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OU2
2021-07-09
song
Sorry, the original content has been removed
OU2
2021-06-26
some thing new today?
OU2
2021-06-26
ok
It Always Ends The Same Way: Crisis, Crash, Collapse
OU2
2021-06-24
all good
Comcast Says 'Pure Speculation' It's Mulling Bids for ViacomCBS or Roku
OU2
2021-06-24
new IPO worth?
OU2
2021-06-24
Really?
Sorry, the original content has been removed
OU2
2021-06-23
Most likely will proceed with this one and deliver.
OU2
2021-06-23
why all green
Sorry, the original content has been removed
OU2
2021-06-23
thats ok
Sorry, the original content has been removed
OU2
2021-06-22
this is flag
OU2
2021-06-22
all right
Sorry, the original content has been removed
OU2
2021-06-21
New 12 IPO
OU2
2021-06-21
Hi
Sorry, the original content has been removed
OU2
2021-06-19
what is ipo today
OU2
2021-05-26
jump hight drop fast
Why The Joint Corp. Stock Jumped 15.5% Today
OU2
2021-05-21
Is way to go
Elon Musk leaves Europeans guessing on location of future Tesla plant
OU2
2021-05-21
no comment
Sorry, the original content has been removed
OU2
2021-05-21
Survey came as 40% of respondent banks reported faster-than-expected growth in en
U.S. banks ready to start limiting balance sheet growth - Fed survey
OU2
2021-04-18
$Tiger Brokers(TIGR)$
tomorrow evening we raise the tiger to the moon..
OU2
2021-04-18
Will the fund divert to tech stock
U.S. stocks gained in Friday open. Blockchain stocks fell
Go to Tiger App to see more news
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thing new today?","listText":"some thing new today?","text":"some thing new today?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125300953","isVote":1,"tweetType":1,"viewCount":2642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125977439,"gmtCreate":1624645582321,"gmtModify":1703842747236,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/125977439","repostId":"1192734381","repostType":4,"repost":{"id":"1192734381","kind":"news","pubTimestamp":1624607687,"share":"https://ttm.financial/m/news/1192734381?lang=en_US&edition=fundamental","pubTime":"2021-06-25 15:54","market":"us","language":"en","title":"It Always Ends The Same Way: Crisis, Crash, Collapse","url":"https://stock-news.laohu8.com/highlight/detail?id=1192734381","media":"zerohedge","summary":"Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.","content":"<blockquote>\n <i>Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.</i>\n</blockquote>\n<p><img src=\"https://static.tigerbbs.com/901d35cf67cdca7a9c9da3d17ddb2d83\" tg-width=\"500\" tg-height=\"456\"></p>\n<p><b>One of the most under-appreciated investment insights is courtesy of Mike Tyson: </b><b><i>\"Everybody has a plan until they get punched in the mouth.\"</i></b> At this moment in history, the plan of most market participants is to place their full faith and trust in the status quo's ability to keep asset prices lofting ever higher, essentially forever.</p>\n<p><b>In other words, the vast majority of punters are convinced they will never suffer the indignity of getting punched in the mouth by a market crash.</b> What makes this confidence so interesting is <b>massively distorted markets always end the same way: crisis, crash and collapse.</b></p>\n<p><b>The core dynamic here is distorted markets provide false feedback and misleading information which then lead to participants making catastrophically misguided decisions.</b> Investment decisions made on poor information will also be poor, leading participants to end up poor, to their very great surprise.</p>\n<p><b>The surprise comes from the falsity of the feedback, as those who are distorting markets want punters to believe \"the market\" is functioning transparently.</b> If you're manipulating the market, the last thing you want is for the unwary marks to discover that the market is generating false signals and misleading information on risk, as <i>knowing the market is being distorted would alert them to the extraordinary risks intrinsic to heavily distorted markets.</i></p>\n<p><b>The risks arise from the disconnect between the precariousness of the manipulated market and the extreme confidence punters have in its stability and predictability.</b> The predictability comes not from transparent feedback and market signals but from the manipulation. This stability is entirely fabricated and therefore it lacks the <i>dynamic stability of truly open markets.</i></p>\n<p>Markets that are being distorted/manipulated to achieve a goal that is impossible in truly open markets--for example, markets that only loft higher with near-zero volatility--lull participants into a dangerous perception that because markets are so stable, risk has dissipated.</p>\n<p><img src=\"https://static.tigerbbs.com/e420e77dbab689d93ea0a8d481793dd0\" tg-width=\"500\" tg-height=\"430\"></p>\n<p><b>In actuality, risk is skyrocketing beneath the surface of the artificial stability because the market has been stripped of the mechanisms of </b><b><i>dynamic stability</i></b><b>.</b> This artificial stability derived from sustained manipulation has the superficial appearance of low-risk markets, i.e., low levels of volatility, but this lack of volatility derives not from transparency but from behind-the-scenes suppression of volatility.</p>\n<p><b>Another source of risk in distorted markets is the </b><b><i>illusion of liquidity</i></b><b>:</b> in low-volume markets of suppressed volatility, participants are encouraged to believe that they can buy and sell whatever securities they want in whatever volumes they want without disturbing market pricing and liquidity. In other words, participants are led to believe that the market will always have a bid due to the near-infinite depth of liquidity: no matter how many billions of dollars of securities you want to sell, there will always be a bid for your shares.</p>\n<p><b>In actual fact, the bid is paper-thin and it vanishes altogether once selling rises above very low levels.</b> Heavily manipulated markets are exquisitely sensitive to selling because the entire point is to limit any urge to sell while encouraging the greed to increase gains by buying more.</p>\n<p><b>The illusions of low risk, essentially guaranteed gains for those who increase their positions and near-infinite liquidity generate overwhelming incentives to borrow more and leverage it to the hilt to maximize gains.</b> The blissfully delusional punter feels the decision to borrow the maximum available and leverage it to the maximum is entirely rational due to the \"obvious\" absence of risk, the \"obvious\" guaranteed gains offered by markets lofting ever higher like clockwork and the \"obvious\" abundance of liquidity, assuring the punter they can always sell their entire position at today's prices and lock in profits at any time.</p>\n<p><b>On top of all these grossly misleading distortions, punters have been encouraged to believe in the ultimate distortion: the Federal Reserve will never let markets decline again, ever.</b> This is the perfection of <i>moral hazard</i>: <b>risk has been disconnected from consequence.</b></p>\n<p>In this perfection of <i>moral hazard</i>, punters consider it entirely rational to increase extremely risky speculative bets because <b>the Federal Reserve will never let markets decline.</b> Given the abundant evidence behind this assumption, it would be irrational not to ramp up crazy-risky speculative bets to the maximum <b>because losses are now impossible thanks to the Fed's implicit promise to never let markets drop.</b></p>\n<p><b>This is why distorted, manipulated markets always end the same way:</b> first, in an unexpected emergence of risk, which was presumed to be banished; second, a market crash as the paper-thin bid disappears and prices flash-crash to levels that wipe out all those forced to sell by margin calls, and then the collapse of faith in the manipulators (the Fed), collapse of the collateral supporting trillions of dollars in highly leveraged debt and then the collapse of the entire delusion-based financial system.</p>\n<p><img src=\"https://static.tigerbbs.com/db208f6307ade39a0c0f27fcdf7aa080\" tg-width=\"500\" tg-height=\"609\"></p>\n<p><b>Gordon Long and I illuminate the many layers of distortion, manipulation and moral hazard in our new video presentation, It Always Ends The Same Way</b> (34:33). Amidst the ruins generated by well-meaning manipulation and distortion, the \"well meaning\" part will leave an extremely long-lasting bitter taste in all those who failed to differentiate between the false signals and distorted information of manipulated markets and the trustworthy transparency of signals arising in truly open markets.</p>\n<p><b>In summary: risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.</b> As I often note here,<i>risk cannot be extinguished, it can only be transferred.</i> By distorting markets to create an illusion of low-risk stability, the Federal Reserve has transferred this fatal supernova of risk to the entire financial system.</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>It Always Ends The Same Way: Crisis, Crash, Collapse</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\">\nIt Always Ends The Same Way: Crisis, Crash, Collapse\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-25 15:54 GMT+8 <a href=https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.\n\n\nOne of the most under-appreciated investment insights is courtesy of ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/it-always-ends-same-way-crisis-crash-collapse","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1192734381","content_text":"Risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market.\n\n\nOne of the most under-appreciated investment insights is courtesy of Mike Tyson: \"Everybody has a plan until they get punched in the mouth.\" At this moment in history, the plan of most market participants is to place their full faith and trust in the status quo's ability to keep asset prices lofting ever higher, essentially forever.\nIn other words, the vast majority of punters are convinced they will never suffer the indignity of getting punched in the mouth by a market crash. What makes this confidence so interesting is massively distorted markets always end the same way: crisis, crash and collapse.\nThe core dynamic here is distorted markets provide false feedback and misleading information which then lead to participants making catastrophically misguided decisions. Investment decisions made on poor information will also be poor, leading participants to end up poor, to their very great surprise.\nThe surprise comes from the falsity of the feedback, as those who are distorting markets want punters to believe \"the market\" is functioning transparently. If you're manipulating the market, the last thing you want is for the unwary marks to discover that the market is generating false signals and misleading information on risk, as knowing the market is being distorted would alert them to the extraordinary risks intrinsic to heavily distorted markets.\nThe risks arise from the disconnect between the precariousness of the manipulated market and the extreme confidence punters have in its stability and predictability. The predictability comes not from transparent feedback and market signals but from the manipulation. This stability is entirely fabricated and therefore it lacks the dynamic stability of truly open markets.\nMarkets that are being distorted/manipulated to achieve a goal that is impossible in truly open markets--for example, markets that only loft higher with near-zero volatility--lull participants into a dangerous perception that because markets are so stable, risk has dissipated.\n\nIn actuality, risk is skyrocketing beneath the surface of the artificial stability because the market has been stripped of the mechanisms of dynamic stability. This artificial stability derived from sustained manipulation has the superficial appearance of low-risk markets, i.e., low levels of volatility, but this lack of volatility derives not from transparency but from behind-the-scenes suppression of volatility.\nAnother source of risk in distorted markets is the illusion of liquidity: in low-volume markets of suppressed volatility, participants are encouraged to believe that they can buy and sell whatever securities they want in whatever volumes they want without disturbing market pricing and liquidity. In other words, participants are led to believe that the market will always have a bid due to the near-infinite depth of liquidity: no matter how many billions of dollars of securities you want to sell, there will always be a bid for your shares.\nIn actual fact, the bid is paper-thin and it vanishes altogether once selling rises above very low levels. Heavily manipulated markets are exquisitely sensitive to selling because the entire point is to limit any urge to sell while encouraging the greed to increase gains by buying more.\nThe illusions of low risk, essentially guaranteed gains for those who increase their positions and near-infinite liquidity generate overwhelming incentives to borrow more and leverage it to the hilt to maximize gains. The blissfully delusional punter feels the decision to borrow the maximum available and leverage it to the maximum is entirely rational due to the \"obvious\" absence of risk, the \"obvious\" guaranteed gains offered by markets lofting ever higher like clockwork and the \"obvious\" abundance of liquidity, assuring the punter they can always sell their entire position at today's prices and lock in profits at any time.\nOn top of all these grossly misleading distortions, punters have been encouraged to believe in the ultimate distortion: the Federal Reserve will never let markets decline again, ever. This is the perfection of moral hazard: risk has been disconnected from consequence.\nIn this perfection of moral hazard, punters consider it entirely rational to increase extremely risky speculative bets because the Federal Reserve will never let markets decline. Given the abundant evidence behind this assumption, it would be irrational not to ramp up crazy-risky speculative bets to the maximum because losses are now impossible thanks to the Fed's implicit promise to never let markets drop.\nThis is why distorted, manipulated markets always end the same way: first, in an unexpected emergence of risk, which was presumed to be banished; second, a market crash as the paper-thin bid disappears and prices flash-crash to levels that wipe out all those forced to sell by margin calls, and then the collapse of faith in the manipulators (the Fed), collapse of the collateral supporting trillions of dollars in highly leveraged debt and then the collapse of the entire delusion-based financial system.\n\nGordon Long and I illuminate the many layers of distortion, manipulation and moral hazard in our new video presentation, It Always Ends The Same Way (34:33). Amidst the ruins generated by well-meaning manipulation and distortion, the \"well meaning\" part will leave an extremely long-lasting bitter taste in all those who failed to differentiate between the false signals and distorted information of manipulated markets and the trustworthy transparency of signals arising in truly open markets.\nIn summary: risk has not been extinguished, it is expanding geometrically beneath the false stability of a monstrously manipulated market. As I often note here,risk cannot be extinguished, it can only be transferred. By distorting markets to create an illusion of low-risk stability, the Federal Reserve has transferred this fatal supernova of risk to the entire financial system.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126921197,"gmtCreate":1624542642719,"gmtModify":1703839854028,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"all good","listText":"all good","text":"all good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126921197","repostId":"1184881454","repostType":4,"repost":{"id":"1184881454","kind":"news","pubTimestamp":1624533663,"share":"https://ttm.financial/m/news/1184881454?lang=en_US&edition=fundamental","pubTime":"2021-06-24 19:21","market":"us","language":"en","title":"Comcast Says 'Pure Speculation' It's Mulling Bids for ViacomCBS or Roku","url":"https://stock-news.laohu8.com/highlight/detail?id=1184881454","media":"The Street","summary":"ViacomCBS and Roku are both in the spotlight on a report that Comcast is pondering a bid for one of ","content":"<blockquote>\n <b>ViacomCBS and Roku are both in the spotlight on a report that Comcast is pondering a bid for one of the companies, even as Comcast calls it \"pure speculation.\"</b>\n</blockquote>\n<p>ViacomCBS (<b>VIACA</b>) -Get Report and Roku (<b>ROKU</b>) -Get Report were both in the spotlight on Thursday following a report that Comcast (<b>CMCSA</b>) -Get Report was pondering a bid for one of the companies.</p>\n<p>Comcast called the possibility \"pure speculation.\"</p>\n<p>Citing unnamed sources, The Wall Street Journal on Wednesday reported that Comcast CEO Brian Roberts has considered a transaction with ViacomCBS or an acquisition of Roku, though at the same time has made clear that Comcast doesn’t need to pursue a merger to grow its TV, movie and streaming portfolio.</p>\n<p>A Comcast spokesperson told CNBC on Wednesday that the discussions were \"pure speculation.\" Even so, the possibility of another big media merger pushed both ViacomCBS and Roku shares higher.</p>\n<p>ViacomCBS shares ended the trading day Wednesday up 2.7% to $41.84, their biggest one-day gain in almost a month. Roku shares ended the trading day Wednesday up 4.5% at $421.70. The stock was up 1.02% at $425.99 in premarket trading on Thursday.</p>\n<p>The speculation follows a flurry of recent merger activity in the media space, including Amazon’s (<b>AMZN</b>) -Get Report pending $8.45 billion acquisition of Metro-Goldwyn-Mayer and AT&T’s (<b>T</b>) -Get Report agreement to combine its WarnerMedia division with Discovery (<b>DISCA</b>) -Get Report. ViacomCBS itself was created out of a merger of Viacom and CBS completed in late 2019.</p>\n<p>Comcast owns NBCUniversal, a sprawling entertainment operation that includes TV and movies, though its Peacock streaming service is playing catch-up with Netflix (<b>NFLX</b>) -Get Report and Walt Disney (<b>DIS</b>) -Get Report, in particular Disney's Disney+ service.</p>\n<p>At the same time, Roberts is contemplating whether to continue to build out its offerings internally, particularly on the streaming side, or whether to buy something like ViacomCBS,whose stock has plunged since topping out at $101.97 on March 15.</p>\n<p>ViacomCBS and Discovery both posted double-digit percentage losses in March after margin calls against family office Archegos Capital Managementsparked forced block sales of both companies' shares.</p>\n<p>Shares of Comcast were up 1.66% at $56.40 in premarket trading. The stock ended the trading day Wednesday down 3.73% at $55.48.</p>","source":"lsy1610613172068","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Comcast Says 'Pure Speculation' It's Mulling Bids for ViacomCBS or Roku</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nComcast Says 'Pure Speculation' It's Mulling Bids for ViacomCBS or Roku\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 19:21 GMT+8 <a href=https://www.thestreet.com/investing/viacomcbs-roku-comcast-takeover-reports-062421><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ViacomCBS and Roku are both in the spotlight on a report that Comcast is pondering a bid for one of the companies, even as Comcast calls it \"pure speculation.\"\n\nViacomCBS (VIACA) -Get Report and Roku ...</p>\n\n<a href=\"https://www.thestreet.com/investing/viacomcbs-roku-comcast-takeover-reports-062421\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc","CMCSA":"康卡斯特"},"source_url":"https://www.thestreet.com/investing/viacomcbs-roku-comcast-takeover-reports-062421","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184881454","content_text":"ViacomCBS and Roku are both in the spotlight on a report that Comcast is pondering a bid for one of the companies, even as Comcast calls it \"pure speculation.\"\n\nViacomCBS (VIACA) -Get Report and Roku (ROKU) -Get Report were both in the spotlight on Thursday following a report that Comcast (CMCSA) -Get Report was pondering a bid for one of the companies.\nComcast called the possibility \"pure speculation.\"\nCiting unnamed sources, The Wall Street Journal on Wednesday reported that Comcast CEO Brian Roberts has considered a transaction with ViacomCBS or an acquisition of Roku, though at the same time has made clear that Comcast doesn’t need to pursue a merger to grow its TV, movie and streaming portfolio.\nA Comcast spokesperson told CNBC on Wednesday that the discussions were \"pure speculation.\" Even so, the possibility of another big media merger pushed both ViacomCBS and Roku shares higher.\nViacomCBS shares ended the trading day Wednesday up 2.7% to $41.84, their biggest one-day gain in almost a month. Roku shares ended the trading day Wednesday up 4.5% at $421.70. The stock was up 1.02% at $425.99 in premarket trading on Thursday.\nThe speculation follows a flurry of recent merger activity in the media space, including Amazon’s (AMZN) -Get Report pending $8.45 billion acquisition of Metro-Goldwyn-Mayer and AT&T’s (T) -Get Report agreement to combine its WarnerMedia division with Discovery (DISCA) -Get Report. ViacomCBS itself was created out of a merger of Viacom and CBS completed in late 2019.\nComcast owns NBCUniversal, a sprawling entertainment operation that includes TV and movies, though its Peacock streaming service is playing catch-up with Netflix (NFLX) -Get Report and Walt Disney (DIS) -Get Report, in particular Disney's Disney+ service.\nAt the same time, Roberts is contemplating whether to continue to build out its offerings internally, particularly on the streaming side, or whether to buy something like ViacomCBS,whose stock has plunged since topping out at $101.97 on March 15.\nViacomCBS and Discovery both posted double-digit percentage losses in March after margin calls against family office Archegos Capital Managementsparked forced block sales of both companies' shares.\nShares of Comcast were up 1.66% at $56.40 in premarket trading. The stock ended the trading day Wednesday down 3.73% at $55.48.","news_type":1,"symbols_score_info":{"CMCSA":0.9,"ROKU":0.9,"VIACA":0.9}},"isVote":1,"tweetType":1,"viewCount":2966,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126921077,"gmtCreate":1624542630699,"gmtModify":1703839855001,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"new IPO worth?","listText":"new IPO worth?","text":"new IPO worth?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/126921077","isVote":1,"tweetType":1,"viewCount":2271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121228137,"gmtCreate":1624466417829,"gmtModify":1703837731064,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"Really?","listText":"Really?","text":"Really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/121228137","repostId":"1170395888","repostType":4,"isVote":1,"tweetType":1,"viewCount":2473,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129570012,"gmtCreate":1624378991436,"gmtModify":1703835085841,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"Most likely will proceed with this one and deliver.","listText":"Most likely will proceed with this one and deliver.","text":"Most likely will proceed with this one and deliver.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129570012","isVote":1,"tweetType":1,"viewCount":3314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129544446,"gmtCreate":1624378944485,"gmtModify":1703835082445,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"why all green ","listText":"why all green ","text":"why all 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right","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120381757","repostId":"1186997776","repostType":4,"isVote":1,"tweetType":1,"viewCount":1038,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164227274,"gmtCreate":1624211115498,"gmtModify":1703830705909,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"New 12 IPO","listText":"New 12 IPO","text":"New 12 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","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/164227194","repostId":"1113942445","repostType":4,"isVote":1,"tweetType":1,"viewCount":1325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":162949523,"gmtCreate":1624032629362,"gmtModify":1703827271591,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"what is ipo today","listText":"what is ipo today","text":"what is ipo today","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/162949523","isVote":1,"tweetType":1,"viewCount":988,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138795553,"gmtCreate":1621960090672,"gmtModify":1704365220210,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"jump hight drop fast","listText":"jump hight drop fast","text":"jump hight drop fast","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/138795553","repostId":"1112499666","repostType":4,"repost":{"id":"1112499666","kind":"news","pubTimestamp":1621955325,"share":"https://ttm.financial/m/news/1112499666?lang=en_US&edition=fundamental","pubTime":"2021-05-25 23:08","market":"us","language":"en","title":"Why The Joint Corp. Stock Jumped 15.5% Today","url":"https://stock-news.laohu8.com/highlight/detail?id=1112499666","media":"fool","summary":"What happenedShares of chiropractic chainThe Joint Corp.(NASDAQ:JYNT)jumped 15.5% through 10 a.m. ED","content":"<p>What happened</p><p>Shares of chiropractic chain<b>The Joint Corp.</b>(NASDAQ:JYNT)jumped 15.5% through 10 a.m. EDT this morning. The primary catalyst for the move appears to be the company's announcement that its stock will join the<b>S&P SmallCap 600</b>index before market open on Thursday, May 27.</p><p>Investors are presumably rushing to buy The Joint stock now in order to \"front-run\" index funds and ETFs that mimic the movements of the S&P SmallCap 600. ThosefundsandETFswill have to buy shares of The Joint themselves on Thursday, in order to accurately reflect the composition of the index.</p><p>So what</p><p>But that's not the only reason to be interested in The Joint stock. Earlier this month,The Joint reported earningsfor its first fiscal quarter 2021.</p><p>Same-store sales jumped 21%, and total sales (from both existing and newly opened storefronts) grew 29% year over year, with net income of $0.16 per share -- nearly triple last year's Q1 total.</p><p>Now what</p><p>Excitement over The Joint stock could die down after the S&P SmallCap 600 index adjustment is made.Longer-term, though, The Joint stock could enjoy strength if management hits its goal of generating between $73.5 million and $77.5 million in revenue this year, and positive adjusted EBITDA between $11 million and $12.5 million. Wall Street believes the company could earn $0.35 per share in profit, nearly four times what the company earned in 2020.</p><p>That could be enough to keep today's stock price rally going.</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>Why The Joint Corp. Stock Jumped 15.5% Today</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\">\nWhy The Joint Corp. Stock Jumped 15.5% Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-25 23:08 GMT+8 <a href=https://www.fool.com/investing/2021/05/25/why-the-joint-corp-stock-jumped-155-today/><strong>fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happenedShares of chiropractic chainThe Joint Corp.(NASDAQ:JYNT)jumped 15.5% through 10 a.m. EDT this morning. The primary catalyst for the move appears to be the company's announcement that its ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/25/why-the-joint-corp-stock-jumped-155-today/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"JYNT":"The Joint Corp."},"source_url":"https://www.fool.com/investing/2021/05/25/why-the-joint-corp-stock-jumped-155-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112499666","content_text":"What happenedShares of chiropractic chainThe Joint Corp.(NASDAQ:JYNT)jumped 15.5% through 10 a.m. EDT this morning. The primary catalyst for the move appears to be the company's announcement that its stock will join theS&P SmallCap 600index before market open on Thursday, May 27.Investors are presumably rushing to buy The Joint stock now in order to \"front-run\" index funds and ETFs that mimic the movements of the S&P SmallCap 600. ThosefundsandETFswill have to buy shares of The Joint themselves on Thursday, in order to accurately reflect the composition of the index.So whatBut that's not the only reason to be interested in The Joint stock. Earlier this month,The Joint reported earningsfor its first fiscal quarter 2021.Same-store sales jumped 21%, and total sales (from both existing and newly opened storefronts) grew 29% year over year, with net income of $0.16 per share -- nearly triple last year's Q1 total.Now whatExcitement over The Joint stock could die down after the S&P SmallCap 600 index adjustment is made.Longer-term, though, The Joint stock could enjoy strength if management hits its goal of generating between $73.5 million and $77.5 million in revenue this year, and positive adjusted EBITDA between $11 million and $12.5 million. Wall Street believes the company could earn $0.35 per share in profit, nearly four times what the company earned in 2020.That could be enough to keep today's stock price rally going.","news_type":1,"symbols_score_info":{"JYNT":0.9}},"isVote":1,"tweetType":1,"viewCount":1048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139857135,"gmtCreate":1621608385127,"gmtModify":1704360530407,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"Is way to go ","listText":"Is way to go ","text":"Is way to go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139857135","repostId":"2137901923","repostType":4,"repost":{"id":"2137901923","kind":"highlight","pubTimestamp":1621606683,"share":"https://ttm.financial/m/news/2137901923?lang=en_US&edition=fundamental","pubTime":"2021-05-21 22:18","market":"us","language":"en","title":"Elon Musk leaves Europeans guessing on location of future Tesla plant","url":"https://stock-news.laohu8.com/highlight/detail?id=2137901923","media":"Barrons","summary":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government i","content":"<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.</p>\n<ul>\n <li>Musk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw British media speculate that he might change his mind.</li>\n <li>The U.K. government’s Office for Investment, created last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.</li>\n <li>Musk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars has been delayed from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.</li>\n <li>Tesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk said on Friday, while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.</li>\n</ul>\n<p><b>The outlook:</b>Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.</p>\n<p>If Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.</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>Elon Musk leaves Europeans guessing on location of future Tesla plant</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk leaves Europeans guessing on location of future Tesla plant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 22:18 GMT+8 <a href=https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. ...</p>\n\n<a href=\"https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA\">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.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137901923","content_text":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.\n\nMusk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw British media speculate that he might change his mind.\nThe U.K. government’s Office for Investment, created last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.\nMusk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars has been delayed from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.\nTesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk said on Friday, while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.\n\nThe outlook:Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.\nIf Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":957,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139375530,"gmtCreate":1621596898720,"gmtModify":1704360281593,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"no comment","listText":"no comment","text":"no comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139375530","repostId":"1139943283","repostType":4,"isVote":1,"tweetType":1,"viewCount":1076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130581622,"gmtCreate":1621556844766,"gmtModify":1704359514141,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"Survey came as 40% of respondent banks reported faster-than-expected growth in en","listText":"Survey came as 40% of respondent banks reported faster-than-expected growth in en","text":"Survey came as 40% of respondent banks reported faster-than-expected growth in en","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/130581622","repostId":"2136920944","repostType":4,"repost":{"id":"2136920944","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1621522665,"share":"https://ttm.financial/m/news/2136920944?lang=en_US&edition=fundamental","pubTime":"2021-05-20 22:57","market":"us","language":"en","title":"U.S. banks ready to start limiting balance sheet growth - Fed survey","url":"https://stock-news.laohu8.com/highlight/detail?id=2136920944","media":"Reuters","summary":"About two-thirds of U.S. banks are either already taking measures to limit the growth in their balan","content":"<p>About two-thirds of U.S. banks are either already taking measures to limit the growth in their balance sheets or would take steps to cap them if they continue growing, a Federal Reserve survey of bank finance officers showed on Thursday.</p>\n<p>The concerns about the size of their balance sheets reflected in the Senior Financial Officer Survey came as 40% of respondent banks reported faster-than-expected growth in end-of-day reserve balances. The largest factor driving that growth was deposits, which broadly are growing faster than bank officials had estimated.</p>\n<p>Should banks broadly begin limiting their balance sheets, it could have implications for the availability of bank credit as the U.S. economy pulls out of the recession triggered by the COVID-19 pandemic.</p>\n<p>\"Among the two-thirds of respondents who reported their bank is limiting, or would limit under certain growth assumptions, the size of its balance sheet, almost half rated net interest margin pressure and return on assets as important or very important factors in that decision,\" the survey said.</p>\n<p>Likely measures they may take include allowing outstanding wholesale funding liabilities to mature without replacement and reducing deposit rates on non-operational deposits, according to the survey, which included banks that account for roughly 75% of the reserves in the U.S. banking system.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. banks ready to start limiting balance sheet growth - Fed survey</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\">\nU.S. banks ready to start limiting balance sheet growth - Fed survey\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-20 22:57</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>About two-thirds of U.S. banks are either already taking measures to limit the growth in their balance sheets or would take steps to cap them if they continue growing, a Federal Reserve survey of bank finance officers showed on Thursday.</p>\n<p>The concerns about the size of their balance sheets reflected in the Senior Financial Officer Survey came as 40% of respondent banks reported faster-than-expected growth in end-of-day reserve balances. The largest factor driving that growth was deposits, which broadly are growing faster than bank officials had estimated.</p>\n<p>Should banks broadly begin limiting their balance sheets, it could have implications for the availability of bank credit as the U.S. economy pulls out of the recession triggered by the COVID-19 pandemic.</p>\n<p>\"Among the two-thirds of respondents who reported their bank is limiting, or would limit under certain growth assumptions, the size of its balance sheet, almost half rated net interest margin pressure and return on assets as important or very important factors in that decision,\" the survey said.</p>\n<p>Likely measures they may take include allowing outstanding wholesale funding liabilities to mature without replacement and reducing deposit rates on non-operational deposits, according to the survey, which included banks that account for roughly 75% of the reserves in the U.S. banking system.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BAC":"美国银行",".IXIC":"NASDAQ Composite","MS":"摩根士丹利",".DJI":"道琼斯","JPM":"摩根大通","WFC":"富国银行","GS":"高盛",".SPX":"S&P 500 Index","C":"花旗"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136920944","content_text":"About two-thirds of U.S. banks are either already taking measures to limit the growth in their balance sheets or would take steps to cap them if they continue growing, a Federal Reserve survey of bank finance officers showed on Thursday.\nThe concerns about the size of their balance sheets reflected in the Senior Financial Officer Survey came as 40% of respondent banks reported faster-than-expected growth in end-of-day reserve balances. The largest factor driving that growth was deposits, which broadly are growing faster than bank officials had estimated.\nShould banks broadly begin limiting their balance sheets, it could have implications for the availability of bank credit as the U.S. economy pulls out of the recession triggered by the COVID-19 pandemic.\n\"Among the two-thirds of respondents who reported their bank is limiting, or would limit under certain growth assumptions, the size of its balance sheet, almost half rated net interest margin pressure and return on assets as important or very important factors in that decision,\" the survey said.\nLikely measures they may take include allowing outstanding wholesale funding liabilities to mature without replacement and reducing deposit rates on non-operational deposits, according to the survey, which included banks that account for roughly 75% of the reserves in the U.S. banking system.","news_type":1,"symbols_score_info":{"JPM":0.9,"GS":0.9,"WFC":0.9,".IXIC":0.9,"BAC":0.9,".SPX":0.9,"MS":0.9,".DJI":0.9,"C":0.9}},"isVote":1,"tweetType":1,"viewCount":1155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379593192,"gmtCreate":1618757150216,"gmtModify":1704714628028,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a> tomorrow evening we raise the tiger to the moon..","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a> tomorrow evening we raise the tiger to the moon..","text":"$Tiger Brokers(TIGR)$ tomorrow evening we raise the tiger to the moon..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/379593192","isVote":1,"tweetType":1,"viewCount":1564,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379505553,"gmtCreate":1618756497572,"gmtModify":1704714621725,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"Will the fund divert to tech stock","listText":"Will the fund divert to tech stock","text":"Will the fund divert to tech stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/379505553","repostId":"1145242426","repostType":4,"repost":{"id":"1145242426","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618579826,"share":"https://ttm.financial/m/news/1145242426?lang=en_US&edition=fundamental","pubTime":"2021-04-16 21:30","market":"us","language":"en","title":"U.S. stocks gained in Friday open. Blockchain stocks fell","url":"https://stock-news.laohu8.com/highlight/detail?id=1145242426","media":"Tiger Newspress","summary":"(April 16) U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports","content":"<p>(April 16) U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports and corporate results remained strong. S&P 500 edges higher to another all-time high, on pace for 4th straight positive week.</p><p>The Dow Jones Industrial Average added 157 points, 0.5%, to open near 34,193, while the S&P 500 added 15 points, 0.4%, starting trading near 4,185. Both indexes clinched record closes Thursday. The Nasdaq Composite index, meanwhile, ticked up 0.1%, about 15 points, to trade near 14,053.</p><p>The pace of residential construction quickened in March, according to the most recent housing starts report and Morgan Stanley said profit doubled in the first quarter, topping analyst expectations.</p><p>Bitcoin slides, Blockchain stocks fell. </p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86da6884447eed1c7e8c7b86db77eb7f\" tg-width=\"313\" tg-height=\"361\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 09:37</span></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stocks gained in Friday open. Blockchain stocks fell</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\">\nU.S. stocks gained in Friday open. Blockchain stocks fell\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-16 21:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(April 16) U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports and corporate results remained strong. S&P 500 edges higher to another all-time high, on pace for 4th straight positive week.</p><p>The Dow Jones Industrial Average added 157 points, 0.5%, to open near 34,193, while the S&P 500 added 15 points, 0.4%, starting trading near 4,185. Both indexes clinched record closes Thursday. The Nasdaq Composite index, meanwhile, ticked up 0.1%, about 15 points, to trade near 14,053.</p><p>The pace of residential construction quickened in March, according to the most recent housing starts report and Morgan Stanley said profit doubled in the first quarter, topping analyst expectations.</p><p>Bitcoin slides, Blockchain stocks fell. </p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/86da6884447eed1c7e8c7b86db77eb7f\" tg-width=\"313\" tg-height=\"361\" referrerpolicy=\"no-referrer\"><span>*Source From Tiger Trade, EST 09:37</span></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145242426","content_text":"(April 16) U.S. stocks shot higher at the open Friday, aiming for fresh records, as economic reports and corporate results remained strong. S&P 500 edges higher to another all-time high, on pace for 4th straight positive week.The Dow Jones Industrial Average added 157 points, 0.5%, to open near 34,193, while the S&P 500 added 15 points, 0.4%, starting trading near 4,185. Both indexes clinched record closes Thursday. The Nasdaq Composite index, meanwhile, ticked up 0.1%, about 15 points, to trade near 14,053.The pace of residential construction quickened in March, according to the most recent housing starts report and Morgan Stanley said profit doubled in the first quarter, topping analyst expectations.Bitcoin slides, Blockchain stocks fell. *Source From Tiger Trade, EST 09:37","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":915,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":350149503,"gmtCreate":1616169276402,"gmtModify":1704791880722,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"normal","listText":"normal","text":"normal","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/350149503","repostId":"1199154789","repostType":4,"repost":{"id":"1199154789","kind":"news","pubTimestamp":1616164372,"share":"https://ttm.financial/m/news/1199154789?lang=en_US&edition=fundamental","pubTime":"2021-03-19 22:32","market":"us","language":"en","title":"Fed Disappoints Market, Lets SLR Relief Expire: What Happens Next","url":"https://stock-news.laohu8.com/highlight/detail?id=1199154789","media":"zerohedge","summary":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on ","content":"<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.</p><blockquote>The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.</blockquote><p><img src=\"https://static.tigerbbs.com/b822960da59d651f093b5113cd0c3fd0\" tg-width=\"500\" tg-height=\"319\" referrerpolicy=\"no-referrer\">This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –<b>suggests that the Fed is “foaming the runway” for the end of SLR exemption</b>.\"</p><p>Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"<b>Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability</b>\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:</p><blockquote>The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. <b>Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.</b>To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. <b>However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.</b>The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.</blockquote><p>The Fed's soothing wods notwithstanding,<b>having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...</b></p><p><img src=\"https://static.tigerbbs.com/c341c3843a5031cd1599c2c89e198050\" tg-width=\"500\" tg-height=\"305\" referrerpolicy=\"no-referrer\">Bond yields spiked...</p><p><img src=\"https://static.tigerbbs.com/14173c1ce587fb45efe4c30ecc1dfbab\" tg-width=\"500\" tg-height=\"284\" referrerpolicy=\"no-referrer\">... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")...</p><p><img src=\"https://static.tigerbbs.com/32811183fba3dbddf1c440836298c7f3\" tg-width=\"500\" tg-height=\"602\" referrerpolicy=\"no-referrer\">.... slumped.</p><p><img src=\"https://static.tigerbbs.com/2fba41463f15e79d2b8436cdd6a526fc\" tg-width=\"500\" tg-height=\"306\" referrerpolicy=\"no-referrer\">In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,<b>banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.</b></p><blockquote>The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. <b>The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.</b></blockquote><p><img src=\"https://static.tigerbbs.com/392342c2f3e1dd008b2276172a9b3ecf\" tg-width=\"500\" tg-height=\"253\" referrerpolicy=\"no-referrer\">While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that<b>\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.</b></p><p>The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).</p><p><b>So what happens next?</b></p><p>Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"<i>the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market</i>:</p><blockquote>The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. <b>Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.</b></blockquote><p>In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...</p><p>Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:</p><blockquote><u><b>3. Relief ends March 31, banks fully raise capital</b></u> <b>Impact on BanksRatesFront-End Rates</b> <u><b>4. Relief ends March 31, banks raise capital & de-lever</b></u> <b>Impact on BanksRatesFront-End Rates</b></blockquote><p>Going back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,<b>and these flows will swell further money funds’ inflows coming from TGA drawdowns.</b>\"</p><p>More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.</p><p><img src=\"https://static.tigerbbs.com/caeeb2b1290e084832f29d61cea6a90b\" tg-width=\"500\" tg-height=\"534\" referrerpolicy=\"no-referrer\">How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"</p><blockquote>FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...</blockquote><p>While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.</p><p>* * *</p><p>Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" as<b>the SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing</b>.</p><p>“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is<b>\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”</b></p><p>Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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\">\nFed Disappoints Market, Lets SLR Relief Expire: What Happens Next\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 22:32 GMT+8 <a href=https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire\">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.zerohedge.com/markets/stocks-bopnds-tank-after-fed-lets-slr-relief-expire","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199154789","content_text":"As washinted at, and discussed in depth here,the Fed decided - under political pressure from progressive Democrats such asElizabeth Warren and Sherrod Brown- to let the temporary Supplementary Leverage Ratio (SLR) exemption expire as scheduled on March 31, the one year anniversary of the rule change.The federal bank regulatory agencies today announced that the temporary change to the supplementary leverage ratio, or SLR, for depository institutions issued on May 15, 2020, will expire as scheduled on March 31, 2021.The temporary change was made to provide flexibility for depository institutions to provide credit to households and businesses in light of the COVID-19 event.This outcome is theone (again) correctly predictedby former NY Fed guru Zoltan Pozsar who following the FOMC said that \"the fact that the Fed made this adjustment practically preemptively – the o/n RRP facility is not being used at the moment, so there are no capacity constraints yet, while repo and bill yields aren’t trading negative yet –suggests that the Fed is “foaming the runway” for the end of SLR exemption.\"Knowing well this would be a very hot button issue for the market, the Fed published thefollowing statementto ease trader nerves, noting that while the SLR special treatment will expire on March 31, the Fed is \"inviting public comment on several potential SLR modifications\" and furthermore, \"Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability\" - in short, if yields spike, the Fed will re-introduce the SLR without delay:The Federal Reserve Board on Friday announced that the temporary change to its supplementary leverage ratio, or SLR, for bank holding companies will expire as scheduled on March 31. Additionally, the Board will shortly seek comment on measures to adjust the SLR. The Board will take appropriate actions to assure that any changes to the SLR do not erode the overall strength of bank capital requirements.To ease strains in the Treasury market resulting from the COVID-19 pandemic and to promote lending to households and businesses, the Board temporarily modified the SLR last year to exclude U.S. Treasury securities and central bank reserves. Since that time, the Treasury market has stabilized. However, because of recent growth in the supply of central bank reserves and the issuance of Treasury securities, the Board may need to address the current design and calibration of the SLR over time to prevent strains from developing that could both constrain economic growth and undermine financial stability.To ensure that the SLR—which was established in 2014 as an additional capital requirement—remains effective in an environment of higher reserves, the Board will soon be inviting public comment on several potential SLR modifications.The proposal and comments will contribute to ongoing discussions with the Department of the Treasury and other regulators on future work to ensure the resiliency of the Treasury market.The Fed's soothing wods notwithstanding,having been primed for a favorable outcome, the Fed's disappointing announcement was hardly the news traders were hoping for and stocks tumbled...Bond yields spiked...... while the stock of JPM, which is the most exposed bank to SLR relief (as noted yesterday in \"Facing Up To JP Morgan's Leverage Relief Threats\")....... slumped.In case you've been living under a rock, here's why you should care about the SLR decision: First, for those whomissed our primer on the issue, some background from JPM (ironically the one bank that has the most to lose from the Fed's decision) the bottom line is that without SLR relief,banks may have to delever, raise new capital, halt buybacks, sell preferred stock, turn down deposits and generally push back on reserves (not necessarily all of these, and not in that order) just as the Fed is injecting hundreds of billions of reserves into the market as the Treasury depletes its TGA account.The massive expansion of the Fed’s balance that has occurred implied an equally massive growth in bank reserves held at Federal Reserve banks. The expiration of the regulatory relief would add ~$2.1tn of leverage exposure across the 8 GSIBs. As well, TGA reduction and continued QE could add another ~$2.35tn of deposits to the system during 2021.While the expiry of the carve-out on March 31 would not have an immediate impact on GSIBs, the continued increase in leverage assets throughout the course of the year would increase long-term debt (LTD) and preferred requirements. Here, JPM takes an optimistic view and writes that\"even the “worst” case issuance scenario as very manageable, with LTD needs of $35bn for TLAC requirements and preferred needs of $15-$20bn to maintain the industry-wide SLR at 5.6%.The constraint is greater at the bank entity, where the capacity to grow leverage exposure to be ~$765bn at 6.2% SLR.\"Goldman's take was more troubling: the bank estimated that under the continued QE regime, there would be a shortfall of some $2 trillion in reserve capacity, mainly in the form of deposits which the banks would be unable to accept as part of ongoing QE (much more in Goldman'sfull take of the SLR quandary).So what happens next?Addressing this topic, yesterday Curvature's Scott Skyrm wrote that \"the largest banks are enjoying much larger balance sheets, but there are political factors in Washington that are against an extension of the exemption.... Here are a couple of scenarios and their implications on the Repo market:The exemption is extended 3 months or 6 months - No impact on the Repo market. It's already fully priced-in.The exemption is continued for reserves, but ended for Treasurys. Since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise. Volatility increases as Repo assets move from the largest banks to the other Repo market participants.The exemption is ended for both reserves and Treasurys. Same as above.In other words, Skyrm has a relatively downbeat view, warning that \"since large banks are the largest cash providers in the Repo market, less cash is intermediated into the market and Repo rates rise.\" Additionally, volatility is likely to increase as repo assets move from the largest banks to the other Repo market participants...Perhaps a bit too draconian? Well, last week, JPMorgan laid out 5 scenarios for SLR, of which two predicted the end of SLR relief on March 31, as follow:3. Relief ends March 31, banks fully raise capital Impact on BanksRatesFront-End Rates 4. Relief ends March 31, banks raise capital & de-lever Impact on BanksRatesFront-End RatesGoing back to Zoltan, let's recallthat the repo gurualso cautioned that \"ending the exemption of reserves and Treasuries from the calculation of the SLR may mean that U.S. banks will turn away deposits and reserves on the margin (not Treasuries) to leave more room for market-making activities,and these flows will swell further money funds’ inflows coming from TGA drawdowns.\"More importantly, Zoltan does not expect broad chaos in repo or broader markets, and instead provides a more benign view on the negligible impact the SLR has had (and will be if it is eliminated), as he explained in a note from Tuesday.How to determine if Zoltan's benign view is correct? He concluded his note by writing that \"given that our call for a zero-to-negative FRA-OIS spread by the end of June was predicated on the end of SLR extension and an assumption that the Fed will try to fix a quantity problem with prices, not quantities, today’s adjustments mean that FRA-OIS won’t trade all the way down to zero or negative territory.\"FRA-OIS from here will be a function of how tight FX swaps will trade relative to OIS, but Treasury bills trading at deeply sub-zero rates is no longer a risk...While Bills have occasionally dipped into the negative territory on occasion, so far they have avoided a fullblown plunge into NIRP, which may be just the positive sign the market is waiting for to ease the nerves associated with the sudden and largely unexpected end of the SLR exemption.* * *Finally, for those curious what the immediate market impact will be, NatWest strategist Blake Gwinn writes that the Fed announcement that they’re letting regulatory exemptions for banks expire at the end of the month \"really threads the needle and \"assuages concerns about the potential long-term impact on the markets\" asthe SLR \"ends it but defuses a lot of the knee-jerk market reaction” by pledging to address the current design and calibration of the supplementary leverage ratio to prevent strains from developing.“I was never worried about a day-one bank puke of Treasuries or drawdown in repo or anything like that on no renewal,” Gwinn said. “My concern was the longer run,” like as reserves continue to rise, would the SLR “become a nuisance and drag on Treasuries and spreads” Gwinn concludes that with the statement, the Fed is\"really speaking to those fears and basically saying, ‘don’t worry, we are on it’.”Well, with yields spiking to HOD in early quad-witch trading, the market sure seems quite skeptical that the Fed is on anything.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1076,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3562886608344748","authorId":"3562886608344748","name":"KopiLim","avatar":"https://static.tigerbbs.com/04fcef53a2e715c173a40fafa14a7fe6","crmLevel":3,"crmLevelSwitch":1,"authorIdStr":"3562886608344748","idStr":"3562886608344748"},"content":"Comment pls","text":"Comment pls","html":"Comment pls"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":138795553,"gmtCreate":1621960090672,"gmtModify":1704365220210,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"jump hight drop fast","listText":"jump hight drop fast","text":"jump hight drop fast","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/138795553","repostId":"1112499666","repostType":4,"isVote":1,"tweetType":1,"viewCount":1048,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379593192,"gmtCreate":1618757150216,"gmtModify":1704714628028,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a> tomorrow evening we raise the tiger to the moon..","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a> tomorrow evening we raise the tiger to the moon..","text":"$Tiger Brokers(TIGR)$ tomorrow evening we raise the tiger to the moon..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/379593192","isVote":1,"tweetType":1,"viewCount":1564,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356227144,"gmtCreate":1616781095288,"gmtModify":1704798992083,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"$2.1","listText":"$2.1","text":"$2.1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/356227144","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://ttm.financial/m/news/1141686975?lang=en_US&edition=fundamental","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></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>Zhihu Technology fall on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":990,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139857135,"gmtCreate":1621608385127,"gmtModify":1704360530407,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"Is way to go ","listText":"Is way to go ","text":"Is way to go","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139857135","repostId":"2137901923","repostType":4,"repost":{"id":"2137901923","kind":"highlight","pubTimestamp":1621606683,"share":"https://ttm.financial/m/news/2137901923?lang=en_US&edition=fundamental","pubTime":"2021-05-21 22:18","market":"us","language":"en","title":"Elon Musk leaves Europeans guessing on location of future Tesla plant","url":"https://stock-news.laohu8.com/highlight/detail?id=2137901923","media":"Barrons","summary":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government i","content":"<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.</p>\n<ul>\n <li>Musk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw British media speculate that he might change his mind.</li>\n <li>The U.K. government’s Office for Investment, created last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.</li>\n <li>Musk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars has been delayed from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.</li>\n <li>Tesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk said on Friday, while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.</li>\n</ul>\n<p><b>The outlook:</b>Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.</p>\n<p>If Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.</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>Elon Musk leaves Europeans guessing on location of future Tesla plant</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nElon Musk leaves Europeans guessing on location of future Tesla plant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-21 22:18 GMT+8 <a href=https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. ...</p>\n\n<a href=\"https://www.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA\">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.barrons.com/articles/elon-musk-leaves-europeans-guessing-on-location-of-future-tesla-plant-51621604092?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137901923","content_text":"A quick visit by Elon Musk to Luton airport near London a few days ago came as the U.K. government is courting the Tesla founder, hoping he might build his next electric-car factory in the country. But Musk also said on Friday that he is considering Russia as a possible location.\n\nMusk said in the past that the exit of the U.K. from the European Union created too big a risk for a company that would want to export most of its car production to Europe, but his two-day visit near London last weekend saw British media speculate that he might change his mind.\nThe U.K. government’s Office for Investment, created last year to lure foreign investment to the country, has been asking regional authorities to submit plans for potential factory sites that could cover 250 hectares, according to media reports.\nMusk criticized Germany’s regulations this week during a visit to the site of his first gigafactory in the state of Brandenburg, where production of the first cars has been delayed from July to the end of the year. “I think there could be less bureaucracy, that would be better,” he said.\nTesla (ticker: TSLA) is “close to establishing presence in Russia,” Musk said on Friday, while fielding questions from students during a Kremlin-sponsored event. “That would be great,” he added, saying that presence might at some point “potentially” include a factory.\n\nThe outlook:Analysts note that establishing a car factory geared toward the European market in the U.K. is a tall order. The type of “bureaucracy” Musk denounces in Germany would be harder to manage when dealing with the whole EU, and its own set of legal, technical and tax regulations.\nIf Tesla is considering a battery factory in the U.K., it would run into the problem of being too far from the motor manufacturer in Germany. That leaves a research and development facility—but it wouldn’t need the 250 hectares penciled in by the U.K. government. That is the type of investment Tesla was considering doing back in 2014—and canceled after the pro-Brexit 2016 referendum result.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":957,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164227194,"gmtCreate":1624211082518,"gmtModify":1703830705586,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"Hi ","listText":"Hi ","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/164227194","repostId":"1113942445","repostType":4,"isVote":1,"tweetType":1,"viewCount":1325,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120381757,"gmtCreate":1624299514279,"gmtModify":1703832901208,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"all right","listText":"all right","text":"all right","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120381757","repostId":"1186997776","repostType":4,"isVote":1,"tweetType":1,"viewCount":1038,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129541924,"gmtCreate":1624378765168,"gmtModify":1703835075012,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"thats ok","listText":"thats ok","text":"thats ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/129541924","repostId":"2145056554","repostType":4,"isVote":1,"tweetType":1,"viewCount":3268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139375530,"gmtCreate":1621596898720,"gmtModify":1704360281593,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"no comment","listText":"no comment","text":"no comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139375530","repostId":"1139943283","repostType":4,"isVote":1,"tweetType":1,"viewCount":1076,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143784579,"gmtCreate":1625818587691,"gmtModify":1703749164293,"author":{"id":"3579155002441575","authorId":"3579155002441575","name":"OU2","avatar":"https://community-static.tradeup.com/news/7e725a6fa41015c2f604db01ea6efac4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3579155002441575","idStr":"3579155002441575"},"themes":[],"htmlText":"song","listText":"song","text":"song","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/143784579","repostId":"2150373816","repostType":2,"isVote":1,"tweetType":1,"viewCount":2664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}