Why Shares of Qudian Slumped Today
Shares of Qudian (NYSE: QD) tumbled on Thursday after the Chinese online consumer finance company withdrew its annual guidance. A massive share buyback program wasn't enough to quell the market's concerns. As of 11:45 a.m. EST, the stock was down about 15.6%.
Qudian has pulled its fiscal 2019 guidance and will not issue any guidance in the near term. The company blamed uncertainty related to the regulatory and operating environment.
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Source Fool.com
