Key Highlights

  • Lichen International (NASDAQ:LICN) tumbled 84.46% to USD 0.0474 on November 10, 2026, on 25.19 million shares, with a snapshot Market Value of USD 4.98 million and no catalyst identified.
  • Zeta Network Group slid 38.90% to USD 0.66 from USD 1.08, following three reverse splits since 2025, in a nano-cap valued at USD 3.3 million whose conflicting Volume figures stay unconfirmed.
  • Digital Brands Group dropped 24.71% to USD 0.1450, under four months after a 1-for-40 reverse split, with a market value of USD 135.36 thousand and trailing EPS of USD -206.58.
  • Founder Group lost 21.94% to USD 1.09, and Vivakor lost 20.83% to USD 0.3003, where about USD 15.2 million of convertible notes were retired according to a November 9 release.

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

Lichen International (NASDAQ:LICN), a Hong Kong based commercial services firm, finished at USD 0.0474, a fall of 84.46% from a calculated prior close of USD 0.3050 on Monday, November 9, 2026, or roughly USD 0.2576 per share. Published coverage showed no results release, trial readout, contract, Bankruptcy notice or reverse split dated November 9 or 10, so no catalyst is named. As general context, slides of this size in sub-dollar Nasdaq names are often tied to discounted offerings, note conversions, delisting notices or the fading of a promotional spike, and none is confirmed. Trading of 25.19 million shares at a relative volume of 211.14 means turnover ran over 200 times the recent norm, roughly USD 1.19 million at the close (calculated). The USD 4.98 million market value implies about 105.1 million shares, which clashes with 16.44 million shares on an August statistics page. Older cash of USD 26.91 million looks inconsistent with that market value and is unverified. A few trades can move the price.

Zeta Network Group (NASDAQ:ZNB): Down 38.90% With No Catalyst Identified

Zeta Network Group (NASDAQ:ZNB), once called Color Star Technology and focused on digital infrastructure, Fintech and crypto mining, finished at USD 0.66, a fall of 38.90% from a prior close of USD 1.08 on Monday, November 9, 2026, or USD 0.42 per share. Published coverage found no catalyst: no results, guidance, offering, contract or analyst action dated November 9 or 10. The shares had already lost 5.26% on November 9, and coverage from October 2 described a jump from about USD 1.06 to USD 1.54 on volume above 28 million shares, followed by a 29.22% decline on October 5. As general context, stocks that went through reverse splits of 25-for-1 in 2025, 100-for-1 in February 2026 and 8-for-1 in July 2026 often trade on thin floats. Trading was 279,970 shares, roughly USD 184,780 (calculated), yet a relative volume of 0.02 implies an average near 14.0 million shares, so the figures conflict and are unconfirmed. The USD 3.3 million market value implies about 5.0 million shares, and trailing EPS was USD -1,458.48.

Digital Brands Group (NASDAQ:DBGI): Down 24.71% With No Catalyst Identified

Digital Brands Group (NASDAQ:DBGI), an apparel Brand owner, finished at USD 0.1450, a fall of 24.71% from a calculated prior close of USD 0.1926, or about USD 0.0476 per share. Published coverage showed no release, filing or analyst action dated November 9 or 10, 2026, so the cause is not established. A 1-for-40 reverse split effective July 24, 2026 trimmed shares from about 23 million to about 575,000, yet the USD 135.36 thousand market value implies about 933,500 shares now, an increase of roughly 62% (calculated). As general context, a slide far under USD 1.00 soon after a split often reflects new share issuance, which is not confirmed. Trading was 3.49 million shares at a relative volume of 0.29, roughly USD 506,000 (calculated), or about 3.7 times the implied share count. Trailing EPS was USD -206.58 with growth of +94.24%. A one-cent move equals about 7% (calculated), and more dilution plus a fresh Nasdaq bid deficiency are risks.

Founder Group (NASDAQ:FGL): Down 21.94% With No Catalyst Identified

Founder Group Limited (NASDAQ:FGL), a Malaysian solar contractor, finished at USD 1.09, a fall of 21.94% from a calculated prior close of USD 1.40, after a pre-market quote of USD 1.19 on November 10, 2026. Published coverage showed no company release, filing or analyst action dated November 9 or 10, so no catalyst is identified. Recent items include an October 23 notice that it regained compliance with Nasdaq's minimum publicly held shares rule and an August 27 announcement of a 100-for-1 share combination. The close is 39.1% under USD 1.79 on October 26 (calculated). As general context, stocks often drift lower after a combination as small-float holders sell. Trading was 526.61K shares at a relative volume of 0.68, roughly USD 574 thousand (calculated). The snapshot market value of USD 80.97 thousand implies only about 74,284 shares, fewer than changed hands, so it looks like a display error and is unconfirmed. Trailing Revenue was USD 29.73 million with a net loss of USD 1.91 million. Dilution and a small float are risks, and a Reversal is as likely as another leg down.

Vivakor (NASDAQ:VIVK): Down 20.83% With No Catalyst Identified, Convertible Notes Retired as Context

Vivakor (NASDAQ:VIVK) traded at USD 0.3003, a fall of 20.83% from a calculated prior close of USD 0.3793, or about USD 0.0790. Trading was 26.74 million shares at a relative volume of 0.95, roughly USD 8.03 million (calculated). The only dated company item found is a November 9, 2026 release stating that four convertible notes held by J.J. Astor and Co., with original Face Value of about USD 15.2 million, are fully retired, the last converting on November 6; it gave no shares issued or conversion price. No published coverage links the drop to one event, so no catalyst is identified. As general context, note holders who convert add shares to the float, and their sales can weigh on a price, particularly after the 1-for-15 reverse split announced on September 30. The USD 482.58 thousand market value implies about 1.6 million shares (calculated). Trailing revenue was USD 89.55 million against a net loss of USD 103.26 million. An October 23 quote of USD 1.44 is hard to square, so check a live quote. A few trades can move the price.

Where Things Stand

The largest micro-cap decliner under USD 5 million in market value on November 10, 2026 was Lichen International (NASDAQ:LICN), down 84.46% with no catalyst identified. Zeta Network Group (NASDAQ:ZNB) lost 38.90%. Digital Brands Group (NASDAQ:DBGI) lost 24.71%. Founder Group (NASDAQ:FGL) lost 21.94%. Vivakor (NASDAQ:VIVK) lost 20.83%. The shared feature is a snapshot market value from USD 80.97 thousand to USD 4.98 million, with reverse splits or dilution in their recent history. Large one-day moves in thinly traded names can reverse the next session, and these lists rest on a published screener snapshot of the regular session on November 10, 2026.