|Bid||6.92 x 200|
|Ask||6.93 x 100|
|Day's range||6.85 - 7.01|
|52-week range||6.85 - 25.25|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||12.02|
Competition in China's burgeoning fintech sector doesn't mean it's overcrowded, Jianpu Technology CEO David Ye told CNBC.
After losing more than 40% of its market value last week -- as Chinese regulators tightened rules for online consumer lending -- Qudian is seeing a 16% bounce today in its American depositary receipts (QD), to a recent $14. Only weeks after their initial offerings and NYSE listings, the ground shifted under Qudian and peers like PPDAI Group (PPDF) or Yirendai (YRD) that have charged annualized interest rates as high as 36% to arrange small loans to consumers in China. Alarmed at the sudden boom in online payday loans, China said it would stop granting new licenses for online consumer lending.
In its latest attempt to restrain the fast-evolving fintech sector, Beijing directed local governments to stop licensing providers of online microloans and to prohibit their operating outside the province ...