Shares of energy company NextNRG soared 811%. Nasdaq delisted them
NextNRG designs and maintains off-grid power systems, develops software for power management, and supplies electric vehicle charging systems / Photo: Shutterstock.com
Shares of NextNRG, a small company that provides mobile vehicle refueling services and supplies AI systems for power generation and management, soared 811% on November 11. The company announced that the Nasdaq Commission had decided to delist its shares—the exchange suspended trading in them on November 12. NextNRG intends to challenge the decision.
Details
NextNRG shares rose 811.5% on the Nasdaq on November 11, reaching $1.7. On the same day, the company announced that the exchange would suspend trading of its shares at the market open on November 12 due to a delisting decision.
NextNRG failed to meet two Nasdaq requirements: a minimum share price of $1 and a minimum market capitalization of $35 million. By comparison, on November 11—taking the rally into account—the company’s market value was $2.87 million.
Micro Cap announced that it has filed a request for reconsideration of the commission’s decision and intends to appeal to a higher authority—the Nasdaq Listing and Hearing Review Council. For now, NextNRG expects its securities to be listed on the OTC Markets under the same ticker symbol, NXXT.
What Is Known About the Company
NextNRG, in its current form, was formed in February 2025 following the merger of the struggling publicly traded company EzFill Holdings—which was engaged in mobile refueling for cars and boats— and the privately held NextNRG, which specialized in clean energy and energy technologies.
Since then, the company's stock has fallen 99.46%.
The merger took the form of a stock swap and was accompanied by a $15 million stock offering to repay debts, replenish working capital, and expand the business.
With its integration into EzFill’s core business, the company has expanded into the fields of energy infrastructure and AI technologies. NextNRG designs and maintains autonomous local power systems, develops software for power supply management, and supplies electric vehicle charging systems. At the end of the second quarter, NextNRG’s revenue grew 41% year-over-year to $27.7 million, while its net loss for the same period fell by nearly 82% to $6.6 million.
