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WILMINGTON, DE – Thunder Power Holdings, Inc. (NASDAQ:AIEV), a manufacturer of motor vehicles and passenger car bodies with a market capitalization of $11.61 million, is on the verge of being delisted from the Nasdaq Global Market due to non-compliance with the exchange’s listing rules, specifically regarding minimum bid price and market value. According to InvestingPro data, the stock has fallen nearly 98% over the past year and currently trades at $0.20, well below its 52-week high of $12.12.
On March 7, 2025, Thunder Power received a notification from Nasdaq stating that the company failed to meet the minimum bid price of $1.00 per share and the minimum Market Value of Listed Securities (MVLS) of $50 million. As a result, Nasdaq has determined to delist the company’s securities unless Thunder Power appeals this decision. InvestingPro analysis indicates the company’s overall financial health score is WEAK, though it maintains a healthy current ratio of 1.94, suggesting adequate short-term liquidity.
Previously, on September 6, 2024, Nasdaq had notified Thunder Power of its non-compliance and provided a 180-day grace period to regain compliance, which expired on March 3, 2025. The company’s common stock is set to be suspended from trading at the opening of business on March 18, 2025, with the delisting process to commence unless an appeal is filed.
Thunder Power has expressed its intention to request a hearing before the Nasdaq Hearings Panel by the March 14, 2025 deadline, which would temporarily stay the suspension and delisting. The company plans to present a compliance plan during this hearing.
Options under consideration to regain compliance include a reverse stock split or transferring to the Nasdaq Capital Market. However, there is no guarantee that the company’s plan will be accepted by Nasdaq or that it will achieve compliance with the necessary listing requirements.
This development follows the company’s previous name change from Feutune Light Acquisition Corp on February 22, 2022, and is disclosed in accordance with Nasdaq Listing Rule 5810(b) and Form 8-K requirements.
Investors are closely monitoring the situation as Thunder Power Holdings prepares to defend its position and seek continued listing on the Nasdaq Global Market. The information in this article is based on a press release statement. For comprehensive real-time monitoring of Thunder Power’s financial metrics and 12 additional exclusive ProTips, consider subscribing to InvestingPro.
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