Luokung Granted Extension To Meet Nasdaq Minimum Bid Price Requirement
Portfolio Pulse from Benzinga Newsdesk
Luokung Technology Corp. (NASDAQ:LKCO), a spatial-temporal intelligent big data services company in China, has received a 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share. The new deadline is October 28, 2024. This extension allows the company additional time to comply with Nasdaq's listing requirements without affecting its current listing status. Luokung was initially notified of its non-compliance on November 3, 2023, and had until May 1, 2024, to regain compliance.
May 08, 2024 | 10:43 pm
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Luokung Technology Corp. received a 180-day extension from Nasdaq to meet the minimum bid price requirement, extending the deadline to October 28, 2024.
The extension provides Luokung Technology Corp. with additional time to meet Nasdaq's minimum bid price requirement, which is crucial for maintaining its listing status. This news is likely to be viewed positively by investors as it alleviates immediate delisting concerns, potentially leading to a short-term positive impact on the stock price. However, the company must still work to achieve compliance by the new deadline to avoid negative consequences.
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