Phoenix Motor's shares skyrocket 150% as Q1 results impress investors [Seeking Alpha]
Phoenix Motor Inc. (PEV)
Company Research
Source: Seeking Alpha
Phoenix Motor ( PEV ) rose in premarket trading to $0.87, vs the 52-week range of $0.32 to $1.94. The company's revenue advanced +422.2% from the year-ago-period, while diluted EPS increased to $0.44 per share, up from a loss of $0.13 per share. "Our substantial net income improvement was driven by a significant bargain purchase gain from our recent acquisition of Proterra's Transit business, which was acquired for considerably below its fair market value," Denton Peng, CEO of Phoenix Motor said. "Combined with strategic initiatives, including new product launches and key partnerships, we expect to drive accelerating momentum across all of our business segments, positioning us well for long-term growth in the rapidly evolving electric vehicle sector," Pend added. The California-based EV company's shares tanked nearly 67% year-to-date, as the majority of the EV stocks suffered due to slowing demand in major markets like the U.S. and China. Recommended For You Comments Mo
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PEV
News
- Phoenix Motor Inc. Announces Receipt of Nasdaq Delisting NoticeAccesswire
- Phoenix Motor Second Quarter 2024 Earnings: US$0.065 loss per share (vs US$0.15 loss in 2Q 2023) [Yahoo! Finance]Yahoo! Finance
- Phoenix Motor Reports Record $12M Revenue for Second Quarter of 2024 [Yahoo! Finance]Yahoo! Finance
- Phoenix Motor Reports Record $12M Revenue for Second Quarter of 2024Accesswire
- Join Phoenix Motor’s Exclusive Live Investor Webinar and Q&A Session on November 18Accesswire
PEV
Sec Filings
- 11/21/24 - Form 8-K
- 11/15/24 - Form NT
- 11/6/24 - Form SC
- PEV's page on the SEC website