"Just When It Looked Like It Would Rise Yesterday"—JOOYONTECH Falls More Than 11% Amid Delisting Risk [Stock NOW]

[Financial News] JOOYONTECH, which is facing the risk of delisting after failing to meet the market-capitalization requirement, is falling more than 11% early in the trading session.
According to the Korea Exchange (KRX) at 9:40 a.m. on the 17th, JOOYONTECH was trading at 458 won, down 11.41% from the previous trading day. The stock opened at 500 won, down 3.28% from the previous session, and has since extended its losses.
JOOYONTECH was designated as an issue under management on July 21 after its market capitalization remained below the required threshold for 30 consecutive trading days. Its decline from the designation date through the previous day stood at 61.76%. The stock also closed lower for eight consecutive trading days from the 4th through the 15th.
The stock had risen 4.44% the previous day but turned lower again today. The reversal is believed to have been driven by renewed delisting concerns after the Korea Exchange disclosed an "advance notice of delisting concerns due to failure to meet the market-capitalization requirement" for JOOYONTECH the previous day.
The market-capitalization threshold for the Korea Exchange Main Board, which took effect in July this year, is 30 billion won. However, JOOYONTECH has not met the requirement of maintaining a market capitalization of at least 30 billion won on any day since it was designated as an issue under management. As of today, the company’s market capitalization is approximately 6.3 billion won.
If the number of days below the market-capitalization threshold reaches 46, the company will be unable to satisfy the requirement of meeting the threshold for 45 consecutive days, and delisting procedures are expected to begin. JOOYONTECH is therefore expected to undergo delisting procedures if it fails to meet the market-capitalization requirement by the 24th.

[email protected] Lim Sang-hyeok Reporter