SEV - Sono Group settles back after initial IPO pop

Sono Group N.V. (SEV -1.8%) trades near its post-IPO low and is more than 50% below the high mark of $47.49. Investors have pushed down the market cap on the solar energy auto player back down to about $1.4B. The company had over 16K reservations on its books as of November 5 for future deliveries of the solar-powered Sion. That order book represents about $43.9M in deposits. Trading on SEV is expected to be impacted by reservations update and the deliveries timeline. Looking ahead, the quiet period expires on Sono Group (NASDAQ:SEV) on December 27 and the IPO share lockup expires on May 16, 2022. SEV trades about 36% higher than where the IPO was priced on November 17.

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Sono Group settles back after initial IPO pop