FUTU - Futu Holdings Continues To Grow But Lock In Some Profit
2024-05-28 12:30:04 ET
Summary
- Futu Holdings Limited is an online brokerage firm based in Hong Kong with millions of customers and a range of services.
- The company has reported growth in registered and paying clients, as well as an increase in client assets.
- Despite this growth, total revenues only increased by 3.7% and there was a decline in net income, raising concerns about margins and profitability.
- Take some profit on this trade, and consider a house position, but watch those margins.
Back in November 2023, we outlined a public trade on Futu Holdings Limited ( FUTU ). Before this, we traded at our service, last buying in at $39 when shares more than doubled. November's public trade that we outlined called for buying in the 50s, and selling in the high 60s or 70s. After a nice run, we think it prudent to take some profit here. However, you can now consider backing out your initial investment, plus a large portion of the profit, and letting the rest run forever as a house position....
Futu Holdings Continues To Grow, But Lock In Some Profit