Lufax Holding Ltd ADR (LU)

Shares of Lufax Holding Ltd ADR (LU) dropped by 10.99% from $3.54 to $3.16 in the trading on Monday, December 18, 2023. The reason why LU down today is due to the New York Stock Exchange (NYSE) notifying the company that it fell below its listing standards because of the trading price of Lufax's American depositary shares (ADSs). The notice will not immediately impact the listing, and the ADSs will continue to trade on the NYSE. Lufax has a six-month Cure Period to regain compliance by achieving a closing share price of at least US$1.00 per ADS and an average closing share price of at least US$1.00 per ADS over a 30 trading-day period. Failure to do so may lead to NYSE suspension and delisting procedures. However, Lufax's recent change in the ADS Ratio, which became effective on December 15, 2023, is expected to help it regain compliance within the Cure Period.

Shares of Lufax Holding (LU) dropped by 19.16% from $1.02 to $0.8246 in the trading on Tuesday, Novemeber 14, 2023. The reason why LU is down today is due to disappointing third-quarter results. In Q3 2023, LU reported a total income of RMB8,050 million (US$1,103 million), a significant decrease from the RMB13,193 million in the same period in 2022. Additionally, its net profit plunged to RMB131 million (US$18 million) in Q3 2023, down from RMB1,355 million in Q3 2022. Operational highlights revealed a decrease in loan balances, an increase in risk exposure, and mixed delinquency rates. These factors contributed to the negative sentiment surrounding LU's stock.

Lufax Holding's (LU) stocks declined 5.92% to $1.44 on Monday, leading to a fall of 5.6% this week following the decline in EPS overtime.

https://finance.yahoo.com/news/market-not-liking-lufax-holdings-111207590.html