Feels like $FUTU and $TIGR are kinda screwed? The Chinese Gov is going after their historical revenues.
There's basically no fair law in China (esp. with IP), so if Gov wants something done, courts will be rigged against them.
So no chance of an appeal, unless they make a hidden deal. Also don't think the brokerages are able to pull a $GOOGL like their 20 decillion fine, given local operations
So TLDR: Good lesson learned to avoid Chinese exposure from $BABA to $PDD as much as possible...
And (as seen with $META + Manus + this case), even if something looks cheap.
There's a reason why all the US equities have premiums, even if a little high.
