Stock Delistings

The Securities and Exchange Commission has charged Shanchun Huang with allegedly inflating Future FinTech Group’s share price just before he took over as the company’s chief executive.The SEC alleged in a complaint Thursday that Huang used manipulative trading techniques in early 2020 to push the fintech firm’s share price up, with the goal of preventing it from being delisted from the Nasdaq exchange.Copyright ©2024Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 The Securities and…

Now, the party is ending. Americans’ confidence in the economy is at nearly its lowest point since the 2007-09 recession, on account of inflation-battered spending power, a cooling job market, and a stock-market dip that is hurting the finances of retirees in particular. As a result, consumers are paring back their spending on most things. That’s showing up in the revenue of companies in what might be called the “nice-to-have economy”—those companies offering the kinds of luxuries and…

Deep-sea mining for battery materials has gained significant interest over the past year, but 2023 is set to be a key turning point—both for the practice itself and the companies that are leading the campaign to exploit the ocean floor.Mining of the deep sea could be licensed worldwide as early as July of this year, despite worries that one of the world’s last largely untouched habitats could face significant harm from doing so. For startups such as Canadian miner the Metals Co., the approval could determine whether or…

As U.S.-China ties fray and decoupling trends rise, dozens of Chinese startups are going against the tide, seeking ways to expand into the U.S. and other international markets. But to avoid the kind of backlash as they expand that short-video app TikTok especially has faced, they are moving their headquarters out of China or creating a separate entity in countries such as the city-island state of Singapore. Some are also renaming themselves and dropping references to their China roots, or developing separate…

Revlon Inc. shares will be delisted from the New York Stock Exchange after a surge of market interest in the beauty-products supplier following its chapter 11 filing in June. Shares fell 5% on Thursday to close at $3.90 before the NYSE said it had denied Revlon’s appeal to stay listed on the Big Board. The stock is now expected to continue trading over the counter, according to the company, which was trading around $2 when it filed for bankruptcy but soared more than 400% the following week. It has…

GigaCloud, an online platform that connects manufacturers of bulky consumer items with buyers around the world, raised $36 million in gross proceeds after selling 2.94 million Class A shares. The deal valued the company at $486 million. The amount raised could increase to $41 million if the underwriter sells more shares to exercise the so-called overallotment options, typically when the stocks are in high demand. The company’s stock jumped in its first day of trading, ending Thursday up 28% to $15.69. Based…

The family behind luxury Italian shoemaker Tod’s TOD 20.29% SpA said it plans to take the company private as part of an effort to boost growth at the maker of high-end loafers. Chief Executive Diego Della Valle and his family on Wednesday said they were offering to pay 40 euros a share, equivalent to $40.67, to acquire 25.55% of the company’s stock and increase their holding to 90%. The acquisition would…

Two Chinese technology companies said they have resumed registering new users, the latest sign Beijing is dialing back a regulatory campaign that had hurt economic activities in the country’s tech sector.Logistics platform Full Truck Alliance and online recruitment firm Kanzhunsaid Wednesday that Chinese authorities lifted a ban preventing the companies from registering new users, signaling the end of a year-long cybersecurity probe. Two Chinese technology companies said they have resumed registering new users, the…

SINGAPORE—China is concluding a yearlong probe into ride-hailing giant Didi Global Inc. DIDI -2.97% and preparing to lift a ban on adding new users, people familiar with the discussion said, the latest sign Beijing wants to spur economic activity from its beleaguered tech giants.Chinese regulators plan as well to allow the mobile apps of Didi back on domestic app stores, the people said. The apps were removed last July when Chinese authorities opened a data-security…

Didi Global Inc.’s DIDI -2.97% bumpy ride in the U.S. public markets is over—after 11 months.The ride-hailing company marked its last day as a New York Stock Exchange-traded company Friday, according to a person familiar with the matter, after an ill-fated debut helped turn it into a poster child for China’s tech crackdown. The Beijing-based company raised about $4.4 billion in June of 2021, in one of the biggest stock sales for a Chinese company since…