New York, May 29, 2026, 11:02 (EDT)
Elite Express Holding Inc. shares edged higher during late-morning trading on the Nasdaq Friday. The gain was modest and volume stayed light, with the stock still stuck under the $1 minimum bid required by the exchange.
Shares of the California last-mile delivery company traded at $0.5528 late, rising around 3.9% from the prior close. Volume was 9,183 shares. The session range so far is $0.5528 to $0.56, market data showed.
Nasdaq has already extended the clock for Elite Express to deal with its bid price. The minimum bid for a Nasdaq Capital Market stock is $1, according to Elite Express. In a filing on April 30, the company said Nasdaq handed them a second 180-day grace period, running out on Oct. 26, 2026. Elite Express needs its closing bid to hit $1 or more for 10 straight business days to get back in line, but Nasdaq could still use its discretion.
The stock would have to jump about 81% from Friday’s close to hit $1. Market cap was around $9.2 million—at that level, thin trading can push the share price around more than it seems.
Trading on the day didn’t show signs of a reset. The company’s new earnings numbers put first-quarter revenue at $805,298, up 16.3% from last year. Net loss narrowed to $110,104 from $204,999. CEO Yidan Chen said the company had “continued operational momentum,” citing “stronger delivery volumes” and more efficient routes. GlobeNewswire
Elite Express had a small IPO in August 2025, listing at $4 a share and bringing in around $15.2 million before fees. The stock is now down about 86% from its IPO price after Friday’s close.
Elite Express has a tight revenue source. In its latest quarterly filing, the company said FedEx made up all its revenue for the three months ended Feb. 28, 2026, and for the same stretch in 2025. Elite Express is an independent service provider, or ISP. It handles pickups and deliveries for FedEx by contract, instead of selling its service to other customers.
Peer action was mixed. Armlogi Holding, a smaller logistics stock on Nasdaq, added roughly 3.1%. Eastern International slipped about 3.6%. FedEx, which is a major customer for Elite Express and not a peer, traded just a touch higher.
But the risk is still clear. A reverse stock split would lower the share count and push up the price, meeting the $1 minimum, but that alone wouldn’t fix light volume, customer concentration, or the losses. If shares stay below the required bid before the October deadline, the listing is back in play fast.
Right now, Elite Express is moving in the market more on compliance timing than on growth or logistics hopes. Every close and a handful of cents are in play.
