A live webcast of the call can be accessed from PubMatic’s Investor Relations website. But next year analysts predict EPS of $3.88 per share, which will cover the dividend, assuming oil and gas prices stay high. But on the other hand, keep in mind that my price target could take several years to achieve, whereas most analysts are just looking out one year. PubMatic Q4 2020 Earnings Conference Call. Our company provides a specialized cloud infrastructure platform that enables real-time programmatic advertising transactions. More From InvestorPlace Why Everyone Is Investing in 5G All WRONG It doesn’t matter if you have $500 in savings or $5 million. For example, if my 34% higher price target takes two years, the average annual return will be just 16% each year on a compounded basis. Stock picking is ripe for a shift away from passive investing, which could suffer a decade of low or nonexistent returns, says Bill Smead. Exxon Mobil Corp. (NYSE:XOM) is not going to lower its dividend no matter what it costs the company. The 18.2 billion yuan ($2.8 billion) fine, to penalize the anti-competitive practice of merchant exclusivity, is equivalent to 4% of Alibaba’s 2019 domestic sales. REDWOOD CITY, Calif., Feb. 04, 2021 (GLOBE NEWSWIRE) -- PubMatic, Inc. (Nasdaq: PUBM), a sell-side platform that delivers superior outcomes for digital advertising, today announced that it will release fourth quarter and fiscal year 2020 financial results after market close on February 23, 2021. Conference Call and Webcast detailsPubMatic will host a conference call to discuss its financial results on Tuesday, February 23, 2021 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). Bitcoin above $60,000 again on talk of reduced supply, Bond Market’s Stalled-Out Reflation Trade Needs Actual Inflation. feb 23 (reuters) - pubmatic inc (pubm): * pubmatic announces record fourth quarter and full year 2020 financial results * q4 earnings per share $0.34 * q4 revenue $56.2 million versus refinitiv ibes estimate of $47.4 million * sees fy 2021 revenue $180 million to $185 million * sees q1 revenue $38 million to $40 million * sees fy 2021 revenue up 21 to 24 percent What: PubMatic Fourth Quarter and Full Year 2020 Earnings Conference Call, When: February 23, 2021 at 2:00 p.m. PT (5:00 p.m. On that day PubMatic will host a conference call and webcast at 2:00 p.m. Pacific Time to discuss the company’s business and financial results. Now we have three different price targets based on dividend yield and price-to-earnings. Click here for replay. Q4 FY 2020 Earnings Release . It also cited dealers reporting strong demand for the longest-dated gilts.The success of Britain’s vaccination roll-out and plans to gradually reopen the economy have pressured gilts, lifting 50-year yields to their highest since 2019 last month. Charlie Munger Prefers Alibaba Stock to Treasury Bills. PubMatic’s cloud infrastructure platform for digital advertising empowers app developers and publishers to increase monetization while enabling media buyers to drive return on investment by reaching and engaging their target audiences in brand-safe, premium environments across ad formats and devices. An archived version of the webcast will be available from the same website after the call. Financial OutlookOur guidance assumes that the global economy continues to recover and we do not have any major COVID-19 related setbacks that may cause economic conditions to deteriorate or significantly reduce advertiser demand. Our actual results may differ materially from those contemplated by the forward-looking statements. Completed our IPO in December 2020 and raised $45.8 million in net proceeds; Experienced acceleration in our business with second half revenues growing 50% compared to the same period in the prior year; Processed 46.9 trillion impressions in 2020, a 69% increase over 2019 and increased new platform capacity throughout the year; Added 368 new publishing partners in 2020. Click here for replay. ________________________1   We calculate our net dollar-based retention rate at the end of each fiscal year by starting with the revenue from publishers in the prior fiscal year (“Prior Period Revenue”). Any way that you look at it, XOM stock looks like a good bargain here, assuming oil stays high and the stock returns to its normal historical value metrics. Applying Morningstar’s 5-year avg. Here’s what you need to know about 2021 COVID-relief payments and more. Pubmatic Announces Pricing Of IPO Of 5.9 Mln Shares At $20 Per Share. For example, Morningstar reports that over the past 5 years, its trailing 5-year dividend yield has been 4.96% (almost 5%).InvestorPlace - Stock Market News, Stock Advice & Trading Tips We can use this to estimate the normalized target value for XOM stock. PubMatic fuels the endless potential of Internet content creators. PubMatic pops on earnings, revenue beat; strong outlook. Although depreciation and amortization expense are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements. Source: Harry Green / Shutterstock.com For the past two years (8 quarters) Exxon has paid 87 cents per share in quarterly dividends. In other words, XOM stock is worth nearly 30% more or $72.46 per share. About PubMaticPubMatic delivers superior revenue to publishers by being an SSP of choice for agencies and advertisers. A handful of retailers and apparel makers have encountered a backlash in China in recent weeks, and more could soon be in the same boat. We then calculate the revenue from these same publishers in the current year (“Current Period Revenue”). Yahoo. That point came out loud and clear from the company’s latest earnings conference call. For the first quarter 2021, we expect revenue to be in the range of $38.0 million to $40.0 million, representing growth of 34% to 41% over Q1 2020. I’d like to thank our entire team for their hard work and dedication to our customers, without which our success would not be possible.”. Exxon clearly intends to maintain that dividend. Past Events March 2, 2021 at 11:00 AM EST JMP Securities Technology Conference . Changes in operating assets and liabilities: Net cash provided by operating activities, Proceeds from sales of marketable securities, Proceeds from maturities of marketable securities, Proceeds from initial public offering, net of underwriting discounts and commissions and other offering costs, Proceeds from repayment of stockholders' notes receivable, Net cash provided by (used in) financing activities, NET INCREASE IN CASH AND CASH EQUIVALENTS, CASH AND CASH EQUIVALENTS - Beginning of Year. Forward Looking Statements This press release contains “forward-looking statements.” Forward-looking statements can be identified by words such as "may," "could," "would," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar references to future periods. Pubmatic Inc Posts Q4 Earnings Per Share $0.34. Q4 2020 Earnings Fact Sheet 300.1 KB. Form 10-K. Investor Tools Print Email Alerts RSS Feeds Investor FAQs Contact IR. Q4 2020 Press Release. Since 2006, PubMatic has been expanding its owned and operated global infrastructure and continues to cultivate programmatic innovation. On Feb.23, 2021, Pubmatic released its fiscal fourth-quarter 2020 results for the quarter ending December 2020. Q4 2020 Earnings Fact Sheet 300.1 KB. PubMatic ( PUBM +17.8%) reported surge of 64% Y/Y in Q4 revenue to $56.2M led by … View details ... PubMatic Q4 2020 Earnings Conference Call. Adjusted EBITDA does not reflect: (a) changes in, or cash requirements for, our working capital needs; (b) the potentially dilutive impact of stock-based compensation; or (c) tax payments that may represent a reduction in cash available to us; and. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. We define Adjusted EBITDA as net income adjusted for stock-based compensation expense, depreciation and amortization, impairments of long-lived assets, interest income, and provision for income taxes. data is also slim with February GDP due on TuesdayECB policy maker speeches are scheduled from Isabel Schnabel, Fabio Panetta and Luis de Guindos all on Wednesday before a self-imposed quiet period kicks in ahead of the following week’s monetary policy decisionBOE policy maker Silvana Tenreyro speaks on Monday followed by Jonathan Haskel on Wednesday and Jonathan Cunliffe on FridayDBRS Ltd. reviews France on FridayFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. As the president mulls Democrat calls to cancel up to $50,000 in federally-backed student loan debt via executive order, a new analysis shows how $10,000 in forgiveness would affect borrowers in each U.S. state. Webcast and Conference Call Details What: PubMatic Fourth Quarter and Full Year 2020 Earnings Conference CallWhen: February 23, 2021 at 2:00 … Reconciliations between historical GAAP and non-GAAP information are contained at the end of this press release following the accompanying financial data. Although it was relative to a period when the pandemic caused price pressures to crash, it was the biggest annual gain since 2011. REDWOOD CITY, Calif., Feb. 23, 2021 (GLOBE NEWSWIRE) -- PubMatic, Inc. (Nasdaq: PUBM), a sell-side platform that delivers superior outcomes for digital advertising, today reported financial results for the fourth quarter and full year ending December 31, 2020. The number will likely be distorted by the huge slump in year-earlier figures at the outbreak of the pandemic. This represents a potential gain of $14.29 or about 26% more based on today’s price of $55.87. This is 29.7% above Exxon’s existing market cap of $236.5 billion. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: our dependency on the overall demand for advertising and the channels we rely on; our existing customers not expanding their usage of our platform, or our failure to attract new publishers and buyers; our ability to maintain and expand access to spend from buyers and valuable ad impressions from publishers; the rejection of the use of digital advertising by consumers through opt-in, opt-out or ad-blocking technologies or other means; our failure to innovate and develop new solutions that are adopted by publishers; the ongoing COVID-19 pandemic, including the resulting global economic uncertainty; limitations imposed on our collection, use or disclosure of data about advertisements; the lack of similar or better alternatives to the use of third-party cookies, mobile device IDs or other tracking technologies if such uses are restricted; any failure to scale our platform infrastructure to support anticipated growth and transaction volume; liabilities or fines due to publishers, buyers, and data providers not obtaining consents from consumers for us to process their personal data; any failure to comply with laws and regulations related to data privacy, data protection, information security, and consumer protection; and our ability to manage our growth. “Regulations are for better development, and ‘reining in’ is also a kind of love.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P. Delivery apps thrived during COVID-19, and they're now aggressively positioning themselves for life after the pandemic. That is over 30% above today’s price. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. The company reported 4Q diluted net income per share of $0.34, ahead of analysts’ estimate of $0.30. Consumer Brands Are Getting Squeezed by China Tensions. Current Period Revenue includes any upsells and is net of contraction or attrition, but excludes revenue from new publishers. Full-year revenue rose 31% to $148.7 million. price-to-earnings (P/E) ratio of 25.62 times (over the last 5 years) to Exxon’s EPS for this year ($2.87) produces a target price of $73.53. Our net dollar-based retention rate equals the Current Period Revenue divided by Prior Period Revenue. Headquartered in Redwood City, California, PubMatic operates 14 offices and eight data centers worldwide. (Bloomberg) -- U.K. bond investors eager for the government to sell more of its longest-dated debt appear to have gotten their way.A bond auction on Tuesday will include a 1 billion-pound ($1.37 billion) offering of gilts maturing in 2071 with more scheduled for sale in June. Additional information regarding these and other risks and uncertainties that could cause actual results to differ materially from our expectations is included under the caption “Risk Factors” in our Final Prospectus filed with the Securities and Exchange Commission on December 9, 2020. Solutions; Products; Resources; About … And the central bank is said to be leading discussions around establishing a joint venture with local technology giants to oversee the lucrative data they collect from hundreds of millions of consumers, which would be a significant escalation in regulators’ attempts to tighten their grip over the country’s internet sector.“The high fine puts the regulator in the media spotlight and sends a strong signal to the tech sector that such types of exclusionary conduct will no longer be tolerated,” said Angela Zhang, author of “Chinese Antitrust Exceptionalism” and director of the Centre for Chinese Law at the University of Hong Kong. What to Know. PubMatic's revenue jumped 64% to $56.2 million, … Market measures of inflation expectations, fueled by ultraloose Federal Reserve policy and immense amounts of fiscal stimulus, have stalled near multiyear highs and have yet to be backed consistently by actual data. Justin d'Anethan, sales manager at digital asset company Diginex in Hong Kong, said investors had turned their attention to stock markets and other cryptocurrencies in the past couple of weeks, leaving Bitcoin idling in the upper 50-thousand dollar levels. “Our usage-based business model is highly efficient and built on what we believe are long-term structural advantages, which provide key performance benefits to our customers and increased revenues and profits to us. BlackRock Has Launched Two Behemoth Sustainable ETFs. Net cash provided by operating activities was $24.3 million. In its statement, the State Administration for Market Regulation concluded Alibaba had used data and algorithms “to maintain and strengthen its own market power and obtain improper competitive advantage.” Its practice of imposing a “pick one from two” choice on merchants “shuts out and restricts competition” in the domestic online retail market, according to the statement.The firm will be required to implement “comprehensive rectifications,” including strengthening internal controls, upholding fair competition and protecting businesses on its platform and consumers’ rights, the regulator said. The penalty will not shake up its business model, either,” said Jet Deng, an antitrust lawyer at the Beijing office of law firm Dentons.Still, neither Zhang nor state media addressed lingering questions around the extent to which Beijing remains intent on reining in its internet and fintech giants, a broad campaign that’s wiped more than $250 billion off Alibaba’s valuation since October. So, on the one hand, this is much lower than my price target using historical metrics. Accordingly, we estimate the following: Although we provide guidance for Adjusted EBITDA, we are not able to provide guidance for net income, the most directly comparable GAAP measure. PubMatic brings the global infrastructure and scale that publishers need to power data-intensive, real time programmatic ad transactions in order to increase their revenues. As trade and investment have grown between China and Nigeria, so has lending, leading to an increased focus on the balance of the bilateral relationship. Analysts surveyed by Refinitiv expected revenue of $47.4 million in the quarter. Bitcoin (BTC) is up 116% from the year's low of $27,734 on Jan. 4. Some of these limitations are as follows: Because of these and other limitations, you should consider Adjusted EBITDA along with other GAAP-based financial performance measures, including net income and our GAAP financial results. Daily Journal Chairman Charlie Munger says a new investment in Chinese internet giant Alibaba is part of a move into stocks because returns on Treasury bills are so low. And for you super savers, here are other ways to save for retirement. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Those comments set in motion an unprecedented regulatory offensive, including scuttling Ant’s $35 billion initial public offering.It remains unclear whether the watchdog or other agencies might demand further action. For the same reason, we are unable to address the probable significance of the unavailable information. Therefore, at today’s price (April 9) of $55.87, the dividend yield is very healthy at 6.2%. Click here for webcast. The Company reported an earnings-per-share (EPS) profits of $0.34 beating analyst estimates by $0.32 by $0.02. --PubMatic, Inc., a sell-side platform that delivers superior outcomes for digital advertising, today reported financial results for the fourth quarter and full year ending December 31, 2020.. On that day PubMatic will host a conference call and webcast at 2:00 p.m. Pacific Time to discuss the company’s business and financial results. This means that XOM stock will continue to have a “strong” dividend yield of about 6.15%. Total cash, cash equivalents, and marketable securities of $101.0 million. Revenue in the full year of 2020 was $148.7 million, a 31% increase over $113.9 million in 2019; Net income was $26.6 million, or $0.46 per diluted share in 2020, an increase over net income of $6.6 million, or $0.04 per diluted share in 2019; Adjusted EBITDA was $50.3 million, a 116% increase over Adjusted EBTIDA of $23.3 million in 2019; and. Net income per share attributable to common stockholders: Weighted-average shares used to compute net income per share attributable to common stockholders: Adjustments to reconcile net income to net cash provided by operating activities: Impairment of internally developed software, Change in fair value of preferred stock warrant liability, Amortization of premiums on marketable securities. The company reported 4Q diluted net income per share of $0.34, ahead of analysts’ estimate of $0.30. PubMatic’s cloud infrastructure platform for digital advertising empowers app developers and publishers to increase monetization while enabling media buyers to drive return on investment by reaching and engaging their target audiences in brand-safe, premium environments across ad formats and devices. Answers to your COVID relief questions, Traders Opting for Cash and Carry Strategy as Bitcoin’s ‘Contango’ Widens, Delta Airlines to Report Loss in 2021, Unless There is Significant Recovery in Traffic: Cowen. PubMatic’s 4Q Earnings Beat Estimates Post-IPO; Shares Spike 12% After-Hours. My target price produces an expected return of 21.95% (i.e., 14.8% gain plus 6.15% yield). For example, if we divide the dividend per share of $3.48 by the average yield of 4.96%, the result is a target price of $70.16 per share. The section titled "Non-GAAP Financial Measures" below describes our usage of non-GAAP financial measures. Many U.S. banks have broken out above 2018 resistance in reaction to rising interest rates. The company said revenue in the fourth quarter of 2020 was $56.2 million, up 64% year-over-year. On Feb.23, 2021, Pubmatic released its fiscal fourth-quarter 2020 results for the quarter ending December 2020. PubMatic Q4 EPS $0.34 Beats $0.30 Estimate, Sales $56.20M Beat $47.54M Estimate PubMatic (NASDAQ:PUBM) reported quarterly earnings of $0.34 per share which beat the analyst consensus estimate of $0.30 by 13.33 percent. Minutes of a conference call with the Debt Management Office last month revealed investors asked for more of the bonds because there isn’t enough to go around. “For this, we are full of gratitude and respect.”It’s a sign of how odd China’s crackdown on the power of big tech has been compared with the rest of the world. These ratios are based on earnings and sales estimates provided by Seeking Alpha on their Earnings tab for Exxon Mobil stock. Adjusted EBITDA is widely used by investors and securities analysts to measure a company’s operating performance without regard to items such as stock-based compensation expense, depreciation and amortization, interest expense, provision for income taxes, and certain one-time items such as impairments of long-lived assets, that can vary substantially from company to company depending upon their financing, capital structures and the method by which assets were acquired; Our management uses Adjusted EBITDA in conjunction with GAAP financial measures for planning purposes, including the preparation of our annual operating budget, as a measure of operating performance and the effectiveness of our business strategies and in communications with our board of directors concerning our financial performance; and. Moreover, management said on the fourth-quarter 2020 conference call that cash flow from operations should cover the dividend payments this year. 02/24 11:25. PubMatic delivers superior revenue to publishers by being an SSP of choice for agencies and advertisers. The … Investor Tools The company reported quarterly sales of … Non-GAAP Financial MeasuresIn addition to our results determined in accordance with U.S. generally accepted accounting principles (GAAP), including, in particular operating income, net cash provided by operating activities, and net income, we believe that Adjusted EBITDA, a non-GAAP measure, is useful in evaluating our operating performance. PubMatic pops on earnings, revenue beat; strong outlook. We expect Adjusted EBITDA to be in the range of $8.0 million to $9.0 million, or 21% to 23% margin. This suggests they don’t want to be caught short of any bonds should investors want to buy from them.Also pushing the strong demand theme, oversubscription rates for bonds maturing in 50 years have been the highest on record since the end of last year.“With the U.K. market having most aggressively priced the re-opening story in Europe, even a mild re-assessment of the re-opening and vaccination story, should see gilts recapture some lost ground,” said Megan Muhic, a strategist at RBC Europe Limited.Next WeekEuro area bond issuance from Germany, Italy and the Netherlands is expected to total 12 billion euros next week according to Commerzbank AG; Danske Bank A/S flags that Ireland could sell a new 20-year bond through banks; Italy, Finland and Portugal pay redemptions of about 29 billion euros and coupons of over 2 billion eurosIn the U.K., the Debt Management Office will sell 1 billion pounds of its longest conventional gilt which matures in 2071 and 600 million pounds of a 30-year inflation-linked bond; the Bank of England will buy back 4.4 billion pounds of debt in three operationsData for the coming week in the euro area and Germany is thin and mostly backward-looking, with the exception of the ZEW survey numbers for April on TuesdayU.K. Other Ticker Details MCFE Company Name McAfee Corp Earnings Call Date 23-02-2021 Time (ET) 5:00 PM Fiscal Quarter Q4 Fiscal Year 2020 “Our record performance demonstrates PubMatic’s differentiated market position across the digital advertising ecosystem,” said Rajeev Goel, co-founder and CEO at PubMatic. We are executing well and growing organically in mobile, digital video, and over the top streaming and connected TV (OTT/CTV). Headquartered in Redwood City, California, PubMatic operates 14 offices and eight data centers worldwide. We expect Adjusted EBITDA to be in the range of $45.0 million to $49.0 million or 25% to 27% margin. Back to pubmatic.com; Investor Calendar. While that’s triple the previous high of almost $1 billion that U.S. chipmaker Qualcomm Inc. handed over in 2015, it’s far less than the maximum 10% allowed under Chinese law.The fine came with a plethora of “rectifications” that Alibaba will have to put in place -- such as curtailing the practice of forcing merchants to choose between Alibaba or a competing platform -- many of which the company had already pledged to establish.Read more: China Fines Alibaba Record $2.8 Billion After Monopoly ProbeAlibaba Chief Executive Officer Daniel Zhang on Saturday declared his company now ready to move on from its ordeal, while China’s Communist Party mouthpiece People’s Daily issued assurances that Beijing wasn’t trying to stifle the sector.The Hangzhou-based firm “has escaped possible outcomes such as a forced breakup or divestment of assets. Certain elements of the composition of GAAP net income, including stock-based compensation expenses, are not predictable, making it impractical for us to provide guidance on net income or to reconcile our Adjusted EBITDA guidance to net income without unreasonable efforts. Here's Why PubMatic Stock Popped Today ... View All Events Events. “It’s a stone that kills two birds.”For now, it appears investors are just glad it wasn’t worse. We believe that this non-GAAP financial measure is useful to investors for period to period comparisons of our business and in understanding and evaluating our operating results for the following reasons: Our use of this non-GAAP financial measures has limitations as an analytical tool, and you should not consider them in isolation or as a substitute for analysis of our financial results as reported under GAAP. Finance says that 25 analysts believe on average XOM stock is worth $61.18. We continue to focus on growing our market share via new publisher acquisition, existing customer growth, and buy-side spend consolidation.”. The launches, after a record number of billion-dollar disasters in 2020, show that sustainable investing is “mainstream,” particularly as countries and companies adopt net-zero carbon emissions targets in concordance with the Paris agreement on climate change, says Carolyn Weinberg, BlackRock’s head of product for its ETF operation, iShares. It’s not just bond positions at stake: Without follow-through from data, bets on Fed tightening as soon as late 2022 may fade, potentially sapping demand for the surprisingly resilient dollar.“We don’t have strong reflation-trade momentum at the moment because people are waiting for more data,” said Daniel Tenengauzer, head of markets strategy at Bank of New York Mellon Corp. “As the data comes in, we are probably going to see the reflation trade play out again more strongly” toward the middle of the year.Tenengauzer says every inflation reading counts from this point because “the longer inflation stays at 2.5%,” an annual CPI reading last seen before the pandemic took hold, “the more underwater you are from holding fixed income.”Ten-year Treasury yields rose Friday, while finishing below the day’s high, after the PPI report showed a 4.2% increase from March 2020. Since 2006, PubMatic has been expanding its owned and operated global infrastructure and continues to cultivate programmatic innovation. The big news from PubMatic came on Feb. 24 as it released its fourth-quarter earnings report. Expanded our exceptional team, adding 82 people globally and ending 2020 with 548 people. There’s also a view that expectations for growth, not inflation, may end up dominating the narrative for Treasuries later this year, through higher real yields.Inflation ‘Psychosis’Fed Chair Jerome Powell, who’s scheduled to appear on “60 Minutes” Sunday and will also speak Wednesday, has said any pickup in inflation will likely be temporary. The big news from PubMatic came on Feb. 24 as it released its fourth-quarter earnings report. “We delivered impressive year-over-year revenue growth of 64% in the fourth quarter driven by strength across a number of advertising verticals including eCommerce, Technology, Personal Finance and robust omnichannel video growth including OTT/CTV,” said Steve Pantelick, CFO at PubMatic. The 18.2 billion yuan penalty was based on just 4% of the internet giant’s 2019 domestic revenue, regulators said. Examples of forward-looking statements include, but are not limited to, statements we make regarding our ability to maintain our growth and profitability, our guidance relating to our revenue and Adjusted EBITDA, our ability to attract and retain publishers, our expectations concerning the advertising industry, and our ability to successfully navigate our business through the COVID-19 pandemic. Do this now. For example, TipRanks.com says that 18 analysts have an average price target of just $60.68. ET). Moreover, the dividend yield is 6.15%. In the fourth quarter of 2020, PubMatic’s net income was $18.8 million, an increase over $4.1 million recorded in the same period last year. The company will have to make adjustments but can now “start over,” Zhang wrote in a memo to Alibaba’s employees Saturday.“We believe market concerns over the anti-monopoly investigation on BABA are addressed by SAMR’s recent decision and penalties,” Jefferies analysts wrote in a research note entitled “A New Starting Point.”Indeed, The People’s Daily said in its commentary Saturday that the punishment was intended merely to “prevent the disorderly expansion of capital.”“It doesn’t mean denying the significant role of platform economy in overall economic and social development, and doesn’t signal a shift of attitude in terms of the country’s support to the platform economy,” the newspaper said. Here’s Why.

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