Yes it started on the OTC then upgraded years later but truth be told it was really a different type of play/sector- it was a cashless tech play that was burning past money early on with a fairly weak balance sheet in its early stages and only in the last few years did it become more of a robust balance sheet- the financings weren't as favorable and neither was the operation as FUTU-
FUTU is the beneficiary of FU'S early growing pains- FUTU was handed over assets- a very clean balance sheet and strong revenues and shareholder equity on the balance sheet.
Many will probably look at the lender and see that they have done other deals with other penny stocks that weren't nearly as favorable but the financings they just did with FUTU were very favorable and it looks like strong confidence in them moving this stock to higher levels.
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