Luokung Technology (LKCO) Stock Soars 25% On Favorable Court Ruling

Luokung Technology Corp (NASDAQ:LKCO) stock is making a big move in the pre-open session on s favorable court ruling granting preliminary injunction.

Luokung Technology (LKCO) Stock Soars 25% On Favorable Court Ruling

Luokung Technology announced that Luokung’s previously announced motion for a preliminary injunction was granted by the US District Court for the District of Columbia.

In its ruling, the Court explained that it was preliminarily enjoining “the prohibitions against Luokung in full.” As a result of the ruling, the Department of Defense and other government defendants are enjoined from implementing or enforcing the designation of Luokung as a Community Chinese military company, and the resulting restrictions pursuant to Executive Order 13959.

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Upon receipt of the Court’s decision, Luokung contacted Nasdaq senior management to inform it of the action taken by the Court and requested that Nasdaq reconsider the delisting determination that it previously issued.

LKCO stock is up 25% at $1.85 in the pre-open session.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life