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How Did EVs Do Today?
EV maker Phoenix Motor stock tumbles 39% following $16 million IPO.
EV maker Phoenix Motor (PEV) stock tumbled 39% following its downsized $15.8M initial public offering on Wednesday.
Shares of PEV, which is a spinout of SPI Energy (SPI), opened at $6.50 per share after being priced at $7.50. The stock recently changed hands at $4.60, down 39%.
PEV is a maker of EV drive trains, chargers and light-to-medium duty EVs. It operates two brands: Phoenix Motorcars for medium duty EVs, EV forklifts and chargers, and EdisonFuture, which is focused on developing lighter duty EVs.
Others:
- GM: down 1.8% today;
- F: down 1.5% today;
- TSLA: up 1.3% today;
- RIDE: up 3% today; trading at $1.90;
- NKLA: up 9% today; trading at $7.02;
- ELMS: down 2.3% today; trading at 58 cents;
- GOEV: up almost 6% today; trading at $3.39
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