Why Is Nuvve (NVVE) Stock Down 14% Today?


  • Nuvve (NVVE) stock is slipping on Wednesday.
  • That movement follows a rally yesterday.
  • Insider trading was the catalyst behind the rally on Tuesday.
NVVE Stock - Why Is Nuvve (NVVE) Stock Down 14% Today?

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Nuvve (NASDAQ:NVVE) stock is down on Wednesday after the vehicle-to-grid technology company’s shares underwent a rally yesterday.

Yesterday’s rally was the result of leaders at the company buying shares of NVVE stock. Insider buying such as this typically acts as a catalyst for a rally. That’s due to the move inspiring confidence in investors.

As a result of that buying, NVVE stock saw heavy trading on Tuesday. That had a little over 2 million shares change hands when markets closed yesterday. For the record, the company’s daily average trading volume is around 451,000 shares. This sent shares 30.9% higher yesterday.

NVVE Stock Movement Today

Considering the recent rally, it makes sense that shares of NVVE stock would retreat some today. That also comes amid low trading volume, as only around 132,000 shares have changed hands during pre-market trading on Wednesday.

Another thing that investors will want to keep in mind is NVVE stock’s status as a penny stock. This comes from its low share price of 78 cents and market capitalization of around $21 million. This means the stock is easier to manipulate and more susceptible to wild swings in price.

NVVE stock is down 14.1% during pre-market trading on Wednesday.

There’s even more stock market news traders will want to know about below!

We’ve got all of the most recent stock market coverage investors need to know about on Wednesday! That includes what’s moving shares of Secoo Holding (NASDAQ:SECO), Immunic (NASDAQ:IMUX) and 180 Life Sciences (NASDAQ:ATNF) stock today. You can read up on all of this at the following links!

More Wednesday Stock Market News

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Read More:Penny Stocks — How to Profit Without Getting Scammed

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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/04/why-is-nuvve-nvve-stock-down-14-today/.

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