Luokung Regains Compliance with Nasdaq Minimum Bid Price Requirement
Rhea-AI Summary
Luokung Technology Corp. (NASDAQ: LKCO) has regained compliance with Nasdaq's minimum bid price requirement. On October 1, 2024, the company received a letter from Nasdaq confirming that it had evidenced a closing bid price of its ordinary shares at or above $1.00 for 10 consecutive business days as of September 30, 2024. This fulfills the requirement set by Nasdaq Marketplace Rule 5550(a)(2).
Luokung is a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (LBS) and high-definition maps (HD Maps) in China. The company specializes in city-level and industry-level holographic spatial-temporal digital twin systems, serving industries such as smart transportation, natural resource asset management, and LBS smart industry applications.
Positive
- Regained compliance with Nasdaq's minimum bid price requirement
- Maintained closing bid price above $1.00 for 10 consecutive business days
- Nasdaq considers the compliance matter closed
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, LKCO gained 9.95%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
BEIJING, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Luokung Technology Corp. (NASDAQ: LKCO) (“Luokung” or the “Company”), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services (“LBS”) and high-definition maps (“HD Maps”) in China, today announced that on October 1, 2024, it received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it has regained compliance with the Nasdaq Capital Market’s minimum bid price requirement. The letter noted that as of September 30, 2024, the Company evidenced a closing bid price of its ordinary shares at or greater than the
ABOUT LUOKUNG TECHNOLOGY CORP.
Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and multi-sourced intelligent spatial-temporal big data, Luokung has established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource asset management (carbon neutral and environmental protection remote sensing data service), and LBS smart industry applications (mobile Internet LBS, smart travel, smart logistics, new infrastructure, smart cities, emergency rescue, among others). The Company routinely provides important updates on its website: https://www.luokung.com.
CONTACT:
The Company:
Mr. Jian Zhang
Chief Financial Officer
Tel: +86-10-6506-5217
Email: ir@luokung.com
FAQ
When did Luokung Technology Corp. (LKCO) regain compliance with Nasdaq's minimum bid price requirement?
What was the minimum bid price requirement that LKCO had to meet for Nasdaq compliance?
What are the main business areas of Luokung Technology Corp. (LKCO)?
What Nasdaq rule did LKCO comply with by meeting the minimum bid price requirement?
