Electrical Center (NASDAQ:NNEC) the stock is on the move Thursday as investors react to the Environmental Protection Agency ( ) issuing a Certificate of Conformity to one of the company’s vehicles.
Specifically, this certificate of compliance is for the company’s all-electric Class 4 Logistar 400 model. The certificate means the LS400 officially meets all agency emission standards and regulations. This follows the electric vehicle (EV) which completed an EPA range test in October.
The LS400 is a purpose-built electric vehicle from Cenntro Electric that focuses on multiple applications, “including last mile delivery as well as municipal and many professional services.” The EV offers a maximum payload of 7456 pounds, a top speed of 62 miles per hour and a range of 84 miles.
Peter Wang, Chairman and CEO of Cenntro, had the following to say about the EPA news:
“Achieving the EPA Certificate of Compliance is a critical step in the US certification process and validates that the LS400 can meet the range needs of our target customers providing last mile and professional delivery services in urban and suburban areas. .”
CENN stock drops despite news
Today’s news comes with a big trade in EV company stock on Thursday. As of this writing, over 7 million shares have changed hands. That’s a major jump from the average daily trading volume of 3.7 million shares.
CENN stock is down 16% Thursday morning and 93.4% year-to-date.
Investors looking for information on the latest stock market news will want to keep reading!
InvestorPlace is home to all the hottest stock market news traders need to know on Thursday. This includes what happens with the actions of IsoPlexis (NASDAQ:ISO), SWVL holdings (NASDAQ:SWVL) and ORIC Pharmaceuticals (NASDAQ:ORIC) Inventory. You can find out more at the links below!
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As of the date of publication, William White has not held (directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.