Elong Power announced it will implement a 1-for-80 reverse stock split as part of efforts to maintain compliance with Nasdaq listing requirements.

Under the reverse stock split, every 80 existing shares will be consolidated into one new share. This corporate action is designed to increase the company's stock price to meet minimum threshold requirements for continued trading on the Nasdaq exchange.

Reverse stock splits are commonly used by companies whose share prices have fallen below exchange minimum requirements. By reducing the number of outstanding shares, the per-share price increases proportionally, though the overall market capitalization remains unchanged.

The announcement comes as Elong Power works to address compliance issues with Nasdaq listing standards. Companies that fail to meet minimum price requirements face potential delisting from major exchanges, which can significantly impact liquidity and investor access.

Following the announcement, Elong Power shares declined in trading. The reverse stock split will affect all shareholders proportionally, with fractional shares typically paid out in cash.