GreenPower Hit With Nasdaq Delisting Notice After 30 Days Below $1
GP sits 61% above its 52-week low of $0.193.
Summary
Nasdaq formally notified GreenPower that its shares closed below $1 for 30 straight business days, triggering a delisting risk. The company has 180 days to regain compliance by closing at or above $1 for at least 10 consecutive sessions, with a possible additional 180-day extension if other listing standards are met. This lands days before the 1-for-5 reverse split takes effect October 19, which cuts shares outstanding from roughly 10.5 million to 2.10 million and is the company's primary tool to lift the bid above $1. The notice is a late-stage confirmation of sustained weakness: Q1 FY2027 revenue fell 72% to $439K with a going concern warning, and the 20-F disclosed an auditor change and a debt covenant breach. Watch whether the post-split price holds above $1 for the required 10-day stretch starting October 19.
At the time of this announcement, GP was trading at $0.31 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $3.4M. The 52-week trading range was $0.19 to $3.30. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.