ERJ - EV air taxi provider Eve stock rebounds 13% after dropping 22% in prior session

EV air taxi provider Eve (EVEX) saw its shares rebound 13% in afternoon trading Tuesday after diving 22% in the previous session. Shares of Eve opened at $7.71 and reached a high of $9.49 in late afternoon before moving lower. The stock recently changed hands at $8.54, up 13%, at approximately 3:30 p.m. ET. On Tuesday, Eve shares fell 22% to close at $7.74. Eve went public on May 10  through a merger deal with SPAC Zanite Acquisition Corp. that pegged the combined company at a pro forma enterprise value of around $2.4B. Created by Brazilian aerospace company Embraer (ERJ), Eve has been working on electrical vertical takeoff and landing vehicles, also called eVTOLs, that can be used as air taxis in urban areas. Following the IPO, Embraer was to maintain an 80% stake in Eve. For more SPAC news, check out SA’s SPAC News page.

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EV air taxi provider Eve stock rebounds 13% after dropping 22% in prior session