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    $Altimeter Growth Corp(AGC.US)$$Grab Holdings(GRAB.US)$ Fistly, given its current performance, I expect the Grab to fall below $10 once the the merger happens. Of cuz there'll be a short spike due to announcements but will eventually break the $10 floor. Not because it's a bad business, but because of its valuation. Eg, It is valued 10x more than uber based on Price to sales ratio. Hence, I stay away from it for now.
    Secondly, I still like the business, much like coupang (CPNG). I like the businesses and use their services extensively, but I can't invest with these valuations. In coupang's case, it was around $50 when I covered it, we expected it to drop below $30 to $20-25 due to its valuation, not the business. No one expected it to happen as it was a good business, but it did.
    So I'll be patient and wait before buying into these companies.
    Early on we suggested to invest in Grab because of the reported earnings. However, it turns out majority of the earnings are contributed from incentives received. That changed the entire investment value proposition on Grab.
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    HOOD sinks 8% to a record low on heavy volume as investing app IPO lockup expire

    $Robinhood(HOOD.US)$ sank some 8% Wednesday to its lowest level since going public four months ago, falling on heavy volume as the popular investing app’s IPO lockup fully expired.
    HOOD dropped as much as 7.9% to a $23.89 intraday record low before recovering slightly to close at $23.93, shedding 7.8% on the session to reach its worst finish to date.
    The stock fell on heavy volume of 32.9M shares − more than 3x HOOD’s 9.7M daily average.
    Shares were apparently tanking due to the final and most significant in a series of lockup expirations that followed the company’s IPO. Some 569.7M shares bought at IPO by insiders and key investors like $Salesforce(CRM.US)$ became eligible for sale for the first time Wednesday.
    HOOD has been falling for the past four sessions, apparently in anticipation of the lockup’s expiration. All told, the stock has lost some 19.6% since last Wednesday’s close at $27.78.
    Robinhood operates a popular investing app that has introduced many Millennials and other new investors to the stock market. The company staged what had been an eagerly anticipated initial public offering in July.
    However, the IPO priced at the bottom of its expected $38-$42/share range, and then HOOD tanked instead of rising in its first post-IPO session. So far, the stock has fallen 37% from HOOD’s IPO price.
    Shares sank Wednesday despite word that Robinhood had introduced a new feature making it easy for customers to transfer assets from other brokerages into their HOOD accounts.
    The stock also failed to get a boost from news that Cathie Wood's $ARK Innovation ETF(ARKK.US)$ had snapped up some 837,000 HOOD shares on Tuesday.
    HOOD sinks 8% to a record low on heavy volume as investing app IPO lockup expire
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    $General Motors(GM.US)$ The best laid plans of mice and men usually only succeed with government subsidies. GM’s fortunes are directly tied to a liberal government. If Democrats lose the House next election all near term bets are off. Add two to four years to estimates.
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    $Lucid Group(LCID.US)$ Apple should buy Lucid, with it, software expertise will arrive. They both will be a great competition to TSLA
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    $Ford Motor(F.US)$ I am hoping Ford will have a Maverick Hybrid Plug-in with a larger battery - that's the one I would want to buy. Not really interested in a pure EV car - I do too much cross country driving for that.
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    Alibaba loses Conviction Buy status at Goldman on sales growth, profit concerns

    $Goldman Sachs(GS.US)$ is lowering $Alibaba(BABA.US)$ stock to Buy from Conviction Buy as the company boosts spending.
    Analyst Piyush Mubayi is cutting the price target to $215 per share from $252.
    The stock is slightly lower in premarket trading.
    "At the time when retail spending slows down and competitive intensity levels up, BABA has been increasing investments to 1) acquire new users, 2) build multiple traffic sources, and 3) raise merchant subsidies in the shorter term," Mubayi writes in a note.
    "We expect revenue growth (ex. SunArt) to decelerate to 13%/16% in 3QFY22E/4QFY22E, with CMR revenue growth in 2HFY22E 3.3% yoy vs. 3.4% in 2QFY22. The lower CMR monetization rate and stepped-up strategic investments will drag profitability over the next 2 quarters before growth recovers in FY23E, when both revenue/earnings grow >20%."
    But Goldman still expects the company to continue "aggressive buybacks."
    Last week Warburg cut its valuation of Ant Group.
    Alibaba loses Conviction Buy status at Goldman on sales growth, profit concerns
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    Tencent must get regulatory green light before releasing new apps and updates

    China continues to tighten the rules on its domestic tech sector, saying $Tencent(TCEHY.US)$$TENCENT(00700.HK)$ must get approval from regulators to send out updates for its apps. The process could take up to seven days, according to state broadcaster CCTV.
    The new ruling comes after China's Ministry of Industry and Information Technology found that several of Tencent's apps violated data protection rules, resulting in China's most valuable technology company having to submit new apps before they can be launched.
    "We are continuously working to enhance user protection features within our apps, and also have regular cooperation with relevant government agencies to ensure regulatory compliance," Tencent said in a statement. "Our apps remain functional and available for download." Alibaba, Baidu other companies fined by Chinese antitrust regulator.
    Meanwhile, some state-run companies, like $China Mobile(CHL.US)$ and $CHINA CONSTRUCTION BANK(CICHF.US)$, are restricting employees' use of Weixin, Tencent's popular domestic messaging app. Security concerns were flagged by the firms, which said any chat groups set up for work purposes could contain sensitive information and should be closed down and deleted.
    Tencent must get regulatory green light before releasing new apps and updates
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    Market seems to like this. I find it interesting and nice to see $General Motors(GM.US)$ get out in front of others. This will not be easy electricity and batteries with water.
    Fuel at docks very expensive so I do see potential. Cannot wait to see the size of the plug ins at the docks for Carnival Cruise Ships.
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    $Netflix(NFLX.US)$ Really it takes an old straight married woman to mention Gal Gadot…plus I like the Rock and Ryan Reynolds as far as sheer entertainment value. It feels like a theatre movie and you can pause for popcorn and bathroom breaks…I guess we all have our own rating system:)
    Squid Games just finished and it was hard to watch the brutality of it for me but was unique plot, set, film style and held our attention although had to look away at some of those scenes.
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    Afterpay to start Buy Now, Pay later subscription service; Affirm shares drop

    $Affirm Holdings(AFRM.US)$ shares slip 1.9% in premarket trading after rival $AFTERPAY LTD SPONS ADS ECH REP 1 ORD SHS(AFTPY.US)$ introduces a Buy Now, Pay Later subscription service in the U.S.
    Afterpay stock gains 0.9%.
    Merchants, including Fabletics, IPSY, BoxyCharm, and Savage X Fenty, will be among the first to offer consumers the option to pay for recurring purchases in installments starting early next year.
    The new service allows qualified merchant partners to potentially offer Afterpay for everyday payment needs including gym memberships, entertainment subscriptions, online services and more.
    The subscriptions will be available to consumers across online platforms in the U.S. and Australia by early 2022, with plans to extend the feature in-store and to other regions including Canada, New Zealand, the U.K., and Europe.
    $PayPal(PYPL.US)$, which also has a BNPL service, drops 0.7% in premarket trading.
    In August, $Block(SQ.US)$ agreed to buy Afterpay for ~$29B in stock.
    Afterpay to start Buy Now, Pay later subscription service; Affirm shares drop
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