New York, Feb 2, 2026, 04:44 ET — Premarket
- Elong Power shares tumbled early Monday, reversing steep gains from Friday’s surge.
- Attention stays on a filed share sale following the stock’s sharp jump.
- Traders are focused on dilution risk and if the stock can maintain crucial Nasdaq support levels.
Elong Power Holding Limited plunged roughly 53% to $6.49 in Monday’s premarket, following a Friday close at $13.94. The battery company’s U.S.-listed shares took a sharp hit early in the session. (Investing)
The whipsaw is significant as Elong Power just had a session that felt more like a rush for liquidity than genuine price discovery. On top of that, the company has a filed equity deal that could flood the market with new shares, adding pressure to a stock known for sudden, sharp moves both up and down.
On Friday, the stock surged 3,141% from its previous close, oscillating between $0.40 and $15.27 while exchanging over 16 million shares, per historical trading data. (Stockanalysis)
Investors are closely examining a registered offering spotted on Nasdaq’s secondary public offering tracker. The listing, filed Jan. 26, details 6,666,666 shares with an estimated offering size near $9.2 million. (Nasdaq)
A registered offering means selling shares that comply with securities regulations. It can raise cash but often dilutes current shareholders. In small-cap stocks, even the hint of new supply can shake up prices, particularly after a sharp rally.
Separately, the company informed investors it is actively working to meet Nasdaq’s minimum bid requirement. An earlier filing revealed Nasdaq has set a deadline of April 1, 2026 for Elong Power to regain compliance, though the company warned there is “no assurance” it will succeed. (Sec)
Elong Power, registered in the Cayman Islands, centers its business on high-power lithium-ion battery packs, cells, and components for electric vehicles and construction machinery. The company also markets energy storage products. (Sec)
No new company filing surfaced to explain Friday’s jump, forcing traders to wrestle with price moves, volume shifts, and positioning instead of a clear headline driver.
The risk for bulls is straightforward: should the offering proceed on unfavorable terms or liquidity evaporate, the momentum behind the rally could unwind fast. When stocks gap this sharply, volatility pauses and sudden drop-offs become common ground.
Monday’s regular-session open will be key to see if the premarket gains stick, along with any fresh details on when and at what price the planned share sale might happen. After that, investors are eyeing April 1, 2026 — the Nasdaq deadline the company has highlighted for meeting its minimum-bid requirements.
