Why Is Volcon (VLCN) Stock Up 59% Today?

Volcon (NASDAQ: VLCN ) stock is on the rise Friday after Empery Asset Management, LP took a stake in the electric powersport vehicle company. A filing with the Securities and Exchange Commission (SEC) reveals that Empery Asset Management, LP 9.99% stake in the company. That comes from 500,000 shares os VLCN stock, 19,900,767 shares available if exercising warrants and 21,080,129 shares available upon converting notes.

It’s worth noting that there are some restrictions on the shares Empery Asset Management, LP owns. That includes a blocker on the warrant to prevent it from taking a greater than 4.99% stake in the company by exercising them. On that same note, the convertible notes also have a blocker. This one doesn’t allow the investment firm to hold a more than 9.99% stake in the company through converting those notes.

VLCN Stock Movement on Friday With all of this news comes heavy trading of VLCN stock on Friday. That has more than 26 million shares of the stock changing hands as of this writing. This is well above its daily average trading volume of about 7.1 million shares. VLCN stock is up 59.1% as of Friday morning.

Investors seeking out even more of the latest stock market stories are in the right place! We have all of the hottest stock market stories traders need to know about on Friday! That includes the biggest pre market stock movers this morning, the latest news concerning TSR (NASDAQ: TSRI ) and more. All of that news is ready to go at the following links! More Friday Stock Market News Today’s Biggest Pre Market Stock Movers: 10 Top Gainers and Losers on Friday TSRI Stock Earnings: TSR Reported Results for Q2 2024 EDUC Stock Earnings: Educational Development Beats EPS, Misses Revenue for Q3 2024 On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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