Futu Holdings (FUTU) Stock: Why The Price Jumped Today

By Amit Chowdhry ● Nov 24, 2021
  • The stock price of Futu Holdings Ltd (NASDAQ: FUTU) increased by over 6% pre-market today. This is why it happened.

The stock price of Futu Holdings Ltd (NASDAQ: FUTU) increased by over 6% pre-market today. Investors are responding positively to the company’s financial results for the third quarter ended September 30, 2021.

These are the highlights:

— Total trading volume increased 33.1% year-over-year to US$173.5 billion.

— Total revenues increased 83% year-over-year to US$222.4 million; Non-GAAP adjusted net income increased 58.5% year-over-year to US$83.0 million.

— Futu’s global users increased 58.6% year-over-year to 16.6 million as international expansion accelerates. And the total number of registered clients increased 119.9% year-over-year to 2,580,002. Total number of paying clients increased 179.2% year-over-year to 1,167,204.

— Futu reinforced its leading position in Hong Kong with paying clients increased 162% year-over-year- the sixth consecutive quarter to realize triple-digit percentage growth; Futu users number account for about 1/3 of Hong Kong adult population.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.