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Lion Group Holding Ltd. (LGHL) stock plunges in the pre-market. Why is it so?

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Lion Group Holding Ltd. (LGHL) stock declined by 0.4% in the last trading close whereas the LGHL stock continues to decline by 8.81% during the pre-market trading session after LGHL announced its full year 2020 financial results ended on December 31. Lion Group Holding is an all-in-one trading framework that focuses on Chinese investors and provides a broad variety of goods and services.

2020 Financial Results

  • The revenue generated by LGHL in the year 2020 was $10.2 million which was $18.5million for the year 2019 that indicates a decrease of 44.8% in the revenue.
  • LGHL has undergone a net loss of $3.4 million compared to a net income of $8.2 million from the previous year.
  • The total number of client accounts associated with revenue generating was increased by 23.8% in the year 2020. Total accounts calculated were 5010 compared to 4047 from the previous year.
  • The generated Non-GAAP net income for the full year 2020 was $0.3 million compared to $8.2million for the year 2019.
  • CFD trading volume for the year 2020 was also declined by 72.3% from 806,111 lots in 2019 to 223,018 lots this year.

2021 Outlook

Lion Group Holdings announced that Mr. Guangdong Wang has become a member of the Board and is expected to play a vital role in LGHL’s TRS trading business since he has experience of 10 years of in quantitative trading. Also in the statement given, LGHL clarified that they are expecting their CFD trading services to remain a significant source of revenue in the future, as they have partnered with Yun Tian Investment Limited, which has tasked a team of talent in the areas of finance, technology, and marketing to help LGHL in accelerating their TRS trading business growth.

With the ongoing COVID-19 pandemic situation, LGHL is hopeful that by the time most of the people will receive vaccination, their business will return back to normal. The expected time for that is June 2021 as it is mentioned by LGHL that they have entered into this with their long-term and efficient strategies for the business.

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