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Fatchoco
Fatchoco
·
2021-06-23
Nice
S&P 500 rises for a third day as comeback rally continues
(June 23) U.S. stocks rose on Wednesday, a day after the Nasdaq Composite index hit an all-time high
S&P 500 rises for a third day as comeback rally continues
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Fatchoco
Fatchoco
·
2021-06-23
Nice
US Services Sector Unexpectedly Plunges In June As Manufacturing Survey Hits Record High
Despite the serial disappointment in hard economic data, 'soft' survey data has continued to soar in
US Services Sector Unexpectedly Plunges In June As Manufacturing Survey Hits Record High
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Fatchoco
Fatchoco
·
2021-06-23
Nice
非常抱歉,此主贴已删除
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Fatchoco
Fatchoco
·
2021-06-23
Nice
Chinese Education Stocks gained in morning trading Wednesday
(June 23) Most of Chinese education stocks gained in morning trading Wednesday. Do Hedge Funds Thin
Chinese Education Stocks gained in morning trading Wednesday
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Fatchoco
Fatchoco
·
2021-06-22
Nice
Plug Power moves higher following mixed Q1 results
(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-th
Plug Power moves higher following mixed Q1 results
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Fatchoco
Fatchoco
·
2021-06-22
Nice
Clover Health rally Tuesday, rose over 17% in morning trading
(June 22) Clover Health rally Tuesday, rose over 17% in morning trading.
Clover Health rally Tuesday, rose over 17% in morning trading
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Fatchoco
Fatchoco
·
2021-06-22
Nice
ContextLogic stock fell in morning trading
(June 22) ContextLogic stock fell in morning trading.
ContextLogic stock fell in morning trading
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Fatchoco
Fatchoco
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2021-06-22
Nice
非常抱歉,此主贴已删除
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Fatchoco
Fatchoco
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2021-06-22
Nice
非常抱歉,此主贴已删除
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Fatchoco
Fatchoco
·
2021-06-21
Nice
Coinbase-backed crypto trading firm hits $1 billion valuation after fresh funding
Amber Group, a cryptocurrency financial services firm, has raised $100 million as investors rush to
Coinbase-backed crypto trading firm hits $1 billion valuation after fresh funding
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The S&P 500 gained 0.2%, sitting 0.1% from a record. The Nasdaq Composite climbed 0.2% after closing at a record in the previous session. That was the Nasdaq’s first new high since April 29th as investors have started to rotate back into Big Tech shares.</p>\n<p>Energy names including Exxon Mobil and Chevron climbed as oil prices continued to rise. Brent crude topped $75 a barrel to hit a two-year high on Wednesday.</p>\n<p>Bitcoin staged an impressive comeback on Tuesday that was carrying through on Wednesday.On Tuesday,the cryptocurrency at one point dipped below $30,000 and erased its gains for 2021. But bitcoin ultimately recouped all of the more than 11% loss and finished the session in positive territory, according to data from Coin Metrics.</p>\n<p>At last check,bitcoinwas up another 4% to above $34,000 on Wednesday.</p>\n<p>EV stocks rose in morning trading.<img src=\"https://static.tigerbbs.com/8984f8ae7b74f7b0dab8ee0db778efca\" tg-width=\"281\" tg-height=\"210\" referrerpolicy=\"no-referrer\">Big tech stocks mixed in morning trading.<img src=\"https://static.tigerbbs.com/a6ed5f54b77d44997d7bc777dfccf313\" tg-width=\"282\" tg-height=\"326\" referrerpolicy=\"no-referrer\">Federal Reserve Chairman Jerome Powell testified before the House of Representatives on Tuesday, which appeared to lift sentiment as he reiterated that inflation pressures will betemporary.</p>\n<p>\"Powell outlined how the inflation overshoot is from categories directly affected by reopening,\" said Ed Moya, senior market analyst at Oanda. \"He noted there is extremely strong demand and that the supply has been caught flat-footed.\"</p>\n<p>For June the S&P 500 and Nasdaq Composite are in the green, rising 1% and 3.6%, respectively. The Dow, however, is in the red for the month amid weakness in Caterpillar and JPMorgan.</p>\n<p>Looking ahead, UBS said it maintains a \"positive tactical view on stocks,\" but that gains will be unevenly distributed.</p>\n<p>\"We see potential in regional markets that lagged in the second quarter, particularly China and Japan, as well as among those companies and sectors most exposed to economic reopening, including energy, financials, and US small- and mid-caps,\" the firm wrote in a recent note to clients. UBS said investors should take profits in some of the year-to-date winners that might have limited upside ahead, including real estate, consumer discretionary and industrial names.</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>S&P 500 rises for a third day as comeback rally continues</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\">\nS&P 500 rises for a third day as comeback rally continues\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\">2021-06-23 21:30</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 23) U.S. stocks rose on Wednesday, a day after the Nasdaq Composite index hit an all-time high and the S&P 500 closed just shy of one.</p>\n<p>The Dow Jones Industrial Average advanced 40 points. The S&P 500 gained 0.2%, sitting 0.1% from a record. The Nasdaq Composite climbed 0.2% after closing at a record in the previous session. That was the Nasdaq’s first new high since April 29th as investors have started to rotate back into Big Tech shares.</p>\n<p>Energy names including Exxon Mobil and Chevron climbed as oil prices continued to rise. Brent crude topped $75 a barrel to hit a two-year high on Wednesday.</p>\n<p>Bitcoin staged an impressive comeback on Tuesday that was carrying through on Wednesday.On Tuesday,the cryptocurrency at one point dipped below $30,000 and erased its gains for 2021. But bitcoin ultimately recouped all of the more than 11% loss and finished the session in positive territory, according to data from Coin Metrics.</p>\n<p>At last check,bitcoinwas up another 4% to above $34,000 on Wednesday.</p>\n<p>EV stocks rose in morning trading.<img src=\"https://static.tigerbbs.com/8984f8ae7b74f7b0dab8ee0db778efca\" tg-width=\"281\" tg-height=\"210\" referrerpolicy=\"no-referrer\">Big tech stocks mixed in morning trading.<img src=\"https://static.tigerbbs.com/a6ed5f54b77d44997d7bc777dfccf313\" tg-width=\"282\" tg-height=\"326\" referrerpolicy=\"no-referrer\">Federal Reserve Chairman Jerome Powell testified before the House of Representatives on Tuesday, which appeared to lift sentiment as he reiterated that inflation pressures will betemporary.</p>\n<p>\"Powell outlined how the inflation overshoot is from categories directly affected by reopening,\" said Ed Moya, senior market analyst at Oanda. \"He noted there is extremely strong demand and that the supply has been caught flat-footed.\"</p>\n<p>For June the S&P 500 and Nasdaq Composite are in the green, rising 1% and 3.6%, respectively. The Dow, however, is in the red for the month amid weakness in Caterpillar and JPMorgan.</p>\n<p>Looking ahead, UBS said it maintains a \"positive tactical view on stocks,\" but that gains will be unevenly distributed.</p>\n<p>\"We see potential in regional markets that lagged in the second quarter, particularly China and Japan, as well as among those companies and sectors most exposed to economic reopening, including energy, financials, and US small- and mid-caps,\" the firm wrote in a recent note to clients. UBS said investors should take profits in some of the year-to-date winners that might have limited upside ahead, including real estate, consumer discretionary and industrial names.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141331644","content_text":"(June 23) U.S. stocks rose on Wednesday, a day after the Nasdaq Composite index hit an all-time high and the S&P 500 closed just shy of one.\nThe Dow Jones Industrial Average advanced 40 points. The S&P 500 gained 0.2%, sitting 0.1% from a record. The Nasdaq Composite climbed 0.2% after closing at a record in the previous session. That was the Nasdaq’s first new high since April 29th as investors have started to rotate back into Big Tech shares.\nEnergy names including Exxon Mobil and Chevron climbed as oil prices continued to rise. Brent crude topped $75 a barrel to hit a two-year high on Wednesday.\nBitcoin staged an impressive comeback on Tuesday that was carrying through on Wednesday.On Tuesday,the cryptocurrency at one point dipped below $30,000 and erased its gains for 2021. But bitcoin ultimately recouped all of the more than 11% loss and finished the session in positive territory, according to data from Coin Metrics.\nAt last check,bitcoinwas up another 4% to above $34,000 on Wednesday.\nEV stocks rose in morning trading.Big tech stocks mixed in morning trading.Federal Reserve Chairman Jerome Powell testified before the House of Representatives on Tuesday, which appeared to lift sentiment as he reiterated that inflation pressures will betemporary.\n\"Powell outlined how the inflation overshoot is from categories directly affected by reopening,\" said Ed Moya, senior market analyst at Oanda. \"He noted there is extremely strong demand and that the supply has been caught flat-footed.\"\nFor June the S&P 500 and Nasdaq Composite are in the green, rising 1% and 3.6%, respectively. The Dow, however, is in the red for the month amid weakness in Caterpillar and JPMorgan.\nLooking ahead, UBS said it maintains a \"positive tactical view on stocks,\" but that gains will be unevenly distributed.\n\"We see potential in regional markets that lagged in the second quarter, particularly China and Japan, as well as among those companies and sectors most exposed to economic reopening, including energy, financials, and US small- and mid-caps,\" the firm wrote in a recent note to clients. UBS said investors should take profits in some of the year-to-date winners that might have limited upside ahead, including real estate, consumer discretionary and industrial names.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121899409,"gmtCreate":1624457914001,"gmtModify":1634005839445,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/121899409","repostId":"1165465805","repostType":4,"repost":{"id":"1165465805","kind":"news","pubTimestamp":1624456440,"share":"https://www.laohu8.com/m/news/1165465805?lang=&edition=full","pubTime":"2021-06-23 21:54","market":"us","language":"en","title":"US Services Sector Unexpectedly Plunges In June As Manufacturing Survey Hits Record High","url":"https://stock-news.laohu8.com/highlight/detail?id=1165465805","media":"zerohedge","summary":"Despite the serial disappointment in hard economic data, 'soft' survey data has continued to soar in","content":"<p>Despite the serial disappointment in hard economic data, 'soft' survey data has continued to soar in 2021 but analysts expected today's Markit PMIs to retrace some of those gains. However, reality was notably different with<b>Manufacturing jumping more than expected as Services plunged</b>...</p>\n<ul>\n <li><b>Markit US Manufacturing rose to 62.6</b>(from 62.1) beating expectations of 61.5.</li>\n <li><b>Markit US Services plunged to 64.8</b>(from 70.4) hugely missing expectations of 70.0.</li>\n</ul>\n<p><img src=\"https://static.tigerbbs.com/35b0c420f75ee5896e70db8e0021e0b5\" tg-width=\"500\" tg-height=\"273\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p>\n<p>That is the<b>lowest reading since March for Services</b>and highest reading ever for Manufacturing.</p>\n<p><img src=\"https://static.tigerbbs.com/51111068502f0b7011947e68d4fcef9e\" tg-width=\"500\" tg-height=\"376\" referrerpolicy=\"no-referrer\"><b>Employment issues remained prevalent</b>during June, as numerous panellists mentioned difficulties finding suitably trained candidates for current vacancies.</p>\n<p><b>Price pressures also remained elevated in June.</b>The rate of input price inflation softened slightly but was the second-fastest on record. Manufacturers continued to note rapid increases in raw material and fuel costs, whilst service providers highlighted higher wage bills to attract workers plus greater transportation fees and fuel costs.</p>\n<p>US continues to be the world's \"strongest\" economy based on these soft surveys, even as the US Composite PMI dropped to 63.9...</p>\n<p><img src=\"https://static.tigerbbs.com/84f14abd854febbd1482ff2bb17c56f6\" tg-width=\"500\" tg-height=\"272\" referrerpolicy=\"no-referrer\"><i>Source: Bloomberg</i></p>\n<p>Commenting on the PMI data, Chris Williamson,Chief Business Economist at IHS Markit, said:</p>\n<blockquote>\n “The early PMI indicators point to further impressive growth of the US economy in June, rounding off an unprecedented growth spurt over the second quarter as a whole.\n</blockquote>\n<blockquote>\n “While both output growth and inflows of new orders have come off their peaks in both manufacturing and services, this is as much due to capacity constraints limiting firms’ abilities to cope with demand rather than any cooling of the economy.\n</blockquote>\n<blockquote>\n “Although price gauges have also slipped from May’s all-time highs, it’s clear that the economy continues to run very hot. Prices charged for goods and services are still rising very sharply,\n <b>record supply shortages are getting worse rather than better, firms are fighting to fill vacancies and manufacturers’ warehouse stocks are being depleted at a worrying rate as firms struggle to meet demand.</b>\n</blockquote>\n<blockquote>\n <b>“While the second quarter will likely represent a peaking in the pace of economic growth, a concomitant peaking of inflation is far less assured.”</b>\n</blockquote>\n<p>So - what happens next? Does all that \"hope\" collapse back to reality? Or is \"hope\" the new strategy?</p>\n<p><img src=\"https://static.tigerbbs.com/8cda4e45787d67eefabc511b96083584\" tg-width=\"500\" tg-height=\"269\"><i>Source: Bloomberg</i></p>\n<p>Get back to work Mr.Powell and make it so!</p>\n<ul></ul>","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>US Services Sector Unexpectedly Plunges In June As Manufacturing Survey Hits Record High</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\">\nUS Services Sector Unexpectedly Plunges In June As Manufacturing Survey Hits Record High\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 21:54 GMT+8 <a href=https://www.zerohedge.com/economics/us-services-sector-unexpectedly-plunges-june-manufacturing-survey-hits-record-high><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Despite the serial disappointment in hard economic data, 'soft' survey data has continued to soar in 2021 but analysts expected today's Markit PMIs to retrace some of those gains. However, reality was...</p>\n\n<a href=\"https://www.zerohedge.com/economics/us-services-sector-unexpectedly-plunges-june-manufacturing-survey-hits-record-high\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/economics/us-services-sector-unexpectedly-plunges-june-manufacturing-survey-hits-record-high","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165465805","content_text":"Despite the serial disappointment in hard economic data, 'soft' survey data has continued to soar in 2021 but analysts expected today's Markit PMIs to retrace some of those gains. However, reality was notably different withManufacturing jumping more than expected as Services plunged...\n\nMarkit US Manufacturing rose to 62.6(from 62.1) beating expectations of 61.5.\nMarkit US Services plunged to 64.8(from 70.4) hugely missing expectations of 70.0.\n\nSource: Bloomberg\nThat is thelowest reading since March for Servicesand highest reading ever for Manufacturing.\nEmployment issues remained prevalentduring June, as numerous panellists mentioned difficulties finding suitably trained candidates for current vacancies.\nPrice pressures also remained elevated in June.The rate of input price inflation softened slightly but was the second-fastest on record. Manufacturers continued to note rapid increases in raw material and fuel costs, whilst service providers highlighted higher wage bills to attract workers plus greater transportation fees and fuel costs.\nUS continues to be the world's \"strongest\" economy based on these soft surveys, even as the US Composite PMI dropped to 63.9...\nSource: Bloomberg\nCommenting on the PMI data, Chris Williamson,Chief Business Economist at IHS Markit, said:\n\n “The early PMI indicators point to further impressive growth of the US economy in June, rounding off an unprecedented growth spurt over the second quarter as a whole.\n\n\n “While both output growth and inflows of new orders have come off their peaks in both manufacturing and services, this is as much due to capacity constraints limiting firms’ abilities to cope with demand rather than any cooling of the economy.\n\n\n “Although price gauges have also slipped from May’s all-time highs, it’s clear that the economy continues to run very hot. Prices charged for goods and services are still rising very sharply,\n record supply shortages are getting worse rather than better, firms are fighting to fill vacancies and manufacturers’ warehouse stocks are being depleted at a worrying rate as firms struggle to meet demand.\n\n\n“While the second quarter will likely represent a peaking in the pace of economic growth, a concomitant peaking of inflation is far less assured.”\n\nSo - what happens next? Does all that \"hope\" collapse back to reality? Or is \"hope\" the new strategy?\nSource: Bloomberg\nGet back to work Mr.Powell and make it so!","news_type":1},"isVote":1,"tweetType":1,"viewCount":476,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121890766,"gmtCreate":1624457900455,"gmtModify":1634005840371,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/121890766","repostId":"1155993250","repostType":4,"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121890087,"gmtCreate":1624457887349,"gmtModify":1634005841201,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/121890087","repostId":"1170395888","repostType":4,"repost":{"id":"1170395888","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":1624457324,"share":"https://www.laohu8.com/m/news/1170395888?lang=&edition=full","pubTime":"2021-06-23 22:08","market":"us","language":"en","title":"Chinese Education Stocks gained in morning trading Wednesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1170395888","media":"Tiger Newspress","summary":"(June 23) Most of Chinese education stocks gained in morning trading Wednesday.\n\nDo Hedge Funds Thin","content":"<p>(June 23) Most of Chinese education stocks gained in morning trading Wednesday.</p>\n<p><img src=\"https://static.tigerbbs.com/57df6b30357b75fb3994787c3780885e\" tg-width=\"281\" tg-height=\"241\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Do Hedge Funds Think EDU Is A Good Stock To Buy Now?</b></p>\n<p>At first quarter's end, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 5% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards EDU over the last 23 quarters. With the smart money's positions undergoing their usual ebb and flow, there exists an \"upper tier\" of noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).</p>\n<p><img src=\"https://static.tigerbbs.com/055cab6f7b38ad60f8784706fac000bf\" tg-width=\"680\" tg-height=\"433\" referrerpolicy=\"no-referrer\">The largest stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) was held byD1 Capital Partners, which reported holding $350.5 million worth of stock at the end of December. It was followed by GQG Partners with a $319.8 million position. Other investors bullish on the company included Tiger Global Management LLC, Farallon Capital, and Alkeon Capital Management. In terms of the portfolio weights assigned to each position Serenity Capital allocated the biggest weight to New Oriental Education & Technology Group Inc. (NYSE:EDU), around 42.13% of its 13F portfolio.Kylin Managementis also relatively very bullish on the stock, designating 18.73 percent of its 13F equity portfolio to EDU.</p>\n<p>As industrywide interest jumped, some big names were breaking ground themselves. Thunderbird Partners, managed by David Fear, established the most valuable position in New Oriental Education & Technology Group Inc. (NYSE:EDU). Thunderbird Partners had $16.7 million invested in the company at the end of the quarter. Eduardo Costa'sCalixto Global Investorsalso made a $14.7 million investment in the stock during the quarter. The other funds with brand new EDU positions are Matthew Hulsizer's PEAK6 Capital Management, Campbell Wilson'sOld Well Partners, and Daryl Smith's Kayak Investment Partners.</p>\n<p>Let's now review hedge fund activity in other stocks - not necessarily in the same industry as New Oriental Education & Technology Group Inc. (NYSE:EDU) but similarly valued. These stocks are Kansas City Southern (NYSE:KSU), Nucor Corporation (NYSE:NUE), Franco-Nevada Corporation (NYSE:FNV), Fortive Corporation (NYSE:FTV), The Hartford Financial Services Group Inc (NYSE:HIG), Itau Unibanco Holding SA (NYSE:ITUB), and Trip.com Group Limited (NASDAQ:TCOM). All of these stocks' market caps are closest to EDU's market cap.</p>\n<p>As you can see these stocks had an average of 32.1 hedge funds with bullish positions and the average amount invested in these stocks was $1239 million. That figure was $2188 million in EDU's case. The Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Itau Unibanco Holding SA (NYSE:ITUB) is the least popular one with only 12 bullish hedge fund positions. New Oriental Education & Technology Group Inc. (NYSE:EDU) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for EDU is 70.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 5 most popular stocksamong hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.4% in 2021 through June 18th and beat the market again by 6.1 percentage points. Unfortunately EDU wasn't nearly as popular as these 5 stocks and hedge funds that were betting on EDU were disappointed as the stock returned -45.8% since the end of March (through 6/18) and underperformed the market.</p>\n<p><b>TAL Education: Not Ready To Handle A New Wave Of Market Rivalry</b></p>\n<p><b>Summary</b></p>\n<ul>\n <li>FY2Q2021 revenue and XRS online growth fell below consensus expectations.</li>\n <li>In 2020, the online K12 education market size in China reached CNY 89 billion, with a year-on-year increase of 37.6%.</li>\n <li>Unlike its nemesis New Oriental, TAL's investment amount into other firms has been continuously decreasing since 2016.</li>\n <li>With COVID-19 reshaping the market, tech giants have started to make big moves into the digital education industry.</li>\n <li>We do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth.</li>\n</ul>\n<p>TAL Education Group (also known as Tomorrow Advanced Learning) (TAL) is an education company that focuses on K12 students in China. It also has business segments in adult education, early education & parenting and education informatization. The firm takes quality education and extracurricular tutoring as the carrier system to serve on a global scale. Founded in 2003, it went public on NYSE in 2010.</p>\n<p>In China, TAL competes with New Oriental (EDU), a company founded back in 1993. It can be said that both firms are leading China's education industry; for one, the market coverage of the two is evenly matched. From the latest information, New Oriental has active businesses in a total of 98 cities in China and one foreign city (Toronto). TAL has laid its business in a total of 90 cities across China.</p>\n<p>As parents in the fast-growing country pay more and more attention to their children's basic education and e-learning is increasingly popular, the vast field of primary and secondary education and online education has eventually become a battleground for companies.</p>\n<p><b>Decent financial results</b></p>\n<p>TAL's 2Q 2021financial resultsweren't very impressive, as the firm earned USD 1.10 billion (up 20.8% year-on-year) compared to analysts' expectations of USD 1.12 billion for the quarter. However, it reported USD 0.08 earnings per share for the quarter, beating analysts' consensus estimates of USD 0.05 by USD 0.03. TAL Education Group had a return on equity of 0.21% and a net margin of 1.35% compared to 8.97% in 1Q 2021 due to strong competition presented in the primary education segment. It includes local pure online education companies such asYuanfudaoandZuoyebangthat recently completed mega-rounds of investment. Meanwhile, the non-GAAP operating margins were down to -1.1% compared to 9.8% in 2Q 2020 as customer acquisition costs rose backed by the fierce competition.</p>\n<p><img src=\"https://static.tigerbbs.com/e0bea7dc26e41fa05c9d8fef1c355e7d\" tg-width=\"640\" tg-height=\"382\" referrerpolicy=\"no-referrer\"><b>New market opportunities</b></p>\n<p>In the past five to six years, with the support of the state, the development of technology, and the inflow of capital, China's online K12 education industry has undergone rapid development. In 2020, the overall online K12 education market size in China reached approximately CNY 89 billion, with a year-over-year increase of 37.6%.</p>\n<p>In 2019, the penetration rate of K12 online education in China was about 15%. As COVID-19 struck during the beginning of 2020, the advantages of online education have been very apparent. The penetration rate of online K12 education reached its peak in March 2020. Although the industry is still in the stage of consumption popularization in China, there are obvious trends. This field consistently demonstrates a long-term massive demand as an emerging way of obtaining education information and services. Hence, the industry penetration rate has huge room for improvement in the future. According to thepredictionof the Chinese Academy of Sciences, the penetration rate of the K12 online education industry may exceed 55% by 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/6c29976387d48527f1570b7fbf255f1e\" tg-width=\"640\" tg-height=\"351\" referrerpolicy=\"no-referrer\"></p>\n<p>The fact that TAL owns 871 learning centers (offline tutoring centers), 648 Peiyou (好未来培优) centers and 128 one-on-one centers is the reason why we believe TAL is not pandemic-proof. Possible closure of these centers by the government in order to control the spread of COVID-19 will lead to huge declines in the firm's financials.</p>\n<p>TAL does own online education apps – but they can't compete with the likes of VIPKID, Yuanfudao, and Zuoyebang, even though there has been an increase in revenue contribution of Xueersi TAL’s online app from 17% in FY2Q2020 to 26% in FY2Q2021.</p>\n<p>The re-emergence of COVID-19 in China is a headwind for TAL's offline classroom-based training business. Although the vaccine has emerged, children below the age of 18 are not allowed to administer it. TAL's stock price might soon fall when most investors realize that the company still focused on formal or classroom-based tutorials and training.</p>\n<p>TAL has had stable growth since getting listed about nine years ago. Revenue has increased about 30 times, at a compound annual rate of 45.7% since then and gross margins averaged as high as 50.8%.</p>\n<p>Results from the last fiscal year ending February were materially affected by COVID-19 induced restrictions which had started early in China. Offline operations, primarily core Peiyou small classes, had to be quickly transferred to online platforms. As a result, some revenue was lost due to the lower selling prices for online classes, the total revenue in Q4 grew just 6.2% compared to 44.1% the previous year. Student enrollments were still up on aggregate with a rate of, 56.6% year-over-year.</p>\n<p><b>Less venture investment presence</b></p>\n<p>Since 2017, the number of investments by TAL has been decreasing. New Oriental has been more aggressive compared to TAL since 2018. TAL's financing has dropped sharply from 24 in 2016 to only two in 2020. The two investments were made on an interactive learning SaaS platform UMU and an online children's math tutoring app.</p>\n<p><img src=\"https://static.tigerbbs.com/6af6af29d7cc826e97357d73c53b7a51\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\"></p>\n<p><b>The entrance of tech giants</b></p>\n<p>Sales and marketing expenses surged as the competition got tough for online players in the summer. Sales and marketing expenses surged 64% year-on-year and made up 22% of the total revenue, up 4.9% year-on-year.</p>\n<p>With upstarts raising mega-rounds, things might get even tougher for TAL as more companies with huge capital to spend on marketing will try to grab market share. Other than that, Chinese giants such as Alibaba(NYSE:BABA), NetEase(NASDAQ:NTES), Tencent(OTCPK:TCEHY), ByteDance and Baidu(NASDAQ:BIDU)engage their businesses into online education. TAL needs to upgrade its online education business to stay afloat.</p>\n<p>The education field is likely to be divided up by companies outside of this industry. It is also worth mentioning that the firm's key competitiveness is its in-depth application of technologies such as big data and live broadcast intelligence in China's online education industry. The firm has not spent much on research and development in terms of proprietary tuition-based technology. There are few existing barriers to entry. Teaching staff and market share could be theoretically purchased by new entrants.</p>\n<p><b>Allegation probe</b></p>\n<p>In April 2020,TAL became one of the scandalous US-listed Chinese firmsafter admitting to inflate sales figures driven by employee wrongdoing, further hindering market confidence after Luckin Coffee's(OTCPK:LKNCY)USD 310 million fraud.</p>\n<p>Two years before this event, Muddy Waters released areportnaming the company 'A Real Business With Fake Financials.' The report claimed that \"TAL commits fraud in the financials for its core Peiyou business. The Peiyou fraud is more difficult to quantify, but our research suggests fraudulent overstatement of approximately 25% to 30% of the company’s revenue.\"</p>\n<p><b>Bottom line</b></p>\n<p>This might not be a suitable time to invest in TAL Education. We give a neutral rating to the stock because we do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth. Therefore, TAL does have a chance to enhance its online business and compete with newcomers and experienced enterprises, including the likes of Zuoyebang, Yuanfudao, Baidu and NetEase.</p>\n<h3>Gaotu Group: Policy Overhang Keeps The Risk-Reward Balanced</h3>\n<p><b>Summary</b></p>\n<ul>\n <li>The longer-term outlook remains bright for Gaotu Group (formerly GSX TechEdu).</li>\n <li>Adverse regulatory changes remain the key risk for the near-term outlook, but a healthier longer-term dynamic should benefit profitability.</li>\n <li>Growth drivers such as alternative student acquisition channels and increased contribution from adult education should help as well.</li>\n <li>Despite the discounted EV/Sales multiple, I would hold off on initiating a position for now pending clearance of the policy overhang.</li>\n</ul>\n<p>Newly rebranded Gaotu Group’s (GOTU/GSX) recently heldinvestor eventfeatured an interesting tour of its operation and top management strategy presentations, which offered timely insight into the longer-term outlook. In particular, GSX emphasized its continued focus on teaching excellence, service quality, and technology investments as key differentiators. However, policy risks remains the biggest concern, and if government intervention in the online after-school tutoring space turns out to be stricter than expected, I see material downside risks to GSX’s near-term growth trajectory. On the flip side, it could also result in a healthier industry dynamic, which should drive narrowing losses as well. While the policy reform overhang makes it difficult to turn bullish, GSX’s discounted c. 3x EV/Sales multiple also looks undemanding, keeping the risk/reward fairly balanced.</p>\n<p><b>Growing Importance of Alternative Student Acquisition Channels</b></p>\n<p>Worryingly, GSX has seen reduced traffic acquisition in FQ4 ‘20 and FQ1 ‘21, with a whopping c. 20% lower sales lead cost in Jan-Feb 2021 (down from the Nov-Dec 2020 period). The recent decline is likely attributable to regulatory uncertainties around online traffic acquisition triggered by a recent Ministry of Education (MOE)interviewearlier this year. The significantly pressured new enrolment growth in FQ1 ‘21 may have been one of the reasons for the lower-than-expected top-line guidance as well. In response, management is exploring new student acquisition channels to offset the pressure – this includes the offline, short video, and live streaming e-commerce channels, among others. The good news is that successful expansion here could see the student acquisition cost lowered by over 50%, which is positive for the margin outlook (GSX is currently loss-making at the operating level).</p>\n<p><img src=\"https://static.tigerbbs.com/e2602f4695bfb8d694d546b29bca897a\" tg-width=\"602\" tg-height=\"288\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Investor Presentation Slides</p>\n<p>However, GSX is not alone in this regard – other online AST players have initiated similar moves, from online one-on-one and small-class players such as 51talk (COE), VIPKID, and New Oriental subsidiary Koolearn, whose large-class coverage has reached c.100 cities. Similarly, online large-class after-school tutoring players have also started expanding into offline acquisition through partnerships, with TAL Education (TAL) subsidiaryXueersi.comalsotying upwith Lenovo (OTCPK:LNVGY) in recent months. And with private players like Zuoyebang alsobuildingoffline traffic acquisition teams, the competitive pressures could drive downside to the near-term outlook.</p>\n<p><b>Adult Education Set to be Another Top-Line Growth Driver</b></p>\n<p>Within the Chinese education market, adult education is also emerging as a potential growth opportunity as people are increasingly looking to upskill in an uncertain job market. Alongside income level rises, people are also spending more on education to better prepare themselves for career development. As a result, gross billings have grown at a CAGR of 24.5% and are expected to grow further at 22.4% CAGR into fiscal 2023, reaching RMB265 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/98361534c62ba1d36e6adf2696116a49\" tg-width=\"602\" tg-height=\"200\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Listing Prospectus Filing</p>\n<p>Notably, while GSX currently expects fiscal 2021 revenue growth to be in the range of 70-80% Y/Y, the adult education business is guided to be a key growth driver at +100% Y/Y revenue growth. Considering that adult education accounted for over 10% of GSX’s revenue in fiscal 2020, I expect the contribution to continue rising over time. Key areas of growth here include English training, graduate school admission exam prep, and finance-related courses. Longer-term, I think the adult education business could even see higher gross margins than K-12 after-school tutoring due to the higher enrolment/tutor ratio.</p>\n<p><b>Online Regulations Remain the Key Concern</b></p>\n<p>Looking ahead, potential online regulations in the after-school tutoring space are concerning, with likely measures including a fake advertising ban, increased control over marketing spend in education, and more stringent quality requirements for institutions and instructors. On the flip side, these measures will also be beneficial to the overall industry development longer-term, allowing online after-school tutoring players to reinvest more dollars into improving the product and teaching quality. While clarity around the new regulations for both the offline/online markets remains lacking, I see a more positive outcome than the prior industry experience in 2018.</p>\n<p>Any restrictions on marketing limitation will likely have a negative impact on enrolment and sales growth in the near term but will also benefit margins due to the lower marketing spending. In turn, this should improve the longer-term economics of the business and drive narrowing losses in the upcoming quarter. Another key positive from the slower growth is that GSX will be able to focus on improving its product/service quality and extract more student lifetime value while also preserving its robust balance sheet. As of end-2020, GSX had a c. RMB8.2 billion cash position (including liquid investments), which should allow it to weather any unforeseen negative policy impacts.</p>\n<p><img src=\"https://static.tigerbbs.com/a96e5d1f7d5a8fb561314a81180e06dd\" tg-width=\"602\" tg-height=\"280\" referrerpolicy=\"no-referrer\"></p>\n<p>Source: GSX Investor Presentation Slides</p>\n<p><b>Final Take</b></p>\n<p>Overall, regulations on marketing will likely have a negative impact on enrolment and top-line growth but should also lead to a healthier operating dynamic and narrowing losses ahead. With GSX also focused on alternative acquisition channels and tapping into markets such as adult education, I think the company could surprise positively in the upcoming quarters. While the GSX share price has suffered due to the Archegos Capital event and policy concerns, its forward EV/Sales multiple has declined significantly to c. 3x, and the widening relative discount to peers like TAL and EDU likely means the negatives have been priced in. Until the policy overhang has been lifted, however, I see the risk/reward as balanced at current levels.</p>\n<p><img src=\"https://static.tigerbbs.com/dd579bffc2a24fd55d7ccc3346eae7cb\" tg-width=\"635\" tg-height=\"436\" referrerpolicy=\"no-referrer\">Data by YCharts</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>Chinese Education Stocks gained in morning trading Wednesday</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\">\nChinese Education Stocks gained in morning trading Wednesday\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\">2021-06-23 22:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 23) Most of Chinese education stocks gained in morning trading Wednesday.</p>\n<p><img src=\"https://static.tigerbbs.com/57df6b30357b75fb3994787c3780885e\" tg-width=\"281\" tg-height=\"241\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Do Hedge Funds Think EDU Is A Good Stock To Buy Now?</b></p>\n<p>At first quarter's end, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 5% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards EDU over the last 23 quarters. With the smart money's positions undergoing their usual ebb and flow, there exists an \"upper tier\" of noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).</p>\n<p><img src=\"https://static.tigerbbs.com/055cab6f7b38ad60f8784706fac000bf\" tg-width=\"680\" tg-height=\"433\" referrerpolicy=\"no-referrer\">The largest stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) was held byD1 Capital Partners, which reported holding $350.5 million worth of stock at the end of December. It was followed by GQG Partners with a $319.8 million position. Other investors bullish on the company included Tiger Global Management LLC, Farallon Capital, and Alkeon Capital Management. In terms of the portfolio weights assigned to each position Serenity Capital allocated the biggest weight to New Oriental Education & Technology Group Inc. (NYSE:EDU), around 42.13% of its 13F portfolio.Kylin Managementis also relatively very bullish on the stock, designating 18.73 percent of its 13F equity portfolio to EDU.</p>\n<p>As industrywide interest jumped, some big names were breaking ground themselves. Thunderbird Partners, managed by David Fear, established the most valuable position in New Oriental Education & Technology Group Inc. (NYSE:EDU). Thunderbird Partners had $16.7 million invested in the company at the end of the quarter. Eduardo Costa'sCalixto Global Investorsalso made a $14.7 million investment in the stock during the quarter. The other funds with brand new EDU positions are Matthew Hulsizer's PEAK6 Capital Management, Campbell Wilson'sOld Well Partners, and Daryl Smith's Kayak Investment Partners.</p>\n<p>Let's now review hedge fund activity in other stocks - not necessarily in the same industry as New Oriental Education & Technology Group Inc. (NYSE:EDU) but similarly valued. These stocks are Kansas City Southern (NYSE:KSU), Nucor Corporation (NYSE:NUE), Franco-Nevada Corporation (NYSE:FNV), Fortive Corporation (NYSE:FTV), The Hartford Financial Services Group Inc (NYSE:HIG), Itau Unibanco Holding SA (NYSE:ITUB), and Trip.com Group Limited (NASDAQ:TCOM). All of these stocks' market caps are closest to EDU's market cap.</p>\n<p>As you can see these stocks had an average of 32.1 hedge funds with bullish positions and the average amount invested in these stocks was $1239 million. That figure was $2188 million in EDU's case. The Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Itau Unibanco Holding SA (NYSE:ITUB) is the least popular one with only 12 bullish hedge fund positions. New Oriental Education & Technology Group Inc. (NYSE:EDU) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for EDU is 70.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 5 most popular stocksamong hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.4% in 2021 through June 18th and beat the market again by 6.1 percentage points. Unfortunately EDU wasn't nearly as popular as these 5 stocks and hedge funds that were betting on EDU were disappointed as the stock returned -45.8% since the end of March (through 6/18) and underperformed the market.</p>\n<p><b>TAL Education: Not Ready To Handle A New Wave Of Market Rivalry</b></p>\n<p><b>Summary</b></p>\n<ul>\n <li>FY2Q2021 revenue and XRS online growth fell below consensus expectations.</li>\n <li>In 2020, the online K12 education market size in China reached CNY 89 billion, with a year-on-year increase of 37.6%.</li>\n <li>Unlike its nemesis New Oriental, TAL's investment amount into other firms has been continuously decreasing since 2016.</li>\n <li>With COVID-19 reshaping the market, tech giants have started to make big moves into the digital education industry.</li>\n <li>We do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth.</li>\n</ul>\n<p>TAL Education Group (also known as Tomorrow Advanced Learning) (TAL) is an education company that focuses on K12 students in China. It also has business segments in adult education, early education & parenting and education informatization. The firm takes quality education and extracurricular tutoring as the carrier system to serve on a global scale. Founded in 2003, it went public on NYSE in 2010.</p>\n<p>In China, TAL competes with New Oriental (EDU), a company founded back in 1993. It can be said that both firms are leading China's education industry; for one, the market coverage of the two is evenly matched. From the latest information, New Oriental has active businesses in a total of 98 cities in China and one foreign city (Toronto). TAL has laid its business in a total of 90 cities across China.</p>\n<p>As parents in the fast-growing country pay more and more attention to their children's basic education and e-learning is increasingly popular, the vast field of primary and secondary education and online education has eventually become a battleground for companies.</p>\n<p><b>Decent financial results</b></p>\n<p>TAL's 2Q 2021financial resultsweren't very impressive, as the firm earned USD 1.10 billion (up 20.8% year-on-year) compared to analysts' expectations of USD 1.12 billion for the quarter. However, it reported USD 0.08 earnings per share for the quarter, beating analysts' consensus estimates of USD 0.05 by USD 0.03. TAL Education Group had a return on equity of 0.21% and a net margin of 1.35% compared to 8.97% in 1Q 2021 due to strong competition presented in the primary education segment. It includes local pure online education companies such asYuanfudaoandZuoyebangthat recently completed mega-rounds of investment. Meanwhile, the non-GAAP operating margins were down to -1.1% compared to 9.8% in 2Q 2020 as customer acquisition costs rose backed by the fierce competition.</p>\n<p><img src=\"https://static.tigerbbs.com/e0bea7dc26e41fa05c9d8fef1c355e7d\" tg-width=\"640\" tg-height=\"382\" referrerpolicy=\"no-referrer\"><b>New market opportunities</b></p>\n<p>In the past five to six years, with the support of the state, the development of technology, and the inflow of capital, China's online K12 education industry has undergone rapid development. In 2020, the overall online K12 education market size in China reached approximately CNY 89 billion, with a year-over-year increase of 37.6%.</p>\n<p>In 2019, the penetration rate of K12 online education in China was about 15%. As COVID-19 struck during the beginning of 2020, the advantages of online education have been very apparent. The penetration rate of online K12 education reached its peak in March 2020. Although the industry is still in the stage of consumption popularization in China, there are obvious trends. This field consistently demonstrates a long-term massive demand as an emerging way of obtaining education information and services. Hence, the industry penetration rate has huge room for improvement in the future. According to thepredictionof the Chinese Academy of Sciences, the penetration rate of the K12 online education industry may exceed 55% by 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/6c29976387d48527f1570b7fbf255f1e\" tg-width=\"640\" tg-height=\"351\" referrerpolicy=\"no-referrer\"></p>\n<p>The fact that TAL owns 871 learning centers (offline tutoring centers), 648 Peiyou (好未来培优) centers and 128 one-on-one centers is the reason why we believe TAL is not pandemic-proof. Possible closure of these centers by the government in order to control the spread of COVID-19 will lead to huge declines in the firm's financials.</p>\n<p>TAL does own online education apps – but they can't compete with the likes of VIPKID, Yuanfudao, and Zuoyebang, even though there has been an increase in revenue contribution of Xueersi TAL’s online app from 17% in FY2Q2020 to 26% in FY2Q2021.</p>\n<p>The re-emergence of COVID-19 in China is a headwind for TAL's offline classroom-based training business. Although the vaccine has emerged, children below the age of 18 are not allowed to administer it. TAL's stock price might soon fall when most investors realize that the company still focused on formal or classroom-based tutorials and training.</p>\n<p>TAL has had stable growth since getting listed about nine years ago. Revenue has increased about 30 times, at a compound annual rate of 45.7% since then and gross margins averaged as high as 50.8%.</p>\n<p>Results from the last fiscal year ending February were materially affected by COVID-19 induced restrictions which had started early in China. Offline operations, primarily core Peiyou small classes, had to be quickly transferred to online platforms. As a result, some revenue was lost due to the lower selling prices for online classes, the total revenue in Q4 grew just 6.2% compared to 44.1% the previous year. Student enrollments were still up on aggregate with a rate of, 56.6% year-over-year.</p>\n<p><b>Less venture investment presence</b></p>\n<p>Since 2017, the number of investments by TAL has been decreasing. New Oriental has been more aggressive compared to TAL since 2018. TAL's financing has dropped sharply from 24 in 2016 to only two in 2020. The two investments were made on an interactive learning SaaS platform UMU and an online children's math tutoring app.</p>\n<p><img src=\"https://static.tigerbbs.com/6af6af29d7cc826e97357d73c53b7a51\" tg-width=\"640\" tg-height=\"398\" referrerpolicy=\"no-referrer\"></p>\n<p><b>The entrance of tech giants</b></p>\n<p>Sales and marketing expenses surged as the competition got tough for online players in the summer. Sales and marketing expenses surged 64% year-on-year and made up 22% of the total revenue, up 4.9% year-on-year.</p>\n<p>With upstarts raising mega-rounds, things might get even tougher for TAL as more companies with huge capital to spend on marketing will try to grab market share. Other than that, Chinese giants such as Alibaba(NYSE:BABA), NetEase(NASDAQ:NTES), Tencent(OTCPK:TCEHY), ByteDance and Baidu(NASDAQ:BIDU)engage their businesses into online education. TAL needs to upgrade its online education business to stay afloat.</p>\n<p>The education field is likely to be divided up by companies outside of this industry. It is also worth mentioning that the firm's key competitiveness is its in-depth application of technologies such as big data and live broadcast intelligence in China's online education industry. The firm has not spent much on research and development in terms of proprietary tuition-based technology. There are few existing barriers to entry. Teaching staff and market share could be theoretically purchased by new entrants.</p>\n<p><b>Allegation probe</b></p>\n<p>In April 2020,TAL became one of the scandalous US-listed Chinese firmsafter admitting to inflate sales figures driven by employee wrongdoing, further hindering market confidence after Luckin Coffee's(OTCPK:LKNCY)USD 310 million fraud.</p>\n<p>Two years before this event, Muddy Waters released areportnaming the company 'A Real Business With Fake Financials.' The report claimed that \"TAL commits fraud in the financials for its core Peiyou business. The Peiyou fraud is more difficult to quantify, but our research suggests fraudulent overstatement of approximately 25% to 30% of the company’s revenue.\"</p>\n<p><b>Bottom line</b></p>\n<p>This might not be a suitable time to invest in TAL Education. We give a neutral rating to the stock because we do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth. Therefore, TAL does have a chance to enhance its online business and compete with newcomers and experienced enterprises, including the likes of Zuoyebang, Yuanfudao, Baidu and NetEase.</p>\n<h3>Gaotu Group: Policy Overhang Keeps The Risk-Reward Balanced</h3>\n<p><b>Summary</b></p>\n<ul>\n <li>The longer-term outlook remains bright for Gaotu Group (formerly GSX TechEdu).</li>\n <li>Adverse regulatory changes remain the key risk for the near-term outlook, but a healthier longer-term dynamic should benefit profitability.</li>\n <li>Growth drivers such as alternative student acquisition channels and increased contribution from adult education should help as well.</li>\n <li>Despite the discounted EV/Sales multiple, I would hold off on initiating a position for now pending clearance of the policy overhang.</li>\n</ul>\n<p>Newly rebranded Gaotu Group’s (GOTU/GSX) recently heldinvestor eventfeatured an interesting tour of its operation and top management strategy presentations, which offered timely insight into the longer-term outlook. In particular, GSX emphasized its continued focus on teaching excellence, service quality, and technology investments as key differentiators. However, policy risks remains the biggest concern, and if government intervention in the online after-school tutoring space turns out to be stricter than expected, I see material downside risks to GSX’s near-term growth trajectory. On the flip side, it could also result in a healthier industry dynamic, which should drive narrowing losses as well. While the policy reform overhang makes it difficult to turn bullish, GSX’s discounted c. 3x EV/Sales multiple also looks undemanding, keeping the risk/reward fairly balanced.</p>\n<p><b>Growing Importance of Alternative Student Acquisition Channels</b></p>\n<p>Worryingly, GSX has seen reduced traffic acquisition in FQ4 ‘20 and FQ1 ‘21, with a whopping c. 20% lower sales lead cost in Jan-Feb 2021 (down from the Nov-Dec 2020 period). The recent decline is likely attributable to regulatory uncertainties around online traffic acquisition triggered by a recent Ministry of Education (MOE)interviewearlier this year. The significantly pressured new enrolment growth in FQ1 ‘21 may have been one of the reasons for the lower-than-expected top-line guidance as well. In response, management is exploring new student acquisition channels to offset the pressure – this includes the offline, short video, and live streaming e-commerce channels, among others. The good news is that successful expansion here could see the student acquisition cost lowered by over 50%, which is positive for the margin outlook (GSX is currently loss-making at the operating level).</p>\n<p><img src=\"https://static.tigerbbs.com/e2602f4695bfb8d694d546b29bca897a\" tg-width=\"602\" tg-height=\"288\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Investor Presentation Slides</p>\n<p>However, GSX is not alone in this regard – other online AST players have initiated similar moves, from online one-on-one and small-class players such as 51talk (COE), VIPKID, and New Oriental subsidiary Koolearn, whose large-class coverage has reached c.100 cities. Similarly, online large-class after-school tutoring players have also started expanding into offline acquisition through partnerships, with TAL Education (TAL) subsidiaryXueersi.comalsotying upwith Lenovo (OTCPK:LNVGY) in recent months. And with private players like Zuoyebang alsobuildingoffline traffic acquisition teams, the competitive pressures could drive downside to the near-term outlook.</p>\n<p><b>Adult Education Set to be Another Top-Line Growth Driver</b></p>\n<p>Within the Chinese education market, adult education is also emerging as a potential growth opportunity as people are increasingly looking to upskill in an uncertain job market. Alongside income level rises, people are also spending more on education to better prepare themselves for career development. As a result, gross billings have grown at a CAGR of 24.5% and are expected to grow further at 22.4% CAGR into fiscal 2023, reaching RMB265 billion.</p>\n<p><img src=\"https://static.tigerbbs.com/98361534c62ba1d36e6adf2696116a49\" tg-width=\"602\" tg-height=\"200\" referrerpolicy=\"no-referrer\"></p>\n<p>Source:GSX Listing Prospectus Filing</p>\n<p>Notably, while GSX currently expects fiscal 2021 revenue growth to be in the range of 70-80% Y/Y, the adult education business is guided to be a key growth driver at +100% Y/Y revenue growth. Considering that adult education accounted for over 10% of GSX’s revenue in fiscal 2020, I expect the contribution to continue rising over time. Key areas of growth here include English training, graduate school admission exam prep, and finance-related courses. Longer-term, I think the adult education business could even see higher gross margins than K-12 after-school tutoring due to the higher enrolment/tutor ratio.</p>\n<p><b>Online Regulations Remain the Key Concern</b></p>\n<p>Looking ahead, potential online regulations in the after-school tutoring space are concerning, with likely measures including a fake advertising ban, increased control over marketing spend in education, and more stringent quality requirements for institutions and instructors. On the flip side, these measures will also be beneficial to the overall industry development longer-term, allowing online after-school tutoring players to reinvest more dollars into improving the product and teaching quality. While clarity around the new regulations for both the offline/online markets remains lacking, I see a more positive outcome than the prior industry experience in 2018.</p>\n<p>Any restrictions on marketing limitation will likely have a negative impact on enrolment and sales growth in the near term but will also benefit margins due to the lower marketing spending. In turn, this should improve the longer-term economics of the business and drive narrowing losses in the upcoming quarter. Another key positive from the slower growth is that GSX will be able to focus on improving its product/service quality and extract more student lifetime value while also preserving its robust balance sheet. As of end-2020, GSX had a c. RMB8.2 billion cash position (including liquid investments), which should allow it to weather any unforeseen negative policy impacts.</p>\n<p><img src=\"https://static.tigerbbs.com/a96e5d1f7d5a8fb561314a81180e06dd\" tg-width=\"602\" tg-height=\"280\" referrerpolicy=\"no-referrer\"></p>\n<p>Source: GSX Investor Presentation Slides</p>\n<p><b>Final Take</b></p>\n<p>Overall, regulations on marketing will likely have a negative impact on enrolment and top-line growth but should also lead to a healthier operating dynamic and narrowing losses ahead. With GSX also focused on alternative acquisition channels and tapping into markets such as adult education, I think the company could surprise positively in the upcoming quarters. While the GSX share price has suffered due to the Archegos Capital event and policy concerns, its forward EV/Sales multiple has declined significantly to c. 3x, and the widening relative discount to peers like TAL and EDU likely means the negatives have been priced in. Until the policy overhang has been lifted, however, I see the risk/reward as balanced at current levels.</p>\n<p><img src=\"https://static.tigerbbs.com/dd579bffc2a24fd55d7ccc3346eae7cb\" tg-width=\"635\" tg-height=\"436\" referrerpolicy=\"no-referrer\">Data by YCharts</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOTU":"高途","EDU":"新东方","TAL":"好未来"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170395888","content_text":"(June 23) Most of Chinese education stocks gained in morning trading Wednesday.\n\nDo Hedge Funds Think EDU Is A Good Stock To Buy Now?\nAt first quarter's end, a total of 45 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 5% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards EDU over the last 23 quarters. With the smart money's positions undergoing their usual ebb and flow, there exists an \"upper tier\" of noteworthy hedge fund managers who were upping their holdings significantly (or already accumulated large positions).\nThe largest stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) was held byD1 Capital Partners, which reported holding $350.5 million worth of stock at the end of December. It was followed by GQG Partners with a $319.8 million position. Other investors bullish on the company included Tiger Global Management LLC, Farallon Capital, and Alkeon Capital Management. In terms of the portfolio weights assigned to each position Serenity Capital allocated the biggest weight to New Oriental Education & Technology Group Inc. (NYSE:EDU), around 42.13% of its 13F portfolio.Kylin Managementis also relatively very bullish on the stock, designating 18.73 percent of its 13F equity portfolio to EDU.\nAs industrywide interest jumped, some big names were breaking ground themselves. Thunderbird Partners, managed by David Fear, established the most valuable position in New Oriental Education & Technology Group Inc. (NYSE:EDU). Thunderbird Partners had $16.7 million invested in the company at the end of the quarter. Eduardo Costa'sCalixto Global Investorsalso made a $14.7 million investment in the stock during the quarter. The other funds with brand new EDU positions are Matthew Hulsizer's PEAK6 Capital Management, Campbell Wilson'sOld Well Partners, and Daryl Smith's Kayak Investment Partners.\nLet's now review hedge fund activity in other stocks - not necessarily in the same industry as New Oriental Education & Technology Group Inc. (NYSE:EDU) but similarly valued. These stocks are Kansas City Southern (NYSE:KSU), Nucor Corporation (NYSE:NUE), Franco-Nevada Corporation (NYSE:FNV), Fortive Corporation (NYSE:FTV), The Hartford Financial Services Group Inc (NYSE:HIG), Itau Unibanco Holding SA (NYSE:ITUB), and Trip.com Group Limited (NASDAQ:TCOM). All of these stocks' market caps are closest to EDU's market cap.\nAs you can see these stocks had an average of 32.1 hedge funds with bullish positions and the average amount invested in these stocks was $1239 million. That figure was $2188 million in EDU's case. The Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Itau Unibanco Holding SA (NYSE:ITUB) is the least popular one with only 12 bullish hedge fund positions. New Oriental Education & Technology Group Inc. (NYSE:EDU) is not the most popular stock in this group but hedge fund interest is still above average. Our overall hedge fund sentiment score for EDU is 70.7. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Our calculations showed thattop 5 most popular stocksamong hedge funds returned 95.8% in 2019 and 2020, and outperformed the S&P 500 ETF (SPY) by 40 percentage points. These stocks gained 17.4% in 2021 through June 18th and beat the market again by 6.1 percentage points. Unfortunately EDU wasn't nearly as popular as these 5 stocks and hedge funds that were betting on EDU were disappointed as the stock returned -45.8% since the end of March (through 6/18) and underperformed the market.\nTAL Education: Not Ready To Handle A New Wave Of Market Rivalry\nSummary\n\nFY2Q2021 revenue and XRS online growth fell below consensus expectations.\nIn 2020, the online K12 education market size in China reached CNY 89 billion, with a year-on-year increase of 37.6%.\nUnlike its nemesis New Oriental, TAL's investment amount into other firms has been continuously decreasing since 2016.\nWith COVID-19 reshaping the market, tech giants have started to make big moves into the digital education industry.\nWe do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth.\n\nTAL Education Group (also known as Tomorrow Advanced Learning) (TAL) is an education company that focuses on K12 students in China. It also has business segments in adult education, early education & parenting and education informatization. The firm takes quality education and extracurricular tutoring as the carrier system to serve on a global scale. Founded in 2003, it went public on NYSE in 2010.\nIn China, TAL competes with New Oriental (EDU), a company founded back in 1993. It can be said that both firms are leading China's education industry; for one, the market coverage of the two is evenly matched. From the latest information, New Oriental has active businesses in a total of 98 cities in China and one foreign city (Toronto). TAL has laid its business in a total of 90 cities across China.\nAs parents in the fast-growing country pay more and more attention to their children's basic education and e-learning is increasingly popular, the vast field of primary and secondary education and online education has eventually become a battleground for companies.\nDecent financial results\nTAL's 2Q 2021financial resultsweren't very impressive, as the firm earned USD 1.10 billion (up 20.8% year-on-year) compared to analysts' expectations of USD 1.12 billion for the quarter. However, it reported USD 0.08 earnings per share for the quarter, beating analysts' consensus estimates of USD 0.05 by USD 0.03. TAL Education Group had a return on equity of 0.21% and a net margin of 1.35% compared to 8.97% in 1Q 2021 due to strong competition presented in the primary education segment. It includes local pure online education companies such asYuanfudaoandZuoyebangthat recently completed mega-rounds of investment. Meanwhile, the non-GAAP operating margins were down to -1.1% compared to 9.8% in 2Q 2020 as customer acquisition costs rose backed by the fierce competition.\nNew market opportunities\nIn the past five to six years, with the support of the state, the development of technology, and the inflow of capital, China's online K12 education industry has undergone rapid development. In 2020, the overall online K12 education market size in China reached approximately CNY 89 billion, with a year-over-year increase of 37.6%.\nIn 2019, the penetration rate of K12 online education in China was about 15%. As COVID-19 struck during the beginning of 2020, the advantages of online education have been very apparent. The penetration rate of online K12 education reached its peak in March 2020. Although the industry is still in the stage of consumption popularization in China, there are obvious trends. This field consistently demonstrates a long-term massive demand as an emerging way of obtaining education information and services. Hence, the industry penetration rate has huge room for improvement in the future. According to thepredictionof the Chinese Academy of Sciences, the penetration rate of the K12 online education industry may exceed 55% by 2022.\n\nThe fact that TAL owns 871 learning centers (offline tutoring centers), 648 Peiyou (好未来培优) centers and 128 one-on-one centers is the reason why we believe TAL is not pandemic-proof. Possible closure of these centers by the government in order to control the spread of COVID-19 will lead to huge declines in the firm's financials.\nTAL does own online education apps – but they can't compete with the likes of VIPKID, Yuanfudao, and Zuoyebang, even though there has been an increase in revenue contribution of Xueersi TAL’s online app from 17% in FY2Q2020 to 26% in FY2Q2021.\nThe re-emergence of COVID-19 in China is a headwind for TAL's offline classroom-based training business. Although the vaccine has emerged, children below the age of 18 are not allowed to administer it. TAL's stock price might soon fall when most investors realize that the company still focused on formal or classroom-based tutorials and training.\nTAL has had stable growth since getting listed about nine years ago. Revenue has increased about 30 times, at a compound annual rate of 45.7% since then and gross margins averaged as high as 50.8%.\nResults from the last fiscal year ending February were materially affected by COVID-19 induced restrictions which had started early in China. Offline operations, primarily core Peiyou small classes, had to be quickly transferred to online platforms. As a result, some revenue was lost due to the lower selling prices for online classes, the total revenue in Q4 grew just 6.2% compared to 44.1% the previous year. Student enrollments were still up on aggregate with a rate of, 56.6% year-over-year.\nLess venture investment presence\nSince 2017, the number of investments by TAL has been decreasing. New Oriental has been more aggressive compared to TAL since 2018. TAL's financing has dropped sharply from 24 in 2016 to only two in 2020. The two investments were made on an interactive learning SaaS platform UMU and an online children's math tutoring app.\n\nThe entrance of tech giants\nSales and marketing expenses surged as the competition got tough for online players in the summer. Sales and marketing expenses surged 64% year-on-year and made up 22% of the total revenue, up 4.9% year-on-year.\nWith upstarts raising mega-rounds, things might get even tougher for TAL as more companies with huge capital to spend on marketing will try to grab market share. Other than that, Chinese giants such as Alibaba(NYSE:BABA), NetEase(NASDAQ:NTES), Tencent(OTCPK:TCEHY), ByteDance and Baidu(NASDAQ:BIDU)engage their businesses into online education. TAL needs to upgrade its online education business to stay afloat.\nThe education field is likely to be divided up by companies outside of this industry. It is also worth mentioning that the firm's key competitiveness is its in-depth application of technologies such as big data and live broadcast intelligence in China's online education industry. The firm has not spent much on research and development in terms of proprietary tuition-based technology. There are few existing barriers to entry. Teaching staff and market share could be theoretically purchased by new entrants.\nAllegation probe\nIn April 2020,TAL became one of the scandalous US-listed Chinese firmsafter admitting to inflate sales figures driven by employee wrongdoing, further hindering market confidence after Luckin Coffee's(OTCPK:LKNCY)USD 310 million fraud.\nTwo years before this event, Muddy Waters released areportnaming the company 'A Real Business With Fake Financials.' The report claimed that \"TAL commits fraud in the financials for its core Peiyou business. The Peiyou fraud is more difficult to quantify, but our research suggests fraudulent overstatement of approximately 25% to 30% of the company’s revenue.\"\nBottom line\nThis might not be a suitable time to invest in TAL Education. We give a neutral rating to the stock because we do not see the company handling the upcoming tough competition within the industry but are rather optimistic about its business capabilities and steady growth. Therefore, TAL does have a chance to enhance its online business and compete with newcomers and experienced enterprises, including the likes of Zuoyebang, Yuanfudao, Baidu and NetEase.\nGaotu Group: Policy Overhang Keeps The Risk-Reward Balanced\nSummary\n\nThe longer-term outlook remains bright for Gaotu Group (formerly GSX TechEdu).\nAdverse regulatory changes remain the key risk for the near-term outlook, but a healthier longer-term dynamic should benefit profitability.\nGrowth drivers such as alternative student acquisition channels and increased contribution from adult education should help as well.\nDespite the discounted EV/Sales multiple, I would hold off on initiating a position for now pending clearance of the policy overhang.\n\nNewly rebranded Gaotu Group’s (GOTU/GSX) recently heldinvestor eventfeatured an interesting tour of its operation and top management strategy presentations, which offered timely insight into the longer-term outlook. In particular, GSX emphasized its continued focus on teaching excellence, service quality, and technology investments as key differentiators. However, policy risks remains the biggest concern, and if government intervention in the online after-school tutoring space turns out to be stricter than expected, I see material downside risks to GSX’s near-term growth trajectory. On the flip side, it could also result in a healthier industry dynamic, which should drive narrowing losses as well. While the policy reform overhang makes it difficult to turn bullish, GSX’s discounted c. 3x EV/Sales multiple also looks undemanding, keeping the risk/reward fairly balanced.\nGrowing Importance of Alternative Student Acquisition Channels\nWorryingly, GSX has seen reduced traffic acquisition in FQ4 ‘20 and FQ1 ‘21, with a whopping c. 20% lower sales lead cost in Jan-Feb 2021 (down from the Nov-Dec 2020 period). The recent decline is likely attributable to regulatory uncertainties around online traffic acquisition triggered by a recent Ministry of Education (MOE)interviewearlier this year. The significantly pressured new enrolment growth in FQ1 ‘21 may have been one of the reasons for the lower-than-expected top-line guidance as well. In response, management is exploring new student acquisition channels to offset the pressure – this includes the offline, short video, and live streaming e-commerce channels, among others. The good news is that successful expansion here could see the student acquisition cost lowered by over 50%, which is positive for the margin outlook (GSX is currently loss-making at the operating level).\n\nSource:GSX Investor Presentation Slides\nHowever, GSX is not alone in this regard – other online AST players have initiated similar moves, from online one-on-one and small-class players such as 51talk (COE), VIPKID, and New Oriental subsidiary Koolearn, whose large-class coverage has reached c.100 cities. Similarly, online large-class after-school tutoring players have also started expanding into offline acquisition through partnerships, with TAL Education (TAL) subsidiaryXueersi.comalsotying upwith Lenovo (OTCPK:LNVGY) in recent months. And with private players like Zuoyebang alsobuildingoffline traffic acquisition teams, the competitive pressures could drive downside to the near-term outlook.\nAdult Education Set to be Another Top-Line Growth Driver\nWithin the Chinese education market, adult education is also emerging as a potential growth opportunity as people are increasingly looking to upskill in an uncertain job market. Alongside income level rises, people are also spending more on education to better prepare themselves for career development. As a result, gross billings have grown at a CAGR of 24.5% and are expected to grow further at 22.4% CAGR into fiscal 2023, reaching RMB265 billion.\n\nSource:GSX Listing Prospectus Filing\nNotably, while GSX currently expects fiscal 2021 revenue growth to be in the range of 70-80% Y/Y, the adult education business is guided to be a key growth driver at +100% Y/Y revenue growth. Considering that adult education accounted for over 10% of GSX’s revenue in fiscal 2020, I expect the contribution to continue rising over time. Key areas of growth here include English training, graduate school admission exam prep, and finance-related courses. Longer-term, I think the adult education business could even see higher gross margins than K-12 after-school tutoring due to the higher enrolment/tutor ratio.\nOnline Regulations Remain the Key Concern\nLooking ahead, potential online regulations in the after-school tutoring space are concerning, with likely measures including a fake advertising ban, increased control over marketing spend in education, and more stringent quality requirements for institutions and instructors. On the flip side, these measures will also be beneficial to the overall industry development longer-term, allowing online after-school tutoring players to reinvest more dollars into improving the product and teaching quality. While clarity around the new regulations for both the offline/online markets remains lacking, I see a more positive outcome than the prior industry experience in 2018.\nAny restrictions on marketing limitation will likely have a negative impact on enrolment and sales growth in the near term but will also benefit margins due to the lower marketing spending. In turn, this should improve the longer-term economics of the business and drive narrowing losses in the upcoming quarter. Another key positive from the slower growth is that GSX will be able to focus on improving its product/service quality and extract more student lifetime value while also preserving its robust balance sheet. As of end-2020, GSX had a c. RMB8.2 billion cash position (including liquid investments), which should allow it to weather any unforeseen negative policy impacts.\n\nSource: GSX Investor Presentation Slides\nFinal Take\nOverall, regulations on marketing will likely have a negative impact on enrolment and top-line growth but should also lead to a healthier operating dynamic and narrowing losses ahead. With GSX also focused on alternative acquisition channels and tapping into markets such as adult education, I think the company could surprise positively in the upcoming quarters. While the GSX share price has suffered due to the Archegos Capital event and policy concerns, its forward EV/Sales multiple has declined significantly to c. 3x, and the widening relative discount to peers like TAL and EDU likely means the negatives have been priced in. Until the policy overhang has been lifted, however, I see the risk/reward as balanced at current levels.\nData by YCharts","news_type":1},"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129682301,"gmtCreate":1624371023403,"gmtModify":1634007120800,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129682301","repostId":"1164714575","repostType":4,"repost":{"id":"1164714575","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":1624369315,"share":"https://www.laohu8.com/m/news/1164714575?lang=&edition=full","pubTime":"2021-06-22 21:41","market":"us","language":"en","title":"Plug Power moves higher following mixed Q1 results","url":"https://stock-news.laohu8.com/highlight/detail?id=1164714575","media":"Tiger Newspress","summary":"(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-th","content":"<p>(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-than-expected quarterly revenue. Still, shares edged higher in morning trading Tuesday.</p>\n<p><img src=\"https://static.tigerbbs.com/18c95193b7e71aa70fb34e84ee562115\" tg-width=\"658\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Plug Power Missed Earnings Estimates. Why Its Stock Is Gaining?</b></p>\n<p>Hydrogen fuel cell technology provider Plug Power reported somewhat disappointing first-quarter earnings on Tuesday. Its stock is rising anyway in premarket trading.</p>\n<p>The report signals things are calming down at the company, after results were delayed by accounting issues.</p>\n<p>Plug (ticker: PLUG) reported a loss of 12 cents per share from $72 million in sales. Wall Street was looking for an 8 cent loss from $69 million in sales. It’s an earning miss, but earnings for a smaller company with big growth plans isn’t as important as sales. Plug’s 2021 sales are expected to be $465 million, growing to more than $1 billion by 2023.</p>\n<p>Plug also ended the quarter with more than $4.3 billion in cash on the balance sheet.</p>\n<p>Plug stock rose 0.5% in premarket trading. S&P 500 futures are flat.</p>\n<p>It took a while for the company to report its first quarter. In 2020, Plug reported first-quarter results on May 7. This year, however, accounting issues—disclosed in March—got in the way. The company ended up restating some older results after changing the accounting for customer contracts. Cash wasn’t affected by the restatements.</p>\n<p>The accounting-related delay is another reasons the stock isn’t doing much after the release of actual earnings. Amid all the restatements and updates, investors had a good sense of what was coming for the first quarter. Several times in May, Plug management had said sales would be greater than $67 million.</p>\n<p>Plug management hosts a conference call for analysts and investors at 8:30 a.m. ET. Investors will be eager to hear about second-quarter sales, which are expected to be more than $100 million.</p>\n<p>Year to date, Plug stock is down about 12%, trailing behind comparable gains of the S&P 500 and Dow Jones Industrial Average. Many renewable energy stocks have struggled in 2021 after amazing 2020 gains. Stock in electric-vehicle maker Tesla (TSLA), for instance, is down about 12% year to date after rising 743% in 2020. Plug stock rose 973% in 2020.</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>Plug Power moves higher following mixed Q1 results</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\">\nPlug Power moves higher following mixed Q1 results\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 21:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-than-expected quarterly revenue. Still, shares edged higher in morning trading Tuesday.</p>\n<p><img src=\"https://static.tigerbbs.com/18c95193b7e71aa70fb34e84ee562115\" tg-width=\"658\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Plug Power Missed Earnings Estimates. Why Its Stock Is Gaining?</b></p>\n<p>Hydrogen fuel cell technology provider Plug Power reported somewhat disappointing first-quarter earnings on Tuesday. Its stock is rising anyway in premarket trading.</p>\n<p>The report signals things are calming down at the company, after results were delayed by accounting issues.</p>\n<p>Plug (ticker: PLUG) reported a loss of 12 cents per share from $72 million in sales. Wall Street was looking for an 8 cent loss from $69 million in sales. It’s an earning miss, but earnings for a smaller company with big growth plans isn’t as important as sales. Plug’s 2021 sales are expected to be $465 million, growing to more than $1 billion by 2023.</p>\n<p>Plug also ended the quarter with more than $4.3 billion in cash on the balance sheet.</p>\n<p>Plug stock rose 0.5% in premarket trading. S&P 500 futures are flat.</p>\n<p>It took a while for the company to report its first quarter. In 2020, Plug reported first-quarter results on May 7. This year, however, accounting issues—disclosed in March—got in the way. The company ended up restating some older results after changing the accounting for customer contracts. Cash wasn’t affected by the restatements.</p>\n<p>The accounting-related delay is another reasons the stock isn’t doing much after the release of actual earnings. Amid all the restatements and updates, investors had a good sense of what was coming for the first quarter. Several times in May, Plug management had said sales would be greater than $67 million.</p>\n<p>Plug management hosts a conference call for analysts and investors at 8:30 a.m. ET. Investors will be eager to hear about second-quarter sales, which are expected to be more than $100 million.</p>\n<p>Year to date, Plug stock is down about 12%, trailing behind comparable gains of the S&P 500 and Dow Jones Industrial Average. Many renewable energy stocks have struggled in 2021 after amazing 2020 gains. Stock in electric-vehicle maker Tesla (TSLA), for instance, is down about 12% year to date after rising 743% in 2020. Plug stock rose 973% in 2020.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164714575","content_text":"(June 22) Plug Power had a mixed earnings report, missing on its bottom line but reporting better-than-expected quarterly revenue. Still, shares edged higher in morning trading Tuesday.\n\nPlug Power Missed Earnings Estimates. Why Its Stock Is Gaining?\nHydrogen fuel cell technology provider Plug Power reported somewhat disappointing first-quarter earnings on Tuesday. Its stock is rising anyway in premarket trading.\nThe report signals things are calming down at the company, after results were delayed by accounting issues.\nPlug (ticker: PLUG) reported a loss of 12 cents per share from $72 million in sales. Wall Street was looking for an 8 cent loss from $69 million in sales. It’s an earning miss, but earnings for a smaller company with big growth plans isn’t as important as sales. Plug’s 2021 sales are expected to be $465 million, growing to more than $1 billion by 2023.\nPlug also ended the quarter with more than $4.3 billion in cash on the balance sheet.\nPlug stock rose 0.5% in premarket trading. S&P 500 futures are flat.\nIt took a while for the company to report its first quarter. In 2020, Plug reported first-quarter results on May 7. This year, however, accounting issues—disclosed in March—got in the way. The company ended up restating some older results after changing the accounting for customer contracts. Cash wasn’t affected by the restatements.\nThe accounting-related delay is another reasons the stock isn’t doing much after the release of actual earnings. Amid all the restatements and updates, investors had a good sense of what was coming for the first quarter. Several times in May, Plug management had said sales would be greater than $67 million.\nPlug management hosts a conference call for analysts and investors at 8:30 a.m. ET. Investors will be eager to hear about second-quarter sales, which are expected to be more than $100 million.\nYear to date, Plug stock is down about 12%, trailing behind comparable gains of the S&P 500 and Dow Jones Industrial Average. Many renewable energy stocks have struggled in 2021 after amazing 2020 gains. Stock in electric-vehicle maker Tesla (TSLA), for instance, is down about 12% year to date after rising 743% in 2020. Plug stock rose 973% in 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":469,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129686664,"gmtCreate":1624371006558,"gmtModify":1634007121248,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129686664","repostId":"1163697674","repostType":4,"repost":{"id":"1163697674","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":1624370501,"share":"https://www.laohu8.com/m/news/1163697674?lang=&edition=full","pubTime":"2021-06-22 22:01","market":"us","language":"en","title":"Clover Health rally Tuesday, rose over 17% in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1163697674","media":"Tiger Newspress","summary":"(June 22) Clover Health rally Tuesday, rose over 17% in morning trading.","content":"<p>(June 22) Clover Health rally Tuesday, rose over 17% in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/c8220041ca1b41ddcd04ef608958edf3\" tg-width=\"658\" tg-height=\"477\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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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>ContextLogic stock fell in morning 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; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nContextLogic stock fell in morning trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-22 22:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 22) ContextLogic stock fell in morning trading.</p>\n<p><img src=\"https://static.tigerbbs.com/3f4961b3f42c7db05dcef1237b9eb084\" tg-width=\"658\" tg-height=\"477\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132497836","content_text":"(June 22) ContextLogic stock fell in morning trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129688581,"gmtCreate":1624370976543,"gmtModify":1634007121837,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129688581","repostId":"1177499959","repostType":4,"isVote":1,"tweetType":1,"viewCount":467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129689652,"gmtCreate":1624370917076,"gmtModify":1634007124275,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice ","listText":"Nice ","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/129689652","repostId":"2145056554","repostType":4,"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167923238,"gmtCreate":1624243282124,"gmtModify":1634008989512,"author":{"id":"3575176235940249","authorId":"3575176235940249","name":"Fatchoco","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575176235940249","authorIdStr":"3575176235940249"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167923238","repostId":"1121306615","repostType":4,"repost":{"id":"1121306615","kind":"news","pubTimestamp":1624237956,"share":"https://www.laohu8.com/m/news/1121306615?lang=&edition=full","pubTime":"2021-06-21 09:12","market":"us","language":"en","title":"Coinbase-backed crypto trading firm hits $1 billion valuation after fresh funding","url":"https://stock-news.laohu8.com/highlight/detail?id=1121306615","media":"cnbc","summary":"Amber Group, a cryptocurrency financial services firm, has raised $100 million as investors rush to ","content":"<div>\n<p>Amber Group, a cryptocurrency financial services firm, has raised $100 million as investors rush to back companies in the industry.\nThe fresh funding round values the Hong Kong-based start-up at $1 ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/21/coinbase-backed-amber-group-cryptocurrency-trading-firm-hits-1-billion-valuation.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Coinbase-backed crypto trading firm hits $1 billion valuation after fresh funding</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\">\nCoinbase-backed crypto trading firm hits $1 billion valuation after fresh funding\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 09:12 GMT+8 <a href=https://www.cnbc.com/2021/06/21/coinbase-backed-amber-group-cryptocurrency-trading-firm-hits-1-billion-valuation.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amber Group, a cryptocurrency financial services firm, has raised $100 million as investors rush to back companies in the industry.\nThe fresh funding round values the Hong Kong-based start-up at $1 ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/21/coinbase-backed-amber-group-cryptocurrency-trading-firm-hits-1-billion-valuation.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.cnbc.com/2021/06/21/coinbase-backed-amber-group-cryptocurrency-trading-firm-hits-1-billion-valuation.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1121306615","content_text":"Amber Group, a cryptocurrency financial services firm, has raised $100 million as investors rush to back companies in the industry.\nThe fresh funding round values the Hong Kong-based start-up at $1 billion.\nInvestment bank China Renaissance led the round with participation from other high-profile investors including New York-based Tiger Global Management. Existing investors, which includes Coinbase's venture arm, were involved.\nThe latest funding round continues a flurry of funding activity in the cryptocurrency industry.\nIn the second quarter of 2021, venture capital investment into cryptocurrency and blockchain start-ups totaled $14 billion, according to data from PitchBook provided to CNBC. That compares to just $600 million in the same period last year.\nInterest in cryptocurrencies, particularly in bitcoin, rose this year asinstitutional investorsand large corporations jumped in. Payments processorSquareand electric vehicle makerTeslaare among the companies that havepurchased bitcoin.\nBut after touching a record high of $64,829.14 in April, bitcoin has plunged by nearly half.\nBusiness model\nAmber Group has typically sold products to institutional investors and wealthy individuals including algorithmic trading and lending products.\nRather than being a cryptocurrency exchange that allows users to trade individual digital coins, Amber Group CEO Michael Wu said the company is bringing a \"private banking experience to every day customer.\"\nWu says the company offers investors a number of different cryptocurrency products to invest in.\nAmber Group said it is on track to book revenue of $500 million by the end of this year and has been profitable \"since inception.\"\nAccording to Wu, between 70% and 80% of the company's revenue comes from so-called net interest margin — a measure of lending profitability. Amber Group takes on customers' deposits and offers them an interest rate. They then lend out the money from a pool of deposits to other entities at higher interest rates and make money from that spread.\nAbout 15% of revenue comes from trading fees.\nWhile the majority of the company's customers are institutional investors, Wu said Amber Group is making a push to gain individual investor customers.\n\"We don't advocate heavy speculation or high use of leverage, rather we want our customers to be more long term, focus on risk management and get stable and attractive yield,\" Wu said.\nStrategic acquisitions\nThe CEO said the fresh capital raised will be used to \"hire even more aggressively\" and to make strategic acquisitions in areas such as cybersecurity.\nBut Wu said the company is also looking to acquire others that have regulatory licenses in certain jurisdictions, which could allow Amber Group to enter a new market.\nRegulation around cryptocurrency investing differs around the world and is quite fragmented.\n\"I think regulation is always a challenge for this industry because it's a very global industry,\" Wu said. \"It's always about staying ahead, or at least staying aware of the different regulation. We always take a very conservative approach to that.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":356,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"followers","isTTM":false}