- The stock price of Luokung Technology Corp (NASDAQ: LKCO) increased by over 15% pre-market. These are the details.
The stock price of Luokung Technology Corp (NASDAQ: LKCO) increased by over 15% pre-market. There is no direct news from the company.
But the company stock price has been trending upwards after President Joe Biden had issued an order on June 3 to address threats from investors that finance certain Chinese companies. About a month ago, the Nasdaq also withdrew a decision to delist the shares of Luokung Technology – which is a China-based mapping technology company.
This decision was made after a U.S. judge suspended an imminent investment ban that was imposed by the Trump administration. After that decision was made, Luokung’s shares had surged at the time.
U.S. District Court Judge Rudolph Contreras in Washington also issued a similar order in March in favor of China-based smartphone company Xiaomi Corp. After granting an injunction in the case brought by Luokung’s challenging of the ban, Contreras noted that the Department of Defense’s designation process was flawed.
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