This stock was listed on Nasdaq just last Friday and it is none other than Hong Kong- based Futu Holdings Limited stock, an online brokerage firm backed by TenCents Holdings. With its IPO at $12 per share, Futu Holdings closed more than 30% last Friday and the bullishness in this IPO stock backed by optimism that it could be another multi-bagger stock since the stock is backed by Tencents Holdings had me buying into the stock as well with the intention of a quick trade.
Please note that I do not always buy every US IPO stock but will only do it on a selective basis depending on the nature of the US stock. And in this case, I was rewarded by my trading judgement. While I did not manage to sell at the intra-day high of the stock yesterday, it was a good profit since as I have expected, the stock price of Futu tapered off eventually, closing off yesterday lower than the intra-day high.
And more importantly, as what the motto of this blog says, I have the bulk of my investment portfolio in a resilient and relatively risk-free STI with the remainder for multi-bagging selective international picks. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.
