Sono Group (NASDAQ:SEV) reported financial results for the year ended Dec. 31, 2021, and shares of SEV stock are flying higher by more than 70% as a result. Sono operates as a solar electric vehicle manufacturer. The company also commercializes its technology for other vehicle manufacturers.
For 2021, Sono reported its first revenue, generating $17,250. There is no doubt that the revenue figure is minuscule. The average American worker earns almost triple that every year. However, there are several other factors in the report that are driving up the price of SEV stock today.
The post Why Is Sono Group (SEV) Stock Up 70% Today? originally appeared at InvestorPlace.