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PPDAI Group Inc. American Depositary Shares each representing five Class A
FinVolution Group (PPDF), formerly known as PaiPaiDai, reported its Q3 earnings with a miss and both revenue and EPS. The stock sold off as the company announced that it will discontinue its P2P platform and focus solely on loan facilitation to better comply with the current regulatory environment in which loan facilitation is favored over P2P. The stock will be volatile in the coming months, but directionally speaking we believe there is more downside to this stock.
The bottom line
We are not fans of P2P hence we are not fans of PPDF