Lion Group Slides Under $1; Traders Eye Tuesday’s Open
Lion Group Holding Ltd. shares on Nasdaq finished Friday at $0.8021, down 2.66%, with the price staying under $1 going into the three-day U.S. market break. The week ended with the stock about flat. Trading jumped Thursday to 9.6 million shares, then dropped to 205,562 shares on Friday, ahead of the Memorial Day market closure. Lion has already flagged Nasdaq’s minimum bid price requirement for investors. In its annual report, the company said its American depositary shares, or ADSs, have to keep a closing bid of at least $1.00. If they close below $1 for 30 straight trading days within a year after a reverse split, delisting could speed up.