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Phoenix Motor stock drops 11%, continuing recent decline trend (NASDAQ:PEV)

by Euro Times
July 11, 2022
in Markets
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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”.



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Tags: continuingdeclinedropsMotorNASDAQPEVPhoenixStockTrend
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