KXIN

U.S. Stock Market Performance: U.S. stocks saw gains with the Nasdaq Composite up 0.3%, and notable movements included a 392% surge in Microvast Holdings after positive earnings, while Rumble Inc. shares dropped 15% due to disappointing results.

Global Market Trends: European and Asian markets mostly closed lower, with Japan's Nikkei 225 falling 1.66%, while U.S. mortgage applications increased by 0.5% and annual inflation rose to 2.6% in October.

U.S. Stock Market Performance: U.S. stocks saw gains with the Dow Jones up 0.44%, NASDAQ rising 0.11%, and S&P 500 increasing by 0.28%. Real estate shares surged while communication services fell, and notable earnings reports included CyberArk Software exceeding expectations.

Global Market Trends: European shares declined, with the eurozone's STOXX 600 down 0.51%, and Asian markets mostly closed lower. U.S. mortgage applications rose slightly, and annual inflation increased to 2.6% in October.

Market Performance: U.S. stocks showed mixed results with the Dow Jones up 0.1%, while the NASDAQ and S&P 500 both fell slightly. Real estate shares rose by 1.2%, but energy shares dropped by 0.9%.

Economic Indicators: The U.S. annual inflation rate increased to 2.6% in October, aligning with market expectations, while mortgage applications rose by 0.5% from the previous week.

Compliance Notification: Kaixin Holdings has received confirmation from the Nasdaq Hearing Panel that it has regained compliance with the minimum bid price requirement, following a decision made on September 12, 2024.

Monitoring Period: The company will be under a Mandatory Panel Monitor for one year, during which any future non-compliance with the Bid Price Rule could lead to immediate delisting without an opportunity for a compliance plan.

Compliance with Nasdaq: Kaixin (NASDAQ: KXIN) has received confirmation from Nasdaq that it has met the minimum bid price requirement.

Company Information: The announcement is part of a press release regarding Kaixin Auto's financial status.

Trading Halt: Kaixin Auto (KXIN) has had its trading halted due to pending news.

Recent Developments: The company has made several announcements including a share consolidation, asset and revenue changes, and has received compliance extensions from Nasdaq.

Share Consolidation Announcement: Kaixin Holdings will implement a 1-for-60 share consolidation effective October 25, 2024, with shares continuing to trade under the symbol "KXIN" on Nasdaq. Shareholders will automatically receive one ordinary share for every sixty held, with no fractional shares issued.

Company Overview: Kaixin Holdings is a prominent new energy vehicle manufacturer in China, focusing on electric passenger and logistics vehicles, and aims to enhance its international market position while promoting sustainability and innovation.

Shareholder Meeting Outcomes: Kaixin Holdings announced that all resolutions presented at its extraordinary general meeting on October 1, 2024, were passed, including plans for a Share Consolidation to comply with Nasdaq rules regarding minimum share price.

Company Overview: Kaixin Holdings is a prominent new energy vehicle manufacturer in China, focused on innovation and sustainability, producing various electric vehicles while aiming to strengthen its market position both online and offline.

U.S. Stock Market Performance: U.S. stocks showed mixed results with the Nasdaq Composite up 0.2%, while the S&P 500 fell slightly. Key sectors included a 1.3% rise in information technology, but materials shares dipped by 0.9%.

Economic Indicators: The S&P Global services PMI was revised lower to 55.2 for September, and initial jobless claims rose to 225,000, indicating potential economic concerns amidst fluctuating market conditions.

U.S. Stock Market Performance: U.S. stocks opened lower with the Dow Jones dropping over 100 points, while initial jobless claims rose to 225,000, exceeding market expectations.

Sector Movements and Global Markets: Information technology shares increased by 0.4%, whereas materials fell by 0.8%. European markets showed mixed results, and Asian markets closed mixed as well, with Japan's Nikkei gaining while India's BSE Sensex declined.

Levi Strauss & Co. Earnings Report: Levi Strauss shares fell 10.6% in pre-market trading despite posting better-than-expected earnings for the third quarter, as sales missed estimates and the company projected adjusted earnings for fiscal year 2024 slightly below expectations.

Pre-Market Stock Movements: Several stocks experienced significant movements in pre-market trading, with Conduit Pharmaceuticals rising 47.3% and EON Resources declining 17.7%, reflecting a mix of gains and losses among various companies following recent performance fluctuations.

U.S. Stock Market Performance: U.S. stocks traded lower with the Dow Jones down 0.1%, while private businesses added 143,000 jobs in September, exceeding market expectations.

Sector Movements and Commodities: Energy shares rose by 1.4%, whereas consumer discretionary shares fell by 1.4%; oil prices increased by 3.4% while gold decreased by 0.5%.

JD.com Stock Performance: JD.com shares surged 10.6% in pre-market trading, reflecting positive momentum for US-listed Chinese stocks due to recent stimulus measures and the ongoing China National Day celebrations.

Market Movements: Several other stocks experienced significant gains in pre-market trading, including Agora, Inc. (+120%) and iCoreConnect Inc. (+52.1%), while some stocks like AgEagle Aerial Systems, Inc. (-17.7%) and Akoustis Technologies, Inc. (-15.8%) saw declines.

U.S. Stock Market Performance: U.S. stocks showed mixed results with the Dow Jones falling over 200 points, while NASDAQ rose slightly. Carnival Corporation reported better-than-expected earnings, and several stocks saw significant gains or losses.

Global Economic Indicators: European shares declined, and the British economy showed slower growth with a widening current account deficit. In Asia, markets were mixed, with Japan's housing starts and industrial production declining, while China's manufacturing PMI improved slightly.

NIO Inc. Investment Announcement: NIO Inc. shares surged 12.7% in pre-market trading after announcing that strategic investors will invest 3.3 billion yuan ($470.64 million) in its subsidiary, Nio China, while NIO will also invest 10 billion yuan (about $1.43 billion) in newly issued shares of Nio China.

Pre-Market Stock Movements: Several stocks experienced significant fluctuations in pre-market trading, with Zhongchao Inc. gaining 54.6% and Ensysce Biosciences, Inc. dropping 24.7%, reflecting a mix of gains and losses across various companies.

Compliance with Nasdaq: Kaixin Holdings has received a temporary exception from the Nasdaq Hearings Panel to regain compliance with the Bid Price Rule by December 13, 2024, contingent on completing a reverse stock split by November 30, 2024.

Milestones for Compliance: The company must obtain shareholder approval for the reverse stock split by October 1, 2024, and if compliance is not achieved by the deadline, its securities will face delisting.

Temporary Exception Granted: Kaixin Holdings received a temporary exception from the Nasdaq Hearings Panel to regain compliance with the Bid Price Rule by December 13, 2024, contingent on specific milestones including shareholder approval for a reverse stock split by October 1, 2024.

Consequences of Non-compliance: If Kaixin Holdings fails to meet the compliance requirements by the deadline, its securities will be delisted from the Nasdaq Stock Market.

Temporary Exception Granted: Kaixin Holdings received a temporary exception from the Nasdaq Hearings Panel to regain compliance with the Bid Price Rule by December 13, 2024, contingent on obtaining shareholder approval for a reverse stock split by October 1, 2024, and maintaining a $1 closing bid price thereafter.

Company Overview: Kaixin Holdings is a prominent new energy vehicle manufacturer in China, focusing on innovation and sustainability while aiming to strengthen its market position through diversified operations and a combination of online and offline strategies.

Delisting Notification: Kaixin Holdings received a notification from Nasdaq regarding non-compliance with listing rules due to its securities closing at $0.10 or less for ten consecutive trading days, leading to a potential delisting unless an appeal is made by August 26, 2024.

Appeal and Compliance Efforts: The company has requested a hearing to appeal the delisting decision, scheduled for October 3, 2024, and is considering options such as a reverse stock split to regain compliance with Nasdaq listing requirements.

Compliance Issue with Nasdaq: Kaixin Holdings received a letter from Nasdaq stating it is not in compliance with listing rules and faces potential delisting unless an appeal is made by August 26, 2024.

Appeal Request Submitted: The company has requested a hearing to appeal the delisting determination, which will be heard on August 21, 2024.