CJJD has been traded below $1 for over 10 days. By exchange rules, the delist process for CJJD is already started. Two questions:
Question 1: how soon Nasdaq will issue delist notice to CJJD?
Question 2: when CJJD issues a press release to tell everyone that it has received delist notice from Nasdaq, how low CJJD will go?
I have no positions in CJJD. I feel sorry to see that all China small cap stocks have absolutely no respect on wall street. Chinese gov allow its citizen to buy LV bags but not allow them to buy Chinese companies listed in United States.
I'm a little shocked this stock might trade higher on the news. Was this priced in and the reason for the large selloff over the past 30 days?
Also...if the delisting warning was based on 30 days under $1...I see the price closed at $1.01 on 8-10-12.
I wonder if the price support today is because the company said it would do whatever needed to correct the problem? I understand this as a stock buyback from the company...but maybe JoJo's management sees other options?