Stock Alert: OneConnect Financial Slips 18%

Shares of OneConnect Financial Technology Co., Ltd. (OCFT) are trading down 18 percent on Thursday despite lack of any stock-related news that could impact its movement.

OneConnect Financial recently posted net loss of RMB305 million in the first quarter, lower than net loss of RMB415 million in the year-ago quarter. On a per ADS basis, net loss was RMB0.83, compared to RMB1.20 last year.

Revenues climbed 41.1 percent to RMB820 million from RMB581 million in the prior-year quarter.

The stock is currently trading at $15.28, down $3.40 or 18%, on the NYSE. OCFT has traded between $11.98 and $28.80 during the past 52 weeks.

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