LZ Technology (NASDAQ:LZMH) Stock Price Down 9.4% - Here's Why

Key Points

• LZ Technology Holdings Limited (NASDAQ:LZMH) saw its stock price decline by 9.4% on Monday, closing at $3.08 after dropping from a prior close of $3.40.
• Trading volume for the stock decreased significantly, with 165,045 shares exchanged, which is a 73% decline from the average volume of 608,703 shares.
• The company's operating structure relies heavily on its subsidiaries in China, with a total of 255 customers reported for the years ending 2022 and 2023.

LZ Technology Holdings Limited (NASDAQ:LZMH - ) fell 9.4% on Monday . The company traded as low as $2.84 and last traded at $3.08. 165,045 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 608,703 shares. The stock had previously closed at $3.40.

LZ Technology Stock Down 20.3%

The firm's 50 day simple moving average is $12.21.

About LZ Technology

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.

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