U.S. Stock Market News | LexinFintech Surges Over 13%, Stock Price Up Over 150% from Low Point
After the opening of the US stock market on October 4th, Lexin's stock price surged significantly. As of the time of publication, the company's stock price rose by 13.24% to $3.85. The stock price has risen by over 150% from its low point. The rise in Lexin's stock price is mainly driven by optimistic expectations for the second half-year performance, valuation recovery, and the upcoming release of Q3 results. According to Lexin's financial report for the second quarter of 2024, the company's revenue reached 3.64 billion RMB, a quarter-on-quarter increase of 12.3%; net profit attributable to shareholders was 227 million RMB, a quarter-on-quarter increase of 12.4%. Lexin is set to announce its Q3 results in November, and the market generally holds optimistic expectations for it
According to the Wise Finance APP, after the opening of the US stock market on October 4th, Lexin (LX.US) saw a significant increase in its stock price. As of the time of writing, the company's stock price has risen by 13.24% to $3.85. The stock price has increased by over 150% from its low point.
The rise in Lexin's stock price is mainly influenced by optimistic expectations for the second half-year performance, valuation recovery, and the upcoming announcement of Q3 results.
Lexin's financial report for the second quarter of 2024 showed that the company's revenue reached 3.64 billion RMB, a quarter-on-quarter increase of 12.3%; net profit attributable to shareholders was 227 million RMB, a quarter-on-quarter increase of 12.4%.
Lexin is set to release its Q3 results in November, and the market generally holds optimistic expectations for it