TuanChe Ltd
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Communication Services : Media |
Based in China
Company profile

TuanChe Limited is a China-based company principally operates an omni-channel automotive marketplace. The Company mainly provides integrated marketing solutions and virtual dealership services. Its integrated marketing solutions include transaction-facilitating auto shows. The Company mainly conducts its businesses through two segments: Auto Shows and Group-purchase Facilitation segments. Its auto shows involves four phases: annual planning, event request initiation, event planning and event execution. Its services in virtual dealership includes distribution channel expansion services for automakers and sourcing services for secondary dealers. Its online platform consists of its Website tuanche.com, its official WeChat account, its WeChat mini-program and its mobile applications.

This security is an American depositary receipt
ADR Fees
American Depositary Receipt (ADR) Fee

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Closing Price
$0.9497
Day's Change
0.0127 (1.36%)
Bid
--
Ask
--
B/A Size
--
Day's High
1.18
Day's Low
0.86
Volume
(Heavy Day)
Volume:
556,904

10-day average volume:
57,365
556,904

UPDATE: Kodak's stock tumbles again, after disclosure that investors have converted debt into nearly 30 million common shares

1:23 pm ET August 3, 2020 (MarketWatch)
Print

Shares of Eastman Kodak Co. (KODK) were down 24% in afternoon trading Monday, putting them on track for a third straight double-digit percentage decline, after the digital printing and film company, which is getting into the pharmaceutical-ingredients business, disclosed that holders of convertible notes were exercising their right to convert those notes into common stock. The stock has now dropped 50% since skyrocketing sixteenfold in three days to $33.20 on July 29, after the Trump administration announced on July 28 that Kodak had received a $765 million loan (http://www.marketwatch.com/story/kodaks-stock-triples-as-company-announces-pandemic-plan-to-start-making-pharmaceutical-ingredients-2020-07-28) as part of a Defense Production Act directive to loosen the reliance on foreign sources for pharmaceutical ingredients. In an 8-K filing with the Securities and Exchange Commission (https://www.sec.gov/Archives/edgar/data/31235/000156459020035292/kodk-8k_20200729.htm) on Monday, Kodak said the holders of the 5.00% convertible notes due 2021, which were issued in May 2019, are converted a total of $95 million of the notes into 29.9 million shares of Kodak common stock, on July 29. That would imply a value of $3.175 per converted share, while the stock was currently trading at $16.58. On July 27, Kodak granted Chief Executive James Continenza options to buy Kodak stock at various strike prices, which are now all in the money, to "protect" him from dilution (https://www.sec.gov/Archives/edgar/data/31235/000089183920000226/xslF345X03/edgar.xml) of his share holdings, in case the convertible debt issued in May 2019 were converted into stock. Kodak's stock has now rallied nearly fourfold (up 256.6%) year to date, while the S&P 500 has gained 2.0%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

August 03, 2020 13:23 ET (17:23 GMT)

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