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Greenwave Technology Solutions, Inc. (NASDAQ:GWAV) reported Monday that it has requested a hearing with the Nasdaq Hearings Panel following a determination by Nasdaq staff that the company is not in compliance with Nasdaq Listing Rule 5250(c)(1). The rule requires timely filing of periodic financial reports. According to InvestingPro data, GWAV has been struggling financially with an overall health score rated as "WEAK" and has seen its stock price plummet 94% year-to-date.
According to a press release statement and SEC filing, Greenwave received a Staff Determination Letter from Nasdaq on November 18, 2025, due to its failure to file Quarterly Reports on Form 10-Q for the periods ended March 31, June 30, and September 30, 2025. The company requested a hearing on November 21, 2025, and asked for an extension of the automatic stay of suspension while the hearings process is ongoing. The hearing is scheduled for January 13, 2026, and the request for an automatic stay was granted.
Greenwave stated that it filed its Quarterly Report for the period ended March 31, 2025, on November 19, 2025, and is working to complete the remaining filings as soon as possible to regain compliance with Nasdaq requirements.
This information is based on a press release statement and a Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Greenwave Technology Solutions is facing significant challenges regarding its Nasdaq listing status. The company has received a Staff Determination Letter from Nasdaq, highlighting non-compliance with listing requirements due to its failure to file quarterly reports for the periods ending March 31, June 30, and September 30, 2025. This non-compliance could lead to the suspension of Greenwave’s securities trading on November 28 unless an appeal is filed by November 25. Furthermore, Greenwave received an additional delinquency notice from Nasdaq on August 22, 2025, for not filing its quarterly report for the period ending June 30, 2025. This notice is the second such warning, with an earlier notice issued on May 30 for a delayed first-quarter report. These developments underscore ongoing compliance issues with Nasdaq Listing Rule 5250(c)(1), which mandates timely filing of financial reports with the SEC. Investors are closely watching how Greenwave will address these compliance challenges.
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