Shares of Atlis Motor Vehicles (NASDAQ:AMV) plummeted after a stellar start to the trading day. After hitting a high of $243.99 per share, which equated to an almost 200% gain, the electric truck maker’s stock is now down roughly 40%.
There appears to be no fundamental catalyst to the stock’s volatility. Indeed, shares only started trading yesterday afternoon after the company raised $35 million at a price of $27.50 per share.
Investors may want to sit this one out and wait for the extreme volatility to calm down.
