20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Futu Holdings Ltd (NASDAQ:FUTU) shares are trading higher by 6.4% to $42.38 Friday afternoon. Shares of several U.S.-listed Chinese stocks are trading higher amid strength in Alibaba Group Holding Ltd - ADR (NYSE:BABA), which gained after China ended its regulatory overhaul on fintech affiliate Ant Group by imposing a penalty of 7.12 billion yuan.
What Happened?
According to Reuters, Ant Group has paid a fine for breaching consumer protection and corporate governance laws. This significant penalty is expected to facilitate the acquisition of a financial holding company license, support growth initiatives and revive its listing plans.
See Also: Why Riot Platforms Hit A New 52-Week High Today
The People's Bank of China (PBOC), overseeing Ant's restructuring since the cancellation of its $37 billion IPO in 2020, announced the penalty as part of its efforts. The fine specifically addresses Ant's alleged violations related to "disorderly expansion of capital" and the financial risks associated with its previously unrestrained operations.
What Else?
Ant Group, formerly known as Ant Financial Services Group, is a financial technology company based in China. It was established in 2014 as an affiliate of the Alibaba Group, initially serving as the financial arm of the e-commerce giant.
Ant Group provides a wide range of financial services. Its flagship product, Alipay, is one of the world's largest mobile payment platforms.
According to data from Benzinga Pro, Futu Holdings has a 52-week high of $72.20 and a 52-week low of $28.00.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!