Why LexinFintech Holdings Crushed the Market on Monday
LexinFintech Holdings (NASDAQ: LX), a Chinese company that specializes in loan services targeted at the country's bourgeoning class of young professionals, rose by almost 9% on Monday. The catalyst was a business update indicating robust growth in the very near future.
In the update, based on a preliminary assessment of its performance, LexinFintech said its loan originations hit 176.5 billion yuan ($27.24 billion) in 2020, matching the company's guidance.
For this year, the financial services company is forecasting that originations will amount to 220 billion yuan to 230 billion yuan. If accurate, this would mean year-over-year growth of at least 25%.
Source Fool.com
