To The Moon

🌟🌟🌟UP Fintech better known as  $Tiger Brokers(TIGR)$ is scheduled to report its Q2 24 earnings on August 30.   As Tiger Brokers is my favourite online broker, I am super excited to find out how it has progressed since its excellent Q1 24 earnings report.

In Q1 24, Tiger Brokers reported total revenue of USD 78.9 million, marking its highest quarterly revenue in the past 3 years, with a 12.8% sequential increase and 19% growth year over year.  This growth was driven by an improved revenue structure and enhanced operating efficiency, leading to a GAAP net income of USD 12.3 million, a significant 55% increase year over year.  In addition to that, the non GAAP net income rose to USD 14.7 million, up 42% from the previous year, reflecting a strong recovery in profitability. 

Tiger Brokers' brilliant strategy of leveraging fixed costs through a growing user base and increased average revenue per user, is paying off, thus contributing to sustainable profitability. 

Tiger Brokers added 28,800 new funded accounts in Q1 2024 with total client assets reaching USD 32.9 billion, a 7% sequential increase and a remarkable 104% year over year growth.  This growth was largely driven by strong net assets inflows, especially from Singaporean and institutional users. 

Tiger Brokers has been expanding its product offerings and improving their customer experiences with new innovations like Tiger BOSS Debit Card in Singapore.  The Tiger BOSS  Debit Card has attractive incentives for users that allow them to earn fractional shares for every dollar they spend. 

Tiger Brokers have also launched Cash Boost Account in April for its Singapore users.  This enables local users to do Contra Trading with instant trading limit of up to SGD 20,000 and no initial deposit required.  In fact Tiger Brokers is the first Fintech Broker in Singapore to offer such services. 

 In addition to the above new products, there are also new trading features such as overnight trading in the Asia Pacific region and cryptocurrency services launched in Hong Kong, further enhancing its appeal to a broader range of investors.   Tiger Brokers have introduced the industry first AI investment TigerGPT. 

Tiger Brokers have also underwritten a total of 5 US and Hong Kong IPOs in Q1 24.  Tiger Brokers is on track to meet its target of 150,000 new funded accounts for 2024 with an increase of 28,800 new funded accounts, bringing the total number of funded accounts at the end of Q1 24 to 933,400, a 15% increase compared to previous year quarter. 

Performance wise Tiger Brokers is up 1.58% in the past 5 days but down 6.5% year todate.  In 2023, Tiger Brokers has risen 6.9%.

Wall Street Analysts are Bullish on Tiger Brokers  with Buy rating, an average Target price of USD 5.08, an upside potential of 31%.

I believe that $Tiger Brokers(TIGR)$ is undervalued and oversold at its last closing price of USD 3.86 as it has lots of exponential growth ahead.  With its innovative products and growing user base globally, Tiger Brokers has tremendous potential to become a Multi Bagger stock in the future and I certainly want to be part of it! 

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