GreenPower Plans 1-for-5 Reverse Split to Regain Nasdaq Compliance
GP is trading near its 52-week low of $0.51 (9.8% above the low) on light trading volume (0.3× avg).
Summary
GreenPower Motor Company announced a 1-for-5 reverse stock split, reducing shares outstanding to approximately 2.10 million, to regain compliance with Nasdaq's $1 minimum bid requirement. The move requires Nasdaq approval and an effective date to be announced. This follows a series of financial distress signals: Q1 FY2027 revenue down 72% to $439K, cash at $17.6K, a going concern warning, and a debt covenant breach disclosed in recent filings. The reverse split is a compliance measure, not an operational improvement, and its success depends on sustained post-split price above $1. Watch for Nasdaq approval and the effective date announcement.
At the time of this announcement, GP was trading at $0.56 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $5.6M. The 52-week trading range was $0.51 to $3.38. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.