About 30 minutes ago, I posted about Futu and Tiger being fined by the Chinese government, which caused the stocks to plunge 40%.
However, after doing more research, I realized this isn't exactly new news. Both companies actually phased out their mainland China business a few years ago, and only a small number of legacy accounts still trade through them.
This fine is actually a good thing because it marks the end of the regulatory risk. Both companies have already transitioned out of China and built up a global user base. Aside from this one-time penalty, it shouldn't affect their core business.
Do your own research, but I just put in a small position in FUTU. I love the app because it is simply the best.