What Is Going on With Amprius (AMPX) Stock Today?


  • Despite a dip in the overall market, Amprius (AMPX) stock is flying more than 50% higher today.
  • Having gone public just over a month ago, Amprius sports a volatile trading range with a high of $26.01 and a low of $5.64.
  • AMPX stock appears to be rallying on broad speculation within the electric vehicle (EV) and lithium battery space.
Person holding mobile phone with logo of American company Amprius Technologies (AMPX) Inc. on screen in front of web page. Focus on phone display. Unmodified photo.
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Amprius Technologies (NYSE:AMPX) stock is exploding higher today in what’s proving to be a mixed trading session. Although the S&P 500 is making new lows on the day, AMPX stock is up more than 50% as of this writing.

Given this move, one would think that Amprius inked a big new contract or that there was some merger involved. Those less familiar with the company might have even thought it was an initial public offering (IPO). But there is no company-specific news driving AMPX stock higher.

Amprius went public just last month, on Sept. 15. In the company’s first session, shares opened at $9.01 and traded as high as $26.01. Unfortunately, though, volatility only worked in favor of the bulls for a moment; shares closed at $10 that day.

So, what’s got often-volatile AMPX stock running now?

A Deeper Look at AMPX Stock

Broader speculation in the battery and electric vehicle (EV) space appears to be driving shares of AMPX stock higher today. As of this writing, both Microvast (NASDAQ:MVST) and penny stock Mullen Automotive (NASDAQ:MULN) are up more than 40% for the day. In particular, Mullen is rallying after completing its acquisition of Electric Last Mile Solutions (OTCMKTS:ELMSQ).

That’s not all, though — lithium stocks are also rallying right now. Sociedad Química y Minera de Chile (NYSE:SQM) and Albemarle (NYSE:ALB) are up more than 1% while Lithium Americas (NYSE:LAC) is up more than 2%. And of course, Tesla (NASDAQ:TSLA) will report earnings after market close today. That should be a big driver for EV stocks tomorrow, in either direction.

All of this comes amid a backdrop of lower U.S. stock prices on the day. So, it appears that AMPX stock is simply joining in on the momentum.

As for Amprius itself, the company claims to have the “highest energy density lithium-ion batteries in the world” which provide “game-changing performance in energy density and cycle life.” Amprius’ batteries have applications in aerospace, EVs and wearables.

That said, the company has yet to generate meaningful revenue despite its $1 billion market capitalization as of this writing. Analysts also expect a net loss both this year and next, with losses forecast to grow about 50% from 2022 to 2023.

So, although Amprius may have upside potential, it may be best for investors to remember the current investment climate. For the time being, AMPX stock is a speculative holding.

On the date of publication, Bret Kenwell did not hold (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.

Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.

Article printed from InvestorPlace Media, https://investorplace.com/2022/10/what-is-going-on-with-amprius-ampx-stock-today/.

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