Chijet Motor (CJET) stock dove on Tuesday after the Chinese electric vehicle (EV) maker provided investors with an update on its upcoming 2025 Annual General Meeting of Shareholders. The company has decided to delay the meeting from September 22, 2025, to September 25, 2025.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Chijet Motor announced the delay due to an amendment to the matters that investors will vote on during the shareholder meeting. The company has introduced a new vote on a share consolidation. It will seek investor approval for a reverse stock split that will combine 100 shares of CJET stock into a single share, which will boost the price of the shares. This might be necessary for the company as it’s listed on the Nasdaq Capital Market, which has a minimum bid price requirement of $1 per share, compared to the 9 cents per share that CJET traded for today.
Chijet Motor doesn’t just plan to consolidate shares at its next shareholder meeting. The company also wants investors to approve a name change. This would see it switch to the name “Digital Currency X Technology Inc.” This name change suggests that Chijet Motor could switch its focus from EVs to cryptocurrency, though investors will have to wait to learn more about that.
Chijet Motor Stock Movement Today
Chijet Motor stock was down 19.83% in pre-market trading on Tuesday, following an 8.58% fall yesterday. The shares have also decreased 95.06% year-to-date and 95.82% over the past 12 months. Today’s news came with strong trading, as some 3.2 million shares changed hands. That’s closing in on the company’s three-month daily average of about 4.1 million shares.
Is Chijet Motor Stock a Buy, Sell, or Hold?
Turning to Wall Street, analysts’ coverage of Chijet Motor is lacking. Fortunately, TipRanks’ AI analyst Spark has it covered. Spark rates CJET stock an Underperform (11) with no price target. It cites “severe financial and operational challenges, with negative profitability, high leverage, and liquidity issues” as reasons for this stance.
