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Why Shares of Futu Holdings Shot Up This Week

TheMotleyFool

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Why Shares of Futu Holdings Shot Up This Week: https://g.foolcdn.com/editorial/images/684401/generic-upward.jpg

This week, shares of the Chinese online brokerage platform Futu Holdings (NASDAQ: FUTU) had climbed 22.5% higher as of market close Thursday after the company reported recent earnings results earlier this week.

Chinese stocks also rebounded as the Chinese government continued to show signs of easing up on Chinese tech stocks from a regulatory perspective.

For the first quarter of 2022, Futu reported diluted earnings per American depositary share of $0.49 on total revenue of nearly $210 million, both of which beat earnings estimates from analysts.

Source Fool.com

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