Are the High Costs of Warrants Fueling Lotus Technology's Rise?

Quick Summary:

Key Takeaways: Lotus Technology said its backers could raise up to $173 million if holders of warrants to buy its stock at $11.50 per share exercise those warrants

The stock currently trades well below the exercise price, but has rallied more than 40% in the last two weeks, hinting that some believe the company is undervalued By Doug Young

The road for aspiring luxury electric vehicle (EV) maker Lotus Technology Inc. (NASDAQ: LOT) has been anything but smooth since it completed its backdoor listing in February.

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Article Details

Author / Journalist: The Bamboo Works

Category: Technology

Markets: United StatesChina

Topics: LOT Asia Contributors US88160R1014 Benzinga Tech TSLA Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-10 @ 15:06:24 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 1126 words

Reading Time: 7 minutes read

Sentences: 40 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 20931381

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