ismagilov
EV maker Phoenix Motor (NASDAQ:PEV) inventory continued its current downward development on Monday, dropping 11%.
Shares of the maker of electrical autos, chargers and drive trains opened at $3.60. The inventory slid steadily downward thereafter, hitting a low of $3.11 in late afternoon earlier than closing at $3.12.
Phoenix shares have been declining since June 28 after rallying for a number of days following information that ATIF Holdings had made an funding within the firm.
A spin-out of SPI Vitality (SPI), Phoenix operates two manufacturers: Phoenix Motorcars for medium-duty EVs, EV forklifts and chargers, and EdisonFuture, which is targeted on creating lighter-duty EVs. Phoenix held a downsized $16M preliminary public providing on June 8.
For a extra in-depth have a look at Phoenix, try SA contributor Livy Funding Analysis’s “Phoenix Motor Inventory: 3 Key Dangers That Level to Future Declines”.
