New York, May 28, 2026, 17:02 EDT
- NusaTrip’s Nasdaq-listed shares remained on a current halt list Thursday, with no live trading price.
- The last reported sale price was $9.00, but the stock has not had normal price discovery since October.
- A recent filing showed NusaTrip replaced its CEO and CFO while the trading freeze continues.
NusaTrip Incorporated’s shares remained frozen Thursday, leaving investors without a tradable price for the Nasdaq-listed online travel company as a months-long halt continued after the regular U.S. session closed.
The immediate market story is not a rally or a selloff. It is the absence of trading. Cboe’s current trade suspension page listed NUTR, NusaTrip’s common stock, as a Nasdaq security halted since Oct. 8, 2025, with the reason shown as “news pending”; the page says all times are Eastern Time. A trading halt is an exchange stop in buy and sell orders, and it blocks normal price discovery, the market process that sets a price through trading. Cboe Global Markets
That matters now because NusaTrip has made corporate changes while the public market cannot test them. A filing signed May 20 said the board terminated Anson Neo as chief executive and Tan Yee Siong as chief financial officer for cause, appointed Tjin Patrick Soetanto as CEO and Wallace Tzi Chun Foo as CFO, and also replaced director Richard Hou with Xin Li.
The last sale price remains the anchor investors can see. Nasdaq said in October that NusaTrip’s last sale price was $9.00 when it halted the stock for additional information following an SEC trading suspension. Nasdaq said trading would remain halted until NusaTrip had fully satisfied the exchange’s request.
Market data still show NUTR at $9.00, with the latest trade timestamped Oct. 9, 2025, rather than Thursday’s session. That makes the quote stale, not a current market verdict.
The SEC said its temporary suspension ran from Oct. 9 to Oct. 22, 2025, and cited potential manipulation through social-media recommendations by unknown persons that appeared designed to inflate NUTR’s price and volume. NusaTrip has not been accused in that order of participating in the alleged recommendations.
NusaTrip later said it had answered Nasdaq follow-up requests and had submitted responses to an SEC voluntary document request on Jan. 20. In a February statement with majority owner Society Pass, the company said trading remained halted and that daily business operations were “normal” and not materially affected by the suspension. GlobeNewswire
The company is still young as a public name. NusaTrip priced its initial public offering in August 2025 at $4 a share, raising $15 million in gross proceeds before fees, and described itself as a Southeast Asia and Asia-Pacific travel ecosystem. At the time, then-CEO Tjin Patrick Soetanto said the IPO funds would help build a “one stop shop” by sourcing travel inventory across countries and negotiating with airlines, consolidators and hotel suppliers.
There is also a governance angle. A preliminary information statement filed with the SEC said NusaTrip approved issuing 8 million common shares to Ascendance Group Limited to acquire Ascendance Investment I Limited, with approval by SOPA Capital, holder of Series X super-voting preferred stock representing about 79.47% of voting power as of May 1. Super-voting stock gives one class of shares more votes than ordinary shares, concentrating control.
The competitive read is narrow but useful. Larger online travel peers Expedia Group and Booking Holdings traded normally Thursday and were quoted higher late in the day, underscoring that NusaTrip’s issue is company-specific rather than a broad online travel selloff.
But the risk is straightforward. If Nasdaq’s questions remain unresolved, holders stay locked in. If trading resumes after months without price discovery, the first trade could move sharply because investors will be reacting all at once to the halt, management turnover, control structure and any new information released before the reopening.
