Likes Received
Posts
$快手-W.HK作为纯港股，短视频第二龙头，在近两年吃了不少流量红利，以致于上市时市场给出极高溢价。海豚君则稍显冷静，上市初乐观下只看到 1200 亿美金估值，因此后续相对溢价较高期间，海豚君一直未做投资建议。
1、由于一季报主要支柱秀场直播业务大幅拉垮，行业几近见顶，后续对整体业绩的支撑将大打折扣。其次今年以来，叠加视频号发力，虽然快手在积极买量，但用户增长仍然逊色于抖音，双方差距在年中逐渐拉大。市场对其后续的成长开始产生质疑，近一个季度来股价持续调整。
2、目前快手价格已基本跌穿海豚君的最新估值区间，快手的流量盘子仍然庞大，与抖音的用户群体重合度也并没有想象中那么高，海豚君认为也不可对快手太过悲观，在未有针对性的监管政策下，中性预期下快手估值在 780 亿美金。
The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Like
