Why Shares of X Financial Are Surging Heading Into the Weekend
Shares of the Chinese online personal lender X Financial (NYSE: XYF) had surged nearly 27% as of 11 a.m. EDT on Friday for no apparent reason, and leads financial gainers so far today.
Shares of X Financial have been surging all year, up more than 600% in the last six months, 168% in the last month, and more than 40% over the last five days. So today appears to be just another continuation of the bull run.
The company only recently reported its first-quarter earnings results, which showed promise. Net revenue for the quarter was the equivalent of more than $138 million, up 71% from a year ago. Net income totaled more than $29 million, up from a loss of more than $30 million in the first quarter of 2020.
Source Fool.com
