LUXURBAN HOTELS INC A PFD

LuxUrban Hotels Inc. (LUXH) announced a 1-for-70 reverse stock split to strengthen its position on the Nasdaq Capital Markets and improve its stock's trading profile. The company also received shareholder approval to waive the 19.99% share limitation, allowing it to maintain Nasdaq listing compliance while maximizing its financing flexibility.

Related tickers: LUXH, LUXHP.

LuxUrban Hotels Inc. (LUXH) reported a net loss of $26.8 million in Q2 2024, compared to the same period in 2023, due to increased rent expenses, surrender of deposits, and other operational costs. The company has streamlined its hotel portfolio and strengthened its management team to enhance financial stability and drive future growth.

Related tickers: LUXH, LUXHP.