Elong Power Announces 1-for-80 Reverse Stock Split
Elong Power Holding ($ELPW) announced it will execute a 1-for-80 share consolidation. The move, also known as a reverse stock split, is a common tactic used by companies to increase their share price and maintain compliance with Nasdaq listing requirements.
The move follows a 1-for-16 reverse split that took effect in December 2025, aimed at addressing the same Nasdaq compliance issues. That earlier consolidation reduced the number of outstanding shares from approximately 61.3 million to about 3.8 million. Nasdaq requires listed companies to maintain a minimum bid price of at least $1.00 per share. Under recently tightened rules, an expedited delisting process can begin for securities trading at or below $0.10 for ten consecutive days. Elong Power's stock was trading at $0.08, down 99% over the past year, prior to the announcement. This latest 1-for-80 split will further reduce the company's total issued and outstanding common shares from approximately 63 million to around 0.79 million. While the stock will continue to trade under the "ELPW" ticker, it will be assigned a new CUSIP number for identification. Financially, Elong Power has faced significant challenges. For the last twelve months, the company reported revenues of $0.24 million, an 83% decline, and is noted as "quickly burning through cash." In 2024, the company's revenue fell by 87.77% to $386,940, while losses increased by over 300% to -$30.11 million. To address its financial situation, the company recently closed two public offerings in February 2026, raising a combined total of approximately $14.6 million before expenses. These capital raises occurred just before the reverse split announcement.
