New York, May 27, 2026, 16:08 EDT
- Smart Digital Group Limited stayed on the current U.S. trading-halt list under “News pending.”
- Nasdaq earlier reported SDM’s last sale at $1.85. Trading will stay halted until the company answers a request for more details.
- A May filing showed the company has changed out both its CEO and chairman.
Smart Digital Group Limited (SDM) shares stayed halted on Nasdaq on Wednesday. The Cboe halt table kept SDM under “News pending” after the halt on Sept. 26, 2025. With the halt in place, trading is suspended and there’s no current market price for investors. Cboe Global Markets
This is notable since Wednesday wasn’t a U.S. market holiday. Nasdaq shows May 25, Memorial Day, as the 2026 closure, with normal trading back on this week. SDM still didn’t trade—this is about the stock, not a market-wide halt.
Nasdaq said in October it had halted trading in Smart Digital because it wanted more information from the company. The exchange noted the SEC also suspended trading in the stock from Sept. 29 to Oct. 10. The last sale for the ordinary shares was $1.85.
The SEC said it temporarily suspended SDM trading because of possible manipulation tied to social-media tips from unidentified parties aiming to boost the stock’s price and trading volume. The agency told broker-dealers, shareholders and buyers to consider this along with all other available disclosures.
Smart Digital doesn’t see much trading. Robinhood listed SDM at $1.85, putting its market cap near $58.7 million. Volume was zero. The 52-week range was $1.50 to $29.40.
Smart Digital’s last sale price has dropped below its $4 IPO price. The company sold 1.5 million ordinary shares in its May 2025 IPO. Shares had been cleared for listing on the Nasdaq Capital Market with the ticker SDM.
Management churn surfaced in the latest material filing from Smart Digital. The firm said Yunting Chen quit as CEO on May 8, while Sam Wai Hong stepped down as chairman and director a day later. Both cited personal reasons, and the company said there were no disagreements over company operations, policy or practices.
The board named Yiwei Wang as CEO and picked Lin Kon Fatt as chairman and director, according to the same filing. The company said there are no known family ties or arrangements connected to the new roles.
Smart Digital calls itself a digital marketing company, offering internet media services like marketing planning, campaigns and analysis on online platforms. The company’s annual report showed 2025 revenue up 72.9% from the year before. Smart Digital said growth was mainly due to more business in internet media services in mainland China. But net loss came in at around $37.85 million, after share-based compensation and a higher credit-loss allowance.
Competition is there, but it’s not the main story next to the halt. Smart Digital said its units go up against big and small digital marketing names, including international ad groups like WPP, Wunderman Thompson, and VMLY&R, plus local players in Macau and Singapore.
The risk is clear: Lifting the halt could hit SDM with sudden price discovery after months with no regular trading. If SDM does not answer Nasdaq’s information request, liquidity stays stuck and the stock stays tough to price from public data.
