New York, June 5, 2026, 14:04 (ET)
- Greenwave shares last traded at $3.32, off 5.1%. Volume stayed light.
- June 22 is the next fixed deadline, when the company has to give its compliance plan to Nasdaq, according to the company.
- U.S. stocks declined as the May jobs report came in stronger than forecast, raising fresh rate-hike concerns.
Greenwave Technology Solutions shares dropped Friday. The small metal recycler faced more pressure with a Nasdaq filing-compliance deadline coming up, while U.S. equities traded lower.
The stock was quoted at $3.32, off 18 cents, or 5.1%, from the previous close. The latest quote showed just 1,105 shares changing hands. Light volume often leaves small caps swinging around, as small orders can move the price.
Greenwave is facing a deadline. The company has until June 22 to file a plan with Nasdaq after falling behind on its financial reports. Greenwave picked up another delinquency notice, according to a May 27 SEC filing, this time for missing its 10-Q for the quarter ending March 31. That’s on top of a notice for not filing its 2025 annual report.
Nasdaq Listing Rule 5250(c)(1) says listed companies have to file their periodic financial reports on time. Greenwave said Nasdaq staff may let it comply by Oct. 12 if its plan is approved. The company also said the notice doesn’t affect trading of its common stock on the Nasdaq Capital Market right now.
Main U.S. indexes traded lower. The May nonfarm payrolls number came in at 172,000, according to the Labor Department, ahead of the 85,000 expected in the Reuters poll. Yields climbed after the data, with traders concerned the Fed might tighten policy this year.
“People are pricing in 100% probability of a Fed hike later this year,” Charlie Ripley at Allianz Investment Management told Reuters. He said that’s lifting rates markets and causing some investors to take chips off the table. Reuters
Greenwave depends on scrap metal collection and processing for its business. The company says it runs 13 metal recycling locations in Virginia, North Carolina, and Ohio under the Empire Services name. These sites collect and process both ferrous scrap, which has iron, and nonferrous metal such as copper and aluminum.
Steel stocks slid Friday, with Nucor down 2.3% and Cleveland-Cliffs off 6.7% in recent trading. Greenwave is much smaller, trading with a market cap under $2 million, so filings tend to drive the shares more than sector moves.
There’s a clear risk. Greenwave said that if regulators turn down its plan, or if it fails to file its overdue 10-K and 10-Q while any Nasdaq grace period is in effect, there’s no guarantee it can keep its listing or win a stay on possible delisting.
Trading is still active under the GWAV ticker for now. The focus isn’t on another low trade or a rally with the rest of the market—what matters is whether Greenwave manages to file its overdue reports and keeps Nasdaq onside before time runs out.
