What recent news or announcements could have caused QH's stock price to drop significantly?

Several recent news and announcements could have contributed to the significant drop in Quhuo's stock price: 1. **Nasdaq Delisting Notice**: Quhuo has received notifications from Nasdaq indicating that it is not in compliance with the exchange's listing requirements due to its American depositary share's trading price being below the minimum bid price and the company's market value of publicly held shares falling short of the required threshold. This delisting notice could have led to a decline in investor confidence and caused the stock price to drop. 2. **Financial Performance Concerns**: Quhuo's recent financial reports reveal a net loss for the period ending June 30, 2024, with a revenue of $225 million and a net loss of $7.28 million, resulting in an earnings per share (EPS) of -$0.87. The negative price-to-earnings (P/E) ratio of -2.31 could also have contributed to the negative sentiment surrounding the company. In summary, the combination of Nasdaq's delisting notice and the company's financial performance concerns could have led to a significant drop in Quhuo's stock price.