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The new shares of LiveWire Group Inc. charged higher in premarket trading Tuesday as investors prepped for the debut of electric-motorcycle company on the New York Stock Exchange.
The debut comes after the completion of LiveWire’s reverse merger with a special-purpose acquisition company, or SPAC, called AEA-Bridges Impact Corp.
IMPX.
LiveWire had been a subsidiary of Harley-Davidson Inc.
HOG,
and the motorcycle maker has retained a controlling interest in the e-motorcycle operation after the SPAC deal’s closing.
Earnings Outlook (July 2021): Can Harley-Davidson revive a rally in its stock with an expected swing to a profit and doubling of revenue?
LiveWire’s stock, now traded under the ticker symbol “LVWR,” rallied 6.4% ahead of the opening bell. The company boasts of being the “first and only” electric-vehicle motorcycle company in the U.S. to list on the NYSE.
The stock’s ticker symbol when the SPAC was still named AEA-Bridges was “IMPX.” Under that symbol, the stock had soared 20.7% on Monday to snap a five-day losing streak in which it tumbled 23.3% to close Friday at a record low.
Harley-Davidson’s stock ran up 2% ahead of Tuesday’s open. It has climbed 13.1% over the past three months through Monday, while the S&P 500 index
SPX,
has lost 6.3%.
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