Luokung Technology Corp. (LKCO) a leading interactive location-based services and big data processing technology company specializing in DaaS intelligent services, announced that it has regained compliance in accordance to Nasdaq Capital Market’s minimum bid price requirement.LKCO regained approval as the closing bid price of its ordinary shares were at $1.00 or higher as per share minimum requirement from March 11th to April 8th, which accounts for 20 consecutive business days.
Nasdaq stated that Luokung has regained compliance in accordance with Nasdaq Marketplace Rule 5550(a)(2), and Nasdaq considers the matter to be closed. LKCO stock surged adjacent to the news.
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Luokung Technology Corp. (LKCO) shares climbed a staggering 5.82% to trade at $1.09 in the current market at the last check. LKCO Stock has soared 94.71% over the past six months, bringing its current market capitalization to $348.85M
About Luokung Technology Corp.
Luokung Technology Corp. is one of the globally leading spatial-temporal big-data processing technology companies, serving smart cities and transport by establishing twin holographic data. It also provides a leading interactive location-based services company in China and is based on patented technology.
Luokung has also acquired 100% equity interests in EMG last month, which is now a subsidiary of the Company. EMG’s detailed data and HD map services capabilities used with Luokung’s advanced spatial-temporal big-data processing capabilities complement each other perfectly, providing Luokung with distinctive competency in the space of autonomous driving and location-based intelligent transportation.
LKCO offered a better-than-expected outlook for the current quarter and anticipates sales and profits to grow for the full year after regaining compliance in accordance to Nasdaq Capital Market’s minimum bid price requirement. In addition, acquiring 100% equity interests in company’s such as EMG has further raised investor expectation for Luokung Technology Corp.