STOCKS TELEGRAPH

Tag: TIGR STOCK PRICE

  • Why is UP Fintech Holding Limited (TIGR) stock dropping today?

    Shares of the UP Fintech Holding Limited (TIGR) stock were dropping today in the pre-market trading session despite the absence of any specific news related to it. TIGR stock price saw a downtrend of 8.89% to drop at $15.38 a share as of this writing. The stock was also gloomy at the previous trading session and went down by 6.59% at closing. Let’s take a look at this stock in detail.

    What’s Happening?

    UP Fintech Holding Limited (TIGR) stock is an online brokerage service provider that mainly focuses on Chinese investors. The stock is dropping for the second consecutive day. There seems to be no major culprit behind the falling stock price of TIGR stock in today’s date. No press release or earnings report has been released in recent days to justify the bearish sentiment. However, on July 14, 2021, Goldman raised the price target for TIGR stock to “a sell”.

    TIGR Stock Subsidiary News:

    About a month ago, UP Fintech’s Singapore subsidiary Tiger Brokers (Singapore) Pte. Ltd (TBSPL) did receive approval-in-principle related to the trading of securities and clearing members in Singapore. TBSPL was admitted as a Clearing Member of The Central Depository (Pte) Limited in connection with approval. Furthermore, it was also approved as the trading member by Singapore Exchange Securities Trading Limited and Singapore Exchange Derivatives Trading Limited. The approval paved the way for TBSPL to strengthen its position in Singapore.

    TIGR Stock Follow On Public Offering:

    On June 11, 2021, UP Fintech stock did announce the closing of its previously announced public offering of 6.5 million American Depository Shares(ADSs). Each ADS represented 15 class A ordinary shares of common stock and the offering price was US$24.50 per ADS. The underwriters were granted a 30-day option to buy 975,000 additional ADSs of the TIGR stock under the same public offering price. This option of buying additional shares had been fully exercised by underwriters.

    The net proceeds resulted from this offering were intended to use in the expansion of TIGR’s customer base along with increasing customer engagement via its services. Moreover, part of the proceeds is specified for development in products, services, and technology areas. The TIGR stock also used these proceeds to expand its international presence.

    Conclusion:

    TIGR stock is dropping in the stock market despite no obvious reason or specific news related to it. The next earnings report is expected in the mid of August. It is to be noted that this stock’s full-year 2020 revenue was 136.1% higher than the full-year revenue of 2019.

  • UP Fintech Holding Limited (TIGR) stock surged in the current trading session; find out why

    UP Fintech Holding Limited (TIGR) stock surged in the current trading session; find out why

    In the current trading session, UP Fintech Holding Limited (TIGR) stock surged by 10.75% to the price of $20.30 at the time of writing. TIGR stock previously closed the session at $18.33. The TIGR stock volume traded today about 5.96 million shares. While the average day trading volume for the past 3 months has been 10.10 million. This shows that the number of hands exchanged in today’s trading session were less compared to the average.

    In the past year, TIGR stock has surged by 534.26%. However, in the past week, the stock dropped by-3.12%. In the past three and six months, the shares have has lost -0.43%, while gaining 288.35% respectively. Furthermore, UP Fintech Holding Limited (TIGR) currently has a market value of $2.56 billion and has 141.33 million outstanding shares.

    Tiger Brokers have transformed retail brokerage to online brokerage

    Tiger Brokers is a leading online brokerage firm that specifically focuses on the serving of global investors with stock trading brokerage services. It operates its services in major markets of the US, Hong Kong, UK, and other markets. The company has shifted to online platform from retail brokerage firm, in order to innovatively approach the brokerage business through the new era of digitization and ease of access at the touch of your phone. The online brokerage now covers not only brokerage but also ESOP, wealth management and investment banking.

    TIGR stock worked together with Aurora Mobile to expand its online brokerage capabilities while strengthening the TIGR APP’s core and functions. Aurora Mobile is China’s leading mobile developer service provider and suits to be the partner for TIGR since it focuses on adapting to the needs of the developers and has provided 1.65 million APPs with software development kits (SDK). Aurora Mobile will utilize its Artificial Intelligence based technology and developer expertise to TIGR’s vision of providing smooth and enhanced push notification services and deep-learning based analytical capabilities and data processing.

    For the year 2020, TIGR had its revenue doubled for 3 consecutive quarters which made it the fastest growing stock broker in the United States and Hong Kong. As of October 2020, the company has surpassed the milestone of 1 million accounts on its brokerage platform.

    Announcement of becoming a new distributor for OTC equities

    On 7th April 2021, Tiger Brokers had been announced as a new distributor by the OTC Markets Group Inc. for the Real-Time Level 2+ Quotes.

    This was a deal-maker step for TIGR stock as now its clients have access to the QTCQX®, QTCB® and Pink® market securities’ real-time depth of book pricing. Leveraging the data on OTC equity securities makes the roster of TIGER online brokerage platform more expansive and allows diverse assistance for trading/decision making for equity investments.

    The real-time data and insights makes it more attractive for investors to join the TIGR platform as it provides now an increased options of investment for subscribers and encourages participation in financial market through informed decision making guidance.