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Why Is Nuvve (NVVE) Stock Down 11% Today?


  • Nuvve (NVVE) stock is falling alongside recent insider buying.
  • This comes from cofounder Gregory Poilasne buying $100,000 worth of NVVE stock.
  • The discounted purchase price may be what’s bothering investors.
NVVE Stock - Why Is Nuvve (NVVE) Stock Down 11% Today?

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Nuvve (NASDAQ:NVVE) stock is falling on Monday even after the green energy technology company announced recent insider buying.

Gregory Poilasne, cofounder of Nuvve, purchased $100,000 worth of NVVE stock at a price of 14 cents per share. That saw the cofounder increase his stake in the company by 37%.

While insider buying is typically a good thing as it shows strength in the company, this fall could be due to the purchase price. That’s because the 14 cents per share price that Poilasne paid is a decent discount compared to the prior closing price of 22 cents per share for NVVE stock.

How This Affects NVVE Stock Today

While investors don’t appear happy about this insider buying, the company’s stock isn’t seeing much activity as of Monday morning. This only has about 122,000 shares of NVVE stock changing hands as of this writing. That’s still a far way off from the company’s daily average trading volume of about 3.3 million shares.

NVVE stock is down 11.3% as of Monday morning and is also down 66.9% since the start of the year as of Friday’s close.

Investors who are looking for even more of the most recent stock market stories are going to want to stick around!

We are offering up all of the latest insight into Monday’s stock market news that traders need to know about below! A few examples include what’s happening with Conduit Pharmaceuticals (NASDAQ:CDT), Miromatrix Medical (NASDAQ:MIRO) and the biggest pre-market stock movers on Monday morning. You can catch up on that news at the following links!

More Monday Stock Market News

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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/2023/10/why-is-nuvve-nvve-stock-down-11-today/.

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