作出临时交易限制，老虎证券则通过自清算尽可能满足客户交易需求。</p><p>巫天华表示，自清算可让老虎证券针对不同国际市场的投资者提供更个性化的交易服务，支持更多交易品种，进一步提高本地化运营效率。</p><p>截至目前，老虎证券在美国、新加坡、澳大利亚、新西兰等全球主流金融市场总计持有33张牌照和资质，有助于加速国际化扩张。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ede228345a888e45db951c65291e329c","relate_stocks":{},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180636694","content_text":"美东时间5月25日盘前，老虎证券公布了截至2021年3月31日的第一季度未经审计财报。财报显示，老虎证券第一季度总营收为8128万美元，同比增长255.5%；Non-GAAP净利润同比大增21倍达2349万美元，已超去年全年。截至一季度末，老虎证券开户客户数达140万，季度新增29.6万，为去年同期逾3倍。入金客户数达37.6万，季度新增11.7万，为去年同期的近6倍，再创季度净增新高。值得注意的是，公司正式开启国际化战略仅一年，海外客户即已占到本季新增入金客户的50%以上。与此同时，客户资产增速刷新历史记录增至214.1亿美元，季度内净增54.6亿美元，为去年同期的12倍多。交易规模达1238亿美元，是去年同期近3倍。老虎证券创始人及CEO巫天华表示：“一季度全球个人投资者崛起，移动互联网时代信息流通更快，个人投资者线上交易需求与日俱增。在此大背景下，公司不断迭代技术，凭借良好的一站式全球交易体验维持强劲增长势头，单季新增客户数、客户资产和交易规模均达到上市以来最高水平。公司国际化战略取得重要进展，本季度有超过一半新增入金客户来自海外。展望未来，在深耕新加坡外，我们将陆续提升美国、澳大利亚等国家及地区的产品和服务。随着公司国际化展业版图持续扩大，我们相信海外市场将成为公司业绩持续高速增长的核心驱动力。”一季度净利润超去年全年 新增客户资产为去年12倍多一季度，受益于全球投资者对于科技股等标的关注度提升，市场交投情绪活跃。财报显示，老虎证券经纪业务增长强劲。期内佣金及利息相关收入7077万美元，同比增长246.5%。交易规模达1238亿美元，同比增长180.7%。美港股打新持续火热。一季度，公司推出11个美股打新项目，参与人数较去年同期大增36倍，较去年四季度再度翻倍。项目数量之外，老虎证券在新股额度及分配体验上也持续领跑行业。在知乎、涂鸦智能等大热项目中，老虎证券获配份额位列互联网券商第一，在RLX科技、天演药业等多个项目中老虎证券实现申购用户100%中签，“美股打新之王”地位进一步夯实。港股侧，老虎证券对医渡云、快手、诺辉健康、百度、哔哩哔哩等热门标的提供了最高20倍杠杆打新，参与人数同比增长高达847.1%，申购金额是去年同期的11倍。凭借丰富的全球可交易品种和卓越的用户体验，一季度老虎证券开户客户新增29.6万达到140万，为历史最快增速；季度内入金客户净增11.7万达到37.6万，已完成年度指引即35万新增入金客户的三分之一。客户资产达214.1亿美元，季度内净增为去年同期的12倍多。本季度，老虎证券实现营收8128万美元，是去年同期的3.6倍，创单季新高；Non-GAAP全年净利润2349万美元，是去年同期的22倍，且已超过去年全年净利润总额。过半新增入金客户来自海外 新加坡Q1新增客户超去年总和2020年是老虎证券国际化的元年，公司完成从0到1海外布局。本季度，老虎证券海外入金客户已占到新增入金客户数的50%以上，国际化战略在布局短短一年内即取得重要突破。作为公司国际化战略的“桥头堡”，新加坡市场持续表现出色。前三月新加坡新增开户、入金客户数较去年Q4分别增长257.9%、300.8%，数量均超过2020年全年总和。同时，交易规模和交易笔数环比增长248.0%和343.4%，当地客户交易活跃度显著提升。期内，公司在当地上线基金超市、港股期权、美股OTC市场、每日杠杆证书(DLCs)，成为新加坡当地覆盖市场最广、交易品种最多的互联网券商。其资讯、行情、交易、社交集于一体的产品体验，有效解决了当地投资者需切换不同平台、操作繁琐的痛点，深受当地年轻投资者欢迎和认可。此外，公司持续加大对交易基础设施的投入，以应对当地用户量快速增长后高并发的数据访问需求，响应速度领先业内。首个担任主承销商的互联网投行165家ESOP客户保持迅猛增长一季度，以投行、ESOP(员工股权激励计划)等企业服务为主的其他收入达1051万美元，同比增长330.5%。投行一侧，本季度老虎证券参与14宗美港股IPO。具体来看，公司参与9宗中概美股IPO发行，其中知乎、涂鸦智能、容联云等5宗为承销项目，再次位列美股中概股承销数量榜首。截至目前，老虎证券已作为分销或承销商参与超百家美港股IPO。值得注意的是，一季度老虎证券（美国）以牵头行的身份与德银共同助力库客音乐赴美IPO，是首个担任该角色的互联网科技投行。港股侧，老虎证券（美国）同样作为国际配售承销商参与哔哩哔哩、汽车之家、稻草熊3家港股IPO，继续发力投行国际化。ESOP业务（员工股权激励计划）方面，老虎证券本季度新增41家企业客户，累计服务客户数量增至165家，增速持续领先。期内，公司自研ESOP系统持续迭代性能，备受企业客户认可。比如，SBC(Share-based compensation)财务模块所支持的IFRS和US GAAP两套会计准则计算已可全方位满足不同客户的复杂需求，帮助企业降本增效。此外，凭借产品和技术的先进性与突破性，老虎证券ESOP获得由北京市科委公示的2020年第二批（总第十三批）北京市新技术新产品（服务）认定证书。同期，其还获得国际权威认证机构DNV颁发的ISO27701:2019 隐私信息管理体系和ISO29151:2017个人身份信息保护认证，用户隐私保护能力达到国际先进水平。企业服务侧，老虎企业号已成为众多美港股公司进行投资者关系沟通的重要平台。截至一季度末，新增包括纳斯达克、欧洲期货交易所、中通快递、逸仙电商等35家优质明星企业入驻老虎企业号。此外，老虎企业号推出一站式财报推广服务，包括财报预告、业绩会直播曝光、财报亮点传播等。本季度，其已助力近百家企业进行财报季传播，其中与百度、特斯拉、小米、理想汽车等38家美港股上市公司深度合作，相关直播观看量屡破十万，活动曝光量近百万。自清算30%以上客户的美股订单 更快响应客户本地化需求作为华人券商中率先迈入美股自清算时代的科技券商，老虎证券在三个季度内实现30%以上的客户由旗下Marsco自清算美股交易，展现出强大的中后台金融技术壁垒。目前，老虎证券在包括簿记、交收、合规、风控等美股自清算全流程积累了丰富经验，业务自主性和灵活性更高。一季度部分券商对GME、AMC、KOSS等波动剧烈的标的作出临时交易限制，老虎证券则通过自清算尽可能满足客户交易需求。巫天华表示，自清算可让老虎证券针对不同国际市场的投资者提供更个性化的交易服务，支持更多交易品种，进一步提高本地化运营效率。截至目前，老虎证券在美国、新加坡、澳大利亚、新西兰等全球主流金融市场总计持有33张牌照和资质，有助于加速国际化扩张。","news_type":1},"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192174421,"gmtCreate":1621170881563,"gmtModify":1704353583995,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Free Cash -&gt; Inflation.. No Free Cash -&gt; Less Inflation -&gt;&nbsp;Validate higher Stock Valuation.","listText":"Free Cash -&gt; Inflation.. No Free Cash -&gt; Less Inflation -&gt;&nbsp;Validate higher Stock Valuation.","text":"Free Cash -> Inflation.. No Free Cash -> Less Inflation -> Validate higher Stock Valuation.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/192174421","repostId":"1112087830","repostType":4,"repost":{"id":"1112087830","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620999082,"share":"https://ttm.financial/m/news/1112087830?lang=&edition=fundamental","pubTime":"2021-05-14 21:31","market":"us","language":"en","title":"U.S. Stocks Open Higher Friday After Retail Sales Fall Short","url":"https://stock-news.laohu8.com/highlight/detail?id=1112087830","media":"Tiger Newspress","summary":"(May 14) U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big ","content":"<p>(May 14)&nbsp;U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big losses.</p><p>The Dow Jones Industrial Average climbed 220 points. The S&amp;P 500 gained 0.8%. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 1%.</p><p>Stocks advanced even after data showed consumer purchases&nbsp;slowed down last month. Advance retail sales was flat for the April, the Commerce Department reported Thursday. That compared to the Dow Jones estimate of a 0.8% gain and a 9.8% surge in March.</p><p>The major averages still are on track for hefty losses for the week as inflation fears hit sentiment. The Dow is down 2.2% for the week, while the S&amp;P has shed 2.8%. Tech stocks have been hit especially hard, pulling the Nasdaq down 4.6% for the week.</p><p>Tech stocks were the biggest outperformers Friday. Tesla gained 2.5%. Twitter was up 2.2%. Facebook, Apple, Amazon, Netflix and Alphabet were all trading in the green.</p><p>Disney shares were bucking the trend, falling about 3%after postingweaker-than-expected revenue and streaming subscribers.</p><p>The Centers for Disease Control and Preventioneased guidelines on Thursday, saying that in most settings fully vaccinated people don't need to wear masks indoors or outdoors.</p><p>Stocks most exposed to the ongoing recovery rebounded Thursday on the heels of the announcement, with theNYSE Arca Airline Indexfinishing the day nearly 2% higher.</p><p>United Airlines and American Airlines were higher again in premarket trading Friday, along with Boeing.</p><p>\"Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates,\" Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. \"But while we expect inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an opportunity to build exposure to structural winners.\"</p><p>The market's volatility this week comes as economic data points to inflation. The Consumer Price Indexjumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.</p><p>Still, earnings season has been stronger-than-expected and some believe this bull market has more room to run and investors should take advantage of any dips.</p><p>\"The corporate turnaround is strong enough to keep markets rising, even as bond yields increase in anticipation of central bank tightening,\" Robert Buckland, equity strategist at Citi, said in a note. \"So buy any short term dips, as we may be seeing now. There is a time to turn more cautious but that may be next year, not this.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title> U.S. Stocks Open Higher Friday After Retail Sales Fall Short</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\">\n U.S. Stocks Open Higher Friday After Retail Sales Fall Short\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\">2021-05-14 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(May 14)&nbsp;U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big losses.</p><p>The Dow Jones Industrial Average climbed 220 points. The S&amp;P 500 gained 0.8%. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 1%.</p><p>Stocks advanced even after data showed consumer purchases&nbsp;slowed down last month. Advance retail sales was flat for the April, the Commerce Department reported Thursday. That compared to the Dow Jones estimate of a 0.8% gain and a 9.8% surge in March.</p><p>The major averages still are on track for hefty losses for the week as inflation fears hit sentiment. The Dow is down 2.2% for the week, while the S&amp;P has shed 2.8%. Tech stocks have been hit especially hard, pulling the Nasdaq down 4.6% for the week.</p><p>Tech stocks were the biggest outperformers Friday. Tesla gained 2.5%. Twitter was up 2.2%. Facebook, Apple, Amazon, Netflix and Alphabet were all trading in the green.</p><p>Disney shares were bucking the trend, falling about 3%after postingweaker-than-expected revenue and streaming subscribers.</p><p>The Centers for Disease Control and Preventioneased guidelines on Thursday, saying that in most settings fully vaccinated people don't need to wear masks indoors or outdoors.</p><p>Stocks most exposed to the ongoing recovery rebounded Thursday on the heels of the announcement, with theNYSE Arca Airline Indexfinishing the day nearly 2% higher.</p><p>United Airlines and American Airlines were higher again in premarket trading Friday, along with Boeing.</p><p>\"Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates,\" Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. \"But while we expect inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an opportunity to build exposure to structural winners.\"</p><p>The market's volatility this week comes as economic data points to inflation. The Consumer Price Indexjumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.</p><p>Still, earnings season has been stronger-than-expected and some believe this bull market has more room to run and investors should take advantage of any dips.</p><p>\"The corporate turnaround is strong enough to keep markets rising, even as bond yields increase in anticipation of central bank tightening,\" Robert Buckland, equity strategist at Citi, said in a note. \"So buy any short term dips, as we may be seeing now. There is a time to turn more cautious but that may be next year, not this.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112087830","content_text":"(May 14) U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big losses.The Dow Jones Industrial Average climbed 220 points. The S&P 500 gained 0.8%. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 1%.Stocks advanced even after data showed consumer purchases slowed down last month. Advance retail sales was flat for the April, the Commerce Department reported Thursday. That compared to the Dow Jones estimate of a 0.8% gain and a 9.8% surge in March.The major averages still are on track for hefty losses for the week as inflation fears hit sentiment. The Dow is down 2.2% for the week, while the S&P has shed 2.8%. Tech stocks have been hit especially hard, pulling the Nasdaq down 4.6% for the week.Tech stocks were the biggest outperformers Friday. Tesla gained 2.5%. Twitter was up 2.2%. Facebook, Apple, Amazon, Netflix and Alphabet were all trading in the green.Disney shares were bucking the trend, falling about 3%after postingweaker-than-expected revenue and streaming subscribers.The Centers for Disease Control and Preventioneased guidelines on Thursday, saying that in most settings fully vaccinated people don't need to wear masks indoors or outdoors.Stocks most exposed to the ongoing recovery rebounded Thursday on the heels of the announcement, with theNYSE Arca Airline Indexfinishing the day nearly 2% higher.United Airlines and American Airlines were higher again in premarket trading Friday, along with Boeing.\"Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates,\" Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. \"But while we expect inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an opportunity to build exposure to structural winners.\"The market's volatility this week comes as economic data points to inflation. The Consumer Price Indexjumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.Still, earnings season has been stronger-than-expected and some believe this bull market has more room to run and investors should take advantage of any dips.\"The corporate turnaround is strong enough to keep markets rising, even as bond yields increase in anticipation of central bank tightening,\" Robert Buckland, equity strategist at Citi, said in a note. \"So buy any short term dips, as we may be seeing now. There is a time to turn more cautious but that may be next year, not this.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198742044,"gmtCreate":1620995509188,"gmtModify":1704351678145,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Cybersecurity is critical especially in today environment.","listText":"Cybersecurity is critical especially in today environment.","text":"Cybersecurity is critical especially in today environment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/198742044","repostId":"1129126046","repostType":2,"repost":{"id":"1129126046","kind":"news","pubTimestamp":1620964164,"share":"https://ttm.financial/m/news/1129126046?lang=&edition=fundamental","pubTime":"2021-05-14 11:49","market":"us","language":"en","title":"A Big Opportunity In A Big Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1129126046","media":"seekingalpha","summary":"SummaryThe global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be","content":"<p><b>Summary</b></p><ul><li>The global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be valued at $366.10 billion in 2028 at a CAGR of 12%.</li><li>Throughout 2020, malware and ransomware attacks increased by more than a third (e.g., Colonial Pipeline is the latest example of a ransomware attack).</li><li>The estimated intrinsic value for the company is $37.15 (19% potential upside), while the pricing value is $52.8 (70% potential upside).</li></ul><p>Editor's note: Seeking Alpha is proud to welcome Deniel Selivanov as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium.</p><p><b>Overview</b></p><p>Telos (TLS) is a cybersecurity play, which has exposure on both sides of the market, government and commercial. With the last two big cyberattacks which involved U.S. companies, namely the SolarWinds attack and Colonial Pipeline attack, we can clearly see how cybersecurity will be one of the future big trends that, if taken at the right time, offers big opportunity with big gains.</p><p>Telos stock has rallied 42.67% since the IPO in 2020, outperforming the 15.3% rise in the S&amp;P 500 over the same time period.</p><p>I believe that the 25% correction in Telos stock from its 52-Week high offers a good opportunity to take a position in this cybersecurity company.</p><p><b>Long Term: Sector Outlook Overview</b></p><p>The pandemic made the digitalization process accelerate at a very fast pace and, if from one side the digitalization process brings a lot of benefits, it also brings big risks with it, namely the cyber-risk. In 2020 many companies were \"forced\" to become more digital and for time-constraints reasons everything was done without taking into account possible mistakes along the road. These mistakes, however, didn't pass unnoticed.</p><p>The cyber-attacks in 2020 increased at the same pace as the digitalization transformation, especially malware and ransomware type of attacks. But why should we worry about cyber risk? A cyber-attack could lead to business interruption events: for instance, the last one involved the Colonial Pipeline, which represent not only a monetary cost for the company (whichincreased by 72%in the last 5 years) but also a reputational one.</p><p>Thelatest reportpublished by Allianz (the Allianz Risk Barometer report 2021) has found that the most important global and business risks for 2021 are: business interruption (top 1), pandemic outbreak (top 2), and cyber incidents (top 3). If we consider the business interruption as a consequence of a cyber-attack, we can clearly visualize how the cyber threat is the most important risk for businesses, not only in 2021 but especially in the years to come.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a6e3117e4d5051a7e658c17f734e107e\" tg-width=\"640\" tg-height=\"586\" referrerpolicy=\"no-referrer\"><span>Source:Agcs.allianz.com</span></p><p>Among different kinds of cyber-attacks, malware and ransomware are those which are spreading faster than others. Throughout 2020, malware and ransomware attacks increased by more than a third, (e.g., Colonial Pipeline is an example of ransomware attack). Once hit by such attacks, companies tend to pay what a ransom attacker demand; however, this is only the direct cost associated with the attack and we should not forget about all the indirect costs associated with it, which are much bigger.</p><p>Emsisoft, a company specialized in anti-malware solutions, estimated that in 2020 the ransom demand (i.e. the direct cost) representedonly 6%of the total cost in which companies incurred to deal with the cyber-attack. Finally, we must take into account that companies' willingness to pay attackers increases the number and the complexity of cyber-attacks.</p><p>In thelatest research(the Market Research Report - 2021), conducted by Fortune Business Insights, the global cyber security market size for 2020 is estimated to be around $153.16 billion and it is expected to be worth $366.10 billion in 2028 (CAGR of 12%). However, I believe that the market can be much bigger, driven by the fact that cybersecurity will become a critical element, especially in a world in which everything tends to be digital. Nonetheless, as stated by the company, Telos sees a total addressable market at$80 billion.</p><p><b>Company Products Overview</b></p><p>Telos is a cybersecurity company that offers software-based security solutions to U.S. federal government (e.g., Department of Defence, Central Intelligence Agency, etc.) and enterprises (e.g., Amazon (AMZN), Citigroup (CITI), Microsoft(MSFT), etc.). The company was founded in 1969 and its mission is to focus on the needs of its customers. In fact, Telos puts always customer needs at first place, which means offering solutions or improvements required by its clients. Telos's ability to be a customer-centric organization can be clearly seen through the numbers, since 85% of Telos revenues are recurring (and approximately 50% of total revenue comes from segments with no or limited competition).</p><p>The company offers different solution, among others:</p><ol><li><b>Telos Xacta:</b>is a solution that embodies two main functions: first, to continuously manage the cyber risk (security assessment for instance); and second, to help organizations manage security compliance. As stated by the company, the main advantages coming from using Telos Xacta are:<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c4d0337daeb5f6d1476c5006b87b257\" tg-width=\"640\" tg-height=\"287\" referrerpolicy=\"no-referrer\"><span>Source:Telos.comThe product is very appreciated by its customer since it is used not only by the U.S. federal government, but also by big clouds providers, such as AWS and Microsoft Azure.</span></p></li><li><b>Telos Ghost:</b>is a solution that we could see as VPN 2.0, summarized by the company as:<i>\"you can't exploit what you can't see\".</i>Nowadays, more and more people are using VPN to try to protect themselves against possible threats or just because they want to remain anonymous in the Internet. However, this is not enough, especially if you are a manager of a big company and you exchange business critical information with others. This is where Telos Ghost comes in your help: it creates a fully secured network, where all the data are encrypted, user information (e.g., location and identity) are hidden, and the company's network is protected against any possible cyber threat. As stated by the company, the main advantages coming from using Telos Xacta are:Source:<i>Telos.com</i></li><li><b>Telos ID:</b>is an identity management solution, which uses technologies, such as fuse biometrics, credentials, etc., to make sure that only specific persons can have access to sensitive information. It is a dominant solution among U.S. federal agencies, but it is also gaining popularity among enterprises.</li></ol><p><b>Discounted Cash Flow Model</b></p><p>Let's now perform a DCF analysis. Fundamentally, the company has big opportunities to offer, even if not fully yet. Let's start by looking at the cost structure.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec0b4e8cab77dfeca9a4ebca5df711f2\" tg-width=\"640\" tg-height=\"345\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>From the figure above we can clearly see how services represent the biggest portion of costs, namely 91% for the last year (versus 5 year average of 87%), and are those responsible for keeping the operating margins relatively low. On the other side, as we can imagine, the biggest portion of revenues comes from services, namely 89.6%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/98cdbc7405967c885a87824acff198e0\" tg-width=\"640\" tg-height=\"341\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>In particular, it is worth noting the changing growth trajectory which started in 2017 as a direct response to new business goals definition. In 2017, Telos started to invest into new products and solutions to expand its addressable market. These revenues growth dynamics are expected to keep increasing in line with its accelerating partnership programs and the strong brand name that company has in the industry.</p><p>Before starting doing any projection, I retrieved 5 years of historical data to better understand how the company works. I present below the historical data and the projections I made for the years to come:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d814ffc0af7d3802cda7521d9b7321a2\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>At first sight, numbers don’t seem to be that promising, but we should not jump at that conclusion too fast and we should instead think out of the box. Until 2017, Telos used to work more with the government, but since 2018 its strategy has changed. In fact, as stated by the company, Telos is now focusing on leveraging its security solutions by expanding their presence in commercial markets; they do this by developing new solutions and strengthening the current ones.</p><p>In particular, the company is focusing on improving its margins and revenues by expanding its partner program to speed up the scaling in the commercial and international markets. In fact, this is what they are doing: as right now, both Telos Ghost and Xacta are available through various AWS and Microsoft Azure marketplace. Now, in light of this, and considering also the willingness of president Joe Biden to put more efforts and money into cybersecurity projects, I allow the company to grow at a CAGR of 33% in the years 2 to 5 and then I steadily decrease the growth rate to 1.58% in year 10. Why 33%? Well, it's purely subjective. I look at the company revenue growth in recent years, the company revenues relative to the overall market size and to larger players in the sector.</p><p>Now, for what concern margins, I believe that they can be improved, so I increase them to what I consider reasonable levels given the company business: 52% (versus current 34.69%) for the gross margin and 19.5% (versus current 0.69%) for the operating margin. To determine the company target margins, I look at the industry averages: for instance, the U.S. industry average margins are 23.30% and the global ones 19.31%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/433b6939a7b8156a6b622f453033f8bf\" tg-width=\"589\" tg-height=\"184\" referrerpolicy=\"no-referrer\"><span>Source:Pages.stern.nyu.edu/~adamodar/</span></p><p>A number that is worth to be noted is the sales to capital ratio (i.e. growth efficiency), which tells us how much we must reinvest to keep our business growing; the higher this number the more efficiently the company is growing. In doing my projections, I decrease this number to 0.95 in year 10 (i.e. industry average).</p><p>Finally, let's look at the market inputs we need to use in the discounted cash flow model.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8935dcbda0d8246faca532f5e8c18cf8\" tg-width=\"622\" tg-height=\"157\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>The implied equity risk premium was computed following the country of incorporation approach, in this case looking only at the U.S. market. The implied equity risk premium at the time of the computation was of 4.02%, well below the historical 3 years median of 5.68%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33334f3b9b8fc28838136eef10d07e92\" tg-width=\"640\" tg-height=\"393\" referrerpolicy=\"no-referrer\"><span>Source:Pages.stern.nyu.edu/~adamodar/</span></p><p>The cost of capital computations are displayed in the figure below:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/be84b5939fcc6c091f8ad8b44872560e\" tg-width=\"640\" tg-height=\"84\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>Now, taking all the projections and discounting the cash flows, I obtain a value per share of $37.15 (19% potential upside); alternatively, if you prefer pricing the company instead of discounting the future cash flows, I come up with a value of $52.8 (70% potential upside). The pricing value is obtained by taking the expected EPS in 2025 of 1.76 and multiplying it for a P/E of 30. The P/E of 30 is obtained by looking at the current Palantir (PLTR) P/E value of 125 and bringing it down to what I believe is a more reasonable value.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c2f928594eb8d7e4f3427fbf22ba1533\" tg-width=\"640\" tg-height=\"440\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p><b>Catalysts</b></p><p>At this point, you may be asking yourself: What kind of catalysts may make the value converge to the “fair” price? I would like to underline some possible catalysts, which are sector and company related.</p><ul><li>The first big catalyst I see comes from the companies themselves. By understanding the fact that the cyber threat is a real danger, which harms the business not only economically but also reputationally, businesses will be willing to do everything is in their power to protect themselves against such risks. Thus, they will invest heavily in cyberdefense.</li><li>The second catalyst comes from the digital transformation we are living now, which will be even bigger in years to come. As we know, technology is bad and good at the same time, where the former comes from cyber-attacks.</li><li>The third catalyst comes from the governments increasing spending in cybersecurity related projects, which is driven by two reasons: the willingness to protect critical information and the willingness to become leaders in the field.<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21cad07a429fd8674ad8cfab24a091b6\" tg-width=\"640\" tg-height=\"498\" referrerpolicy=\"no-referrer\"><span>Source:Belfercenter.org</span></p></li></ul><p><b>Technical Analysis</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5eb1ef868b278a8c94a56a2ddb177563\" tg-width=\"640\" tg-height=\"303\" referrerpolicy=\"no-referrer\"><span>Source:TradingView.com</span></p><p>For what concerns technical analysis, the formation I see is a “Flags, High and Tigh” with the odds in the stock’s favor. Let me explain why. First, this kind of formation is the one which I mostly love, since it offers the best performance: the average rise after the breakout is of 69% in a bull market and of 40% in a bear market; as right now, we are in a bull market according to the economic business cycle indicators. Then, if we look at the volume, we can see a falling volume structure, which makes the breakout performance even stronger (71% vs 52% for rising volume trend) and, given the current price levels, I see a risk-reward ratio of 2.9 over a period of 6 months to 1 year.</p><p><b>Final Thoughts</b></p><p>The digitalization process brings many benefits with it, but it also brings many risks. In a world in which enterprises are becoming more and more digital, cybersecurity represents a key piece to complete the puzzle. Not many have understood it yet, but when they will do, the trend will be already running at a fast pace and joining the train will offer a much lower risk-reward ratio.</p><p>Even if Telos is not a newly founded company, it knows well the industry in which it operates and it is highly adaptable at the evolving environment. Going forward, the key metric to look at is its ability to expand in the commercial market, both domestic and international.</p><p>Currently, it shows buying signals on both the fundamental and technical side and this should be taken into account. Especially for short-term investors (i.e. investors with a time horizon less than 1 year), I see an opportunity to get a return in the range of 40-60% over the next 6 to 12 months.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A Big Opportunity In A Big Market</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\">\nA Big Opportunity In A Big Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-14 11:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4428510-telos-a-big-opportunity-in-a-big-market><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThe global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be valued at $366.10 billion in 2028 at a CAGR of 12%.Throughout 2020, malware and ransomware attacks ...</p>\n\n<a href=\"https://seekingalpha.com/article/4428510-telos-a-big-opportunity-in-a-big-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TLS":"Telos Corporation"},"source_url":"https://seekingalpha.com/article/4428510-telos-a-big-opportunity-in-a-big-market","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1129126046","content_text":"SummaryThe global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be valued at $366.10 billion in 2028 at a CAGR of 12%.Throughout 2020, malware and ransomware attacks increased by more than a third (e.g., Colonial Pipeline is the latest example of a ransomware attack).The estimated intrinsic value for the company is $37.15 (19% potential upside), while the pricing value is $52.8 (70% potential upside).Editor's note: Seeking Alpha is proud to welcome Deniel Selivanov as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium.OverviewTelos (TLS) is a cybersecurity play, which has exposure on both sides of the market, government and commercial. With the last two big cyberattacks which involved U.S. companies, namely the SolarWinds attack and Colonial Pipeline attack, we can clearly see how cybersecurity will be one of the future big trends that, if taken at the right time, offers big opportunity with big gains.Telos stock has rallied 42.67% since the IPO in 2020, outperforming the 15.3% rise in the S&P 500 over the same time period.I believe that the 25% correction in Telos stock from its 52-Week high offers a good opportunity to take a position in this cybersecurity company.Long Term: Sector Outlook OverviewThe pandemic made the digitalization process accelerate at a very fast pace and, if from one side the digitalization process brings a lot of benefits, it also brings big risks with it, namely the cyber-risk. In 2020 many companies were \"forced\" to become more digital and for time-constraints reasons everything was done without taking into account possible mistakes along the road. These mistakes, however, didn't pass unnoticed.The cyber-attacks in 2020 increased at the same pace as the digitalization transformation, especially malware and ransomware type of attacks. But why should we worry about cyber risk? A cyber-attack could lead to business interruption events: for instance, the last one involved the Colonial Pipeline, which represent not only a monetary cost for the company (whichincreased by 72%in the last 5 years) but also a reputational one.Thelatest reportpublished by Allianz (the Allianz Risk Barometer report 2021) has found that the most important global and business risks for 2021 are: business interruption (top 1), pandemic outbreak (top 2), and cyber incidents (top 3). If we consider the business interruption as a consequence of a cyber-attack, we can clearly visualize how the cyber threat is the most important risk for businesses, not only in 2021 but especially in the years to come.Source:Agcs.allianz.comAmong different kinds of cyber-attacks, malware and ransomware are those which are spreading faster than others. Throughout 2020, malware and ransomware attacks increased by more than a third, (e.g., Colonial Pipeline is an example of ransomware attack). Once hit by such attacks, companies tend to pay what a ransom attacker demand; however, this is only the direct cost associated with the attack and we should not forget about all the indirect costs associated with it, which are much bigger.Emsisoft, a company specialized in anti-malware solutions, estimated that in 2020 the ransom demand (i.e. the direct cost) representedonly 6%of the total cost in which companies incurred to deal with the cyber-attack. Finally, we must take into account that companies' willingness to pay attackers increases the number and the complexity of cyber-attacks.In thelatest research(the Market Research Report - 2021), conducted by Fortune Business Insights, the global cyber security market size for 2020 is estimated to be around $153.16 billion and it is expected to be worth $366.10 billion in 2028 (CAGR of 12%). However, I believe that the market can be much bigger, driven by the fact that cybersecurity will become a critical element, especially in a world in which everything tends to be digital. Nonetheless, as stated by the company, Telos sees a total addressable market at$80 billion.Company Products OverviewTelos is a cybersecurity company that offers software-based security solutions to U.S. federal government (e.g., Department of Defence, Central Intelligence Agency, etc.) and enterprises (e.g., Amazon (AMZN), Citigroup (CITI), Microsoft(MSFT), etc.). The company was founded in 1969 and its mission is to focus on the needs of its customers. In fact, Telos puts always customer needs at first place, which means offering solutions or improvements required by its clients. Telos's ability to be a customer-centric organization can be clearly seen through the numbers, since 85% of Telos revenues are recurring (and approximately 50% of total revenue comes from segments with no or limited competition).The company offers different solution, among others:Telos Xacta:is a solution that embodies two main functions: first, to continuously manage the cyber risk (security assessment for instance); and second, to help organizations manage security compliance. As stated by the company, the main advantages coming from using Telos Xacta are:Source:Telos.comThe product is very appreciated by its customer since it is used not only by the U.S. federal government, but also by big clouds providers, such as AWS and Microsoft Azure.Telos Ghost:is a solution that we could see as VPN 2.0, summarized by the company as:\"you can't exploit what you can't see\".Nowadays, more and more people are using VPN to try to protect themselves against possible threats or just because they want to remain anonymous in the Internet. However, this is not enough, especially if you are a manager of a big company and you exchange business critical information with others. This is where Telos Ghost comes in your help: it creates a fully secured network, where all the data are encrypted, user information (e.g., location and identity) are hidden, and the company's network is protected against any possible cyber threat. As stated by the company, the main advantages coming from using Telos Xacta are:Source:Telos.comTelos ID:is an identity management solution, which uses technologies, such as fuse biometrics, credentials, etc., to make sure that only specific persons can have access to sensitive information. It is a dominant solution among U.S. federal agencies, but it is also gaining popularity among enterprises.Discounted Cash Flow ModelLet's now perform a DCF analysis. Fundamentally, the company has big opportunities to offer, even if not fully yet. Let's start by looking at the cost structure.Source:Author’s Estimates using data from latest 10K reportFrom the figure above we can clearly see how services represent the biggest portion of costs, namely 91% for the last year (versus 5 year average of 87%), and are those responsible for keeping the operating margins relatively low. On the other side, as we can imagine, the biggest portion of revenues comes from services, namely 89.6%.Source:Author’s Estimates using data from latest 10K reportIn particular, it is worth noting the changing growth trajectory which started in 2017 as a direct response to new business goals definition. In 2017, Telos started to invest into new products and solutions to expand its addressable market. These revenues growth dynamics are expected to keep increasing in line with its accelerating partnership programs and the strong brand name that company has in the industry.Before starting doing any projection, I retrieved 5 years of historical data to better understand how the company works. I present below the historical data and the projections I made for the years to come:Source:Author’s Estimates using data from latest 10K reportAt first sight, numbers don’t seem to be that promising, but we should not jump at that conclusion too fast and we should instead think out of the box. Until 2017, Telos used to work more with the government, but since 2018 its strategy has changed. In fact, as stated by the company, Telos is now focusing on leveraging its security solutions by expanding their presence in commercial markets; they do this by developing new solutions and strengthening the current ones.In particular, the company is focusing on improving its margins and revenues by expanding its partner program to speed up the scaling in the commercial and international markets. In fact, this is what they are doing: as right now, both Telos Ghost and Xacta are available through various AWS and Microsoft Azure marketplace. Now, in light of this, and considering also the willingness of president Joe Biden to put more efforts and money into cybersecurity projects, I allow the company to grow at a CAGR of 33% in the years 2 to 5 and then I steadily decrease the growth rate to 1.58% in year 10. Why 33%? Well, it's purely subjective. I look at the company revenue growth in recent years, the company revenues relative to the overall market size and to larger players in the sector.Now, for what concern margins, I believe that they can be improved, so I increase them to what I consider reasonable levels given the company business: 52% (versus current 34.69%) for the gross margin and 19.5% (versus current 0.69%) for the operating margin. To determine the company target margins, I look at the industry averages: for instance, the U.S. industry average margins are 23.30% and the global ones 19.31%.Source:Pages.stern.nyu.edu/~adamodar/A number that is worth to be noted is the sales to capital ratio (i.e. growth efficiency), which tells us how much we must reinvest to keep our business growing; the higher this number the more efficiently the company is growing. In doing my projections, I decrease this number to 0.95 in year 10 (i.e. industry average).Finally, let's look at the market inputs we need to use in the discounted cash flow model.Source:Author’s Estimates using data from latest 10K reportThe implied equity risk premium was computed following the country of incorporation approach, in this case looking only at the U.S. market. The implied equity risk premium at the time of the computation was of 4.02%, well below the historical 3 years median of 5.68%.Source:Pages.stern.nyu.edu/~adamodar/The cost of capital computations are displayed in the figure below:Source:Author’s Estimates using data from latest 10K reportNow, taking all the projections and discounting the cash flows, I obtain a value per share of $37.15 (19% potential upside); alternatively, if you prefer pricing the company instead of discounting the future cash flows, I come up with a value of $52.8 (70% potential upside). The pricing value is obtained by taking the expected EPS in 2025 of 1.76 and multiplying it for a P/E of 30. The P/E of 30 is obtained by looking at the current Palantir (PLTR) P/E value of 125 and bringing it down to what I believe is a more reasonable value.Source:Author’s Estimates using data from latest 10K reportCatalystsAt this point, you may be asking yourself: What kind of catalysts may make the value converge to the “fair” price? I would like to underline some possible catalysts, which are sector and company related.The first big catalyst I see comes from the companies themselves. By understanding the fact that the cyber threat is a real danger, which harms the business not only economically but also reputationally, businesses will be willing to do everything is in their power to protect themselves against such risks. Thus, they will invest heavily in cyberdefense.The second catalyst comes from the digital transformation we are living now, which will be even bigger in years to come. As we know, technology is bad and good at the same time, where the former comes from cyber-attacks.The third catalyst comes from the governments increasing spending in cybersecurity related projects, which is driven by two reasons: the willingness to protect critical information and the willingness to become leaders in the field.Source:Belfercenter.orgTechnical AnalysisSource:TradingView.comFor what concerns technical analysis, the formation I see is a “Flags, High and Tigh” with the odds in the stock’s favor. Let me explain why. First, this kind of formation is the one which I mostly love, since it offers the best performance: the average rise after the breakout is of 69% in a bull market and of 40% in a bear market; as right now, we are in a bull market according to the economic business cycle indicators. Then, if we look at the volume, we can see a falling volume structure, which makes the breakout performance even stronger (71% vs 52% for rising volume trend) and, given the current price levels, I see a risk-reward ratio of 2.9 over a period of 6 months to 1 year.Final ThoughtsThe digitalization process brings many benefits with it, but it also brings many risks. In a world in which enterprises are becoming more and more digital, cybersecurity represents a key piece to complete the puzzle. Not many have understood it yet, but when they will do, the trend will be already running at a fast pace and joining the train will offer a much lower risk-reward ratio.Even if Telos is not a newly founded company, it knows well the industry in which it operates and it is highly adaptable at the evolving environment. Going forward, the key metric to look at is its ability to expand in the commercial market, both domestic and international.Currently, it shows buying signals on both the fundamental and technical side and this should be taken into account. Especially for short-term investors (i.e. investors with a time horizon less than 1 year), I see an opportunity to get a return in the range of 40-60% over the next 6 to 12 months.","news_type":1},"isVote":1,"tweetType":1,"viewCount":568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379593640,"gmtCreate":1618757154580,"gmtModify":1704714628190,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Game on!","listText":"Game on!","text":"Game on!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/379593640","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://ttm.financial/m/news/1175692875?lang=&edition=fundamental","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p>How to trade this?</p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><blockquote>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b></blockquote><p>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>$544 Billion In Options Expire Today: Here's What Will Move</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\">\n$544 Billion In Options Expire Today: Here's What Will Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348757428,"gmtCreate":1617967416164,"gmtModify":1704705421830,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Which to invest?","listText":"Which to invest?","text":"Which to invest?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/348757428","repostId":"1168300924","repostType":4,"repost":{"id":"1168300924","kind":"news","pubTimestamp":1617955250,"share":"https://ttm.financial/m/news/1168300924?lang=&edition=fundamental","pubTime":"2021-04-09 16:00","market":"us","language":"en","title":"Next Week’s IPO Lineup Is Growing. It Could Be Busy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1168300924","media":"barrons","summary":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Pa","content":"<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.</p><p>Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.</p><p>And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.</p><p>This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.</p><p>Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.</p><p>Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR,&nbsp;Bank of America‘s (BAC) BofA Securities, andCitigroup(C).</p><p>Founded in 2012, Applovin&nbsp;provides software&nbsp;used by mobile-game developers to grow their businesses.&nbsp; Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.</p><p>In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.</p><p>With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.</p><p>TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.</p><p>Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.</p><p>Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.</p><p>TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.</p><p>The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.</p><p>TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management &amp; Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.</p><p>The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.</p>","source":"lsy1601382232898","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>Next Week’s IPO Lineup Is Growing. It Could Be Busy.</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\">\nNext Week’s IPO Lineup Is Growing. It Could Be Busy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six....</p>\n\n<a href=\"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168300924","content_text":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR, Bank of America‘s (BAC) BofA Securities, andCitigroup(C).Founded in 2012, Applovin provides software used by mobile-game developers to grow their businesses.  Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management & Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":732,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575040910386797","authorId":"3575040910386797","name":"trollololol","avatar":"https://static.tigerbbs.com/bb3709f9470a5163c6c7031ab692e8c9","crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3575040910386797","idStr":"3575040910386797"},"content":"like and reply please","text":"like and reply please","html":"like and reply please"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366520227,"gmtCreate":1614516101369,"gmtModify":1704772202199,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"This mean BRK is under value ??","listText":"This mean BRK is under value ??","text":"This mean BRK is under value ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366520227","repostId":"2114424589","repostType":2,"isVote":1,"tweetType":1,"viewCount":931,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382090080,"gmtCreate":1613292118040,"gmtModify":1704879784142,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Good benchmark&nbsp;","listText":"Good benchmark&nbsp;","text":"Good benchmark","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/382090080","repostId":"2110026963","repostType":4,"repost":{"id":"2110026963","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1613109422,"share":"https://ttm.financial/m/news/2110026963?lang=&edition=fundamental","pubTime":"2021-02-12 13:57","market":"us","language":"en","title":"Here's the formula for spotting genuinely undervalued companies, claims this investment house","url":"https://stock-news.laohu8.com/highlight/detail?id=2110026963","media":"Dow Jones","summary":"The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis. For most of 2020, investors poured money into names like online retailer Amazon $$, electric-car maker Tesla $$, and e-commerce platform Shopify -- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.But when news broke in early November 2020 that drug company Pfizer $$ and its partner BioNTech $$ had developed an effective vaccine against COVID-19, something pro","content":"<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's the formula for spotting genuinely undervalued companies, claims this investment house</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\">\nHere's the formula for spotting genuinely undervalued companies, claims this investment house\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-12 13:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110026963","content_text":"MW Here's the formula for spotting genuinely undervalued companies, claims this investment house\nThe growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis\nFor most of 2020, investors poured money into names like online retailer Amazon $(AMZN)$, electric-car maker Tesla $(TSLA)$, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.\nBut when news broke in early November 2020 that drug company Pfizer $(PFE)$ and its partner BioNTech $(BNTX)$ had developed an effective vaccine against COVID-19, something profound happened in financial markets.\nInvestors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.\nThis rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.\nAnd it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.\nThe apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.\n\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.\n\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"\nAnalysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.\nThe value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.\nIn reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.\nStocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.\nTo have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":386901584,"gmtCreate":1613122329148,"gmtModify":1704878590599,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Interesting article ??","listText":"Interesting article ??","text":"Interesting article ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/386901584","repostId":"2110026963","repostType":4,"repost":{"id":"2110026963","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1613109422,"share":"https://ttm.financial/m/news/2110026963?lang=&edition=fundamental","pubTime":"2021-02-12 13:57","market":"us","language":"en","title":"Here's the formula for spotting genuinely undervalued companies, claims this investment house","url":"https://stock-news.laohu8.com/highlight/detail?id=2110026963","media":"Dow Jones","summary":"The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis. For most of 2020, investors poured money into names like online retailer Amazon $$, electric-car maker Tesla $$, and e-commerce platform Shopify -- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.But when news broke in early November 2020 that drug company Pfizer $$ and its partner BioNTech $$ had developed an effective vaccine against COVID-19, something pro","content":"<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's the formula for spotting genuinely undervalued companies, claims this investment house</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\">\nHere's the formula for spotting genuinely undervalued companies, claims this investment house\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-12 13:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110026963","content_text":"MW Here's the formula for spotting genuinely undervalued companies, claims this investment house\nThe growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis\nFor most of 2020, investors poured money into names like online retailer Amazon $(AMZN)$, electric-car maker Tesla $(TSLA)$, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.\nBut when news broke in early November 2020 that drug company Pfizer $(PFE)$ and its partner BioNTech $(BNTX)$ had developed an effective vaccine against COVID-19, something profound happened in financial markets.\nInvestors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.\nThis rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.\nAnd it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.\nThe apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.\n\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.\n\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"\nAnalysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.\nThe value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.\nIn reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.\nStocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.\nTo have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.","news_type":1},"isVote":1,"tweetType":1,"viewCount":124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":381856605,"gmtCreate":1612955464407,"gmtModify":1704876477114,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Ironic!","listText":"Ironic!","text":"Ironic!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/381856605","repostId":"2110695015","repostType":2,"repost":{"id":"2110695015","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":1612954805,"share":"https://ttm.financial/m/news/2110695015?lang=&edition=fundamental","pubTime":"2021-02-10 19:00","market":"hk","language":"en","title":"INSIGHT-Elon Musk wants clean power. But Tesla's carrying bitcoin's dirty baggage","url":"https://stock-news.laohu8.com/highlight/detail?id=2110695015","media":"Reuters","summary":"* Production of bitcoin uses large amounts of energy   * CO2 emissions estimated to be equivalent to","content":"<html><body><p>* Production of bitcoin uses large amounts of energy</p><p>   * CO2 emissions estimated to be equivalent to a small country</p><p>   * Could complicate companies and investors' ESG pledges</p><p>   * Projects aim to create 'green bitcoin' from renewables</p><p>   * Could entrepreneur Musk and Tesla electrify this drive?</p><p>    By Anna Irrera and Tom Wilson</p><p>   LONDON, Feb 10 (Reuters) - Tesla boss Elon Musk is a poster child of low-carbon technology. Yet the electric carmaker's backing of bitcoin this week could turbo-charge global use of a currency that's estimated to cause more pollution than a small country every year.</p><p>   Tesla Inc    revealed on Monday it had bought $1.5 billion of bitcoin and would soon accept it as payment for cars, sending the price of the cryptocurrency though the roof.</p><p>   So what's the problem, you may ask? Bitcoin's virtual, so it's not like it's made from paper or plastic, or even metal.</p><p>   The digital currency is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies</p><p>on fossil fuels, particularly coal, the dirtiest of them all.</p><p>   At current rates, such bitcoin \"mining\" devours about the same amount of energy annually as the Netherlands did in 2019, the latest available data from the University of Cambridge and the International Energy Agency shows. </p><p>   Bitcoin production is estimated to generate between 22 and 22.9 metric tons of carbon dioxide emissions a year, or between the levels produced by Jordan and Sri Lanka, according to a 2019 study in scientific journal Joule.</p><p>   The landmark inclusion of the cryptocurrency in Tesla's investment portfolio could complicate the company's zero-emissions ethos, according to some investors, at a time when ESG - environmental, social and governance - considerations have become a major factor for global investors. </p><p>   \"We are of course very concerned about the level of carbon dioxide emissions generated from bitcoin mining,\" said Ben Dear, CEO of Osmosis Investment Management, a sustainable investor managing around $2.2 billion in assets that holds Tesla stock in several portfolios.     </p><p>   \"We hope that when Tesla's bitcoin ventures are over, they will concentrate on measuring and disclosing to their market their full suite of environmental factors, and if they continue to buy or indeed start mining bitcoin, that they include the relevant energy consumption data in these disclosures.\" </p><p>   Tesla did not respond to a request for comment.</p><p>   Still, it's not all eco-doom and gloom, and Tesla's bet on bitcoin comes amid growing attempts in the cryptocurrency industry to mitigate the environmental harm of mining. This movement could be advanced by billionaire entrepreneur Musk, who this week separately offered $100 million for inventions that could pull carbon dioxide from the atmosphere or oceans.</p><p>   The entrance of big corporations into the crypto market could also boost incentives to produce \"green bitcoin\" using renewable energy, some sustainability experts say. They add that companies could buy carbon credits to compensate too.</p><p>   Yet in the shorter term, Tesla's disclosure of its bitcoin investment, made in a securities filing, could indirectly serve to exacerbate the environmental costs of mining.</p><p>   Other companies are likely to follow its lead by buying into the currency, investors and industry experts say. Greater demand, and higher prices, lead to more miners competing to solve puzzles in the fastest time to win coin, using increasingly powerful computers that need more energy.</p><p>   \"It's (bitcoin) not a sustainable investment and it's hard to make it sustainable with the kind of system it is built on,\" said Sanna Setterwall, a consultant at corporate sustainability advisory South Pole. </p><p>   CAN TESLA TURN BITCOIN GREEN?</p><p>   Estimates on bitcoin's reliance on fossil fuels versus renewables vary, with detailed data on the bitcoin mining industry's energy mix hard to come by.</p><p>   Projects from Canada to Siberia are striving for ways to wean bitcoin mining away from fossil fuels, or at least to reduce its carbon footprint, and make the currency more palatable to mainstream investors.</p><p>   SJ Oh, a former bitcoin trader based in Hong Kong and a self-professed \"tree-hugger\", was aware that his passion for the environment was somewhat at odds with his day job. So a year ago he co-founded Pow.re, a firm that runs green bitcoin mining operations in the Canadian subarctic. </p><p>   Located in Labrador, Pow.re's machines run on hydropower, with plans to repurpose the heat generated by the mining to serve local agriculture, heating and other needs, he said. </p><p>   \"Overwhelmingly, I do think there will be a concerted effort by the bitcoin industry to be environmentally friendly,\" said Oh, who believes Musk and his company can come up with better methods.</p><p>   \"Tesla is <a href=\"https://laohu8.com/S/AONE\">one</a> of the greenest companies on the planet so I'm sure they'll figure it out.\" </p><p>   Other projects aimed at reducing bitcoin's carbon impact include that run by an arm of Russian gas producer Gazprom</p><p>  in the Khanty-Mansi region of Siberia.</p><p>   There, power generated by flare gas - a by-product from oil extraction usually burned off - is used for cryptocurrency mining. The process leaves a lower carbon footprint than coal power, said Gazprom Neft, the unit behind the project.</p><p>   In theory, blockchain analysis firms say, it is possible to track the source of bitcoin, raising the possibility that a premium could be charged for green bitcoin. Stronger climate change policies by governments around the world might also help.</p><p>   \"It's not so much bitcoin that is the problem.\" said Yves Bennaim, the founder of 2B4CH, a Switzerland-based cryptocurrency think-tank. </p><p>   \"People are saying it's energy intensive therefore it's polluting, but that is just the nature of the energy we are using today. As bitcoin goes up there will be more incentive to make investments in renewable sources of energy.\" </p><p>   Some bitcoin proponents note, meanwhile, that the existing financial system with its millions of employees and computers in air-conditioned offices uses large amounts of energy too.   </p><p>   'OBJECTIVE IS MAKING PROFIT'</p><p>   However it is early days for such green projects, and some ESG experts say bitcoin could have a tough task being accepted by mainstream investors en masse in the foreseeable future.</p><p>   \"I still think the big players will refrain from bitcoin for these particular reasons - <a href=\"https://laohu8.com/S/AONE.U\">one</a> being very a negative climate angle to it, given the way it's mined, and two, the compliance and ethical issues related to it,\" said Sasja Beslik, head of sustainable business development at Bank J. Safra Sarasin in Zurich.</p><p>   Some industry players and academics warn that the dominance of Chinese miners and lack of motivation to swap cheap fossil fuels for more expensive renewables means there are few quick fixes to the emissions problem.</p><p>   Chinese miners account for about 70% of bitcoin production, data from the University of Cambridge's Centre for Alternative Finance shows. They tend to use renewable energy - mostly hydropower - during the rainy summer months, but fossil fuels - primarily coal - for the rest of the year. </p><p>   \"Every miner's objective is making a profit, so they don't care about what kind of energy they use, if it is generated by hydro, wind, solar or burning coal,\" said Jack Liao, CEO of Chinese mining firm LightningAsic, adding that government incentives for miners to favor renewable energy might help.</p><p>   Others are less optimistic that significant change is on the horizon. </p><p>   \"Production of renewables is extremely volatile, it's not ideal as a consistent form of power,\" said Alex De Vries, the founder of research platform Digiconomist.</p><p>   \"The problem is that the miners that will last the longest will be the ones using cheap fossil fuels, simply because it is the cheapest and more stable source.\"</p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Power hungry: Bitcoin's growing energy use    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Reporting by Anna Irrera and Tom Wilson in London; Editing by Pravin Char)</p><p>((Anna.Irrera@thomsonreuters.com; +1 646 223 4005 ;))</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>INSIGHT-Elon Musk wants clean power. But Tesla's carrying bitcoin's dirty baggage</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\">\nINSIGHT-Elon Musk wants clean power. But Tesla's carrying bitcoin's dirty baggage\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\">2021-02-10 19:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>* Production of bitcoin uses large amounts of energy</p><p>   * CO2 emissions estimated to be equivalent to a small country</p><p>   * Could complicate companies and investors' ESG pledges</p><p>   * Projects aim to create 'green bitcoin' from renewables</p><p>   * Could entrepreneur Musk and Tesla electrify this drive?</p><p>    By Anna Irrera and Tom Wilson</p><p>   LONDON, Feb 10 (Reuters) - Tesla boss Elon Musk is a poster child of low-carbon technology. Yet the electric carmaker's backing of bitcoin this week could turbo-charge global use of a currency that's estimated to cause more pollution than a small country every year.</p><p>   Tesla Inc    revealed on Monday it had bought $1.5 billion of bitcoin and would soon accept it as payment for cars, sending the price of the cryptocurrency though the roof.</p><p>   So what's the problem, you may ask? Bitcoin's virtual, so it's not like it's made from paper or plastic, or even metal.</p><p>   The digital currency is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relies</p><p>on fossil fuels, particularly coal, the dirtiest of them all.</p><p>   At current rates, such bitcoin \"mining\" devours about the same amount of energy annually as the Netherlands did in 2019, the latest available data from the University of Cambridge and the International Energy Agency shows. </p><p>   Bitcoin production is estimated to generate between 22 and 22.9 metric tons of carbon dioxide emissions a year, or between the levels produced by Jordan and Sri Lanka, according to a 2019 study in scientific journal Joule.</p><p>   The landmark inclusion of the cryptocurrency in Tesla's investment portfolio could complicate the company's zero-emissions ethos, according to some investors, at a time when ESG - environmental, social and governance - considerations have become a major factor for global investors. </p><p>   \"We are of course very concerned about the level of carbon dioxide emissions generated from bitcoin mining,\" said Ben Dear, CEO of Osmosis Investment Management, a sustainable investor managing around $2.2 billion in assets that holds Tesla stock in several portfolios.     </p><p>   \"We hope that when Tesla's bitcoin ventures are over, they will concentrate on measuring and disclosing to their market their full suite of environmental factors, and if they continue to buy or indeed start mining bitcoin, that they include the relevant energy consumption data in these disclosures.\" </p><p>   Tesla did not respond to a request for comment.</p><p>   Still, it's not all eco-doom and gloom, and Tesla's bet on bitcoin comes amid growing attempts in the cryptocurrency industry to mitigate the environmental harm of mining. This movement could be advanced by billionaire entrepreneur Musk, who this week separately offered $100 million for inventions that could pull carbon dioxide from the atmosphere or oceans.</p><p>   The entrance of big corporations into the crypto market could also boost incentives to produce \"green bitcoin\" using renewable energy, some sustainability experts say. They add that companies could buy carbon credits to compensate too.</p><p>   Yet in the shorter term, Tesla's disclosure of its bitcoin investment, made in a securities filing, could indirectly serve to exacerbate the environmental costs of mining.</p><p>   Other companies are likely to follow its lead by buying into the currency, investors and industry experts say. Greater demand, and higher prices, lead to more miners competing to solve puzzles in the fastest time to win coin, using increasingly powerful computers that need more energy.</p><p>   \"It's (bitcoin) not a sustainable investment and it's hard to make it sustainable with the kind of system it is built on,\" said Sanna Setterwall, a consultant at corporate sustainability advisory South Pole. </p><p>   CAN TESLA TURN BITCOIN GREEN?</p><p>   Estimates on bitcoin's reliance on fossil fuels versus renewables vary, with detailed data on the bitcoin mining industry's energy mix hard to come by.</p><p>   Projects from Canada to Siberia are striving for ways to wean bitcoin mining away from fossil fuels, or at least to reduce its carbon footprint, and make the currency more palatable to mainstream investors.</p><p>   SJ Oh, a former bitcoin trader based in Hong Kong and a self-professed \"tree-hugger\", was aware that his passion for the environment was somewhat at odds with his day job. So a year ago he co-founded Pow.re, a firm that runs green bitcoin mining operations in the Canadian subarctic. </p><p>   Located in Labrador, Pow.re's machines run on hydropower, with plans to repurpose the heat generated by the mining to serve local agriculture, heating and other needs, he said. </p><p>   \"Overwhelmingly, I do think there will be a concerted effort by the bitcoin industry to be environmentally friendly,\" said Oh, who believes Musk and his company can come up with better methods.</p><p>   \"Tesla is <a href=\"https://laohu8.com/S/AONE\">one</a> of the greenest companies on the planet so I'm sure they'll figure it out.\" </p><p>   Other projects aimed at reducing bitcoin's carbon impact include that run by an arm of Russian gas producer Gazprom</p><p>  in the Khanty-Mansi region of Siberia.</p><p>   There, power generated by flare gas - a by-product from oil extraction usually burned off - is used for cryptocurrency mining. The process leaves a lower carbon footprint than coal power, said Gazprom Neft, the unit behind the project.</p><p>   In theory, blockchain analysis firms say, it is possible to track the source of bitcoin, raising the possibility that a premium could be charged for green bitcoin. Stronger climate change policies by governments around the world might also help.</p><p>   \"It's not so much bitcoin that is the problem.\" said Yves Bennaim, the founder of 2B4CH, a Switzerland-based cryptocurrency think-tank. </p><p>   \"People are saying it's energy intensive therefore it's polluting, but that is just the nature of the energy we are using today. As bitcoin goes up there will be more incentive to make investments in renewable sources of energy.\" </p><p>   Some bitcoin proponents note, meanwhile, that the existing financial system with its millions of employees and computers in air-conditioned offices uses large amounts of energy too.   </p><p>   'OBJECTIVE IS MAKING PROFIT'</p><p>   However it is early days for such green projects, and some ESG experts say bitcoin could have a tough task being accepted by mainstream investors en masse in the foreseeable future.</p><p>   \"I still think the big players will refrain from bitcoin for these particular reasons - <a href=\"https://laohu8.com/S/AONE.U\">one</a> being very a negative climate angle to it, given the way it's mined, and two, the compliance and ethical issues related to it,\" said Sasja Beslik, head of sustainable business development at Bank J. Safra Sarasin in Zurich.</p><p>   Some industry players and academics warn that the dominance of Chinese miners and lack of motivation to swap cheap fossil fuels for more expensive renewables means there are few quick fixes to the emissions problem.</p><p>   Chinese miners account for about 70% of bitcoin production, data from the University of Cambridge's Centre for Alternative Finance shows. They tend to use renewable energy - mostly hydropower - during the rainy summer months, but fossil fuels - primarily coal - for the rest of the year. </p><p>   \"Every miner's objective is making a profit, so they don't care about what kind of energy they use, if it is generated by hydro, wind, solar or burning coal,\" said Jack Liao, CEO of Chinese mining firm LightningAsic, adding that government incentives for miners to favor renewable energy might help.</p><p>   Others are less optimistic that significant change is on the horizon. </p><p>   \"Production of renewables is extremely volatile, it's not ideal as a consistent form of power,\" said Alex De Vries, the founder of research platform Digiconomist.</p><p>   \"The problem is that the miners that will last the longest will be the ones using cheap fossil fuels, simply because it is the cheapest and more stable source.\"</p><p>    &lt;^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Power hungry: Bitcoin's growing energy use    </p><p>   ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^&gt;</p><p>(Reporting by Anna Irrera and Tom Wilson in London; Editing by Pravin Char)</p><p>((Anna.Irrera@thomsonreuters.com; +1 646 223 4005 ;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110695015","content_text":"* Production of bitcoin uses large amounts of energy   * CO2 emissions estimated to be equivalent to a small country   * Could complicate companies and investors' ESG pledges   * Projects aim to create 'green bitcoin' from renewables   * Could entrepreneur Musk and Tesla electrify this drive?    By Anna Irrera and Tom Wilson   LONDON, Feb 10 (Reuters) - Tesla boss Elon Musk is a poster child of low-carbon technology. Yet the electric carmaker's backing of bitcoin this week could turbo-charge global use of a currency that's estimated to cause more pollution than a small country every year.   Tesla Inc    revealed on Monday it had bought $1.5 billion of bitcoin and would soon accept it as payment for cars, sending the price of the cryptocurrency though the roof.   So what's the problem, you may ask? Bitcoin's virtual, so it's not like it's made from paper or plastic, or even metal.   The digital currency is created when high-powered computers compete against other machines to solve complex mathematical puzzles, an energy-intensive process that currently often relieson fossil fuels, particularly coal, the dirtiest of them all.   At current rates, such bitcoin \"mining\" devours about the same amount of energy annually as the Netherlands did in 2019, the latest available data from the University of Cambridge and the International Energy Agency shows.    Bitcoin production is estimated to generate between 22 and 22.9 metric tons of carbon dioxide emissions a year, or between the levels produced by Jordan and Sri Lanka, according to a 2019 study in scientific journal Joule.   The landmark inclusion of the cryptocurrency in Tesla's investment portfolio could complicate the company's zero-emissions ethos, according to some investors, at a time when ESG - environmental, social and governance - considerations have become a major factor for global investors.    \"We are of course very concerned about the level of carbon dioxide emissions generated from bitcoin mining,\" said Ben Dear, CEO of Osmosis Investment Management, a sustainable investor managing around $2.2 billion in assets that holds Tesla stock in several portfolios.        \"We hope that when Tesla's bitcoin ventures are over, they will concentrate on measuring and disclosing to their market their full suite of environmental factors, and if they continue to buy or indeed start mining bitcoin, that they include the relevant energy consumption data in these disclosures.\"    Tesla did not respond to a request for comment.   Still, it's not all eco-doom and gloom, and Tesla's bet on bitcoin comes amid growing attempts in the cryptocurrency industry to mitigate the environmental harm of mining. This movement could be advanced by billionaire entrepreneur Musk, who this week separately offered $100 million for inventions that could pull carbon dioxide from the atmosphere or oceans.   The entrance of big corporations into the crypto market could also boost incentives to produce \"green bitcoin\" using renewable energy, some sustainability experts say. They add that companies could buy carbon credits to compensate too.   Yet in the shorter term, Tesla's disclosure of its bitcoin investment, made in a securities filing, could indirectly serve to exacerbate the environmental costs of mining.   Other companies are likely to follow its lead by buying into the currency, investors and industry experts say. Greater demand, and higher prices, lead to more miners competing to solve puzzles in the fastest time to win coin, using increasingly powerful computers that need more energy.   \"It's (bitcoin) not a sustainable investment and it's hard to make it sustainable with the kind of system it is built on,\" said Sanna Setterwall, a consultant at corporate sustainability advisory South Pole.    CAN TESLA TURN BITCOIN GREEN?   Estimates on bitcoin's reliance on fossil fuels versus renewables vary, with detailed data on the bitcoin mining industry's energy mix hard to come by.   Projects from Canada to Siberia are striving for ways to wean bitcoin mining away from fossil fuels, or at least to reduce its carbon footprint, and make the currency more palatable to mainstream investors.   SJ Oh, a former bitcoin trader based in Hong Kong and a self-professed \"tree-hugger\", was aware that his passion for the environment was somewhat at odds with his day job. So a year ago he co-founded Pow.re, a firm that runs green bitcoin mining operations in the Canadian subarctic.    Located in Labrador, Pow.re's machines run on hydropower, with plans to repurpose the heat generated by the mining to serve local agriculture, heating and other needs, he said.    \"Overwhelmingly, I do think there will be a concerted effort by the bitcoin industry to be environmentally friendly,\" said Oh, who believes Musk and his company can come up with better methods.   \"Tesla is one of the greenest companies on the planet so I'm sure they'll figure it out.\"    Other projects aimed at reducing bitcoin's carbon impact include that run by an arm of Russian gas producer Gazprom  in the Khanty-Mansi region of Siberia.   There, power generated by flare gas - a by-product from oil extraction usually burned off - is used for cryptocurrency mining. The process leaves a lower carbon footprint than coal power, said Gazprom Neft, the unit behind the project.   In theory, blockchain analysis firms say, it is possible to track the source of bitcoin, raising the possibility that a premium could be charged for green bitcoin. Stronger climate change policies by governments around the world might also help.   \"It's not so much bitcoin that is the problem.\" said Yves Bennaim, the founder of 2B4CH, a Switzerland-based cryptocurrency think-tank.    \"People are saying it's energy intensive therefore it's polluting, but that is just the nature of the energy we are using today. As bitcoin goes up there will be more incentive to make investments in renewable sources of energy.\"    Some bitcoin proponents note, meanwhile, that the existing financial system with its millions of employees and computers in air-conditioned offices uses large amounts of energy too.      'OBJECTIVE IS MAKING PROFIT'   However it is early days for such green projects, and some ESG experts say bitcoin could have a tough task being accepted by mainstream investors en masse in the foreseeable future.   \"I still think the big players will refrain from bitcoin for these particular reasons - one being very a negative climate angle to it, given the way it's mined, and two, the compliance and ethical issues related to it,\" said Sasja Beslik, head of sustainable business development at Bank J. Safra Sarasin in Zurich.   Some industry players and academics warn that the dominance of Chinese miners and lack of motivation to swap cheap fossil fuels for more expensive renewables means there are few quick fixes to the emissions problem.   Chinese miners account for about 70% of bitcoin production, data from the University of Cambridge's Centre for Alternative Finance shows. They tend to use renewable energy - mostly hydropower - during the rainy summer months, but fossil fuels - primarily coal - for the rest of the year.    \"Every miner's objective is making a profit, so they don't care about what kind of energy they use, if it is generated by hydro, wind, solar or burning coal,\" said Jack Liao, CEO of Chinese mining firm LightningAsic, adding that government incentives for miners to favor renewable energy might help.   Others are less optimistic that significant change is on the horizon.    \"Production of renewables is extremely volatile, it's not ideal as a consistent form of power,\" said Alex De Vries, the founder of research platform Digiconomist.   \"The problem is that the miners that will last the longest will be the ones using cheap fossil fuels, simply because it is the cheapest and more stable source.\"    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Power hungry: Bitcoin's growing energy use       ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>(Reporting by Anna Irrera and Tom Wilson in London; Editing by Pravin Char)((Anna.Irrera@thomsonreuters.com; +1 646 223 4005 ;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383620767,"gmtCreate":1612874869359,"gmtModify":1704875250216,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"The future is here.","listText":"The future is here.","text":"The future is here.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383620767","repostId":"2110066956","repostType":2,"repost":{"id":"2110066956","kind":"news","pubTimestamp":1612873920,"share":"https://ttm.financial/m/news/2110066956?lang=&edition=fundamental","pubTime":"2021-02-09 20:32","market":"us","language":"zh","title":"5G吹的牛要成真了，骁龙X65让10Gbps时代来临","url":"https://stock-news.laohu8.com/highlight/detail?id=2110066956","media":"CCTIME飞象网","summary":"10Gbps的牛成真了在骁龙X65发布之前，速度最快的基带是早于其几天发布的联发科M80，下行速率可达7.67Gbps。2月9日，高通正式发布了骁龙X65 5G调制解调器及射频系统，该产品的峰值速率可达10Gbps，成为目前速率最快的基带，同时也是全球首个进入10Gbps大关的产品。这就意味着，在2021年，5G将正式进入10Gbps时代。另外值得注意的是，骁龙X65还是首个符合3GPP R16规范的调制解调器及射频系统。","content":"<html><body><article><p><strong>飞象网讯</strong>（魏德龄/文）请回忆一下，5G最初是如何介绍给世人的呢？网速是4G时代的100倍，峰值速率10Gbps起，同时这项技术还堪称是第四次工业革命，可以惠及万物，变革生产方式。</p><p>上述的内容，可以说是5G在4G时代就开始吹下的牛，然而单就峰值速率来说，其实5G网络的速率却一直没有达到10Gbps，R15规范下对于工业用例的支持也微乎其微。</p><p>不过，随着骁龙X65 5G调制解调器及射频系统的发布，5G吹的牛要成真了。</p><p><strong>10Gbps的牛成真了</strong></p><p>在骁龙X65发布之前，速度最快的基带是早于其几天发布的联发科M80，下行速率可达7.67Gbps。骁龙X65上代产品骁龙X60的峰值速率为7.5Gbps。尽管峰值速率相比4G已经优势明显，但相较于当初5G给出的峰值速率10Gbps起的承诺，还有一定距离。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210209203210607v173z2i4l16mh0b\"/><p>2月9日，<a href=\"https://laohu8.com/S/QCOM\">高通</a>正式发布了骁龙X65 5G调制解调器及射频系统，该产品的峰值速率可达10Gbps，成为目前速率最快的基带，同时也是全球首个进入10Gbps大关的产品。这也就意味着，未来搭载骁龙X65的5G终端产品，将可具备峰值速率为10Gbps的能力。</p><p>同时，在2021年全球各个地区的5G部署，也将开始具备为用户提供更高峰值速率5G网络的能力，其中一个重要的因素就在于毫米波网络将进一步部署。其中美国、欧洲、日本、东南亚已经进行了毫米波商用部署，预计德国、英国、意大利等欧洲其它国家，还有韩国、澳大利亚将在2021年开展毫米波商用部署，毫米波的部署也意味着运营商具备为用户提供峰值速率可达10Gbps的能力。对此，与骁龙X65配套的高通QTM545毫米波天线模组还新增了对于41GHz频段的支持。骁龙X65的下行链路带宽也进行了大幅提升，毫米波频段高达1GHz，Sub-6GHz频段达到300MHz。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210209203212842v173ivz5r5bblsk\"/><p>此外，更快的速率也并不意味着更高的能耗，高通将第7代宽带包络追踪技术引入高通骁龙X65，全新高通QET7100宽带包络追踪器可将能效提高30%，节省手机空间，支持多个5G和4G功率放大器。高通还首次将AI引入天线调谐系统，推出高通AI辅助信号增强技术，能够利用AI智能地侦测手部握持手机的动作，并动态调谐天线，实现更低的通话掉线率、更快速率、更佳覆盖和更长续航的体验。</p><p>另根据高通给出的信息显示，骁龙X65目前已提供给客户出样，基于这两款调制解调器及射频解决方案的商用终端预计在2021年晚些时候面市。这就意味着，在2021年，5G将正式进入10Gbps时代。</p><p><strong>第四次工业革命的牛要成真了</strong></p><p>骁龙X65的应用范围非常广泛，除了智能手机、移动热点等传统应用之外，骁龙X65还可以支持固定无线接入；除手持产品外，骁龙X65还支持笔记本、平板电脑在内的膝上产品，并可赋能工业互联网、5G企业专网等垂直行业。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210209203213443v173zf76o6tp8ag\"/><p>“骁龙X65 5G调制解调器及射频系统的推出使高通能够更好地服务于我们的客户，将5G应用场景从传统的消费领域扩展至更多细分领域，使5G更好的赋能垂直行业，帮助推动整个社会的数字化转型。”高通技术公司业务拓展高级总监南明凯博士在媒体沟通会上表示。众所周知，5G最大亮点之一不仅是支持To C业务，还可以赋能广泛的垂直行业。</p><p>另外值得注意的是，骁龙X65还是首个符合3GPP R16规范的调制解调器及射频系统。同时还具备可升级架构，可以针对不同运营商的5G部署情况，通过软件升级，分批次快速实现对R16规范特性的支持。</p><p>R16规范作为5G标准的重要大版本迭代，其中包含了对于5G能力的三角构建，包含了CIoT（支持海量IoT终端接入）与URLLC；在基础能力上也通过eNS提升了网络切片能力；在垂直行业拓展上通过Vertical LAN实现面向不同行业的定制化网络能力，并确定了5G V2X架构，支持L3-L4自动驾驶。也就是说，骁龙X65对于R16规范的支持，使其具备了更强的赋能垂直行业能力。</p><p><strong>替代固定宽带的牛要成真了</strong></p><p>5G还肩负着解决光纤入户最后一公里的问题，但目前在室内环境中5G信号的覆盖能力一般会大大折扣。另外，与单一设备连接5G网络不同，替代传统固定宽带，还对网络容量提出了要求。</p><p>此前，高通在2019年推出的第1代高通5G固定无线接入平台，大幅简化并推动固定无线接入终端的普及。2020年，高通还与运营商和其它技术公司合作，创纪录的基于5G毫米波在超过7公里的通信距离下实现了千兆级传输速率。</p><img src=\"https://fid-75186.picgzc.qpic.cn/20210209203213864v1733udgve2n51y\"/><p>高通在发布骁龙X65的同时，还推出了第2代高通5G固定无线接入（FWA）平台，其搭载高通骁龙X65调制解调器及射频系统，采用高通QTM547增程毫米波天线模组，该模组可以支持Sub-6GHz 8路接收，同时支持高通动态天线调谐技术。</p><p>高通QTM547增程毫米波天线模组为5G 固定无线接入提供增程解决方案并对骁龙X65 5G调制解调器及射频系统的性能进行了扩展。它为高性能的5G毫米波CPE设计提供了完整的从调制解调器到天线的平台，将帮助终端厂商更快且更具成本效益地开发出5G 固定无线接入终端。</p><p>也就是说，一方面在速率突破10Gbps大关的情况下，另一方面还进一步提升了网络能力，让无论是家庭还是企业都可以自信地以即插即用的5G解决方案来替代DSL、有线或光纤。同时也有望解决运营商在固定宽带业务中的部署难题，在节省了大量人工成本的情况下，网线光纤横飞的小区楼道、室内不考究的布线或将一去不复返。</p></article></body></html>","source":"tencent","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>5G吹的牛要成真了，骁龙X65让10Gbps时代来临</title>\n<style 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}\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\">\n5G吹的牛要成真了，骁龙X65让10Gbps时代来临\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-09 20:32 北京时间&nbsp;&nbsp;&nbsp;<a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202102092032167e617cc6&s=b><strong>CCTIME飞象网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>飞象网讯（魏德龄/文）请回忆一下，5G最初是如何介绍给世人的呢？网速是4G时代的100倍，峰值速率10Gbps起，同时这项技术还堪称是第四次工业革命，可以惠及万物，变革生产方式。上述的内容，可以说是5G在4G时代就开始吹下的牛，然而单就峰值速率来说，其实5G网络的速率却一直没有达到10Gbps，R15规范下对于工业用例的支持也微乎其微。不过，随着骁龙X65 5G调制解调器及射频系统的发布，5G吹的...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202102092032167e617cc6&s=b\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/d998dfa20b7b0402d1dc07798e3c3efd","relate_stocks":{},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202102092032167e617cc6&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2110066956","content_text":"飞象网讯（魏德龄/文）请回忆一下，5G最初是如何介绍给世人的呢？网速是4G时代的100倍，峰值速率10Gbps起，同时这项技术还堪称是第四次工业革命，可以惠及万物，变革生产方式。上述的内容，可以说是5G在4G时代就开始吹下的牛，然而单就峰值速率来说，其实5G网络的速率却一直没有达到10Gbps，R15规范下对于工业用例的支持也微乎其微。不过，随着骁龙X65 5G调制解调器及射频系统的发布，5G吹的牛要成真了。10Gbps的牛成真了在骁龙X65发布之前，速度最快的基带是早于其几天发布的联发科M80，下行速率可达7.67Gbps。骁龙X65上代产品骁龙X60的峰值速率为7.5Gbps。尽管峰值速率相比4G已经优势明显，但相较于当初5G给出的峰值速率10Gbps起的承诺，还有一定距离。2月9日，高通正式发布了骁龙X65 5G调制解调器及射频系统，该产品的峰值速率可达10Gbps，成为目前速率最快的基带，同时也是全球首个进入10Gbps大关的产品。这也就意味着，未来搭载骁龙X65的5G终端产品，将可具备峰值速率为10Gbps的能力。同时，在2021年全球各个地区的5G部署，也将开始具备为用户提供更高峰值速率5G网络的能力，其中一个重要的因素就在于毫米波网络将进一步部署。其中美国、欧洲、日本、东南亚已经进行了毫米波商用部署，预计德国、英国、意大利等欧洲其它国家，还有韩国、澳大利亚将在2021年开展毫米波商用部署，毫米波的部署也意味着运营商具备为用户提供峰值速率可达10Gbps的能力。对此，与骁龙X65配套的高通QTM545毫米波天线模组还新增了对于41GHz频段的支持。骁龙X65的下行链路带宽也进行了大幅提升，毫米波频段高达1GHz，Sub-6GHz频段达到300MHz。此外，更快的速率也并不意味着更高的能耗，高通将第7代宽带包络追踪技术引入高通骁龙X65，全新高通QET7100宽带包络追踪器可将能效提高30%，节省手机空间，支持多个5G和4G功率放大器。高通还首次将AI引入天线调谐系统，推出高通AI辅助信号增强技术，能够利用AI智能地侦测手部握持手机的动作，并动态调谐天线，实现更低的通话掉线率、更快速率、更佳覆盖和更长续航的体验。另根据高通给出的信息显示，骁龙X65目前已提供给客户出样，基于这两款调制解调器及射频解决方案的商用终端预计在2021年晚些时候面市。这就意味着，在2021年，5G将正式进入10Gbps时代。第四次工业革命的牛要成真了骁龙X65的应用范围非常广泛，除了智能手机、移动热点等传统应用之外，骁龙X65还可以支持固定无线接入；除手持产品外，骁龙X65还支持笔记本、平板电脑在内的膝上产品，并可赋能工业互联网、5G企业专网等垂直行业。“骁龙X65 5G调制解调器及射频系统的推出使高通能够更好地服务于我们的客户，将5G应用场景从传统的消费领域扩展至更多细分领域，使5G更好的赋能垂直行业，帮助推动整个社会的数字化转型。”高通技术公司业务拓展高级总监南明凯博士在媒体沟通会上表示。众所周知，5G最大亮点之一不仅是支持To C业务，还可以赋能广泛的垂直行业。另外值得注意的是，骁龙X65还是首个符合3GPP R16规范的调制解调器及射频系统。同时还具备可升级架构，可以针对不同运营商的5G部署情况，通过软件升级，分批次快速实现对R16规范特性的支持。R16规范作为5G标准的重要大版本迭代，其中包含了对于5G能力的三角构建，包含了CIoT（支持海量IoT终端接入）与URLLC；在基础能力上也通过eNS提升了网络切片能力；在垂直行业拓展上通过Vertical LAN实现面向不同行业的定制化网络能力，并确定了5G V2X架构，支持L3-L4自动驾驶。也就是说，骁龙X65对于R16规范的支持，使其具备了更强的赋能垂直行业能力。替代固定宽带的牛要成真了5G还肩负着解决光纤入户最后一公里的问题，但目前在室内环境中5G信号的覆盖能力一般会大大折扣。另外，与单一设备连接5G网络不同，替代传统固定宽带，还对网络容量提出了要求。此前，高通在2019年推出的第1代高通5G固定无线接入平台，大幅简化并推动固定无线接入终端的普及。2020年，高通还与运营商和其它技术公司合作，创纪录的基于5G毫米波在超过7公里的通信距离下实现了千兆级传输速率。高通在发布骁龙X65的同时，还推出了第2代高通5G固定无线接入（FWA）平台，其搭载高通骁龙X65调制解调器及射频系统，采用高通QTM547增程毫米波天线模组，该模组可以支持Sub-6GHz 8路接收，同时支持高通动态天线调谐技术。高通QTM547增程毫米波天线模组为5G 固定无线接入提供增程解决方案并对骁龙X65 5G调制解调器及射频系统的性能进行了扩展。它为高性能的5G毫米波CPE设计提供了完整的从调制解调器到天线的平台，将帮助终端厂商更快且更具成本效益地开发出5G 固定无线接入终端。也就是说，一方面在速率突破10Gbps大关的情况下，另一方面还进一步提升了网络能力，让无论是家庭还是企业都可以自信地以即插即用的5G解决方案来替代DSL、有线或光纤。同时也有望解决运营商在固定宽带业务中的部署难题，在节省了大量人工成本的情况下，网线光纤横飞的小区楼道、室内不考究的布线或将一去不复返。","news_type":1},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389879091,"gmtCreate":1612755977713,"gmtModify":1704873842805,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Stay liquid for next opportunity?","listText":"Stay liquid for next opportunity?","text":"Stay liquid for next opportunity?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/389879091","repostId":"1180268693","repostType":4,"repost":{"id":"1180268693","kind":"news","pubTimestamp":1612755259,"share":"https://ttm.financial/m/news/1180268693?lang=&edition=fundamental","pubTime":"2021-02-08 11:34","market":"us","language":"en","title":"Where Can Investors Hide as a Bubble Inflates?","url":"https://stock-news.laohu8.com/highlight/detail?id=1180268693","media":"Barrons","summary":"Let’s settle one thing up front. We’re clearly witnessing a speculative bubble in the financial mark","content":"<p>Let’s settle one thing up front. We’re clearly witnessing a speculative bubble in the financial markets. This time is no different. This mania will end the same way they all do: in tears.</p>\n<p>I started banging the gong in mid-2020 about the imminent risk of financial crisis stemming from three potential causes: a severe market correction, a deteriorating U.S. fiscal position from unsustainable growth in deficits and debt, and the inflation that was likely to follow.</p>\n<p>At that time, this viewpoint was greeted with a heavy dose of skepticism. Inflationary views were considered fringe. Respected economists were quick to point out the lack of demand for money relative to rapidly expanding supply, slack in the lockdown economy, and prevailing expectations for deflation based on recent history. Wall Street has little incentive to call a market bubble. Fees are made and bonuses paid when optimism, activity and volatility are high, not by predictions of impending doom. The euphorias of bubbles are like the best narcotics—stimulative and somewhat hypnotic. But the bigger the high, the worse the comedown.</p>\n<p>These contrarian views of inflation and market correction have now become mainstream. The warning signs of market mania are evident inBitcoin(up 300% in a year), the deluge ofSPAC IPOs(always a signal of a top), exorbitantP/E ratios, and rapidly rising real estateprices. These, along with retail-driven short squeezes and mini-bubbles, are symptoms of underlying conditions set in motion long ago by a flood of liquidity unleashed by the Federal Reserve. This time is different, however, in one important way. When this bubble bursts, the Fed can no longer prop up the market by lowering interest rates. Real rates, which were about 4% before the global financial crisis, are now below zero almost everywhere.</p>\n<p>The Biden administration is expected to unleash a blue wave of stimulus and other spending. This comes at a time when the revenue base is eroding, and the U.S. is no longer in a sound fiscal position. It is only a matter of time until government struggles to efficiently borrow against a gaping deficit and compounding debt. In 2020 alone, the U.S. government spent $3 trillion on pandemic relief while suffering a $2.1 trilliondecline in national incomefrom crippling lockdowns in our most economically important states, many of which continue today. By the end of fiscal 2020, total U.S. governmentdebtwas $27 trillion, up 20% from 2019 and triple the amount prior to the financial crisis. The Fed has absorbed a lot of this increase. Bond investors are rightly nervous.</p>\n<p>It is no surprise that the Fed has since adopted apro-inflation stance. An unspoken objective is to erode the topsoil from the mountain of U.S. debt at the expense of Americans. Inflation is a hidden tax that will eat away our purchasing power. Carmen Reinhart and Kenneth Rogoff remind us in<i>This Time is Different</i>that throughout history, “the main device for defaulting on government obligations was… debasing the content of coinage. Modern currency presses are just a technologically advanced and more efficient approach to achieving the same end.” They note, “government debt is… often the unifying problem across the wide range of financial crises.”</p>\n<p>Prices are now rising in inflation bellwethers such as industrial metals, energy, and food commodities. The dollar haslost85% of its purchasing power since 1970. While a majority of this can be attributed to high inflation in the 1970s, even the supposedly deflationary 21st century has witnessed the erosion of one-third of the value of the dollar since 2000.</p>\n<p>Rising inflation expectations go a long way in explaining the vertiginous ascent of the equity markets in the face of a partially closed economy with muted growth. As lockdowns and travel restrictions ease, pent-up demand will pressure global supply chains and thus prices. We can expect to see a further acceleration of inflation as early as this spring as economies reopen.</p>\n<p>Where can one thrive, or at least hide, in this environment? U.S. equity markets are vastly overvalued by any historic measure, but bonds and cash are both danger zones in inflation. While conventional wisdom says to stay invested, it may be a good time to take some chips off of the table. Resist “FOMO,” the fear of missing out. If one has to stay invested, avoid the temptation of high-flying tech and growth equities, which are the most overvalued, in favor of diversifying among recently abandoned dividend-paying value stocks and emerging markets. Inflation-sensitive commodity (food, metals, and energy) producers should perform going forward. Gold has a millennia-long history of serving as a store of value and inflationary hedge, but pays no dividends along the way.</p>\n<p>Bitcoin similarly earns no yield. Cryptocurrencies have no intrinsic value, and, like fiat currencies, are worth whatever the market happens to believe. When the euphoria wears off, they may be hit hard. Besides, Bitcoin is a stacked game easily manipulated given the high concentration ofownershipby whales.</p>\n<p>Watch out for gearing in investments, whether in securities or real estate. If markets collapse, leverage will rapidly eat into the remaining value. Look for hidden exposure to risk (including inflation) in retirement accounts. Invest in hard assets not correlated to the markets. Stay liquid to exploit the inevitable correction.</p>\n<p>We need to increase the pressure on our elected officials to cut the pork and reopen our economies. Americans want to get back to work. So-called stimulus funding is not getting into the hands of those who need it most. Ultimately, it’s the real economy, not financial markets, that drive growth and prosperity. That requires local businesses open, workers re-engaged, and productive capital investments made.</p>\n<p>This is not doom and gloom. Since the problem is not a banking-sector credit crisis, and the underlying economy remains healthy (albeit weakened), postcorrection recovery may come more quickly and easily than following the financial crisis. While persistent inflation can create a host of problems, it usually supports fuller employment, and both producers and consumers will adapt to a changing price environment. In the meantime, it may be best to stay liquid and wait this one out. As spring follows even the darkest winter, the opportune time will come again.</p>","source":"lsy1601382232898","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>Where Can Investors Hide as a Bubble Inflates?</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\">\nWhere Can Investors Hide as a Bubble Inflates?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-08 11:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/a-bubble-is-inflating-where-can-investors-hide-51612540675?mod=hp_COMMENTARY_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Let’s settle one thing up front. We’re clearly witnessing a speculative bubble in the financial markets. This time is no different. This mania will end the same way they all do: in tears.\nI started ...</p>\n\n<a href=\"https://www.barrons.com/articles/a-bubble-is-inflating-where-can-investors-hide-51612540675?mod=hp_COMMENTARY_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/a-bubble-is-inflating-where-can-investors-hide-51612540675?mod=hp_COMMENTARY_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180268693","content_text":"Let’s settle one thing up front. We’re clearly witnessing a speculative bubble in the financial markets. This time is no different. This mania will end the same way they all do: in tears.\nI started banging the gong in mid-2020 about the imminent risk of financial crisis stemming from three potential causes: a severe market correction, a deteriorating U.S. fiscal position from unsustainable growth in deficits and debt, and the inflation that was likely to follow.\nAt that time, this viewpoint was greeted with a heavy dose of skepticism. Inflationary views were considered fringe. Respected economists were quick to point out the lack of demand for money relative to rapidly expanding supply, slack in the lockdown economy, and prevailing expectations for deflation based on recent history. Wall Street has little incentive to call a market bubble. Fees are made and bonuses paid when optimism, activity and volatility are high, not by predictions of impending doom. The euphorias of bubbles are like the best narcotics—stimulative and somewhat hypnotic. But the bigger the high, the worse the comedown.\nThese contrarian views of inflation and market correction have now become mainstream. The warning signs of market mania are evident inBitcoin(up 300% in a year), the deluge ofSPAC IPOs(always a signal of a top), exorbitantP/E ratios, and rapidly rising real estateprices. These, along with retail-driven short squeezes and mini-bubbles, are symptoms of underlying conditions set in motion long ago by a flood of liquidity unleashed by the Federal Reserve. This time is different, however, in one important way. When this bubble bursts, the Fed can no longer prop up the market by lowering interest rates. Real rates, which were about 4% before the global financial crisis, are now below zero almost everywhere.\nThe Biden administration is expected to unleash a blue wave of stimulus and other spending. This comes at a time when the revenue base is eroding, and the U.S. is no longer in a sound fiscal position. It is only a matter of time until government struggles to efficiently borrow against a gaping deficit and compounding debt. In 2020 alone, the U.S. government spent $3 trillion on pandemic relief while suffering a $2.1 trilliondecline in national incomefrom crippling lockdowns in our most economically important states, many of which continue today. By the end of fiscal 2020, total U.S. governmentdebtwas $27 trillion, up 20% from 2019 and triple the amount prior to the financial crisis. The Fed has absorbed a lot of this increase. Bond investors are rightly nervous.\nIt is no surprise that the Fed has since adopted apro-inflation stance. An unspoken objective is to erode the topsoil from the mountain of U.S. debt at the expense of Americans. Inflation is a hidden tax that will eat away our purchasing power. Carmen Reinhart and Kenneth Rogoff remind us inThis Time is Differentthat throughout history, “the main device for defaulting on government obligations was… debasing the content of coinage. Modern currency presses are just a technologically advanced and more efficient approach to achieving the same end.” They note, “government debt is… often the unifying problem across the wide range of financial crises.”\nPrices are now rising in inflation bellwethers such as industrial metals, energy, and food commodities. The dollar haslost85% of its purchasing power since 1970. While a majority of this can be attributed to high inflation in the 1970s, even the supposedly deflationary 21st century has witnessed the erosion of one-third of the value of the dollar since 2000.\nRising inflation expectations go a long way in explaining the vertiginous ascent of the equity markets in the face of a partially closed economy with muted growth. As lockdowns and travel restrictions ease, pent-up demand will pressure global supply chains and thus prices. We can expect to see a further acceleration of inflation as early as this spring as economies reopen.\nWhere can one thrive, or at least hide, in this environment? U.S. equity markets are vastly overvalued by any historic measure, but bonds and cash are both danger zones in inflation. While conventional wisdom says to stay invested, it may be a good time to take some chips off of the table. Resist “FOMO,” the fear of missing out. If one has to stay invested, avoid the temptation of high-flying tech and growth equities, which are the most overvalued, in favor of diversifying among recently abandoned dividend-paying value stocks and emerging markets. Inflation-sensitive commodity (food, metals, and energy) producers should perform going forward. Gold has a millennia-long history of serving as a store of value and inflationary hedge, but pays no dividends along the way.\nBitcoin similarly earns no yield. Cryptocurrencies have no intrinsic value, and, like fiat currencies, are worth whatever the market happens to believe. When the euphoria wears off, they may be hit hard. Besides, Bitcoin is a stacked game easily manipulated given the high concentration ofownershipby whales.\nWatch out for gearing in investments, whether in securities or real estate. If markets collapse, leverage will rapidly eat into the remaining value. Look for hidden exposure to risk (including inflation) in retirement accounts. Invest in hard assets not correlated to the markets. Stay liquid to exploit the inevitable correction.\nWe need to increase the pressure on our elected officials to cut the pork and reopen our economies. Americans want to get back to work. So-called stimulus funding is not getting into the hands of those who need it most. Ultimately, it’s the real economy, not financial markets, that drive growth and prosperity. That requires local businesses open, workers re-engaged, and productive capital investments made.\nThis is not doom and gloom. Since the problem is not a banking-sector credit crisis, and the underlying economy remains healthy (albeit weakened), postcorrection recovery may come more quickly and easily than following the financial crisis. While persistent inflation can create a host of problems, it usually supports fuller employment, and both producers and consumers will adapt to a changing price environment. In the meantime, it may be best to stay liquid and wait this one out. As spring follows even the darkest winter, the opportune time will come again.","news_type":1},"isVote":1,"tweetType":1,"viewCount":43,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380895116,"gmtCreate":1612530313535,"gmtModify":1704872438153,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Compare energy consumption between physical mining vs digital mining?","listText":"Compare energy consumption between physical mining vs digital mining?","text":"Compare energy consumption between physical mining vs digital mining?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380895116","repostId":"1161551882","repostType":4,"isVote":1,"tweetType":1,"viewCount":31,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317613703,"gmtCreate":1612444052302,"gmtModify":1704871269967,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Battery vs Fossil vs Hydrogen.. which is more sustainable?","listText":"Battery vs Fossil vs Hydrogen.. which is more sustainable?","text":"Battery vs Fossil vs Hydrogen.. which is more sustainable?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317613703","repostId":"1198883855","repostType":4,"repost":{"id":"1198883855","kind":"news","pubTimestamp":1612407577,"share":"https://ttm.financial/m/news/1198883855?lang=&edition=fundamental","pubTime":"2021-02-04 10:59","market":"us","language":"en","title":"What are the challenges facing Biden's electric vehicle program?","url":"https://stock-news.laohu8.com/highlight/detail?id=1198883855","media":"marketwatch","summary":"President Biden may be winning points with environmentalists, renewable-energy champions and U.S. allies abroad for his serious approach to slowing global warming, but his electric-vehicle plan has some practical challenges when applied across all 50 states.Transportation isthe largest source of U.S. greenhouse gas emissions, which is why electric-vehicle adoption is a cornerstone of President Joe Biden’s ambitious climate-change plan.Biden may be winning points with some consumers, environmenta","content":"<p>President Biden may be winning points with environmentalists, renewable-energy champions and U.S. allies abroad for his serious approach to slowing global warming, but his electric-vehicle plan has some practical challenges when applied across all 50 states.</p><p>Transportation isthe largest source of U.S. greenhouse gas emissions, which is why electric-vehicle adoption is a cornerstone of President Joe Biden’s ambitious climate-change plan.</p><p>Biden may be winning points with some consumers, environmentalists, renewable-energy champions and allies abroad for his serious approach to slowing emissions, but his electric-vehicle initiative has some practical implementation challenges: states have varying barriers to entry.</p><p>Biden via executive order has said he will replace the U.S. government’s fleet of roughly 650,000 vehicles with electric models and encourage a broader national shift to electric cars, including installing 500,000 new electric vehicle charging stations across the country.</p><p>But states and cities have their own hot-and-cold political climate toward EVs and, for instance, some areas have sharply raised registration fees on EVs as an offset for lost tax revenue tied to gasoline purchases.</p><p>EVs tend to have lower lifetime ownership costs because of low fueling and maintenance expenses. But the higher initial purchase cost and lack of access to vehicle charging remain barriers for many households and fleet owners.</p><p>“Charging is the big challenge right now,” said Joe Wiesenfelder, executive editor at Cars.com. “People will want to charge at home, overnight, then unplug and drive. At-home charging doesn’t work in every home without modification. And once on the road and needing a charge, even fast-charging batteries aren’t as fast as the five minutes consumers are used to spending at a gas station.”</p><p>Still, well aware of the burgeoning policy and regulatory trend, several states, led by California, are taking comprehensive steps to help enable more residents and businesses to use and charge EVs. Other states notably have done less to reduce barriers to entry, according to the American Council for an Energy-Efficient Economy, in what it suggests is a first-of-its-kind&nbsp;report&nbsp;ranking states.</p><p>States that rate high in this particular report are mitigating obstacles by offering purchase incentives to buy EVs (on top of federal tax credits, which are up to $7,500 for select manufacturers, excluding TeslaTSLA,-2.07%,where credits have been phased out), adding more charging options and setting lower electric rates at preferred car-charging times.</p><p>California is the only state to set deadlines for electrifying transit buses, heavy trucks and commercial vehicles. The state is also one of the few to offer assistance for lower-income drivers replacing older, high-polluting cars with zero- or near-zero-emissions vehicles, and it plans to deploy chargers in economically distressed areas and communities with a history of environmental injustice.</p><p>California scored 91 out of 100 possible points. Other top finishers include New York; Washington, D.C.; Maryland; Massachusetts; Washington State; Vermont; Colorado; Oregon and New Jersey.</p><p>Twenty states earned 15 points or fewer.</p><p><img src=\"https://static.tigerbbs.com/fda572f679aec2a40d1fa93f5d4312dd\" tg-width=\"620\" tg-height=\"509\" referrerpolicy=\"no-referrer\">Evaluation in the American Council for an Energy-Efficient Economy scorecard focuses on the states that have demonstrated some level of progress on transportation electrification. Unranked states achieved no more than 15% of the total available points.</p><p>According to the state rankings, the most common state actions to electrify transportation include planning for more EVs and EV charging options (23 states); incentives such as rebates, tax credits and grants to buy large electric pickups and delivery trucks (27 states); using federal funds to buy electric transit buses (48 states); utility programs that offer lower electric rates at preferred times for EV (Level 2) charging (36 states) and utility funding to spur EV and EV charging adoption in low-income areas and environmental justice communities (15 states).</p><p>Cars.com’s Wiesenfelder said the pursuit of more EVs on the road has historically been a “pull not a push,” meaning consumers aren’t yet in front and plans are subsidy-reliant.</p><p>Cars.com said that despite the positive momentum expected in the EV category this year, hybrids and EV searches made up less than 1% of total searches&nbsp;on&nbsp;its site in 2020, signaling a long road ahead for mainstream adoption.</p><p>Under Biden’sproposed aim for net-zero U.S. emissionsby no later than 2050, the EV share of passenger vehicle sales would have to hit at least 25% by 2026, with electric-car sales reaching 4 million per year,&nbsp; Bloomberg NEF analysts, led by Aleksandra O’Donovan, said inreportlate last year.</p><p>Undeniably market forces are changing, especially with tech companies such as AppleAAPLrumored to enter the market, and automakers like HyundaiKR:005380, FordFand GMGMannouncing plans to significantly invest and expand their EV platforms. GM last week saidit aspires to offer only electric vehicles in 15 yearson its way to become a carbon-neutral company by 2040.</p><p>How fast local governments and individuals make the upgrades remain a challenge to the federal agenda.</p><p>“The leading states are embracing this transition, but many more are just starting, even as the automakers are preparing a burst of new electric models,” said Bryan Howard, state policy director at the American Council for an Energy-Efficient Economy.</p>","source":"lsy1603348471595","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> What are the challenges facing Biden's electric vehicle program?</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\">\n What are the challenges facing Biden's electric vehicle program?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-04 10:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/the-big-challenge-to-bidens-electric-vehicle-pledge-every-state-is-different-11612389231?mod=home-page><strong>marketwatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>President Biden may be winning points with environmentalists, renewable-energy champions and U.S. allies abroad for his serious approach to slowing global warming, but his electric-vehicle plan has ...</p>\n\n<a href=\"https://www.marketwatch.com/story/the-big-challenge-to-bidens-electric-vehicle-pledge-every-state-is-different-11612389231?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/11fb5ef0b1cb032e12ea701b85e5650d","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/the-big-challenge-to-bidens-electric-vehicle-pledge-every-state-is-different-11612389231?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198883855","content_text":"President Biden may be winning points with environmentalists, renewable-energy champions and U.S. allies abroad for his serious approach to slowing global warming, but his electric-vehicle plan has some practical challenges when applied across all 50 states.Transportation isthe largest source of U.S. greenhouse gas emissions, which is why electric-vehicle adoption is a cornerstone of President Joe Biden’s ambitious climate-change plan.Biden may be winning points with some consumers, environmentalists, renewable-energy champions and allies abroad for his serious approach to slowing emissions, but his electric-vehicle initiative has some practical implementation challenges: states have varying barriers to entry.Biden via executive order has said he will replace the U.S. government’s fleet of roughly 650,000 vehicles with electric models and encourage a broader national shift to electric cars, including installing 500,000 new electric vehicle charging stations across the country.But states and cities have their own hot-and-cold political climate toward EVs and, for instance, some areas have sharply raised registration fees on EVs as an offset for lost tax revenue tied to gasoline purchases.EVs tend to have lower lifetime ownership costs because of low fueling and maintenance expenses. But the higher initial purchase cost and lack of access to vehicle charging remain barriers for many households and fleet owners.“Charging is the big challenge right now,” said Joe Wiesenfelder, executive editor at Cars.com. “People will want to charge at home, overnight, then unplug and drive. At-home charging doesn’t work in every home without modification. And once on the road and needing a charge, even fast-charging batteries aren’t as fast as the five minutes consumers are used to spending at a gas station.”Still, well aware of the burgeoning policy and regulatory trend, several states, led by California, are taking comprehensive steps to help enable more residents and businesses to use and charge EVs. Other states notably have done less to reduce barriers to entry, according to the American Council for an Energy-Efficient Economy, in what it suggests is a first-of-its-kind report ranking states.States that rate high in this particular report are mitigating obstacles by offering purchase incentives to buy EVs (on top of federal tax credits, which are up to $7,500 for select manufacturers, excluding TeslaTSLA,-2.07%,where credits have been phased out), adding more charging options and setting lower electric rates at preferred car-charging times.California is the only state to set deadlines for electrifying transit buses, heavy trucks and commercial vehicles. The state is also one of the few to offer assistance for lower-income drivers replacing older, high-polluting cars with zero- or near-zero-emissions vehicles, and it plans to deploy chargers in economically distressed areas and communities with a history of environmental injustice.California scored 91 out of 100 possible points. Other top finishers include New York; Washington, D.C.; Maryland; Massachusetts; Washington State; Vermont; Colorado; Oregon and New Jersey.Twenty states earned 15 points or fewer.Evaluation in the American Council for an Energy-Efficient Economy scorecard focuses on the states that have demonstrated some level of progress on transportation electrification. Unranked states achieved no more than 15% of the total available points.According to the state rankings, the most common state actions to electrify transportation include planning for more EVs and EV charging options (23 states); incentives such as rebates, tax credits and grants to buy large electric pickups and delivery trucks (27 states); using federal funds to buy electric transit buses (48 states); utility programs that offer lower electric rates at preferred times for EV (Level 2) charging (36 states) and utility funding to spur EV and EV charging adoption in low-income areas and environmental justice communities (15 states).Cars.com’s Wiesenfelder said the pursuit of more EVs on the road has historically been a “pull not a push,” meaning consumers aren’t yet in front and plans are subsidy-reliant.Cars.com said that despite the positive momentum expected in the EV category this year, hybrids and EV searches made up less than 1% of total searches on its site in 2020, signaling a long road ahead for mainstream adoption.Under Biden’sproposed aim for net-zero U.S. emissionsby no later than 2050, the EV share of passenger vehicle sales would have to hit at least 25% by 2026, with electric-car sales reaching 4 million per year,  Bloomberg NEF analysts, led by Aleksandra O’Donovan, said inreportlate last year.Undeniably market forces are changing, especially with tech companies such as AppleAAPLrumored to enter the market, and automakers like HyundaiKR:005380, FordFand GMGMannouncing plans to significantly invest and expand their EV platforms. GM last week saidit aspires to offer only electric vehicles in 15 yearson its way to become a carbon-neutral company by 2040.How fast local governments and individuals make the upgrades remain a challenge to the federal agenda.“The leading states are embracing this transition, but many more are just starting, even as the automakers are preparing a burst of new electric models,” said Bryan Howard, state policy director at the American Council for an Energy-Efficient Economy.","news_type":1},"isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317610836,"gmtCreate":1612443820325,"gmtModify":1704871266551,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Finally.. some catalyst..","listText":"Finally.. some catalyst..","text":"Finally.. some catalyst..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317610836","repostId":"2108713228","repostType":4,"repost":{"id":"2108713228","kind":"news","pubTimestamp":1612426527,"share":"https://ttm.financial/m/news/2108713228?lang=&edition=fundamental","pubTime":"2021-02-04 16:15","market":"us","language":"en","title":"Alibaba Rallies in Credit Market as Dollar Bond Deal Starts","url":"https://stock-news.laohu8.com/highlight/detail?id=2108713228","media":"Bloomberg","summary":"(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 b","content":"<p>(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 billion, in what could be the biggest dollar bond sale in Asia in eight months.</p>\n<p>The Chinese e-commerce giant is marketing a multi-tranche bond offering which is expected to price as early as Thursday, according to a person familiar with the matter. The initial price guidance for the planned 10-year, 20-year, 30-year and 40-year notes is set at around 130 basis points, 140 basis points, 150 basis points and 160 basis points over U.S. Treasuries, said the person who isn’t authorized to speak publicly and asked not to be identified.</p>\n<p>Alibaba’s existing dollar notes and its shares rallied on Thursday after the news, on optimism that the deal was going ahead. Spreads on those securities tightened about 10 basis points across the curve, according to credit traders, more than the average 1 basis point on other Chinese investment-grade bonds. The company’s shares in Hong Kong erased earlier losses to trade up as much as 2.5%.</p>\n<p>If Alibaba were to raise $5 billion in the offering, that would be the biggest corporate dollar note deal in Asia since a $6 billion issuance by Tencent Holdings Ltd. in May. Alibaba was originally aiming to raise at least $5 billion via a debt sale that could have been increased to $8 billion depending on the reception, Bloomberg reported in early January. Investors had wondered then whether the company could pull off the deal as founder Jack Ma hadn’t been seen in public since his Internet empire was hit with growing antitrust scrutiny.</p>\n<p>The company is resuming the debt plans after reporting a 37% increase in quarterly revenue that beat analysts’ expectations, giving it a much-needed boost amid the regulatory crackdown. Beijing in November torpedoed affiliate Ant Group Co.’s record initial public offering and began an investigation into the online retailer, fueling uncertainty over the future of Ma’s tech empire. But the billionaire entrepreneur’s brief return to public view in January signaled that worst-case scenarios may be less likely.</p>\n<p>The firm is looking to raise cash partly for general corporate purposes, including working capital needs, repayment of offshore debt, and potential acquisitions of or investments in complementary businesses, according to the person. The 20-year tranche of Alibaba’s new offering will be its first sustainability bond.</p>\n<p>The company could not be reached immediately for comment.</p>\n<p>Alibaba’s dollar bonds have enjoyed a strong rebound since a selloff in China’s offshore investment grade notes at the beginning of the year. Spreads on the firm’s 3.4% note due 2027 were indicated at about 95 basis points over Treasuries on Wednesday, some 40 basis points tighter than its January high, the latest Bloomberg-compiled data show.</p>","source":"yahoofinance","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>Alibaba Rallies in Credit Market as Dollar Bond Deal Starts</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\">\nAlibaba Rallies in Credit Market as Dollar Bond Deal Starts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-04 16:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alibaba-rallies-credit-market-dollar-081527208.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 billion, in what could be the biggest dollar bond sale in Asia in eight months.\nThe Chinese e-...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-rallies-credit-market-dollar-081527208.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e271fe6de20809ded70d588b0374e136","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/alibaba-rallies-credit-market-dollar-081527208.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2108713228","content_text":"(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 billion, in what could be the biggest dollar bond sale in Asia in eight months.\nThe Chinese e-commerce giant is marketing a multi-tranche bond offering which is expected to price as early as Thursday, according to a person familiar with the matter. The initial price guidance for the planned 10-year, 20-year, 30-year and 40-year notes is set at around 130 basis points, 140 basis points, 150 basis points and 160 basis points over U.S. Treasuries, said the person who isn’t authorized to speak publicly and asked not to be identified.\nAlibaba’s existing dollar notes and its shares rallied on Thursday after the news, on optimism that the deal was going ahead. Spreads on those securities tightened about 10 basis points across the curve, according to credit traders, more than the average 1 basis point on other Chinese investment-grade bonds. The company’s shares in Hong Kong erased earlier losses to trade up as much as 2.5%.\nIf Alibaba were to raise $5 billion in the offering, that would be the biggest corporate dollar note deal in Asia since a $6 billion issuance by Tencent Holdings Ltd. in May. Alibaba was originally aiming to raise at least $5 billion via a debt sale that could have been increased to $8 billion depending on the reception, Bloomberg reported in early January. Investors had wondered then whether the company could pull off the deal as founder Jack Ma hadn’t been seen in public since his Internet empire was hit with growing antitrust scrutiny.\nThe company is resuming the debt plans after reporting a 37% increase in quarterly revenue that beat analysts’ expectations, giving it a much-needed boost amid the regulatory crackdown. Beijing in November torpedoed affiliate Ant Group Co.’s record initial public offering and began an investigation into the online retailer, fueling uncertainty over the future of Ma’s tech empire. But the billionaire entrepreneur’s brief return to public view in January signaled that worst-case scenarios may be less likely.\nThe firm is looking to raise cash partly for general corporate purposes, including working capital needs, repayment of offshore debt, and potential acquisitions of or investments in complementary businesses, according to the person. The 20-year tranche of Alibaba’s new offering will be its first sustainability bond.\nThe company could not be reached immediately for comment.\nAlibaba’s dollar bonds have enjoyed a strong rebound since a selloff in China’s offshore investment grade notes at the beginning of the year. Spreads on the firm’s 3.4% note due 2027 were indicated at about 95 basis points over Treasuries on Wednesday, some 40 basis points tighter than its January high, the latest Bloomberg-compiled data show.","news_type":1},"isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":311030472,"gmtCreate":1611756487196,"gmtModify":1704862866395,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3554886378573045","idStr":"3554886378573045"},"themes":[],"htmlText":"Far far away.","listText":"Far far away.","text":"Far far away.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/311030472","repostId":"1125767984","repostType":4,"repost":{"id":"1125767984","kind":"news","pubTimestamp":1611737376,"share":"https://ttm.financial/m/news/1125767984?lang=&edition=fundamental","pubTime":"2021-01-27 16:49","market":"us","language":"en","title":"What Might The New ARK Space Exploration ETF Look Like?","url":"https://stock-news.laohu8.com/highlight/detail?id=1125767984","media":"The street","summary":"The ARK Space Exploration ETF (ARKX) is on the way. Here's a guess at which stocks might be included","content":"<p>The ARK Space Exploration ETF (ARKX) is on the way. Here's a guess at which stocks might be included.</p><p>In case you missed it, ARK recently made a hugeannouncementthat it plans on launching the<b>ARK Space Exploration ETF (ARKX)</b>at some point in the near future. It will be the 8th fund in the ARK lineup and certainly fits in with the company's overall theme of identifying next-gen disruptive innovation.</p><p>Like most of the largest ARK ETFs, ARKX will be actively-managed. When a new passively-managed ETF launches, we can often look at its underlying index right away to see what the portfolio looks like and how it has performed in the past. With ARKX being actively-managed, however, we're kind of flying blind until the fund actually launches and ARK posts the fund holdings list for the first time.</p><p>Still, that doesn't prevent us from trying to forecast what stocks might show up in the fund.</p><p>There are already two ETFs in existence that focus on space exploration - the<b>Procure Space ETF (UFO)</b>and the&nbsp;<b>SPDR S&amp;P Kensho Final Frontiers ETF (ROKT)</b>. Despite the similarity in their target strategies, the two funds have less than a 20% overlap in assets. That means their management styles and how they go about selecting components for the fund are probably pretty different. But, we can take a look at their portfolio composition to help guide us as well.</p><p>We might get a better idea, though, from looking inward at the composition of existing ARK ETFs. This not gives us insight into some of the company's existing high conviction ideas, but the target strategies are probably similar enough that we'll see some crossover in the portfolios. This could especially be the case with the<b>ARK Autonomous Technology &amp; Robotics ETF (ARKQ)</b>, which already lists space exploration as one of its target niches.</p><p>Keep in mind that what I'm doing here is pure speculation. I have no inside information as to what ARKX will look like. I'm simply trying to follow the trail of clues to give us an idea of what the portfolio MIGHT end up looking like.</p><p>The No Brainers<img src=\"https://static.tigerbbs.com/5cc90d448e786dfa90b4a664ae95690e\" tg-width=\"1200\" tg-height=\"509\" referrerpolicy=\"no-referrer\"></p><p>Tesla</p><p>This seems like perhaps the most obvious choice of all. ARK CIO Cathie Wood is perhaps the biggest<b>Tesla (TSLA)</b>bull out there and three ARK ETFs have 10%+ allocations to Tesla stock already. We know that ARK isn't afraid to take huge positions in this company already.</p><p>Yes, Tesla is primarily an automaker, but the company's connection to SpaceX makes it a natural fit for ARKX. I think there's a good chance this could ultimately be the fund's top holding.</p><p><img src=\"https://static.tigerbbs.com/bdb1d68d9fe78e392dd18fe7a6553428\" tg-width=\"1200\" tg-height=\"490\" referrerpolicy=\"no-referrer\"></p><p>Virgin Galactic</p><p>Richard Branson's company, which seeks to offer suborbital space flights to consumers, seems like another easy choice for this fund.<b>Virgin Galactic (SPCE)</b>has been around since 2004, but has relatively little to show over the past decade and a half. In late 2018, the company was successful in putting pilots into a suborbital space flight and returning them back to earth, but it's probably safe to say that SpaceX is in the lead having already landed a contract with NASA.</p><p>Still, the company's space development and name recognition make it an obvious inclusion. SPCE is already a top 20 holding in ARKQ.</p><p>The Likely Candidates<img src=\"https://static.tigerbbs.com/490c0f7ea94f6691756f236306005ea5\" tg-width=\"1200\" tg-height=\"412\" referrerpolicy=\"no-referrer\"></p><p>Maxar Technologies</p><p><b>Maxar Technologies (MAXR)</b>describes itself as \"serving commercial and government missions with trusted Earth intelligence and space infrastructure\". It develops satellite and spacecraft systems, robotics, connectivity solutions, space-based communications and platforms. Basically everything someone might need to get up into space. MAXR also has a contract with NASA to develop propulsion systems for the Lunar Gateway project.</p><p>MAXR also happens to be the #1 holding right now in both UFO and ROKT. ARK doesn't own MAXR in its funds currently, but it would undeniably be a perfect fit for a space exploration ETF.</p><p><img src=\"https://static.tigerbbs.com/5fb6136b0b6621fe1aad74fbea6d7dba\" tg-width=\"1200\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p><p>Iridium Communications</p><p><b>Iridium Communications (IRDM)</b>specializes in satellite communications and worldwide voice &amp; data solutions. Iridium has ties to SpaceX having used the company's Falcon 9 rockets to launch dozens of its satellites into space. In 2019, IRDM won a new contract by the Defense Information Systems Agency (DISA) to continue supporting the U.S. Department of Defense Enhanced Mobile Satellite Service (EMSS) gateway.&nbsp;The contract is valued at $54 million over 4.5 years.</p><p>IRDM is already a minor holding in the ARK Innovation ETF (ARKK), but accounts for around 3% of ARKQ. It's also the 2nd largest holding in UFO at more than 6% of assets.</p><p><img src=\"https://static.tigerbbs.com/aa0d2bb9c6874118f82a798f432605be\" tg-width=\"1200\" tg-height=\"416\" referrerpolicy=\"no-referrer\"></p><p>Aerojet Rocketdyne Holdings</p><p>Any company that has been producing rockets and thrusters for space missions over the past several decades is a pretty obvious candidate for a space ETF.<b>Aerojet Rocketdyne Holdings (AJRD)</b>has been doing just that and it was actually the company's rockets that landed the Curiosity spacecraft on the surface of Mars.</p><p>AJRD appears in both UFO and ROKT, but in very different quantities. It accounts for just 0.2% of UFO, but 5.5% of ROKT.</p><p>The Possibilities</p><p>A lot of companies in the aerospace &amp; defense sector could show up in ARKX.<b>Teledyne Technologies (TDY)</b>could very well be included as could<b>HEICO Corporation (HEI)</b>.</p><p>Other names that come to mind that could make the cut are communications specialists&nbsp;<b>Gilat Satellite Networks (GILT)</b>and<b>Loral Space &amp; Communications (LORL)</b>.</p><p>Best of the Rest</p><p>It's hard to get a sense of what ARK will consider exposure to the space exploration industry. Certain ETFs want a company whose sole focus in on a particular theme, while others will include any company that has even ancillary exposure (think Scotts Miracle-Gro being included in the Marijuana ETF (MJ)).</p><p>I'm guessing Cathie Wood will take the former approach. That means big industrial names, such as<b>Lockheed Martin (LMT)</b>,<b>Northrop Grunman (NOC)</b>,<b>Boeing (BA)</b>and<b>Raytheon (RTX)</b>may not show up or be included only in limited quantities.</p><p>I would expect ARKX would ultimately be heavy in tech and communication services names with a possible overweight to industrials depending on how ARK wants to approach portfolio construction.</p>","source":"lsy1610613172068","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>What Might The New ARK Space Exploration ETF Look Like?</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\">\nWhat Might The New ARK Space Exploration ETF Look Like?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-01-27 16:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/etffocus/market-intelligence/ark-space-exploration-etf-look-like><strong>The street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The ARK Space Exploration ETF (ARKX) is on the way. Here's a guess at which stocks might be included.In case you missed it, ARK recently made a hugeannouncementthat it plans on launching theARK Space ...</p>\n\n<a href=\"https://www.thestreet.com/etffocus/market-intelligence/ark-space-exploration-etf-look-like\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.thestreet.com/etffocus/market-intelligence/ark-space-exploration-etf-look-like","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125767984","content_text":"The ARK Space Exploration ETF (ARKX) is on the way. Here's a guess at which stocks might be included.In case you missed it, ARK recently made a hugeannouncementthat it plans on launching theARK Space Exploration ETF (ARKX)at some point in the near future. It will be the 8th fund in the ARK lineup and certainly fits in with the company's overall theme of identifying next-gen disruptive innovation.Like most of the largest ARK ETFs, ARKX will be actively-managed. When a new passively-managed ETF launches, we can often look at its underlying index right away to see what the portfolio looks like and how it has performed in the past. With ARKX being actively-managed, however, we're kind of flying blind until the fund actually launches and ARK posts the fund holdings list for the first time.Still, that doesn't prevent us from trying to forecast what stocks might show up in the fund.There are already two ETFs in existence that focus on space exploration - theProcure Space ETF (UFO)and the SPDR S&P Kensho Final Frontiers ETF (ROKT). Despite the similarity in their target strategies, the two funds have less than a 20% overlap in assets. That means their management styles and how they go about selecting components for the fund are probably pretty different. But, we can take a look at their portfolio composition to help guide us as well.We might get a better idea, though, from looking inward at the composition of existing ARK ETFs. This not gives us insight into some of the company's existing high conviction ideas, but the target strategies are probably similar enough that we'll see some crossover in the portfolios. This could especially be the case with theARK Autonomous Technology & Robotics ETF (ARKQ), which already lists space exploration as one of its target niches.Keep in mind that what I'm doing here is pure speculation. I have no inside information as to what ARKX will look like. I'm simply trying to follow the trail of clues to give us an idea of what the portfolio MIGHT end up looking like.The No BrainersTeslaThis seems like perhaps the most obvious choice of all. ARK CIO Cathie Wood is perhaps the biggestTesla (TSLA)bull out there and three ARK ETFs have 10%+ allocations to Tesla stock already. We know that ARK isn't afraid to take huge positions in this company already.Yes, Tesla is primarily an automaker, but the company's connection to SpaceX makes it a natural fit for ARKX. I think there's a good chance this could ultimately be the fund's top holding.Virgin GalacticRichard Branson's company, which seeks to offer suborbital space flights to consumers, seems like another easy choice for this fund.Virgin Galactic (SPCE)has been around since 2004, but has relatively little to show over the past decade and a half. In late 2018, the company was successful in putting pilots into a suborbital space flight and returning them back to earth, but it's probably safe to say that SpaceX is in the lead having already landed a contract with NASA.Still, the company's space development and name recognition make it an obvious inclusion. SPCE is already a top 20 holding in ARKQ.The Likely CandidatesMaxar TechnologiesMaxar Technologies (MAXR)describes itself as \"serving commercial and government missions with trusted Earth intelligence and space infrastructure\". It develops satellite and spacecraft systems, robotics, connectivity solutions, space-based communications and platforms. Basically everything someone might need to get up into space. MAXR also has a contract with NASA to develop propulsion systems for the Lunar Gateway project.MAXR also happens to be the #1 holding right now in both UFO and ROKT. ARK doesn't own MAXR in its funds currently, but it would undeniably be a perfect fit for a space exploration ETF.Iridium CommunicationsIridium Communications (IRDM)specializes in satellite communications and worldwide voice & data solutions. Iridium has ties to SpaceX having used the company's Falcon 9 rockets to launch dozens of its satellites into space. In 2019, IRDM won a new contract by the Defense Information Systems Agency (DISA) to continue supporting the U.S. Department of Defense Enhanced Mobile Satellite Service (EMSS) gateway. The contract is valued at $54 million over 4.5 years.IRDM is already a minor holding in the ARK Innovation ETF (ARKK), but accounts for around 3% of ARKQ. It's also the 2nd largest holding in UFO at more than 6% of assets.Aerojet Rocketdyne HoldingsAny company that has been producing rockets and thrusters for space missions over the past several decades is a pretty obvious candidate for a space ETF.Aerojet Rocketdyne Holdings (AJRD)has been doing just that and it was actually the company's rockets that landed the Curiosity spacecraft on the surface of Mars.AJRD appears in both UFO and ROKT, but in very different quantities. It accounts for just 0.2% of UFO, but 5.5% of ROKT.The PossibilitiesA lot of companies in the aerospace & defense sector could show up in ARKX.Teledyne Technologies (TDY)could very well be included as couldHEICO Corporation (HEI).Other names that come to mind that could make the cut are communications specialists Gilat Satellite Networks (GILT)andLoral Space & Communications (LORL).Best of the RestIt's hard to get a sense of what ARK will consider exposure to the space exploration industry. Certain ETFs want a company whose sole focus in on a particular theme, while others will include any company that has even ancillary exposure (think Scotts Miracle-Gro being included in the Marijuana ETF (MJ)).I'm guessing Cathie Wood will take the former approach. That means big industrial names, such asLockheed Martin (LMT),Northrop Grunman (NOC),Boeing (BA)andRaytheon (RTX)may not show up or be included only in limited quantities.I would expect ARKX would ultimately be heavy in tech and communication services names with a possible overweight to industrials depending on how ARK wants to approach portfolio construction.","news_type":1},"isVote":1,"tweetType":1,"viewCount":38,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3527667803686145","idStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":147211985,"gmtCreate":1626359109147,"gmtModify":1703758663167,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Is Tecent selling Douyu shares?","listText":"Is Tecent selling Douyu shares?","text":"Is Tecent selling Douyu shares?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/147211985","repostId":"2151231325","repostType":2,"repost":{"id":"2151231325","kind":"news","pubTimestamp":1626278400,"share":"https://ttm.financial/m/news/2151231325?lang=&edition=fundamental","pubTime":"2021-07-15 00:00","market":"us","language":"zh","title":"腾讯对虎牙及斗鱼最新持股占比曝光：持有虎牙57.2%股份","url":"https://stock-news.laohu8.com/highlight/detail?id=2151231325","media":"资本邦","summary":"虎牙和斗鱼已签订了合并终止协议，腾讯持有虎牙57.2%股份，通过子公司Nectarine Investment Limited持有斗鱼37.2%股份。","content":"<html><body><div>\n<p>\r\n\t7月15日，资本邦了解到，据7月14日<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>和<a href=\"https://laohu8.com/S/DOYU\">斗鱼</a>提交的<span>最新报告显示，<a href=\"https://laohu8.com/S/00700\">腾讯</a>通过</span>Linen Investment Limited<span>持有虎牙57.2%的A类普通股，通过子公司Nectarine Investment Limited持有斗鱼37.2%股份。</span>\n</p>\n<p>\r\n\t虎牙和斗鱼近日已宣布，对于此前的合并协议及附属协议，双方已签订了终止协议。\r\n</p>\n<p>\r\n\t2020年10月12日，虎牙和斗鱼曾共同宣布，正式接受大股东腾讯提出的合并邀约，进行战略合并，预计2021年上半年完成。\r\n</p>\n<p>\r\n\t但7月10日，市场监管总局发布声明，根据《反垄断法》第二十八条和《经营者集中审查暂行规定》第三十五条规定，市场监管总局决定依法禁止此项经营者集中。\r\n</p>\n<p>\r\n\t截至7月14日收盘，虎牙股价为15.68美元，跌幅为0.51%;斗鱼股价为4.96美元，跌幅为4.8%。\r\n</p>\n<p>\n<strong>头图来源</strong>：图虫\r\n</p>\n<p>\n<strong>转载声明</strong>：本文为<strong>资本邦</strong>原创稿件，转载请注明出处及作者，否则为侵权。\r\n</p>\n<p>\n<span><strong>风险提示</strong></span> <span><strong>：</strong> 资本邦呈现的所有信息仅作为参考，不构成投资建议，一切投资操作信息不能作为投资依据。投资有风险，入市需谨慎! </span>\n</p>\n<div>\n\t\t\t\t关键词： \n\t\t\t\t虎牙斗鱼腾讯 </div>\n</div></body></html>","source":"chinaipo_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>腾讯对虎牙及斗鱼最新持股占比曝光：持有虎牙57.2%股份</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\">\n腾讯对虎牙及斗鱼最新持股占比曝光：持有虎牙57.2%股份\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-15 00:00 北京时间&nbsp;&nbsp;&nbsp;<a href=https://www.chinaipo.com/news/155958.html><strong>资本邦</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>7月15日，资本邦了解到，据7月14日虎牙和斗鱼提交的最新报告显示，腾讯通过Linen Investment Limited持有虎牙57.2%的A类普通股，通过子公司Nectarine Investment Limited持有斗鱼37.2%股份。\n\n\r\n\t虎牙和斗鱼近日已宣布，对于此前的合并协议及附属协议，双方已签订了终止协议。\r\n\n\r\n\t2020年10月12日，虎牙和斗鱼曾共同宣布，正式接受大...</p>\n\n<a href=\"https://www.chinaipo.com/news/155958.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://www.chinaipo.com/data/upload/2021/0715/11/60efb14454c92_300_200.jpg","relate_stocks":{"DOYU":"斗鱼","00700":"腾讯控股","HUYA":"虎牙","TCEHY":"腾讯控股ADR","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"https://www.chinaipo.com/news/155958.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151231325","content_text":"7月15日，资本邦了解到，据7月14日虎牙和斗鱼提交的最新报告显示，腾讯通过Linen Investment Limited持有虎牙57.2%的A类普通股，通过子公司Nectarine Investment Limited持有斗鱼37.2%股份。\n\n\r\n\t虎牙和斗鱼近日已宣布，对于此前的合并协议及附属协议，双方已签订了终止协议。\r\n\n\r\n\t2020年10月12日，虎牙和斗鱼曾共同宣布，正式接受大股东腾讯提出的合并邀约，进行战略合并，预计2021年上半年完成。\r\n\n\r\n\t但7月10日，市场监管总局发布声明，根据《反垄断法》第二十八条和《经营者集中审查暂行规定》第三十五条规定，市场监管总局决定依法禁止此项经营者集中。\r\n\n\r\n\t截至7月14日收盘，虎牙股价为15.68美元，跌幅为0.51%;斗鱼股价为4.96美元，跌幅为4.8%。\r\n\n\n头图来源：图虫\r\n\n\n转载声明：本文为资本邦原创稿件，转载请注明出处及作者，否则为侵权。\r\n\n\n风险提示 ： 资本邦呈现的所有信息仅作为参考，不构成投资建议，一切投资操作信息不能作为投资依据。投资有风险，入市需谨慎! \n\n\n\t\t\t\t关键词： \n\t\t\t\t虎牙斗鱼腾讯","news_type":1},"isVote":1,"tweetType":1,"viewCount":1529,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3567862348002462","authorId":"3567862348002462","name":"爱在喜欢前","avatar":"https://static.tigerbbs.com/9d02180e32673d7658188041d0d2be42","crmLevel":8,"crmLevelSwitch":0,"idStr":"3567862348002462","authorIdStr":"3567862348002462"},"content":"You will see the announcement if the largest shareholder reduces its holdings","text":"You will see the announcement if the largest shareholder reduces its holdings","html":"You will see the announcement if the largest shareholder reduces its holdings"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348757428,"gmtCreate":1617967416164,"gmtModify":1704705421830,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Which to invest?","listText":"Which to invest?","text":"Which to invest?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/348757428","repostId":"1168300924","repostType":4,"repost":{"id":"1168300924","kind":"news","pubTimestamp":1617955250,"share":"https://ttm.financial/m/news/1168300924?lang=&edition=fundamental","pubTime":"2021-04-09 16:00","market":"us","language":"en","title":"Next Week’s IPO Lineup Is Growing. It Could Be Busy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1168300924","media":"barrons","summary":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Pa","content":"<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.</p><p>Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.</p><p>And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.</p><p>This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.</p><p>Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.</p><p>Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR,&nbsp;Bank of America‘s (BAC) BofA Securities, andCitigroup(C).</p><p>Founded in 2012, Applovin&nbsp;provides software&nbsp;used by mobile-game developers to grow their businesses.&nbsp; Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.</p><p>In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.</p><p>With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.</p><p>TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.</p><p>Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.</p><p>Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.</p><p>TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.</p><p>The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.</p><p>TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management &amp; Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.</p><p>The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.</p>","source":"lsy1601382232898","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>Next Week’s IPO Lineup Is Growing. It Could Be Busy.</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\">\nNext Week’s IPO Lineup Is Growing. It Could Be Busy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six....</p>\n\n<a href=\"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168300924","content_text":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR, Bank of America‘s (BAC) BofA Securities, andCitigroup(C).Founded in 2012, Applovin provides software used by mobile-game developers to grow their businesses.  Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management & Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":732,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575040910386797","authorId":"3575040910386797","name":"trollololol","avatar":"https://static.tigerbbs.com/bb3709f9470a5163c6c7031ab692e8c9","crmLevel":4,"crmLevelSwitch":0,"idStr":"3575040910386797","authorIdStr":"3575040910386797"},"content":"like and reply please","text":"like and reply please","html":"like and reply please"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379593640,"gmtCreate":1618757154580,"gmtModify":1704714628190,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Game on!","listText":"Game on!","text":"Game on!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/379593640","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://ttm.financial/m/news/1175692875?lang=&edition=fundamental","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p>How to trade this?</p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><blockquote>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b></blockquote><p>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>$544 Billion In Options Expire Today: Here's What Will Move</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\">\n$544 Billion In Options Expire Today: Here's What Will Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":192174421,"gmtCreate":1621170881563,"gmtModify":1704353583995,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Free Cash -&gt; Inflation.. No Free Cash -&gt; Less Inflation -&gt;&nbsp;Validate higher Stock Valuation.","listText":"Free Cash -&gt; Inflation.. No Free Cash -&gt; Less Inflation -&gt;&nbsp;Validate higher Stock Valuation.","text":"Free Cash -> Inflation.. No Free Cash -> Less Inflation -> Validate higher Stock Valuation.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/192174421","repostId":"1112087830","repostType":4,"repost":{"id":"1112087830","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620999082,"share":"https://ttm.financial/m/news/1112087830?lang=&edition=fundamental","pubTime":"2021-05-14 21:31","market":"us","language":"en","title":"U.S. Stocks Open Higher Friday After Retail Sales Fall Short","url":"https://stock-news.laohu8.com/highlight/detail?id=1112087830","media":"Tiger Newspress","summary":"(May 14) U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big ","content":"<p>(May 14)&nbsp;U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big losses.</p><p>The Dow Jones Industrial Average climbed 220 points. The S&amp;P 500 gained 0.8%. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 1%.</p><p>Stocks advanced even after data showed consumer purchases&nbsp;slowed down last month. Advance retail sales was flat for the April, the Commerce Department reported Thursday. That compared to the Dow Jones estimate of a 0.8% gain and a 9.8% surge in March.</p><p>The major averages still are on track for hefty losses for the week as inflation fears hit sentiment. The Dow is down 2.2% for the week, while the S&amp;P has shed 2.8%. Tech stocks have been hit especially hard, pulling the Nasdaq down 4.6% for the week.</p><p>Tech stocks were the biggest outperformers Friday. Tesla gained 2.5%. Twitter was up 2.2%. Facebook, Apple, Amazon, Netflix and Alphabet were all trading in the green.</p><p>Disney shares were bucking the trend, falling about 3%after postingweaker-than-expected revenue and streaming subscribers.</p><p>The Centers for Disease Control and Preventioneased guidelines on Thursday, saying that in most settings fully vaccinated people don't need to wear masks indoors or outdoors.</p><p>Stocks most exposed to the ongoing recovery rebounded Thursday on the heels of the announcement, with theNYSE Arca Airline Indexfinishing the day nearly 2% higher.</p><p>United Airlines and American Airlines were higher again in premarket trading Friday, along with Boeing.</p><p>\"Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates,\" Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. \"But while we expect inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an opportunity to build exposure to structural winners.\"</p><p>The market's volatility this week comes as economic data points to inflation. The Consumer Price Indexjumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.</p><p>Still, earnings season has been stronger-than-expected and some believe this bull market has more room to run and investors should take advantage of any dips.</p><p>\"The corporate turnaround is strong enough to keep markets rising, even as bond yields increase in anticipation of central bank tightening,\" Robert Buckland, equity strategist at Citi, said in a note. \"So buy any short term dips, as we may be seeing now. There is a time to turn more cautious but that may be next year, not this.\"</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title> U.S. Stocks Open Higher Friday After Retail Sales Fall Short</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\">\n U.S. Stocks Open Higher Friday After Retail Sales Fall Short\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\">2021-05-14 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(May 14)&nbsp;U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big losses.</p><p>The Dow Jones Industrial Average climbed 220 points. The S&amp;P 500 gained 0.8%. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 1%.</p><p>Stocks advanced even after data showed consumer purchases&nbsp;slowed down last month. Advance retail sales was flat for the April, the Commerce Department reported Thursday. That compared to the Dow Jones estimate of a 0.8% gain and a 9.8% surge in March.</p><p>The major averages still are on track for hefty losses for the week as inflation fears hit sentiment. The Dow is down 2.2% for the week, while the S&amp;P has shed 2.8%. Tech stocks have been hit especially hard, pulling the Nasdaq down 4.6% for the week.</p><p>Tech stocks were the biggest outperformers Friday. Tesla gained 2.5%. Twitter was up 2.2%. Facebook, Apple, Amazon, Netflix and Alphabet were all trading in the green.</p><p>Disney shares were bucking the trend, falling about 3%after postingweaker-than-expected revenue and streaming subscribers.</p><p>The Centers for Disease Control and Preventioneased guidelines on Thursday, saying that in most settings fully vaccinated people don't need to wear masks indoors or outdoors.</p><p>Stocks most exposed to the ongoing recovery rebounded Thursday on the heels of the announcement, with theNYSE Arca Airline Indexfinishing the day nearly 2% higher.</p><p>United Airlines and American Airlines were higher again in premarket trading Friday, along with Boeing.</p><p>\"Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates,\" Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. \"But while we expect inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an opportunity to build exposure to structural winners.\"</p><p>The market's volatility this week comes as economic data points to inflation. The Consumer Price Indexjumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.</p><p>Still, earnings season has been stronger-than-expected and some believe this bull market has more room to run and investors should take advantage of any dips.</p><p>\"The corporate turnaround is strong enough to keep markets rising, even as bond yields increase in anticipation of central bank tightening,\" Robert Buckland, equity strategist at Citi, said in a note. \"So buy any short term dips, as we may be seeing now. There is a time to turn more cautious but that may be next year, not this.\"</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112087830","content_text":"(May 14) U.S. stocks jumped on Friday, rebounding for a second day after starting the week with big losses.The Dow Jones Industrial Average climbed 220 points. The S&P 500 gained 0.8%. The tech-heavy Nasdaq Composite, the relative underperformer for the week, snapped back by 1%.Stocks advanced even after data showed consumer purchases slowed down last month. Advance retail sales was flat for the April, the Commerce Department reported Thursday. That compared to the Dow Jones estimate of a 0.8% gain and a 9.8% surge in March.The major averages still are on track for hefty losses for the week as inflation fears hit sentiment. The Dow is down 2.2% for the week, while the S&P has shed 2.8%. Tech stocks have been hit especially hard, pulling the Nasdaq down 4.6% for the week.Tech stocks were the biggest outperformers Friday. Tesla gained 2.5%. Twitter was up 2.2%. Facebook, Apple, Amazon, Netflix and Alphabet were all trading in the green.Disney shares were bucking the trend, falling about 3%after postingweaker-than-expected revenue and streaming subscribers.The Centers for Disease Control and Preventioneased guidelines on Thursday, saying that in most settings fully vaccinated people don't need to wear masks indoors or outdoors.Stocks most exposed to the ongoing recovery rebounded Thursday on the heels of the announcement, with theNYSE Arca Airline Indexfinishing the day nearly 2% higher.United Airlines and American Airlines were higher again in premarket trading Friday, along with Boeing.\"Higher inflation is likely to remain in the spotlight as the post-pandemic recovery accelerates,\" Mark Haefele, chief investment officer at UBS Global Wealth Management, said in a note. \"But while we expect inflation fears to generate bouts of volatility, and we continue to position for reflation, we also see such market swings as an opportunity to build exposure to structural winners.\"The market's volatility this week comes as economic data points to inflation. The Consumer Price Indexjumped 4.2% from a year earlier in April, which was the fastest rate since 2008. This has sparked fears that the Federal Reserve could be forced to dial back its accommodative monetary policy.Still, earnings season has been stronger-than-expected and some believe this bull market has more room to run and investors should take advantage of any dips.\"The corporate turnaround is strong enough to keep markets rising, even as bond yields increase in anticipation of central bank tightening,\" Robert Buckland, equity strategist at Citi, said in a note. \"So buy any short term dips, as we may be seeing now. There is a time to turn more cautious but that may be next year, not this.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198742044,"gmtCreate":1620995509188,"gmtModify":1704351678145,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Cybersecurity is critical especially in today environment.","listText":"Cybersecurity is critical especially in today environment.","text":"Cybersecurity is critical especially in today environment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/198742044","repostId":"1129126046","repostType":2,"repost":{"id":"1129126046","kind":"news","pubTimestamp":1620964164,"share":"https://ttm.financial/m/news/1129126046?lang=&edition=fundamental","pubTime":"2021-05-14 11:49","market":"us","language":"en","title":"A Big Opportunity In A Big Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1129126046","media":"seekingalpha","summary":"SummaryThe global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be","content":"<p><b>Summary</b></p><ul><li>The global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be valued at $366.10 billion in 2028 at a CAGR of 12%.</li><li>Throughout 2020, malware and ransomware attacks increased by more than a third (e.g., Colonial Pipeline is the latest example of a ransomware attack).</li><li>The estimated intrinsic value for the company is $37.15 (19% potential upside), while the pricing value is $52.8 (70% potential upside).</li></ul><p>Editor's note: Seeking Alpha is proud to welcome Deniel Selivanov as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium.</p><p><b>Overview</b></p><p>Telos (TLS) is a cybersecurity play, which has exposure on both sides of the market, government and commercial. With the last two big cyberattacks which involved U.S. companies, namely the SolarWinds attack and Colonial Pipeline attack, we can clearly see how cybersecurity will be one of the future big trends that, if taken at the right time, offers big opportunity with big gains.</p><p>Telos stock has rallied 42.67% since the IPO in 2020, outperforming the 15.3% rise in the S&amp;P 500 over the same time period.</p><p>I believe that the 25% correction in Telos stock from its 52-Week high offers a good opportunity to take a position in this cybersecurity company.</p><p><b>Long Term: Sector Outlook Overview</b></p><p>The pandemic made the digitalization process accelerate at a very fast pace and, if from one side the digitalization process brings a lot of benefits, it also brings big risks with it, namely the cyber-risk. In 2020 many companies were \"forced\" to become more digital and for time-constraints reasons everything was done without taking into account possible mistakes along the road. These mistakes, however, didn't pass unnoticed.</p><p>The cyber-attacks in 2020 increased at the same pace as the digitalization transformation, especially malware and ransomware type of attacks. But why should we worry about cyber risk? A cyber-attack could lead to business interruption events: for instance, the last one involved the Colonial Pipeline, which represent not only a monetary cost for the company (whichincreased by 72%in the last 5 years) but also a reputational one.</p><p>Thelatest reportpublished by Allianz (the Allianz Risk Barometer report 2021) has found that the most important global and business risks for 2021 are: business interruption (top 1), pandemic outbreak (top 2), and cyber incidents (top 3). If we consider the business interruption as a consequence of a cyber-attack, we can clearly visualize how the cyber threat is the most important risk for businesses, not only in 2021 but especially in the years to come.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a6e3117e4d5051a7e658c17f734e107e\" tg-width=\"640\" tg-height=\"586\" referrerpolicy=\"no-referrer\"><span>Source:Agcs.allianz.com</span></p><p>Among different kinds of cyber-attacks, malware and ransomware are those which are spreading faster than others. Throughout 2020, malware and ransomware attacks increased by more than a third, (e.g., Colonial Pipeline is an example of ransomware attack). Once hit by such attacks, companies tend to pay what a ransom attacker demand; however, this is only the direct cost associated with the attack and we should not forget about all the indirect costs associated with it, which are much bigger.</p><p>Emsisoft, a company specialized in anti-malware solutions, estimated that in 2020 the ransom demand (i.e. the direct cost) representedonly 6%of the total cost in which companies incurred to deal with the cyber-attack. Finally, we must take into account that companies' willingness to pay attackers increases the number and the complexity of cyber-attacks.</p><p>In thelatest research(the Market Research Report - 2021), conducted by Fortune Business Insights, the global cyber security market size for 2020 is estimated to be around $153.16 billion and it is expected to be worth $366.10 billion in 2028 (CAGR of 12%). However, I believe that the market can be much bigger, driven by the fact that cybersecurity will become a critical element, especially in a world in which everything tends to be digital. Nonetheless, as stated by the company, Telos sees a total addressable market at$80 billion.</p><p><b>Company Products Overview</b></p><p>Telos is a cybersecurity company that offers software-based security solutions to U.S. federal government (e.g., Department of Defence, Central Intelligence Agency, etc.) and enterprises (e.g., Amazon (AMZN), Citigroup (CITI), Microsoft(MSFT), etc.). The company was founded in 1969 and its mission is to focus on the needs of its customers. In fact, Telos puts always customer needs at first place, which means offering solutions or improvements required by its clients. Telos's ability to be a customer-centric organization can be clearly seen through the numbers, since 85% of Telos revenues are recurring (and approximately 50% of total revenue comes from segments with no or limited competition).</p><p>The company offers different solution, among others:</p><ol><li><b>Telos Xacta:</b>is a solution that embodies two main functions: first, to continuously manage the cyber risk (security assessment for instance); and second, to help organizations manage security compliance. As stated by the company, the main advantages coming from using Telos Xacta are:<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c4d0337daeb5f6d1476c5006b87b257\" tg-width=\"640\" tg-height=\"287\" referrerpolicy=\"no-referrer\"><span>Source:Telos.comThe product is very appreciated by its customer since it is used not only by the U.S. federal government, but also by big clouds providers, such as AWS and Microsoft Azure.</span></p></li><li><b>Telos Ghost:</b>is a solution that we could see as VPN 2.0, summarized by the company as:<i>\"you can't exploit what you can't see\".</i>Nowadays, more and more people are using VPN to try to protect themselves against possible threats or just because they want to remain anonymous in the Internet. However, this is not enough, especially if you are a manager of a big company and you exchange business critical information with others. This is where Telos Ghost comes in your help: it creates a fully secured network, where all the data are encrypted, user information (e.g., location and identity) are hidden, and the company's network is protected against any possible cyber threat. As stated by the company, the main advantages coming from using Telos Xacta are:Source:<i>Telos.com</i></li><li><b>Telos ID:</b>is an identity management solution, which uses technologies, such as fuse biometrics, credentials, etc., to make sure that only specific persons can have access to sensitive information. It is a dominant solution among U.S. federal agencies, but it is also gaining popularity among enterprises.</li></ol><p><b>Discounted Cash Flow Model</b></p><p>Let's now perform a DCF analysis. Fundamentally, the company has big opportunities to offer, even if not fully yet. Let's start by looking at the cost structure.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ec0b4e8cab77dfeca9a4ebca5df711f2\" tg-width=\"640\" tg-height=\"345\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>From the figure above we can clearly see how services represent the biggest portion of costs, namely 91% for the last year (versus 5 year average of 87%), and are those responsible for keeping the operating margins relatively low. On the other side, as we can imagine, the biggest portion of revenues comes from services, namely 89.6%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/98cdbc7405967c885a87824acff198e0\" tg-width=\"640\" tg-height=\"341\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>In particular, it is worth noting the changing growth trajectory which started in 2017 as a direct response to new business goals definition. In 2017, Telos started to invest into new products and solutions to expand its addressable market. These revenues growth dynamics are expected to keep increasing in line with its accelerating partnership programs and the strong brand name that company has in the industry.</p><p>Before starting doing any projection, I retrieved 5 years of historical data to better understand how the company works. I present below the historical data and the projections I made for the years to come:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d814ffc0af7d3802cda7521d9b7321a2\" tg-width=\"640\" tg-height=\"427\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>At first sight, numbers don’t seem to be that promising, but we should not jump at that conclusion too fast and we should instead think out of the box. Until 2017, Telos used to work more with the government, but since 2018 its strategy has changed. In fact, as stated by the company, Telos is now focusing on leveraging its security solutions by expanding their presence in commercial markets; they do this by developing new solutions and strengthening the current ones.</p><p>In particular, the company is focusing on improving its margins and revenues by expanding its partner program to speed up the scaling in the commercial and international markets. In fact, this is what they are doing: as right now, both Telos Ghost and Xacta are available through various AWS and Microsoft Azure marketplace. Now, in light of this, and considering also the willingness of president Joe Biden to put more efforts and money into cybersecurity projects, I allow the company to grow at a CAGR of 33% in the years 2 to 5 and then I steadily decrease the growth rate to 1.58% in year 10. Why 33%? Well, it's purely subjective. I look at the company revenue growth in recent years, the company revenues relative to the overall market size and to larger players in the sector.</p><p>Now, for what concern margins, I believe that they can be improved, so I increase them to what I consider reasonable levels given the company business: 52% (versus current 34.69%) for the gross margin and 19.5% (versus current 0.69%) for the operating margin. To determine the company target margins, I look at the industry averages: for instance, the U.S. industry average margins are 23.30% and the global ones 19.31%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/433b6939a7b8156a6b622f453033f8bf\" tg-width=\"589\" tg-height=\"184\" referrerpolicy=\"no-referrer\"><span>Source:Pages.stern.nyu.edu/~adamodar/</span></p><p>A number that is worth to be noted is the sales to capital ratio (i.e. growth efficiency), which tells us how much we must reinvest to keep our business growing; the higher this number the more efficiently the company is growing. In doing my projections, I decrease this number to 0.95 in year 10 (i.e. industry average).</p><p>Finally, let's look at the market inputs we need to use in the discounted cash flow model.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8935dcbda0d8246faca532f5e8c18cf8\" tg-width=\"622\" tg-height=\"157\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>The implied equity risk premium was computed following the country of incorporation approach, in this case looking only at the U.S. market. The implied equity risk premium at the time of the computation was of 4.02%, well below the historical 3 years median of 5.68%.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33334f3b9b8fc28838136eef10d07e92\" tg-width=\"640\" tg-height=\"393\" referrerpolicy=\"no-referrer\"><span>Source:Pages.stern.nyu.edu/~adamodar/</span></p><p>The cost of capital computations are displayed in the figure below:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/be84b5939fcc6c091f8ad8b44872560e\" tg-width=\"640\" tg-height=\"84\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p>Now, taking all the projections and discounting the cash flows, I obtain a value per share of $37.15 (19% potential upside); alternatively, if you prefer pricing the company instead of discounting the future cash flows, I come up with a value of $52.8 (70% potential upside). The pricing value is obtained by taking the expected EPS in 2025 of 1.76 and multiplying it for a P/E of 30. The P/E of 30 is obtained by looking at the current Palantir (PLTR) P/E value of 125 and bringing it down to what I believe is a more reasonable value.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c2f928594eb8d7e4f3427fbf22ba1533\" tg-width=\"640\" tg-height=\"440\" referrerpolicy=\"no-referrer\"><span>Source:Author’s Estimates using data from latest 10K report</span></p><p><b>Catalysts</b></p><p>At this point, you may be asking yourself: What kind of catalysts may make the value converge to the “fair” price? I would like to underline some possible catalysts, which are sector and company related.</p><ul><li>The first big catalyst I see comes from the companies themselves. By understanding the fact that the cyber threat is a real danger, which harms the business not only economically but also reputationally, businesses will be willing to do everything is in their power to protect themselves against such risks. Thus, they will invest heavily in cyberdefense.</li><li>The second catalyst comes from the digital transformation we are living now, which will be even bigger in years to come. As we know, technology is bad and good at the same time, where the former comes from cyber-attacks.</li><li>The third catalyst comes from the governments increasing spending in cybersecurity related projects, which is driven by two reasons: the willingness to protect critical information and the willingness to become leaders in the field.<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21cad07a429fd8674ad8cfab24a091b6\" tg-width=\"640\" tg-height=\"498\" referrerpolicy=\"no-referrer\"><span>Source:Belfercenter.org</span></p></li></ul><p><b>Technical Analysis</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5eb1ef868b278a8c94a56a2ddb177563\" tg-width=\"640\" tg-height=\"303\" referrerpolicy=\"no-referrer\"><span>Source:TradingView.com</span></p><p>For what concerns technical analysis, the formation I see is a “Flags, High and Tigh” with the odds in the stock’s favor. Let me explain why. First, this kind of formation is the one which I mostly love, since it offers the best performance: the average rise after the breakout is of 69% in a bull market and of 40% in a bear market; as right now, we are in a bull market according to the economic business cycle indicators. Then, if we look at the volume, we can see a falling volume structure, which makes the breakout performance even stronger (71% vs 52% for rising volume trend) and, given the current price levels, I see a risk-reward ratio of 2.9 over a period of 6 months to 1 year.</p><p><b>Final Thoughts</b></p><p>The digitalization process brings many benefits with it, but it also brings many risks. In a world in which enterprises are becoming more and more digital, cybersecurity represents a key piece to complete the puzzle. Not many have understood it yet, but when they will do, the trend will be already running at a fast pace and joining the train will offer a much lower risk-reward ratio.</p><p>Even if Telos is not a newly founded company, it knows well the industry in which it operates and it is highly adaptable at the evolving environment. Going forward, the key metric to look at is its ability to expand in the commercial market, both domestic and international.</p><p>Currently, it shows buying signals on both the fundamental and technical side and this should be taken into account. Especially for short-term investors (i.e. investors with a time horizon less than 1 year), I see an opportunity to get a return in the range of 40-60% over the next 6 to 12 months.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>A Big Opportunity In A Big Market</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\">\nA Big Opportunity In A Big Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-14 11:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4428510-telos-a-big-opportunity-in-a-big-market><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryThe global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be valued at $366.10 billion in 2028 at a CAGR of 12%.Throughout 2020, malware and ransomware attacks ...</p>\n\n<a href=\"https://seekingalpha.com/article/4428510-telos-a-big-opportunity-in-a-big-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TLS":"Telos Corporation"},"source_url":"https://seekingalpha.com/article/4428510-telos-a-big-opportunity-in-a-big-market","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1129126046","content_text":"SummaryThe global cybersecurity market is valued at $153.16 billion in 2020 and it is expected to be valued at $366.10 billion in 2028 at a CAGR of 12%.Throughout 2020, malware and ransomware attacks increased by more than a third (e.g., Colonial Pipeline is the latest example of a ransomware attack).The estimated intrinsic value for the company is $37.15 (19% potential upside), while the pricing value is $52.8 (70% potential upside).Editor's note: Seeking Alpha is proud to welcome Deniel Selivanov as a new contributor. It's easy to become a Seeking Alpha contributor and earn money for your best investment ideas. Active contributors also get free access to SA Premium.OverviewTelos (TLS) is a cybersecurity play, which has exposure on both sides of the market, government and commercial. With the last two big cyberattacks which involved U.S. companies, namely the SolarWinds attack and Colonial Pipeline attack, we can clearly see how cybersecurity will be one of the future big trends that, if taken at the right time, offers big opportunity with big gains.Telos stock has rallied 42.67% since the IPO in 2020, outperforming the 15.3% rise in the S&P 500 over the same time period.I believe that the 25% correction in Telos stock from its 52-Week high offers a good opportunity to take a position in this cybersecurity company.Long Term: Sector Outlook OverviewThe pandemic made the digitalization process accelerate at a very fast pace and, if from one side the digitalization process brings a lot of benefits, it also brings big risks with it, namely the cyber-risk. In 2020 many companies were \"forced\" to become more digital and for time-constraints reasons everything was done without taking into account possible mistakes along the road. These mistakes, however, didn't pass unnoticed.The cyber-attacks in 2020 increased at the same pace as the digitalization transformation, especially malware and ransomware type of attacks. But why should we worry about cyber risk? A cyber-attack could lead to business interruption events: for instance, the last one involved the Colonial Pipeline, which represent not only a monetary cost for the company (whichincreased by 72%in the last 5 years) but also a reputational one.Thelatest reportpublished by Allianz (the Allianz Risk Barometer report 2021) has found that the most important global and business risks for 2021 are: business interruption (top 1), pandemic outbreak (top 2), and cyber incidents (top 3). If we consider the business interruption as a consequence of a cyber-attack, we can clearly visualize how the cyber threat is the most important risk for businesses, not only in 2021 but especially in the years to come.Source:Agcs.allianz.comAmong different kinds of cyber-attacks, malware and ransomware are those which are spreading faster than others. Throughout 2020, malware and ransomware attacks increased by more than a third, (e.g., Colonial Pipeline is an example of ransomware attack). Once hit by such attacks, companies tend to pay what a ransom attacker demand; however, this is only the direct cost associated with the attack and we should not forget about all the indirect costs associated with it, which are much bigger.Emsisoft, a company specialized in anti-malware solutions, estimated that in 2020 the ransom demand (i.e. the direct cost) representedonly 6%of the total cost in which companies incurred to deal with the cyber-attack. Finally, we must take into account that companies' willingness to pay attackers increases the number and the complexity of cyber-attacks.In thelatest research(the Market Research Report - 2021), conducted by Fortune Business Insights, the global cyber security market size for 2020 is estimated to be around $153.16 billion and it is expected to be worth $366.10 billion in 2028 (CAGR of 12%). However, I believe that the market can be much bigger, driven by the fact that cybersecurity will become a critical element, especially in a world in which everything tends to be digital. Nonetheless, as stated by the company, Telos sees a total addressable market at$80 billion.Company Products OverviewTelos is a cybersecurity company that offers software-based security solutions to U.S. federal government (e.g., Department of Defence, Central Intelligence Agency, etc.) and enterprises (e.g., Amazon (AMZN), Citigroup (CITI), Microsoft(MSFT), etc.). The company was founded in 1969 and its mission is to focus on the needs of its customers. In fact, Telos puts always customer needs at first place, which means offering solutions or improvements required by its clients. Telos's ability to be a customer-centric organization can be clearly seen through the numbers, since 85% of Telos revenues are recurring (and approximately 50% of total revenue comes from segments with no or limited competition).The company offers different solution, among others:Telos Xacta:is a solution that embodies two main functions: first, to continuously manage the cyber risk (security assessment for instance); and second, to help organizations manage security compliance. As stated by the company, the main advantages coming from using Telos Xacta are:Source:Telos.comThe product is very appreciated by its customer since it is used not only by the U.S. federal government, but also by big clouds providers, such as AWS and Microsoft Azure.Telos Ghost:is a solution that we could see as VPN 2.0, summarized by the company as:\"you can't exploit what you can't see\".Nowadays, more and more people are using VPN to try to protect themselves against possible threats or just because they want to remain anonymous in the Internet. However, this is not enough, especially if you are a manager of a big company and you exchange business critical information with others. This is where Telos Ghost comes in your help: it creates a fully secured network, where all the data are encrypted, user information (e.g., location and identity) are hidden, and the company's network is protected against any possible cyber threat. As stated by the company, the main advantages coming from using Telos Xacta are:Source:Telos.comTelos ID:is an identity management solution, which uses technologies, such as fuse biometrics, credentials, etc., to make sure that only specific persons can have access to sensitive information. It is a dominant solution among U.S. federal agencies, but it is also gaining popularity among enterprises.Discounted Cash Flow ModelLet's now perform a DCF analysis. Fundamentally, the company has big opportunities to offer, even if not fully yet. Let's start by looking at the cost structure.Source:Author’s Estimates using data from latest 10K reportFrom the figure above we can clearly see how services represent the biggest portion of costs, namely 91% for the last year (versus 5 year average of 87%), and are those responsible for keeping the operating margins relatively low. On the other side, as we can imagine, the biggest portion of revenues comes from services, namely 89.6%.Source:Author’s Estimates using data from latest 10K reportIn particular, it is worth noting the changing growth trajectory which started in 2017 as a direct response to new business goals definition. In 2017, Telos started to invest into new products and solutions to expand its addressable market. These revenues growth dynamics are expected to keep increasing in line with its accelerating partnership programs and the strong brand name that company has in the industry.Before starting doing any projection, I retrieved 5 years of historical data to better understand how the company works. I present below the historical data and the projections I made for the years to come:Source:Author’s Estimates using data from latest 10K reportAt first sight, numbers don’t seem to be that promising, but we should not jump at that conclusion too fast and we should instead think out of the box. Until 2017, Telos used to work more with the government, but since 2018 its strategy has changed. In fact, as stated by the company, Telos is now focusing on leveraging its security solutions by expanding their presence in commercial markets; they do this by developing new solutions and strengthening the current ones.In particular, the company is focusing on improving its margins and revenues by expanding its partner program to speed up the scaling in the commercial and international markets. In fact, this is what they are doing: as right now, both Telos Ghost and Xacta are available through various AWS and Microsoft Azure marketplace. Now, in light of this, and considering also the willingness of president Joe Biden to put more efforts and money into cybersecurity projects, I allow the company to grow at a CAGR of 33% in the years 2 to 5 and then I steadily decrease the growth rate to 1.58% in year 10. Why 33%? Well, it's purely subjective. I look at the company revenue growth in recent years, the company revenues relative to the overall market size and to larger players in the sector.Now, for what concern margins, I believe that they can be improved, so I increase them to what I consider reasonable levels given the company business: 52% (versus current 34.69%) for the gross margin and 19.5% (versus current 0.69%) for the operating margin. To determine the company target margins, I look at the industry averages: for instance, the U.S. industry average margins are 23.30% and the global ones 19.31%.Source:Pages.stern.nyu.edu/~adamodar/A number that is worth to be noted is the sales to capital ratio (i.e. growth efficiency), which tells us how much we must reinvest to keep our business growing; the higher this number the more efficiently the company is growing. In doing my projections, I decrease this number to 0.95 in year 10 (i.e. industry average).Finally, let's look at the market inputs we need to use in the discounted cash flow model.Source:Author’s Estimates using data from latest 10K reportThe implied equity risk premium was computed following the country of incorporation approach, in this case looking only at the U.S. market. The implied equity risk premium at the time of the computation was of 4.02%, well below the historical 3 years median of 5.68%.Source:Pages.stern.nyu.edu/~adamodar/The cost of capital computations are displayed in the figure below:Source:Author’s Estimates using data from latest 10K reportNow, taking all the projections and discounting the cash flows, I obtain a value per share of $37.15 (19% potential upside); alternatively, if you prefer pricing the company instead of discounting the future cash flows, I come up with a value of $52.8 (70% potential upside). The pricing value is obtained by taking the expected EPS in 2025 of 1.76 and multiplying it for a P/E of 30. The P/E of 30 is obtained by looking at the current Palantir (PLTR) P/E value of 125 and bringing it down to what I believe is a more reasonable value.Source:Author’s Estimates using data from latest 10K reportCatalystsAt this point, you may be asking yourself: What kind of catalysts may make the value converge to the “fair” price? I would like to underline some possible catalysts, which are sector and company related.The first big catalyst I see comes from the companies themselves. By understanding the fact that the cyber threat is a real danger, which harms the business not only economically but also reputationally, businesses will be willing to do everything is in their power to protect themselves against such risks. Thus, they will invest heavily in cyberdefense.The second catalyst comes from the digital transformation we are living now, which will be even bigger in years to come. As we know, technology is bad and good at the same time, where the former comes from cyber-attacks.The third catalyst comes from the governments increasing spending in cybersecurity related projects, which is driven by two reasons: the willingness to protect critical information and the willingness to become leaders in the field.Source:Belfercenter.orgTechnical AnalysisSource:TradingView.comFor what concerns technical analysis, the formation I see is a “Flags, High and Tigh” with the odds in the stock’s favor. Let me explain why. First, this kind of formation is the one which I mostly love, since it offers the best performance: the average rise after the breakout is of 69% in a bull market and of 40% in a bear market; as right now, we are in a bull market according to the economic business cycle indicators. Then, if we look at the volume, we can see a falling volume structure, which makes the breakout performance even stronger (71% vs 52% for rising volume trend) and, given the current price levels, I see a risk-reward ratio of 2.9 over a period of 6 months to 1 year.Final ThoughtsThe digitalization process brings many benefits with it, but it also brings many risks. In a world in which enterprises are becoming more and more digital, cybersecurity represents a key piece to complete the puzzle. Not many have understood it yet, but when they will do, the trend will be already running at a fast pace and joining the train will offer a much lower risk-reward ratio.Even if Telos is not a newly founded company, it knows well the industry in which it operates and it is highly adaptable at the evolving environment. Going forward, the key metric to look at is its ability to expand in the commercial market, both domestic and international.Currently, it shows buying signals on both the fundamental and technical side and this should be taken into account. Especially for short-term investors (i.e. investors with a time horizon less than 1 year), I see an opportunity to get a return in the range of 40-60% over the next 6 to 12 months.","news_type":1},"isVote":1,"tweetType":1,"viewCount":568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138613624,"gmtCreate":1621933389468,"gmtModify":1704364680143,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Well Done the #TIGR Team!","listText":"Well Done the #TIGR Team!","text":"Well Done the #TIGR Team!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138613624","repostId":"1180636694","repostType":2,"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":311030472,"gmtCreate":1611756487196,"gmtModify":1704862866395,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Far far away.","listText":"Far far away.","text":"Far far away.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/311030472","repostId":"1125767984","repostType":4,"isVote":1,"tweetType":1,"viewCount":38,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3527667803686145","authorId":"3527667803686145","name":"社区成长助手","avatar":"https://static.tigerbbs.com/2b7c7106b5c0c8b0037faa67439d898f","crmLevel":1,"crmLevelSwitch":0,"idStr":"3527667803686145","authorIdStr":"3527667803686145"},"content":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","text":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation","html":"Finally, when you first post [compare heart] [compare heart] post, you can get more exposure by related stocks or related topics. If you want to create high-quality articles, please checkGuidelines for Tiger Community Creation"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811512194,"gmtCreate":1630331855118,"gmtModify":1676530271976,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Does TIGR has much exposure to ADR? If yes, thentheir earnings could be affected?","listText":"Does TIGR has much exposure to ADR? If yes, thentheir earnings could be affected?","text":"Does TIGR has much exposure to ADR? If yes, thentheir earnings could be affected?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/811512194","repostId":"1157282403","repostType":2,"repost":{"id":"1157282403","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1630045654,"share":"https://ttm.financial/m/news/1157282403?lang=&edition=fundamental","pubTime":"2021-08-27 14:27","market":"us","language":"zh","title":"老虎证券将于9月10日美股盘前公布其第二季度财报","url":"https://stock-news.laohu8.com/highlight/detail?id=1157282403","media":"老虎资讯综合","summary":"2021年8月27日（GLOBE NEWSWIRE）--老虎证券（纳斯达克：TIGR）今天宣布，将在2021年9月10日美股盘前公布其截至2021年6月30日的第二季度财务业绩。老虎证券管理层将于美东","content":"<p>2021年8月27日（GLOBE NEWSWIRE）--老虎证券（纳斯达克：TIGR）今天宣布，将在2021年9月10日美股盘前公布其截至2021年6月30日的第二季度财务业绩。</p><p>老虎证券管理层将于美东时间2021年9月10日上午8:00（北京/香港时间2021年9月10日晚上8:00）召开业绩电话会议。</p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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revenue?","listText":"<a href=\"https://laohu8.com/S/CRC\">$California Resources(CRC)$</a>Anyone knows why in2020, their&nbsp;net income &gt; revenue?","text":"$California Resources(CRC)$Anyone knows why in2020, their net income > revenue?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/863299718","isVote":1,"tweetType":1,"viewCount":234,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148999654,"gmtCreate":1625909982578,"gmtModify":1703750821954,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"No difference to the business fundamentally as long as Tecent has a stake in it. It’s only administratively more efficient.","listText":"No difference to the business fundamentally as long as Tecent has a stake in it. It’s only administratively more efficient.","text":"No difference to the business fundamentally as long as Tecent has a stake in it. It’s only administratively more efficient.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/148999654","repostId":"2150414309","repostType":2,"repost":{"id":"2150414309","kind":"news","pubTimestamp":1625904600,"share":"https://ttm.financial/m/news/2150414309?lang=&edition=fundamental","pubTime":"2021-07-10 16:10","market":"us","language":"zh","title":"#市场监管总局禁止虎牙斗鱼合并#上热搜 网友：必须打击资本的无限扩张和垄断","url":"https://stock-news.laohu8.com/highlight/detail?id=2150414309","media":"新浪财经","summary":"#市场监管总局禁止虎牙斗鱼合并#登上微博热搜，引发网友热议。　　市场监管总局2021年1月4日对虎牙与斗鱼合并案，依法进行经营者集中反垄断审查。腾讯在上游网络游戏运营服务市场份额超过40%，排名第一；虎牙和斗鱼在下游游戏直播市场份额分别超过40%和30%，排名第一、第二，合计超过70%。　　对此，有网友评论称， 必须打击资本的无限扩张和垄断！　　对于市场监管总局禁止虎牙斗鱼合并，你怎么看？","content":"<html><body><div>\n<p>　　#市场监管总局禁止<a href=\"https://laohu8.com/S/HUYA\">虎牙</a>斗鱼合并#登上<a href=\"https://laohu8.com/S/WB\">微博</a>热搜，引发网友热议。</p>\n<div><img src=\"http://n.sinaimg.cn/finance/transform/657/w550h107/20210710/bd3e-ksmehzt1623961.png\"/><span></span></div>\n<p>　　市场监管总局2021年1月4日对虎牙与<a href=\"https://laohu8.com/S/DOYU\">斗鱼</a>合并案，依法进行经营者集中反垄断审查。审查表明，本案相关市场为中国境内网络游戏运营服务市场和游戏直播市场。<a href=\"https://laohu8.com/S/00700\">腾讯</a>在上游网络游戏运营服务市场份额超过40%，排名第一；虎牙和斗鱼在下游游戏直播市场份额分别超过40%和30%，排名第一、第二，合计超过70%。</p>\n<p>　　目前，腾讯已具有对虎牙的单独控制权和对斗鱼的共同控制权。如虎牙与斗鱼合并，将使腾讯单独控制合并后实体，进一步强化腾讯在游戏直播市场的支配地位，同时使腾讯有能力和动机在上下游市场实施闭环管理和双向纵向封锁，具有或者可能具有排除、限制竞争效果，不利于市场公平竞争、可能减损消费者利益，也不利于网络游戏和游戏直播市场规范健康持续发展。经评估，腾讯提出的附加限制性条件承诺方案不能有效解决前述竞争关注。</p>\n<p>　　对此，有网友评论称， 必须打击资本的无限扩张和垄断！虎牙和斗鱼加起来都超70%市场份额，而且都具有了操控关联性，你们合并了，那剩下的30%还有活路吗？</p>\n<div><img src=\"http://n.sinaimg.cn/finance/transform/661/w550h111/20210710/07f4-ksmehzt1624071.png\"/><span></span></div>\n<p>　　还有网友对此表示，二者游戏直播市场份额超过70%，鹅厂的市场运营份额又超过40%，再并在一起就真是一家独大了！支持合并案不通过！</p>\n<div><img src=\"http://n.sinaimg.cn/finance/transform/621/w550h71/20210710/8c4c-4ed12b1737791e94c4839ffa9757c968.png\"/><span></span></div>\n<p>　　对于市场监管总局禁止虎牙斗鱼合并，你怎么看？</p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读，尽在<a href=\"https://laohu8.com/S/SINA\">新浪</a>财经APP</div>\n</div>\n<p>责任编辑：蒋晓桐 </p>\n</div></body></html>","source":"sina","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>#市场监管总局禁止虎牙斗鱼合并#上热搜 网友：必须打击资本的无限扩张和垄断</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\">\n#市场监管总局禁止虎牙斗鱼合并#上热搜 网友：必须打击资本的无限扩张和垄断\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-10 16:10 北京时间&nbsp;&nbsp;&nbsp;<a href=https://finance.sina.com.cn/chanjing/gsnews/2021-07-10/doc-ikqcfnca6070512.shtml><strong>新浪财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>#市场监管总局禁止虎牙斗鱼合并#登上微博热搜，引发网友热议。\n\n　　市场监管总局2021年1月4日对虎牙与斗鱼合并案，依法进行经营者集中反垄断审查。审查表明，本案相关市场为中国境内网络游戏运营服务市场和游戏直播市场。腾讯在上游网络游戏运营服务市场份额超过40%，排名第一；虎牙和斗鱼在下游游戏直播市场份额分别超过40%和30%，排名第一、第二，合计超过70%。\n　　目前，腾讯已具有对虎牙的单独控制权...</p>\n\n<a href=\"https://finance.sina.com.cn/chanjing/gsnews/2021-07-10/doc-ikqcfnca6070512.shtml\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/6af724efafb5788a889a167ca9c1dc5c","relate_stocks":{"HUYA":"虎牙","DOYU":"斗鱼"},"source_url":"https://finance.sina.com.cn/chanjing/gsnews/2021-07-10/doc-ikqcfnca6070512.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2150414309","content_text":"#市场监管总局禁止虎牙斗鱼合并#登上微博热搜，引发网友热议。\n\n　　市场监管总局2021年1月4日对虎牙与斗鱼合并案，依法进行经营者集中反垄断审查。审查表明，本案相关市场为中国境内网络游戏运营服务市场和游戏直播市场。腾讯在上游网络游戏运营服务市场份额超过40%，排名第一；虎牙和斗鱼在下游游戏直播市场份额分别超过40%和30%，排名第一、第二，合计超过70%。\n　　目前，腾讯已具有对虎牙的单独控制权和对斗鱼的共同控制权。如虎牙与斗鱼合并，将使腾讯单独控制合并后实体，进一步强化腾讯在游戏直播市场的支配地位，同时使腾讯有能力和动机在上下游市场实施闭环管理和双向纵向封锁，具有或者可能具有排除、限制竞争效果，不利于市场公平竞争、可能减损消费者利益，也不利于网络游戏和游戏直播市场规范健康持续发展。经评估，腾讯提出的附加限制性条件承诺方案不能有效解决前述竞争关注。\n　　对此，有网友评论称， 必须打击资本的无限扩张和垄断！虎牙和斗鱼加起来都超70%市场份额，而且都具有了操控关联性，你们合并了，那剩下的30%还有活路吗？\n\n　　还有网友对此表示，二者游戏直播市场份额超过70%，鹅厂的市场运营份额又超过40%，再并在一起就真是一家独大了！支持合并案不通过！\n\n　　对于市场监管总局禁止虎牙斗鱼合并，你怎么看？\n\n\n海量资讯、精准解读，尽在新浪财经APP\n\n责任编辑：蒋晓桐","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382090080,"gmtCreate":1613292118040,"gmtModify":1704879784142,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Good benchmark&nbsp;","listText":"Good benchmark&nbsp;","text":"Good benchmark","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/382090080","repostId":"2110026963","repostType":4,"repost":{"id":"2110026963","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1613109422,"share":"https://ttm.financial/m/news/2110026963?lang=&edition=fundamental","pubTime":"2021-02-12 13:57","market":"us","language":"en","title":"Here's the formula for spotting genuinely undervalued companies, claims this investment house","url":"https://stock-news.laohu8.com/highlight/detail?id=2110026963","media":"Dow Jones","summary":"The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis. For most of 2020, investors poured money into names like online retailer Amazon $$, electric-car maker Tesla $$, and e-commerce platform Shopify -- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.But when news broke in early November 2020 that drug company Pfizer $$ and its partner BioNTech $$ had developed an effective vaccine against COVID-19, something pro","content":"<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's the formula for spotting genuinely undervalued companies, claims this investment house</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\">\nHere's the formula for spotting genuinely undervalued companies, claims this investment house\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-12 13:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110026963","content_text":"MW Here's the formula for spotting genuinely undervalued companies, claims this investment house\nThe growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis\nFor most of 2020, investors poured money into names like online retailer Amazon $(AMZN)$, electric-car maker Tesla $(TSLA)$, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.\nBut when news broke in early November 2020 that drug company Pfizer $(PFE)$ and its partner BioNTech $(BNTX)$ had developed an effective vaccine against COVID-19, something profound happened in financial markets.\nInvestors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.\nThis rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.\nAnd it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.\nThe apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.\n\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.\n\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"\nAnalysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.\nThe value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.\nIn reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.\nStocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.\nTo have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.","news_type":1},"isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":386901584,"gmtCreate":1613122329148,"gmtModify":1704878590599,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Interesting article ??","listText":"Interesting article ??","text":"Interesting article ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/386901584","repostId":"2110026963","repostType":4,"repost":{"id":"2110026963","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1613109422,"share":"https://ttm.financial/m/news/2110026963?lang=&edition=fundamental","pubTime":"2021-02-12 13:57","market":"us","language":"en","title":"Here's the formula for spotting genuinely undervalued companies, claims this investment house","url":"https://stock-news.laohu8.com/highlight/detail?id=2110026963","media":"Dow Jones","summary":"The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis. For most of 2020, investors poured money into names like online retailer Amazon $$, electric-car maker Tesla $$, and e-commerce platform Shopify -- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.But when news broke in early November 2020 that drug company Pfizer $$ and its partner BioNTech $$ had developed an effective vaccine against COVID-19, something pro","content":"<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here's the formula for spotting genuinely undervalued companies, claims this investment house</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\">\nHere's the formula for spotting genuinely undervalued companies, claims this investment house\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-02-12 13:57</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>MW Here's the formula for spotting genuinely undervalued companies, claims this investment house</p>\n<p>The growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis</p>\n<p>For most of 2020, investors poured money into names like online retailer Amazon <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a>, electric-car maker Tesla <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a>, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.</p>\n<p>But when news broke in early November 2020 that drug company Pfizer <a href=\"https://laohu8.com/S/PFE\">$(PFE)$</a> and its partner BioNTech <a href=\"https://laohu8.com/S/BNTX\">$(BNTX)$</a> had developed an effective vaccine against COVID-19, something profound happened in financial markets.</p>\n<p>Investors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.</p>\n<p>This rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.</p>\n<p>And it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.</p>\n<p>The apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.</p>\n<p>\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.</p>\n<p>\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"</p>\n<p>Analysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.</p>\n<p>The value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.</p>\n<p>In reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.</p>\n<p>Stocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.</p>\n<p>To have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/15e20574f8fb568333181d61bb200086","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2110026963","content_text":"MW Here's the formula for spotting genuinely undervalued companies, claims this investment house\nThe growth stock vs. value stock dichotomy doesn't make sense, says ValuAnalysis\nFor most of 2020, investors poured money into names like online retailer Amazon $(AMZN)$, electric-car maker Tesla $(TSLA)$, and e-commerce platform Shopify (SHOP.T)-- \"growth\" stocks that kept indexes afloat in a turbulent year that hammered share prices across the board.\nBut when news broke in early November 2020 that drug company Pfizer $(PFE)$ and its partner BioNTech $(BNTX)$ had developed an effective vaccine against COVID-19, something profound happened in financial markets.\nInvestors rotated out of these investments in favor of \"value\" stocks hammered by the COVID-19 pandemic, like airlines.\nThis rotation was based on an essential concept in investing: There are some stocks that are clearly undervalued based on standard metrics.\nAnd it is completely flawed, according to research from ValuAnalysis, a London-based fund manager and equity investment boutique, which specializes in valuation.\nThe apparent difference between growth stocks and value stocks is that the former is overvalued based on fundamental metrics while the latter is undervalued.\n\"Everyone knows that this thing doesn't make any sense because growth is not the opposite of value,\" Pascal Costantini, who led the research at ValuAnalysis, tells MarketWatch.\n\"It should be high-growth and low-growth, and I can imagine that, somewhere in an office, some guy said 'well this is not catchy enough, so how about growth and value?'\"\nAnalysts and investors use metrics like the price-to-earnings ratio, or price multiple, to value stocks. ValuAnalysis uses price as a multiple of normalized net free cash flow as its benchmark, and identifies the imaginary dividing line between value and growth stocks at 35x, which is the market median.\nThe value vs. growth divide would suggest that a company trading at a 17x earnings multiple is undervalued. In reality, ValuAnalysis says it is likely a company that won't grow.\nIn reality, a stock's value is based on the company's ability to grow free cash flow in an environment where the cost of capital is 5% to 6%. So if a company isn't outpacing that by improving revenue and margins, the multiple won't increase and the stock price is unlikely to rise.\nStocks that are actually undervalued will trade between 25x and 35x free cash flow, Costantini says, outpacing the cost of capital but not breaking past the market median.\nTo have potential, a company's accumulation of assets or revenue growth must outpace increases in global gross domestic product, and ideally show signs of accelerating. There must also be an increase in operational leverage through revenue or margins. A decrease in the risk premium, such as through advances in controlling carbon emissions, helps.","news_type":1},"isVote":1,"tweetType":1,"viewCount":124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":381856605,"gmtCreate":1612955464407,"gmtModify":1704876477114,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Ironic!","listText":"Ironic!","text":"Ironic!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/381856605","repostId":"2110695015","repostType":2,"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383620767,"gmtCreate":1612874869359,"gmtModify":1704875250216,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"The future is here.","listText":"The future is here.","text":"The future is here.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383620767","repostId":"2110066956","repostType":2,"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389879091,"gmtCreate":1612755977713,"gmtModify":1704873842805,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Stay liquid for next opportunity?","listText":"Stay liquid for next opportunity?","text":"Stay liquid for next opportunity?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/389879091","repostId":"1180268693","repostType":4,"isVote":1,"tweetType":1,"viewCount":43,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":380895116,"gmtCreate":1612530313535,"gmtModify":1704872438153,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Compare energy consumption between physical mining vs digital mining?","listText":"Compare energy consumption between physical mining vs digital mining?","text":"Compare energy consumption between physical mining vs digital mining?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/380895116","repostId":"1161551882","repostType":4,"isVote":1,"tweetType":1,"viewCount":31,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317613703,"gmtCreate":1612444052302,"gmtModify":1704871269967,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Battery vs Fossil vs Hydrogen.. which is more sustainable?","listText":"Battery vs Fossil vs Hydrogen.. which is more sustainable?","text":"Battery vs Fossil vs Hydrogen.. which is more sustainable?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317613703","repostId":"1198883855","repostType":4,"isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317610836,"gmtCreate":1612443820325,"gmtModify":1704871266551,"author":{"id":"3554886378573045","authorId":"3554886378573045","name":"BOMS","avatar":"https://static.tigerbbs.com/80856351685835f7083ed431810a59be","crmLevel":7,"crmLevelSwitch":1,"followedFlag":false,"idStr":"3554886378573045","authorIdStr":"3554886378573045"},"themes":[],"htmlText":"Finally.. some catalyst..","listText":"Finally.. some catalyst..","text":"Finally.. some catalyst..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/317610836","repostId":"2108713228","repostType":4,"repost":{"id":"2108713228","kind":"news","pubTimestamp":1612426527,"share":"https://ttm.financial/m/news/2108713228?lang=&edition=fundamental","pubTime":"2021-02-04 16:15","market":"us","language":"en","title":"Alibaba Rallies in Credit Market as Dollar Bond Deal Starts","url":"https://stock-news.laohu8.com/highlight/detail?id=2108713228","media":"Bloomberg","summary":"(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 b","content":"<p>(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 billion, in what could be the biggest dollar bond sale in Asia in eight months.</p>\n<p>The Chinese e-commerce giant is marketing a multi-tranche bond offering which is expected to price as early as Thursday, according to a person familiar with the matter. The initial price guidance for the planned 10-year, 20-year, 30-year and 40-year notes is set at around 130 basis points, 140 basis points, 150 basis points and 160 basis points over U.S. Treasuries, said the person who isn’t authorized to speak publicly and asked not to be identified.</p>\n<p>Alibaba’s existing dollar notes and its shares rallied on Thursday after the news, on optimism that the deal was going ahead. Spreads on those securities tightened about 10 basis points across the curve, according to credit traders, more than the average 1 basis point on other Chinese investment-grade bonds. The company’s shares in Hong Kong erased earlier losses to trade up as much as 2.5%.</p>\n<p>If Alibaba were to raise $5 billion in the offering, that would be the biggest corporate dollar note deal in Asia since a $6 billion issuance by Tencent Holdings Ltd. in May. Alibaba was originally aiming to raise at least $5 billion via a debt sale that could have been increased to $8 billion depending on the reception, Bloomberg reported in early January. Investors had wondered then whether the company could pull off the deal as founder Jack Ma hadn’t been seen in public since his Internet empire was hit with growing antitrust scrutiny.</p>\n<p>The company is resuming the debt plans after reporting a 37% increase in quarterly revenue that beat analysts’ expectations, giving it a much-needed boost amid the regulatory crackdown. Beijing in November torpedoed affiliate Ant Group Co.’s record initial public offering and began an investigation into the online retailer, fueling uncertainty over the future of Ma’s tech empire. But the billionaire entrepreneur’s brief return to public view in January signaled that worst-case scenarios may be less likely.</p>\n<p>The firm is looking to raise cash partly for general corporate purposes, including working capital needs, repayment of offshore debt, and potential acquisitions of or investments in complementary businesses, according to the person. The 20-year tranche of Alibaba’s new offering will be its first sustainability bond.</p>\n<p>The company could not be reached immediately for comment.</p>\n<p>Alibaba’s dollar bonds have enjoyed a strong rebound since a selloff in China’s offshore investment grade notes at the beginning of the year. Spreads on the firm’s 3.4% note due 2027 were indicated at about 95 basis points over Treasuries on Wednesday, some 40 basis points tighter than its January high, the latest Bloomberg-compiled data show.</p>","source":"yahoofinance","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>Alibaba Rallies in Credit Market as Dollar Bond Deal Starts</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\">\nAlibaba Rallies in Credit Market as Dollar Bond Deal Starts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-04 16:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alibaba-rallies-credit-market-dollar-081527208.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 billion, in what could be the biggest dollar bond sale in Asia in eight months.\nThe Chinese e-...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-rallies-credit-market-dollar-081527208.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e271fe6de20809ded70d588b0374e136","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/alibaba-rallies-credit-market-dollar-081527208.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2108713228","content_text":"(Bloomberg) -- Alibaba Group Holding Ltd. is starting a sale of dollar debt to raise as much as $5 billion, in what could be the biggest dollar bond sale in Asia in eight months.\nThe Chinese e-commerce giant is marketing a multi-tranche bond offering which is expected to price as early as Thursday, according to a person familiar with the matter. The initial price guidance for the planned 10-year, 20-year, 30-year and 40-year notes is set at around 130 basis points, 140 basis points, 150 basis points and 160 basis points over U.S. Treasuries, said the person who isn’t authorized to speak publicly and asked not to be identified.\nAlibaba’s existing dollar notes and its shares rallied on Thursday after the news, on optimism that the deal was going ahead. Spreads on those securities tightened about 10 basis points across the curve, according to credit traders, more than the average 1 basis point on other Chinese investment-grade bonds. The company’s shares in Hong Kong erased earlier losses to trade up as much as 2.5%.\nIf Alibaba were to raise $5 billion in the offering, that would be the biggest corporate dollar note deal in Asia since a $6 billion issuance by Tencent Holdings Ltd. in May. Alibaba was originally aiming to raise at least $5 billion via a debt sale that could have been increased to $8 billion depending on the reception, Bloomberg reported in early January. Investors had wondered then whether the company could pull off the deal as founder Jack Ma hadn’t been seen in public since his Internet empire was hit with growing antitrust scrutiny.\nThe company is resuming the debt plans after reporting a 37% increase in quarterly revenue that beat analysts’ expectations, giving it a much-needed boost amid the regulatory crackdown. Beijing in November torpedoed affiliate Ant Group Co.’s record initial public offering and began an investigation into the online retailer, fueling uncertainty over the future of Ma’s tech empire. But the billionaire entrepreneur’s brief return to public view in January signaled that worst-case scenarios may be less likely.\nThe firm is looking to raise cash partly for general corporate purposes, including working capital needs, repayment of offshore debt, and potential acquisitions of or investments in complementary businesses, according to the person. The 20-year tranche of Alibaba’s new offering will be its first sustainability bond.\nThe company could not be reached immediately for comment.\nAlibaba’s dollar bonds have enjoyed a strong rebound since a selloff in China’s offshore investment grade notes at the beginning of the year. Spreads on the firm’s 3.4% note due 2027 were indicated at about 95 basis points over Treasuries on Wednesday, some 40 basis points tighter than its January high, the latest Bloomberg-compiled data show.","news_type":1},"isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}