Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
EHang Holdings Ltd. EH, +5.36% said Monday it won approval from the Nasdaq to voluntarily delist its stock on a temporary basis “in anticipation of an upcoming announcement concerning a very significant development regarding its business operations.
” The company said it plans to announce the “new development” and to resume the trading of its American depositary stock no later than 5:00 a.m. Eastern Time on Friday. EHang is a specialist in “short-hop pilotless passenger air mobility.” Prior to being halted EHang stock was up 7.8% in premarket trades.
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