RTTNews | Aug 14, 2020 09:59AM EDT

09:59 Friday, August 14, 2020 (RTTNews.com) - Shares of China-based mobile e-commerce and consumer lending platform Hexindai Inc. (HX) are falling more than 39 percent or $0.98 in Friday's morning trade at $1.50.

U.S. stocks opened little changed on Friday with traders reluctant to make significant moves amid recent uncertainty about the near-term outlook for the markets. With earnings season largely in the rear-view mirror and talks about a new coronavirus relief bill in a stalemate, traders seem unsure about the next catalyst to drive the markets.

Thursday, Hexindai said it has launched an upgraded version of its new form of social e-commerce platform Xiaobai Maimai. The upgraded platform offers high-quality and affordable branded products covering food and beverage, wine and cigarettes, cosmetic products, fashion and apparel, entertainment. As of July 31, 2020, Xiaobai Maimai had bout 160,000 active users on the app.

Hexindai has traded in a range of $0.25 to $2.50 in the past 52 weeks.

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