360 DigiTech stock falls despite Daiwa initiating the company with a buy rating

solarseven

• U.S.-listed shares of 360 DigiTech (NASDAQ:QFIN) were 10.7% lower at $13.88 in Monday afternoon trading and, if the losses hold, the stock is on track to close in the red for a second straight session.
• Broader U.S. markets were also lower.
• China-based QFIN offers a digital platform through which it can enable financial institutions to provide targeted products and services to their consumer base.
• Daiwa Capital Markets research initiated QFIN with a buy rating, but the rating action did not help the stock.
• Daiwa's buy rating compares to a Wall Street average rating of strong buy, SA Authors rating of buy and a Quant rating of hold.
• Up to their last closing price, U.S.-listed shares of QFIN have lost 32.2% YTD.

Comments

[theendisnearlyhere]

I'm not brave enough to invest in Chinese stocks.

[Jeff Boyd]

@theendisnearlyhere It is indeed scary but most financial instruments other than TIPS scare me.