BYD (OTCMKTS:BYDDF) stock is on the move today despite a lack of news concerning the electric vehicle (EV) company.
Even without news, BYDDF stock is seeing heavy trading today. This has some 573,000 shares on the move as of this writing. That’s well above the company’s daily average trading volume of roughly 136,000 shares. It’s also worth pointing out we saw the company’s stock jump when markets opened this morning only to suffer a fall shortly afterward.
Let’s take a look at what investors interested in BYDDF stock need to know about the company.
- BYD is a Chinese manufacturing company founded in 1995 and based out of Shenzhen, Guangdong.
- The company operates in the automotive business through its subsidiary, BYD Auto.
- BYD Auto was founded in 2003 following the acquisition of Qinchuan Automobile Company by BYD in 2002.
- It also operates in North America via its U.S. headquarters in Los Angeles, Calif.
- Recent news concerning BYDDF includes it partnering with Toyota Motor Company (NYSE:TM).
- This will have them working together to create an EV similar to the Toyota Corolla.
- This new EV will be exclusive to the Chinese automotive market.
- It’s also worth pointing out that BYD’s cars have been doing well in its home country.
- For the first three quarters of 2021, four of the company’s cars were among the top 15 sellers in China.
- If we narrow that down to the month of September, then five of BYD’s cars make it into the top 15 on the list.
BYDDF stock is down 2.2% as of Thursday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.