7.1% and 900%—two figures in the same sector: On October 13, one memory-chip maker fell 7.1% intraday, while another, a giant in the same country, reported quarterly operating profit up about 900% year over year. Earnings and share prices gave opposite readings on the same day.
Two kinds of money supported this rally: about $41 billion in buybacks by the two giants, and foreign capital flowing in. In October, both turned at once: foreign investors recorded net sales of more than $6 billion for the month, their ownership stake in one of the companies fell to its lowest level since 2009, and the buybacks were also winding down. What followed was algorithmic selling. The country’s exchange activated its program-trading halt mechanism that day, and the Korea Composite Stock Price Index fell 5% intraday.
Along the computing-power and storage chain, four tokens earn money in different ways: BNBUSDT earns from the platform side and is not part of either of these two sets of books; RENDERUSDT rents out rendering compute on a pay-per-use basis; IOUSDT rents out graphics cards by the hour; FILUSDT rents out storage for the duration of a contract. Chipmakers, by contrast, collect revenue in bulk through long-term agreements—their largest single customer accounted for 13.35% of revenue in the first half of the year, and their top two customers together accounted for about 26.4%. The day’s ranges were 722.2–736.6, 2.016–2.132, 0.1552–0.1620, and 1.072–1.116; their positions within the seven-day ranges were 27.1%, 70.4%, 35.7%, and 41.8%. Daily trading volume ranged from $2.72 million to $45,000.
I worked backward from “next quarter’s money”: this rally’s pricing rests on long-term agreements and capacity pre-sales, with capacity already booked through the year after next. What is in question is the buyers’ financing—two U.S. chipmakers warned the following day that demand still exceeds supply, and that funding may be the bottleneck. The four on-chain tokens, by contrast, are judged only by their trading volume on the day.
The 7.1% decline was recorded on the buying side; earnings did not move with it. The two sources of support changed in character. If earnings also weaken, while outflows from buybacks and foreign investors continue, that would mean this decline is hitting fundamentals, and the earlier interpretation would need to be completely revised. If earnings hold steady while both sources of money continue to retreat, hold off on that conclusion for now. On a day of record earnings, the share price is keeping a separate set of books; these four Binance spot-market quote lines turn over once a day, and BNB, the platform token, is there too—checking the spot page is enough. This is a record of opinion, not investment advice.$OSMO
$RSR
$ONDO
#sk海力士股价下跌7.1%
Two kinds of money supported this rally: about $41 billion in buybacks by the two giants, and foreign capital flowing in. In October, both turned at once: foreign investors recorded net sales of more than $6 billion for the month, their ownership stake in one of the companies fell to its lowest level since 2009, and the buybacks were also winding down. What followed was algorithmic selling. The country’s exchange activated its program-trading halt mechanism that day, and the Korea Composite Stock Price Index fell 5% intraday.
Along the computing-power and storage chain, four tokens earn money in different ways: BNBUSDT earns from the platform side and is not part of either of these two sets of books; RENDERUSDT rents out rendering compute on a pay-per-use basis; IOUSDT rents out graphics cards by the hour; FILUSDT rents out storage for the duration of a contract. Chipmakers, by contrast, collect revenue in bulk through long-term agreements—their largest single customer accounted for 13.35% of revenue in the first half of the year, and their top two customers together accounted for about 26.4%. The day’s ranges were 722.2–736.6, 2.016–2.132, 0.1552–0.1620, and 1.072–1.116; their positions within the seven-day ranges were 27.1%, 70.4%, 35.7%, and 41.8%. Daily trading volume ranged from $2.72 million to $45,000.
I worked backward from “next quarter’s money”: this rally’s pricing rests on long-term agreements and capacity pre-sales, with capacity already booked through the year after next. What is in question is the buyers’ financing—two U.S. chipmakers warned the following day that demand still exceeds supply, and that funding may be the bottleneck. The four on-chain tokens, by contrast, are judged only by their trading volume on the day.
The 7.1% decline was recorded on the buying side; earnings did not move with it. The two sources of support changed in character. If earnings also weaken, while outflows from buybacks and foreign investors continue, that would mean this decline is hitting fundamentals, and the earlier interpretation would need to be completely revised. If earnings hold steady while both sources of money continue to retreat, hold off on that conclusion for now. On a day of record earnings, the share price is keeping a separate set of books; these four Binance spot-market quote lines turn over once a day, and BNB, the platform token, is there too—checking the spot page is enough. This is a record of opinion, not investment advice.$OSMO
$RSR
$ONDO
#sk海力士股价下跌7.1%