Naaaiiviv personal page - To The Moon

Naaaiiviv

Naaaiiviv

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2021-06-13

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2021-06-10

$AMC Entertainment(AMC)$GOGOGO! Don’t disappoint us!

2021-08-08

[Cool]

Tesla Stock: Headed to $1,200?

2021-05-17

$IFAST CORPORATION LTD.(AIY.SI)$?

2021-09-06

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2021-04-28

$KEPPEL DC REIT(AJBU.SI)$When will it rise agagain :(

2021-08-30

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2021-06-12

[Cool]

AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders

2021-06-08

Let’s goo[Miser]

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2021-05-08

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Pfizer, BioNTech Seek Full FDA Approval For Covid Vaccine; Shares Pop

Go to Tiger App to see more news

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&nbsp; &nbsp; &nbsp;&nbsp;前段時間教育新規落地&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;無疑是給本來不咋地的教育行業來了一個當頭一金箍棒一般差點直接要了老命一般。之前行業三劍客一直受到資本的追捧一路高歌猛進，股價一路飆升，後來又開始走下坡路，直到新規落地，直接來個斷頭斬，可以說是直接略過谷底直奔地獄都不爲過。雖然說這個階段打擊不小，行情複雜程度也不低，但是要注意一下就是現階段正是行業優勝虐汰的關鍵時期，只有行業的領頭羊才能最後活下來，並慢慢繼續發展。就目前來說我還是比較看好教育行業的，尤其是這個關鍵時期，大部分以前買不到嫌貴了，這個就是機會，天賜良機也不爲過。當然也有風險，就是這些企業破產退市啥的，不過連行業老大哥都倒下了，二弟三弟也玩完了，那這個行業就可以推到重來了。這會帶來連鎖效應，各種各樣想起來都複雜，還是別想的好，因爲這是zf會去想的，該鬆口鬆口該放鬆還是可以滴。我不太喜歡分享太多數據的東西，簡單分享個人的觀點，如果看好的，可以分批買5次，10次，20次，一週還是一個月，總共買半年還是一年拿來堅持。都知道教育行業要想發展起來，時間還是要的<a href=\"https://laohu8.com/S/EDU\">$新東方(EDU)$</a><a href=\"https://laohu8.com/S/GOTU\">$高途(GOTU)$</a><a href=\"https://laohu8.com/S/002729\">$好利來(002729)$</a>","listText":"&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;前段時間教育新規落地&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;無疑是給本來不咋地的教育行業來了一個當頭一金箍棒一般差點直接要了老命一般。之前行業三劍客一直受到資本的追捧一路高歌猛進，股價一路飆升，後來又開始走下坡路，直到新規落地，直接來個斷頭斬，可以說是直接略過谷底直奔地獄都不爲過。雖然說這個階段打擊不小，行情複雜程度也不低，但是要注意一下就是現階段正是行業優勝虐汰的關鍵時期，只有行業的領頭羊才能最後活下來，並慢慢繼續發展。就目前來說我還是比較看好教育行業的，尤其是這個關鍵時期，大部分以前買不到嫌貴了，這個就是機會，天賜良機也不爲過。當然也有風險，就是這些企業破產退市啥的，不過連行業老大哥都倒下了，二弟三弟也玩完了，那這個行業就可以推到重來了。這會帶來連鎖效應，各種各樣想起來都複雜，還是別想的好，因爲這是zf會去想的，該鬆口鬆口該放鬆還是可以滴。我不太喜歡分享太多數據的東西，簡單分享個人的觀點，如果看好的，可以分批買5次，10次，20次，一週還是一個月，總共買半年還是一年拿來堅持。都知道教育行業要想發展起來，時間還是要的<a href=\"https://laohu8.com/S/EDU\">$新東方(EDU)$</a><a href=\"https://laohu8.com/S/GOTU\">$高途(GOTU)$</a><a href=\"https://laohu8.com/S/002729\">$好利來(002729)$</a>","text":"前段時間教育新規落地 無疑是給本來不咋地的教育行業來了一個當頭一金箍棒一般差點直接要了老命一般。之前行業三劍客一直受到資本的追捧一路高歌猛進，股價一路飆升，後來又開始走下坡路，直到新規落地，直接來個斷頭斬，可以說是直接略過谷底直奔地獄都不爲過。雖然說這個階段打擊不小，行情複雜程度也不低，但是要注意一下就是現階段正是行業優勝虐汰的關鍵時期，只有行業的領頭羊才能最後活下來，並慢慢繼續發展。就目前來說我還是比較看好教育行業的，尤其是這個關鍵時期，大部分以前買不到嫌貴了，這個就是機會，天賜良機也不爲過。當然也有風險，就是這些企業破產退市啥的，不過連行業老大哥都倒下了，二弟三弟也玩完了，那這個行業就可以推到重來了。這會帶來連鎖效應，各種各樣想起來都複雜，還是別想的好，因爲這是zf會去想的，該鬆口鬆口該放鬆還是可以滴。我不太喜歡分享太多數據的東西，簡單分享個人的觀點，如果看好的，可以分批買5次，10次，20次，一週還是一個月，總共買半年還是一年拿來堅持。都知道教育行業要想發展起來，時間還是要的$新東方(EDU)$$高途(GOTU)$$好利來(002729)$","images":[{"img":"https://static.tigerbbs.com/03da9a5006a1ee7f06fd556000975a55","width":"4608","height":"2176"},{"img":"https://static.tigerbbs.com/0c4e55d38e0a6d051d9fa8cc35db4881","width":"2280","height":"1080"},{"img":"https://static.tigerbbs.com/824e5b5c80b705296d5a1c4d2f285411","width":"2280","height":"1080"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/816546155","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":2566,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811196285,"gmtCreate":1630294747647,"gmtModify":1676530260240,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/811196285","repostId":"1159889394","repostType":4,"isVote":1,"tweetType":1,"viewCount":3180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891735335,"gmtCreate":1628426554527,"gmtModify":1703506135899,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/891735335","repostId":"1159872041","repostType":4,"repost":{"id":"1159872041","kind":"news","pubTimestamp":1628385224,"share":"https://ttm.financial/m/news/1159872041?lang=en_US&edition=fundamental","pubTime":"2021-08-08 09:13","market":"us","language":"en","title":"Tesla Stock: Headed to $1,200?","url":"https://stock-news.laohu8.com/highlight/detail?id=1159872041","media":"Motley Fool","summary":"Tesla deliveries more than doubled year over year in Q2.Rising demand for electric vehicles could benefit Tesla.Investors should exercise caution when it comes to analysts' price targets.It's been a wild year for Teslastock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.In February,Piper Sandler analys","content":"<p><b>Key Points</b></p>\n<ul>\n <li>Tesla deliveries more than doubled year over year in Q2.</li>\n <li>Rising demand for electric vehicles could benefit Tesla.</li>\n <li>Investors should exercise caution when it comes to analysts' price targets.</li>\n</ul>\n<p>It's been a wild year for&nbsp;<b>Tesla</b>(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the&nbsp;<b>S&amp;P 500</b>'s 18% gain this year.</p>\n<p>But one analyst thinks the stock could take off.</p>\n<p><b>\"We still really like this stock.\"</b></p>\n<p>In February,<b>Piper Sandler</b>&nbsp;analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.</p>\n<p>Following Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.</p>\n<p>Further, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.</p>\n<p>On Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.</p>\n<p><b>So what gives?</b></p>\n<p>If shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.</p>\n<p>The issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.</p>\n<p>Investors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.</p>\n<p>While a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.</p>\n<p></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>Tesla Stock: Headed to $1,200?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock: Headed to $1,200?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-08 09:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159872041","content_text":"Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets.\n\nIt's been a wild year for Tesla(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.\nBut one analyst thinks the stock could take off.\n\"We still really like this stock.\"\nIn February,Piper Sandler analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.\nFollowing Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.\nFurther, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.\nOn Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.\nSo what gives?\nIf shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.\nThe issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.\nInvestors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.\nWhile a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3072,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182355456,"gmtCreate":1623555283975,"gmtModify":1704206046664,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":12,"repostSize":0,"link":"https://ttm.financial/post/182355456","repostId":"2142788118","repostType":4,"isVote":1,"tweetType":1,"viewCount":3632,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3560247957239615","authorId":"3560247957239615","name":"Anonymous2","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"idStr":"3560247957239615","authorIdStr":"3560247957239615"},"content":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","text":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","html":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend"},{"author":{"id":"3560247957239615","authorId":"3560247957239615","name":"Anonymous2","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"idStr":"3560247957239615","authorIdStr":"3560247957239615"},"content":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","text":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","html":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186233189,"gmtCreate":1623500056141,"gmtModify":1704205166313,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/186233189","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://ttm.financial/m/news/1104635261?lang=en_US&edition=fundamental","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<blockquote>\n <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>\n</blockquote>\n<p>A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p>\n<p>Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p>\n<p>The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p>\n<p>The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p>\n<p>Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p>\n<p>As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p>\n<p>Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p>\n<p>“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p>\n<p>Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p>\n<p>It was a day too late.</p>\n<p>AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p>\n<p>Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p>\n<p>The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p>\n<p>Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p>\n<p>But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p>\n<p>Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p>\n<p>Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p>\n<p>Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p>\n<p>Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</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>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders</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\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest ...</p>\n\n<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":4063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181794735,"gmtCreate":1623410531827,"gmtModify":1704202845129,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/181794735","repostId":"2142576270","repostType":4,"repost":{"id":"2142576270","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":1623405780,"share":"https://ttm.financial/m/news/2142576270?lang=en_US&edition=fundamental","pubTime":"2021-06-11 18:03","market":"hk","language":"en","title":"GameStop stock bouncing 7.33% premarket, after tumbling 27.2% on Thursday","url":"https://stock-news.laohu8.com/highlight/detail?id=2142576270","media":"Dow Jones","summary":"GameStop stock bouncing 7.33% premarket, after tumbling 27.2% on Thursday","content":"<p>GameStop stock bouncing 7.33% premarket, after tumbling 27.2% on Thursday</p>\n<p><img src=\"https://static.tigerbbs.com/53546fcaa785fc4ecf0e43558a49a80d\" tg-width=\"700\" tg-height=\"584\"></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>GameStop stock bouncing 7.33% premarket, after tumbling 27.2% on Thursday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGameStop stock bouncing 7.33% premarket, after tumbling 27.2% on Thursday\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\">2021-06-11 18:03</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>GameStop stock bouncing 7.33% premarket, after tumbling 27.2% on Thursday</p>\n<p><img src=\"https://static.tigerbbs.com/53546fcaa785fc4ecf0e43558a49a80d\" tg-width=\"700\" tg-height=\"584\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142576270","content_text":"GameStop stock bouncing 7.33% premarket, after tumbling 27.2% on Thursday","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":3500,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183679448,"gmtCreate":1623331075584,"gmtModify":1704201037428,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>GOGOGO! Don’t disappoint us!","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>GOGOGO! Don’t disappoint us!","text":"$AMC Entertainment(AMC)$GOGOGO! Don’t disappoint us!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/183679448","isVote":1,"tweetType":1,"viewCount":4513,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3583386922927867","authorId":"3583386922927867","name":"Alansss","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"idStr":"3583386922927867","authorIdStr":"3583386922927867"},"content":"NO mather what will happen today, remever just hold.","text":"NO mather what will happen today, remever just hold.","html":"NO mather what will happen today, remever just hold."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180844559,"gmtCreate":1623199921871,"gmtModify":1704198126685,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/180844559","repostId":"2142952402","repostType":4,"isVote":1,"tweetType":1,"viewCount":4331,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117674057,"gmtCreate":1623141000879,"gmtModify":1704196904251,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Let’s goo[Miser]&nbsp;","listText":"Let’s goo[Miser]&nbsp;","text":"Let’s goo[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/117674057","repostId":"1125998409","repostType":4,"isVote":1,"tweetType":1,"viewCount":4055,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115473417,"gmtCreate":1623028918939,"gmtModify":1704194545889,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Smile]&nbsp;","listText":"[Smile]&nbsp;","text":"[Smile]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/115473417","repostId":"1102972710","repostType":4,"repost":{"id":"1102972710","kind":"news","pubTimestamp":1622948427,"share":"https://ttm.financial/m/news/1102972710?lang=en_US&edition=fundamental","pubTime":"2021-06-06 11:00","market":"us","language":"en","title":"Micron: A Strong Chip Shortage Play","url":"https://stock-news.laohu8.com/highlight/detail?id=1102972710","media":"seekingalpha","summary":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favo","content":"<p><b>Summary</b></p>\n<ul>\n <li>Micron's four business units have sizable TAMs.</li>\n <li>Both the DRAM and NAND industries have favourable outlooks.</li>\n <li>Industry tailwinds point to pricing power and expanding margins.</li>\n <li>The strong financials of the company will serve them well in the current high-volatility environment.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b87dd8114b0aa47fdcdd26e5dc40d5ee\" tg-width=\"1536\" tg-height=\"896\"><span>Photo by vchal/iStock via Getty Images</span></p>\n<p>Micron Technology(NASDAQ:MU)&nbsp;is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as&nbsp;auto manufacturers forced to slash production.</p>\n<p>Semiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.</p>\n<p><b>Business Model</b></p>\n<p>Micron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even&nbsp;3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:</p>\n<blockquote>\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n</blockquote>\n<p>As promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.</p>\n<p><b>DRAM and NAND</b></p>\n<p>DRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.</p>\n<p>It is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.</p>\n<p>The DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with&nbsp;23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung &amp; SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the&nbsp;largest consumer of DRAMs&nbsp;by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/17c2b471dd41b837a1ad129c180fa0b9\" tg-width=\"640\" tg-height=\"368\"><span>Source: Statista Global DRAM Market Share</span></p>\n<p>As of the latest fiscal quarter 21, DRAM sales represented&nbsp;71.26%&nbsp;of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.</p>\n<p>Historically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/371a886343d14f2ba3407afa02804db5\" tg-width=\"640\" tg-height=\"526\"><span>Source: Author's Compilations</span></p>\n<p>TAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.</p>\n<p>Micron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful&nbsp;26.46%&nbsp;as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.</p>\n<p>Likewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has&nbsp;announced plans to acquire&nbsp;Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b8da20e0246607003c65afa09ff3998\" tg-width=\"640\" tg-height=\"403\"><span>Source: Statista Global NAND Flash Market Share</span></p>\n<p>Despite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a&nbsp;similar bid for $30 BN&nbsp;to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e220cb5c3b6dea5d0f84bde25765bfa\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cc8e8ee498e5b2469b09b1605b2ef98a\" tg-width=\"640\" tg-height=\"384\"><span>Source: Author's Compilations</span></p>\n<p>The $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap &amp; EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather&nbsp;long history of acquisitions&nbsp;having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory &amp; Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.</p>\n<p>If successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.</p>\n<p><b>More Conviction</b></p>\n<p>For more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8953a521354fd97f74d0f8694e0a0ee6\" tg-width=\"640\" tg-height=\"204\"><span>Source: Micron's Q2 Investor Presentation</span></p>\n<p>As of FQ-2 21, CNBUs (Compute &amp; Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM &amp; NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the&nbsp;10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.</p>\n<p>MBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to&nbsp;Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.</p>\n<p>However, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to&nbsp;50% market share&nbsp;in the space, according to Trendforce, a world leading market intelligence provider.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e31402367246f258d67658ada2e3a41e\" tg-width=\"640\" tg-height=\"229\"><span>Source: Micron's Automotive Division</span></p>\n<p>This is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from&nbsp;DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than&nbsp;30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs &amp; AVs.</p>\n<p>As it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S &amp; X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the&nbsp;next generation of Tesla Models will have even more at 20GB.</p>\n<p>The growing automobile memory space where Micron has maintained its underdog&nbsp;30-year leadership&nbsp;will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.</p>\n<p><b>Industry Tailwinds</b></p>\n<p>Moving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.</p>\n<p>For a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.</p>\n<p>When the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.</p>\n<p>When firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.</p>\n<p>Looking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/18c32366202010d3411e7888fcae587f\" tg-width=\"640\" tg-height=\"393\"><span>Source: Author's Compilations</span></p>\n<p>2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/060cf4c42cb775ea2a1d35cbd3b796e1\" tg-width=\"640\" tg-height=\"261\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p>The industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by&nbsp;Trendforce:</p>\n<blockquote>\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 &amp; they already rose 3-8% in the first quarter of 2021.\n</blockquote>\n<p>Call it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ff33c479a31ba4e4ee56a91be2d78318\" tg-width=\"456\" tg-height=\"111\"><span>Source: Seeking Alpha</span></p>\n<p>In the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.</p>\n<p><b>Financials</b></p>\n<p>Q1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/07766c05dc0d46a9660c290084da2442\" tg-width=\"640\" tg-height=\"209\"><span>Source: Micron FQ-2 Investor Presentation</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d9d3f14c1b13fc41c6c44c29f8a947fb\" tg-width=\"451\" tg-height=\"145\"><span>Source: Seeking Alpha</span></p>\n<p>Management also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on&nbsp;6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.</p>\n<p>As mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe3bd33eeed49eebb87776a32f152e41\" tg-width=\"640\" tg-height=\"137\"><span>Source: Tikr</span></p>\n<p>Next, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/14d722c6a10e22e26e12a82be0a69481\" tg-width=\"640\" tg-height=\"125\"><span>Source: Tikr</span></p>\n<p>Although Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.</p>\n<p>Analysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.</p>\n<p>FCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.</p>\n<p>Currently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.</p>\n<p><b>Risks</b></p>\n<p>No matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.</p>\n<p>With the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.</p>\n<p>Government subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing&nbsp;prosecution&nbsp;for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.</p>\n<p>Changing industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.</p>\n<p>Other potential risks may include further unexpected impacts to Micron's power plants such as&nbsp;outages and floods&nbsp;similar to what happened in Taiwan last year.</p>\n<p><b>Valuation</b></p>\n<p>Finally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00bc87a283f9420f33b1c7c52ad2f344\" tg-width=\"640\" tg-height=\"384\"><span>A005930 refers to Samsung and A000660 refers to SK Hynix</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb98c272aeec7c9aefdab00d22955f64\" tg-width=\"611\" tg-height=\"367\"><span>Source: Author's Compilations</span></p>\n<p>We can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.</p>\n<p><img src=\"https://static.tigerbbs.com/c4effc3d3acfdad8726c391bb0872880\" tg-width=\"640\" tg-height=\"229\"></p>\n<p>Keeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.</p>\n<p>If I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.</p>\n<p>Since I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&amp;P 500.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e6626b3363e839c178999a3d2b48940\" tg-width=\"640\" tg-height=\"46\"><span>Source: Tikr</span></p>\n<p>The current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the&nbsp;semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ea91b1b8e3f714b2441d27be59a6c538\" tg-width=\"640\" tg-height=\"64\"><span>Source: CSI Market</span></p>\n<p>Micron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9c6db0e4e02a94b2ed6ad9df84767cc9\" tg-width=\"640\" tg-height=\"110\"><span>Source: Seeking Alpha</span></p>\n<p><b>Final Takeaways</b></p>\n<p>Based on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.</p>\n<p>In this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.</p>\n<p>I have noticed that there has been some&nbsp;concerns&nbsp;regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.</p>\n<p>I personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production &amp; CAPEX levels can shift the tide quickly.</p>\n<p>As a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.</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>Micron: A Strong Chip Shortage Play</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\">\nMicron: A Strong Chip Shortage Play\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-06 11:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong ...</p>\n\n<a href=\"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技"},"source_url":"https://seekingalpha.com/article/4433177-micron-a-strong-chip-shortage-play","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1102972710","content_text":"Summary\n\nMicron's four business units have sizable TAMs.\nBoth the DRAM and NAND industries have favourable outlooks.\nIndustry tailwinds point to pricing power and expanding margins.\nThe strong financials of the company will serve them well in the current high-volatility environment.\n\nPhoto by vchal/iStock via Getty Images\nMicron Technology(NASDAQ:MU) is a severely undervalued semiconductor play with significant upside based upon conservative estimates, strong fundamentals, and favorable industry tailwinds. The current semiconductor shortage worldwide has put pressure upon semiconductor companies as they rush to ramp up production after an intentional slowdown and supply disruption amidst the pandemic. Forecasts and estimates regarding how fast demand was to bounce back came in entirely too conservative, and as a result the unprecedented surge in demand with a lagging supply has buyers of semiconductor chips such as auto manufacturers forced to slash production.\nSemiconductors of all kinds are the fundamental basic unit and brains of products ranging from audio devices, security cameras, automobiles, to even smart fridges. When it comes to a global shortage in a time as such, companies that are 'fabless' lose out and those that have their own manufacturing facilities and plants gain the upper hand as flexibility and production output remains in their ballpark. Today we examine how Micron is one of them, and despite its remarkable run up 54% since the start of 2020, there is considerable upside remaining given the size of the different total addressable markets(NYSE:TAM)that Micron is targeting.\nBusiness Model\nMicron is one of the top 3 memory chip makers in the world with a product portfolio featuring DRAM, NAND, NOR, and even 3D XPoint SSDs that they have since ceased production.Management guided that the decision comes amidst the findings that:\n\n There was insufficient market validation to justify the ongoing investments required to commercialize 3D XPoint at scale.\n\nAs promising as the 3D XPoint developments that Micron had that first started as a joint partnership with Intel in 2015 before parting ways in 2018 was, the impact moving forward will be minimal given that revenue from selling DRAM and NAND chips still accounts for the majority of Micron's Revenue, and 3D XPoint SSDs had yet to scale up.\nDRAM and NAND\nDRAM (Dynamic Random-Access Memory) devices are essentially a type of low latency memory product commonly used in PCs, servers, smartphones, and automobiles.\nIt is 'volatile' as content will be lost if the power supply is turned off. As such, DRAM devices store information that needs to be quickly accessed by the CPU / GPU. CPUs provide the raw computational power needed to run software programs and RAMs store the data and software code needed by the CPU to run in real-time.\nThe DRAM market operates as an oligopolistic one, with the 3 biggest competitors, Samsung (OTC:SSNLF), SK Hynix (OTC:HXSCL), and Micron dominating 94.1% of the market share. Samsung leads with 42% as of the latest fiscal quarter, SK Hynix second with 29% and Micron close behind with 23.1% of the market share.Amongst the 3, Micron is the only one operating in the U.S with Samsung & SK Hynix based in South Korea. This geographical advantage has come to serve Micron well in the automobile memory market as I will proceed to prove later, although it can be argued that this very same factor has placed the 2 Korean companies in a better position to service the largest consumer of DRAMs by region - China. In 2019, China accounted for 55.42% of global DRAM consumption by region.\nSource: Statista Global DRAM Market Share\nAs of the latest fiscal quarter 21, DRAM sales represented 71.26% of the company's total revenue. Although there may be the risk of concentration with a substantial portion of sales coming from 1 of the 3 main product offerings, DRAM chips have always represented the majority of the firm's sales. With favorable industry tailwinds, positive outlook regarding overall DRAM market dynamics, pricing power, and very likely higher margins as a result, this concentration of sales will likely also prove to be more of a boon than a bane for Micron in the current economic environment that we are in today.\nHistorically, Micron has also retained a firm hold of their share in the DRAM market and has made an effort to gradually increase it overtime since CY 2016. The inherently high BTE and economies of scale in an oligopolistic market coupled with necessary high CAPEX spending serves to grant the dominant 3 a firm hold in the DRAM market for years to come. The chart below shows Micron holding a steady 20 - 23% market share since CY 15, testament to their persistent presence as a top 3 market player.\nSource: Author's Compilations\nTAM: As DRAM products represent a majority of Micron's sales, it is imperative that the market they are operating in has a bright future and is on track to grow.According to MarketWatch,the global DRAM market revenue was valued at $62.1 BN in 2020 and is expected to grow to $91.1 BN by the end of 2026, representing a CAGR of 8%. With a sizable TAM in their leading product offering, the company should reap in the rewards of a growing market in terms of future revenue. As DRAM products also bring in higher margins at the end of the day based on CNBU and MBU (explained below) Operating Margins, this acts as a further catalyst for Micron.\nMicron also offers NAND products and though it represents a smaller chunk of Total Revenue relative to DRAMs, it still accounted for a meaningful 26.46% as of Q2 FY 21. NAND chips are used for the storage of information. Slower than DRAMs for accessing memory quickly, they are 'non-volatile' as the content can still be accessed should the power supply be cut off. These are commonly found in hard drives, smartphones and data centers.\nLikewise, the dominant 3 in the DRAM market also represent a significant portion of the NAND market albeit having more competitors. In the NAND flash market, Micron ranks 5th worldwide, behind the same industry leader - Samsung. As of Q1 21, Samsung dominated with 33.5% market share, Kioxia 18.7%, Western Digital (WDC) 14.4%, SK Hynix 12.3%, and Micron with 11.1%. However, in a market very similar to that of DRAM, acquisitions by the big power players can be expected to further solidify their presence and chew out competitors. As it is, SK Hynix has announced plans to acquire Intel's NAND Storage Unit (INTC), which represented a 7.5% market share in the NAND market beginning this year. Moving forward, this move is likely to bump the Korean company up to 2nd place with about 20% of the market, overtaking Kioxia. It is important to note however that this acquisition does not include Intel's Optane 3D XPoint portfolio that Intel will be retaining.\nSource: Statista Global NAND Flash Market Share\nDespite having more competition and less pricing power in this market, there too have been rumors that Micron is looking to make a move on Kioxia in a similar bid for $30 BN to enhance the competitiveness in its storage solutions in a rapidly growing NAND flash space. Western Digital also stands as a potential opposing bidder with both firms having merits as to why they should be the ideal one to acquire Kioxia. As of now, leverage seems to be in the hands of Micron as a firm with much more operating cashflow and a better balance sheet.\nSource: Author's Compilations\nSource: Author's Compilations\nThe $30 BN that Kioxia has been rumored to be valued at represents more than the entire Market Cap & EV of Western Digital. Besides, the firm already has more Total Debt relative to Micron, lower Operating Cashflows, and has a lower LTM Current Ratio of 2.01 compared to the 3.18 that Micron has that speaks directly to MU's near term liquidity strength. Surface level financial analysis goes to show that this would be a deal likely to go to Micron despite WDC having a joint venture with Kioxia. Furthermore, Micron has a rather long history of acquisitions having acquired Numonyx, a NOR manufacturer in 2010, Elpida Memory & Rexchip Electronics in 2013, Tidal Systems, Convey Computer, and Pico Computing in 2015, Inotera Memories in 2016… the list goes on. As you can see, Micron is quite the decorated acquiring firm.\nIf successful, Micron's NAND dominance has the potential to leap from its 5th placing, 11.1% of the market share to 29.8%, placing them as the 2nd biggest player, just 370 Bps below that of Samsung, and this is after accounting for SK Hynix's recent acquisition of Intel's NAND operations.\nMore Conviction\nFor more conviction in our thesis, we can look to the performance and different TAMs in Micron's business units breakdown.\nSource: Micron's Q2 Investor Presentation\nAs of FQ-2 21, CNBUs (Compute & Networking Business Unit) as always represented the largest portion of the firm's sales, taking up 42% of TR. This unit consists of memory products like DRAM & NAND sold to client, cloud servers, graphics, enterprise and networking markets as defined by the 10-Q.The 34% YOY improvement is promising but the really exciting growth came from MBUs and remains to be seen in EBUs.\nMBUs (Mobile Business Unit) represent the 2nd biggest revenue segment for Micron, accounting for 29% of TR, up an impressive 44% YOY. MBUs are memory and storage products for mobile devices, most notably smartphones. According to Mordor Intelligence,the global smartphone market will be valued at more than a trillion dollars by 2026, up from the $715 BN in 2020, a CAGR of 11.6%. Although therein lies the risk that the smartphone replacement cycle has been lengthening, the gradual shift to 5G overtime will force smartphone users to have to upgrade to a 5G capable one that can operate on the same frequency. Doing so will mean more DRAM and NAND content per unit that Micron will stand to benefit from.\nHowever, what's being left out by many is Micron's dominant position in the memory market for automobiles and the sizable TAM in this space moving forward. EBUs (Embedded Business Unit) represent the 2nd smallest revenue segment (15% of TR) of the 4 that Micron has. This essentially refers to embedded memory and storage chips sold to automotive, industrial, and consumer markets. Despite not being the main cash cow for Micron, EBUs still saw remarkable growth of 34% YOY in FQ-2. Micron may have been 3rd in the overall DRAM space and 5th in the overall NAND space, but they are the only memory chip provider with a substantial close to 50% market share in the space, according to Trendforce, a world leading market intelligence provider.\nSource: Micron's Automotive Division\nThis is where the geographical advantage for Micron comes into play. Micron effectively leverages their collaborative relationships with Tier-1 automobile suppliers based in Europe and the U.S to service them their comprehensive product portfolio of automotive memory solutions ranging from DDR2 - DDR 4 solutions to LPDDR 2 -5 solutions.The pure growth in this space can be seen from the fact that the average DRAM content of cars will continue to grow at a CAGR of more than 30% from 2021 - 2024.That is by far the biggest growth sector in any of Micron's Business Units moving forward and Micron's 30 years of leadership in the automobile memory space with no dominant position from Samsung or SK Hynix will come to serve them well in an era where we transition to EVs & AVs.\nAs it is, Tesla has already shown that new electric vehicles will be needing a lot more DRAM content and this trend will continue to play out as the world demands more cars with more technological capabilities. In its earlier Model S & X, Tesla reached at least 8GB of DRAM content within the vehicles. The newer Model 3, however, is further equipped with 14GB of DRAM content and the next generation of Tesla Models will have even more at 20GB.\nThe growing automobile memory space where Micron has maintained its underdog 30-year leadership will come to serve them well in the future as we transition to more sustainable and green versions of automobiles that demand more memory as well. Just remember that the more software a device has, the more memory is needed. Hence, we should be able to see positive growth in the EBU segment moving forward. However, one thing to note is that the EBU segment consists of sales to other industries that may be lagging and as a whole, the Operating Margins(NASDAQ:OM)from this segment of 15% stands pale in comparison to the OM in the CNBU segment of 26.9% and 25.6% in MBUs.\nIndustry Tailwinds\nMoving on to the industry outlook, Micron operates in a somewhat commoditized sector which experiences the extreme booms and busts of the demand cycle for PCs and Servers. Despite being a rather cyclical stock where the stock price is commanded largely by the DD and SS of computer chips and production capacity in general, it appears as if we are at the lows of the cycle and Micron remains to be one of the better plays for the ongoing global chip shortage as we begin the next leg up.\nFor a brief explanation on how the memory chip market moves overtime, let me take a stab at it. In essence, the overall supply of memory chips - most of which is produced by the dominant 3 - relative to demand, dictates the prices of chips, and therefore affects the financials of companies.\nWhen the memory market is in a 'bull' cycle as it was in 2010, 2014, 2018, and forecasted DD is set to outpace production capacities by firms, it results in a near-term shortage where the dominant market players (MU included) have the power to raise prices and maximize revenues. As COGS remain relatively constant regardless of the commodity cycle, this eventually translates to higher Gross Margins(NYSE:GM)for firms, a higher EBITDA which coincides nicely with stock price outperformance, and likely a higher bottom line. Although market players tend to agree on CAPEX spending and limit production capacities as a hedge from overproduction, firms blinded by the profits and higher margins tend to chase 'gains' and make the most of the cycle by capturing as much market share as possible.\nWhen firms do that and start to ramp up capacity with no regard for agreed limitations on production capacity and CAPEX spend, overproduction usually ensues that overwhelms the already inflated DD that is now dwindling, resulting in a surplus which brings just about the opposite consequence. Firms then lose pricing power and experience compressing margins in the years to follow, before the slowdown in capacity because of this very surplus eventually dips below future forecasted DD, thereby kickstarting the next leg up because of a shortage.\nLooking to history, when Micron has enjoyed higher EBITDA during those bull commodity cycles when there is a shortage in the industry, the stock price tends to outperform as well, in line with the higher pricing power and margins the firm experiences.\nSource: Author's Compilations\n2018 represented the peak in the previous memory market commodity cycle where the dominant industry players overbuilt capacity chasing margins, and as a result experienced the surplus and its consequences since. Because EBITDA has been falling since 2018 and GM, OM, and NPM have all cumulatively been decreasing YOY, so has the stock price. However, we are now facing another shortage in the DRAM market as production has slowed since the resulting slowdown in 2018. This coupled with an unprecedented surge in demand for chips, fueled by the emerging hyper-growth industries brought forward by the pandemic sets the stage for Micron's potential rally up. With a transition to 5G, Electric and Autonomous Vehicles, Artificial Intelligence, IOTs, Cloud Computing, Cobotic Manufacturing and Healthcare Telemedicine, the convergence of these advanced technologies mean more demand for advanced memory solutions, and Micron stands to win from it all.\nSource: Micron FQ-2 Investor Presentation\nThe industry outlook only serves to confirm the shifting tides in the memory market, with the DRAM market facing a severe shortage and optimistic long-term demand growth at a CAGR around 15-19%. A shortage may not seem like good news, but for a dominant market player like Micron that can raise prices and aren't reliant on outsourced production, it is. For further confirmation we can look to the upwardly revised estimates regarding the rise in DRAM prices in Q1 and Q2 of 2021 by Trendforce:\n\n Trendforce predicts that DRAM prices will rise 13-18% in the second quarter of 2021 & they already rose 3-8% in the first quarter of 2021.\n\nCall it inflation, call it whatever you want, but what I do know is that the higher prices in the DRAM market that has since manifested itself and has been forecasted to rise even higher will translate to higher profits for Micron. Market players are likely to make the most of this shortage as demand will not taper off given the fundamental need for memory chips against the backdrop of an era where advanced technologies are so rampant. Analysts too are forecasting improved revenues and earnings seen from the number of upward revisions and none downward in the last 3 months.\nSource: Seeking Alpha\nIn the NAND market, although production output has been forecasted to be oversupplied due to increasing shipments, CY 21 demand is still expected to be around 30 - 35% and CAPEX cuts are likely to be implemented.\nFinancials\nQ1 Revenue delivered 12% growth YOY, GM a 359 Bps improvement to 30.90% and NPM a 488 Bps growth YOY to a healthy 15.54%. Q2 delivered even better numbers, with Revenues coming in at $6.2 BN despite management guidance of $5.8 BN. GM further improved to 32.93% and NPM increased 731 Bps YOY to end the quarter with NPM at 18.09%. All of the above are NON-GAAP numbers.\nSource: Micron FQ-2 Investor Presentation\nSource: Seeking Alpha\nManagement also has a history of beating estimates with 8 beats in the last 2 years, effectively delivering a 100% probability that it will beat its own guidance moving forward, although not a guarantee as with anything else in business and life. Yet, forward guidance for FQ-3 is expecting a 30% improvement in Revenues YOY and GM to further rise to 41.5%, compared to the 33.17% they did last year and 32.93% just last quarter. As for DEPS estimates, the $1.62 estimate given by management implies a remarkable 98% YOY increase. Analyst consensus estimates come in even higher than that for the upcoming FQ-3 earnings to be reported on 6/30/21 (estimated), with analysts expecting EPS to be $1.68, indicative of a 105% change to the upside.\nAs mentioned above, in a memory chip 'bull' cycle, pricing power comes into play and the higher prices usually tend to translate into stock outperformance driven by improvements in EBTIDA. Last I checked 1 -2 months ago, EBITDA EST for FY 21 stood around $9 BN and FY 22 EST was $16 BN. As of 26 May 21, those numbers have increased substantially to $12,772 for FY 21 and $20,228 for FY 22. Today, EST have improved yet again in the last 5 days to $12,801 for FY 21 and $20,551 for FY 22. For context, these new EST represent a 48% and 61% YOY improvement.\nSource: Tikr\nNext, we'll examine cashflow. This is paramount in a high volatility time period like today, plagued with inflation concerns, widening federal deficits, and an ever-increasing Fed balance sheet. When inflation is rampant or at least fears of it are, high growth stocks and tech stocks tend to get crushed as the market rushes to reset the absurd valuation multiples justified last year with QE and money printing running at full steam. Since the US10Y (Interest rates) affects the DCF models, valuations for certain companies will be revised downwards with less upside, with the exception of high cashflow companies. Thus, cashflow generating firms are all the more important and likely to be favored moving forward, and yet again Micron is one of them.\nSource: Tikr\nAlthough Cashflow from Operations have been steadily decreasing since 2018 where it reached a high of $17,400, I mentioned above that 2018 represented the peak of the bull cycle then where firms were chasing higher margins. 2019 - 2020 then represented the slowdown phase brought about by the surplus and after hitting a 3-year low of $8,306 in Cashflow from Operations in FY 20 that ended last August, Micron is likely ready to see substantial improvements moving forward, and EST do paint a similar picture.\nAnalysts are expecting Cashflow from Operations to improve 49% YOY in FY 21 and a further 45% in FY 22. If that were to happen, that would bring cashflow close to $18 BN, which would be a record level cashflow generated from Operations for the firm. This also trickles down to FCF EST which represents the capital left for distribution after expenses related to operations have been taken care of and non-cash expenses have been reconciled.\nFCF EST come in at an outstanding $3,344 for FY 21 and is further expected to skyrocket to $8,148 in FY 21, from a meagre $83M last year. This pace of growth points to a close to 4000% YOY increase in FY 21 and a further 144% increase compounded on FY 21 numbers next year.\nCurrently, Micron trades at an EV of around $93 BN. That represents a FCF Yield of 3.60% based on this year's EST, and an impressive 11.4% based on next year's numbers. With that, it is clear that Micron's future earnings and cashflow will serve them well in a macro environment riddled with inflation fears. This massive boost to FCF may just give them the capital they need to seal the deal with Kioxia.\nRisks\nNo matter how sound an investment may be, every one of them carries risk, and so does choosing to invest in Micron. I know the article has been long thus far so I will try to keep it short to avoid boring my 1st time readers.\nWith the high BTE's that are inherently present in the DRAM and NAND markets brought about by the large economies of scale and sheer market share the dominant 3 possess, it is hard for competitors to enter the market. Nonetheless, there have been a few attempts by Chinese companies to penetrate the market and steal market share.\nGovernment subsidies as part of the \"Made in China 2025\" plan has helped propel Chinese firms to pose a threat in the DRAM and NAND markets. Fujian Jinhua (JHICC) is one of them. As a Chinese state-owned DRAM manufacturer based in China, the firm is competing with Micron in the DRAM market as part of China's desire to gain self-sufficiency in the semiconductor industry. This is understandable given that they are the largest consumers of DRAM in the Asian-Pacific market. However, Fujian is currently facing prosecution for allegedly stealing Micron's trade secrets and proprietary information. With such bad press and a bad reputation just 4 years after being founded, it is unlikely this firm will make it far enough to compete with the likes of Micron.\nChanging industry tailwinds may also prove to be a headwind in the case that demand growth for DRAM and NAND devices slowdown. Increased CAPEX spending by Samsung and SK Hynix or the addition of new capacity could also severely impact Micron's competitive position in the market and an all-out race to buildout and ramp up capacity to capture more sales may eventually culminate in the loss of pricing power and compressed margins once again. However, given the number of upcoming industries where more advanced technologies demand more memory to store data, this probability is small in the near term at the very least.\nOther potential risks may include further unexpected impacts to Micron's power plants such as outages and floods similar to what happened in Taiwan last year.\nValuation\nFinally, I will cover the valuations behind my upside optimism with Micron. The memory market has historically tended to trade based on the EV / EBITDA multiple. Because of this, I will use this as my prime valuation method but also use Forward PE's as secondary confirmation. The chart below represents the EV / EBITDA ratios that the dominant 3 have traded at since 2016.\nA005930 refers to Samsung and A000660 refers to SK Hynix\nSource: Author's Compilations\nWe can see that Micron has been trading at a Mean EV / EBITDA multiple of 5.49 since 2016 and is trading at 9.64 levels as of last. For a conservative estimate, I will assume a ratio of 8, which is above the industry average of 7.49 in the current environment we are in today but below levels Micron is currently trading at. For context, the firm has always traded above its peers during the bull commodity cycle in 2010, 2014, and 2018 as seen in the chart below. It is important to note that since markets are future discounting mechanisms, they price in future margin expansions and pricing power. As a result, the dominant 3 usually trade at the higher multiples 1 year before the peak of the cycle.\n\nKeeping in mind that Micron has traded at multiples of 29 in 2009, 12 in 2014 and 10 in the previous cycle, 8 would be a fair multiple to assume. EBITDA EST for FY 22 next year stand at $20,551.32 as seen in the picture displayed earlier on. That would imply an EV of $164,410.56 in 22, an upside of 77% based on today's EV of $93 BN. If so, that should carry the stock forward to levels of $148 USD by next year.\nIf I were to assume a slightly aggressive and bullish multiple of 9 which is still below the peak of the prior cycle keeping in mind the law of diminishing returns, that would imply an upside of 99%, placing a price target of $167 USD for Micron.\nSince I'm a long-term investor and a conservative one, I'll stick with the $148 PT while my readers can keep the $167 potential price target in mind. I'm kidding, let's use the $148 PT which still offers a remarkable return relative to the S&P 500.\nSource: Tikr\nThe current estimates for Micron's future EPS are 5.56 for FY 21 and 10.93 for FY 22. Since we looked at FY 22 for the above valuation method, we shall maintain the same timeframe. Looking to the semiconductor industry, companies are trading at an average TTM P/E of 33.11 based on data from Q1.\nSource: CSI Market\nMicron is currently trading at a forward P/E FY 21 of 15.15 and a 7.7 based on FY 22 numbers. Assuming a fair multiple of 12, which is still below the high estimates of 15, that would give us a forward PT of $131.\nSource: Seeking Alpha\nFinal Takeaways\nBased on conservative estimates, the 2 valuation methods displayed above give us a PT for Micron of $131 based on the Forward P/E method and $148 if we were to use EV / EBITDA multiples. This represents a 56-77% upside potential.\nIn this article we covered business model, market share, industry tailwinds with a heavy focus on TAMs, liquidity strength through current ratios, cashflow, risks, and of course valuations, all of which points to high probability of a bullish future for Micron Technology.\nI have noticed that there has been some concerns regarding price action lately and how the stock seems to be having trouble finding its footing given the pretty obvious bullish thesis, and they are valid in my opinion. For bearish near-term fundamentals, the above linked article would be a nice short read.\nI personally am a long-term investor and don't place much focus on the technicals and this helps keep me grounded. There may be a very good chance that Micron will continue to trend downwards before finding support and consolidate for its next leg up. As mentioned above, the stock seems to outperform 1 year before the peak of the memory cycle whenever that may be. Hence, the memory market is to be watched closely and investors must understand how changes in the dynamics of the market regarding production & CAPEX levels can shift the tide quickly.\nAs a result, I don't see Micron to be a buy and hold forever as share price performance falls very much in line with its own commodity cycle, EBITDA, and Margin performance, which will eventually come to an end when surplus hits the deck. Yet, for the next 1-2 years, Micron remains to be one of the best plays on the current global chip shortage. If Micron continues to trend downwards in the near term, so be it, but fundamentals always catch up and based on future estimates, there's likely only one way for the share price moving forward and that isn't down.","news_type":1,"symbols_score_info":{"MU":0.9}},"isVote":1,"tweetType":1,"viewCount":1727,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116527935,"gmtCreate":1622813217427,"gmtModify":1704191668741,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/116527935","repostId":"1138212413","repostType":4,"isVote":1,"tweetType":1,"viewCount":1310,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111599991,"gmtCreate":1622685310113,"gmtModify":1704188878698,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"//<a href=\"https://laohu8.com/U/3559742442220848\">@Naaaiiviv</a>:[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","listText":"//<a href=\"https://laohu8.com/U/3559742442220848\">@Naaaiiviv</a>:[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","text":"//@Naaaiiviv:[Miser] [Miser] [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/111599991","repostId":"1115876867","repostType":4,"isVote":1,"tweetType":1,"viewCount":1169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111507617,"gmtCreate":1622685251039,"gmtModify":1704188876411,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","listText":"[Miser]&nbsp;[Miser]&nbsp;[Miser]&nbsp;","text":"[Miser] [Miser] [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/111507617","repostId":"1115876867","repostType":4,"isVote":1,"tweetType":1,"viewCount":1724,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111070000,"gmtCreate":1622646449000,"gmtModify":1704188051883,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":":(","listText":":(","text":":(","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/111070000","repostId":"1162242159","repostType":2,"repost":{"id":"1162242159","kind":"news","pubTimestamp":1622633461,"share":"https://ttm.financial/m/news/1162242159?lang=en_US&edition=fundamental","pubTime":"2021-06-02 19:31","market":"us","language":"en","title":"Tesla and 6 More Stocks That Could Tumble If the Tech Rally Stalls","url":"https://stock-news.laohu8.com/highlight/detail?id=1162242159","media":"Barrons","summary":"After a few months of steep ups and downs, technology stocks are rising again,  thanks to the latest","content":"<p>After a few months of steep ups and downs, technology stocks are rising again,&nbsp; thanks to the latest reassuring commentary from the Federal Reserve about inflation and interest rates. The Nasdaq-100 index has rebounded 5.3% from its May 12 low and is approaching 14,100 points again.</p>\n<p>Still,&nbsp;investors should expect that the good times won’t last, and be ready to take advantage, according to JPMorgan.</p>\n<p>The index, tracked by the $161 billion Invesco QQQ ETF (ticker: QQQ), has failed to break above resistance at 14,100 multiple times this year and many of its members are still showing negative momentum over longer periods. JPMorgan strategist Shawn Quigg says&nbsp;headwinds for tech stocks could last&nbsp;into the summer. He suggest investors buy put options on certain stocks in order to benefit.</p>\n<p>The trouble for tech stocks stems from concern about inflation. &nbsp;As the economy reopens, many companies have been noting shortages of raw materials, parts, and labor as they report their quarterly results. All those factors tend to boost prices, putting pressure on the Federal Reserve to raise interest rates to keep the economy from overheating.</p>\n<p>Higher rates reduce the present value of future cash flows, which is particularly problematic for expensive growth names in tech because most of the money those companies will bring in is expected years from now. As a result, investors have favored cyclical value stocks—more mature companies better positioned to benefit from an improving economy.</p>\n<p>While JPMorgan economists expect that inflation peaked in April, the market won’t be able to confirm this until late June when the May data is released. If personal consumption expenditures for May show a continued increase, that could signal still more inflation is on the way, putting some tech stocks&nbsp;at risk of additional losses,&nbsp;Quigg wrote in a research note.</p>\n<p>He looked at five popular technical signals––momentum for one, two, and three months and the 50-day and 100-day moving averages-––for the Nasdaq-100 stocks. He found that nearly 30% of Nasdaq-100 members are breaking lower, or are poised to do so, in terms of three to five of the signals, indicating negative momentum is still in place. The comparable figure for stocks in the&nbsp;S&amp;P 500&nbsp;is 15%, he said.</p>\n<p>After excluding the illiquid and volatile names from the list of Nasdaq names with negative momentum<b>,</b>Quigg recommends investors purchase July puts on&nbsp;Baidu(BIDU),Pinduoduo(PDD),Skyworks Solutions(SWKS),Qualcomm(QCOM),Okta(OKTA),Xilinx(XLNX), and&nbsp;Tesla(TSLA). Buying a put gives the buyer the right to sell the underlying asset at a stated price, making a profit if the stock’s price falls below that point.</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>Tesla and 6 More Stocks That Could Tumble If the Tech Rally Stalls</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla and 6 More Stocks That Could Tumble If the Tech Rally Stalls\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-02 19:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/how-to-score-with-options-if-the-rebound-in-tech-stocks-doesnt-last-51622582508?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a few months of steep ups and downs, technology stocks are rising again,  thanks to the latest reassuring commentary from the Federal Reserve about inflation and interest rates. The Nasdaq-100 ...</p>\n\n<a href=\"https://www.barrons.com/articles/how-to-score-with-options-if-the-rebound-in-tech-stocks-doesnt-last-51622582508?mod=hp_LATEST\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SWKS":"思佳讯","QCOM":"高通","OKTA":"Okta Inc.","PDD":"拼多多","TSLA":"特斯拉","BIDU":"百度"},"source_url":"https://www.barrons.com/articles/how-to-score-with-options-if-the-rebound-in-tech-stocks-doesnt-last-51622582508?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162242159","content_text":"After a few months of steep ups and downs, technology stocks are rising again,  thanks to the latest reassuring commentary from the Federal Reserve about inflation and interest rates. The Nasdaq-100 index has rebounded 5.3% from its May 12 low and is approaching 14,100 points again.\nStill, investors should expect that the good times won’t last, and be ready to take advantage, according to JPMorgan.\nThe index, tracked by the $161 billion Invesco QQQ ETF (ticker: QQQ), has failed to break above resistance at 14,100 multiple times this year and many of its members are still showing negative momentum over longer periods. JPMorgan strategist Shawn Quigg says headwinds for tech stocks could last into the summer. He suggest investors buy put options on certain stocks in order to benefit.\nThe trouble for tech stocks stems from concern about inflation.  As the economy reopens, many companies have been noting shortages of raw materials, parts, and labor as they report their quarterly results. All those factors tend to boost prices, putting pressure on the Federal Reserve to raise interest rates to keep the economy from overheating.\nHigher rates reduce the present value of future cash flows, which is particularly problematic for expensive growth names in tech because most of the money those companies will bring in is expected years from now. As a result, investors have favored cyclical value stocks—more mature companies better positioned to benefit from an improving economy.\nWhile JPMorgan economists expect that inflation peaked in April, the market won’t be able to confirm this until late June when the May data is released. If personal consumption expenditures for May show a continued increase, that could signal still more inflation is on the way, putting some tech stocks at risk of additional losses, Quigg wrote in a research note.\nHe looked at five popular technical signals––momentum for one, two, and three months and the 50-day and 100-day moving averages-––for the Nasdaq-100 stocks. He found that nearly 30% of Nasdaq-100 members are breaking lower, or are poised to do so, in terms of three to five of the signals, indicating negative momentum is still in place. The comparable figure for stocks in the S&P 500 is 15%, he said.\nAfter excluding the illiquid and volatile names from the list of Nasdaq names with negative momentum,Quigg recommends investors purchase July puts on Baidu(BIDU),Pinduoduo(PDD),Skyworks Solutions(SWKS),Qualcomm(QCOM),Okta(OKTA),Xilinx(XLNX), and Tesla(TSLA). Buying a put gives the buyer the right to sell the underlying asset at a stated price, making a profit if the stock’s price falls below that point.","news_type":1,"symbols_score_info":{"TSLA":0.9,"QCOM":0.9,"OKTA":0.9,"BIDU":0.9,"PDD":0.9,"XLNX":0.9,"SWKS":0.9}},"isVote":1,"tweetType":1,"viewCount":1972,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119917117,"gmtCreate":1622513113839,"gmtModify":1704185387001,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Cool]&nbsp;[Cool]&nbsp;[Cool]&nbsp;","listText":"[Cool]&nbsp;[Cool]&nbsp;[Cool]&nbsp;","text":"[Cool] [Cool] [Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/119917117","repostId":"1105273964","repostType":4,"repost":{"id":"1105273964","kind":"news","pubTimestamp":1622511256,"share":"https://ttm.financial/m/news/1105273964?lang=en_US&edition=fundamental","pubTime":"2021-06-01 09:34","market":"hk","language":"en","title":"Here Are the 11 Best Performing IPOs of the Year","url":"https://stock-news.laohu8.com/highlight/detail?id=1105273964","media":"Barron's","summary":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.That left us with 11 names. First up:CureVac, which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its ","content":"<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p>","source":"lsy1610680873436","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 Are the 11 Best Performing IPOs of the Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere Are the 11 Best Performing IPOs of the Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-01 09:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these ...</p>\n\n<a href=\"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0\">Source 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/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105273964","content_text":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.Barron’slooked at businesses that have gone public in the past 12 months to find some strong performers.First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.Another example isAcademy Sports & Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading.Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.","news_type":1,"symbols_score_info":{"BOTB.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":1160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137496663,"gmtCreate":1622373525852,"gmtModify":1704183590038,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"?&nbsp;","listText":"?&nbsp;","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/137496663","repostId":"2138312488","repostType":4,"isVote":1,"tweetType":1,"viewCount":1191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138796250,"gmtCreate":1621959793970,"gmtModify":1704365215942,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"YESS","listText":"YESS","text":"YESS","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/138796250","repostId":"1158677413","repostType":2,"isVote":1,"tweetType":1,"viewCount":1535,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195399984,"gmtCreate":1621255670848,"gmtModify":1704354685691,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a>?","listText":"<a href=\"https://laohu8.com/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a>?","text":"$IFAST CORPORATION LTD.(AIY.SI)$?","images":[{"img":"https://static.tigerbbs.com/ea9218e8c06063a4bd2c6d493a46be1f","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/195399984","isVote":1,"tweetType":1,"viewCount":2011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":192828263,"gmtCreate":1621180006052,"gmtModify":1704353672316,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/192828263","repostId":"1190431338","repostType":4,"repost":{"id":"1190431338","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1620990625,"share":"https://ttm.financial/m/news/1190431338?lang=en_US&edition=fundamental","pubTime":"2021-05-14 19:10","market":"us","language":"en","title":"Taiwan Semiconductor To Ramp Up US Chip Investment: Reuters","url":"https://stock-news.laohu8.com/highlight/detail?id=1190431338","media":"Benzinga","summary":"Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) plans to channelize incremental billions of do","content":"<p><b>Taiwan Semiconductor Manufacturing Co Ltd</b>&nbsp;(NYSE:&nbsp;TSM) plans to channelize incremental billions of dollars into the Arizona chip factories from its previously disclosed plans,&nbsp;Reuters reports.</p><p>TSM remains indifferent regarding the European plant plans.</p><p>Last year, TSM had announced an investment of $10 billion and $12 billion in the Phoenix chip factory. The company now plans around&nbsp;five additional fabs&nbsp;in Arizona apart from the current one.</p><p>Opinions remain divided over the next plant focus between the advanced 3-nanometer chipmaking technology and the slower, less-efficient 5-nanometer technology used for the first factory. The 3-nanometer plant could cost between $23 billion and $25 billion.</p><p>TSM could join the likes of&nbsp;<b>Intel Corp</b>&nbsp;(NASDAQ:&nbsp;INTC) and&nbsp;<b>Samsung Electronics Co Ltd</b>&nbsp;(OTC:&nbsp;SSNLF) to seek subsidies from the U.S. government.</p><p>President Joe Biden&nbsp;has sought $50 billion&nbsp;in funding for domestic chip manufacturing. However, concerns about the misuse of the subsidies remain for higher R&amp;D plans in favor of Taiwan instead of U.S. interests.</p><p>Interestingly, European chip and auto companies seek subsidies for the short supply of older-generation chips used by car manufacturers.</p><p>TSM’s European customer base comprises mainly less advanced chips utilized by automakers.</p><p>TSM is still open to the possibility of an older-generation auto chip plant in Europe.</p><p>TSM has hired Intel veteran Benjamin Miller as human resources head in Arizona. It has hired 250 engineers, out of which 100 have been sent to Tainan, Taiwan, for a training program.</p><p>TSM’s first Arizona factory will have an estimated output of 20,000 wafers of 12-inch silicon discs that can each contain thousands of chips per month.</p><p>However, TSM’s fabs in Taiwan can produce 100,000 wafers per month.</p><p><b>Price action:</b>&nbsp;TSM shares traded higher by 1.67% at $110.57 in the premarket session on the last check Friday.</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>Taiwan Semiconductor To Ramp Up US Chip Investment: Reuters</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\">\nTaiwan Semiconductor To Ramp Up US Chip Investment: Reuters\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/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-05-14 19:10</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Taiwan Semiconductor Manufacturing Co Ltd</b>&nbsp;(NYSE:&nbsp;TSM) plans to channelize incremental billions of dollars into the Arizona chip factories from its previously disclosed plans,&nbsp;Reuters reports.</p><p>TSM remains indifferent regarding the European plant plans.</p><p>Last year, TSM had announced an investment of $10 billion and $12 billion in the Phoenix chip factory. The company now plans around&nbsp;five additional fabs&nbsp;in Arizona apart from the current one.</p><p>Opinions remain divided over the next plant focus between the advanced 3-nanometer chipmaking technology and the slower, less-efficient 5-nanometer technology used for the first factory. The 3-nanometer plant could cost between $23 billion and $25 billion.</p><p>TSM could join the likes of&nbsp;<b>Intel Corp</b>&nbsp;(NASDAQ:&nbsp;INTC) and&nbsp;<b>Samsung Electronics Co Ltd</b>&nbsp;(OTC:&nbsp;SSNLF) to seek subsidies from the U.S. government.</p><p>President Joe Biden&nbsp;has sought $50 billion&nbsp;in funding for domestic chip manufacturing. However, concerns about the misuse of the subsidies remain for higher R&amp;D plans in favor of Taiwan instead of U.S. interests.</p><p>Interestingly, European chip and auto companies seek subsidies for the short supply of older-generation chips used by car manufacturers.</p><p>TSM’s European customer base comprises mainly less advanced chips utilized by automakers.</p><p>TSM is still open to the possibility of an older-generation auto chip plant in Europe.</p><p>TSM has hired Intel veteran Benjamin Miller as human resources head in Arizona. It has hired 250 engineers, out of which 100 have been sent to Tainan, Taiwan, for a training program.</p><p>TSM’s first Arizona factory will have an estimated output of 20,000 wafers of 12-inch silicon discs that can each contain thousands of chips per month.</p><p>However, TSM’s fabs in Taiwan can produce 100,000 wafers per month.</p><p><b>Price action:</b>&nbsp;TSM shares traded higher by 1.67% at $110.57 in the premarket session on the last check Friday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190431338","content_text":"Taiwan Semiconductor Manufacturing Co Ltd (NYSE: TSM) plans to channelize incremental billions of dollars into the Arizona chip factories from its previously disclosed plans, Reuters reports.TSM remains indifferent regarding the European plant plans.Last year, TSM had announced an investment of $10 billion and $12 billion in the Phoenix chip factory. The company now plans around five additional fabs in Arizona apart from the current one.Opinions remain divided over the next plant focus between the advanced 3-nanometer chipmaking technology and the slower, less-efficient 5-nanometer technology used for the first factory. The 3-nanometer plant could cost between $23 billion and $25 billion.TSM could join the likes of Intel Corp (NASDAQ: INTC) and Samsung Electronics Co Ltd (OTC: SSNLF) to seek subsidies from the U.S. government.President Joe Biden has sought $50 billion in funding for domestic chip manufacturing. However, concerns about the misuse of the subsidies remain for higher R&D plans in favor of Taiwan instead of U.S. interests.Interestingly, European chip and auto companies seek subsidies for the short supply of older-generation chips used by car manufacturers.TSM’s European customer base comprises mainly less advanced chips utilized by automakers.TSM is still open to the possibility of an older-generation auto chip plant in Europe.TSM has hired Intel veteran Benjamin Miller as human resources head in Arizona. It has hired 250 engineers, out of which 100 have been sent to Tainan, Taiwan, for a training program.TSM’s first Arizona factory will have an estimated output of 20,000 wafers of 12-inch silicon discs that can each contain thousands of chips per month.However, TSM’s fabs in Taiwan can produce 100,000 wafers per month.Price action: TSM shares traded higher by 1.67% at $110.57 in the premarket session on the last check Friday.","news_type":1,"symbols_score_info":{"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":1242,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":182355456,"gmtCreate":1623555283975,"gmtModify":1704206046664,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":12,"repostSize":0,"link":"https://ttm.financial/post/182355456","repostId":"2142788118","repostType":4,"isVote":1,"tweetType":1,"viewCount":3632,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3560247957239615","authorId":"3560247957239615","name":"Anonymous2","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"idStr":"3560247957239615","authorIdStr":"3560247957239615"},"content":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","text":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","html":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend"},{"author":{"id":"3560247957239615","authorId":"3560247957239615","name":"Anonymous2","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"idStr":"3560247957239615","authorIdStr":"3560247957239615"},"content":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","text":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend","html":"Trending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trending treNdingTrending trending trending trending trend"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183679448,"gmtCreate":1623331075584,"gmtModify":1704201037428,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>GOGOGO! Don’t disappoint us!","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>GOGOGO! Don’t disappoint us!","text":"$AMC Entertainment(AMC)$GOGOGO! Don’t disappoint us!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":14,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/183679448","isVote":1,"tweetType":1,"viewCount":4513,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3583386922927867","authorId":"3583386922927867","name":"Alansss","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"idStr":"3583386922927867","authorIdStr":"3583386922927867"},"content":"NO mather what will happen today, remever just hold.","text":"NO mather what will happen today, remever just hold.","html":"NO mather what will happen today, remever just hold."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891735335,"gmtCreate":1628426554527,"gmtModify":1703506135899,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/891735335","repostId":"1159872041","repostType":4,"repost":{"id":"1159872041","kind":"news","pubTimestamp":1628385224,"share":"https://ttm.financial/m/news/1159872041?lang=en_US&edition=fundamental","pubTime":"2021-08-08 09:13","market":"us","language":"en","title":"Tesla Stock: Headed to $1,200?","url":"https://stock-news.laohu8.com/highlight/detail?id=1159872041","media":"Motley Fool","summary":"Tesla deliveries more than doubled year over year in Q2.Rising demand for electric vehicles could benefit Tesla.Investors should exercise caution when it comes to analysts' price targets.It's been a wild year for Teslastock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.In February,Piper Sandler analys","content":"<p><b>Key Points</b></p>\n<ul>\n <li>Tesla deliveries more than doubled year over year in Q2.</li>\n <li>Rising demand for electric vehicles could benefit Tesla.</li>\n <li>Investors should exercise caution when it comes to analysts' price targets.</li>\n</ul>\n<p>It's been a wild year for&nbsp;<b>Tesla</b>(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the&nbsp;<b>S&amp;P 500</b>'s 18% gain this year.</p>\n<p>But one analyst thinks the stock could take off.</p>\n<p><b>\"We still really like this stock.\"</b></p>\n<p>In February,<b>Piper Sandler</b>&nbsp;analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.</p>\n<p>Following Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.</p>\n<p>Further, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.</p>\n<p>On Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.</p>\n<p><b>So what gives?</b></p>\n<p>If shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.</p>\n<p>The issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.</p>\n<p>Investors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.</p>\n<p>While a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.</p>\n<p></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>Tesla Stock: Headed to $1,200?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock: Headed to $1,200?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-08 09:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets...</p>\n\n<a href=\"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/08/07/tesla-stock-headed-to-1200/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159872041","content_text":"Key Points\n\nTesla deliveries more than doubled year over year in Q2.\nRising demand for electric vehicles could benefit Tesla.\nInvestors should exercise caution when it comes to analysts' price targets.\n\nIt's been a wild year for Tesla(NASDAQ:TSLA)stock. When the year started, shares initially surged more than 20%. But the stock has now given up all of those gains, with a year-to-date return of negative 1%. This means the stock has significantly underperformed the S&P 500's 18% gain this year.\nBut one analyst thinks the stock could take off.\n\"We still really like this stock.\"\nIn February,Piper Sandler analyst Alexander Pottermade a bold call, boosting his 12-month price target for thegrowth stockfrom $515 to $1,200. He said Tesla deliveries could increase from 500,000 vehicles in 2020 to nearly 900,000 this year. Of course, this projection was made before global supply shortages worsened. Nevertheless, Tesla is growing extremely rapidly. The company's second-quarter deliveries more than doubled compared to the year-ago quarter, rising to 201,304.\nFollowing Tesla's second-quarter earnings release late last month, the analyst reiterated this target, noting that the company looks poised to benefit from market share gains, the monetization of the company's Autopilot software, and \"underappreciated opportunities\" in Tesla's energy business, which includes revenue from battery energy storage and solar energy generation products.\nFurther, Potter pointed to Tesla's strong second-quarter operating margin of 11%, which he expects will see incremental improvement from Tesla's recently launched Autopilot subscription.\nOn Aug. 3, Potter once again reiterated an overweight rating on the stock and a $1,200 price target, saying \"We still really like this stock.\" He pointed to growing demand for battery electric vehicles overall.\nSo what gives?\nIf shares could truly rise to $1,200, why do so many investors seem to think the stock is worth so much less (based on the stock's price of just under $700 at the time of this writing). After all, if $1,200 was generally viewed by investors as a likely outcome for Tesla stock within the next 12 months, shares would be trading significantly higher today.\nThe issue boils down to the stock's forward-looking valuation. With a price-to-earnings ratio of about 370 at the time of this writing, Tesla shares are largely priced for strong growth for years to come. Since the company's valuation is based largely on profits far into the future, slight variances in views for Tesla's future growth trajectory yield dramatically different assumptions about the stock's intrinsic value today.\nInvestors, therefore, shouldn't be quick to buy Tesla stock just because one analyst has a high price target for shares. Still, Potter does notably have some good points about Tesla's strong business momentum. Even Tesla itself reiterated guidance for vehicle deliveries to grow more than 50% this year -- and that guidance was provided during a time that many companies around the world (including Tesla) are negatively impacted by supply chain shortages. Further, Tesla management noted in its second-quarter update that demand for its vehicles was at an all-time high going into Q3.\nWhile a $1,200 price target for Tesla stock would be difficult to justify, shares may be trading low enough for investors to start a small position in the stock.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3072,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195399984,"gmtCreate":1621255670848,"gmtModify":1704354685691,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a>?","listText":"<a href=\"https://laohu8.com/S/AIY.SI\">$IFAST CORPORATION LTD.(AIY.SI)$</a>?","text":"$IFAST CORPORATION LTD.(AIY.SI)$?","images":[{"img":"https://static.tigerbbs.com/ea9218e8c06063a4bd2c6d493a46be1f","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/195399984","isVote":1,"tweetType":1,"viewCount":2011,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":817857057,"gmtCreate":1630934947779,"gmtModify":1676530423957,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Like like","listText":"Like like","text":"Like like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/817857057","repostId":"1121396906","repostType":4,"isVote":1,"tweetType":1,"viewCount":3837,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100944275,"gmtCreate":1619576814997,"gmtModify":1704726223093,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AJBU.SI\">$KEPPEL DC REIT(AJBU.SI)$</a>When will it rise agagain :(","listText":"<a href=\"https://laohu8.com/S/AJBU.SI\">$KEPPEL DC REIT(AJBU.SI)$</a>When will it rise agagain :(","text":"$KEPPEL DC REIT(AJBU.SI)$When will it rise agagain :(","images":[{"img":"https://static.tigerbbs.com/484ddcc53313d8d3216a5628704079a6","width":"1242","height":"1767"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/100944275","isVote":1,"tweetType":1,"viewCount":1769,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3559521312989131","authorId":"3559521312989131","name":"Leon_Sze","avatar":"https://static.tigerbbs.com/1423edccbecef5f164a593336c457363","crmLevel":12,"crmLevelSwitch":0,"idStr":"3559521312989131","authorIdStr":"3559521312989131"},"content":"Another 2 weeks?","text":"Another 2 weeks?","html":"Another 2 weeks?"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":811196285,"gmtCreate":1630294747647,"gmtModify":1676530260240,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/811196285","repostId":"1159889394","repostType":4,"isVote":1,"tweetType":1,"viewCount":3180,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186233189,"gmtCreate":1623500056141,"gmtModify":1704205166313,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"[Cool]&nbsp;","listText":"[Cool]&nbsp;","text":"[Cool]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/186233189","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://ttm.financial/m/news/1104635261?lang=en_US&edition=fundamental","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<blockquote>\n <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>\n</blockquote>\n<p>A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p>\n<p>Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p>\n<p>The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p>\n<p>The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p>\n<p>Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p>\n<p>As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p>\n<p>Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p>\n<p>“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p>\n<p>Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p>\n<p>It was a day too late.</p>\n<p>AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p>\n<p>Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p>\n<p>The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p>\n<p>Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p>\n<p>But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p>\n<p>Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p>\n<p>Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p>\n<p>Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p>\n<p>Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</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>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders</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\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest ...</p>\n\n<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":4063,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":117674057,"gmtCreate":1623141000879,"gmtModify":1704196904251,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Let’s goo[Miser]&nbsp;","listText":"Let’s goo[Miser]&nbsp;","text":"Let’s goo[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/117674057","repostId":"1125998409","repostType":4,"isVote":1,"tweetType":1,"viewCount":4055,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":104456603,"gmtCreate":1620406807902,"gmtModify":1704343346144,"author":{"id":"3559742442220848","authorId":"3559742442220848","name":"Naaaiiviv","avatar":"https://static.tigerbbs.com/f960362e5c51023817630505ca72c17e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3559742442220848","authorIdStr":"3559742442220848"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/104456603","repostId":"2133688507","repostType":4,"repost":{"id":"2133688507","kind":"highlight","weMediaInfo":{"introduction":"The leading daily newsletter for the latest financial and business news. 33Yrs Helping Stock Investors with Investing Insights, Tools, News & More.","home_visible":0,"media_name":"Investors","id":"1085713068","head_image":"https://static.tigerbbs.com/608dd68a89ed486e18f64efe3136266c"},"pubTimestamp":1620398076,"share":"https://ttm.financial/m/news/2133688507?lang=en_US&edition=fundamental","pubTime":"2021-05-07 22:34","market":"us","language":"en","title":"Pfizer, BioNTech Seek Full FDA Approval For Covid Vaccine; Shares Pop","url":"https://stock-news.laohu8.com/highlight/detail?id=2133688507","media":"Investors","summary":"Pfizer and BioNTech asked for full Food and Drug Administration approval of their Covid vaccine on Friday, leading BioNTech stock to pop. That followed patent questions that hurt shares.","content":"<p><b>Pfizer</b> and <b>BioNTech</b> asked for full Food and Drug Administration approval of their Covid vaccine on Friday, leading BioNTech stock to pop.</p><p>The vaccine is already authorized for emergency use in people ages 16 and older. But if approved, the vaccine could stay on the market after the pandemic ends. The companies could also market directly to consumers and change the price.</p><p>\"Following the successful delivery of more than 170 million doses to the U.S. population in just a few months, the (application) submission is an important cornerstone of achieving long-term herd immunity and containing Covid-19 in the future,\" BioNTech Chief Executive Ugur Sahin said in a written statement.</p><p>In morning trading on today's stock market, BioNTech stock jumped 5.6% near 177.40. Pfizer stock rose 0.9% near 39.60.</p><h2>BioNTech Stock Pops On FDA Submission</h2><p>Pfizer and BioNTech gained emergency authorization for their Covid vaccine in December. At that time, the FDA said it would require at least six months of follow-up data in vaccinated volunteers before considering a full approval.</p><p>The data submitted Friday to the FDA include the most recent analysis from Phase 3 testing. The companies' observed the vaccine's safety and effectiveness for up to six months after the second dose, Pfizer and BioNTech said in a news release.</p><p>\"We look forward to working with the FDA to complete this rolling submission and support their review, with the goal of securing full regulatory approval of the vaccine in the coming months,\" Pfizer Chief Executive Albert Bourla said in a written statement.</p><p>Next, the FDA must decide whether the accept or reject the application. Then, the agency will set a date to review it. That could also stoke BioNTech stock.</p><h2>Vaccine Shares Recover</h2><p>The news Friday was a breath of fresh air for BioNTech stock.</p><p>Earlier this week, shares were under pressure after President Joe Biden and his administration voiced support for waiving patent rights for Covid vaccines. The goal is to help other countries make their own vaccines. BioNTech stock lost nearly 20% this week, as of Thursday's close.</p><p>On Thursday, though, German Chancellor Angela Merkel opposed waiving patent protection for vaccines. That helped BioNTech, which is based in Mainz, Germany, pare much deeper losses. At <a href=\"https://laohu8.com/S/AONE\">one</a> point, BioNTech stock was off by 15%.</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>Pfizer, BioNTech Seek Full FDA Approval For Covid Vaccine; Shares Pop</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\">\nPfizer, BioNTech Seek Full FDA Approval For Covid Vaccine; Shares Pop\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/608dd68a89ed486e18f64efe3136266c);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Investors </p>\n<p class=\"h-time\">2021-05-07 22:34</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Pfizer</b> and <b>BioNTech</b> asked for full Food and Drug Administration approval of their Covid vaccine on Friday, leading BioNTech stock to pop.</p><p>The vaccine is already authorized for emergency use in people ages 16 and older. But if approved, the vaccine could stay on the market after the pandemic ends. The companies could also market directly to consumers and change the price.</p><p>\"Following the successful delivery of more than 170 million doses to the U.S. population in just a few months, the (application) submission is an important cornerstone of achieving long-term herd immunity and containing Covid-19 in the future,\" BioNTech Chief Executive Ugur Sahin said in a written statement.</p><p>In morning trading on today's stock market, BioNTech stock jumped 5.6% near 177.40. Pfizer stock rose 0.9% near 39.60.</p><h2>BioNTech Stock Pops On FDA Submission</h2><p>Pfizer and BioNTech gained emergency authorization for their Covid vaccine in December. At that time, the FDA said it would require at least six months of follow-up data in vaccinated volunteers before considering a full approval.</p><p>The data submitted Friday to the FDA include the most recent analysis from Phase 3 testing. The companies' observed the vaccine's safety and effectiveness for up to six months after the second dose, Pfizer and BioNTech said in a news release.</p><p>\"We look forward to working with the FDA to complete this rolling submission and support their review, with the goal of securing full regulatory approval of the vaccine in the coming months,\" Pfizer Chief Executive Albert Bourla said in a written statement.</p><p>Next, the FDA must decide whether the accept or reject the application. Then, the agency will set a date to review it. That could also stoke BioNTech stock.</p><h2>Vaccine Shares Recover</h2><p>The news Friday was a breath of fresh air for BioNTech stock.</p><p>Earlier this week, shares were under pressure after President Joe Biden and his administration voiced support for waiving patent rights for Covid vaccines. The goal is to help other countries make their own vaccines. BioNTech stock lost nearly 20% this week, as of Thursday's close.</p><p>On Thursday, though, German Chancellor Angela Merkel opposed waiving patent protection for vaccines. That helped BioNTech, which is based in Mainz, Germany, pare much deeper losses. At <a href=\"https://laohu8.com/S/AONE\">one</a> point, BioNTech stock was off by 15%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133688507","content_text":"Pfizer and BioNTech asked for full Food and Drug Administration approval of their Covid vaccine on Friday, leading BioNTech stock to pop.The vaccine is already authorized for emergency use in people ages 16 and older. But if approved, the vaccine could stay on the market after the pandemic ends. The companies could also market directly to consumers and change the price.\"Following the successful delivery of more than 170 million doses to the U.S. population in just a few months, the (application) submission is an important cornerstone of achieving long-term herd immunity and containing Covid-19 in the future,\" BioNTech Chief Executive Ugur Sahin said in a written statement.In morning trading on today's stock market, BioNTech stock jumped 5.6% near 177.40. Pfizer stock rose 0.9% near 39.60.BioNTech Stock Pops On FDA SubmissionPfizer and BioNTech gained emergency authorization for their Covid vaccine in December. At that time, the FDA said it would require at least six months of follow-up data in vaccinated volunteers before considering a full approval.The data submitted Friday to the FDA include the most recent analysis from Phase 3 testing. The companies' observed the vaccine's safety and effectiveness for up to six months after the second dose, Pfizer and BioNTech said in a news release.\"We look forward to working with the FDA to complete this rolling submission and support their review, with the goal of securing full regulatory approval of the vaccine in the coming months,\" Pfizer Chief Executive Albert Bourla said in a written statement.Next, the FDA must decide whether the accept or reject the application. Then, the agency will set a date to review it. That could also stoke BioNTech stock.Vaccine Shares RecoverThe news Friday was a breath of fresh air for BioNTech stock.Earlier this week, shares were under pressure after President Joe Biden and his administration voiced support for waiving patent rights for Covid vaccines. The goal is to help other countries make their own vaccines. BioNTech stock lost nearly 20% this week, as of Thursday's close.On Thursday, though, German Chancellor Angela Merkel opposed waiving patent protection for vaccines. That helped BioNTech, which is based in Mainz, Germany, pare much deeper losses. At one point, BioNTech stock was off by 15%.","news_type":1,"symbols_score_info":{"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}