Movement Alert|Futu Holdings Rises 5.94% in Regular Trading, Regulatory Clarity and Bullish Analyst Target Boost Sentiment

Market Focus06-10 21:47

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.)

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.

Comments

We need your insight to fill this gap
Leave a comment