CHESAPEAKE, Va. - Greenwave Technology Solutions (NASDAQ:GWAV) received a second delinquency notice from Nasdaq on May 21 for failing to file its quarterly report for the period ended March 31, 2026.
The notice indicates non-compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of periodic financial reports. The metal recycling operator had previously received a delinquency notice on April 22 for failing to file its annual report for fiscal year 2025.
The filing delays come as Greenwave faces financial headwinds. With a market cap of just $3 million, the stock has plummeted 83% over the past year. Short-term obligations exceed liquid assets.
Nasdaq has given Greenwave until June 22, 2026 to submit a plan to regain compliance. If accepted, the company may receive an exception of up to 180 calendar days.
The company stated it plans to submit the compliance plan by the deadline. The notices do not immediately affect the listing or trading of its securities, which continue to trade under the symbol GWAV.
Greenwave operates 13 metal recycling facilities in Virginia, North Carolina, and Ohio. The company is working to file the late reports as soon as practicable.
