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UP Fintech Holding Limited (TIGR) stock Rose in Pre-Market today: Why is it so?

UP Fintech Holding Limited (TIGR) stock announced unaudited first quarter 2021financial results today on May 25, 2021, after which the TIGR stock price happened to be green and saw a push of 6.18% to reach $18.20 a share at the time of this writing. At previous trading, TIGR stock was declining and dropped by 1.44% at closing. Let’s discuss the earnings report in detail.

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First Quarter 2021 Financial Results:

Operating Highlights and Expenses:

TIGR stock had cash and cash equivalents and term deposits of US$193.4 million at the end of March 2021 while these were US$98.4 million at the end of December 2020.


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Business Development:

The first-quarter financial results point to the strong growth of business for TIGR stock over the year.117,000 funder accounts have been added and the aggregate value of asset client exceeded US$21.4 billion. Trading volume for TIGR stock nearly tripled in the first quarter of 2021 as compared to the same period of the prior year. UP Fintech is serving 165 clients out of which 41 have been added in the first quarter of 2021.

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Conclusion:

Investors are responding to the unaudited first-quarter financial results of 2021 by TIGR stock. Strong revenue, profits, and client assets in the reported quarter show that TIGR stock outperformed in the first three months of 2021 as compared to the same period of the prior year. If such growth continues in the future, then TIGR stock would be fruitful for investors in the long run.

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