Why TuSimple Stock Rocketed 59% Higher Today
Shares of TuSimple Holdings (NASDAQ: TSP) shot through the roof Wednesday, surging by as much as 58.8% as of 1:07 p.m. ET. Until last week, it appeared the company was on the verge of getting delisted from the Nasdaq stock exchange, and its share price dropped precipitously as investors ran for cover. However, TuSimple has managed to avert a delisting for now, and that has triggered a buying frenzy in the stock.
Last week, TuSimple received a delisting notice from Nasdaq due to its failure to file quarterly and annual earnings reports. It would be suspended from trading on May 15, said the exchange, unless the company appealed the notice. In the wake of that news, the stock plunged below the $1 mark.
So has TuSimple filed any reports or provided any updates about its potential delisting? The answer is no.
Source Fool.com
