Why UP Fintech Holding Limited Shares Are Trading Lower Today

Loading...
Loading...

Shares of UP Fintech holding Limited TIGR are trading lower after the company reported first-quarter earnings results.

The company reported total revenues decreased 35.2% year-over-year to $52.6 million, primarily driven by a slowdown in trading commission and underwriting revenue, while interest income stayed flat thanks to the gradual buildup of self-clearing and securities lending business in the U.S.

Mr. Wu Tianhua, CEO and Director of UP Fintech stated, "The macro environment was more difficult in the first quarter versus a year ago, as investors were wary of geopolitical conflicts, high inflation in the U.S and Federal Reserve tightening."

UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors.

The stock was trading about 18.1% lower at $4.18 per share on Friday at the time of publication.

Market News and Data brought to you by Benzinga APIs
Posted In: Penny StocksSmall CapMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...