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CENN - Why Cenntro Electric Stock Fell 15% on Friday
Cenntro Electric Group Limited
Electronic car tech specialist Cenntro Electric (NASDAQ: CENN) was trading down by 15% as of 11:30 a.m ET Friday, compared to a 0.3% drop in the S&P 500.
The decline added to the significant losses investors in the small company have experienced of late. The stock has shed over 50% so far in 2022. Cenntro announced a completed acquisition before trading began on Friday, and that news put more focus on the company's exposure to a potentially slowing European market.