Ladies and gentlemen, thank you for standing by, and welcome to the UP Fintech Holding Limited first-quarter 2021 earnings conference call. UP Fintech Holding Limited's first-quarter 2021 earnings release was distributed earlier today and is available on our IR website at ir.itiger.com, as well as GlobeNewswire services.
The stock market has been tough to predict lately, with major market benchmarks remaining relatively close to all-time record highs but having trouble regaining momentum. Investors remain somewhat concerned about growth stocks, and that's a big reason why the Nasdaq Composite (NASDAQINDEX: ^IXIC) remains off its best levels. The Nasdaq was up just 0.1% as of 1:30 p.m. EDT.
Shares of UP Fintech Holding (NASDAQ: TIGR), primarily an online brokerage in China known as Tiger Brokers, soared on Tuesday after the company provided financial results for the first quarter of 2021. Like many brokerages in the U.S., Tiger Brokers saw a surge in trading volumes that contributed to the strong revenue growth. As a percentage of revenue, first-quarter expenses were way down for UP Fintech.