CooTek (Cayman) Inc. (CTK), a mobile internet company operating in the US, has increased by 9.00% in the premarket trading session and is trading at $0.2265 at the time of the writing. During Monday’s regular trading session, the stock declined by 2.85% to close the day at $0.21. Recently, the company has announced the date for reporting Q4 and FY 2021 results.
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When Q4 and FY 2021 Results be Reported?
On Monday, CTK announced that it would report the results for the fourth quarter of the fiscal year 2021 as well as for the full year 2021, which came to an end of 31st December 2021, on 15th of March 2022. The press release said that the management of the company would host a conference call on the same date to discuss the results.
Accolade for CTK Invested Game
On 28th January 2022, CTK announced that a mobile game invested by it, Love Fantasy, has topped the list of most Most Downloaded iOS Chinese Overseas Games during December 2021. The game was downloaded 2.5 million times, which depicts a 216.5% increase on a month-over-month basis. The game was placed second on Google play among the most downloaded Chinese Overseas Games, with an increase of 238.1% on a month-over-month basis.
Receipt of Non-Compliance Letter
On 14th January, CTK announced that it had received a letter from New York Stock Exchange (NYSE). The letter has notified the company that it is below compliance standard because of its total market capitalization as well as shareholder’s equity. Alongside, the letter also said that the due date for the company to submit a business plan that would demonstrate its compliance is the 5th of April 2022. The applicable cure period for the company to regain compliance would get expired on the 5th of July 2023.
What Lies Ahead for CTK?
Looking towards what’s coming ahead, analysts are of the view that at the moment, CTK stock holds several negative technical indicators and hence, is expected to decline in the next couple of weeks. So investors should take careful decisions regarding investment in CTK stock.
