Key Highlights

  • The steepest drop of the session was 84.46%, pulling Lichen International (NASDAQ:LICN) to USD 0.0474 on 25.19 million shares. Microvast Holdings (NASDAQ:MVST) slid 63.72% to USD 0.2240 following third-quarter results.
  • iHeartMedia (NASDAQ:IHRT) lost 61.58% to USD 0.68 after adjusted EBITDA slipped 16.7% to USD 170.5 million. FutureFuel (NYSE:FF) fell 43.98% to USD 2.84 after reporting a USD 8.4 million net loss.
  • Montauk Renewables (NASDAQ:MNTK) dropped 41.91% to USD 1.62 after postponing its third quarter 2026 release, filing a late 10-Q and flagging an expected Going Concern qualification.
  • Four of the five link their declines to company releases dated November 9 or 10, 2026, while Lichen has no identified catalyst, and Leverage and going concern language recur, a pattern worth noting for Canadian investors following US-listed names.

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 called Lichen China, ended at USD 0.0474, off 84.46% from a calculated prior close of USD 0.3050, or roughly USD 0.2576 a share. Trading reached 25.19 million shares at a relative Volume of 211.14, about USD 1.19 million of activity at the close (calculated). No results release, contract, Bankruptcy notice or reverse split dated November 9 or 10, 2026 was identified, so no catalyst is named. As general context, falls this deep in sub-dollar names are often tied to discounted offerings, note conversions, delisting notices or the unwinding of a promotional spike, none of them confirmed. A Market Value of USD 4.98 million implies about 105.1 million shares (calculated), which clashes with the 16.44 million shares shown on an August 25, 2026 page, and the clash stays unresolved. Older figures list cash of USD 26.91 million, more than the market value, which is unverified. A few trades can move the price.

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

Microvast Holdings (NASDAQ:MVST), a battery manufacturer, closed at USD 0.2240, down 63.72% from a calculated prior close of USD 0.6174. Third-quarter results arrived on November 9. Revenue dropped 62.8% to USD 45.8 million from USD 123.3 million, the net loss grew to USD 76.8 million, and gross Margin sank to 5.2% from 37.6% after a USD 9.3 million inventory write-down. Adjusted EBITDA was negative USD 60.8 million, and the release stated that substantial doubt about going concern has not been alleviated. As general context, a warning like this can make lenders and customers wary. Total Debt of USD 177.0 million is about 2.1 times the calculated closing market value of USD 86.1 million, while cash and restricted cash stood at USD 124.4 million. Volume was 16.14 million shares at a relative volume of 4.01. Under USD 1.00, the general minimum bid rule becomes a question, though no notice is reported, and dilution is a risk.

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

iHeartMedia (NASDAQ:IHRT), a radio and digital audio operator, closed at USD 0.68, down 61.58% from a calculated prior close of USD 1.77. Third-quarter revenue grew 3.3% to USD 1,029.8 million, yet adjusted EBITDA slid 16.7% to USD 170.5 million, and fourth-quarter adjusted EBITDA guidance came in at USD 135 million to USD 185 million. Multiplatform revenue declined 4.9% to USD 562.4 million, with margin at 12.1% versus 20.2%. The release does not link the drop to a single item. Total debt of USD 5,024.3 million compares with a calculated closing Equity value near USD 105.3 million, about 48 times. As general context, shrinking margins hurt heavily indebted media businesses because interest absorbs cash flow. Cash was USD 139.7 million and Liquidity USD 415.8 million. Volume reached 11.31 million shares at a relative volume of 13.44. The snapshot market value of USD 321.01 million does not reconcile and goes unused. Beneath USD 1.00, the minimum bid rule is a question.

FutureFuel (NYSE:FF): Down 43.98% on a Third-Quarter Loss Despite Higher Revenue

FutureFuel (NYSE:FF), a producer of biofuel and chemicals, closed at USD 2.84, down 43.98% from a calculated prior close of USD 5.07, or about USD 2.23 a share. Third-quarter results landed after the close on November 9. Revenue jumped 361.3% to USD 104.7 million from USD 22.7 million, yet the net loss was USD 8.4 million, or USD 0.19 per diluted share, with a gross loss of USD 5.4 million. The biofuel gross loss reached USD 9.8 million, and the company anticipates roughly USD 7.0 million of adjusted EBITDA in the fourth quarter. As general context, more volume at negative margins can disappoint holders hoping growth becomes profit. Market value is USD 124.57 million on 43,863,318 shares, and the Dividend Yield is 2.76%. Cash was USD 21.3 million, with nothing drawn on the USD 35 million revolver. Volume was 1.93 million shares at a relative volume of 3.54, and the fourth-quarter recovery is the key risk.

Montauk Renewables (NASDAQ:MNTK): Down 41.91% on a Delayed Report, Lender Talks and Going Concern Warning

Montauk Renewables (NASDAQ:MNTK), a producer of renewable Natural Gas and renewable electricity, closed at USD 1.62, down 41.91% from a calculated prior close of USD 2.79. Company announcements dated November 10, 2026 said it would reschedule its third quarter 2026 Earnings release and call, and it filed a late Form 10-Q. Published coverage says it is talking to its lender about renegotiated terms for its new senior Credit Facility and expects a going concern qualification. Covenant terms, debt amounts and fresh dates were not provided and are unconfirmed. As general context, such a qualification signals doubt about meeting obligations over twelve months and can set off default provisions. Volume was 465,390 shares at a relative volume of 0.89, roughly USD 753,932 at the close (calculated). A market value of USD 229.88 million implies about 141.9 million shares and a loss near USD 166 million (calculated), with a P/E of 29.15 on trailing EPS of USD 0.06. Dilution is a risk.

Where Things Stand

The largest loser on November 10, 2026 was Lichen International (NASDAQ:LICN) at -84.46%, and the common threads are leverage, going concern language and small equity values set against debt, with Microvast, iHeartMedia and FutureFuel reacting to results released on November 9. For Canadian readers tracking US-listed stocks, big one-day drops in thinly traded names can reverse in the next session, since few shares set the price and refinancing or dilution can follow. The rankings rest on a published screener snapshot of the November 10, 2026 regular session, and Montauk Renewables (NASDAQ:MNTK) shows that a delayed report can matter as much as results.