QD - Qudian Shares Sink Into Danger Zone As It Fails To Find New Footing

• Chinese microlender Qudian Inc. slipped into the red in the third quarter, sparking a selloff that sent its stock to all-time lows below $1 and throwing its listing into question.
• After falling over 20% on Monday following the release of its results, Qudian’s shares continued to slide and traded as low as $0.89 on Wednesday, threatening its listing should it stay below $1 for an extended period.
• Qudian had a dramatic change of fortune when Chinese authorities began reining in thousands of freewheeling microlenders not long after the company’s listing in late 2017.
• The big question for Qudian, which was founded in 2014, will be whether it can return to a growth track within the country’s new strict lending rules.

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