ELWS Stock More Than Doubles On Thursday: What’s Driving The Surge?

Earlyworks Co.’s (ELWS) American Depository Receipts (ADR) soared over 110% in Thursday’s midday trade, more than doubling the company’s market capitalization.

The surge in Earlyworks’ ADRs comes at a time when the company is nearing the final deadline from the Nasdaq Hearings Panel to regain compliance with the continued listing requirements for the Nasdaq Capital Market.

According to the company’s statement, the Nasdaq Hearings Panel’s final deadline for regaining compliance with its listing requirements is Oct. 29, 2025.

Earlyworks’ ADRs were up more than 144% in Thursday’s regular trading session, before paring some of the gains. Retail sentiment on Stocktwits around the company also soared, trending in the ‘extremely bullish’ territory at the time of writing, rising from ‘bullish’ a day ago.

Message volumes also witnessed a surge, entering the ‘extremely high’ levels from ‘high’ a day ago. Earlyworks was among the top ten trending tickers on the Stocktwits platform at the time of writing.

Earlyworks stated that it received a determination letter from the Nasdaq Listing Qualifications Department on May 2 that it had failed to regain compliance with the listing rules, which require listed companies to maintain a minimum Market Value of Listed Securities (MVLS) of $35 million. The firm opted for an alternative standard that requires a minimum stockholders’ equity of $2.5 million.

The company was granted an exception to regain compliance under the equity rule until September 29. It has now been extended to October 29, and if Earlyworks fails to regain compliance by this date, its securities will be delisted from the Nasdaq.

ELWS stock is up 158% year-to-date and 225% over the past 12 months.

Also See: Gold Surges To Fresh Record Highs On US-China Tensions: Analyst Reportedly Says Yellow Metal Could Top $5,000

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