9F Inc. (NASDAQ:JFU) is up 16% in a week. The company has announced the implementation of a range of strategic changes to transform the company into cutting-edge blockchain-based security and digital brokerage firm from a financial tech service provider that deals with credit tech.
The transformation will see the company focus on brokerage of equity-based securities and digital assets tech services. In addition, 9F will leverage decades of experience of its licensed brokerage company supported by blockchain and artificial intelligence technologies. Most importantly, the company whose brokerage is headquartered in Hong Kong with operations across the ASEAN region seeks to become a global investment and trading platform for digital assets and securities.
CEO and Executive Director Lei Liu elaborated on the company’s current transition stating that since the inception of the company fifteen years ago, it has experienced various crises and economic cycles. He explained that digital credit facilities tend to increase the risk level and overall debt of society during financial crises, putting pressure on borrowers and investors. Therefore, with the strategic transformation, JFU is worth watching.
Market Reaction:
On Monday, JFU stock gained 0.51% at $1.99 with more than 589K shares, compared to its average volume of 1.86 million shares. The stock has moved within a range of $1.8200 – 2.0400 after opening the trade at $2.
