As I already said it yesterday, you will probably lose your money if you invest in JFIN stock. And now that Q1 results are finally here we can see what was this all about. A typical pump and dump scheme by a team of skilled speculators. Maybe it was something else that I missed to see, who knows, right?
Anyhow, here are the key takeaways from unaudited Q1 financial results. The main thing to pay attention at is net income. Net income was RMB39.5 million (US$5.6 million), compared with net income of RMB254.2 million in the same period of 2019, which is a decrease of …how much…? Some 85%-ish? Now you have tha answer on your question:”Why is JFIN down today?”
Net revenue was RMB313.5 million (US$44.3 million), representing a decrease of 57.1% from the same period of 2019, and a decrease of 11.1% sequentially.
In the words of Mr. Yan Dinggui, JFIN Founder, Director and CEO, these are:”..solid results.”
Ah well, solid for people that sold the stocks on peak.