Einride shares surge 90% in Nasdaq debut after SPAC merger
By
Eric Rosenbaum
2d ago· 6 min readenNews
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Summary
Autonomous EV freight trucking company Einride went public on the Nasdaq under ticker "ENRD" via a SPAC merger with Legato Merger Corp. III. Shares surged up to 90% on the first day of trading, triggering a temporary trading halt due to Nasdaq's limit up-limit-down protocol. The company's pre-equity value had fallen to $1.35 billion upon final shareholder approval of the SPAC deal.
Key quotes
· 3 pulledEinride shares were higher by as much as 90% during trading on Wednesday morning.
Trading was temporarily halted by the Nasdaq mid-morning due to the the rapid move in shares, based on its 'limit up-limit-down' protocol.
Einride's pre-equity value had fallen to $1.35 billion upon final shareholder approval of its SPAC deal with Legato Merger Corp. III last week.
Self-driving freight truck technology company Einride rose significant in its first day of trading on the Nasdaq after a SPAC deal.