Energy Vault (NYSE:NRGV) stock is on the rise Friday as retail investors pump up the stock following its public debut!
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Let’s take a look at everything potential investors need to know about NRGV stock below!
- Energy Vault is a grid-scale energy storage solutions company.
- The company’s goal is to help businesses switch to a carbon-free power grid.
- That has it focusing on the development of “sustainable and economical energy storage technologies.”
- This also means it’s working on proprietary energy storage technologies and energy management software that makes use of AI.
- It went public earlier this week via a special purpose acquisition company (SPAC) merger.
- This saw it combining with Novus Capital Corporation II and new shares started trading on Monday.
- Retail traders have taken note of NRGV stock today and are behind the massive push of the shares.
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- As a result, we’re seeing heavy trading of the company’s stock today.
- That includes more than 20 million shares of NRGV stock on the move today.
- To put that in perspective, the company’s daily average trading volume is only about 373,000 shares.
- Keeping all of this in mind, investors will want to be careful about taking a stake in NRGV stock today.
- While shares are still up, it’s likely that the pump from day traders will end eventually.
- When that happens, expect shares of NRGV stock to slip, potentially falling to prior trading levels.
NRGV stock is up 26.9% as of Friday afternoon.
Investors on the lookout for more stock market news will want to keep reading!
InvestorPlace offers up daily deep dives into the stock market with our coverage of the space. For Friday, that includes what’s hitting Redfin (NASDAQ:RDFN) stock, gas price predictions for 2022, as well as what’s behind Shake Shack (NYSE:SHAK) stock falling. You can get all of this news from the links below!
More Stock Market News for Friday
- Redfin Stock News: Why Is RDFN Down Big Today? 9 Things for Investors to Know.
- Gas Price Predictions 2022: How High Could Prices Go if Russia Invades Ukraine?
- SHAK News: Why Is Shake Shack Stock Down Today? 6 Things to Know.
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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