Li Ning (OTCMKTS:LNNGY) Shares Gap Down - Here's Why

Key Points

• Li Ning's shares opened significantly lower at $55.31 after closing at $57.18, indicating a potential downturn in market sentiment.
• The company has announced a dividend of $0.6507 per share, delivering a remarkable dividend yield of 384.0% to its stockholders.
• Li Ning operates in the sporting goods sector in China, focusing on design, manufacture, and retail of sports equipment and apparel under its brand.

Li Ning Co. (OTCMKTS:LNNGY - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $57.18, but opened at $55.31. Li Ning shares last traded at $58.32, with a volume of 10 shares traded.

Li Ning Stock Performance

The business has a 50 day simple moving average of $53.36 and a 200 day simple moving average of $51.84.

Li Ning Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, July 11th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.6507 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a dividend yield of 384.0%.

About Li Ning

Li Ning Company Limited, a sports brand company, engages in the research and development, design, manufacture, marketing, distribution, and retail of sporting goods in the People's Republic of China. The company offers sporting goods, including professional and leisure footwear, apparel, equipment, and accessories under the LI-NING brand.