Stocks

Next Technology Stock Plummets 51% on Nasdaq Delisting Threat

Exchange moves to delist the company, labeling it a 'public shell' after it ceased operations and generated no revenue in 2025.

Shares of Next Technology Holding Inc. collapsed by more than 51% on Thursday after the Nasdaq Stock Market threatened to delist the company, citing a halt to its business operations and a lack of revenue.

In a notice issued this week, Nasdaq officials stated that a review of the company's recent Securities and Exchange Commission filings led them to determine that Next Technology is effectively a 'public shell.' The exchange pointed to the company’s annual report, which disclosed it had ceased all operations in the People's Republic of China as of June 2024 and subsequently dissolved its local subsidiary. Furthermore, quarterly reports from May and August 2025 confirmed that the company has failed to generate any revenue this year.

Based on these findings, Nasdaq concluded that the continued listing of NXTT's common stock is not warranted under its rules. The regulatory action sent investors fleeing, with the stock plunging 51.75% in heavy trading. Volume surged to more than 3.3 times the daily average as the market reacted to the news.

Next Technology Holding disclosed in an 8-K filing that it disagrees with Nasdaq's assessment and will fight the delisting. The company plans to request a hearing before a Nasdaq Hearings Panel, a move that will temporarily stay any suspension or delisting action. However, the company cautioned that 'there is no assurance the appeal will be successful or that it will maintain compliance with all applicable listing requirements,' leaving its future on the exchange uncertain.