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盘后交易 | 瑞银看高特斯拉至730美元,汽车提供商XL遭浑水做空

After-market trading | UBS sees Tesla as high as $730, car provider XL is shorted by muddy waters

富途資訊 ·  Mar 4, 2021 08:10  · Movers

Editor/Futu Information Roy

Strange dog knocks on the blackboard:

Popular Chinese securities firms generally weakened after the market, and Yixian e-commerce fell more than 2%

XL Fleet was shorted by muddy waters and plummeted 13% yesterday

Tesla closed down more than 4% yesterday, and UBS raised its target price to $730

Snowflake's net loss for the fourth quarter increased 139% year-on-year, and once fell more than 7% after the market

US stocks repeated on Wednesday. US bond yields rose strongly again, market inflation pressure increased. Coupled with poor economic data, US stocks continued to bear downward pressure, and the three major stock indexes fell sharply intraday. The decline of the NASDAQ extended to more than 2% at the end of the session, while the Dow stabilized in the middle and declined at the end of the session.

As of press release, the three major stock index futures have weakened, with Dow futures falling 0.3%, NASDAQ futures falling 0.63%, and S&P 500 futures falling 0.46%.

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China Securities

  • Popular Chinese securities firms generally weakened after the market, and Yixian e-commerce fell more than 2%

As of press release, Yixian E-Commerce, Ehang Smart, and Baidu fell more than 2% after the market, while NIO, Ideal, and Xiaopeng fell more than 1% after the market, and Bilibili also weakened.

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Xiaopeng Motor announced yesterday the launch of the Xiaopeng P7 rear-drive standard battery life model. There are two models, the Smart Enjoy Edition and the Zhizun Edition. They both use lithium iron phosphate batteries, and the comprehensive range reaches 480 km. Sales will begin today, and delivery is expected in May 2021. Morgan Stanley gave Xiaopeng an increase in holdings rating, with a target price of 70 US dollars.

Bilibili rose more than 3%. Yesterday evening, Bilibili issued an announcement stating that it will jointly establish an entity in Shanghai with an independent third party and two entities controlled by CEO Chen Rui and COO Li Ni to obtain the right to use a plot of land in Shanghai. The total investment to acquire land use rights was approximately 8.1 billion yuan.

Active US stocks after the market

  • XL Fleet was shorted by muddy waters and plummeted 13% yesterday

Muddy Water, a well-known short selling agency, said it is shorting electric vehicle technology provider XL Fleet. Muddy Waters said, “We don't think XL Fleet will have any good results. The company's technology is weak and there are almost no patents.”

Muddy Waters notes that XL Fleet's former sales staff said they were pressured to drastically exaggerate their sales results in order to mislead XL Fleet's board of directors and investors. In fact, the customer repurchase rate is quite low. Muddy Water said it also learned that about half of the clients advertised by XL in investor presentations were inactive.

Muddy Waters notes that the company doesn't seem to have any valuable patented technology. “In fact, some former employees laughed when we asked if XL Fleet would be able to compete in the electric vehicle sector.”

After the news of Muddy Waters shorting XL Fleet was released, the company's stock price plummeted in the short term. By the close, it fell more than 13% to 13.86 US dollars, and then fell 1% after the session.

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  • Tesla closed down more than 4% yesterday, and UBS raised its target price to $730

On Wednesday, UBS analyst Patrick Hummel raised Tesla's price target from $325 to $730 while maintaining a “neutral” rating. As technology becomes a battleground for electric vehicles, Tesla has the potential to become one of the most valuable software companies.

The analyst was previously a long-time Tesla skeptic. Since March 2020, he has been neutral about Tesla. Until then, he had always “sold” or not rated Tesla.

Analysts note that Tesla remains the undisputed technology leader, especially when it comes to software. He pointed out that software will not only be the main focus of the electric vehicle sector, but will also be the main valuation driver.

He said that in his basic case study, to become one of the largest and most profitable original equipment manufacturers (OEMs) by 2030, for Tesla, its market capitalization should be around 200 billion US dollars.

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  • Snowflake's net loss for the fourth quarter increased 139% year-on-year, and once fell more than 7% after the market

American cloud data warehouse company Snowflake released the company's financial results for the fourth quarter of fiscal year 2021 after the market. Financial reports show that

  • Total revenue was US$190.5 million, up 117% year on year; of this, product revenue was US$178 million, up 116% year on year, accounting for 94% of total revenue; professional services and other revenue was US$12.177 million, accounting for 6% of total revenue;

  • The net loss was 198.9 million US dollars, an increase of 138.95% compared with the net loss of 83.3 million US dollars in the same period last year; the operating loss was 200 million US dollars, an increase of 135.45% over the previous year;

  • A loss of 70 cents per share, compared to $1.67 in the same period last year;

  • Gross profit was US$108 million, an increase of 102.30% over the previous year.

After the market, Snowflake once plummeted by more than 7%, but then the stock price increased by more than 5%. As of press release, it fell 0.05%.

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The translation is provided by third-party software.


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