Why Qudian Inc. Stock Dropped 20% This Morning

Things are really not going well for Chinese online small consumer credit provider Qudian Inc. (NYSE: QD) Last week, Qudian reported its financial results for fiscal Q3 2017 -- and the stock has been in a tailspin ever since.

Entering earnings at a share price of $27.23, Qudian shares have lost 33% of their value in the last six trading days. The shares fell as much as 20% more in early Tuesday trading, and after recovering somewhat, were recently spotted hovering around $18.40 per share as of 12:35 p.m. EST -- down about 8.2% for the day.

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Source: Fool.com