What happened Shares of SGOCO Group (NASDAQ: SGOC) have skyrocketed today by a whopping 61% as of 10:55 a.m. EDT, after the company said it had regained compliance with the Nasdaq stock exchange. SGOCO has experienced extreme volatility in recent days as retail day traders have been piling into the Chinese fintech company, which was a penny stock not long ago. So what The Nasdaq exchange had warned SGOCO in May that it was out of compliance with its periodic filings, a crucial listing requirement that ensures that companies are providing investors with current information. The company had attributed the delay to difficulty in obtaining and compiling information. Image source: Getty Images. In a regulatory filing with the Securities and Exchange Commission that was submitted yesterday evening, SGOCO confirmed that it has now regained compliance with the requirement after filing its Form 20-F for 2020 with the SEC. That form is comparable to an annual report Form 10-K but is used for foreign companies that are headquartered outside the U.S. Now what SGOCO's annual report shows that revenue in 2020 declined to $4.3 million, worse than the $5.1 million in sales that it expected to report. That resulted in an operating loss of $67.3 million, which was primarily due to a goodwill impairment. The company's net loss last year was $67.9 million, or $0.69 per share. But many volatile meme stocks have become detached from their companies' underlying fundamental performance, and traders probably aren't particularly concerned about the red ink. SGOCO now boasts a market cap of over $1.5 billion. 10 stocks we like better than SGOCO GroupWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and SGOCO Group wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source