Tag: Today

Why Luokung Technology Stock Soared Today

What happened

Shares of Luokung Technology (NASDAQ:LKCO) were climbing today as investors got a shot of hope that the company could stave off a delisting from the Nasdaq exchange, following an earlier order from the Department of Defense requiring a group of Chinese companies providing aid to the Chinese military to be delisted.

The stock was up 42.5% as of 10:47 a.m. EDT today on the news.

A stock chart going up

Image source: Getty Images.

So what

Xiaomi (OTC:XIACY), the Chinese smartphone maker and one of the companies on the Pentagon’s blacklist, got a win in court late Friday after a judge temporarily

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Why Luokung Technology Stock Plunged Today

What happened

Luokung Technology‘s (NASDAQ:LKCO) stock price fell 26% on Wednesday after the Chinese provider of location-based services for autonomous vehicles announced a massive stock offering. 

So what

Luokung’s shares more than quadrupled in value after its acquisition candidate, eMapgo Technologies, said on Feb. 4 that it would work with Beijing New Energy Automobile to co-develop mapping services for electric vehicles. 

A person is pointing to a stock chart that rises sharply and then falls.

Luokung Technology gave up some of its recent gains on Wednesday. Image source: Getty Images.

This morning, Luokung moved to cash in on its recent share price gains by conducting a $100 million direct offering. Luokung will sell

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LKCO Stock: 5 Things to Know About Luokung Technology as Shares Rocket Today

Luokung Technology (NASDAQ:LKCO) stock is on the rise Tuesday despite a lack of news concerning the company.

a stock image of a person working on data charts using a futuristic computer.

Source: Shutterstock

The increase in price for LKCO stock comes alongside heavy trading of its shares. As of this writing, more than 144 million shares of the stock have changed hands. That’s a massive jump over the company’s daily average trading volume of roughly 6 million shares.

So why exactly is LKCO stock up today? While the reason is unclear, it could be continued moment from the company’s direct offering of shares. That was announced on Feb. 5 and LKCO stock

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Why Luokung Technology Stock Jumped Today

What happened

Shares of Luokung Technology (NASDAQ:LKCO) were moving higher Friday after the Chinese provider of location-based services for autonomous vehicles and drones announced another share offering. As of 1:15 p.m. EST, the stock price was up 35% to $1.62.

A drone carrying a cardboard box

Image source: Getty Images.

So what

In a press release Thursday, Luokung said it would float a direct offering of 16.9 million shares at $0.88 per share, raising $15 million for the company. Those investors will also receive warrants to buy an additional $9.375 million worth of shares at $1.11 per share at a later time. Proceeds from the stock

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Why Rackspace Technology Stock Popped Today

What happened

Shares of Rackspace Technology (NASDAQ:RXT) have popped today, up by 12% as of 12:30 p.m. EST, after the Oppenheimer initiated coverage on the stock with an outperform rating alongside a price target of $28, which represents over 40% upside from yesterday’s close. The company separately said that it was refinancing some debt.

So what

Analyst Timothy Horan is bullish on Rackspace as a pure-play way to invest in enterprise public cloud adoption. The technology specialist offers a multicloud service that supports all three of the major public cloud infrastructure providers. Companies need to shift to cloud-native operations or

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