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Luokung Technology ( (LKCO) ) has issued an announcement.
Luokung Technology Corp. reported a significant decline in revenue for the first half of the 2024 fiscal year, with a 78.2% decrease compared to the same period in 2023. Despite the revenue drop, the company reduced its net loss by 48.4% year-over-year, highlighting efforts in business adjustments and plans for asset and debt restructuring. These strategic changes aim to strengthen its smart city and IoT-related businesses, potentially impacting its market positioning and future operations.
More about Luokung Technology
Luokung Technology Corp. operates primarily in the smart transportation sector, focusing on providing map data licensing, autonomous driving simulation and testing services, and map service platform deployment. Its market focus includes supporting location-based applications and compliance services for autonomous vehicle systems.
YTD Price Performance: 18.78%
Average Trading Volume: 80,996
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.41M
See more insights into LKCO stock on TipRanks’ Stock Analysis page.
