Baidu and iQIYI Stocks Slid in Premarket Trading

Tiger Newspress2022-03-31

The Securities and Exchange Commission on Wednesday added Baidu Inc. to a growing list of companies that may get kicked off American stock exchanges.

The SEC’s publication of the businesses’ names is required by a 2020 U.S. law that started a three-year clock for firms to comply with inspection requirements that cover all public companies in the U.S. The SEC also added Futu Holdings Limited, Nocera Inc., iQIYI Inc. and CASI Pharmaceuticals Inc. to its provisional list for possible delisting.

Wall Street’s main watchdog has long been expected to crack down on about 200 New York-traded firms with parent companies based in China and Hong Kong because the jurisdictions refuse to allow the inspections. Still, the SEC’s recent publication of companies has jarred investors who’d been hoping for a deal between regulators in Beijing and Washington.

Baidu and iQIYI stocks slid in premarket trading Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • 来人
    2022-03-31
    来人
    Oh oh
  • Derrick3388
    2022-03-31
    Derrick3388
    Nothing shock... just expect & price in all Chinese stocks will be delisted within 2 years time
  • Desmorado
    2022-03-31
    Desmorado
    Jiak Sai Liao.....
  • BABASheep
    2022-03-31
    BABASheep
    Expected and explained. No surprises, all 249 Chinese ADRs will be on that list. Empty bottles, PCAOB. Show some resolves instead of flogging a dead horse.
  • Bluemountain
    2022-03-31
    Bluemountain
    Like please 
  • dzgunners95
    2022-03-31
    dzgunners95
    Cool
Leave a comment
10