LKCO At Key LevelI know we saw a strong day today but here it is at a frequent technical level it has had a hard time breaking above before. Can it do it again?
This is where we’ve seen stocks like LKCO NASDAQ:LKCO surge this year. If you look back at the start of 2021, the penny stock was trading around $0.70 and ended up rallying as high as $3.86 last month. Similar to many stocks, Luokung shares slid during the second half of February. This was mainly in response to a $100 million financing round the company formally closed on February 22nd.
Luokong is a big data processing company designing location-based services for customers in China. Its Luokuang and Superengine brands provide spatial-temporal big data via PaaS, SaaS, and DaaS services. While things like the “Internet Of Things” has captivated tech traders, there’s something else going on with LKCO that has traders’ attention right now.
Quote Source: 5 Hot Penny Stocks To Buy Under $1 In March 2021
LKCO trade ideas
$LKCOLuokung Technology Corp., through its subsidiaries, provides location-based services and mobile application products for long distance travelers in the People's Republic of China. It offers Luokuang mobile application, a content and service distribution platform that provides content and services, such as information, entertainment, travel, e-commerce, online to offline, advertisement, and other marketing features. The company also offers software development kits and application-programming interfaces, which provide spatial-temporal big data analysis and customized map to software and mobile application developers; and spatial temporal indexing cloud service, a data-level virtualization technology. In addition, it offers information SuperEngine that includes the server engine, which enables to store, manage, and index the spatial temporal big data on the server side; and Web graphics image engine that supports transmission of graphics images, as well as display and edge computing for multi-terminal and cross-platform. Further, the company provides spatial temporal cloud platform that offers cloud services, including data storage, data resource, and platform support services, as well as supports users to aggregate multi-source spatial data, map services, and Internet of Things streaming data. Luokung Technology Corp. has a strategic partnership with Jiangsu Dianyu Information Technology Co., Ltd. to expand mobile commercial big data services in the 5G era. Luokung Technology Corp. is headquartered in Beijing, China.
$LKCO Announces $15.0 Million Registered Direct OfferingLuokung Technology Corp. Announces $15.0 Million Registered Direct Offering
today announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of approximately $15.0 million of ordinary shares at a price of $0.888 per share.
The Company will issue a total of 16,891,892 ordinary shares to the institutional investors. As part of the transaction, the Company will also issue to the investors warrants ("Warrants") for the purchase of up to 8,445,946 ordinary shares at an exercise price of $1.11 per share, which Warrants will have a term of three years from the date of issuance.
$LKCO $5.0 Million Registered Direct PlacementLuokung Announces Partnership Between EMG and Leading Electric Vehicle Manufacturer BAIC BJEV to Jointly Develop Mapping Services for Autonomous Driving
EMG recently worked with BAIC BJEV to provide HD map services in autonomous valet parking ("AVP") for BAIC New Energy vehicles. The two parties will cooperate in depth on L3 (conditional driving automation) to L4 (high driving automation) autonomous driving related projects.
finance.yahoo.com
Luokung Technology Corp. Announces $5.0 Million Registered Direct Placement
today announced that it has entered into a securities purchase agreement with certain institutional investors for a registered direct offering of $5.0 million of ordinary shares at a price of $0.52 per share. The Company will issue a total of 9,615,387 ordinary shares to the institutional investors. As part of the transaction, the Company will also issue to the investors warrants ("Warrants") for the purchase of up to 4,807,694 ordinary shares at an exercise price of $0.68 per share, which Warrants will have a term of three years from the date of issuance.
finance.yahoo.com
LKCO Announces a New Round of FinancingLKCO Announces a New Round of Financing
today announced it has entered into a preferred share subscription agreement with Daci Haojin Foundation Limited ("Daci Haojin"), the Company will issue 15 million preferred shares to Daci Haojin at USD $3.00 per share resulting in an aggregate financing of USD $45 million of gross proceed to the Company.
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The first installment for an aggregate amount of $13,500,000 is expected to occur on July 31, 2020, and two subsequent installments of $13,500,000 and $18,000,000 each are expected to occur on August 31, 2020 and September 30, 2020, respectively.
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Twelve (12) months after Daci Haojin completes the payment of the consideration of the subscription,
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Daci Haojin's preferred shares will automatically converts into the Company's ordinary shares at a 1:1 ratio.
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Prior to the conversion of ordinary shares, Daci Haojin entitles the right of a fixed dividend of 8% per year (a total of one year).
www.prnewswire.com
LKCO stalls but will make a move up.Hello,
What is LKCO?
Luokung Technology Corp. is one of the global leading spatial-temporal big-data processing technology companies and a leading interactive location-based services company in China. The core brands of the Company are "Luokuang" and "SuperEngine".
My Thoughts
I am seeing a rounded bottom indicating that the decent has ended and that the bottom is in. I also see that we are making a higher low as denoted as wave 2. Wave 2 is long a drawn-out so when wave 4 happens, expect a fast drop in price.
Good Luck, Cheers!
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