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Tag: SECO

  • Secoo Holding Limited (SECO) stock Rallies After Hours Following Board Changes Announcement

    Secoo Holding Limited (SECO) stock Rallies After Hours Following Board Changes Announcement

    Secoo Holding Limited (SECO) stock became bullish in the after-hours, following the announcement of board changes. Hence, the stock gained 8.03% after hours at $0.4198, on December 28, 2021.

    During the regular session, the stock traded in the red with a loss of 15.50% at the closing price of $0.3886 apiece. The day’s volume remained just below the 65-day average at 235.56K shares.

    The online integrated upscale products and services platform, SECO, has a market capitalization of $32.49 million. Currently, the company has 57.51 million outstanding shares in the market.

    SECO’s Board Changes

    As per Tuesday’s announcement, the company has made some changes to its Board of Directors. Mr. Jianji Liu has been appointed as an independent director to the board. Moreover, Ms. Qi Zhu and Mr. Jian Wang’s resignation has also been approved by SECO’s board. All the changes including the resignations are effective as of December 28, 2021.

    In addition, Mr. Jianji Liu will also replace Mr. Jian Wang’s positions on the audit and corporate governance committees of the board.

    Mr. Liu has served with multiple companies including Shenzen Jinxin Guotou Fund Management Co., Ltd, Wumart Commercial Finance Co., Ltd., China Automotive Finance Co., Ltd., and many others.

    Nasdaq Notice

    On December 20, SECO announced receiving a written notification from Nasdaq dated December 17, 2021. As per the notification, the company’s ADSs price has been below US$1.00 for consecutive thirty days. Hence, the company’s ADSs are below the minimum bid requirement for listing on Nasdaq as per the Listing Rule 5450(a)(1). Moreover, the company has 180 days (till June 15, 2022) to regain compliance with Nasdaq Listing Rules. Further, the company can regain compliance after its ADS closing price is US$1.00 or above for ten consecutive days during the given period.

    Hence, SECO further announced to monitor its share price and regain compliance within the 180-day grace period. Currently, the company is evaluating its options for the purpose including an adjustment of its ADS-to-Class A ordinary share ratio.

    SECO’s Annual SEC Filing

    On November 09, SECO announced to have filed its annual report on Form 20-F for the fiscal year ended on December 31, 2020. Moreover, the filed report with SEC comprises of the company’s audited consolidated financial statements.

    As per the report, SECO had a basic and diluted net loss per ADS of $0.18 on revenue of US$922,556 in the above-mentioned period.

  • Early Morning Vibes: Check Out These 4 hot Stocks Right Now

    Early Morning Vibes: Check Out These 4 hot Stocks Right Now

    On December 24, American stock indices closed in the green. The S&P 500 Index climbed 0.35% to 3690 points, the Dow Jones added 0.23%, the NASDAQ 0.29%. The news background on the eve of Christmas was weak. Fiscal stimulus prospects continued to be supportive. The tech sector was one of the growth leaders with 0.75%, while the energy sector looked the weakest and lost 0.63%.

    Corporate news

    The State Administration for Market Regulation of the People’s Republic of China has suspected Alibaba Group (BABA: -13.4%) of violating antitrust laws. At the same time, the People’s Bank of China demands to reform the business of the fintech division of Alibaba Ant Group.

    The FDA has paused clinical trials for an anti-clotting vaccine developed by Altimmune (ALT: -9.3%) and is demanding additional data. 

    Today, world stock markets are showing mostly positive dynamics. On Sunday, December 27, President Donald Trump signed into law a $ 900 billion economic support bill that will include a one-time payment of $ 600 per person to Americans. Earlier, the president insisted on increasing the amount of payments to $ 2,000. A vote in Congress on this issue will take place today. If approved, this measure will be included in a separate bill. However, it is unlikely that the Republicans will support the initiative. Trump’s approval of the stimulus package is positive for the stock market, but some of these expectations have already been incorporated into quotes, and no new stimulus is expected in the short term. Thus, market response to these developments will be very limited, especially given the reduced volatility and trading volumes.

    Investors’ attention from the stimulus package will gradually shift to the front of the fight against coronavirus. According to US chief infectious disease specialist Anthony Fauci, “the worst” is yet to come, as the holidays will trigger a surge in COVID-19. However, most of all investors are now interested in the rate of vaccination of the population, because if it does not correspond to the original plans, it will lead to a correction in cyclical sectors.
    Technical picture

    Technically, the S&P 500 is prone to consolidation. The trading session the day before did not change the overall picture. Volatility will remain low ahead of the New Year. The RSI and MACD indicators continue to form bearish divergence, so the risk of correction remains.

    Today Top Movers‎

    ‎NXT-ID Inc (NXTD)‎‎ is up 42.74% at $1.77 in premarket trading session on Monday.‎

    ‎Ocugen, Inc (OCGN)‎‎ reported an increase of 44.32%, with the share price at $2.54 in today’s premarket trading session following the appointment of a vaccine scientific advisory board.‎

    ‎Jaguar Health Inc (JAGX)‎‎ share price gained 21.67% at $0.87 in early morning trading session on Monday. The firm recently signed second agreement for $6 million non-dilutive financing transaction involving the sale of royalty rights related to future Mytesi (Crofelemer) and Lechlemer revenue stream.

    ‎‎Naked Brand Group Ltd (NAKD)‎‎ share price soared 1.91% at $0.21 on Monday during premarket trading session after declaring that it has been granted an additional 180-day period, or until May 24, 2021.‎

    Latest Insider Activity


    Workhorse Group Inc. (WKHS) Director Chess Raymond Joseph announced the sale of shares taking place on Dec 18 at $21.05 for some 5,000 shares. The total came to more than $0.11 million.
     

    Invitae Corporation (NVTA) President & CEO George Sean E sold on Dec 22 a total 631,018 shares at $53.06 on average. The insider’s sale generated proceeds of almost $0.19 million.
     

    Neoleukin Therapeutics Inc. (NLTX) Director BAKER BROS. ADVISORS LP declared the purchase of shares taking place on Jul 07 at $15.25 for some 424,000 shares. The transaction amount was around $6.47 million.
     

    Odonate Therapeutics Inc. (ODT) Chief Executive Officer TANG KEVIN C bought on Dec 23 a total 15,514,566 shares at $15.58 on average. The purchase cost the insider an estimated $2.17 million.

    Earnings To Watch

    Top US earnings releases scheduled for today include Secoo Holding Limited (NASDAQ:SECO). It will announce its Jun 2019 financial results. The company is expected to report revenues of $241.41M in the three-month period.