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Atlis Motor Vehicles (NASDAQ:AMV) stock is on the move Wednesday despite a lack of news from the electric vehicle (EV) company.
Instead, traders are seeing shares of the stock climb higher alongside heavy trading today. As of this writing, more than 3 million shares of the company’s stock have changed hands. To put that in perspective, the company’s daily average trading volume is only about 259,000 shares.
Taking into that low average trading volume, as well as AMV stock’s price of about $3.60 per share and market cap of 34.165, investors will want to be careful investing in the company. It seems likely that this penny stock is being targeted by retail traders for a pump and dump. Especially considering the lack of news from the company today.
For those still interested in AMV stock, here are a few facts about the company to keep in mind!
Atlis Motor Vehicles Details
- Atlis Motor Vehicles went public without an initial public offering (IPO).
- Instead, the company elected for a Reg A public listing.
- Mark Hanchett leads the company as its founder and CEO.
- The company is based out of Mesa, Ariz.
- Its focus is on developing EV battery technology.
- The company is also developing its own line of EV work trucks.
AMV stock is up 18.4% as of Wednesday afternoon.
Investors looking for more of the latest stock market news will want to stick around!
InvestorPlace has all of that news ready to go in one place! Among that is what has shares of Vivos Therapeutics (NASDAQ:VVOS), Cryptyde (NASDAQ:TYDE), and Tesla (NASDAQ:TSLA) stock moving today. You can find out more at the links below!
More Wednesday Stock Market News
- The Sleep Apnea News That Has VVOS Stock Soaring Today
- Cryptyde Investor Alert: Why Is Blockchain Penny Stock TYDE Up 100% Today?
- Hey, Tesla Investors! Cathie Wood Is Betting on TSLA Stock (Again).
On the date of publication, William White did not have (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.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: Penny Stocks — How to Profit Without Getting Scammed