Should I Sell My Tiger Brokers Stock?
πππThe epic rally on Chinese stocks lost steam on Tuesday as investors were disappointed over news that more fiscal stimulus measures are still pending.
The Hong Kong's Hang Seng Index closed on Tuesday in negative territory, tumbling 9.4%. China's CSI 300 Index was up more than 10% in the first hour of trading on Tuesday but closed at a more modest 5.9% rise.
My best performing Chinese stock is $Tiger Brokers(TIGR)$ . Tiger Brokers hit a 52 week high of USD 14.46 last week and on Tuesday it has dropped 16%. However Tiger Brokers is still up 23% in the past 5 days. It has skyrocketed 132% year todate.
In deciding whether I should sell Tiger Brokers I look at its Q2 24 earnings report in order to evaluate. Total revenue for the quarter is USD 87.4 million which is an all time high and a year over year increase of 32%. Trading volumes increased 23.9% quarter over quarter and 62.5% year over year to USD 105.9 billion. This is due to a more active market environment and comprehensive product offerings.
In the 2nd quarter Tiger Brokers added 48,900 new funded accounts, bringing its 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 has exceeded the 1 million milestone.
Tiger Brokers marked its 10th Anniversary with over 10 million global users in 2024. It has expanded its product offerings massively since 2014. In addition to retail brokerage, Tiger Brokers' business matrix now includes wealth management, institutional brokerage, investment banking and corporate services.
Tiger Brokers is continuing to innovate and introduce new products and services. In Q2 23, Tiger Brokers introduced TigerGPT, the industry's first AI investment assistant that combines ChatGPT technology with financial data. Since its launch TigerGPT has supported 400,000 interactions with more than 10,000 weekly engagements demonstrating its significant impact and utility.
In Singapore which is Tiger Brokers' global headquarters, there is a compound annual growth rate of 539% in local account openings since Q1 2020. Customer Assets in Singapore have increased for 5 consecutive quarters.
Tiger Brokers have won the Best Retail Broker Award by the Securities Investors Association Singapore (SIAS) for 2 consecutive years.
Tiger Brokers achieved its all time high of USD 34.98 in February 19 2021. At the last closing price of USD 9.62, I believe that Tiger Brokers is still undervalued and oversold.
Should I sell my Tiger Brokers Stock?
My answer is a definite No. I believe that $Tiger Brokers(TIGR)$ still have lots of exponential growth ahead with new markets to expand and new products to offer. I believe that it is important to let my winners run and$Tiger Brokers(TIGR)$ is certainly a winner.
@Daily_Discussion @TigerStars @Tiger_comments @MillionaireTiger @CaptainTiger @Tiger_SG
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- KienBoonΒ·10-09TOPHope that Tiger can move up progressively. It has dropped a lot from early week indeed. Seems like sentiment has fallen considerably due to that HK/China mkt.1Report
- N30Β·10-09TOPProvided your cost basis is low, not for those who are stuck at the mountain top2Report
- breakaruleΒ·10-09I bought a lot ytd. Sigh wrong time π letβs hope it reboundsLikeReport
- AuntieAaAΒ·10-09GOOD1Report
- KSRΒ·10-09π1Report
- δΈζ»ιΈ.Β·10-09θ°’θ°’εδΊ«1Report