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Why EHang Holdings Stock Is Up Today

TheMotleyFool 
0 0 17.02.21
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."

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Source Fool.com

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