Notable News to Watch: 360 Finance (NASDAQ:QFIN)

Robert Cieslak

360 Finance (NASDAQ:QFIN) stock observed trading -59.14% off 52-week high price. On the other end, the stock has been noted 4.94% away from low price over the last 52-weeks. The stock disclosed a move of -11.69% away from 50 day moving average and -31.64% away from 200 day moving average. Moving closer, we can see that shares have been trading -3.66% off 20-day moving average. It has market cap of $1371.03M.

 360 Finance (NASDAQ:QFIN) a leading digital consumer finance platform, disclosed that Mr. Jun Xu has resigned from his roles as the Company’s director and chief executive officer due to personal and family reasons, effective from August 23, 2019. Mr. Haisheng Wu, the president and co-founder of the Company, was appointed as a director and promoted as the chief executive officer, effective immediately. He will also serve as a member of the Board’s compensation committee.

Mr. Hongyi Zhou, the chairman of the Board, commented, On behalf of the Board, I regret that Jun has to leave the Company due to personal reasons and would like to thank him for his extraordinary services to 360 Finance as a co-founder and the chief executive officer, especially his contribution to the Company’s rapid growth and successful debut on the international capital market. At the same time, we are pleased to welcome Mr. Haisheng Wu to join the board and act as the chief executive officer and to benefit more from his talents and experiences as we continue to sustainably grow our business and deliver long-term shareholder value. We will continue to dedicate our efforts to building the Company into a data and AI driven third-party financial technology enabler.

About 360 Finance

360 Finance (NASDAQ: QFIN) (360 Finance or the Company) is a leading digital consumer finance platform and the finance partner of the 360 Group. The Company provides tailored online consumer finance products to prime, underserved borrowers funded primarily by its funding partners. The Company’s proprietary technology platform enables a unique user experience supported by resolute risk management. When coupled with its partnership with 360 Group, the Company’s technology translates to a meaningful borrower acquisition, borrower retention and funding advantage, supporting the rapid growth and scaling of its business.

 The China based company 360 Finance moved with change of -5.75% to $9.99 with the total traded volume of 318518 shares in recent session versus to an average volume of 477.43K. The stock was observed in the 5 days activity at -4.68%. The one month performance of stock was -8.60%. QFIN’s shares are at -38.60% for the quarter is now at -35.58% since this point in 2018.  The average volatility for the week and month was at 4.87% and 4.20% respectively. There are 137.24M shares outstanding and 3.1M shares are floated in market.

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