The billionaire CEO issued a string of erratic comments, including lyrics from the Star-Spangled Banner and plans to sell his possessions.

Alibaba HK (9988 HK) was the most heavily traded stock today off -0.63% as short selling increased on speculation that US-listed shares were being converted to Hong Kong shares to be sold.

NEW YORK, May 27, 2020 -- The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that trading in CNS Pharmaceuticals Inc. (Nasdaq: CNSP) is scheduled to resume on Thursday, May 28,.

(Bloomberg) -- Luckin Coffee Inc.’s battered stock saw a renewed wave of selling on Wednesday, after Nasdaq Inc. said it planned to delist the onetime market darling that shocked investors with revelations of accounting fraud last month.The Chinese coffee chain’s shares, which had been suspended since tumbling more than 80% in early April, slumped to a record low Wednesday as trading resumed in New York. Luckin announced Nasdaq’s intention to delist the company in a statement on Tuesday, saying shares will remain on the exchange pending the outcome of an appeal hearing.The prospect of delisting is likely to trigger a rush for the exit by Luckin’s remaining shareholders, adding to a long list of challenges for the company as it tries to recover from its disclosure that senior executives fabricated about $310 million in sales. Banks including Credit Suisse Group AG, Morgan Stanley and Goldman Sachs Group Inc. are among those with money at stake, after the firms seized control of shares that Luckin’s chairman had pledged as collateral for loans.“I can’t see what else investors would do other than dump the stock,” said Hou Anyang, a fund manager at Frontsea Asset Management Co. in Shenzhen.The shares fell 36% to $2.82 Wednesday in New York trading, the lowest for the company since it went public a year ago. The stock had risen as high as $51.38 at its peak in January.Trumping ‘Looking’Luckin’s dramatic fall from grace has made the company a poster child for concerns about Chinese corporate governance, fueling a debate in Washington over the extent to which American money and capital markets should be accessible by firms from a growing geopolitical rival.President Donald Trump said last week he’s “looking at” Chinese companies that don’t follow U.S. accounting rules, while his administration moved to stop a federal retirement savings fund from investing in the Asian nation’s stocks. Nasdaq is planning new rules that would make initial public offerings more difficult for some Chinese companies.Nasdaq Set to Tighten Listing Rules, Impacting Chinese IPOs Luckin Chairman Lu Zhengyao said in a statement that he’s “deeply disappointed” Nasdaq is moving to delist the shares before his company releases final results of an internal probe into its accounting.“Luckin has reacted actively according to the initial results of the investigation, including terminating some relevant management and restructuring the board,” Lu said.‘Never Lied’“My personal style may have been too aggressive and led the companies to run too fast, which has triggered many problems,” Lu continued. “But I never lied to investors with the idea of ‘selling concepts.’ I’m working hard to make the company bigger and better to create value for society.”A Luckin representative declined to comment on the stock price. The company had a market value of about $1.1 billion based on its closing level April 6. Wednesday’s slump trimmed the company’s value to about $700 million, according to data compiled by Bloomberg.While Luckin’s stores are still operating and the company is opening new outlets, its offices in China were raided by authorities last month as part of a multi-agency investigation into its finances. Luckin fired its chief executive officer and other senior leaders last week.Read more: Luckin Coffee Still Expanding Full Steam Despite Sales ScandalIn a letter to Luckin on the delisting plan, Nasdaq cited “public interest concerns as raised by the fabricated transactions disclosed by the Company” and “past failure to publicly disclose material information.”Scandal’s WakeCar Inc., the auto-rental company founded by Lu whose stock has slumped in the wake of the Luckin scandal, dropped as much as 3.8% in Hong Kong on Wednesday. Its dollar bonds were little changed, as were Luckin’s convertible notes, according to Bloomberg-compiled prices.The selloff in Luckin shares may also spread to other U.S.-listed Chinese companies, though some of those losses could create buying opportunities, said Sun Jianbo, president of Beijing-based China Vision Capital.“As a Chinese firm which will cease to list on the U.S. market, Luckin will be virtually worthless to American investors,” Sun said. “It’d also be a sentiment shock to other Chinese ADRs, but may create bottom-fishing opportunities for some investors.”(Updates with closing share price in fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

ZoomInfo Technologies Inc expects to raise up to $801 million in its U.S. initial public offering (IPO), as the market for new issues rebounds after the COVID-19 pandemic put several debuts on hold for a couple of months. ZoomInfo follows Warner Music Group, which said on Tuesday it was aiming to sell up to $1.82 billion in stock in its U.S. IPO, potentially the largest New York listing so far in 2020.

Tensions flared up again with China, worrying investors.

Senate legislation builds in a three-year grace period, meaning New York will remain home to Chinese companies’ listings for some time.

Burning Rock Biotech on Friday filed for a U.S. initial public offering (IPO), making it the latest Chinese firm to opt for an American listing amid tighter rules by lawmakers. In a filing, the company said it intends to list its American Depository Shares on Nasdaq under the symbol 'BNR'. China's Luckin Coffee Inc said on Tuesday Nasdaq had notified the company of plans to delist it from the exchange, a month after it disclosed that some employees had fabricated sales accounts.

Trump wants Chinese companies to abide by the 2002 Sarbanes Oxley Act. Why don't they? Brazil and Russia companies do.

U.S. stock-index futures point to modest gains on Wednesday as investors get set to review quarterly corporate results from retailers Target and Lowes.

A new law working its way through Congress could ban the trading of shares in Chinese companies altogether.

SEBA Bank AG, a new Swiss based crypto focused bank that recently received its banking license has announced a partnership with Tokensoft AG, a new Swiss subsidiary of Tokensoft, a U. S. based provider of asset tokenization technology.

Aphria (NYSE: APHA) will no longer be traded through that most classic of American financial institutions, the New York Stock Exchange (NYSE). On Tuesday, the company announced that its shares will move to the Nasdaq (NASDAQ: NDAQ), beginning at market open on Monday, June 8. The stock will retain its current ticker symbol of APHA.

The two emirates are reportedly discussing a potential rescue package for the troubled Dubai economy, but what assets might be involved?

Nothing about the stock market is guaranteed, ever, but during periods of tremendous volatility, equities with squeaky clean balance sheets tend to show up on the value screens of large investors.

Banks stocks are already close to lows, signalling a credit crunch to come. Investors should be cautious.

It's a name you hear every day on Wall Street, and even still it's a company you rarely think about.

CorpGov Hosted Panel with CTEH®, Nasdaq, Columbia Property Trust and ICR As state and local governments across the country phase out restrictions and allow companies to reopen, business leaders must be prepared to meet varying regulatory compliance and employee safety rules and protocols. To help them navigate this ever-evolving guidance, CorpGov moderated the first panel in […]

NASDAQ and Intercontinental Exchange have both outperformed the broader S&P 500, with their stock declining by roughly 6% since early February after the WHO declared the Coronavirus a global health emergency. The lockdown in various parts of the world has, an…

Stifel Financial Corp on Wednesday said it partnered with Nasdaq Inc on a new private stock trading platform set to launch in June that will match buy and sell orders from its institutional clients against its retail order flow. The wealth management and investment banking firm is home to around 2,300 retail investment advisors, while also catering to 3,500 institutional clients, often referred to as buy-side investors, like hedge funds and long-only mutual funds. Rather than just sending its retail orders to wholesale brokerages for execution, as it traditionally has, Stifel plans to make them available in its own alternative trading system (ATS), hosted by Nasdaq, opening up a previously untapped opportunity for institutional orders to trade against.

Nasdaq (NDAQ) and Stifel sign market technology agreement to offer unique liquidity to clients.

Tech stocks shrug off worries about a major economic dislocation in the US as the Nasdaq Composite turns positive. Top-rated tech stocks dominate this week's top trending stocks.

Nasdaq Stock Exchange President Nelson Griggs joins Yahoo Finance’s Akiko Fujita to discuss NYSE trading floor reopening and the economic outlook as the Senate passes a bill that could force Chinese companies to delist from U.S. stock exchange.

I scan a couple of dozen quarterly 13F reports, looking for groupthink, over-speculation and concentration in specific sectors of the market and in individual stocks.

More than 100 companies from the S&P 500 index now meet the Federal Reserve’s expanded criteria set out Thursday for its main street credit facility to help shore up small and medium-sized businesses hit by the pandemic.

(Bloomberg) -- Lenders led by Credit Suisse Group AG have targeted the family assets of Luckin Coffee Inc. Chairman Lu Zhengyao as they try to recoup losses on more than $500 million in soured margin loans.Credit Suisse is seeking a court order to appoint liquidators for Haode Investment Inc., according to a notice in the BVI Gazette on Thursday. Haode, controlled by Lu’s family trust, defaulted on loans backed by Luckin shares in April, according to a statement from lenders last month. Spokespeople for Credit Suisse and Luckin declined to comment.The liquidation request adds to a long list of challenges facing Lu, who became a billionaire after his fast-growing Chinese coffee chain went public in the U.S. with help from some of the biggest names on Wall Street. Much of Lu’s wealth has been wiped out by a 92% plunge in Luckin’s stock since April, when the company disclosed that some of its employees may have fabricated billions of yuan in sales.Luckin’s fall from grace has made it a poster child for concerns about Chinese corporate governance, fueling a debate in Washington over the extent to which U.S. money and capital markets should be made accessible to firms from a growing geopolitical rival. Nasdaq Inc. plans to delist Luckin’s stock, while the U.S. Senate approved legislation Wednesday that could lead to some Chinese companies being barred from American exchanges.Lu said in a statement on Wednesday that he’s “deeply disappointed” Nasdaq is moving to delist Luckin before the company releases final results of an internal probe into its accounting. Regulators in the U.S. and China are also investigating the coffee chain, while Luckin bondholders have secured a freeze on $160.7 million in assets, according to a May 11 filing in Hong Kong.Banks that participated in the loan facility to Lu’s investment vehicle signaled in April that they plan to sell Luckin shares that were pledged as collateral. It’s unclear whether the banks have started offloading the shares or how much money they’ll be able to recoup.Credit Suisse and Morgan Stanley each put up about $100 million as part of the loan facility, while China’s Haitong International Securities Group lent about $140 million, Bloomberg reported last month, citing a person familiar with the matter. Other banks involved include Barclays Plc, Goldman Sachs Group Inc. and China International Capital Corp.Lu’s investment vehicle has disputed that it’s in default and has requested an injunction against Credit Suisse in Hong Kong to prevent the bank from commencing liquidation proceedings, according to a May 6 court filing.Few banks have seen a bigger fallout from the Luckin saga than Credit Suisse, which was the lead underwriter for Luckin’s initial public offering, a secondary share sale in January and a $460 million issuance of convertible bonds.The bank lost a high-profile Hong Kong IPO in the wake of the scandal and reported a five-fold increase in loan-loss provisions at its Asia Pacific unit, primarily due to the Luckin margin loans. The bank is conducting a review of the case, and scrutiny on loans to Chinese companies has increased, according to people familiar with the matter who declined to be named discussing private matters. China is core to Credit Suisse’s strategy to win business from rich entrepreneurs across Asia.The Swiss bank, which is acting as an agent for the loan facility, filed the liquidation request to the Eastern Caribbean Supreme Court, High Court of Justice, in the British Virgin Islands on April 23, according to the BVI Gazette notice. A hearing is schedule for June 8.(Adds Luckin and bondholders lawsuits.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

NEW YORK, May 27, 2020 -- At the end of the settlement date of May 15, 2020, short interest in 2,423 Nasdaq Global MarketSM securities totaled 7,989,729,389 shares compared.

NEW YORK, May 27, 2020 -- The Nasdaq Stock Market® (Nasdaq: NDAQ) announced that trading in Moleculin Biotech, Inc. (Nasdaq: MBRX) is scheduled to resume on Thursday, May 28,.

In times like these, it might be pertinent to take a few short positions, or to at least sell off some flawed companies. We’re going to take a look at the most opportune shorts according to the factor model scores, in which A is a strong score and F is the wo…

It’s not that the price at the market is low but that right now these 5 banks are trading at less than book value.

Is (NDAQ) Outperforming Other Finance Stocks This Year?

None of the stocks have recovered from the March sell-off in the way that the big tech names and the NASDAQ have.

(Bloomberg) -- Nasdaq Inc. sees improving prospects for initial public offerings if stock markets hold up before the U.S. presidential election in November.“We are starting to see new deals pop up,” Nelson Griggs, president of the Nasdaq Stock Exchange, said Tuesday in an interview on Bloomberg Television. “If the markets do hold -- which again today, we’re seeing some impressive performance -- there is a chance we’ll have a healthy IPO market that’s multisector.”The exchange has hosted 15 IPOs since mid-March, mainly for health-care and biotech companies, and issuers in other industries are starting to hold roadshows. Warner Music Group Corp. this week set the terms for an IPO that would raise as much as $1.8 billion, and some companies that put their plans on hold in March are starting to re-emerge, Griggs said.“The biggest challenge for an IPO is, can they go out and do a roadshow and talk confidently about upcoming quarters?” he said. “That’s not as important for health-care or biotech companies, so we have seen those go out and do very well.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

As global and national governments are set to lift consumer restrictions in June, many aspects of the market are experiencing an unusual shuffle in cautious preparation for bustling streets once more.

Six weeks ago, with U.S. stock indices and Tesla shares plunging, the odds Musk would achieve the first tranche of his 12-part $55 billion compensation package looked slim. Things have changed.

NEW YORK, May 26, 2020 -- Who:Nasdaq CEO Adena Friedman  What:Bernstein’s 36th Annual Strategic Decisions ConferenceWhen:Thursday, May 28, 2020 10:00 AM ET  What:Piper.

You see it at the bottom of every investment product advertisement that includes performance information: “Past performance is no indication of future returns.”

Chinese delivery firm Dada Nexus Ltd will launch the investor roadshow for its U.S. initial public offering as early as Wednesday, according to people familiar with the matter, braving tensions between Washington and Beijing over Chinese companies pursuing their stock market debut in New York. The U.S. Senate passed legislation last week that could prevent some Chinese companies from listing their shares on U.S. exchanges unless they follow standards for U.S. audits and regulations. Shanghai-based Dada is backed by Chinese e-commerce firm JD.com and U.S. retail giant Walmart Inc.

(Bloomberg) -- Political momentum intensified this week to curtail investments in Chinese companies, in the latest sign that tensions between the world’s two largest economies have reignited.While a push for tougher scrutiny of financial ties between the U.S. and China has long simmered in Washington, the Senate quickly -- and in bipartisan fashion -- moved Wednesday to advance legislation that could result in delisting some securities from American stock exchanges.The added urgency stems in part from mounting calls for lawmakers and President Donald Trump to punish China for its alleged failure to disclose information early on about the spread of the COVID-19 virus. The pandemic has cost more than 90,000 American lives and resulted in tens of millions in job losses.The economic hit has curbed Trump’s ability to pressure China through tariffs, which can increase costs for American businesses and consumers. That has turned attention to other points of contention, like investment transparency. Earlier this month, the Trump administration and lawmakers stopped the Federal Retirement Thrift Investment Board, which oversees a retirement savings plan for government workers, from moving to a benchmark index for its international fund that includes Chinese stocks.Investor ProtectionU.S. stocks dropped for a second straight day as relations between the U.S. and China -- which had improved with an initial trade deal earlier this year -- appeared to deteriorate with news of the legislation and as strains flared again over Hong Kong. The Dow Jones Industrial Average index is little changed from the level it reached at the end of April.Proponents of stricter rules on Chinese stocks argue that it’s in the interest of national security and investors.“The level of fraud, the lack of transparency, the failure for investor protections, that has to be changed,” White House economic adviser Larry Kudlow said Thursday during an event hosted by the Washington Post.The Senate legislation would require companies including Alibaba Group Holding Ltd. and Baidu Inc. to certify they’re not controlled by a foreign government. The firms would have to do so because Chinese firms block Washington-based regulators from inspecting financial audits.The bill says that if the U.S. Public Company Accounting Oversight Board can’t review the companies’ audits for three straight years, their securities would be banned from trading on the New York Stock Exchange, Nasdaq or elsewhere in America.A companion bill has been introduced in the House and Speaker Nancy Pelosi said Thursday that the appropriate committees will review it, but she stopped short of promising a vote.Goldman AnalysisWall Street immediately took note of the heightened attention from Congress. Analysts at Goldman Sachs Group Inc. sent a report to clients Thursday that suggested a forced de-listing could lead to abrupt price actions. Chinese companies traded in the U.S. have a market cap in excess of a trillion dollars and about $8 billion of those stocks change hands every day on average, according to the analysis.Their research examined the Congressional proposal and its potential impact, saying that the focus of U.S. regulators and legislators on this issue has recently been elevated after some recent cases of alleged accounting irregularities.For some, the need for action was exemplified by China-based Luckin Coffee Inc., a coffee chain embroiled in an accounting scandal. The company recently announced the Nasdaq stock exchange’s intention to de-list the company in a statement.“Had this legislation already been signed into law, U.S. investors in Luckin Coffee likely would have avoided billions of dollars in losses,” Democratic Representative Brad Sherman of California, who introduced the House bill, said in a statement.Three YearsStill, the reality is nothing will change overnight, or likely anytime soon.Even if the Senate bill were to become law, any eventual de-listing of Chinese firms would be years away -- potentially long after Trump and many current lawmakers have already left office.Roger Robinson, president and CEO of RWR Advisory, a research and risk management consultancy, said the bill is a “remarkable bipartisan repudiation of the preferential treatment accorded to Chinese companies in our capital markets.”“Three years, however, is far too long before decisive action is taken against non-compliant companies,” said Robinson, who’s long pushed for stricter enforcement of U.S. auditing rules.SEC RulesThe bill would also require the SEC to write a regulation, invoking the agency’s lengthy rule-making process. Finalizing an SEC rule requires at least two rounds of votes by a bipartisan commission, as well as a series procedural steps like public notice and comment. Trump’s sway over the process is also limited because of the SEC’s status as an independent agency.So far, SEC Chairman Jay Clayton has issued a series of public statements warning American investors about the accounting issues related to Chinese firms whose auditors refuse to open their books. The agency has also announced a roundtable discussion on July 9 that will involve commentary from investors, industry and regulators on risks associated with investing in China and other emerging markets.Derek Scissors, China scholar at the conservative American Enterprise Institute, said he doesn’t believe any Chinese firm will either disclose properly or be de-listed as a result of the bill.“We’ll start another round of negotiations in 2021, no matter who’s president, and announce another agreement in which they falsely promise to disclose and we agree to keep them listed,” he said.Stock ExchangesExchanges including the New York Stock Exchange and Nasdaq have previously pushed back against the idea of delisting. But they’ve come under increasing government pressure amid the growing fervor for action against Chinese companies. Spokesmen for the NYSE and Nasdaq declined to comment.“We do have some very specific issues with the way that disclosures are provided from certain emerging markets, including China,” Nasdaq Inc. Chief Executive Officer Adena Friedman said this month in a Bloomberg Television interview.While the issue has only recently become a political focus for China hawks in the White House, for regulators the problem dates back almost two decades. The inspections by the little-known PCAOB, which Congress established in 2002 in response to the massive Enron Corp. accounting scandal, are meant to prevent fraud and wrongdoing that could wipe out shareholders.(Adds stock-market moves in fifth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

Nasdaq (NDAQ) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.