NYSE Moves to Delist ESS Tech Common Stock Amid Cash Crisis
GWH is trading near its 52-week low of $0.307 (1.6% above the low).
Summary
The NYSE is commencing delisting proceedings against ESS Tech's common stock, escalating from the July warrant delisting. The company trades at $0.31, near its 52-week low, with a market cap of just $13.7 million. This follows a going concern warning, a $15.6M Q2 loss, and a cash position of only $5.6M as of July 31. A reverse stock split vote is scheduled for October 16, but delisting may proceed before that. The stock faces immediate removal from the exchange, which would severely limit liquidity and institutional ownership.
At the time of this announcement, GWH was trading at $0.31 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $13.7M. The 52-week trading range was $0.31 to $13.87. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.