Wednesday, October 20, 2021

Lion Group Holding Ltd. (LGHL) Stock Steadily Rising in Premarket

Lion Group Holding Ltd. (LGHL), a company that together with its subsidiaries operates a trading platform, has increased by 3.17% in the premarket trading session, and consequently, is trading at $1.95 at the time of this writing. On Monday, LGHL stock closed the day at $1.89 after surging 26% during regular trading hours. The continuous rise seems to be due to the announcement of an expanded presence in the South East Asian region by the company.


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Lion Singapore granted CMS license

LGHL announced on Monday that its subsidiary Lion International Financial (Singapore) Pte. Ltd has been granted Capital Markets Service License (or CMS License) from the monetary authorities of Singapore. The CMS license allows the company to deal in exchange-related derivative contracts, over-the-counter derivative contracts as well as spot foreign exchange contracts. These contracts are meant for leveraged foreign exchange trading. The company said that with the initiation of Lion Singapore, the group has now got licenses in Hong Kong, Dubai, Cayman Islands, and Singapore. The company expressed its hope to establish offices and have dual headquarters in both Hong Kong and Singapore. Commenting on the development, Mr. Chunning (Wilson) Wang, CEO of Lion, said that Singapore is one of the world’s primary financial centres, and the company expect the new license to boost its existing CFD and TRS businesses.

LGHL 1HFY2021 results


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On 30th September, LGHL reported the financial results for the first half of the fiscal year 2021, which ended 30th June 2021. According to the details, the total revenue posted by the company during six month period stood at $3.60 million. Compared to that, the total revenue for six month period of 2020 stood at $6.43 million. The total expenses for the period stood at $11.26 million, while compared to that, the during six month period in prior fiscal, the total expenses were $4.05 million. The company bore a loss of $7.66 million from the operations. The income from operations for the first six month period of 2020 stood at $2.37 million. The net loss suffered by the company for six month period remained at $10.13 million, while for an equivalent period of 2020; the net income was $2.78 million. The net loss per basic and diluted share for the period stood at $0.47, while for an equivalent period of 2020, the net income per basic and diluted share remained at $0.37. On 30th June, the company had cash and cash equivalents of $14.88 million. The total assets stood at $86.51 million, while total liabilities were $43.83 million.

Future for LGHL stock

LGHL stock has risen 46% during the last week, primarily on the back of CMS license to Lion Singapore and excellent financial results for the first half of 2021. But before that, the company was mostly in decline during last one year. Based on that, it could be said that the coming time could prove to be positive for LGHL stock.

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