Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

<ul>
<li>On 22 December, there there were four global metaverse ETFs launched by the local asset management companies in Korea.</li>
<li>Two days after the launch, the combined market caps of these four ETFs have already reached 163 billion won.</li>
<li>These four ETFs have different components, they all have the following four stocks in common (AMD, Microsoft, Unity Software, and Nvidia). </li>
</ul>


On 22 December, there there were four global metaverse ETFs launched by the local asset management companies in Korea.
Two days after the launch, the combined market caps of these four ETFs have already reached 163 billion won.
These four ETFs have different components, they all have the following four stocks in common (AMD, Microsoft, Unity Software, and Nvidia). 


Launch of Global Metaverse ETFs by Local Asset Mgmt Companies & Update of Korean Metaverse ETFs

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Event-Driven

<ul>
<li>There are 6 inclusions and 6 exclusions for the <a href="https://www.smartkarma.com/entities/nasdaq-100-stock-index" target="_blank" data-smartkarma-citation="entities:26197:1" rel="noopener">Nasdaq-100 Stock Index (NDX INDEX)</a> at the annual December reconstitution. The estimated one-way trade is US$11.05bn.</li>
<li>Impact on the inclusions ranges from 0.25-2.22 days of ADV to buy, while the impact on the deletions varies from 1.4-3.38 days of ADV to sell.</li>
<li>There will be large inflows on <a href="https://www.smartkarma.com/entities/meta-platforms-inc-class-a-facebook" target="_blank" data-smartkarma-citation="entities:665:1" rel="noopener">Meta Platforms (FB US)</a> and large outflows on Tesla, Apple, NVidia, Amazon and Google.</li>
</ul>


There are 6 inclusions and 6 exclusions for the Nasdaq-100 Stock Index (NDX INDEX) at the annual December reconstitution. The estimated one-way trade is US$11.05bn.
Impact on the inclusions ranges from 0.25-2.22 days of ADV to buy, while the impact on the deletions varies from 1.4-3.38 days of ADV to sell.
There will be large inflows on Meta Platforms (FB US) and large outflows on Tesla, Apple, NVidia, Amazon and Google.


NASDAQ 100 Index Rebalance: Six Changes at the Annual Reconstitution

Quality-first, Business-perspective Strategy, Urbem (HK) Limited

Steven Chen

Quality-first, Business-perspective Strategy

Equity Bottom-Up

Plover Bay Technologies / Equity Bottom-Up

<ul>
<li>Plover Bay appears cheaply valued by Mr. Market in light of the highly promising growth prospect of the SD-WAN space;</li>
<li>We find it worthwhile to dive deeper into the business and look for any value play (or value trap) from a long-term investing perspective.</li>
</ul>


Plover Bay appears cheaply valued by Mr. Market in light of the highly promising growth prospect of the SD-WAN space;
We find it worthwhile to dive deeper into the business and look for any value play (or value trap) from a long-term investing perspective.


Plover Bay: A Value Play Or A Value Trap?

TMT & Consumer Independent Equity Research Analyst, Obex Capital Research

Aaron Gabin

TMT & Consumer Independent Equity Research Analyst

TMT & Consumer Independent Equity Research

Obex Capital Research

“Obex” is Latin for Barriers to Entry. Obex Capital Management’s investment philosophy is driven by an intense focus on which business model’s Barriers to Entry are able to withstand the ever increasing competitive disruption in the TMT and Consumer Sectors.

<p style="text-align: justify;"><a href="https://www.smartkarma.com/entities/crowdstrike-holdings-inc" target="_blank" data-smartkarma-citation="entities:28117:1" rel="noopener">Crowdstrike Holdings Inc (CRWD US)</a> considered the impacts that Coronavirus is having on end market demand and its sales channel before issuing its 1Q and FY2021 guidance. And then guided FY21 revenue growth to 51%, 10pts ahead of an already bulled up sellside consensus.</p><div class="content-highlight"><p>Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.</p></div>

Crowdstrike Holdings Inc (CRWD US) considered the impacts that Coronavirus is having on end market demand and its sales channel before issuing its 1Q and FY2021 guidance. And then guided FY21 revenue growth to 51%, 10pts ahead of an already bulled up sellside consensus.Obex’s fundamental research process is focused on secular change in the TMT and Consumer sectors. We seek to differentiate between fundamental business analysis and security analysis. Before deciding if a security’s pricing and positioning merit a long or short position, we analyze the four pillars of business fundamentals (Secular Factors, TAM, Competitive Advantage, Business Model) in order to determine if this is a “good” or “not so good” opportunity.

Social Distancing? Don’t Stay Away from This Crowd (Strike)

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Technology Select Sector SPDR / Technical Analysis

<p>The S&amp;P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement.  Technology in particular continues to top our Sector RSR rankings, fueled by strengthening price and RS action for semiconductors, semi-suppliers, and numerous Software groups. Last week we upgraded our weighting for Technology and its strength continues to broaden out. In this week's report we highlight a number of actionable Technology stocks across our various Groups.</p>

The S&amp;P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement.  Technology in particular continues to top our Sector RSR rankings, fueled by strengthening price and RS action for semiconductors, semi-suppliers, and numerous Software groups. Last week we upgraded our weighting for Technology and its strength continues to broaden out. In this week's report we highlight a number of actionable Technology stocks across our various Groups.

U.S. Tech Stocks Are Leading Market Higher.

United States

Fortinet Inc. provides network security solutions. The Company offers network security appliances and related software, and subscription services. Fortinet systems integrate the industry's broadest suite of security technologies, including firewall, VPN, antivirus, intrusion prevention (IPS), Web filtering, antispam, and traffic shaping.

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Fortinet Inc (FTNT US)

Launch of Global Metaverse ETFs by Local Asset Mgmt Companies & Update of Korean Metaverse ETFs

On 22 December, there there were four global metaverse ETFs launched by the local asset management companies in Korea. The combined market caps of...

Douglas Kim

NASDAQ 100 Index Rebalance: Six Changes at the Annual Reconstitution

There are 6 changes for the NASDAQ-100 index at the annual December reconstitution. Apart from the flows on the adds and deletes, there will be...

Brian Freitas

Plover Bay: A Value Play Or A Value Trap?

Plover Bay appears cheaply valued at the backdrop of the highly promising SD-WAN space, and we find it worthwhile to dive deeper into the business...

Steven Chen

U.S. Tech Stocks Are Leading Market Higher.

The S&P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement. Technology...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Launch of Global Metaverse ETFs by Local Asset Mgmt Companies & Update of Korean Metaverse ETFs

On 22 December, there there were four global metaverse ETFs launched by the local asset management companies in Korea. The combined market caps of...

Douglas Kim

NASDAQ 100 Index Rebalance: Six Changes at the Annual Reconstitution

There are 6 changes for the NASDAQ-100 index at the annual December reconstitution. Apart from the flows on the adds and deletes, there will be...

Brian Freitas

Plover Bay: A Value Play Or A Value Trap?

Plover Bay appears cheaply valued at the backdrop of the highly promising SD-WAN space, and we find it worthwhile to dive deeper into the business...

Steven Chen

Social Distancing? Don’t Stay Away from This Crowd (Strike)

Crowdstrike Holdings Inc (CRWD US) considered the impacts that Coronavirus is having on end market demand and its sales channel before issuing its...

Aaron Gabin

U.S. Tech Stocks Are Leading Market Higher.

The S&P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement. Technology...

Vermilion Research