NRGV - Energy Vault stock slides 13% Monday

Energy Vault (NRGV) shares slid 13% in afternoon trading Monday. Shares of the energy storage solutions company recently changed hands at $16.01, down 13%, at 1:30 p.m. ET. Energy Vault stock began trading on Feb. 14, following the company’s merger with SPAC Novus Capital Corp. II, in a deal that estimated the pro forma enterprise value of the combined company at around $1.1B. Energy Vault is a developer of technologies to help utilities, independent power producers and industrial energy users level their energy costs while maintaining power reliability. For a more in-depth look at the company, check out SA contributor WideAlpha’s “Energy Vault is a Promising But Highly Speculative Investment Opportunity”.

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Energy Vault stock slides 13% Monday