Sources Bilibili 3B Kong Its US, Inc. – Nasdaq Global Select Market and Hong Kong Stock Exchange
There are many Sources Bilibili 3B Kong Its US that you can use to gain more information on the stock market. Among them are Primary listings and Stock Connect. You will also be able to find a wide range of data on the performance gap between the S&P 500 and stocks in the same index.
Primary Listing
Sources Bilibili 3B Kong Its US, Inc. is a multimedia content company in the Chinese space. It is currently listed on the Nasdaq Global Select Market in the US, and on the Hong Kong Stock Exchange in Hong Kong. In March of last year, the company raised a little over US$2.6 billion through a secondary listing. Now the company is planning to take the plunge, albeit a small one, and convert its status to a full fledged primary listing. And it appears they are not the only game in town. Several other large caps have also opted to enlist the services of a third-party secondary exchange to increase liquidity in their otherwise dry commodities.
Having said that, the company is still waiting for the green light from its plethora of stakeholders. As of this writing, the stock has a market cap of around $8 billion, a fraction of its former price tag. A newfound investor base may well be the tip of the iceberg for the company, as it is already in a tough position on the regulatory front.
Performance Gap Versus the S&P 500
If you have been paying attention to the performance gap between the S&P 500 and the Russell 2000 for the past several years, you have probably seen a pattern. There have been three phases. The first, during the recession in the 1990’s, was a period when the two indices overwhelmingly outperformed each other. Next, during the strongest expansion phase in the late 1990’s, the large caps outperformed the small caps by about 50 percent. And finally, in the early 2010’s, the two indices began to diverge.
Most Recent Bullish Rebound Could Signal
However, the most recent bullish rebound could signal that the two indices are headed for similar outcomes. Moreover, if the S&P 500 moves closer to $175, it would make the current valuation less dangerous.
As of November 9, the S&P 500 is trading at more than 19 times its peak EPS estimate. This is the widest performance gap in a decade.
Bulk of the Gains
Technology has taken the bulk of the gains, but cyclical sectors like health care and financials have lagged behind. Despite that, the S&P 500 is only -4 percent below its peak. That leaves a little room for error.
Value funds have been performing poorly, however. Specifically, large value funds have underperformed growth by more than 147.2 points over the past decade.
Stock Connect
Sources Bilibili 3B Kong Its US has joined the league of Chinese tech companies that have sought to establish their foothold in Hong Kong. Its flagship product is an online video platform, but it also provides a host of other services such as live broadcasting, mobile games, and audio content.
The company’s stock has risen by over 13 percent in the past week. While its business remains loss-making, its balance sheet is sufficient to absorb some of the losses. However, the share price is down 75 per cent from its offering price last March. As for the big picture, the company expects to convert to a dual primary listing in Hong Kong by early October. In a related move, the company will be included in the Stock Connect program, allowing mainland investors to trade in Hong Kong stocks.
Final Thoughts:
Other noteworthy achievements for the company include a secondary listing on the Nasdaq and an application for a green light to convert its listing in Hong Kong to a dual primary listing. Meanwhile, the Holding Foreign Companies Accountable Act came into effect in late 2020, requiring US-listed foreign firms to adhere to audit inspection rules. Although the company has received some regulatory blessings, its stock could still experience volatility until these uncertainties are resolved.
