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UP Fintech Holding Limited

Company NameUP Fintech Holding Limited
Stock SymbolTIGR
Class PeriodMarch 20, 2019 to June 16, 2019
Lead Plaintiff Motion DeadlineJanuary 06, 2020

In March, 2019, UP Fintech completed its IPO in which it sold over 14.95 million ADSs for $8.00 per share.

On May 17, 2019, the Company announced its first quarter 2019 financial results and disclosed a 4.1% decrease in commissions. Moreover, the Company revealed that its operating costs skyrocketed by over 36%, citing increases in expenses related to employee headcount, employee compensation, office space, and leasehold improvements. 

On this news, the Company’s ADS price fell $1.21 per share , or over 17%, to close at $5.77 per share on May 17, 2019, thereby injuring investors. Since the IPO, UP Fintech ADSs have traded as low as $4.18 per share, or 48% below the IPO price.

 

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