On June 10, Futu Holdings rose 5.94% in regular trading, trading at $98.52/share, with trading volume of approximately $75.07 million.
On the news front, a recent analyst report initiated coverage with a Buy rating and a 12-month target price of $146.00, representing approximately 18.6% upside, citing Futu's technological advantages, expanding global footprint, and attractive valuation at a forward P/E of 22.6x relative to peers such as Robinhood. Meanwhile, regulatory overhang has substantially cleared after all three cross-border brokers formally announced compliance timelines, with Futu confirming suspension of mainland China buy-side trading and fund inflows effective June 12. Management reiterated its full-year 800,000 new client acquisition guidance remains unaffected, and disclosed that mainland China accounts now represent only 13% of total funded accounts, down from 55% in early 2021.
Within the Investment Banking & Brokerage sector, Robinhood up 7.92%, Goldman Sachs up 0.27%, Charles Schwab up 0.05%, Interactive Brokers up 0.58%, Morgan Stanley down 0.53%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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