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Saturday, May 28, 2022

Why Pintec Technology Holdings Ltd (PT) stock flipped on Friday, April 9, 2021

Pintec Technology Holdings Ltd (PT) stock flipped from negative to positive on the last working day of the week. On Friday, 9th April 2021, it lost 12.23% in the early session but it did some recovery in the extended-hours trading session and gained 33.61%.PT shares have declined 11.59% over the last 12 months, and they have moved up by 7.02% in the past week. Over the past three months, the stock has gained 9.91%, while over the past six months, it has added 37.06%.


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Let’s have a look at the recent developments

Upcoming Financial results announcement

On April 9, 2021, Pintec Technology Holdings Limited announced the date to release its unaudited financial results for the fiscal year ended December 31, 2020.

Pintec Technology will announce the results before the U.S. market opens on Wednesday, April 14, 2021.

An earnings conference call will be hosted by Pintec’s management team at 8:00 A.M. Eastern Time on Wednesday, April 14, 2021 (8:00 P.M. Beijing Time on the same day).

Upcoming General meeting

On April 2, 2021, Pintec Technology Holdings Limited announced the schedule of an extraordinary general meeting (EGM) of shareholders.

The EGM will be held at Chaoyang, Beijing on May 7, 2021, at 10:00 a.m. Local time at Floor 9, Room Jupiter, Heng An Building, No. 17, East 3rd Ring Road.

The meeting is called for two proposals

  1. To make changes to the authorized share capital of PT stock
  2. Amending the restating PT stock’s Fourth or current Memorandum of Association and Articles of Association

Cooperation with China Mobile Communications

On Dec. 18, 2020, Pintec Technology said that it has cooperated with Aspire Holdings Ltd which is a subsidiary of China Mobile Communications Corporation to jointly develop advanced fintech solutions.

Conclusion

We have only one recent news which can either be the reason for its gains or loss on Friday. But there is no clear development to justify its loss and later turnaround on Friday.

About PT stock

Pintec Technology Holdings Ltd. is a leading independent technology platform enabling financial services in China. PINTEC provides lending solutions to partners including Qunar, Ctrip, BestPay, Vip.com, Xiaomi, Anbang Finance, and Minsheng Securities.

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