Carbon Revolution (NASDAQ:CREV) stock is on the rise Monday after the company’s shares made their public debut on Friday.
Carbon Revolution stock went public through a merger with special purpose acquisition company (SPAC) Twin Ridge Capital Acquisition Corp. The company’s focus is on the creation of lightweight carbon fiber wheels.
Jake Dingle, CEO of Carbon Revolution, said the following about the company’s going public:
“We have come a long way over the last decade in developing and then further expanding the global footprint of our carbon fiber wheel technology, and we’re just getting started.”
What Else to Know About CREV Stock
Carbon Revolution also has a strong board of directors behind it. That includes former General Motors (NYSE:GM) Vice Chairman Bob Lutz joining its board. On that same note, former Ford (NYSE:F) Vice President Jacqueline Dedo is also taking a seat on the company’s board.
It’s also worth mentioning that Carbon Revolution has already secured 18 vehicle programs for six global OEMs. Among these are Ford, General Motors, Renault (OTCMKTS:RNLSY), Ferrari NV (NYSE:RACE) and Jaguar Land Rover.
Today’s 362.6% gain for CREV stock comes alongside some 76,000 shares changing hands. For the record, its average daily trading volume is about 16,000 shares. Carbon Revolution (NASDAQ:CREVW) warrants are also climbing 46% higher this morning.
Investors looking for more of the most recent stock market news are going to want to stick around!
We’re checking out all of the hottest stock market news that traders need to know about on Monday! That includes a look at the biggest pre-market stock movers this morning, the latest news concerning the latest electric vehicle (EV) news and more. All of that news is available down below!
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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.