John

China, CSRC has opened investigations and issued advance administrative-penalty notices against $TIGR, $FUTU and Longbridge as eight Chinese regulators launch a two-year cleanup of illegal cross-border securities, futures and fund services targeting mainland investors. CSRC says the firms operated securities brokerage, margin financing, public fund sales and futures brokerage services in mainland China without approval. The regulator says they solicited mainland investors, handled trading orders and earned revenue from those services. Existing mainland users on unauthorized platforms can only sell and withdraw funds. No new buy orders. No new fund transfers in. After the cleanup period, unauthorized platforms must shut down mainland-facing websites, trading software and related services.

Now we know. I am building a good hit ratio on this.

Anyone else kinda NOT that impressed with $BABA's recent release: > Earnings up 3% 🤮 or 11% not counting divestments > Adjusted earnings miss 🤮 > Free cash flow negative to the tune of $2.5B 🤮 > Server cost inflation = 100% 🤮 > GAAP earnings beat by double 🥳 > CLoud segment grows 38% when Google Cloud growing 60% + from a larger base Sorry guise I just wasn't blown away by any of this apart from the GAAP earnings beat