This Penny EV Stock Hit Record Lows – Here’s What Is Spooking Investors

• The move will reduce the company’s outstanding shares from about 87.9 million to roughly 1.46 million.
• The stock fell below $1 on June 20, 2025, and has traded below that level since then.
• Nasdaq set a deadline at April 20, 2026 for Cenntro to regain compliance.

Shares of Cenntro Inc. (CENN) slumped more than 30% to an all-time low on Thursday, after the electric vehicle company announced a 1-for-60 reverse stock split, effective April 13.

CENN shares recorded their biggest intraday losses since Oct. 8, 2025. 

Outstanding Shares To Reduce To Around 1.5 Million

The company said it is implementing the consolidation in order to regain compliance with Nasdaq’s $1 minimum bid price requirement. The stock fell below $1 on June 20, 2025, and has traded below that level since then.

The move will reduce the company’s outstanding shares from about 87.9 million to roughly 1.46 million.

Cenntro received a Nasdaq compliance notice on Oct. 24, 2025, in which it was granted an additional 180-day extension from Nasdaq to regain compliance with the $1 minimum bid price rule. The deadline was set at April 20, 2026. Prior to that it had received a similar notice on April, 25, 2025.

According to its financial report for the quarter ended September 30, 2025, the company's revenue plummeted 71% to $4.6 million, while net loss narrowed to $6.7 million from around $9 million. 

The company's total assets at the end of the quarter fell to $112.7 million from around $132 million.

How Did Retail Traders React?

Retail sentiment on Stocktwits flipped to 'bearish' from 'bullish' a day earlier, amid 'high' message volumes.

Year-to-date, the stock has shed around 43%.

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