Why Chijet Motor Company (CJET) Stock Is Exploding 100% Higher

Chijet Motor Company, Inc. CJET shares are trading higher by 100% to $7.60 Monday morning. The stock is experiencing an upward trend in trading Monday, driven by post-IPO volatility subsequent to its debut listing on the NASDAQ on Friday.

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At present, the stock has witnessed a trading volume exceeding 6 million shares, surpassing the approximately 1.7 million shares traded during its initial public offering on Friday.

Chijet specializes in developing, manufacturing, selling and servicing traditional fuel and electric vehicles. Chijet says with state-of-the-art manufacturing systems and a stable supply chain, the company offers high-performance products at competitive prices.

The Yantai factory in China will focus on EV production and serve as the company's headquarters.

According to data from Benzinga Pro, CJET has a 52-week high of $13.02 and a 52-week low of $3.49.