The shares of Freehold, N.J.-based electric light- and medium-duty commercial vehicles manufacturer Cenntro Electric Group Limited (CENN) have plunged 91.8% in price over the past year and 71.8% year-to-date. Over the past three months, the stock has declined 85.7% to hit its 52-week low of $1.50 in yesterday’s trading session, closing at $1.51.
Last month, CENN announced that the company closed its fiscal year 2021 with $250 million in cash. But the company has yet to report audited fiscal 2021 financial results, which it plans to post in April 2022. In addition, CENN expects to scale production in the first quarter of 2022 through new facilities in Jacksonville, Fla., and Dusseldorf, Germany.
