SEV - Sonos Group stock settles after eye-popping rally

Sono Group N.V. (NASDAQ:SEV) is returning from the stratosphere after surging to a nearly 70% gain on Tuesday. The German electric automaker saw shares skyrocket earlier this week after reporting earnings and marking a major milestone by generating the firm’s first revenues.  “We’re scaling up our Sono Solar business, have delivered several products to B2B customers in the last months, and thus generated first revenues,” CEO and co-founder Laurin Hahn said. “Our proprietary solar technology is already contributing to climate protection and the reduction of CO2 emissions on Munich public transport and supporting the city’s clean air targets. These examples showcase our plan to diversify our business by establishing our B2B solar business as a strategic pillar, equal to our solar electric vehicle, the Sion.” Trading volume soared on the optimism offered by management and stretched many momentum indicators such as the Relative Strength Index.  Just prior to the opening bell,

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Sonos Group stock settles after eye-popping rally