Thunder Power (NASDAQ:AIEV) stock is on the move Wednesday as investors take notice of the electric vehicle (EV) company shortly after it went public.
Thunder Power shares made their public debut on Monday. That happened alongside the closing of a special purpose acquisition company (SPAC) merger with Feutune Light Acquisition.
This saw Feutune Light Acquisition Corporation act as a vehicle to take shares of AIEV public. That resulted in shares of the SPAC’s stock switching to the AIEV ticker when markets opened on Monday.
Thunder Power founder Wellen Sham said the following about the company going public:
“Our new access to the capital markets will enable the next phase of our vehicle development. Our vehicles, with their innovative design, advanced technology and AI integration, are coming at the perfect time in our focused markets such as Taiwan.”
AIEV Stock Movement Today
With investors taking note of AIEV stock comes heavy trading of the company’s shares. This has more than 28 million units changing hands as of this writing. The company’s daily average trading volume is about 304,000 shares.
AIEV stock is up 41.7% as of Wednesday morning.
Investors will find more of the most recent stock market news ready to go below!
We have all of the latest stock market news traders need to know about on Wednesday! A few examples include what’s going on with shares of Rivian (NASDAQ:RIVN), Tesla (NASDAQ:TSLA) and Sphere Entertainment (NYSE:SPHR) stock today. All of this news is ready at the links below!
More Wednesday Stock Market News
- Wedbush Just Raised Its Price Target on Rivian (RIVN) Stock
- Stifel Just Initiated Coverage of Tesla (TSLA) Stock. What Analysts Have to Say.
- Billionaire Steve Cohen Just Took a 5.5% Stake in Sphere Entertainment (SPHR) Stock
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.
