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      How Did The Cenntro (CENN) Stock Rise 11% This Morning? - Stocks Telegraph

      By Fahim Awan

      Published on

      March 21, 2022

      3:16 PM UTC

      How Did The Cenntro (CENN) Stock Rise 11% This Morning? - Stocks Telegraph

      Cenntro Electric Group Limited (CENN) shares were rising 11.65% to trade at $2.00% in early trades at last check. Cenntro (CENN) stock gained 17.65% to close Friday’s session at $1.80. The stock volume remained 17.84 million shares, which was lower than the average daily volume of 8.51 million shares within the past 50 days. CENN shares have fallen by -86.96% over the last 12 months, and they have moved up by 40.62% in the past week.

      Over the past three months, Cenntro stock has lost -76.00%, while over the past six months, it has shed -79.57%. Further, the company has a current market of $399.71 million and its outstanding shares stood at 48.88 million. CENN stock is surging before participating in a significant event.

      Which event will Cenntro participate?

      Cenntro (CENN) is a pioneer in electric vehicle technology, with innovative, market-proven electric commercial vehicles. Through scalable, decentralized production and completely digitalized autonomous driving solutions driven by the Cenntro iChassis, CENN intends to lead the transition in the automobile industry. Over 3,600 commercial EVs have been built and delivered by CENN in over 26 countries.

      Cenntro (CENN) management team is set to take part in the D.A. Davidson Inaugural EV and Energy Transition Virtual Conference on Tuesday, March 22, 2022. CENN’s Chief Executive Officer Peter Wang and Chief Financial Officer Edmond Cheng will take an interest in and meet with financial backers.

      • Cenntro as of late gone into a concurrence with Mosolf SE and Co. KG (“Mosolf”), one of Europe’s biggest car coordinated factors and specialist organizations.
      • Cenntro entered to gain a 65% value interest in Tropos Motors Europe GmbH (“TME”), an entirely claimed auxiliary of Mosolf.
      • CENN offered a thought measure of €3.25 million and accept 100 percent of an investor advance from Mosolf to TME in how much €11.9 million.
      • The exchange is dependent upon standard shutting conditions and is relied upon to shut in March 2022.
      • The procurement will speed up CENN’s extension inside EMEA (Europe, Middle East and Africa) and addresses a critical stage in the Company’s development procedure to be a main supplier of electric business portability.

      How CENN will use the obtaining?

      Through this obtaining, Cenntro (CENN) gains a huge topographical benefit and the expansion of key administration staff inside the European area, opening huge worldwide learning experiences for the Company. The obtaining grows Cenntro’s gathering abilities and dissemination network in EMEA and adds an essential client network in Europe.

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