Zoomcar (NASDAQ:ZCAR) stock is rising higher on Wednesday alongside a couple of pieces of news from the car rental company.
First off, traders will note that former Zoomcar president Adarsh Menon has left the company. He resigned from his position at the company at the end of June. The company didn’t reveal any plans for a replacement for Menon.
On top of that, Zoomcar also announced it will be late filing its Form 10-K for the year ended March 31, 2024. Zoomcar says it intends to file its annual report on or before the 15th day after the due date.
Here’s the reason for Zoomcar’s late annual filing.
“The Company requires additional time for compilation and review to insure adequate disclosure of certain information that was not available.”
ZCAR Stock Movement on Wednesday
With all of this news comes heavy trading of ZCAR stock today. That has more than 22 million shares changing hands as of this writing. This is well above the company’s daily average trading volume of about 5 million shares.
ZCAR stock is up 51.5% as of Wednesday morning.
Investors will want to keep reading for more of the most recent stock market stories!
We have all of the hottest stock market news traders need to know about on Tuesday! Among that is what has shares of Vivopower (NASDAQ:VVPR) stock up, the biggest pre-market stock movers this morning and more. All of this news is ready at the links below!
More Stock Market News for Wednesday
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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.
