Phoenix Motor stock plunges in Wall Street debut [MarketWatch]
Phoenix Motor Inc. (PEV)
Company Research
Source: MarketWatch
electric vehicle's stock opened 13.3% below the initial public offering price and continued to trade lower. The company's downsized IPO priced overnight at $7.50 , at the lower end of the expected range of between $7.00 and $9.00. The company raised $15.8 million in the IPO, as it sold 2.1 million shares, down from expectations of 2.5 million shares. The stock's first trade on the Nasdaq was at $6.50 at 10:22 a.m. Eastern for 281,727 shares, to value the company at about $130 million. The stock has fallen even further, to trade recently 44.0% below the IPO price. Phoenix Motor went public at a tough time for the IPO market , as the Renaissance IPO ETF IPO, has tumbled 43.0% year to date while the S&P 500 SPX, has lost 12.9%.
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PEV
News
- Phoenix Motor to Unveil New Branding at ACT Expo 2024 [Yahoo! Finance]Yahoo! Finance
- Phoenix Motor to Unveil New Branding at ACT Expo 2024 Accesswire
- Phoenix Motor Strengthens Capital Structure by Negotiating Key Waiver with Note Holder [Yahoo! Finance]Yahoo! Finance
- Phoenix Motor Strengthens Capital Structure by Negotiating Key Waiver with Note HolderAccesswire
- Phoenix Motor Partners with Cennatic for Commercial EV Battery Solutions [Yahoo! Finance]Yahoo! Finance
PEV
Sec Filings
- 5/7/24 - Form 3
- 5/6/24 - Form 3
- 5/3/24 - Form 3
- PEV's page on the SEC website