Atlis Motor Vehicles Stock Is Soaring: What's Going On?

Atlis Motor Vehicles Inc AMV shares continue to surge Wednesday following the company's listing on the Nasdaq on Tuesday. 

Atlis made its debut on the Nasdaq through a Reg A financing after raising more than $35 million through Reg A and Reg CF crowdfunding offerings.

The stock jumped almost 200% on Tuesday and closed above $82 per share. It's up close to 200% again on Wednesday.

In a recent regulatory filing, Atlis reported a net loss of $17.29 million or $2.06 per share in its most recent quarter versus a net loss of $6.18 million or $1.65 per share year-over-year.

Atlis is a vertically integrated work-focused EV technology ecosystem and battery company developing an electric work truck and the batteries to power it.

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AMV Price Action: Atlis shares were up 186.7% at $235.40 at time of publication, according to Benzinga Pro.

Photo: Stan Petersen from Pixabay.