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Why Is Chijet Motor (CJET) Stock Up 54% Today?


  • Chijet Motor (CJET) stock is rising higher on Monday after its recent debut.
  • The company’s shares started trading on the Nasdaq Exchange on Friday.
  • Chijet Motor is an electric vehicle (EV) company based out of China.
CJET Stock - Why Is Chijet Motor (CJET) Stock Up 54% Today?

Source: shutterstock.com/Nixx Photography

Chijet Motor (NASDAQ:CJET) stock is rising higher on Monday following the EV company’s public debut on Friday.

Chijet Motor’s stock, which trades under the CJET ticker, first started trading on the Nasdaq Exchange on June 2. The company says that this public listing is a major milestone as it moves forward with plans to release EVs in several countries.

Chijet Motor plans to focus on its home country of China first with the goal of providing “cost-effective new energy vehicle products and services to more than 80% of mass consumers in China.” The company also intends to spread its business to Southeast Asia, America, GCC, as well as other developing countries.

Chijet Motor intends to release its first EV in the coming years. This would be the FB77, which is an electric sedan. Other models in the works are its R9 PHEV hybrid SUV and its models FV20, FB21, and FB31. The company seeks to offer a mixture of commercial and passenger EVs with these releases.

CJET Stock Movement on Monday

Now that CJET stock is public, investors are taking notice of it this morning. This has the company’s shares seeing heavy trading today. As of this writing, more than 2 million shares of the stock have changed hands. For the record, the company traded roughly 1.7 million shares during its public debut on Friday.

CJET stock is up 54.3% as of Monday morning.

Investors looking for more of the most recent stock market news will want to keep reading!

We’ve got all of the latest stock market stories traders need to know about on Monday! Among that is what’s sending shares of Forza X1 (NASDAQ:FRZA) stock higher, the biggest pre-market stock movers this morning, and more. You can catch up on all of this news at the links below!

More Stock Market News For Monday

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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.

Article printed from InvestorPlace Media, https://investorplace.com/2023/06/why-is-chijet-motor-cjet-stock-up-54-today/.

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