Fintech Focus: Qudian Adapts to New Environment
Qudian Inc. was the toast of the town when it made a $900 million initial public offering (IPO) in October, becoming the largest such offering in New York for a new group of Chinese financial technology (fintech) companies. But after a brief rally, things quickly went south for the stock amid a regulatory crackdown and concerns over the company’s ratio of bad loans, even as it announced forays into new businesses such as auto financing.
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