Nuvve's reverse split reduced the number of outstanding shares from approximately 6.5 million shares to slightly more than 530,000 shares.

Nuvve Holding Corp. NVVE shares are trading higher Wednesday. The stock began trading on a 1-for-10 reverse split basis at Tuesday's opening bell.

The Details:

Nuvve's reverse split reduced the number of outstanding shares from approximately 6.5 million shares to slightly more than 530,000 shares. The stock saw a spike in trading volume Wednesday morning and reached an intraday high of $7.60, according to data from Benzinga Pro.

Read Next: NVIDIA, Salesforce Announce Strategic AI Collaboration: What To Know

Nuvve provides its V2G intelligent energy platform which manages power among electric vehicle (EV) batteries and the grid. Nuvve has deployed V2G on five continents and offers turnkey electrification solutions for fleets of all types

According to data from Benzinga Pro, Nuvve shares are down by 90% year-to-date and are trading slightly above the stock's 52-week low of $3.51.

Should I Sell My NVVE Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Nuvve Holding stock currently has an RSI of 39.47, indicating neutral conditions.

For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.

NVVE Price Action: According to Benzinga Pro, Nuvve shares are up 26.4% at $5.36 at the time of publication Wednesday.

Read Also:

What's Going On With Amazon Stock?

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs