Luokung Technology jumps after Nasdaq cancels delisting plans

Luokung Technology

06/05/2021 20:58

** Shares of Chinese mapping technology company Luokung
Technology Corp  LKCO.O  jump 13.5% to a six-week high of $1.68
after Nasdaq withdraws decision to delist shares 
    ** Nasdaq-listed shares of co were slated to be suspended on
May 7 due to an imminent investment ban under the former Trump
administration, as part of a crackdown on alleged Communist
Chinese military companies  urn:newsml:reuters.com:*:nL1N2MT26H
    ** Investment ban suspended by a U.S. judge, who said
Department of Defense's designation process was flawed and the
U.S. government has not identified any technology transfers from
Luokung to the Chinese government
    ** LKCO up 145% YTD 

 (Reporting by Lisa Pauline Mattackal in Bengaluru)
 ((LisaPauline.Mattackal@thomsonreuters.com; +919945309224;
Reuters Messaging: lisapauline.mattackal@thomsonreuters.com
@reuters.net))