SRIVARU (NASDAQ:SVMH) stock is heading higher on Thursday despite a lack of news from the electric motorcycle company.
There are no new press releases or filings with the Securities and Exchange Commission (SEC) that explain why the stock is up today. On that same note, no analysts are offering new coverage of SVMH shares this morning.
What is worth mentioning is the heavy trading that SVMH stock is experiencing right now. As of this writing, more than 5.9 million shares of the stock have been traded. That’s already well above its daily average trading volume of about 1.2 million shares.
What to Know About SVMH Stock
Investors will keep in mind that SRIVARU is still incredibly new to the public market. The company’s shares only made their public debut on Monday. That came about after a special purpose acquisition company (SPAC) merger with Mobiv Acquisition.
Considering the recent SPAC merger and public debut, it’s possible today’s rally is simply excitement from traders. The stock also appears to be recovering from dips that it saw during its first few days of trading. This volatility means investors may want to avoid SRIVARU in the near term until the stock settles down.
SVMH stock is up 34.9% as of Thursday morning.
Investors who want more of the most recent stock market stories are in luck!
We have all of the hottest market news worth reading about on Thursday! Among that is what’s going on with shares of Freight Technologies (NASDAQ:FRGT) stock, the biggest pre-market stock movers this morning and more. All of that news is ready to go at the following links!
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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.
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