Shares of ChinaFinance Online Co. Limited (JRJC) stock remained high in the after-market session on Thursday.JRJC stock price has added $1.59 more to reach $15.6 a share with an 11.355 gain in yesterday’s late hours. At the previous closing, JRJC per share price was $14.01 with a 19.74% gain. Let’s see the reason behind this bull.
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JRJC stock rises despite the absence of supportive evidence.
There was no press release by the JRJC stock, no specific news related to the ChinaFinance Online Co. Limited, no earnings report, no analyst upgrades or upswing targeted per share price to explain the culprit behind this rally. Moreover, we find no clue of social media hype to support the rise of JRJC stock.
Financial Look on China Finance Online:
China Finance Online announced its unaudited third quarter and first nine months financial results of 2020 on December 29, 2020, that reported $10.7 million with 32.9% YoY growth in revenue in the third quarter of 2020.Net loss was reduced to $1.5 million in the third quarter of 2020 as compared to $2.1 million in the same quarter of 2019.Gross margin jumper from 62.3% in 2019 to 64.4% in the third quarter of 2020.
As far as the first nine months of 2020 are concerned, JRJC stock generated $30.3 million in revenue as compared to $26.8 million in the same period of 2019. Total revenue grew by 43.2% in the first nine months of 2020. China Finance online suffered a net loss of $4.9 million which was much less than the $7.9 million in the same tenure of 2019.
About China Finance Online:
- China Finance Online Co. Limited (JRJC) is the leading web-based financial service provider in China and Hong Kong.
- JRJC’s current market cap is 34.212M and its core operating areas include Online Financial Information and Advisory Service, Commodities Brokerage Services, and Hong Kong Brokerage Services.
- JRJC’s product Lingxi Robo-Advisor was among the Top 10 Best Robo-Advisors in 2020.
- China Finance Online was founded in 1998 and is headquartered in Beijing, China.
JRJC stock price was in a good position at previous closing as well as yesterday’s after-hour session despite the absence of any specific reason but no one knows how long this trend will continue. The previous earning report points to the growth of JRJC stock over the year. Investors having long-term prospects need to keep an eye On JRJC stock.