Gold prices hover near record peaks as Fed rate cut bets mount
SAN DIEGO - Nuvve Holding Corp. (NASDAQ:NVVE), a vehicle-to-grid technology company with a market capitalization of just $4.5 million, has requested a hearing before the Nasdaq Hearings Panel to appeal a delisting determination, according to a press release statement issued by the company. The stock has fallen over 93% in the past year, with InvestingPro data showing concerning financial health metrics.
The appeal, submitted on September 3, addresses Nuvve’s non-compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2) and minimum stockholders’ equity requirements under Listing Rule 5550(b)(1). The company’s current share price of $0.23 represents a significant decline from its 52-week high of $8.76.
Under Nasdaq rules, the hearing request automatically stays any suspension or delisting action pending the outcome of the hearing and any extension period granted by the Panel. During the forthcoming hearing, Nuvve plans to present its strategy to regain and maintain compliance with all applicable Nasdaq listing requirements. InvestingPro analysis reveals the company is operating with a significant debt burden and rapidly burning through cash, with a concerning current ratio of 0.66.
Nuvve, which provides a platform enabling electric vehicle batteries to store and resell unused energy back to local electric grids, has been facing challenges maintaining compliance with Nasdaq’s continued listing standards. Despite these challenges, analysts forecast revenue growth of 8.7% for the current fiscal year. Get deeper insights into Nuvve’s financial health and growth prospects with a comprehensive Pro Research Report, available exclusively on InvestingPro.
The company’s technology allows for the transformation of electric vehicles into mobile energy storage assets by networking battery capacity to support shifting energy needs.
Founded in 2010, Nuvve reports it has deployed its vehicle-to-grid technology across five continents and offers electrification solutions for various fleet types.
The date for the Nasdaq hearing has not been disclosed in the company’s announcement.
In other recent news, Nuvve Holding Corp. reported its Q2 2025 earnings, highlighting a notable decline in revenue and an increase in net losses compared to the previous year. Despite these financial hurdles, the company is undertaking strategic initiatives in the energy and cryptocurrency sectors to potentially drive future growth. Shareholders recently approved the election of Jon M. Montgomery and Laura Huang as Class A directors for three-year terms at the company’s 2025 Annual Meeting. Additionally, Nuvve Holding received a Nasdaq delisting notice due to its common stock trading below $1.00 for 30 consecutive days, violating the minimum bid price requirement. The company is also noncompliant with the minimum stockholders’ equity requirement, which could lead to its delisting from the Nasdaq Capital Market. Nuvve has requested a hearing to appeal this decision. These developments reflect ongoing challenges and strategic shifts within the company.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.