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LuxUrban Hotels Inc.

Company NameLuxUrban Hotels Inc.
Stock SymbolLUXH

On January 17, 2024, Bleeker Street published a report alleging, among other things, that LuxUrban had not signed the lease for the Royalton Hotel in New York, as it had claimed. The report also alleged that there have been several lawsuits accusing LuxUrban of not paying rent and owing landlords large sums of unpaid rent.

On this news, LuxUrban’s stock price fell $1.01, or 20.6%, over two consecutive trading days to close at $3.89 per share on January 18, 2024, thereby injuring investors.

Then, on February 5, 2024, LuxUrban announced the “termination of discussions to add the Royalton Hotel to its roster of properties.”

On this news, LuxUrban’s stock price fell $0.99, or 22%, to close at $3.50 per share on February 5, 2024, thereby injuring investors further.

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