Stock Alert: EHang Holdings Shares Up 12%

Shares of EHang Holdings Ltd. (EH) are currently trading at $74.62, up $8.26 or 12.45% Monday morning, with trading volume rising over 870K versus an average volume of 2.32 million shares.

As recently as on January 30, EHang announced that Carmignac, an European asset management firm, invested US$40 million on behalf of its funds in the company through a private placement of newly issued Class A ordinary shares of the company. The transaction was closed on January 29, 2021.

EHang intends to use the proceeds to further strengthen the technology advancement and business development of EHang to reinforce its leading position in the global urban air mobility or UAM industry.

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