Beijing time, April 8 news, Tuesday U.S. stocks opened low, slightly closed lower. By the close, the Dow was down 26.13 points, or 0.12 per cent, at 22,653.86, the S.P. 500 was down 4.27 points, or 0.16 per cent, at 2,659.41 and the Nasdaq was down 25.98 points, or 0.33 per cent, at 7,887.26.
Most of the major U.S. tech giants fell, with Facebook up 1.98 percent, Amazon up 0.7 percent, Apple down 1.16 percent, NetFlix down 2.02 percent, Alphabet down 0.03 percent and Microsoft down 1.08 percent.
China’s major technology stocks rose mostly, with NetEase down 3.15 percent, Aichi Duo up 3.22 percent, Ping Duo up 5.56 percent, Weibo up 8.15 percent, Tencent Music up 1.32 percent, Alibaba up 0.79 percent, JD.com up 1.03 percent, Baidu down 1.12 percent and E.J. 4.42 percent.
Share price of China General Stock
Most of the other Chinese stocks rose, including MicroLoans (up 13.85%), Renren (up 10.14%), Worry Free English (up 9.4%), NIO (up 9.31%), Zhengbao Education (up 8.62%), Stranger Things (up) 8.3%), 500 Lottery Network (up 8.21%), Fun Shop (up 7.06%), LeXin (up 6.1%), SMIC (up 5.4%), Temple Bank (up 5.26%), 1 Pharmaceutical Network (up 5.26%), Sohu (up 4.66%), 360 Financial (up 4.59%), UT Starcom (up 4.3%), Ctrip (up 4.18%), New Oriental (up 3.88%), Good Future (up 3.83%), Lanting Set (up 3.3%) 83%), Beep Mile (up 3.64%), Letter technology (up 3.64%), SouFun (up 3.54%), EasyCar (up 3.24%), Vicente (up 3.17%), Janpu Technology (up 2.5%), Yunmi (up 2.47%), Dane Technologies (up 2.37%), Future Worry (up 1.88%), Phoenix New Media (up 1.67%), Thunderbolt (up 1.59%), Cheetah Mobile (up 1.5%), Sogou (up 1.19%) ), Maverick Electric (up 1.16%), Perseid (up 1.15%), financial sector (up 1.07%), LeGu (up 0.58%), Auto House (up 0.5%), Reunion Group (up 0.47%), fluent (up 0.3%) Sina (up 0.27%), Huami (up 0.16%), Jumeiypco (up 0.15%), Baozun E-commerce (up 0.14%) and Zhongtong (up 0.04%).
Companies that were on the same day as the previous trading day included: Swim.
Among the companies that fell were: Small Win Technology (down 0.01%), Jianan Technology (down 0.57%), Medu Street (down 0.96%), Xinandu (down 1.3%), 58 Tongcheng (down 1.42%), netease (down 1.61%), NetEase (down 1.61%), Yun (down 1.81%), Touch (down 1.88%), Youxin (down 1.92%), Doofish (down 2.01%), Tito (down 2.17%), Futo Holdings (down 2.41%), Pleasant Loans (down 3.86%), Group Car (down 3.9 per cent), Tuan (down 4.1 per cent), Such as Han Holdings (down 4.25%), Tiger Securities (down 4.44%), Century Connect (down 5.77 per cent) and Tiger Tooth (down 6.51 per cent).
Luckin Coffee was suspended today.
Edge’s shares rose 3.22% as the two institutions joined forces to short
The shares plunged in early trading, falling more than 10 per cent after it was seen by Wolfpack Research and short-singmakers. Wolfpack Research said that Aichi had committed fraud before it went public in 2018 and continued to do so after going public. It estimates that Aichi art will increase revenue by 8 billion to 13 billion yuan in 2019, accounting for 27%-44% of revenue. Edge also has a virtual 42%-60% user base. In addition, Wolfpack Research noted that Edge inflated the company’s expenses, as well as the purchase of content, other assets and the price of the purchase transaction, to offset the inflated cash and conceal fraud from auditors and investors. In October and November last year, Wolfpack Research conducted a survey of 1,563 AiQi target audiences and found that about 31.9% of Aichi users, only by becoming members of JD.com, Xiaomi and other partners, access to their VIP content, AiQi Art to all of these users’ membership fees into revenue, the partner’s share into the fee. Wolfpack Research also found that in 2015, 2016 and 2017, Aichi falsely reported 261.7 percent, 165.5 percent and 86.2 percent of its pre-receiving income to the Securities and Exchange Commission. Meanwhile, another shorting agency, HunShui, tweeted that it had assisted Wolfpack Research’s investigation into The Ivy. In response, Aichi said the third-party challenger’s report, citing data and conclusions, was grossly false and inconsistent with the actual situation, and that the financial and operational data disclosed by the company were true and in accordance with SEC requirements. Edge will retain the right to pursue legal action against third parties for false accusations. Edge rose $0.54, or 3.22 percent, to $17.3 in regular trading today. At one point in after-hours trading, Edge’s shares were down $0.50.
NIO’s March delivery rose 116.8 per cent month-on-month, with shares up more than 9 per cent
NIO yesterday revealed car deliveries for March 2020. NIO delivered 1,533 vehicles in March, an increase of 116.8% month-on-month, mainly due to increasing production. The NIO delivered 1,479 ES6s and 54 ES8s in March. NIO plans to deliver the new ES8 model from April. As of March 31, 2020, NIO delivered a total of 35,751 ES8 and ES6, of which 3,838 were in the first quarter of this year, 9.7 percent higher than the company’s median. NIO Chairman and CEO Li Bin said that with the strong support of supply chain partners, production gradually resumed in March. In addition to continuing to sell through the network, NIO store traffic is also gradually restored. With the support of the user community, NIO orders have been growing since February. NIO Chief Financial Officer Feng Wei said that since the current outbreak in China is largely under control, the company will continue to work closely with supply chain partners to resume normal production. NIO will consolidate online and offline sales channels to further drive order growth. NIO shares rose $0.23, or 9.31 percent, to $2.70 in regular trading today.
U.S./Foreign Technology Stocks
Other foreign technology stocks rose, including Lyft (up 6.88 per cent), Lending Club (up 6.34 per cent), Tesla (up 5.66 per cent), Spotify (up 4.15 per cent), BlackBerry (up 3.74 per cent), Groupon (up 3.53 per cent), Twitter (up 2.73 per cent), Fibit (up 2.62 per cent), and IRobot (up 2.51 per cent), and I.3 3 per cent. eBay (up 1.41 per cent), Motorola Systems (up 1.09 per cent), Hewlett-Packard (up 0.8 per cent), GoPro (up 0.79 per cent), Speed gold (up 0.79 per cent), VMware (up 0.5 per cent), Micron Technologies (up 0.37 per cent), Yelp (up 0.36 per cent), Broadcom (up 0.33 per cent), IBM (up 0.08 per cent), and IBM (up 0.08 per cent).
Companies that were flat on the previous trading day included Nokia.
Among the decliners were Intel (down 0.05%), SAP (down 0.16%), Symantec (down 0.16%), Yidian (down 0.18%), Sony (down 0.34%), Snap (down 0.49%), Uber (down 0.96%), Pinterest (down 0.99%), Western Digital (down 1.04%), Pay (down 1.37%), Dell Technologies (down 1.39%), Pay (down 1.37%), Dell Technologies (down 1.39%), Sony (down 0.34%), Snap (down 0.49%), Uber (down 0.96%), Western Digital (down 1.04%), Pay (down 1.37%), Dell Technologies (down 1.39%), Oracle (down 1.42 per cent), Salesforce (down 1.68 per cent), Cisco (down 1.91 per cent), Ericsson (down 2.13 per cent), Momentum Blizzard (down 2.81 per cent), NXP (down 3.06 per cent), Adobe (down 3.2 per cent), Slack (down 3.41 per cent), Inveda (down 3.49 per cent), Zynga (down 3.67 per cent), Zynga (down 3.67 per cent) and Zynga box (down 4.11 per cent).
Microsoft’s share stake rated as “overweight” down more than 1%
Under the outbreak of home telecommuting tide, so that cloud services stocks by investors concerned, “the first” is Microsoft. Daniel Ives of Wedbush Securities released an investment report Monday to maintain its “overweight” stock rating and $210 target share price. Microsoft shares fell $1.78, or 1.08 percent, to $163.49 in regular trading today. “Most of Microsoft’s market capitalisation is related to its cloud service offerings,” Mr. Eavis said in the report. We believe that the outbreak will be a turning point/catalyst for enterprises to deploy cloud services environments. Our expectation that 33%-55% of our workload will shift to cloud services in 2022 appears to be conservative and may be achieved a year ahead of schedule. “The IBD data shows that Microsoft’s share price is approaching the buying point of $190.8, with a relative strength index of 95, which means it has outperformed 95 per cent of its shares over the past 12 months. On Monday, Microsoft’s shares closed above the 50-day moving average. On Friday, RBC Capital Markets issued an investment report rating Microsoft’s stock as “overweight” and its target price at $200.
Tesla’s long-range Model 3 rose 5.66 percent as early as this week in China
Tesla plans to launch a long-haul Model 3 in China as early as this week. Bloomberg, citing people familiar with the matter, said the long-haul Model 3 was more expensive and could be available within days. The long-range Model 3 can travel about 404 miles on a single charge, well above the current model’s about 280 miles. The current Model 3 starts at $458,000. Excluding discounts, the long-range Model 3 will start at just under $50,000, with the exact price yet to be finalised. Similar to the current model, the long-haul model 3 can also apply for new energy vehicle subsidies, and free of car purchase tax. Tesla said last month that production capacity had increased significantly since it resumed production on February 10, with production reaching 3,000 vehicles a week. Analysts at Jefferies upgraded Tesla’s stock rating from “hold” to “buy”, arguing that Tesla will have strong support from governments in China and Europe, with Tesla shares rising in recent days. Jefferies analyst Philippe Houchois expects Tesla sales to grow 27 percent in 2020, above the 20 percent average wall analysts had expected. Tesla shares rose 4.51 percent to $539.5 in premarket trading Tuesday. Tesla shares rose $29.21, or 5.66 percent, to $545.45 in regular trading today.