China Finance Online Co. Ltd. (JRJC) is an innovative digital financial services provider to investors. The company focuses on fintech-powered digital access to wealth management tools along with providing a financial database to customers. The company also offer basic financial software and securities investment advisory platform to investors.
The price of JRJC stock during the regular trading on January 20, 2022, was last checked to be $4.07 with a 37.02% drop.
JRJC: Events and Happenings
On January 20, 2022, JRJC reported the receipt of notification from NASDAQ regarding the delisting of the company’s ADSs on January 19, 2022. The delisting was done subsequently after the applicable appeal time period had been lapsed. The company also announced that NASDAQ suspended the business in the company’s ADSs with effect from January 21, 2022.
On December 27, 2021, JRJC reported about its entry into a securities acquisition contract for private placements of 110 million of the company’s ordinary shares and warrants. The shares were purchased for approximately $13.2 million at a public price of $6.00 per share. The warrants were acquired at an exercise price of $7.60 per share.
JRJC: Key Financials
On Nov. 29, 2021, JRJC reported its financial results for the first half ended June 30, 2021. Some of the key updates are as follows
Revenue
Net revenues for H1 2021 were $14.8 million compared to $19.6 million for the same period of 2020.
Net Loss per Share
Basic and diluted net loss for H1 2021 was $5.1 million or $2.19 per share as compared with a net loss of $3.4 million or $1.41 per share in the same period of 2020.
On October 7, 2021, JRJC reported about the receipt of notification from NASDAQ regarding the grant to the Company’s application to phase down to the Nasdaq. On September 14, 2021, JRJC reported raising approximately $1.17 million for added working capital from the company’s management and an investor in August and September.
Conclusion
JRJC stock dipped 56% from the last six months as a result of the economic recession, the main factor of which is pandemic. The current early trading dip of the company’s stock is the result of the receipt of notification of delisting from the NASDAQ. The analysts are hoping that the company will regain its listing status with the NASDAQ to improve its rating among the investors’ circle.
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