The internet technology firm 9F Inc (NASDAQ:JFU) came into focus among investors on Wednesday out of nowhere and ended the day with gains of as much as 15%.
There was no news about the company that might have triggered the rally in the stock yesterday and as a matter of fact, there has been no news about the company for months. The last time any news emerged about 9F was back in February this year when the company announced the rebranding of its online stock brokerage business. 9F announced that the stock brokerage had been rebranded to Fuyuan Securities.
The stock brokerage business had been founded back in 1991 and at the time it was known as 9F Primasia Securities. In this context, it should be noted that Fuyuan Securities is a brokerage that is licensed from out of Hong Kong and offers investors the opportunity to trade in stocks from both Hong Kong as well as the United States.
While the rebranding of the company was an important step from 9F it is also necessary to note that it is unlikely that yesterday’s rally was related to this particular piece of news.