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Should You Buy the Dip in Futu Holdings? -Breaking

by Mike Robinson

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© Reuters. Are You a Futu Holdings Investor?

Brokerage company Futu Holdings (NASDAQ:) posted impressive financial results for the second quarter. But, regulatory hurdles are likely to be faced by the company. So, let’s evaluate if it is wise to buy the dip in the stock now. Read on.Online brokerage firm Futu Holdings Limited (FUTU), which is headquartered in Admiralty, Hong Kong, is known as the ‘Robinhood (NASDAQ:) of China,’ enabling investors to trade on multiple exchanges worldwide. Strong international growth was achieved by the company, which reported solid financial results for its second quarter.

The company’s revenue increased by 129.3% over the year to $203.10million and its user base reached 15.5million. This is an increase of 66.8% annually.

However, the stock has lost 25.2% in price over the past month and 46.7% over the past six months to close Friday’s trading session at $71.80. It is trading at 64.8% under its 52-week peak of $204.25, reached on February 10, 2021. Investors appear concerned about the company’s potential regulatory risks with China’s new personal data privacy law taking effect on November 1. So, the company’s near-term prospects look uncertain.

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