Why Shares of Up Fintech Holding Are Rising Today

Shares of the China-based online brokerage firm Up Fintech Holding (NASDAQ: TIGR) were trading more than 29% higher as of noon ET Friday after the company reported earnings results for the fourth quarter.

Up Fintech reported a small loss in the quarter, but on an adjusted basis, the company broke even. Total revenue came in at $62.2 million, up from $47.2 million in Q4 2020.

The number of customer accounts on the platform grew to 1.85 million as of the end of 2021, up from 1.1 million a year before. Total account balances also grew to $17.1 billion, up from less than $16 billion a year before, although the metric fell compared to the prior quarter. Total trading volume of $85.6 billion was up by more than $20 billion from Q4 2020, although that metric, too, was down from where it stood in Q3 2021.

Source Fool.com