Key Highlights

  • Shares fell 31.74% to USD 0.5425 in regular trading on November 3, 2026.
  • A 1-for-3 reverse split takes effect on November 5, 2026.
  • Shares outstanding will fall from 5,305,950 to about 1,768,650.
  • Revenue was USD 6.36 million in the six months to March 31, 2026, down 3.1%.
  • The net loss for that period was USD 3.74 million against USD 1.03 million a year earlier.

What Hit EZGO Shares Today (down USD 0.2523, 31.74%)

EZGO Technologies (NASDAQ:EZGO) was down 31.74% to USD 0.5425 in regular trading on November 3, 2026, a fall of USD 0.2523. That implies a prior close of about USD 0.7948, calculated. About 424.4K shares changed hands, according to the screen.

The likely trigger is a company press release dated November 3, 2026 announcing a one-for-three reverse split of its ordinary shares. Reverse splits at this stage of a share price decline often weigh on prices because they signal strain on the listing, and this company's own history fits that pattern.

The Reverse Split in Detail

The board approved the split on August 6, 2026, and shares will begin trading on a post-split basis on November 5, 2026 under the same ticker with a new CUSIP of G5279F128. Three issued ordinary shares will combine into one. Issued and outstanding shares will fall from 5,305,950 to about 1,768,650.

The company said the purpose is to raise the per-share price so it can maintain compliance with Nasdaq continued listing requirements, and that the shares remain on the Nasdaq Capital Market. No Shareholder vote was held because British Virgin Islands law did not require one. The release is inconsistent on fractions, saying both that they are rounded to the nearest whole share and that holders receive a full share.

This is the third reverse split in roughly a year. A one-for-25 split took effect on November 21, 2025, and a one-for-150 split on May 19, 2026. Combined with the new one-for-three, the cumulative ratio is 11,250, calculated.

Business Background and Recent Results

EZGO describes itself as a short-distance transportation solutions provider in China. It runs an Internet of Things platform and designs, manufactures and distributes electric mobility products, intelligent robots, and accessories such as batteries, charging facilities and electronic control systems.

In a filing dated August 14, 2026 covering the six months ended March 31, 2026, net revenues from continuing operations were USD 6,363,076, down 3.1% from USD 6,565,367 a year earlier. Gross Profit fell to USD 381,756 from USD 671,468, and gross Margin narrowed to 6.0% from 10.2%.

The net loss was USD 3,740,252 against USD 1,028,074 from continuing operations a year earlier. Operating Cash Flow from continuing operations was an outflow of USD 6,257,683, compared with an inflow of USD 204,129.

Balance Sheet and Risks

Cash and cash equivalents were USD 811,852 as of March 31, 2026, compared with USD 517,338 at September 30, 2025. Set against a cash outflow from operations of more than USD 6 million in the period, that balance is thin and suggests a continued need for outside funding.

The Market Capitalisation shown on the screen is not consistent with the share count in the release, so this article does not rely on it. As a penny stock, EZGO can be highly volatile and thinly traded, and funding through new share issuance carries dilution risk. A reverse split does not change the underlying business, and past splits have been followed by sharp declines.

What to Watch Next

Investors will look at how the stock trades once the split takes effect on November 5, 2026, and whether the price holds above the Nasdaq minimum. Updated financial results, any new financing and progress in electric mobility and robotics sales will also matter.