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Tag: Luokung Technology

  • Luokung Technology Corp. (LKCO) Stock Skyrockets Following eMapgo Acquisition and Chiangjiu Contract

    Luokung Technology Corp. (LKCO) Stock Skyrockets Following eMapgo Acquisition and Chiangjiu Contract

    Luokung Technology Corp. (LKCO) stock prices were up by a massive 22.16% as of the market closing on June 18th, 2021, bringing the price per share up to USD$2.37 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock surge by another 16.03%, bringing it up to USD$2.75.

    CCMC Designation Removed

    After a long and drawn-out battle, the company announced on June 15th, 2021 that the U.S. Department of Defense (DoD) had removed LKCO’s designation as a Communist Chinese Military Company (CCMC). Furthermore, stemming from the company’s omission from Executive Order 14032, LKCO and its shareholders no longer find themselves at the mercy of restrictions pursuant to Executive Order 13959. Executive Order 13959 is amended and superseded by Executive Order 14032.

    Settling of Lawsuit

    With this development, LKCO and the government Defendants have filed a joint stipulation that will see their lawsuit voluntarily dismissed, bringing it to a close. The ongoing lawsuit is in regard to the challenging of the CCMC designation. In light of the foregoing by the DoD, the company has regained eligibility for inclusion in the FTSE GEIS (Micro Cap) index. Re-inclusion into the index is expected upon the opening of markets on June 21st, 2021.

    Expanded Scope of LKCO

    The favorable outcome will be welcomed by both the company and its investors, with an additional update on continuing operations expected in the upcoming few weeks. The company is confident that the market potential for its spatial-temporal technology will only continue to grow, due to the explosive expansion of the scope of autonomous applications.

    Acquisition of eMapgo

    The company also recently announced the closing of its acquisition of eMapgo Technologies, the industry leader with its position in the Advanced Driving Assistance System. LKCO is hopeful that the combination of their core technology in conjunction with eMapgo’s ADAS and autonomous driving industry experience will translate into unprecedented growth.

    Chiangjiu Expressway Contract

    LKCO is a leading spatial-temporal intelligent big data services company, having established itself as a leading provider of LBS and HD maps for a myriad of industries in China. June 18th, 2021 saw the company announce the entering into a contract that will see LKCO deliver a new generation traffic control network for the Changjiu Expressway. As per the contract, the newly acquired EMG will be responsible for the development and implementation of a 3D real-life highway digital management system.

    Future Outlook for LKCO

    Rejuvenated by the removal of its looming CCMC designation, LKCO is poised to continue its previous trajectory of success. In light of its recent acquisition and expansion of it market footprint, the company is keen to usher in unprecedented growth. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Luokung Technology Corp. (LKCO) Stock Newest Target of Meme Stock Phenomenon Amid CCMC Legal Dispute

    Luokung Technology Corp. (LKCO) Stock Newest Target of Meme Stock Phenomenon Amid CCMC Legal Dispute

    Luokung Technology Corp. (LKCO) stock prices stayed stable over the course of June 11th, 2021, with no change in the opening and closing price. Pre-market fluctuations, however, saw the stock skyrocket by 17.51%, bringing it up to USD$2.08.

    Meme Stocks on the Rise

    The meme stock phenomenon continues to dominate the stock exchange, with a slew of stocks being targeted for a coordinated pump by the Reddit-driven retail investors. Underdogs with a high short interests find themselves fortuitously bolstered as the community of investors continues to target companies without a logical basis for their support. In the absence of recent news or any fundamental developments, companies sometimes on the brisk of collapse find themselves renewed by the sweeping meme stock craze.

    CCMC Designation

    LKCO’s recent skyrocketing of equity value comes after turbulent several weeks, following the company’s announcement of the halting of the trading of its common shares on stock exchanges. This restriction was imposed on the company after it had been given a Communist Chinese Military Company (CCMC) designation. Because of this designation, LKCO finds itself at the mercy of Executive Order 13959.

    Resisting CCMC Designation

    A joint complaint was filed by LKCO and two U.S. shareholders with the United States District Court for the District of Columbia, who are seeking to reverse this designation. As per the complaint, the U.S. DoD’s designation of LKCO as a CCMC and the resulting restrictions authorized by Executive Order 13959 by former President Trump are both in violation of the law.

    Request for Preliminary Injunction

    Because of the resolution of the lawsuit being too far in the future, LKCO has filed a motion for a preliminary injunction that will defer the CCMC designation and associated trading restrictions until the case has been settled. While the company is confident of an outcome in their favor, they argue that the failure to issue an injunction could end up having unmerited and disastrous effects on the company’s balance of equities, as well as their public interests.

    Preliminary Injunction Granted

    May 6th, 2021 saw the company announce that their previously announced motion for a preliminary injunction was granted. Following the ruling, the Department of Defense and other government defendants are prohibited from implementing or enforcing the designation of LKCO as a CCMC, or any consequential restrictions pursuant to Executive Order 13959.

    Future Outlook for LKCO

    Armed with the fortuitous surge in the value of their equity, LKCO is poised to capitalize on the opportunities presented to it. The company is keen to continue its trajectory of success and usher in more organic growth over the long term. Current and potential investors are hopeful that the management will leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.

  • Pre-Market Cues: 32 Stocks Roaring for Change On December 1st

    Pre-Market Cues: 32 Stocks Roaring for Change On December 1st

    China Automotive Systems Inc. (CAAS) stock soared 2.38% to $10.75 in the pre-market trading after reporting that it shipped approximately 120,000 units from its portfolio of electric power steering products for use in Chinese electric vehicles during 2020. The most recent rating by Brean Murray, on August 15, 2011, is a Hold.
    Before the trading started on December 01, 2020, G1 Therapeutics Inc. (GTHX) is up 4.05% to reach $19.0. It has been trading in a 52-week range of $8.80 to $31.38.
    Sundial Growers Inc. (NASDAQ: SNDL) shares are trading up 29.83% at $0.947 at the time of writing following the announcement its elimination of senior secured second lien convertible notes. Company’s 52-week ranged between $0.14 to $3.88.
    Jaguar Health Inc. (JAGX) grew over 69.45% at $0.5929 in pre-market trading today.
    SuperCom Ltd. (SPCB) stock moved down -10.74 percent to $1.08 in the pre-market trading and the company recently declared that it has secured a contract to provide its PureSecurity Electronic Monitoring (EM) suite in Wisconsin.
    MicroStrategy Incorporated (NASDAQ: MSTR) shares are trading up 4.93% at $359.66 at the time of writing. Company’s 52-week ranged between $90.00 to $280.00. Analysts have a consensus price target of $200.
    Veritone Inc. (VERI) grew over 4.4% at $27.78 in pre-market trading today after announcing that it now supports NVIDIA CUDA for GPU-based AI and machine learning.
    Before the trading started on December 01, 2020, Creative Realities Inc. (CREX) is down -7.26% to reach $1.15. It has been trading in a 52-week range of $0.52 to $5.98.
    Moderna Inc. (MRNA) stock soared 10.32% to $168.5 in the pre-market trading after declaring that the primary efficacy analysis of the Phase 3 study of mRNA-1273 conducted on 196 cases confirms the high efficacy observed at the first interim analysis. The most recent rating by Wells Fargo, on November 23, 2020, is an Equal weight.
    VBI Vaccines Inc. (VBIV), a Biotechnology company, rose about 3.94% at $3.56 in pre-market trading Tuesday.
    Schultze Special Purpose Acquisition Corp. (SAMA) stock moved up 2.86 percent to $12.6 in the pre-market trading after reporting effectiveness of registration statement for proposed business combination with Clever Leaves International Inc.
    Celsion Corporation (CLSN) gained over 5.59% at $0.71 in pre-market trading Tuesday December 01, 2020.
    Nano-X Imaging Ltd. (NNOX) is up more than 5.22% at $64.5 in pre-market hours Tuesday December 01, 2020. The healthcare firm lately announced revised time of live demonstration at the 2020 radiology society of North America virtual annual meeting. The stock had jumped over 17.21% to $61.30 in the last trading session.
    Before the trading started on December 01, 2020, Greenlane Holdings Inc. (GNLN) is up 2.89% to reach $4.27. It has been trading in a 52-week range of $1.02 to $4.20.
    Mogo Inc. (MOGO) stock soared 3.77% to $2.75 in the pre-market trading. The firm recently declared the release of its new updated Mogo app featuring an interactive Rainforest Mode as part of the MogoCard experience. The most recent rating by Raymond James, on July 23, 2020, is an Outperform.
    Altimmune Inc. (NASDAQ: ALT) shares are trading up 9.57% at $13.4 at the time of writing. Company’s 52-week ranged between $1.60 to $35.10. Analysts have a consensus price target of $28.
    Novavax Inc. (NVAX) grew over 6.09% at $148.0 in pre-market trading today following publication its COVID-19 vaccine clinical development progress.
    Marathon Patent Group Inc. (MARA), a Capital Markets company, rose about 7.96% at $6.78 in pre-market trading Tuesday.
    Aphria Inc. (APHA) is up more than 3.46% at $8.67 in pre-market hours Tuesday December 01, 2020. The healthcare company recently revealed that it has closed the accretive, strategic acquisition of SW Brewing Company, LLC. The stock had jumped over 8.41% to $8.38 in the last trading session.
    AquaBounty Technologies Inc. (AQB) gained over 4.31% at $6.05 in pre-market trading Tuesday December 01, 2020.
    Before the trading started on December 01, 2020, ADMA Biologics Inc. (ADMA) is up 2.45% to reach $2.09 following the announcement its commencement of operations and initiation of collections at its newest ADMA BioCenters plasma collection facility located in Maryville, Tennessee. It has been trading in a 52-week range of $1.45 to $4.95.
    CureVac N.V. (CVAC) is down more than -3.12% at $101.89 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 22.29% to $105.17 in the last trading session.
    OrganiGram Holdings Inc. (OGI) gained over 4.26% at $1.47 in pre-market trading Tuesday December 01, 2020 after releasing its results for the fourth quarter ended August 31, 2020.
    FuelCell Energy Inc. (FCEL) is down more than -3.43% at $9.85 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 5.26% to $10.20 in the last trading session.
    SSR Mining Inc. (SSRM) grew over 2.12% at $18.8 in pre-market trading today. The company lately publicized that positive results of the Çöpler District master plan studies.
    Before the trading started on December 01, 2020, Entasis Therapeutics Holdings Inc. (ETTX) is up 4.35% to reach $1.92. It has been trading in a 52-week range of $1.58 to $5.64.
    Luokung Technology Corp. (LKCO) is up more than 2.93% at $0.6 in pre-market hours Tuesday December 01, 2020 after the firm reported that it won bid for Heilongjiang Institute of Technology (“HIT”) Smart Campus first phase procurement project of USD 1.3 million. The stock had jumped over 4.09% to $0.58 in the last trading session.
    Riot Blockchain Inc. (RIOT) is up more than 3.55% at $8.75 in pre-market hours Tuesday December 01, 2020. The stock had jumped over 35.20% to $8.45 in the last trading session.
    Before the trading started on December 01, 2020, Dada Nexus Limited (DADA) is down -4.28% to reach $55.47 after declaring proposed follow-on public offering of American depositary shares. It has been trading in a 52-week range of $14.60 to $56.91.
    Logitech International S.A. (NASDAQ: LOGI) shares are trading down -3.3% at $87.32 at the time of writing. Company’s 52-week ranged between $31.37 to $95.71.
    Advaxis Inc. (ADXS), a Biotechnology company, rose about 11.86% at $0.33 in pre-market trading Tuesday. The biotechnology firm recently declared closing of $9.2 million public offering.
    Arbutus Biopharma Corporation (NASDAQ: ABUS) shares are trading up 11.26% at $5.04 at the time of writing. Company’s 52-week ranged between $0.88 to $9.02. Analysts have a consensus price target of $8.