Why Luokung Technology Stock Popped Today
Shares of Luokung Technology (NASDAQ: LKCO) were climbing today after the Chinese mapping-technology company got a favorable court ruling in U.S. District Court this morning. As a result, the stock finished the session up 13.5%.
This morning, Luokung said that its motion for preliminary injunction was granted by the U.S. District Court for the District of Columbia. As a result of the ruling, the Department of Defense (DoD) will be prohibited from enforcing its designation of Luokung as an agent of the Chinese communist military. According to an executive order related to the DoD policy, Luokung was set to be delisted by the Nasdaq on Saturday.
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Source Fool.com
