CN Energy Group’s stock plunged 26.3% in after-hours trading on Friday after Nasdaq notified the company it could be delisted. The move comes because CN Energy’s share price stayed below $1.00 for 30 straight business days, from December 3, 2025, to January 15, 2026, violating Nasdaq’s rules.
The company cannot use a compliance period or extension to fix the issue because it has done multiple reverse stock splits over the last two years, totaling a 1-for-750 ratio. This includes a 1-for-30 split in January 2024 and a 1-for-25 split in May 2025.
CN Energy filed a request for a hearing on January 21, 2026, to appeal the delisting decision. This automatically keeps its shares trading on Nasdaq while the appeal is reviewed. The company plans to propose a remediation plan during the process.
The company stressed that the delisting notice does not affect its day-to-day operations or SEC reporting. CN Energy produces recyclable activated carbon and renewable energy from forest and agricultural residues. Its customers include food and beverage companies, industrial manufacturers, and environmental protection businesses.
