Why Shares of FinVolution Group Are Dipping Today

Shares of the Chinese fintech company FinVolution Group (NYSE: FINV) were trading more than 11% down midmorning after a big day of gains yesterday. An analyst from Citigroup also upgraded the company's stock today.

FinVolution, a fintech platform in China that connects borrowers with financial institutions, reported its fourth-quarter and full-year results from 2020 yesterday.

The company reported the equivalent of $284 million of revenue and $76.2 million in net income in the fourth quarter of 2020, both up significantly from the fourth quarter of 2019.

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Source Fool.com