Thursday March 27, 04:01 PM
LJ International gets compliance letter from Nasdaq; shares rally
SAN FRANCISCO (Thomson Financial) - Shares of LJ International Inc (JADE - news) . rose Thursday after the jewelry manufacturer and retailer said it received a compliance letter from the Nasdaq (NASDAQ: news) listing qualifications panel.
LJ said that based on its recent proxy solicitation and the convening of its annual shareholder meeting on March 14, Nasdaq has determined to continue listing the company's securities.
U.S.-listed shares of Hong Kong-based LJ International rose 16% to $3.09 on volume of 278,000 shares versus a 30-day average volume of 203,290 shares.
Gabriel Madway
gm/vj
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