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Is UP Fintech a Buy Under $10? By StockNews


© Reuters. Is UP Fintech a buy under $10?

Shares brokerage company UP Fintech (TIGR) have been advancing in price thanks to the company’s enhanced platform capabilities. However, given that TIGR reported disappointing earnings in its fiscal second quarter, let’s evaluate if it is wise to add the stock to one’s portfolio now. Read on.Online brokerage firm UP Fintech Holding Limited (TIGR), which is headquartered in the Chaoyang District in China, is known as the ‘Robinhood (NASDAQ:) of China,’ enabling investors to trade on multiple exchanges worldwide. It reported strong revenues in its second quarter. More than 60% of the company’s new funds were generated from foreign markets.

However, the stock has lost 57.4% in price over the past three months to close yesterday’s trading session at $7.91. It trades at $7.91 today, just 79.4% off its 52-week highest of $38.50. So, TIGR’s near-term prospects look bleak.

TIGR might also face regulatory risk due to China’s recent personal data privacy legislation, which took effect on November 1.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.