paladinsir : JPM probably bought already and looking for buyers to take over their stocks, the target price is 3x from earlier this year, you believe earnings will triple ? that is only possible if people put in 3x more money into stocks at Moomoo. If the portfolio increase 100 or 200%, it's not Moomoo business if there isn't any transactions.

paladinsir OP : The point is Chinese brokerages may see 2-7x more volume, assets, new accounts but moomoo customers are from US, HK, Singapore, Australia, Japan, Malaysia. China customers maybe less than 15%. These customers generally hold other stocks that are non Chinese, so the year on year gain in volume, assets, new accounts may be only 20-30% increase from last year but the stock has risen 55%. Moomoo does not have a license in China and cannot be downloaded in China without HK SIM card. This time is different from the 2020 rise when US also do QE, heck, every country did QE, and so volume of stock buying in each country increased. Also that time, there was a hope that moomoo would expand quickly in China but unfortunately, didn’t happen. I think China regulators will not allow license so soon, else there will be a legitimate way to transfer money out of China , causing implications for yuan. Capital control is especially stringent during low economy growth as the government want Chinese to spend on Chinese businesses to boost their growth, not foreign companies.

paladinsir OP Inhumane : It is quite common for ecommerce platforms to use their own delivery, e.g Amazon uses its Amazon delivery, Alibaba uses Cainiao, Qoo10 uses Qoo Express.