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Tag: JFIN

  • Share Price Of Chinese Fintech company, Jiayin Group (JFIN) surged by over 77% today. Here’s what happened

    Share Price Of Chinese Fintech company, Jiayin Group (JFIN) surged by over 77% today. Here’s what happened

    Stock price of Jiayin Group (NASDAQ:JFIN) soared by approximately 77% today due to NFT speculation. Shares prices have increaseda staggering 226% in five days as investors predict that these companies will increase in valuation due potential NFT investments which relates with their business model.

    NFTs allows you to buy and sell a unit of data or digital files such as art, video, and audio and keep track of their ownership using blockchain, which represents the digital ledger technology, where each NFT can depict a unique digital item.

    Certain NFTs have already been sold for Millions of dollars, which has further increased investor interest. JFIN has not directly been involved in the NFT space, however investors expect their current business model to have immense potential to shift towards NFTs, increasing their stock price significantly.However no official statement has been reported by the company yet.

    Jiayin Group Inc before NFT speculation

    JFIN Sponsored ADR and stocks surged 26.9% finishing the last trading session at approximately $5.42. The rise came on an impressive volume with a higher number of stocks being traded vs an ordinary session.

    Coronavirus has also provided a solid boost to the Fintech sector. Increasing demands for cashless transactions as well as a soaring number of online banking users has further strengthened JFIN stance in the financial technology world. Surge in the stock price can also be associated with increasing optimism over Jiayin Group’s expansion capability in China’s ever-growing fintech market.

    Conclusion

    Jiayin Group (NASDAQ:JFIN) operates in the lucrative field of financial technology connecting individual debtors to individual creditors. Recent buzz on social media has suggested thatthe company is expected to get into the NFT space, however the official stance of the company is still unknown.  JFIN’s long-term revenue growth and rising stock price has proven to be a success and an expected investment in NFT’s has peaked investor expectation for the company.

  • Jiayin Group Inc. (JFIN) stock drops by 7% today: Things you need to know.

    Jiayin Group Inc. (JFIN) stock drops by 7% today: Things you need to know.

    Shares of Jiayin Group Inc. (JFIN) were down on Friday after soaring in yesterday’s trading amid NFTs speculations. JFIN stock price was down by 7.23% to drop at $8.73 a share at the time of this writing as profit takers stepped in. At the previous closing, the JFIN stock soared by 73.62% to reach a $9.41 per share price. Let’s understand more of it.

    What’s happening?

    Jiayin Group Inc. (JFIN) is an online finance marketplace connecting both individual investors and borrowers in China. The falling JFIN stock price has nothing to do with any particular event by the Jiayin Group.There was no news by the JFIN, no press release, no earnings report today, no analyst downgrades or shrank targeted per-share price, no filings by any law firm on behalf of JFIN shareholders to justify the reason behind this bearish sentiment.On the prior day, JFIN stock was significantly up due to speculations related to non-fungible tokens(NFTs). That bullish sentiment resulted in the trading of more than 100 million shares of JFIN stock till 1 PM est. The average volume of JFIN stock is approximately 290,000 shares.

    On March 8, 2021, Jiayin stock appointed Marcum Bernstein & Pinchuk LLP as an independent registered public accounting firm of the Jiayin. Previously Deloitte Touche Tohmatsu Certified Public Accountants LLP was serving the JFIN since 2017. Back in February 2021, Mr. Jiong Feng stepped back from his responsibilities due to some personal reasons. He was serving as Chief Technology Officer since 2013. Mr. Chongxian took the place of Mr. Jiong to ensure the continuity of Jiayin’s operations.

    Financial View of JFIN stock.

    JFIN stock has not released the fourth quarter and fiscal year 2020 financial results. In the third quarter JFIN stock recorded RMB401.3 million net revenue which was 21.4% less than the same quarter of 2019. Operating income was surged by 79.6% to reach RMB150.0 million as compared to the third quarter of 2019.Net income of JFIN was totaled RMB88.4 million with an 8.1% increase as compared to the same tenure of 2019.

    Conclusion:

    After soaring high in yesterday’s trading, JFIN stock has now become red today. The stock market is unpredictable, and anything can happen with or without certain. Hence from an investment perspective, it’s a good practice to deeply analyze the company’s core business, balance sheet, earnings results, and network to make the right decision at right time.