Luokung: Jumps as Nasdaq scraps stock's delisting next week

Luokung Technology

11/03/2021 16:08

** Shares of Chinese big data firm  LKCO.O  jump 11.3% to
$1.04
    ** LKCO, at loggerheads with U.S. govt, says Nasdaq has
withdrawn from delisting its shares and says trading on its
ordinary shares will continue until May 8, 2021  urn:newsml:reuters.com:*:nFWN2L912X
    ** In January, former U.S. President Donald Trump placed
LKCO on a blacklist of firms with alleged ties to Chinese
military, barring U.S. investors from holding its shares 
    ** LKCO says Nasdaq confirms that any restrictions for U.S.
investors will not be effective until May 8
    * LKNG has initiated a federal court case challenging Trump
administration's order, which it termed 'unlawful'
    ** Global index publisher FTSE Russell said last week it
will delete LKCO shares from the FTSE Global Total Cap and Micro
Cap indexes, effective March 12, in line with the previous
administration's order  urn:newsml:reuters.com:*:nL2N2L30PV
    ** Including session's gains, stock has gained ~51% so far
this year

 (Reporting by Munsif Vengattil in Bengaluru)
 ((munsif.vengattil@thomsonreuters.com))