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Sabniz33
Sabniz33
·
2021-12-06
Good.Like plz
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Sabniz33
Sabniz33
·
2021-12-02
Good.. hopefully
Trump stocks rose sharply in extended trading, with Phunware jumping over 33% and DWAC rising nearly 30%
Trump stocks rose sharply in extended trading, with Phunware jumping over 33%,DWAC rising nearly 30%
Trump stocks rose sharply in extended trading, with Phunware jumping over 33% and DWAC rising nearly 30%
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Sabniz33
Sabniz33
·
2021-11-09
Good.
Rivian IPO Puts Slow Race to Commercial EV to Public Market Test
(Bloomberg) -- Eleven years after Tesla Inc. went public with a market value of less than $2 billion
Rivian IPO Puts Slow Race to Commercial EV to Public Market Test
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Sabniz33
Sabniz33
·
2021-07-02
Goood.. hodl more
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Sabniz33
Sabniz33
·
2021-07-01
Like and comment
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Sabniz33
Sabniz33
·
2021-06-24
Tesla to the Moon ..
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Sabniz33
Sabniz33
·
2021-06-24
Really?
Why U.S. stocks face a tough decade ahead even if corporate revenues are strong
Stock market’s return will grow at the same rate as the U.S. economy. Might there be hope, after al
Why U.S. stocks face a tough decade ahead even if corporate revenues are strong
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Sabniz33
Sabniz33
·
2021-06-23
Hodl.. Apes together strong.
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Sabniz33
Sabniz33
·
2021-06-22
Good.
GameStop completes at-the-market equity offering after raising $1.126 billion, stock jumps 6.84% premarket
(June 15) GameStop Corp. said Tuesday it has completed an at-the-market equity offering after issuin
GameStop completes at-the-market equity offering after raising $1.126 billion, stock jumps 6.84% premarket
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Sabniz33
Sabniz33
·
2021-06-21
Like plz.
Powell Just Launched $2 Trillion In "Heat-Seeking Missiles": Zoltan Explains How The Fed Started The Next Repo Crisis
Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect
Powell Just Launched $2 Trillion In "Heat-Seeking Missiles": Zoltan Explains How The Fed Started The Next Repo Crisis
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hopefully","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603790956","repostId":"1196097174","repostType":2,"repost":{"id":"1196097174","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":1638401121,"share":"https://www.laohu8.com/m/news/1196097174?lang=&edition=full","pubTime":"2021-12-02 07:25","market":"us","language":"en","title":"Trump stocks rose sharply in extended trading, with Phunware jumping over 33% and DWAC rising nearly 30%","url":"https://stock-news.laohu8.com/highlight/detail?id=1196097174","media":"Tiger Newspress","summary":"Trump stocks rose sharply in extended trading, with Phunware jumping over 33%,DWAC rising nearly 30%","content":"<p>Trump stocks rose sharply in extended trading, with Phunware jumping over 33%,DWAC rising nearly 30% and Remark Media rising more than 20%.<img src=\"https://static.tigerbbs.com/8678aaff6ab9ec246d9e3efaf2ee7fe8\" tg-width=\"772\" tg-height=\"556\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2b4ab11e5e732d81d203e325f6147928\" tg-width=\"774\" tg-height=\"562\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/0530d860909f2d8024795d0c7a06b85f\" tg-width=\"776\" tg-height=\"563\" width=\"100%\" height=\"auto\">Trump Media & Technology Group is trying to raise as much as $1B in a PIPE transaction, according to a Reuters report. The additional funding would value the new entity at close to $3B. The original SPAC deal between Trump Media and DWAC valued Trump Media at $875M.</p>\n<p>Trump Media is looking to secure a PIPE that would value DWAC close to its current share price of around $40/share, according to Reuters, which cited people familiar. Trump Media has asked investors to finalize commitments for PIPE investment by the middle of the month.</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>Trump stocks rose sharply in extended trading, with Phunware jumping over 33% and DWAC rising nearly 30%</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\">\nTrump stocks rose sharply in extended trading, with Phunware jumping over 33% and DWAC rising nearly 30%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-02 07:25</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Trump stocks rose sharply in extended trading, with Phunware jumping over 33%,DWAC rising nearly 30% and Remark Media rising more than 20%.<img src=\"https://static.tigerbbs.com/8678aaff6ab9ec246d9e3efaf2ee7fe8\" tg-width=\"772\" tg-height=\"556\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/2b4ab11e5e732d81d203e325f6147928\" tg-width=\"774\" tg-height=\"562\" width=\"100%\" height=\"auto\"><img src=\"https://static.tigerbbs.com/0530d860909f2d8024795d0c7a06b85f\" tg-width=\"776\" tg-height=\"563\" width=\"100%\" height=\"auto\">Trump Media & Technology Group is trying to raise as much as $1B in a PIPE transaction, according to a Reuters report. The additional funding would value the new entity at close to $3B. The original SPAC deal between Trump Media and DWAC valued Trump Media at $875M.</p>\n<p>Trump Media is looking to secure a PIPE that would value DWAC close to its current share price of around $40/share, according to Reuters, which cited people familiar. Trump Media has asked investors to finalize commitments for PIPE investment by the middle of the month.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PHUN":"Phunware, Inc.","MARK":"Remark控股"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196097174","content_text":"Trump stocks rose sharply in extended trading, with Phunware jumping over 33%,DWAC rising nearly 30% and Remark Media rising more than 20%.Trump Media & Technology Group is trying to raise as much as $1B in a PIPE transaction, according to a Reuters report. The additional funding would value the new entity at close to $3B. The original SPAC deal between Trump Media and DWAC valued Trump Media at $875M.\nTrump Media is looking to secure a PIPE that would value DWAC close to its current share price of around $40/share, according to Reuters, which cited people familiar. Trump Media has asked investors to finalize commitments for PIPE investment by the middle of the month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":844420733,"gmtCreate":1636452794631,"gmtModify":1636453189897,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Good.","listText":"Good.","text":"Good.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844420733","repostId":"2182270315","repostType":4,"repost":{"id":"2182270315","kind":"news","pubTimestamp":1636440901,"share":"https://www.laohu8.com/m/news/2182270315?lang=&edition=full","pubTime":"2021-11-09 14:55","market":"us","language":"en","title":"Rivian IPO Puts Slow Race to Commercial EV to Public Market Test","url":"https://stock-news.laohu8.com/highlight/detail?id=2182270315","media":"Bloomberg","summary":"(Bloomberg) -- Eleven years after Tesla Inc. went public with a market value of less than $2 billion","content":"<p>(Bloomberg) -- Eleven years after Tesla Inc. went public with a market value of less than $2 billion, <a href=\"https://laohu8.com/S/AONE.U\">one</a> of its most closely watched competitors is following in its tire treads with a much richer valuation. Electric-truckmaker Rivian Automotive Inc. will price its initial public offering on Tuesday and start trading Wednesday, seeking to raise as much as $10 billion in a listing that could give it a fully diluted valuation of more than $70 billion. If shares are sold at the top of their marketed range, it’ll be the seventh-biggest U.S. IPO on record, data compiled by Bloomberg show.</p>\n<p>Investors will be buying into the promise of a class of EVs that mirror the gas-powered vehicles that dominate the passenger market: larger, bulkier vans and pickup trucks that are a sharp contrast to Tesla’s sleeker sedans. The company also has Amazon.com Inc.’s backing – the internet giant owns a 20% stake in Rivian and has placed an order for 100,000 of its delivery vans.</p>\n<p>As is the case with many richly valued startups, they’ll also be buying into ambitious growth plans. Rivian delivered its first vehicles just a couple of months ago and will only produce about 1,200 units by year-end at its plant in Normal, Illinois. The company estimates that annual production will hit 150,000 vehicles at its main facility by late 2023.</p>\n<p>While demand for Rivian’s products will likely outweigh supply for a number of years, the company faces a “natural ceiling” of 300,000 to 400,000 units per year, New Street Research analyst Pierre Ferragu wrote in a note Monday. That’s partly down to price: Rivian’s R1T truck starts at $67,500 for the most basic model, while its upcoming sport utility model is $70,000.</p>\n<p>“Above $70,000, the global addressable market for Rivian’s SUV and pickup is less than 1.5 million units, and it will be a crowded space,” Ferragu wrote.</p>\n<p>Stealth Mode</p>\n<p>Though it’s a newcomer to the public market, Irvine, California-based Rivian’s entry into the world of consumer electric vehicles has been more than a decade in the making.</p>\n<p>Founder and Chief Executive Officer R.J. Scaringe set-up the first iteration of what would become Rivian in 2009 in his home state of Florida.</p>\n<p>Early work centered around a smaller sports car, which was later shelved in favor of a rugged pickup at the direction of early investor Mohammed Abdul Latif Jameel.</p>\n<p>The company remained in stealth mode for almost 10 years, until the Los Angeles Auto Show in 2018 where Scaringe, who holds a doctorate from the Massachusetts Institute of Technology, showed his battery-electric pickup and SUV to the public for the first time.</p>\n<p>Read more: Rivian’s Long, Messy Road to Its First Electric Pickup Truck</p>\n<p>With deliveries having finally started in September, Rivian is the first automaker to bring a battery-electric pickup to market in the U.S. It’s also on track to make the most of its first-mover advantage when it starts deliveries of the R1S sport utility vehicle this year, giving it a lead in the market for full-size battery-electric SUVs.</p>\n<p>Competition, Amazon</p>\n<p>When competition arrives, it will be plentiful -- and often cheaper. Ford Motor Co. has more than 160,000 non-binding reservations for its F-150 Lightning, the electrified version of its best-selling pickup that starts around $40,000, though it doesn’t go on sale until next spring.</p>\n<p>General Motors Co., which walked away from potentially buying a stake in Rivian in 2019, will debut an EV pickup version of its iconic Hummer this fall. It also plans to unveil an EV version of the Silverado pickup at Consumer Electronics Show in January. Tesla, meanwhile, plans to start production on its futuristic Cybertruck pickup late next year at its new plant in Austin, Texas.</p>\n<p>Much of the recent optimism around Rivian’s potential valuation comes from Amazon’s backing of the automaker, and particularly its order for 100,000 electric delivery vans by the end of the decade.</p>\n<p>The deal for the vans is seen as a point of differentiation for Rivian, giving it some insulation from economic downturns that could hit consumer appetites for passenger EVs. Scaringe has prioritized building hundreds of delivery vans this year, people familiar with the plan told Bloomberg News in October, even though Amazon is under no obligation to actually buy any of them. Amazon Shapes Rivian’s Future and Hopes for $80 Billion IPO (1)</p>\n<p>Under the terms of the agreement, Seattle, Washington-based Amazon has exclusive rights to Rivian’s vans for a period of four years, with right of first refusal on all vans produced for another two years after that. Amazon is also permitted to work with other automakers on electric delivery vans.</p>\n<p>‘Next Tesla’</p>\n<p>“Rivian’s premium market valuation reflects its ownership of the entire value chain and freedom to innovate without dealing with stranded assets,” Pitchbook senior mobility analyst Asad Hussain said. “Between Rivian and Lucid, the market finally has credible candidates for ‘the next Tesla.’”</p>\n<p>Elon Musk’s Tesla, which recently joined the trillion-dollar-valuation club, might have its own ideas about that.</p>\n<p>A legal fight between the companies ramped up last month over Tesla’s claims that Rivian was poaching employees and, in the process, stealing “highly proprietary” battery technology. Rivian denied the claims, which it had accused Tesla in August 2020 of making up to stop employees leaving, and to stifle the growth of competitors.</p>\n<p>If Rivian hits, or exceeds, the market valuation of $63 billion that it’s aiming for in its IPO -- excluding employee stock options and restricted stock units -- it would eclipse decades-old automakers such as Japan’s Honda Motor Co., valued at about $53 billion, and France’s Renault SA at $11 billion. A first-day rally in the shares, which have characterized several recent IPOs by well-known companies, could see Rivian’s valuation top that of Ford, General Motors and fellow EV maker <a href=\"https://laohu8.com/S/LCID\">Lucid Group Inc</a>., which went public via a blank-check company in July and is now worth about $74 billion. Rivian was last valued at $27.6 billion in a funding round in January, Bloomberg News reported.</p>\n<p>Rivian plans to use the proceeds from its IPO for working capital, to fund growth and for other general corporate purposes, according to its listing paperwork. As well as ramping up hiring and increasing the volume of materials bought from its supply chain to meet demand, the company is also planning to build a second U.S. factory and is in talks with the city of Fort Worth, Texas, to invest $5 billion in a plant there. Rivian’s also eyeing a third factory in Europe, Bloomberg reported in January.</p>\n<p>The company had a net loss of $994 million in the first six months of 2021, compared with a $377 million deficit a year earlier, according to its filings. It expects to record a quarterly net loss of up to $1.28 billion due to costs associated with the start of production of the R1T.</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a>, Goldman Sachs Group Inc. and JPMorgan Chase & Co. -- the same trio who lined up to take Tesla public -- are leading the offering. The company’s shares will trade on the Nasdaq Global Select Market under the symbol RIVN.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian IPO Puts Slow Race to Commercial EV to Public Market Test</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\">\nRivian IPO Puts Slow Race to Commercial EV to Public Market Test\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-09 14:55 GMT+8 <a href=https://finance.yahoo.com/news/rivian-ipo-puts-slow-race-050001996.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Eleven years after Tesla Inc. went public with a market value of less than $2 billion, one of its most closely watched competitors is following in its tire treads with a much richer ...</p>\n\n<a href=\"https://finance.yahoo.com/news/rivian-ipo-puts-slow-race-050001996.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/rivian-ipo-puts-slow-race-050001996.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2182270315","content_text":"(Bloomberg) -- Eleven years after Tesla Inc. went public with a market value of less than $2 billion, one of its most closely watched competitors is following in its tire treads with a much richer valuation. Electric-truckmaker Rivian Automotive Inc. will price its initial public offering on Tuesday and start trading Wednesday, seeking to raise as much as $10 billion in a listing that could give it a fully diluted valuation of more than $70 billion. If shares are sold at the top of their marketed range, it’ll be the seventh-biggest U.S. IPO on record, data compiled by Bloomberg show.\nInvestors will be buying into the promise of a class of EVs that mirror the gas-powered vehicles that dominate the passenger market: larger, bulkier vans and pickup trucks that are a sharp contrast to Tesla’s sleeker sedans. The company also has Amazon.com Inc.’s backing – the internet giant owns a 20% stake in Rivian and has placed an order for 100,000 of its delivery vans.\nAs is the case with many richly valued startups, they’ll also be buying into ambitious growth plans. Rivian delivered its first vehicles just a couple of months ago and will only produce about 1,200 units by year-end at its plant in Normal, Illinois. The company estimates that annual production will hit 150,000 vehicles at its main facility by late 2023.\nWhile demand for Rivian’s products will likely outweigh supply for a number of years, the company faces a “natural ceiling” of 300,000 to 400,000 units per year, New Street Research analyst Pierre Ferragu wrote in a note Monday. That’s partly down to price: Rivian’s R1T truck starts at $67,500 for the most basic model, while its upcoming sport utility model is $70,000.\n“Above $70,000, the global addressable market for Rivian’s SUV and pickup is less than 1.5 million units, and it will be a crowded space,” Ferragu wrote.\nStealth Mode\nThough it’s a newcomer to the public market, Irvine, California-based Rivian’s entry into the world of consumer electric vehicles has been more than a decade in the making.\nFounder and Chief Executive Officer R.J. Scaringe set-up the first iteration of what would become Rivian in 2009 in his home state of Florida.\nEarly work centered around a smaller sports car, which was later shelved in favor of a rugged pickup at the direction of early investor Mohammed Abdul Latif Jameel.\nThe company remained in stealth mode for almost 10 years, until the Los Angeles Auto Show in 2018 where Scaringe, who holds a doctorate from the Massachusetts Institute of Technology, showed his battery-electric pickup and SUV to the public for the first time.\nRead more: Rivian’s Long, Messy Road to Its First Electric Pickup Truck\nWith deliveries having finally started in September, Rivian is the first automaker to bring a battery-electric pickup to market in the U.S. It’s also on track to make the most of its first-mover advantage when it starts deliveries of the R1S sport utility vehicle this year, giving it a lead in the market for full-size battery-electric SUVs.\nCompetition, Amazon\nWhen competition arrives, it will be plentiful -- and often cheaper. Ford Motor Co. has more than 160,000 non-binding reservations for its F-150 Lightning, the electrified version of its best-selling pickup that starts around $40,000, though it doesn’t go on sale until next spring.\nGeneral Motors Co., which walked away from potentially buying a stake in Rivian in 2019, will debut an EV pickup version of its iconic Hummer this fall. It also plans to unveil an EV version of the Silverado pickup at Consumer Electronics Show in January. Tesla, meanwhile, plans to start production on its futuristic Cybertruck pickup late next year at its new plant in Austin, Texas.\nMuch of the recent optimism around Rivian’s potential valuation comes from Amazon’s backing of the automaker, and particularly its order for 100,000 electric delivery vans by the end of the decade.\nThe deal for the vans is seen as a point of differentiation for Rivian, giving it some insulation from economic downturns that could hit consumer appetites for passenger EVs. Scaringe has prioritized building hundreds of delivery vans this year, people familiar with the plan told Bloomberg News in October, even though Amazon is under no obligation to actually buy any of them. Amazon Shapes Rivian’s Future and Hopes for $80 Billion IPO (1)\nUnder the terms of the agreement, Seattle, Washington-based Amazon has exclusive rights to Rivian’s vans for a period of four years, with right of first refusal on all vans produced for another two years after that. Amazon is also permitted to work with other automakers on electric delivery vans.\n‘Next Tesla’\n“Rivian’s premium market valuation reflects its ownership of the entire value chain and freedom to innovate without dealing with stranded assets,” Pitchbook senior mobility analyst Asad Hussain said. “Between Rivian and Lucid, the market finally has credible candidates for ‘the next Tesla.’”\nElon Musk’s Tesla, which recently joined the trillion-dollar-valuation club, might have its own ideas about that.\nA legal fight between the companies ramped up last month over Tesla’s claims that Rivian was poaching employees and, in the process, stealing “highly proprietary” battery technology. Rivian denied the claims, which it had accused Tesla in August 2020 of making up to stop employees leaving, and to stifle the growth of competitors.\nIf Rivian hits, or exceeds, the market valuation of $63 billion that it’s aiming for in its IPO -- excluding employee stock options and restricted stock units -- it would eclipse decades-old automakers such as Japan’s Honda Motor Co., valued at about $53 billion, and France’s Renault SA at $11 billion. A first-day rally in the shares, which have characterized several recent IPOs by well-known companies, could see Rivian’s valuation top that of Ford, General Motors and fellow EV maker Lucid Group Inc., which went public via a blank-check company in July and is now worth about $74 billion. Rivian was last valued at $27.6 billion in a funding round in January, Bloomberg News reported.\nRivian plans to use the proceeds from its IPO for working capital, to fund growth and for other general corporate purposes, according to its listing paperwork. As well as ramping up hiring and increasing the volume of materials bought from its supply chain to meet demand, the company is also planning to build a second U.S. factory and is in talks with the city of Fort Worth, Texas, to invest $5 billion in a plant there. Rivian’s also eyeing a third factory in Europe, Bloomberg reported in January.\nThe company had a net loss of $994 million in the first six months of 2021, compared with a $377 million deficit a year earlier, according to its filings. It expects to record a quarterly net loss of up to $1.28 billion due to costs associated with the start of production of the R1T.\nMorgan Stanley, Goldman Sachs Group Inc. and JPMorgan Chase & Co. -- the same trio who lined up to take Tesla public -- are leading the offering. The company’s shares will trade on the Nasdaq Global Select Market under the symbol RIVN.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":156113609,"gmtCreate":1625201375601,"gmtModify":1631883936560,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Goood.. hodl more ","listText":"Goood.. hodl more ","text":"Goood.. hodl more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/156113609","repostId":"1133090424","repostType":4,"isVote":1,"tweetType":1,"viewCount":514,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158652719,"gmtCreate":1625148644731,"gmtModify":1631883936574,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/158652719","repostId":"2148840288","repostType":4,"isVote":1,"tweetType":1,"viewCount":568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128932371,"gmtCreate":1624497589993,"gmtModify":1631883936590,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Tesla to the Moon ..","listText":"Tesla to the Moon ..","text":"Tesla to the Moon ..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128932371","repostId":"2145156570","repostType":4,"isVote":1,"tweetType":1,"viewCount":638,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121438531,"gmtCreate":1624488407223,"gmtModify":1631883936596,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Really?","listText":"Really?","text":"Really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/121438531","repostId":"1198462718","repostType":4,"repost":{"id":"1198462718","kind":"news","pubTimestamp":1624448358,"share":"https://www.laohu8.com/m/news/1198462718?lang=&edition=full","pubTime":"2021-06-23 19:39","market":"us","language":"en","title":"Why U.S. stocks face a tough decade ahead even if corporate revenues are strong","url":"https://stock-news.laohu8.com/highlight/detail?id=1198462718","media":"MarketWatch","summary":"Stock market’s return will grow at the same rate as the U.S. economy.\n\nMight there be hope, after al","content":"<blockquote>\n <b>Stock market’s return will grow at the same rate as the U.S. economy.</b>\n</blockquote>\n<p>Might there be hope, after all, for the U.S. stock market’s return over the next decade? I ask as a follow up tomy column earlier this monthin which I concluded that even under optimistic assumptions, the S&P 500SPX,+0.51%over the next 10 years is unlikely to produce an annualized total real return greater than the low single-digits.</p>\n<p>My argument was that the stock market will not be able to count on the three pillars that have propped it up over the past decade — increasing valuations, profit margins and more buybacks than new shares issued (net buybacks).</p>\n<p>Some readers responded that I had overlooked an escape hatch which would enable the market to produce decent returns: corporate revenues can grow faster than the overall U.S. economy. To the extent this is so, then the stock market does not need any of those three pillars to do well.</p>\n<p>This escape hatch appears to have solid evidence behind it. Consider a recent note to clients from Jonathan Golub, chief U.S. equity strategist and head of quantitative research at Credit Suisse. He reported that, according to an econometric model he constructed based on S&P 500 sales and GDP since 2000, “every 1% upside in nominal GDP drives 2½–3% improvement in revenues.”</p>\n<p>If so, this certainly would be good for stock investors. It would mean that even without increasing valuations, profit margins or net buybacks, the stock market could significantly outperform the overall economy.</p>\n<p>Unfortunately, this argument is too good to be true. I analyzed S&P 500 sales back to the early 1970s (courtesy of data from Ned Davis Research), and found almost a 1:1 correlation between sales growth and GDP growth.</p>\n<p>This is entirely what we should expect, according to Robert Arnott, chairman and founder of Research Affiliates. In an email, he said that “aggregate sales should offer a pretty clean 1:1 relationship to GDP. Any other ratio makes no sense on a sustained basis.”</p>\n<p>How then did Golub come up with such a different answer? My hunch is that it traces to how he measured sales. In an email, Golub’s colleague Manish Bangard, an equity strategist at Credit Suisse, explained that they focused on sales per share. But, as Arnott points out, this per-share number reflects the impact of net buybacks. So the high sales-to-GDP ratio that Golub reports is not a pure measure of how sales growth relates to GDP. (I did not receive a response to my requests for additional comment.)</p>\n<p><b>Investment implication</b></p>\n<p>The implication is that we should not expect the U.S. stock market over the next decade to grow faster than the economy. It may in fact grow much more slowly if P/E ratios or profit margins regress even partway to their historical mean, or if net buybacks turn out to be negative (as they’ve been for most of U.S. history).</p>\n<p>But even if P/E ratios and profit margins stay constant between now and 2031 and there are no net buybacks, the lesson of history is that the U.S. market will grow no faster than the economy.</p>\n<p>Consider what that means. TheCongressional Budget Office is projectingthat real GDP from 2022 through 2031 will grow at a 1.8% annualized rate. Even that may be optimistic, because the CBO projects no recession between now and then.</p>\n<p>The bottom line: The stock market has its work cut out to produce even a fraction of the past decade’s fabulous return.</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why U.S. stocks face a tough decade ahead even if corporate revenues are strong</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 U.S. stocks face a tough decade ahead even if corporate revenues are strong\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 19:39 GMT+8 <a href=https://www.marketwatch.com/story/why-u-s-stocks-face-a-tough-decade-ahead-even-if-corporate-revenues-are-strong-11624429824?siteid=yhoof2><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Stock market’s return will grow at the same rate as the U.S. economy.\n\nMight there be hope, after all, for the U.S. stock market’s return over the next decade? I ask as a follow up tomy column earlier...</p>\n\n<a href=\"https://www.marketwatch.com/story/why-u-s-stocks-face-a-tough-decade-ahead-even-if-corporate-revenues-are-strong-11624429824?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.marketwatch.com/story/why-u-s-stocks-face-a-tough-decade-ahead-even-if-corporate-revenues-are-strong-11624429824?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198462718","content_text":"Stock market’s return will grow at the same rate as the U.S. economy.\n\nMight there be hope, after all, for the U.S. stock market’s return over the next decade? I ask as a follow up tomy column earlier this monthin which I concluded that even under optimistic assumptions, the S&P 500SPX,+0.51%over the next 10 years is unlikely to produce an annualized total real return greater than the low single-digits.\nMy argument was that the stock market will not be able to count on the three pillars that have propped it up over the past decade — increasing valuations, profit margins and more buybacks than new shares issued (net buybacks).\nSome readers responded that I had overlooked an escape hatch which would enable the market to produce decent returns: corporate revenues can grow faster than the overall U.S. economy. To the extent this is so, then the stock market does not need any of those three pillars to do well.\nThis escape hatch appears to have solid evidence behind it. Consider a recent note to clients from Jonathan Golub, chief U.S. equity strategist and head of quantitative research at Credit Suisse. He reported that, according to an econometric model he constructed based on S&P 500 sales and GDP since 2000, “every 1% upside in nominal GDP drives 2½–3% improvement in revenues.”\nIf so, this certainly would be good for stock investors. It would mean that even without increasing valuations, profit margins or net buybacks, the stock market could significantly outperform the overall economy.\nUnfortunately, this argument is too good to be true. I analyzed S&P 500 sales back to the early 1970s (courtesy of data from Ned Davis Research), and found almost a 1:1 correlation between sales growth and GDP growth.\nThis is entirely what we should expect, according to Robert Arnott, chairman and founder of Research Affiliates. In an email, he said that “aggregate sales should offer a pretty clean 1:1 relationship to GDP. Any other ratio makes no sense on a sustained basis.”\nHow then did Golub come up with such a different answer? My hunch is that it traces to how he measured sales. In an email, Golub’s colleague Manish Bangard, an equity strategist at Credit Suisse, explained that they focused on sales per share. But, as Arnott points out, this per-share number reflects the impact of net buybacks. So the high sales-to-GDP ratio that Golub reports is not a pure measure of how sales growth relates to GDP. (I did not receive a response to my requests for additional comment.)\nInvestment implication\nThe implication is that we should not expect the U.S. stock market over the next decade to grow faster than the economy. It may in fact grow much more slowly if P/E ratios or profit margins regress even partway to their historical mean, or if net buybacks turn out to be negative (as they’ve been for most of U.S. history).\nBut even if P/E ratios and profit margins stay constant between now and 2031 and there are no net buybacks, the lesson of history is that the U.S. market will grow no faster than the economy.\nConsider what that means. TheCongressional Budget Office is projectingthat real GDP from 2022 through 2031 will grow at a 1.8% annualized rate. Even that may be optimistic, because the CBO projects no recession between now and then.\nThe bottom line: The stock market has its work cut out to produce even a fraction of the past decade’s fabulous return.","news_type":1},"isVote":1,"tweetType":1,"viewCount":409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123573781,"gmtCreate":1624431945943,"gmtModify":1631883936617,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Hodl.. Apes together strong.","listText":"Hodl.. Apes together strong.","text":"Hodl.. Apes together strong.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/123573781","repostId":"2145520610","repostType":4,"isVote":1,"tweetType":1,"viewCount":621,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129196536,"gmtCreate":1624363564125,"gmtModify":1631883936631,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Good.","listText":"Good.","text":"Good.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129196536","repostId":"1161172533","repostType":4,"repost":{"id":"1161172533","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":1624360705,"share":"https://www.laohu8.com/m/news/1161172533?lang=&edition=full","pubTime":"2021-06-22 19:18","market":"us","language":"en","title":"GameStop completes at-the-market equity offering after raising $1.126 billion, stock jumps 6.84% premarket","url":"https://stock-news.laohu8.com/highlight/detail?id=1161172533","media":"Tiger Newspress","summary":"(June 15) GameStop Corp. said Tuesday it has completed an at-the-market equity offering after issuin","content":"<p>(June 15) GameStop Corp. said Tuesday it has completed an at-the-market equity offering after issuing 5 million shares to raise about $1.126 billion. The videogame retailer and leading meme stock said it will use the proceeds for the catch-all general corporate purposes and for growth initiatives, while maintaining a healthy balance sheet. </p>\n<p>The stock jumped 6.84% premarket and has gained 964% in the year to date, spurred on by Reddit subgroup WallStreetBets, who are betting the company can restore its business under new leadership. The S&P 500 SPX, +1.40% has gained 12.5% in the same period.</p>\n<p><img src=\"https://static.tigerbbs.com/b4772ce5d4d1e2d998daa7d0cddf05c0\" tg-width=\"656\" tg-height=\"497\" 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>GameStop completes at-the-market equity offering after raising $1.126 billion, stock jumps 6.84% premarket</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\">\nGameStop completes at-the-market equity offering after raising $1.126 billion, stock jumps 6.84% premarket\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-22 19:18</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 15) GameStop Corp. said Tuesday it has completed an at-the-market equity offering after issuing 5 million shares to raise about $1.126 billion. The videogame retailer and leading meme stock said it will use the proceeds for the catch-all general corporate purposes and for growth initiatives, while maintaining a healthy balance sheet. </p>\n<p>The stock jumped 6.84% premarket and has gained 964% in the year to date, spurred on by Reddit subgroup WallStreetBets, who are betting the company can restore its business under new leadership. The S&P 500 SPX, +1.40% has gained 12.5% in the same period.</p>\n<p><img src=\"https://static.tigerbbs.com/b4772ce5d4d1e2d998daa7d0cddf05c0\" tg-width=\"656\" tg-height=\"497\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161172533","content_text":"(June 15) GameStop Corp. said Tuesday it has completed an at-the-market equity offering after issuing 5 million shares to raise about $1.126 billion. The videogame retailer and leading meme stock said it will use the proceeds for the catch-all general corporate purposes and for growth initiatives, while maintaining a healthy balance sheet. \nThe stock jumped 6.84% premarket and has gained 964% in the year to date, spurred on by Reddit subgroup WallStreetBets, who are betting the company can restore its business under new leadership. The S&P 500 SPX, +1.40% has gained 12.5% in the same period.","news_type":1},"isVote":1,"tweetType":1,"viewCount":329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167518545,"gmtCreate":1624276758887,"gmtModify":1631883936637,"author":{"id":"3574288328492266","authorId":"3574288328492266","name":"Sabniz33","avatar":"https://static.tigerbbs.com/77d542c059621f2a7040e901e5702bc8","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574288328492266","authorIdStr":"3574288328492266"},"themes":[],"htmlText":"Like plz.","listText":"Like plz.","text":"Like plz.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/167518545","repostId":"1146982088","repostType":4,"repost":{"id":"1146982088","kind":"news","pubTimestamp":1624259620,"share":"https://www.laohu8.com/m/news/1146982088?lang=&edition=full","pubTime":"2021-06-21 15:13","market":"us","language":"en","title":"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis","url":"https://stock-news.laohu8.com/highlight/detail?id=1146982088","media":"zerohedge","summary":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect","content":"<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p>\n<p><img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p>\n<p>But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p>\n<p><img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p>\n<blockquote>\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n</blockquote>\n<p>Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p>\n<p>In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p>\n<p><img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p>\n<p>What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p>\n<p>In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p>\n<p>He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p>\n<p>Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p>\n<p><img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p>\n<p>This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p>\n<p>And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p>\n<p>Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p>\n<p>Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p>\n<p>Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p>\n<p>Translation: <b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></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>Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis</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\">\nPowell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 15:13 GMT+8 <a href=https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the...</p>\n\n<a href=\"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146982088","content_text":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.\nWhat does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.\nBut what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.\nThe problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:\n\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n\nBottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"\nIn retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.\nNeedless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"the re-priced RRP facility will become a problem for the banking system fast:the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market).\"\nWhat he means by that is that whereas previously the RRP rate of 0.00% did notrewardallocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.\nIn other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fedalsomade a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"\nHe's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),5bps is too generous, according to Pozsar who warns that the new reverse repo ratewill upset the state of \"singularity\"and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"\nIndeed, as shown below, bills yield less than 5 bps out to 6 months,and money funds have over $2 trillion of bills.They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.\nTo help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves withtoo fewintraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.\nThis process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.\nAnd here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,some bond-heavy banks cannot.As a result, Zoltan predicts that next \"we will notice that some banks (those who cannothandle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"\nBottom line:whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.\nOr, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.\nBottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"\nTranslation: by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.","news_type":1},"isVote":1,"tweetType":1,"viewCount":363,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":false}