Up Fintech (NASDAQ:TIGR) stock is on the rise Tuesday as more investors take interest in the holding company behind the “Robinhood of China.”
Tiger Brokers is a stock trading service that operates in China under Up Fintech. Recent news today of Kerrisdale Capital going long on it have investors keeping a closer eye on the company.
This has resulted in increased trading of TIGR stock today. As of this writing, more than 9 million shares of the stock have changed hands. To put that in perspective, the stock’s daily average trading volume is about 4.5 million shares.
Keeping all of this in mind, let’s take a closer look at TIGR stock and what all the hubbub is about Tiger Brokers.
- Tiger Brokers is comparable to Robinhood in that both companies offer trading services with easy entry.
- The difference is that investing in China isn’t as saturated as the U.S. and there’s still plenty of room for growth.
- This has Tiger Brokers appealing to younger investors in China that want to invest with 1 million customer accounts.
- It also allows investors to join with no minimum requirements.
- Plus it promotes active communication between investors and offers wealth management service as well.
- The trading service has also seen explosive growth lately and even turned a profit last year.
- Up Fintech noted in an earnings report that the service brought in a net income of 3.8 million for its September 2020 quarter.
- That’s a massive improvement over its net loss of $1.3 million from the same period of the year prior.
TIGR stock was up 4.6% as of Tuesday morning and is up 125.8% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.