LKCO - Why Luokung Technology Stock Fell Today
Shares of Luokung Technology (NASDAQ: LKCO) pulled back today after the Chinese mapping-technology company's first-half report indicated it could be facing a cash crunch. Luokung stock closed the day down 10.4%.
The company reported revenue of $37.8 million for the first half of the year, up from $7.3 million, which was helped by the acquisition of eMapGo Technologies, a provider of navigation and mapping services and an innovator in autonomous-vehicle technologies.
Net loss in the period expanded from $18.9 million to $26.7 million and was unchanged on a per-share basis at $0.09.
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Why Luokung Technology Stock Fell Today