U.S. Markets closed

Why UP Fintech Holding Stock Popped Today

Rich Smith, The Motley Fool

What happened

Less than a week after UP Fintech Holding (NASDAQ: TIGR) stock sold off in response to Q1 earnings , shares of the Chinese online brokerage are rebounding nicely today -- up 10.5% as of 1:15 p.m. EDT -- on news that the company has a big fan in the United States.

That would be Greenwich, Connecticut-based Interactive Brokers (NYSEMKT: IBKR) .

100-yuan bills fanned out atop a business newspaper

Image source: Getty Images.

So what

In a Schedule 13D filing last night with the Securities and Exchange Commission, a company related to Interactive Brokers -- IB Global Investments LLC (IBGI) -- disclosed that with UP Fintech's recent initial public offering, IBGI converted its 137,635,322 Series B-3 preferred shares, purchased last year, into an equivalent number of Class A ordinary shares of UP Fintech. In addition, IBGI purchased 13,125,000 more shares of common stock in UP Fintech "in a concurrent private placement transaction for $7 million."

As a result, IBGI now owns nearly 150.8 million shares of UP Fintech. That amounts to 7.6% of Class A ordinary shares, according to the filing.


It's clear that IBGI seems to think that UP Fintech is a worthy investment. It appears that, based on that assessment, other investors are buying in today.

More From The Motley Fool

Rich Smith has no position in any of the stocks mentioned. The Motley Fool recommends Interactive Brokers. The Motley Fool has a disclosure policy .

  • After Hours: Baidu and iQiyi Report Starkly Different Q2s
    Business
    Motley Fool

    After Hours: Baidu and iQiyi Report Starkly Different Q2s

    Beaten down in the stock market lately, the internet service company delivered quarterly results that convincingly beat analyst expectations -- especially for profitability. For its Q2, Baidu posted just over 26.3 billion yuan ($3.84 billion) on the top line. Although this was only 1% higher than in the same quarter last year, it topped the average analyst estimate of 25.8 billion yuan ($3.77 billion).

  • RBI weighs linking some new bank loans to policy rate
    Business
    Reuters

    RBI weighs linking some new bank loans to policy rate

    The Reserve Bank of India (RBI) is looking to get banks to link some new loans to its key policy rate or other external benchmarks, Governor Shaktikanta Das said on Monday, as he pushes them to cut rates faster to stimulate a flagging economy. Since February, the RBI has cut the repo rate by 110 basis points (bps), but most Indian banks - which rely on an opaque rate-setting mechanism, have not come close to following suit. The State Bank of India (SBI), the largest lender by assets, has cut its benchmark lending rate by 30 bps.

  • Business
    Thomson Reuters StreetEvents

    Edited Transcript of LYC.AX earnings conference call or presentation 29-Jul-19 12:00am GMT

    Q4 2019 Lynas Corporation Ltd Earnings Call

  • Trump Administration Asks Supreme Court to Permit Employment Discrimination Against Transgender Workers
    Politics
    Meredith Videos

    Trump Administration Asks Supreme Court to Permit Employment Discrimination Against Transgender Workers

    The Trump administration's Department of Justice is asking the Supreme Court to set a legal precedent that would enable employers to fire employees because they are transgender.

  • Business
    Thomson Reuters StreetEvents

    Edited Transcript of BHTG earnings conference call or presentation 15-Aug-19 1:00pm GMT

    Q2 2019 BioHiTech Global Inc Earnings Call

  • Business
    Motley Fool

    Why Zscaler, Palo Alto Networks, and PG&E Slumped Today

    Several individual stocks fell sharply, including Zscaler (NASDAQ: ZS), Palo Alto Networks (NYSE: PANW), and PG&E (NYSE: PCG). Shares of Zscaler fell 11.3% after OTR Global downgraded the cloud-based cybersecurity specialist to "negative" from "mixed." To justify its relative bearishness, the analyst cited channel checks with Zscaler partners that showed concerns over increasing competition and discouraging sales trends. It certainly doesn't help that Zscaler stock had more than doubled so far in 2019 as of Friday's close, leaving it up more than 400% from its early 2018 IPO at $16 per share.

  • Barnes Group Inc. (NYSE:B)'s Could Be A Buy For Its Upcoming Dividend
    Business
    Simply Wall St.

    Barnes Group Inc. (NYSE:B)'s Could Be A Buy For Its Upcoming Dividend

    If you buy this business for its dividend, you should have an idea of whether Barnes Group's dividend is reliable and sustainable. So we need to investigate whether Barnes Group can afford its dividend, and if the dividend could grow. If a company pays out more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation.

  • Nearly 2 years into early retirement, here’s all that I’ve gotten wrong
    News
    MarketWatch

    Nearly 2 years into early retirement, here’s all that I’ve gotten wrong

    Studies have shown it is very difficult to predict recessions, interest rates or financial markets. We need to predict future political conditions that will affect tax rates, the health-insurance marketplace and Social Security. Most political “experts” couldn't accurately predict the outcome of our last presidential election the day before it occurred.

  • Is ExxonMobil a Buy?
    Business
    Motley Fool

    Is ExxonMobil a Buy?

    ExxonMobil (NYSE: XOM) has struggled in recent years. Shares are down about 20% over the past three years because of continued volatility in the oil market and the company's struggle to grow production and earnings. Exxon, however, has a plan to turn things around.

  • Business
    Bloomberg

    Tesla Relaunches Solar-Panel Business With No-Contract Rentals

    The Palo Alto, California-based company is now offering no-contract solar-panel packages as part of a relaunch announced in a series of tweets early Sunday by Chief Executive Officer Elon Musk. “With the new lower Tesla pricing, it's like having a money printer on your roof,” Musk said in a tweet to prospective customers who live in states with high electricity costs. The relaunch comes less than a month after Tesla reported its third consecutive quarterly decline in solar installations, and less than three years after it bought longtime rooftop king SolarCity Corp. for $2.6 billion.

  • Virgin plastic pellets are the biggest pollution disaster you’ve never heard of
    Business
    Quartz

    Virgin plastic pellets are the biggest pollution disaster you’ve never heard of

    Some 30 miles north of Pittsburgh, Pennsylvania, in a township adjacent to a state forest, oil and gas giant Royal Dutch Shell is building a sprawling new plant to support what it sees as the future of its business: making millions of tons of new, virgin plastic. US president Donald Trump visited the facility last week, highlighting the 5,000 construction jobs it has created. Shell, along with other major oil and gas companies like Exxon, sees plastic as one avenue for growth as natural gas prices plummet—and, longer-term, as a way to weather the world's slow rejection of fossil fuels as an energy source.

  • 3 Reasons This High-Yield Pipeline Stock Is Excited About What's Ahead
    Business
    Motley Fool

    3 Reasons This High-Yield Pipeline Stock Is Excited About What's Ahead

    Transco should continue growing One of Williams' biggest growth drivers in recent years has been its Transco pipeline system, which moves natural gas up and down the eastern seaboard. The company recently completed several expansion projects on that system and has many more in various stages of development. Armstrong ran through the company's progress on the call by stating: We recently applied for a FERC certificate for our Leidy South project.

  • Has J.C. Penney Finally Hit Rock Bottom?
    Business
    Motley Fool

    Has J.C. Penney Finally Hit Rock Bottom?

    J.C. Penney (NYSE: JCP) has burned many investors over the past three years as its stock lost over 90% of its value. Let's see if those improvements indicate that J.C. Penney's stock has finally bottomed out. J.C. Penney's revenue fell 7% annually to $2.62 billion, which matched analysts' expectations.

  • Southwest ending some Oklahoma, California and Florida routes out of Love Field
    Business
    American City Business Journals

    Southwest ending some Oklahoma, California and Florida routes out of Love Field

    Southwest Airlines will stop flying routes to Oklahoma City, San Francisco and Jacksonville, Fla., out of Dallas Love Field starting Jan. 6, 2020 as the carrier continues to alter its network. The changes come as Southwest Airlines Co. (NYSE: LUV) extended its flight schedule last week through March 6, 2020. "We are making some changes in some markets based on extensive performance reviews to end nonstop service between these city pairs," said Dan Landson, a Southwest spokesperson.

  • Fmr. GE Vice Chairman Bob Wright on Markopolos report: It's like bringing out old laundry
    Business
    Yahoo Finance Video

    Fmr. GE Vice Chairman Bob Wright on Markopolos report: It's like bringing out old laundry

    General Electric's vice president of investor relations releases a statement on Harry Markopolos's report, accusing the company of committing a $38 billion fraud scheme by hiding its losses. Akiko Fujita and former Vice Chairman of General Electric, Bob Wright discuss.

  • Canopy Growth Falls to Its Lowest Point in 2019
    Business
    Market Realist

    Canopy Growth Falls to Its Lowest Point in 2019

    Today, Canopy Growth (WEED) (CGC) stock saw its lowest point in 2019. This was the lowest point for the stock since the beginning of the year. Decline since April The decline in Canopy Growth stock began in April this year after it reached a peak of $52.7.

  • United Airlines makes history at San Francisco maintenance hub
    Business
    American City Business Journals

    United Airlines makes history at San Francisco maintenance hub

    History has been made at United Airlines' largest aircraft maintenance center, located on the grounds of San Francisco International Airport, a major Asia/Pacific gateway hub for the airline. United's maintenance milestone would suggest the carrier is increasingly focused on doing in-house maintenance of its (growing) fleet of Airbus planes — an interesting and timely turn of events given what has befallen competing aircraft manufacturing behemoth Boeing Co. (NYSE: BA) in recent months. Boeing is grappling with a still-far-from-resolved Boeing 737 MAX crisis.

  • Trump’s 5-year moon landing plan has gone off the rails
    Science
    Quartz

    Trump’s 5-year moon landing plan has gone off the rails

    The idea was simple when vice president Mike Pence pitched it earlier this year: Let's get astronauts back on the moon by 2024, not 2028 as had been NASA's plan. To make this happen, the White House proposed a temporary increase of $1.6 billion this year to NASA's budget, and something on the order of $20 to $30 billion in additional money over the next five. Former speaker of the house Newt Gingrich, meanwhile, is urging US president Donald Trump to skip all that and just hold a contest for space companies.

  • Why NVIDIA, SINA, and Tegna Jumped Today
    Business
    Motley Fool

    Why NVIDIA, SINA, and Tegna Jumped Today

    Seeing Minecraft in a whole new light Shares of NVIDIA jumped 7% thanks to a combination of the aforementioned Huawei license extension -- which broadly benefits U.S.-based chip companies -- and a new agreement with Microsoft to add its RTX ray tracing technology to the PC version of the software giant's blockbuster Minecraft game. The Minecraft agreement is unusual considering the wildly popular video game has won praise for its simplistic design. But Minecraft's visual revamp -- which adds ultra-realistic effects like direct lighting from the sun, detailed hard and soft shadows, and transparent materials (water, ice, and stained glass) with reflection and light scattering -- offers massive...

  • Will API Inventory Data Show a Buildup?
    Business
    Market Realist

    Will API Inventory Data Show a Buildup?

    The American Petroleum Institute (or API) expects to release its inventory data on August 20. Last week, the American Petroleum Institute reported a buildup of 3.68 MMbbls. Will EIA follow the API inventory trend? Except for a few instances, the EIA inventory data has followed the API inventory trend in the last three months.

  • Shares of Transocean Ride Rising Oil Prices 10% Higher
    Business
    Motley Fool

    Shares of Transocean Ride Rising Oil Prices 10% Higher

    While there is no specific news behind today's move, the stock surge appears to be tied to rising oil prices and a broader stock market increase. So what Any time Transocean's stock rises on oil prices alone, investors should be a little skeptical. That's because Transocean's business has little to do with the price of oil on any given day.

  • JD and Its Peers: Is It Time to Bet on China’s Tech Giants?
    Business
    Market Realist

    JD and Its Peers: Is It Time to Bet on China’s Tech Giants?

    Shares of Chinese tech giant JD.com (JD) are up 12% in the last week. JD shares were up close to 2% in early market trading today as well, bringing its total gains to almost 15% since August 9. JD.com saw a massive boost last week after the company announced its second-quarter results, which beat estimates.

  • Investors Who Bought Novavax (NASDAQ:NVAX) Shares Three Years Ago Are Now Down 94%
    Business
    Simply Wall St.

    Investors Who Bought Novavax (NASDAQ:NVAX) Shares Three Years Ago Are Now Down 94%

    Because Novavax is loss-making, we think the market is probably more focussed on revenue and revenue growth, at least for now. Shareholders of unprofitable companies usually expect strong revenue growth. Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth.

  • 5 Top Pipeline Stocks to Buy Now
    Business
    Motley Fool

    5 Top Pipeline Stocks to Buy Now

    Pipeline stocks can be attractive investments, especially for income seekers. According to a forecast by the INGAA Foundation, which represents the natural-gas pipeline industry, North America needs to spend $44 billion per year through 2035 on new energy infrastructure like pipelines. Given that dividend growth stocks have historically outperformed the market, the best pipeline stocks could generate market-beating total returns.

  • 3 Marijuana Stocks You Should Buy, According to This 124-Year-Old Wall Street Firm
    Business
    Motley Fool

    3 Marijuana Stocks You Should Buy, According to This 124-Year-Old Wall Street Firm

    CV Sciences: price target $5, representing 62% upside Considering Piper Jaffray's excitement concerning CBD growth in the United States – an industry that Lavery believes could reach $8 billion to $15 billion in annual sales in five years – it's no surprise that CV Sciences (OTC: CVSI) is Piper's second overweight pot stock. CV Sciences and its line of PlusCBD Oil products have had a number of big wins this year, with the creme-de-la-creme being its distribution partnership with Kroger (NYSE: KR), the nation's largest grocer.