Lufax Holding Ltd (LU) saw a 12.24% drop in stock price on Friday, closing at $2.94 per share as investors awaited new catalysts. The company recently sold 469 million yuan of non-performing debts to Shenzhen China Merchants Ping An Asset Management for 36.44 million yuan through its subsidiary Ping An Consumer Finance.

This transaction will help Lufax Holding Ltd (LU) reduce its credit risk by getting rid of non-performing loans. The company, a dual-listed financial services firm in China, currently has trading suspended on the Hong Kong Stock Exchange due to regulatory issues. Consider other AI stocks for better returns and limited downside risk.

Read more at Yahoo Finance: Lufax (LU) Falls 12% on Lack of Fresh Leads