Nyob rau hauv nruab nrab ntawm 2021's soaring tech IPO thiab SPAC kev ua lag luam, muaj ib tus kws tshuaj ntsuam Wall Street yav dhau los qhia rau txhua tus uas yuav mloog tias qee yam tsis raug.
David Trainer, tus tsim thiab CEO ntawm kev tshawb fawb lub tuam txhab New Constructs, tau tsom mus rau lub hauv paus ntawm cov lag luam tom qab cov ntaub ntawv sau nqi, thiab qhov nws pom tsis zoo.
Tus kws qhia tau ceeb toom cov tub ua lag luam hauv 2021 tias ntau cov khoom siv dav hlau ya dav hlau thiab IPOs thaum lub sijhawm tau ua lag luam ntawm "tech npuas” theem. Thiab tseem phem dua, qee qhov yog qhov nws hu ua "zombie tuam txhab," lossis cov tuam txhab uas tsis tuaj yeem tsim cov nyiaj txaus txaus los them lawv cov nuj nqis, yuam lawv qiv nyiaj txuas ntxiv kom muaj sia nyob. Tej zaum koj tau hnov txog qee qhov ntawm cov zombies no, zoo li tus kws ua haujlwm-tsheb tuam Peloton.
Thiab tus kws qhia muaj kev ntseeg siab ntawm no: Nws firm lub vas sab hais tias nws txoj kev siv tshuab kev kawm los soj ntsuam kev lag luam tau vaulted nws mus rau pem hauv ntej ntawm nws daim teb, yielding koom tes nrog ntau hedge funds thiab cov ntaub ntawv muab kev koom tes nrog rau Refinitiv thiab Ernst & Young.
Tam sim no, nrog Federal Reserve aggressively nce paj paj thiaj li sib ntaus sib tua theem ntawm kev nce nqi tsis pom nyob rau hauv plaub lub xyoo caum, Tus kws qhia sib cav hais tias qee lub tuam txhab zombie no tuaj yeem pom lawv cov nqi lag luam poob rau $ 0 raws li tus nqi qiv nyiaj nce siab.
"Lub sijhawm dhau mus rau cov tuam txhab nyiaj kub kub tau khaws cia nrog kev nkag tau yooj yim rau peev," Tus kws qhia tau sau rau hauv daim ntawv tshawb fawb hnub Thursday. "Cov tuam txhab 'zombie' no muaj kev pheej hmoo ntawm kev lag luam yog tias lawv tsis tuaj yeem nce cov nuj nqis lossis kev ncaj ncees, uas tsis yooj yim li nws tau ua. Raws li Fed nce tus nqi paj thiab xaus kom muaj nuj nqis, kev nkag mus rau cov peev pheej yig tau qhuav sai. "
Qee qhov kev hu tau zoo
Ua ntej dhia mus rau tus kws qhia tam sim no hu xov tooj, nws yog ib qho tseem ceeb uas yuav tau saib rov qab ntawm nws cov ntaub ntawv teev tseg. Tus kws qhia thiab nws pab neeg ntawm cov kws tshuaj ntsuam xyuas ntawm New Constructs tau txaus siab tso lawv lub caj dab tawm tsam tawm tsam cov kws tshuaj ntsuam Wall Street tau ntau xyoo tam sim no, thiab feem ntau them nyiaj.
Ua piv txwv ntawm lub tuam txhab hluav taws xob tsheb Rivian, uas tau tshaj tawm rau pej xeem thaum Lub Kaum Ib Hlis 10, 2021, thiab saib nws Tshuag surge tshaj 50% nyob rau hauv ib hnub, muab lub tuam txhab tus nqi rau sab qaum teb ntawm $ 100 billion.
Thaum lub sijhawm, cov kws tshuaj ntsuam xyuas Wall Street sab saum toj, suav nrog Wedbush's Dan Ives, tau hu lub tuam txhab "EV stalwart hauv kev tsim." Tus kws qhia, ntawm qhov tod tes, sib cav qhov tseeb tus nqi ntawm lub tuam txhab yog ntau dua li $ 13 billion. Txij thaum ntawd los, Rivian cov khoom lag luam tau poob ntau dua 80%, thiab nws cov peev nyiaj lag luam tam sim no tsuas yog ntau dua $ 25 billion.
Ces muaj WeWork. Thaum Lub Yim Hli 2019, tsuas yog tsib hnub tom qab lub tuam txhab leasing chaw ua haujlwm - uas muaj nuj nqis ntawm $ 47 nphom hauv kev lag luam ntiag tug - tau foob nws. pib prospectus mus rau pej xeem, New Constructs daim ntawv qhia hu ua IPO "qhov tsis txaus ntseeg tshaj plaws" thiab " txaus ntshai tshaj plaws" ntawm lub xyoo.
"WeWork tau luam tawm cov qauv kev lag luam qub, piv txwv li chaw ua haujlwm leasing, npuaj qee qhov kev siv thev naus laus zis ntawm nws, thiab ua rau cov neeg ua lag luam ua lag luam ua lag luam kom muaj nuj nqis rau lub tuam txhab ntau dua 10x nws cov neeg sib tw ze tshaj plaws," tsab ntawv ceeb toom tau hais.
Tus kws qhia thiab nws pab neeg ntawm New Constructs tsis ntseeg tias WeWork tsim nyog ntawm nws qhov kev ntsuas siab saum ntuj tom qab poob $ 1.9 nphom ntawm tsuas yog $ 1.8 nphom hauv cov nyiaj tau los hauv 2018.
Lub tuam txhab thaum kawg ua tsis tiav rau pej xeem hauv 2019, tso tawm ntau txhiab tus neeg ua haujlwm, thiab pom nws qhov ntsuas qhov ntsuas kub qis dua $ 5 billion. Tam sim no, tom qab mus rau pej xeem los ntawm SPAC xyoo 2021, lub tuam txhab kev lag luam peev tsawg dua $ 4.5 nphom, thiab nws poob ntxiv $ 435 lab hauv thawj peb lub hlis twg ntawm lub xyoo no ib leeg.
Hnub Thursday, Tus Kws Qhia Ntawv tau tso tawm ob peb lub tuam txhab uas tseem phem tshaj tam sim no dua li WeWork lossis Rivian ib zaug. Nws yog lub sijhawm los ntsib cov zombies.
Peloton
Cov neeg ua haujlwm caij tsheb kauj vab Peloton tau dhau los ua lub khw muag khoom nyiam thaum muaj kev sib kis thoob ntiaj teb vim tias cov tub ua lag luam maj nrawm mus nrhiav cov tuam txhab uas yuav tau txais txiaj ntsig los ntawm kev kaw cia thiab kev loj hlob ntawm kev ua haujlwm hauv tsev.
Lub tuam txhab cov khoom lag luam tau nce los ntawm qis dua $ 20 toj ib feem hauv lub Peb Hlis 2020 txog ntau dua $ 162 ntawm nws lub Kaum Ob Hlis 2021 ncov. Lub sijhawm ntawd, Tus Kws Qhia thiab nws pab pawg tsis ntseeg.
Lawv tau ntxiv Peloton rau lawv cov npe "Danger Zone" - uas taug qab cov khoom lag luam uas muaj nuj nqis heev los ntawm Wall Street tab sis muaj cov teeb meem kev lag luam hauv qab - thaum lub Cuaj Hlis 2019, sib cav tias lub tuam txhab tau hlawv los ntawm cov nyiaj ntsuab ntawm qhov tsis muaj txiaj ntsig.
Peloton tam sim no ua lag luam ntawm tsuas yog $ 10 ib feem, thiab Tus Kws Qhia tau ceeb toom tej yam yuav ua rau tsis zoo mus tom ntej.
"Peloton cov teeb meem tau tshaj tawm zoo - muab cov khoom lag luam poob rau xyoo dhau los - tab sis cov tub ua lag luam yuav tsis paub tias lub tuam txhab tsuas muaj ob peb lub hlis ntawm cov nyiaj ntsuab tshuav nyiaj rau nws cov haujlwm, uas ua rau cov khoom lag luam poob rau $ 0 ib qho. qhia,” Tus kws qhia ntawv sau rau hauv nws daim ntawv tshawb fawb hnub Thursday.
Pab Pawg Tshiab Constructs tau sau tseg tias Peloton cov nyiaj pub dawb pub dawb, qhov ntsuas ntawm cov nyiaj ntau npaum li cas lub tuam txhab tau txais tom qab them nws cov nuj nqis khiav lag luam thiab cov peev txheej, tau ua tsis zoo txhua xyoo txij li xyoo 2019. Lub tuam txhab tau kub hnyiab txog $ 3.7 billion hauv cov nyiaj pub dawb txij li thaum. , thiab tsuas yog muaj ob peb lub hlis txhawm rau nce nyiaj ntxiv yog tias nws vam tias yuav ua haujlwm ntxiv ntawm nws qhov kev siv nyiaj tam sim no, Tus Kws Qhia tau hais.
Carvana
Lub khw muag khoom tsheb online Carvana yog lwm lub khw muag khoom nyiam thaum muaj kev sib kis. Raws li siv tsheb tus nqi nce siab Thaum muaj teeb meem ntawm cov khoom lag luam, Carvana pom nws cov khoom lag luam nce qis dua $ 30 hauv lub Peb Hlis 2020, mus rau ntau dua $ 360 ntawm nws lub Yim Hli 2021 ncov.
Ib zaug ntxiv, Tus kws qhia thiab nws pab neeg tsis tau ntseeg. Lawv tuav Carvana hauv lawv "Danger Zone" txij thaum Lub Yim Hli 2020, thiab tau saib raws li cov khoom lag luam tau poob ntau dua 88% xyoo no ib leeg.
Tam sim no, lawv ntseeg tias lub tuam txhab tuaj yeem poob nyiaj poob haujlwm, ua rau nws cov Tshuag poob rau $ 0.
Carvana tau ua tsis tiav los ua kom muaj txiaj ntsig zoo nyiaj pub dawb txhua xyoo txij li mus rau pej xeem hauv 2017, hlawv dhau $ 8.6 nphom hauv lub sijhawm ntawd. Thiab nyob rau lub Plaub Hlis, nws raug yuam kom them cov nuj nqis ntxiv ntawm cov paj laum uas tsis yog raws nraim. Lub tuam txhab tau ntxiv $ 3.3 nphom hauv cov ntawv laus tsis muaj kev ruaj ntseg nrog tus paj laum ntawm 10.25%.
Txawm tias tom qab cov nyiaj ntsuab tshiab tuaj, Tus Kws Qhia hais tias Carvana yuav raug yuam kom nce nyiaj ntau dua thaum kawg ntawm lub xyoo. Qhov ntawd yog xov xwm tsis zoo rau lub khw muag khoom tsheb hauv online.
"Carvana cov nyiaj ntsuab poob qis, kev sib tw hnyav, thiab kev nce nqi ua rau cov khoom lag luam poob qis rau $ 0 ib feem, uas yuav ua rau muaj kev puas tsuaj rau cov tub ua lag luam, tshwj xeeb tshaj yog cov uas yuav cov khoom lag luam thaum lub caij ntuj sov 2021, thaum nws pauv mus rau sab qaum teb ntawm $ 300 ib feem, ” Tus kws qhia sau rau hauv nws daim ntawv tshawb fawb hnub Thursday.
Freshpet
Lub tuam txhab khoom noj tsiaj Freshpet kuj pom nws cov khoom lag luam nce siab thaum muaj kev sib kis, tab sis tus kws qhia hais tias cov tub ua lag luam tsis quav ntsej lub tuam txhab cov qauv kev lag luam thiab keeb kwm ntawm kev kub nyhiab los ntawm nyiaj ntsuab.
Pab Pawg Tsim Kho Tshiab tau muab Freshpet tso rau hauv nws "Danger Zone" thaum Lub Ob Hlis 2022, sib cav tias nws tau ua qhov tseem ceeb ntawm kev loj hlob los ntawm kev siv nyiaj ntau lab rau kev tshaj tawm, yam tsis tau ua pov thawj tias nws tuaj yeem hloov tau cov txiaj ntsig.
Tam sim no, cov khoom lag luam poob qis dua 40% xyoo rau hnub tim, thiab Tus Kws Qhia hais tias nws tsuas muaj cuaj lub hlis ntawm cov nyiaj tshuav ntawm nws qhov kev siv nyiaj tam sim no ua ntej nws yuav tau them nuj nqis ntxiv.
"Cov tub ua lag luam thaum kawg tau sawv los rau qhov txaus ntshai nyob hauv Freshpet cov khoom lag luam, uas tuaj yeem poob mus rau $ 0 ib feem," Tus kws qhia sau rau hnub Thursday. "Freshpet tau loj hlob cov kab saum toj kawg nkaus ntawm tus nqi ntawm cov kab hauv qab, thiab kev muag khoom loj hlob tau ua rau muaj nyiaj ntau dua. Lub tuam txhab nyiaj pub dawb (FCF) tau ua tsis zoo txhua xyoo txij li xyoo 2017, thiab nws qhov FCF qhov hluav taws kub tau ua phem rau xyoo tas los no. "
Peloton, Carvana, thiab Freshpet tsis tau teb tam sim ntawd rau kev thov tawm tswv yim.
Zaj dab neeg no yog thaum chiv keeb los Fortune.com
Tau qhov twg los: https://finance.yahoo.com/news/peloton-2-other-major-zombie-172123769.html