Home Equities Score What Is Hurting Luokung Technology (LKCO) Stock? Fell -13% Pre-Market

What Is Hurting Luokung Technology (LKCO) Stock? Fell -13% Pre-Market

Luokung Technology Corp. (NASDAQ: LKCO) has been facing its stock price falling -13.00% in premarket session today. The stock of the internet technology company has fallen -11.50% on Friday because of the addition of the company into a restriction list that restricts U.S. citizens as well as entities to trade with the company.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

What’s happening?


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


Luokung Technology Corp. is one of the world’s leading spatial-temporal big-data processing technology companies and the number one interactive location-based services provider in China. “Luokuang” and “Superengine” are the core business brands of the Company. The Company provides big data based PaaS, SaaS, and DaaS intelligent services in many domains such as Mobile Internet, Internet Travel, Intelligent Transportation, Automatic Driving, Smart Cities, Intelligent IoT, Natural Resources Exploration & Monitoring.

Read More

The Luokung Technology announced on Friday that the Company received a notice from Nasdaq that trading of its ordinary shares will cease at the start of business on March 15, 2021. DoD had inserted the Company to its list of “Communist Chinese Military Companies” (“CCMCs”), which was basis of the Nasdaq’s move.

There are certain restrictions on CCMC-listed companies that operate directly or indirectly within the United States that are contained in Executive Order 13959 (the “EO”). In order to prevent the Company’s securities from being listed and registered on The Nasdaq Stock Market, Nasdaq will file a Form 25-NSE with the Securities and Exchange Commission (the “SEC”). In accordance with the procedures set forth in the Nasdaq Listing Rule 5800 Series, the Company plans to appeal Nasdaq Staff’s determination to a Hearings Panel.

The Company announced in a press release that same day that it had initiated separate litigation with the U.S. Federal District Court for the District of Columbia seeking to avoid the unlawful categorization of the Company as a CCMC and impose restrictions relating to that categorization. In that case, Luokung anticipates applying to the Court for a Temporary Restraining Order (“TRO”) to halt enforcement of the EO restrictions as to Luokung.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

As a result of the EO, it is illegal for U.S. persons and entities to trade with companies included in the Section 1237 list, starting March 15, 2021. The Company was added to the List on January 14, 2021.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Why Is The OPTT Stock Rising Today?

The shares of leading innovative and cost-effective ocean energy solutions provider Ocean Power Technologies Inc. (OPTT) have been trading up 3.54% in early trades...

IHT Stock Has Been Growing During Premarket Session. What Has Driven That Upward Trend?

At the premarket today, shares of InnSuites Hospitality Trust (NYSE: IHT) rose 10.43% to $2.33. The InnSuites stock gained 3.43% last trading day to finish...

In Premarket Session, Why Is SEAC Stock Rising?

Shares of SeaChange International Inc. (NASDAQ: SEAC) are trading up 11.65% to $1.15 in premarket. SEAC stock gained 1.98% to end Wednesday trading session...

Here is why Qualtrics International Inc (XM) stock surged in the after-hours on Wednesday?

Qualtrics International Inc (XM) stock started the Wednesday, April 21, 2021, in a negative mode and lost 0.059% in normal trading session but in...

ZLAB Stock Is On An Upswing Today. Why?

Today's premarket session has seen shares of Zai Lab Limited (NASDAQ:ZLAB) up 6.12% at $160.00. Last trading session, Zai Lab plunged -8.15% to finish...

IHT Stock Has Been Growing During Premarket Session. What Has Driven That Upward Trend?

At the premarket today, shares of InnSuites Hospitality Trust (NYSE: IHT) rose 10.43% to $2.33. The InnSuites stock gained 3.43% last trading day to finish...

Is There Any Reason Why ACTC Stock Is Rising Before The Market Opens Today?

ArcLight Clean Transition Corp. (NASDAQ: ACTC) shares are trading up 7.12% at $17.90 in premarket trade this morning. ArcLight stock gained 15.64% during the...

BNGO Stock Is On An Upswing Today, Why?

The premarket trading price for Bionano Genomics Inc. (NASDAQ: BNGO) was up 5.75% at $6.25. A share of Bionano stock closed at $5.91 last...

Related News

What Raised The OCGN Stock Higher In After-Hours Session?

In after-market trading hours on Wednesday, Ocugen Inc. (NASDAQ: OCGN) increased 7.85% in value to $7.01. A price range of $5.83 to $6.76 created...

Why did Neubase Therapeutics Inc (NBSE) stock slide in after-hours on Wednesday?

Neubase Therapeutics Inc (NBSE) stock started the day with a 3.09% gain on Wednesday, April 21, 2021, but in the after-hours session, it dropped...

Here is why Teradata Corporation (TDC) stock rallied in the after-market on Wednesday, April 21?

Teradata Corporation (TDC) stock surged 32.90% in the extended trading hours on Wednesday, April 21, 2021. Earlier TDC gained 2.92% in the normal trading...

During After-Hours, What Drove GPM Stock Up More Than 9%?

The shares of Guggenheim Enhanced Equity Income Fund (NYSE: GPM) gained 9.69%, closing at $8.15, in aftermarket trading. In Tuesday's regular session, GPM closed...

Why Sierra Metals Inc (SMTS) stock went up in after-hours on Tuesday April 20?

Sierra Metals Inc (SMTS) stock gained 13.12% in the after-hours session on Tuesday, April 20, 2021, after losing -2.76% to close normal Tuesday's session...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.