NYSE Issues Delisting Warning to ESS Tech Over Sub-$1 Stock Price
GWH sits 59% above its 52-week low of $0.565.
Summary
ESS Tech received a notice from the NYSE for failing to maintain a minimum average closing price of $1.00 over 30 consecutive trading days. This follows an 8-K filed today and the company's prior disclosure in its Q1 10-Q of substantial doubt about its ability to continue as a going concern. The notice puts the company at risk of delisting, which could severely impact its ability to raise capital and maintain investor confidence. ESS Tech has six months to regain compliance, potentially through a reverse stock split.
At the time of this announcement, GWH was trading at $0.90 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $24.3M. The 52-week trading range was $0.57 to $13.87. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Wiseek News.