To The Moon

🌟🌟🌟UP Fintech Holding better known as $Tiger Brokers(TIGR)$ is up a huge  24% in the past 5 days since the Chinese authorities released a blitz of stimulus measures and interest rate cuts following the Feds' jumbo rate cut of 0.50% recently.

Is it time to buy Tiger Brokers?

Let's look at its Q2 24 financial results.  According to Wu Tianhua, Chairman and CEO of Tiger Brokers, trading volume increased 23.9% quarter over quarter and 62.5% year over year to USD 105.9 billion.  This was due to a more active market environment and Tiger Brokers' increase in product offerings.

Revenue for the quarter was USD 87.4 million, an all time high, an increase of 10.8% quarter on quarter and a year over year increase of 32.4%.  Tiger Brokers' GAAP net income and non GAAP income were USD 2.6 million and USD 5.2 million respectively.

In Q2 24, 48,900 new funded accounts were added, bringing Tiger Brokers total number of funded accounts to 982,300, a 16.8% increase compared to previous year quarter.  As of early August, the total number of funded accounts now exceeded the 1 million milestone.

Client assets inflow remained strong, with a net asset inflow of USD 1.7 billion in Q2 24.  This was fueled by a USD 3.6 billion market gain, leading the total account balance to rise by 16.2% quarter over quarter and 121% year over year to USD 38.2 billion.  The rapid expansion of Tiger Brokers' client base and the record setting of total clients assets over the past 3 quarters will position it for sustained long term growth.

As of June 30 2024, the company's cash and cash equivalent, term deposits were USD 394.8 million compared to USD 327.7 million as of December 31 2023.

Tiger Brokers is continuing to invest in Research and Development to better serve its customers and improve operating efficiency.   It has introduced new products such as Tiger Vault, Cash Boost Account and Tiger BOSS Debit Card.  The company has also launched its trade bot TigerGPT in May 2023, making it the first among online brokerages to have a ChatGPT service incorporated into its trading platform. 

Tiger Brokers has celebrated its 10th Anniversary  with over 10 million users globally in July 2024.  With a "Customer First" mission, it is not surprising that Tiger Brokers has won the Best Retail Broker Award in Singapore in 2023.  It has also won the Fintech - Brokerage award during the SBR Technology Excellence Awards 2024 for its AI powered chatbot TigerGPT which provides intelligent decision making support for  its investors. 

I have invested in Tiger Brokers since August and was so happy to see that my investment has risen by 10%.   I use my Tiger App every day and being a user and an investor has added an extra dimension to holding the shares.   It is a case of knowing the product that I am investing in. 

With the Feds at the start of rate cutting and the Chinese authorities' new blitz of stimulus psckage, I believe that Tiger Brokers shares will have lots of exponential growth ahead. 

Is it time to buy $Tiger Brokers(TIGR)$ ? My answer is definitely a YES! 

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