LZ Technology (NASDAQ:LZMH) Shares Down 9.3% - Here's What Happened

Key Points

• LZ Technology Holdings Limited experienced a significant stock price drop of 9.3% during mid-day trading, closing at $3.41 after hitting a low of $2.92.
• The company's average daily trading volume decreased by 3%, with approximately 591,786 shares traded compared to the average of 610,470 shares.
• LZ Technology operates primarily through its subsidiaries in the PRC and had 255 customers in 2023, showing growth from 247 customers in 2022.

LZ Technology Holdings Limited (NASDAQ:LZMH - )'s stock price dropped 9.3% during mid-day trading on Friday . The company traded as low as $2.92 and last traded at $3.41. Approximately 591,786 shares traded hands during trading, a decline of 3% from the average daily volume of 610,470 shares. The stock had previously closed at $3.76.

LZ Technology Trading Down 11.2%

The company has a 50-day moving average price of $12.66.

LZ Technology Company Profile

As a holding company with no material operations of its own, LZ Technology conducts its operations through its operating entities formed in the PRC, primarily Lianzhang Portal and its subsidiaries. For the years ended December 31, 2022 and 2023, the Company had a total of 247 and 255 customers, respectively, who entered into contracts with the Company to purchase the Company's products and services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.