Up Fintech Hldg Ltd Stock Price, News & Analysis

UP Fintech Holding (TIGR) has announced the pricing of a public offering of 15,000,000 American Depositary Shares (ADSs) at $6.25 per ADS, with each ADS representing 15 Class A ordinary shares. Underwriters have a 20-day option to purchase up to 2,250,000 additional ADSs. The offering, expected to close on October 24, 2024, will generate approximately $90.0 million in net proceeds. The company plans to use the funds for strengthening its capital base and business development initiatives. Deutsche Bank AG, China International Capital , and US Tiger Securities are acting as joint bookrunners.

UP Fintech Holding (Nasdaq: TIGR), a leading online brokerage firm for global investors, has announced a proposed follow-on public offering of 15,000,000 American Depositary Shares (ADSs). Each ADS represents 15 Class A ordinary shares of the Company. The underwriters have an option to purchase up to 2,250,000 additional ADSs within 20 days from the prospectus supplement date.

The Company plans to use the net proceeds to strengthen its capital base and further business development initiatives. Deutsche Bank AG, China International Capital Hong Kong Securities , and US Tiger Securities, Inc. will act as joint bookrunners for the offering.

The offering will be made under an automatic shelf registration statement on Form F-3 filed with the SEC. A preliminary prospectus supplement and accompanying prospectus have been filed, with the final prospectus supplement to be filed later.

Yang Xu, Global Partner at Tiger Brokers, shared insights on Bitcoin ETFs at InnoBlock 2024. He highlighted how these ETFs provide safer access to cryptocurrencies and address custodian concerns. Xu noted increased institutional demand for Bitcoin ETFs, potentially contributing to market stability.

Tiger Brokers offers 24-hour Bitcoin ETF trading globally and provides direct digital asset trading access to Hong Kong users. The company upgraded its Type 1 licence in January to include virtual asset dealing services. In June, retail investors in Hong Kong gained access to trade virtual assets like BTC, ETH, AVAX, and LINK.

Tiger Brokers' institutional wealth platform, TradingFront, offers advanced order types for Bitcoin ETF investing, including TWAP and VWAP orders. Xu emphasized the need for stronger regulatory frameworks and investor protections to increase accessibility and legitimize the digital asset space.

UP Fintech Holding (NASDAQ: TIGR) reported record-high quarterly revenue of US$87.4 million for Q2 2024, up 10.8% QoQ and 32.4% YoY. The company added 60,600 new global accounts, bringing the total to 2.3 million. Funded accounts increased to 982,300, up 17% YoY. Total trading volume grew 62.5% YoY to US$105.9 billion. Total client assets reached an all-time high of US$38.2 billion, up 16.2% QoQ and 121.1% YoY. UP Fintech expanded its services in Singapore, Hong Kong, Australia, and New Zealand, launching new products like the BOSS Debit Card and Cash Boost trading account. The company also introduced virtual asset trading for retail investors in Hong Kong and upgraded its options trading features globally.

UP Fintech Holding (NASDAQ: TIGR) reported strong Q2 2024 financial results, with total revenues increasing 32.4% year-over-year to US$87.4 million. The company saw significant growth in key metrics:

- Trading volume up 62.5% YoY to US$105.9 billion
- Total account balance up 121.1% YoY to US$38.2 billion
- Funded accounts increased 16.8% YoY to 982,300

However, net income decreased to US$2.6 million from US$13.2 million in Q2 2023, primarily due to a US$13.2 million loss provision for a suspended Hong Kong stock pledge business. The company continued to expand its product offerings and corporate services, including underwriting 12 U.S. and Hong Kong IPOs in Q2.

UP Fintech Holding (NASDAQ: TIGR), a leading online brokerage firm for global investors, has announced it will release its second quarter 2024 financial results on August 30, 2024, before the U.S. market opens. The company will host an earnings conference call at 8:00 AM U.S. Eastern Time (8:00 PM Singapore/Hong Kong Time) on the same day.

Participants must preregister online to receive dial-in numbers for the call. The preregistration link is provided in the announcement. A live and archived webcast of the conference call will also be available on the company's investor relations website.

UP Fintech (NASDAQ: TIGR) reported its first-quarter 2024 financial results, showcasing significant growth. Revenue hit a three-year high of $78.9 million, a 19% YoY increase, and net profit rose by 42% YoY to $14.7 million. The company added 51,700 new global accounts, reaching 2.25 million total accounts, with 28,800 new funded accounts. Trading volume surged by 27.4% YoY to $85.4 billion, and client assets hit a record $32.9 billion, up 103.8% YoY. Additionally, UP Fintech launched innovative products in Singapore and strengthened its market presence in Hong Kong. The company saw a notable asset inflow and client growth in Australia and New Zealand.

UP Fintech Holding (NASDAQ: TIGR) reported its unaudited financial results for the first quarter of 2024. Total revenue was $78.9 million, a 19% increase year-over-year. GAAP net income was $12.3 million, compared to a net loss of $1.8 million in the previous quarter, while Non-GAAP net income was $14.7 million, marking a 42.4% increase year-over-year.

The company added 28,800 new funded accounts, bringing the total to 933,400. Net asset inflows were $5.3 billion, with the total account balance reaching $32.9 billion. Additionally, UP Fintech launched new products in Singapore and Hong Kong and obtained a Type 9 license from Hong Kong's SFC.

Operating costs increased by 10.6% year-over-year to $50.8 million. Interest expense rose by 75.9% to $14.8 million, primarily due to higher interest rates. Cash and cash equivalents stood at $363.9 million as of March 31, 2024.

UP Fintech Holding (NASDAQ: TIGR), an online brokerage firm, will release its Q1 2024 financial results on June 5, 2024, before the U.S. market opens.

An earnings conference call will be held the same day at 8:00 AM U.S. Eastern Time (8:00 PM Singapore/Hong Kong Time).

Participants must preregister online to receive dial-in numbers and personal PINs. The conference call will be available live and archived on the company's investor relations website.