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Benzinga

Randy Elias

What's Going On With Phoenix Motor Stock?

Phoenix Motor Inc. (NASDAQ:PEV) shares are trading higher on abnormally high volume as the stock trends across social media platforms. Strength could possibly also be due to post-IPO volatility.

According to StockTwits, Phoenix Motor was the number one trending company of the day.

The company averages approximately 395,000 shares traded over a 100-day period. At the time of publication, the volume has already exceeded 40 million.

Phoenix Motor Inc. designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles.

Phoenix Motor shares were trading about 119% higher at $7.50 per share on Wednesday at the time of publication.

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