Benzinga | Oct 28, 2021 10:31AM EDT

Why UP Fintech Shares Are Falling

Shares of several Chinese brokerage companies, including Up Fintech Holding Ltd (NASDAQ:TIGR), are trading lower after China warned unlicensed online brokerages are illegal if they have Chinese clients that are being served through the internet.

UP Fintech shares are trading lower by 30% over the past month and 67% over the past six months amid ongoing regulatory concerns, concerns over the property sector as well as COVID-19 worries.

UP Fintech is an online brokerage firm focusing on Chinese investors. Its trading platform enables investors to trade in equities and other financial instruments on multiple exchanges of stocks and other derivatives.

UP Fintech has a 52-week high of $38.50 and a 52-week low of $4.30.