Today, one popular stock that is unfortunately moving in the wrong direction is Cenntro Electric (NASDAQ:CENN). CENN stock closed down more than 4%, despite having what appears to be an intriguing catalyst on the horizon.
Formerly Naked Brand, Cenntro is a company that has significantly shifted its focus. This former swimsuit and intimates retailer has shifted to electric vehicles as part of a high-profile merger. The company has looked to the EV sector for growth, focusing on being a leading designer of light- and medium-duty electric commercial vehicles.
Cenntro has been around for some time, and actually has garnered a significant number of sales. Reportedly, more than 3,600 units have been sold across 16 different countries. Accordingly, this is certainly a unique EV stock to take a look at right now.
Let’s dive into the big catalyst investors may want to put on their radar.
What to Watch With CENN Stock on March 8
Yesterday, Cenntro Electric announced the company would be participating in the World Truck Show, held from March 8-11, in Indianapolis, Indiana. Coverage of this event will likely to spur some interest in companies that may not otherwise get many eyeballs. For investors in CENN stock, this event is one that many have on their radar in the next few weeks.
Notably, Cenntro will be sponsoring the Green Truck Summit educational series at the event, where attendees will learn about the company’s various initiatives.
For Cenntro, any coverage is good coverage. For now, risk-off sentiment among investors in the electric vehicle sector have shares of CENN stock on the decline. However, as we have seen previously, anything’s possible. Accordingly, there may be some speculators and aggressive investors that may want to give CENN stock a look ahead of March 8.
On the date of publication, Chris MacDonald 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.