Noah, X Financial among financial movers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 27 2024
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Source: SeekingAlpha
- Gainers: GCT Semiconductor (GCTS) +217%, StoneBridge Acquisition (APAC) +14%, Arrowroot Acquisition (ARRW) +21%, Trump Media & Technology DJT +19%, Noah ADR (NOAH) +17%
- Losers: Bit Origin (BTOG) -24%, X Financial ADR (XYF) -21%, Andretti Acquisition (WNNR) -9%, Keyarch Acquisition (KYCH) -9%, SAI.TECH Global (SAI) -8%
- S&P 500 Financials Sector: Increased by 0.5% to 692.2, Banks up by 0.83% to 394.61, Financial Services up by 0.3% to 1183.01, Insurance up by 0.49% to 735.99
- Financial Select Sector SPDR ETF (XLF): Analysis includes exposure to inflation and fluctuating rates, bullish outlook on Money Center Banks, Lufax Holding's significant surge, and Seeking Alpha’s Quant Rating
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Analyst Views on XYF
About XYF
X Financial is a holding company principally engaged in online personal finance business. The Company is engaged in the connection of borrowers with institutional funding partners and the provision of online personal credit loan products. The Company's main product is Xiaoying Credit Loan, which mainly consists of Xiaoying Card Loan and other unsecured loan products. The Company is also engaged in the provision of secured loan products sunch as Xiaoying Housing Loan and others. The Company primarily conducts its businesses in domestic market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
X Financial and Zhihu Shares Drop 4.4% and 4%, Impacting ETF Performance
- ETF Underperformance: The ActivePassive International Equity ETF fell approximately 3.2% in Tuesday afternoon trading, indicating signs of overall market weakness that could impact investor confidence.
- Individual Stock Performance: Shares of X Financial dropped about 4.4%, while Zhihu shares fell around 4%, with the poor performance of these stocks directly dragging down the ETF, reflecting market concerns about these companies.
- Market Reaction: The overall decline in the ETF may prompt investors to reassess their portfolios, particularly in the international equity space, potentially leading to capital outflows.
- Industry Impact: This downward trend may trigger a broader examination of related sectors, especially in the current economic climate, where investor confidence in tech and financial stocks may be adversely affected.
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Three Financial Stocks Poised for Significant Growth This Month
Oversold Stocks Opportunity: The financial sector has several oversold stocks, identified by a Relative Strength Index (RSI) below 30, indicating potential buying opportunities for undervalued companies.
Noah Holdings Performance: Noah Holdings reported strong quarterly sales with a significant year-over-year profit increase, yet its stock fell 10% recently, closing at $9.64 with an RSI of 26.1.
Ready Capital Challenges: Ready Capital's third-quarter results were disappointing, leading to a 12% stock decline, closing at $2.22, and an RSI of 26.1, as the company focuses on restoring financial health.
X Financial's Decline: X Financial experienced a 41% drop in stock price over the past month, closing at $6.63 with an RSI of 25.2, despite reporting a year-over-year revenue increase but facing operational challenges.
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