Up Fintech Hldg Ltd Stock Price, News & Analysis

UP Fintech Holding Limited (Nasdaq: TIGR) announced that its Singapore subsidiary, Tiger Brokers (Singapore) Pte. Ltd. (TBSPL), has received approval as a Trading Member of Singapore Exchange Securities Trading Limited (SGX-ST) and as a Clearing Member of The Central Depository (Pte) Limited (CDP). This approval aims to enhance user experience and strengthen TBSPL's market presence in Singapore. UP Fintech emphasizes its commitment to providing superior services and innovative trading solutions to global investors.

UP Fintech Holding Limited (Nasdaq: TIGR) has successfully completed the acquisition of Ocean Joy Securities Limited, a firm licensed by the Hong Kong Securities and Futures Commission for regulated activities. This acquisition enables UP Fintech to commence its brokerage operations in Hong Kong, enhancing its market presence. The company aims to leverage its advanced technology and mobile-first strategy to improve customer service and attract new clients while providing diverse financial instruments across multiple exchanges globally.

UP Fintech Holding Limited (Nasdaq: TIGR) announced that its Singapore subsidiary, Tiger Brokers (Singapore) Pte. Ltd., has been approved as a CDP Depository Agent. This approval aims to enhance client services and improve the user experience in Singapore. The company is recognized for its mobile and online trading platform, offering a range of brokerage services including trade execution and investor education.

UP Fintech Holding Limited (Nasdaq: TIGR) has received approval from the Hong Kong Securities and Futures Commission to acquire Ocean Joy Securities Limited. This acquisition will enable UP Fintech to commence operations in Hong Kong's brokerage market. The firm is focused on providing comprehensive trading services and innovative solutions for global investors on its proprietary trading platform. The Company aims to enhance market presence and expand its customer base through this strategic move.

Interactive Brokers Group, Inc. (Nasdaq: IBKR) reported diluted earnings per share of $0.43 for Q3 2021, down from $0.58 in Q3 2020. Adjusted diluted EPS rose to $0.78 from $0.53. Net revenues totaled $464 million compared to $548 million in the prior year, while adjusted net revenues were $650 million, up from $518 million. The company declared a quarterly dividend of $0.10 per share. Customer accounts and equity increased by 57% and 52% respectively, with total DARTs rising 24%.

StackHabit, an automated wealth creation platform and SEC Registered Investment Advisor, is now available to residents of all 50 US states as of October 5, 2021. Founded in March 2021 by Cullen Breen and Ben Buchanan, StackHabit aims to democratize high-quality investing through concentrated portfolios primarily in equities. The platform allows clients to set up investment or retirement accounts based on their risk profile with no fees for buying or selling stocks. StackHabit collaborates with Tradingfront (NASDAQ: TIGR) for automation and custodies assets with Interactive Brokers (NASDAQ: IBKR).

UP Fintech Holding Limited (Nasdaq: TIGR) reported US$60.2 million in revenues for Q2 2021, up from US$30.3 million in Q2 2020. The number of funded accounts reached 529,100, with over 60% from international markets. The total account balance surged 188.9% year-over-year to US$23.9 billion. The company also gained approval to be a member of Singapore Exchange and continued to grow its ESOP business, adding 51 new clients. CEO Wu Tianhua highlighted a strong outlook driven by technological advancements and client retention.

UP Fintech Holding Limited (NASDAQ: TIGR) announced its Q2 2021 financial results, revealing total revenues of US$60.2 million, a 98.7% year-over-year increase. Despite achieving substantial growth, the company reported a net loss of US$21.5 million, down from a net income of US$4.4 million in the same period last year. The total account balance surged to US$23.9 billion, marking an 188.9% increase compared to last year. UP Fintech added 153,100 funded accounts, a growth of 353.5% year-over-year, predominantly from international markets.

UP Fintech Holding Limited (NASDAQ: TIGR) will report its financial results for Q2 ended June 30, 2021, before U.S. market opens on September 10, 2021. An earnings call will follow at 8:00 AM ET. Due to COVID-19, participants must preregister online to receive dial-in numbers for the call. A telephone replay will be available until September 24, 2021. UP Fintech provides an innovative trading platform for global investors, emphasizing a mobile-first approach to enhance user experience and attract new customers.