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Henry33

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- Henry33Henry33
  ·2021-07-06
  Oh no
  Sorry, this post has been deleted
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- Henry33Henry33
  ·2021-07-06
  Great
  China stocks end lower as healthcare, tech firms tumble
  Shanghai, July 6 (Reuters) - China stocks ended lower on Tuesday, with healthcare and tech firms lea
  China stocks end lower as healthcare, tech firms tumble
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- Henry33Henry33
  ·2021-07-06
  Great
  Sorry, this post has been deleted
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- Henry33Henry33
  ·2021-07-05
  Hope it recover
  Sorry, this post has been deleted
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- Henry33Henry33
  ·2021-07-03
  Hope its good to invest
  Sorry, this post has been deleted
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- Henry33Henry33
  ·2021-07-02
  Good buy
  Sorry, this post has been deleted
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- Henry33Henry33
  ·2021-07-02
  ?
  A Wave of Earnings Restatements Slams a Hot Market
  Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.
  A Wave of Earnings Restatements Slams a Hot Market
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- Henry33Henry33
  ·2021-06-30
  Pls give me a like
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no&nbsp;","listText":"Oh no&nbsp;","text":"Oh 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brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1625557462,"share":"https://ttm.financial/m/news/2149356038?lang=&edition=fundamental","pubTime":"2021-07-06 15:44","market":"hk","language":"en","title":"China stocks end lower as healthcare, tech firms tumble","url":"https://stock-news.laohu8.com/highlight/detail?id=2149356038","media":"Reuters","summary":"Shanghai, July 6 (Reuters) - China stocks ended lower on Tuesday, with healthcare and tech firms lea","content":"<p>Shanghai, July 6 (Reuters) - China stocks ended lower on Tuesday, with healthcare and tech firms leading the losses, as local investors remained wary of lofty valuations of certain sectors.</p>\n<p>** The blue-chip CSI300 index edged down 0.1% to 5,083.10, while the Shanghai Composite Index ended flat at 3,530.26 points.</p>\n<p>** Shenzhen's start-up board declined 1.8%, while Shanghai's tech-focused lost 2.7%.</p>\n<p>** Leading the declines among sectors, the CSI300 healthcare index&nbsp;tumbled as much as 6% before ending 3.8% lower.</p>\n<p>** Hangzhou Tigermed Consulting Co Ltd , <a href=\"https://laohu8.com/S/SFOSF\">Shanghai Fosun Pharmaceutical Group Co Ltd</a> , Aier Eye Hospital Group Co Ltd, Beijing Tongrentang Co Ltd , and Wuxi AppTec Co Ltd&nbsp;retreated between 5% and 10.9%.</p>\n<p>** \"The growth rates of many healthcare firms could not support their current high valuations,\" Yan Kaiwen, an analyst with China Fortune Securities said.</p>\n<p>** Yan said some investors shifted to cheaper sectors with stable growth, including developers.</p>\n<p>** The CSI300 real-estate index climbed 2.9%, with bellwether Vanke up 2.8%.</p>\n<p>** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.08%, while Japan's Nikkei index closed up 0.16%.</p>\n<p>** At 0713 GMT, the yuan was quoted at 6.4612 per U.S. dollar, 0.04% firmer than the previous close of 6.4639.</p>\n<p>** As of 0714 GMT, China's A-shares were trading at a premium of 39.50% over the Hong Kong-listed H-shares.</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>China stocks end lower as healthcare, tech firms tumble</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\">\nChina stocks end lower as healthcare, tech firms tumble\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-06 15:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Shanghai, July 6 (Reuters) - China stocks ended lower on Tuesday, with healthcare and tech firms leading the losses, as local investors remained wary of lofty valuations of certain sectors.</p>\n<p>** The blue-chip CSI300 index edged down 0.1% to 5,083.10, while the Shanghai Composite Index ended flat at 3,530.26 points.</p>\n<p>** Shenzhen's start-up board declined 1.8%, while Shanghai's tech-focused lost 2.7%.</p>\n<p>** Leading the declines among sectors, the CSI300 healthcare index&nbsp;tumbled as much as 6% before ending 3.8% lower.</p>\n<p>** Hangzhou Tigermed Consulting Co Ltd , <a href=\"https://laohu8.com/S/SFOSF\">Shanghai Fosun Pharmaceutical Group Co Ltd</a> , Aier Eye Hospital Group Co Ltd, Beijing Tongrentang Co Ltd , and Wuxi AppTec Co Ltd&nbsp;retreated between 5% and 10.9%.</p>\n<p>** \"The growth rates of many healthcare firms could not support their current high valuations,\" Yan Kaiwen, an analyst with China Fortune Securities said.</p>\n<p>** Yan said some investors shifted to cheaper sectors with stable growth, including developers.</p>\n<p>** The CSI300 real-estate index climbed 2.9%, with bellwether Vanke up 2.8%.</p>\n<p>** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.08%, while Japan's Nikkei index closed up 0.16%.</p>\n<p>** At 0713 GMT, the yuan was quoted at 6.4612 per U.S. dollar, 0.04% firmer than the previous close of 6.4639.</p>\n<p>** As of 0714 GMT, China's A-shares were trading at a premium of 39.50% over the Hong Kong-listed H-shares.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAAS":"中汽系统"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2149356038","content_text":"Shanghai, July 6 (Reuters) - China stocks ended lower on Tuesday, with healthcare and tech firms leading the losses, as local investors remained wary of lofty valuations of certain sectors.\n** The blue-chip CSI300 index edged down 0.1% to 5,083.10, while the Shanghai Composite Index ended flat at 3,530.26 points.\n** Shenzhen's start-up board declined 1.8%, while Shanghai's tech-focused lost 2.7%.\n** Leading the declines among sectors, the CSI300 healthcare index tumbled as much as 6% before ending 3.8% lower.\n** Hangzhou Tigermed Consulting Co Ltd , Shanghai Fosun Pharmaceutical Group Co Ltd , Aier Eye Hospital Group Co Ltd, Beijing Tongrentang Co Ltd , and Wuxi AppTec Co Ltd retreated between 5% and 10.9%.\n** \"The growth rates of many healthcare firms could not support their current high valuations,\" Yan Kaiwen, an analyst with China Fortune Securities said.\n** Yan said some investors shifted to cheaper sectors with stable growth, including developers.\n** The CSI300 real-estate index climbed 2.9%, with bellwether Vanke up 2.8%.\n** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.08%, while Japan's Nikkei index closed up 0.16%.\n** At 0713 GMT, the yuan was quoted at 6.4612 per U.S. dollar, 0.04% firmer than the previous close of 6.4639.\n** As of 0714 GMT, China's A-shares were trading at a premium of 39.50% over the Hong Kong-listed H-shares.","news_type":1,"symbols_score_info":{"CAAS":0.9}},"isVote":1,"tweetType":1,"viewCount":1672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157917843,"gmtCreate":1625559650282,"gmtModify":1703743714124,"author":{"id":"4087299060581740","authorId":"4087299060581740","name":"Henry33","avatar":"https://static.tigerbbs.com/c600b3b06e0b1b8b34d069a1fa7c8295","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087299060581740","idStr":"4087299060581740"},"themes":[],"htmlText":"Great","listText":"Great","text":"Great","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/157917843","repostId":"2149466331","repostType":4,"isVote":1,"tweetType":1,"viewCount":2107,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154387370,"gmtCreate":1625480360290,"gmtModify":1703742450424,"author":{"id":"4087299060581740","authorId":"4087299060581740","name":"Henry33","avatar":"https://static.tigerbbs.com/c600b3b06e0b1b8b34d069a1fa7c8295","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087299060581740","idStr":"4087299060581740"},"themes":[],"htmlText":"Hope it recover&nbsp;","listText":"Hope it recover&nbsp;","text":"Hope it recover","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/154387370","repostId":"1176939459","repostType":4,"isVote":1,"tweetType":1,"viewCount":1678,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152219967,"gmtCreate":1625295325859,"gmtModify":1703740162750,"author":{"id":"4087299060581740","authorId":"4087299060581740","name":"Henry33","avatar":"https://static.tigerbbs.com/c600b3b06e0b1b8b34d069a1fa7c8295","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087299060581740","idStr":"4087299060581740"},"themes":[],"htmlText":"Hope its good to invest&nbsp;","listText":"Hope its good to invest&nbsp;","text":"Hope its good to invest","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/152219967","repostId":"1140994998","repostType":4,"isVote":1,"tweetType":1,"viewCount":2637,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156231870,"gmtCreate":1625223819490,"gmtModify":1703738708181,"author":{"id":"4087299060581740","authorId":"4087299060581740","name":"Henry33","avatar":"https://static.tigerbbs.com/c600b3b06e0b1b8b34d069a1fa7c8295","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087299060581740","idStr":"4087299060581740"},"themes":[],"htmlText":"Good buy&nbsp;","listText":"Good buy&nbsp;","text":"Good buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156231870","repostId":"1113667158","repostType":4,"isVote":1,"tweetType":1,"viewCount":1653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156233198,"gmtCreate":1625223764214,"gmtModify":1703738705843,"author":{"id":"4087299060581740","authorId":"4087299060581740","name":"Henry33","avatar":"https://static.tigerbbs.com/c600b3b06e0b1b8b34d069a1fa7c8295","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087299060581740","idStr":"4087299060581740"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156233198","repostId":"1129356287","repostType":4,"repost":{"id":"1129356287","kind":"news","pubTimestamp":1625220037,"share":"https://ttm.financial/m/news/1129356287?lang=&edition=fundamental","pubTime":"2021-07-02 18:00","market":"us","language":"en","title":"A Wave of Earnings Restatements Slams a Hot Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1129356287","media":"The Wall Street Journal","summary":"Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n","content":"<blockquote>\n Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n</blockquote>\n<p>More than 540 companies have restated their financial accounts in the past three months, higher than every full year since 2013, to comply with a directive from Washington, new data show.</p>\n<p>The guidance from the Securities and Exchange Commission hasn’t had a big impact on investors but has helped cause a big slowdown in one of the market’s hottest areas.</p>\n<p>The SEC’s statement targeted special-purpose acquisition companies, saying in April thatsome were improperly accounting for warrants. The guidance took the market by surprise, according to analysts. Issuance of SPACs has tumbled since. What’s more, some SPACs used the restatements to disclose other more serious problems.</p>\n<p>SPACs, or blank-check companies, are shells that raise money and list on an exchange, with the goal of merging with a private firm and taking it public. Many issue warrants as part of the fundraising, giving investors the right to buy stock in the new entity created by the merger at an arranged price. The warrants are seen as animportant inducement for investorsin what are typically high-risk early-stage companies.</p>\n<p><img src=\"https://static.tigerbbs.com/4b60b5f5992aee0f496e53d24daf7e74\" tg-width=\"313\" tg-height=\"408\" referrerpolicy=\"no-referrer\"></p>\n<p>For years, SPACs and companies that had merged with SPACs treated these warrants as equity in their financial statements. The SEC in April said certain features of many of the warrants, such as better terms being offered to sponsors than outside investors, meant they should instead be treated as liabilities. One reason is that there is the potential for a cash payout in some circumstances.</p>\n<p>An SEC spokesman said the issue addressed in its April statement was “not a new accounting question.” Guidance on how to classify warrants was included in accounting rules more than a decade ago, the spokesman said.</p>\n<p>SPACs were booming when the SEC dropped its accounting bombshell. The regulator’s guidance forced a scramble among auditors and lawyers, as companies had to rethink their treatment of warrants before going public or completing mergers. At the same time, shares of popular companies tied to SPACs were tumbling, helping to stall new issuance.</p>\n<p>The monthly amount raised by new blank-check companies plummeted from $35 billion in March to $3 billion in April and has yet to recover, according to data provider Dealogic. SPACs raised $3.9 billion in May and $3.2 billion in 2021 through June 24, the data show.</p>\n<p>“The SEC statement had the impact of immediately stopping the SPAC market—it shut everything down,” said David Larsen, a managing director at valuation firm Duff &amp; Phelps LLC. “We’re still dealing with the aftermath.”</p>\n<p>Deals are still getting done, with a steady stream of SPACs taking companies public in recent weeks. The slowdown may have helped take some of the speculative froth out of the market, according to analysts. “It allowed people to take their breath in a superheated market,” Mr. Larsen said.</p>\n<p>More than 540, or almost three-quarters, of active SPACs and companies taken public by SPACs have restated their financials to comply with the SEC rules. Of those, more than 200 have made a less serious type of restatement that doesn’t require alerting investors, according to an analysis by data provider Audit Analytics.</p>\n<p>A further 330 SPACs and SPAC targets have done the most serious type of correction—the kind for which a company has to alert investors and reissue its financial statements. That is more such restatements, in less than three months, than the annual total for all companies in every year since 2010, the analysis found.</p>\n<p>Several companies taken public by SPACs also have restated other more serious aspects of their financial statements. Electric-truck startupLordstown MotorsCorp.disclosed in June “substantial doubt” about its ability to continue as a going concern through the end of this year. The company’s two top leaders later resigned over inaccuracies in the way it recorded preorders for its truck. Lordstownthis month saidit felt it had enough funding to carry it through May 2022 and was still trying to raise money.</p>\n<blockquote>\n <b>‘It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements.’</b>&nbsp;— Joel Rubinstein, White &amp; Case partner\n</blockquote>\n<p>Investors typically send stocks tumbling after major restatements, academic research has found. But these SEC-induced revisions are different.</p>\n<p>“It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements,” said Joel Rubinstein, a partner at law firm White &amp; Case.</p>\n<p>One reason is that SPACs are shell companies designed only to do deals. For SPACs that have yet to do a deal, investors typically don’t base their decisions on the companies’ financial performance, but instead judge the executive team.</p>\n<p>There is continuing fallout from the SEC action: Treating the warrants as liabilities means they will have to be revalued every three months, when the company reports its latest financial results, as opposed to the one-off value if the warrants are included as equity.</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>A Wave of Earnings Restatements Slams a Hot Market</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; 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}\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\">\nA Wave of Earnings Restatements Slams a Hot Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n\nMore than 540 companies have restated their financial accounts in the past three months, higher ...</p>\n\n<a href=\"https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129356287","content_text":"Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n\nMore than 540 companies have restated their financial accounts in the past three months, higher than every full year since 2013, to comply with a directive from Washington, new data show.\nThe guidance from the Securities and Exchange Commission hasn’t had a big impact on investors but has helped cause a big slowdown in one of the market’s hottest areas.\nThe SEC’s statement targeted special-purpose acquisition companies, saying in April thatsome were improperly accounting for warrants. The guidance took the market by surprise, according to analysts. Issuance of SPACs has tumbled since. What’s more, some SPACs used the restatements to disclose other more serious problems.\nSPACs, or blank-check companies, are shells that raise money and list on an exchange, with the goal of merging with a private firm and taking it public. Many issue warrants as part of the fundraising, giving investors the right to buy stock in the new entity created by the merger at an arranged price. The warrants are seen as animportant inducement for investorsin what are typically high-risk early-stage companies.\n\nFor years, SPACs and companies that had merged with SPACs treated these warrants as equity in their financial statements. The SEC in April said certain features of many of the warrants, such as better terms being offered to sponsors than outside investors, meant they should instead be treated as liabilities. One reason is that there is the potential for a cash payout in some circumstances.\nAn SEC spokesman said the issue addressed in its April statement was “not a new accounting question.” Guidance on how to classify warrants was included in accounting rules more than a decade ago, the spokesman said.\nSPACs were booming when the SEC dropped its accounting bombshell. The regulator’s guidance forced a scramble among auditors and lawyers, as companies had to rethink their treatment of warrants before going public or completing mergers. At the same time, shares of popular companies tied to SPACs were tumbling, helping to stall new issuance.\nThe monthly amount raised by new blank-check companies plummeted from $35 billion in March to $3 billion in April and has yet to recover, according to data provider Dealogic. SPACs raised $3.9 billion in May and $3.2 billion in 2021 through June 24, the data show.\n“The SEC statement had the impact of immediately stopping the SPAC market—it shut everything down,” said David Larsen, a managing director at valuation firm Duff & Phelps LLC. “We’re still dealing with the aftermath.”\nDeals are still getting done, with a steady stream of SPACs taking companies public in recent weeks. The slowdown may have helped take some of the speculative froth out of the market, according to analysts. “It allowed people to take their breath in a superheated market,” Mr. Larsen said.\nMore than 540, or almost three-quarters, of active SPACs and companies taken public by SPACs have restated their financials to comply with the SEC rules. Of those, more than 200 have made a less serious type of restatement that doesn’t require alerting investors, according to an analysis by data provider Audit Analytics.\nA further 330 SPACs and SPAC targets have done the most serious type of correction—the kind for which a company has to alert investors and reissue its financial statements. That is more such restatements, in less than three months, than the annual total for all companies in every year since 2010, the analysis found.\nSeveral companies taken public by SPACs also have restated other more serious aspects of their financial statements. Electric-truck startupLordstown MotorsCorp.disclosed in June “substantial doubt” about its ability to continue as a going concern through the end of this year. The company’s two top leaders later resigned over inaccuracies in the way it recorded preorders for its truck. Lordstownthis month saidit felt it had enough funding to carry it through May 2022 and was still trying to raise money.\n\n‘It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements.’ — Joel Rubinstein, White & Case partner\n\nInvestors typically send stocks tumbling after major restatements, academic research has found. But these SEC-induced revisions are different.\n“It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements,” said Joel Rubinstein, a partner at law firm White & Case.\nOne reason is that SPACs are shell companies designed only to do deals. For SPACs that have yet to do a deal, investors typically don’t base their decisions on the companies’ financial performance, but instead judge the executive team.\nThere is continuing fallout from the SEC action: Treating the warrants as liabilities means they will have to be revalued every three months, when the company reports its latest financial results, as opposed to the one-off value if the warrants are included as equity.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2222,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153047754,"gmtCreate":1624991720378,"gmtModify":1703849680968,"author":{"id":"4087299060581740","authorId":"4087299060581740","name":"Henry33","avatar":"https://static.tigerbbs.com/c600b3b06e0b1b8b34d069a1fa7c8295","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087299060581740","idStr":"4087299060581740"},"themes":[],"htmlText":"Pls give me a like&nbsp;","listText":"Pls give me a like&nbsp;","text":"Pls give me a like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/153047754","isVote":1,"tweetType":1,"viewCount":1789,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}