Why EHang Holdings Stock Is Up Today
Shares of EHang Holdings (NASDAQ: EH) rebounded on Wednesday after a rough trading session on Tuesday. The stock is up 37% as of 11:30 a.m. EST, recovering some of the 62.7% drop it recorded a day prior.
Tuesday's drop was due to an unfavorable report put out by short-seller Wolfpack Research. On Wednesday, we got EHang's rebuttal.
EHang is a Chinese company developing an autonomous air taxi. The stock was having a good year heading into this week, up 450% in just six weeks, but Wolfpack deflated much of that move higher with a research report that accused the company of being "an elaborate stock promotion."
Source Fool.com
