Atlis Motor Vehicles (NASDAQ:AMV) stock is continuing its recent wild ride on Thursday with the company’s shares seeing massive gains.
Atlis is still an incredibly new name in the public market. The electric vehicle (EV) company held an initial public offering ( ) late last month. However, the offering wasn’t through the typical means; Atlis held a Registration A offering, which saw previously private shares added to the public exchange.
There has been quite a bit of volatility surrounding IPOs lately and AMV stock hasn’t been immune. Since its IPO, shares of AMV have seen major drops. However, that’s turning around with today’s stock movement.
Can AMV Stock Keep Today’s Momentum?
Whether AMV stock can maintain momentum remains to be seen. The company has a solid plan in mind with its initial focus on making EV batteries. It wants to expand from there to start developing and manufacturing its own electric work trucks.
While Atlis doesn’t have any revenue or earnings yet, it does have 30 patent applications. Adding to that is its current EV battery, which can reach full charge in just 15 minutes. This would see use in its planned pickup truck with an estimated radius of 500 miles per charge.
All of these factors may explain why AMV stock is seeing heavy trading today. As of this writing, over 4 million shares have changed hands. That’s quite the leap from the daily average trading volume of nearly 269,000 shares.
AMV stock is up 107.5% as of Thursday afternoon.
Investors seeking out more stock market news today are in luck!
We’ve got all the hottest stock stories worth reading about on Thursday! Among that is why shares of Rumble (NASDAQ:RUM), Code Chain New Continent (NASDAQ:CCNC) and Statera Biopharma (NASDAQ:STAB) stock are moving today. You can get all those details from the links below!
More Thursday Stock Market News
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- What Is Going on With Statera (STAB) Stock Today?
On the date of publication, William White 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.