On May 19, 2021, Wunong issued a press release “announc[ing] that it received written notification on May 18, 2021, from The Nasdaq Stock Market LLC that it no longer complies with Listing Rule 5250(c)(1) for continued listing in that it has failed to file its annual report on Form 20-F for the year ended December 31, 2020.” Wunong advised investors that “[t]he Company is working aggressively to complete its audit and file its annual report on Form 20-F by June 30, 2021 and accordingly, regain compliance with the Nasdaq Rules ahead of the deadline to submit its plan to regain compliance.”
On this news, Wunong’s stock price fell $0.48 or 6%, to close at $6.98 on May 20, 2021.
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