Key Highlights

  • Lichen International (NASDAQ:LICN) fell 84.46% to USD 0.0474, the deepest drop of the three, on 25.19 million shares at a relative Volume of 211.14, with no catalyst identified in published coverage.
  • Microvast Holdings (NASDAQ:MVST) lost 63.72% to USD 0.2240 after third-quarter Revenue sank 62.8% to USD 45.8 million and the release said Going Concern doubt had not been alleviated.
  • iHeartMedia (NASDAQ:IHRT) declined 61.58% to USD 0.68 once fourth-quarter adjusted EBITDA was guided to USD 135 million to USD 185 million, set against total Debt of USD 5,024.3 million.
  • Market values were USD 4.98 million, a calculated USD 86.1 million and a calculated USD 105.3 million, and relative volume ran from 4.01 to 13.44 for two names and reached 211.14 for the third.

Lichen International (NASDAQ:LICN): Down 84.46% With No Identified Catalyst

Lichen International (NASDAQ:LICN), a commercial services company based in Hong Kong and previously known as Lichen China, finished the regular session on Tuesday, November 10, 2026 at USD 0.0474, off 84.46%. Basic arithmetic on the published move points to a calculated prior close near USD 0.3050 on Monday, November 9, 2026, a drop of roughly USD 0.2576 a share. Trading reached 25.19 million shares at a relative volume of 211.14, so activity ran above 200 times the recent norm, and the implied typical day is near 119,300 shares (calculated). At the closing price the session's trading was worth about USD 1.19 million (calculated), a little under one quarter of the USD 4.98 million Market Value in the snapshot. After two searches, published coverage showed no results release, trial readout, contract, Bankruptcy notice or reverse split dated November 9 or 10, 2026, so no catalyst is named. As general context only, falls this deep in sub-dollar Nasdaq names are often linked to Equity offerings at a steep discount, convertible note conversions, delisting notices or the unwinding of a promotional spike, but these are general mechanisms and not confirmed causes. Dividing the market value by the price implies about 105.1 million shares (calculated), yet a published statistics page showed 16.44 million shares and a price of USD 1.24 on August 25, 2026, a conflict left unresolved here. That page also listed cash of USD 26.91 million, which would top the market value and looks inconsistent, so it is treated as unverified. Trailing diluted EPS is USD -1.48 with growth of +96.86%, there is no P/E, and the Dividend Yield is 0.00%. In a nano-cap a few trades can move the price, spreads may be wide, and the move says nothing about later sessions.

Microvast Holdings (NASDAQ:MVST): Down 63.72% on Third-Quarter Results and Going Concern Language

Microvast Holdings (NASDAQ:MVST), a battery manufacturer, wrapped up the regular session at USD 0.2240, down 63.72%, or about USD 0.3934 a share from a calculated prior close of USD 0.6174 on Monday, November 9, 2026. The pre-market indication that morning was USD 0.3139, so the shares slipped a further 28.6% over the session (calculated). The catalyst named in the company release is the third-quarter report issued on November 9. Revenue dropped 62.8% to USD 45.8 million from USD 123.3 million, sales volume declined 62.2%, and gross Margin fell to 5.2% from 37.6% after a USD 9.3 million inventory write-down. Operating expenses climbed to USD 69.0 million from USD 31.6 million on USD 35.7 million of asset impairments, the net loss grew to USD 76.8 million from USD 1.5 million, and adjusted EBITDA was negative USD 60.8 million. The release offered no numerical guidance and said substantial doubt about going concern has not been alleviated. As general context, a going concern warning can leave lenders and customers cautious, and a revenue decline of this size pushes analysts to reset forecasts. On 384.5 million shares outstanding at September 30, 2026, the calculated market value dropped to about USD 86.1 million, and the snapshot's USD 238.31 million matches the prior close, so it is treated as stale. Total debt of USD 177.0 million is about 2.1 times that figure (calculated), against cash and restricted cash of USD 124.4 million. Volume was 16.14 million shares at a relative volume of 4.01, worth about USD 3.62 million (calculated). Trailing diluted EPS is USD -0.03 and there is no P/E. Dilution, more impairments and a continued slide are risks, and a move of this scale does not imply any recovery.

iHeartMedia (NASDAQ:IHRT): Down 61.58% on Third-Quarter Results and Fourth-Quarter Guidance

iHeartMedia (NASDAQ:IHRT), a radio and digital audio operator, wrapped up the regular session at USD 0.68, down 61.58%, or about USD 1.09 a share from a calculated prior close of USD 1.77 on Monday, November 9, 2026. The pre-market indication was USD 1.28, so the shares slipped a further 46.9% over the session (calculated). The catalyst identified is the third-quarter release of November 9 and its outlook. Revenue grew 3.3% to USD 1,029.8 million and the net loss narrowed to USD 8.2 million from USD 65.8 million, but adjusted EBITDA slid 16.7% to USD 170.5 million from USD 204.8 million. Fourth-quarter adjusted EBITDA was guided to about USD 135 million to USD 185 million, including roughly USD 100 million of net negative non-cash Marketing impact, and full-year adjusted EBITDA to about USD 550 million to USD 600 million. Multiplatform revenue declined 4.9% to USD 562.4 million with margin at 12.1% versus 20.2%, while Digital Audio grew 13.8% to USD 388.7 million. The release does not link the drop to a single item. As general context, shrinking margins weigh on heavily indebted media businesses because interest costs soak up cash flow. Total debt of USD 5,024.3 million compares with a calculated closing equity value near USD 105.3 million, about 48 times, on 154.8 million shares as of November 4, 2026. The stockholders' Deficit was USD 2,015.4 million and cash was USD 139.7 million. Volume reached 11.31 million shares at a relative volume of 13.44, worth about USD 7.69 million (calculated). Trailing diluted EPS is USD -1.84, there is no P/E, and the dividend yield is 0.00%. Leverage, Advertising cycles and refinancing risk stand out, and a drop of this size does not imply any later direction.

Where Things Stand

The three largest losers among market movers on November 10, 2026 were Lichen International, Microvast Holdings and iHeartMedia, tied together by sub-dollar closing prices and steep losses on heavy volume. Two posted weak third-quarter figures on November 9, while Lichen International had no catalyst identified. The rankings rest on a published screener snapshot of the November 10, 2026 regular session. For Canadian readers following US-listed names, large one-day falls in thinly traded or highly indebted companies can reverse in the next session, since a few trades can move the price and spreads can be wide.