My Winning Chinese Stock - Tiger Brokers
πππHurray! Chinese stocks surged in late Hong Kong trading on Monday in the latest Chinese government announcement promising action to boost its economy.
Many of my Chinese ETFs and stocks rose. The best performing one is UP Fintech Holding better known as Tiger Brokers.
$Tiger Brokers(TIGR)$ has jumped 26% on Monday trading to USD 7.77 and another 3.3% to USD 8.03 in after hours trading. Tiger Brokers is now up 88% year todate and has risen 78% in 2023.
On November 12, Tiger Brokers reported an excellent Q3 24 Earnings. Total revenue reached USD 101.1 million, a historical high and representing an increase of 15.6% and a year over year growth of 44.1%. Net income reached USD 17.8 million, representing a quarter over quarter growth of 584.6% and year over year growth of 34%. Non GAAP net income amounted to USD 20.1 million, a quarter over quarter increase of 286.5% and a year over year increase of 25.6%.
In Q3 24, Tiger Brokers added 50,500 customers with deposits. This is more than doubled from a year ago. Total number of customers with deposits reached 1,032,800. Total account balance increased 6.7% quarter over quarter and 115% year over year to USD 40.8 billion, setting another historic high.
Tiger Brokers continues to add new products on its platform to enhance user experience which it believes is the key to its long term success.
In Singapore, Tiger BOSS Debit card was launched as well as Tiger Vault which is Tiger Brokers Wealth Management product. This enables users to manage their portfolio more conveniently, integrating daily spending, wealth management and stock investments.
Another new product that was launched recently in Singapore was the Cash Boost Account in which customers were given a credit limit which can be used to purchase stocks.
Tiger Brokers celebrated its 10th Anniversary this year with over 10 million users globally. In November Tiger Brokers was recognised as the Number 1 company in the "Wealth Tech" category on Fortune's inaugural Asia Fintech Innovators of 2024 list. This list is specially curated by Fortune's editors which highlights 60 of Asia 's most dynamic financial services companies.
I have invested in Tiger Brokers about 4 months ago and I am so happy with its excellent performance. I know first hand that Tiger Brokers is continuing to innovate and develop new products along the way. One of its best innovations is TigerGPT which Tiger's very own AI chatbot. It has been a tremendous help to me when I am researching new stocks.
With the tailwind of more stimulus package from the Chinese authorities, I believe that $Tiger Brokers(TIGR)$ is on an upward trajectory towards USD 10.00. The Tiger Brokers now compared to 10 years ago is a much stronger company with an expanding customer base due to its low cost brokerage fees and great products.
At the last closing price of USD 8.03, I believe that Tiger Brokers is undervalued and has lots of exponential growth ahead.
Go Long Go Strong Go Tiger Brokers! ππππππππππ°π°π°
@Daily_Discussion @TigerStars @Tiger_comments @Tiger_SG @CaptainTiger @MillionaireTiger
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Thank you for sharing. The performance is good and the valuation is not high
conguration! bro, thatβs really impressive to earn so much from Chinese stock