Qudian, Jianpu, and China Rapid Finance Feel the Pinch
It's been a rough go for the Chinese financial website operators and online platform providers that have gone public this year. There's been weakness in the shares of Qudian (NYSE: QD), Jianpu Technology (NYSE: JT), and China Rapid Finance (NYSE: XRF), three companies with entirely different models that weren't public when 2017 began.
The latest setback came last week with Reuters reporting that a Chinese government body is urging provincial governments to tighten the screen on new internet-based micro lenders. The ramifications would be different for Qudian, Jianpu, and China Rapid Finance, but investors are going to feel a bit uncomfortable when regulators are shaking up online-fueled financial tech stocks. Shares of Qudian, Jianpu, and China Rapid Finance have fallen 61%, 40%, and 39% respectively since peaking just a few weeks ago.
Image source: Qudian.
Source: Fool.com
