NusaTrip Announces Response to NASDAQ Request for Information Following Temporary Suspension of Trading

Core Viewpoint - NusaTrip Inc is currently facing a trading suspension by the SEC due to potential manipulation of its securities, which has raised concerns about the integrity of its stock trading activities [2][3][4]. Company Overview - NusaTrip Inc, established in 2015 and headquartered in Jakarta, Indonesia, is a leading travel technology platform focused on Southeast Asia (SEA) and Asia-Pacific (APAC) [6]. - The company has a growth strategy centered around acquisitions, having successfully integrated travel agencies like VLeisure and VIT in Vietnam, and is actively seeking to acquire more agencies in various countries including China, Hong Kong, and India [6]. SEC and Nasdaq Interaction - On October 9, 2025, the SEC suspended trading of NusaTrip's securities from 4:00 a.m. ET until 11:59 p.m. ET on October 22, 2025, due to concerns over potential price manipulation through social media recommendations [2][3]. - Following the SEC's order, NusaTrip responded to Nasdaq's request for information on October 15, 2025, but has not received further inquiries or a timeline for resolution from Nasdaq [4]. Trading Suspension Details - The SEC's action was taken under Section 12(k) of the Securities Exchange Act of 1934, indicating serious concerns about the trading practices surrounding NusaTrip's securities [3]. - NusaTrip has stated that it has not engaged in any price manipulation and is committed to cooperating fully with both Nasdaq and the SEC [4].