UP Fintech Holding Limited (NASDAQ:TIGR) spotted trading -78.95% off 52-week high price. On the other end, the stock has been noted 22.98% away from the low price over the last 52-weeks. The stock changed -2.90% to recent value of $5.03. The stock transacted 872792 shares during most recent day however it has an average volume of 2837.49K shares. The company has 125.15M of outstanding shares and 53.91M shares were floated in the market.
UP Fintech Holding Limited (NASDAQ: TIGR), a leading online brokerage firm focusing on global Chinese investors, reported that its wholly-owned US subsidiary, Tiger Fintech Holdings, Inc. has entered into a definitive agreement with all shareholders of Marsco Investment Corporation (“Marsco”), pursuant to which Tiger Fintech agreed to acquire 100% equity stake in Marsco for the total consideration of approximately US$9.4 million in a combination of cash and Class A ordinary shares of UP Fintech, subject to certain price adjustments. The deal is expected to close in the third quarter of 2019, subject to customary closing conditions.
Founded in 1986, Marsco is a U.S. online brokerage service platform that focuses on empowering self-directed investors with the necessary tools to manage their portfolios.
Mr. Tianhua Wu, Chief Executive Officer and Director of UP Fintech, stated, “I am very pleased to have Marsco joining Tiger Fintech. Marsco has a good track record for the past 30 years. It brings in rich broker dealer experience in execution and clearing that will further solidify our position as the leading online broker with proprietary technology from front end to back end. We believe this transaction will provide us with numerous synergies to accelerate our growth in the U.S and greatly enhance user experience.”
Mr. Mark Kadison, Co-founder and CEO of Marsco, said, “We at Marsco are very excited to become part of the Tiger Fintech team. We believe that the combination of Tiger’s advanced technology driven platform with Marsco’s self-clearing and back office expertise will offer customers an outstanding combination of leading-edge technology, innovative products and competitive pricing.”
Its earnings per share (EPS) expected to touch remained -475.80% for this year . TIGR has a gross margin of 97.90% .
According to the most recent quarter its current ratio was 2.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.00% from the mean of 20 days, -31.04% from mean of 50 days SMA and performed -47.96% from mean of 200 days price. Company’s performance for the week was -4.19%, 13.03% for month and YTD performance remained -53.94%.
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