Kaixin Auto Holdings, a Chinese used car e-commerce platform, saw its shares plummet by 13% to $1.75 after receiving a notification letter from the Listing Qualifications department of the Nasdaq Stock Market. The letter stated that the company has regained trading compliance. This news comes as a relief for Kaixin Auto, as trading compliance is a critical factor for companies listed on the Nasdaq Stock Market. Kaixin Auto Holdings operates as an online platform for buying and selling used cars in China. The recent rebound in share price signifies positive investor sentiment towards Kaixin Auto, although it is important to keep in mind the volatility of the market.

Source: Wall Street Journal September 29, 2023 18:08 UTC