Eve Holding (NYSE: EVEX) stock is up 45% this morning by some tickers and reporting services. Others have it as not moving very much if at all. The secret here is that yes, the last trades are indeed at wildly different from normal or last closing prices. We can, therefore, and if we really want to, say that EVEX stock is up 45%. We’d also be able to be more sensible and say that it isn’t.
What’s done at Eve Holdings: “Eve Holding, Inc., together with its subsidiaries, develops urban air mobility solutions. It is involved in the design and production of electrical vertical take-off and landing vehicles (eVTOLs); provision of eVTOL service and support capabilities, including material services, maintenance, technical support, training, ground handling, and data services; and development of urban air traffic management systems.” OK, so that’s the offshoot of Embraer which works on VTOL.
Fair enough and at a $1,5 billion or so market capitalisation not the sort of thing we’d expect to move 45% in a morning. And, from the usual sources, it hasn’t:
Eve Holding stock price from Google Finance
But if we look in greater detail we see that EVEX has indeed moved that 45%:
Eve Holding trades from NASDAQ
Ah, OK then, back as we were. Someone’s either playing games with fifty bucks or we’ve a very bad - and cheap - attempt to move the price when closing out on a derivatives deal.
For the rest of us this means nothing at all. Eve Holding stock has, in theory, moved 45% this morning. But in reality it’s unchanged since Friday - and we’re all into reality, not theory, right?
