PRNewsWire
06 Aug 2026, 15:50 UTC · 1h ago
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The reverse split is specifically intended to maintain compliance with Nasdaq Listing Rule 5810(c)(3)(A)(iii) regarding the $0.10 minimum bid price. — This confirms the company is at risk of delisting due to a critically low share price, indicating severe weakness in market valuation.
-0.60Elong Power Holding Limited (ELPW) is implementing a 1-for-45 reverse share split effective August 10, 2026. — Reverse splits are often viewed by the market as a sign of distress or a desperate attempt to artificially inflate the stock price.
-0.40The total issued and outstanding common shares will be reduced from approximately 23 million to approximately 0.51 million. — A drastic reduction in shares outstanding can lead to lower liquidity for the stock, potentially increasing volatility.
-0.20Which stocks this story touches
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The company is implementing a reverse stock split to avoid delisting from Nasdaq due to failure to maintain a minimum bid price.
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