Luokung Announces Receipt Of Nasdaq Notification Regarding Minimum Bid Price Deficiency
Portfolio Pulse from Benzinga Newsdesk
Luokung Technology Corp. (NASDAQ:LKCO) has received a notification from Nasdaq stating that it is not in compliance with the minimum bid price requirement of $1.00. The company has until May 1, 2024, to regain compliance. If it fails to do so, it may be delisted from Nasdaq. The company is considering options to achieve compliance, including a potential reverse share split.
November 08, 2023 | 10:37 pm
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Luokung Technology Corp. is at risk of being delisted from Nasdaq if it does not meet the minimum bid price requirement by May 1, 2024. The company is considering options, including a reverse share split, to regain compliance.
The news of a potential delisting from Nasdaq is a significant negative development for Luokung Technology Corp. This could lead to a decrease in investor confidence and a potential drop in the company's stock price in the short term. The company's consideration of a reverse share split to regain compliance could also dilute existing shareholders' equity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100