Elong Power Announces 1-for-80 Reverse Split Effective Aug 10
ELPW sits 63% above its 52-week low of $0.08 on light trading volume (0.4× avg).
Summary
Elong Power will execute a reverse stock split at the Nasdaq open on August 10, 2026. The company previously executed a 1-for-80 reverse split in March 2026, and this new split follows a series of deeply dilutive offerings that have crushed the share price to $0.13. The split is a compliance move to maintain Nasdaq listing requirements, but it does not address the underlying cash burn and dilution cycle. With the stock down over 90% from its post-March split levels, the reverse split may provide temporary relief but risks further selling pressure as the company continues to tap markets at steep discounts.
At the time of this announcement, ELPW was trading at $0.13 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $853.8K. The 52-week trading range was $0.08 to $5,696.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.