New York, June 5, 2026, 17:02 (EDT)
Highway Holdings Ltd shares climbed late Friday, even as most U.S. stocks moved lower. The move came a day after the Hong Kong-based manufacturer said two board directors resigned. The stock was last at $0.7633, up roughly 4.5%. Volume was 6,815 shares and the company’s market cap sat around $3.37 million.
Highway is still under Nasdaq’s $1 minimum bid price rule. The company said in March that Nasdaq gave it until Sept. 14, 2026, to get its closing bid back up to $1 or higher for at least 10 straight sessions. Buyers aren’t paying that much now.
The rally didn’t amount to much in dollars, but it was noticeable on a tough day. The Nasdaq Composite lost 4.18% Friday, with the Russell 2000 index of small-caps down 3.5% after a stronger U.S. jobs report hurt hopes for rate cuts and sent tech shares lower.
Highway disclosed in a Form 6-K that Marcus Bagnall and Patrick Michaels resigned from the board, on May 29 and May 30. The company said their exits weren’t due to disputes about company operations, policies, or practices. CEO Roland W. Kohl signed the June 4 filing.
Highway Holdings is a microcap stock. That means swings in price can look big even if trading is thin. The stock last traded about 24 cents under the $1 threshold needed to stay compliant with Nasdaq rules.
Highway produces metal, plastic and electronic parts for OEMs, or original equipment manufacturers that buy components from outside suppliers for their products. The company lists its main offices in Hong Kong, and makes products in Shenzhen, China, and Yangon, Myanmar, according to filings.
Highway’s outlook has not improved. The company said in a March 2 release that nine-month revenue for fiscal 2026 dropped 34.6% to $3.8 million, and it posted a $427,000 loss after losing a big electric-motor customer and trying to rebuild sales. Third-quarter revenue slid 40.5% to $1.1 million.
Kohl said at the time the company’s China plant was operating without issues, but volume wasn’t high enough to support all costs. He said Highway was making cost cuts and working on new programs and acquisitions to get growth back.
Highway said March 5 it wrapped up its €662,000 deal for 51% of Germany’s Regent-Feinbau Adermann GmbH. The buy adds a supplier of precision sheet-metal parts for auto, commercial vehicle, aerospace and industrial buyers.
Highway has a more defined angle, but it’s still tough. In its annual filing, Highway said it competes with many other manufacturers. These range from smaller local outfits to big global contract firms like Foxconn. It also goes up against some customers’ in-house production.
Thinly traded stocks could see more attention as the market comes under pressure. “The dam just broke today,” said Ryan Detrick, chief market strategist at Carson Group, talking to Reuters. Ohsung Kwon, chief equity strategist at Wells Fargo, said positioning, not fundamentals, played the bigger part in the selloff. Reuters
The next step might go the other way. Highway’s stock is still trading under Nasdaq’s $1 minimum, recent numbers show revenue dropping, and if prices don’t bounce back, a reverse stock split could be on the table. That would combine shares to boost the price but wouldn’t change the company’s value. If Highway can’t fix the listing issue or get an extension, Nasdaq could push to delist the stock. Highway would be able to appeal.
