Why Bilibili Stock Was Falling This Week
Shares of Bilibili (NASDAQ: BILI) were down 11.7% week to date through Thursday's close, according to data provided by S&P Global Market Intelligence.
The online video platform was one of more than 80 companies that was added this week to the Securities and Exchange Commission's (SEC) list of companies that could be delisted from U.S. stock exchanges if they do not comply with U.S. auditing standards over a period of three consecutive years.
The threat of expulsion from U.S. exchanges has pressured several top Chinese stocks over the last year. The SEC's move to name Bilibili as a commission-identified issuer under the Holding Foreign Companies Accountable Act came after the company filed its annual report.
Source Fool.com
