Elong Power captured retail traders’ attention after staging a stellar rally on Friday, even as it announced a fresh share and warrant offering.
- The company said it was offering 6,666,666 units, each consisting of one Class A ordinary share, at a price of $0.00016 per share.
- The stock has surged 666% in January this year, compared with the 92% decline in 2025.
- In December, Elong Power announced that it had resolved to effect a reverse stock split of the company’s ordinary shares, with the split ratio set at 16-for-1.
A little-known battery stock delivered one of its wildest moves of the year. Elong Power Holdings shares rocketed over 3,000%, even as the thinly-traded microcap company announced a fresh share and warrant offering.
The stock has attracted intense retail attention despite dilution concerns. The stock has surged 666% in January this year, compared with the 92% decline in 2025. Before the significant surge on Friday, the stock had lost more than 62% of its value during the Jan. 16 week.
The company is a provider of high-power battery technologies for commercial and specialty alternative energy vehicles and energy storage systems.
Share Sale
The company said that it was offering 6,666,666 units, each consisting of one Class A ordinary share for a value of $0.00016 per share with one warrant, each to purchase up to one of its share, at an assumed offering price of $1.20 per unit, which is the last reported sale price as of Jan. 22. Elong Power said that it was also offering pre-funded units.
Elong Power noted that any proceeds from the sale of units and pre-funded warrants will be available for its immediate use, despite uncertainty about whether the company can use those funds to implement its business plan effectively.
Reverse Stock Split
In December, Elong Power announced that it had resolved to effect a reverse stock split of the company’s ordinary shares, with the split ratio set at 16-for-1.
The company said that the adjustment will reduce the total number of outstanding ordinary shares of Elong Power from nearly 61.3 million to about 3.8 million.
In conjunction with the reverse stock split, the company amended its Memorandum of Association to proportionately reduce the number of authorized shares for issuance and to adjust the par value of the post-reverse stock split ordinary shares to $0.00016 per share.
How Are Stocktwits Users Reacting?
Retail chatter on Elong Power was picking up steam with sentiment currently at ‘extremely bullish’ territory, compared to ‘bullish’ a week ago, and message volumes at ‘extremely high’ levels, according to data from Stocktwits.
In the last seven days, retail message volume on Stocktwits for the stock jumped 12,900%, while the ticker saw a 138% spike in followers.
A bullish user on Stocktwits noted that the stock could break the $30 mark. This implies a 115% upside from the Friday closing price.
Shares of Elong Power have declined 24% in the last 12 months.
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