China XD Plastics (CXDC) Drops 14%: What’s Your Next Step?

China XD Plastics (CXDC) stock was falling from $0.8599 on August 11 to $0.5512 on August 20 with the average volatility. After, it is still trading at that level but with high volatility. On September 2, China XD Plastics Company Limited made an announcement about getting a letter from the Listing Qualifications Department of the Nasdaq Stock Market. In the letter, it is said that Nasdaq denied the company’s request to continue to be listed on the Nasdaq list. However, the company decided to ask for a hearing before the Nasdaq Hearing Panel not later than the 14th of September. During this time, the CXDC will have the opportunity to prepare all the necessary documents in order to apply and to be suitable to all requirements to be listed on Nasdaq. Because of the request, the stock will be automatically suspended for 15 days. In the letter, Nasdaq said that the company did not fill its requirements, to be specific, the China XD Plastics did not fill the form 10-K for the fiscal year, which was ended on December 31, 2020.

Agneta Johansen

Agneta is still enjoying her trips to Asia and Africa while she works at Own Snap as an author and reporter. Very soon she will settle somewhere in Europe and run her startup enterprise.

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