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Highlights
- The Oatly Group (NASDAQ:OTLY)stock jumped over 9% in intraday trading on Thursday, but the trading price was lower than its IPO price of US$17 per share.
- Arrival Ltd (NASDAQ:ARVL) stock jumped over 7% after the UK government’s invitation to participate in the global investment summit in London on Oct 19.
- Oatly stock declined 33% since its stock market debut in May this year, while Arrival stock grew 27% in the past one year.
Stocks of Oatly Group AB (NASDAQ:OTLY) and Arrival Ltd. (NASDAQ:ARVL) jumped more than 9% and 7%, respectively, during the final hours of trading on Thursday.
OTLY stock was priced at US$14.72, while ARVL stock traded at US$13.66 at 2:52 pm ET.
Oatly Group
Oatly Group, formerly called Havre Global, is a Swedish oat drink company. The company produces Oatly-based ice cream, yogurt, drinks, etc. It has a global presence.
The Oatly stock saw significant traction on Thursday. Its 90-day average volume is 2,479,300, and its current market capitalization is US$8.7 billion.
The company posted revenue of US$146.15 million for the quarter ended June 30, 2021, an increase of 53% percent compared to US$95.3 million in the same quarter the previous year.
Its gross profit was US$38.6 million, with a 26.4 percent gross margin. The net loss attributable to shareholders of the parent company was US$59.1 million in Q2 compared to the net loss of US$4.8 million in the year-ago period. Its loss per diluted share was US$0.11.
Bloomberg reported that Oatly is building plants in the US and overseas to meet its growing orders. However, the stock is currently trading lower than its IPO price of US$17.00 per share.
Oatly launched its IPO in May 2021, and the stock started trading on NASDAQ on May 20. The company sold 64,688,000 American Depositary Shares. Currently, it has 591.78 million shares outstanding. On Oct 6, the stock closed at US$13.5, with a share volume of 3,568,360.
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Source - pixabay
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Arrival Ltd (ARVL)
Arrival announced on Thursday that it received an invitation from the UK government to showcase its products at the Global Investment Summit in London on Oct 19. The stock rallied after the news.
Arrival is a Luxembourg-based commercial EV company. It builds EV vans and buses. The company was founded in 2015 to produce affordable electric vehicles.
Also Read: Cheap EV stocks to explore in the fourth quarter of 2021
Its shares outstanding are 620.43 million, and the market capitalization is US$8.5 billion.
In the second quarter of 2021, the company booked an adjusted EBITDA loss of €35 million, compared to a loss of €12 million in the prior year’s corresponding period.
The cash and cash equivalents were €445 million as of June 30, 2021.
On Oct 6, the stock closed at US$12.68 with a share volume of 823,852. Its 90-day average trading volume is 2,437,292.
Also Read: Three hot growth stocks under US$1400 for income investors
Bottomline
These two NASDAQ Global Select listed companies were catching investors’ attention of late for their unique offerings. However, investors should evaluate the companies carefully before investing in the stock market.
