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