CENN Stock Price Prediction 2023,2025,2030- Will It Recover?

Summary:
• CENN Stock Price Prediction: In this articles, we try to predict the price action of the NASDAQ: CENN, considering its chart and fundamentals.

Cenntro Electric (NASDAQ: CENN) stock price has been in a tailspin since its public listing. The stock appears to have become a pump-and-dump penny stock as the long-term investors question their holdings. In this article, we’ll take a shot at CENN stock price prediction in the coming years.

What Is CENN Stock?

The shares of Cenntro Electric Group Limited were listed on the Nasdaq stock exchange via a reverse merger with the publicly traded NAKD Brand Group (NASDAQ: NAKD). After the merger, the stock symbol was changed to NASDAQ: CENN as the NAKD Brand group left its business of intimate apparel.

Cenntro Electric Group Ltd Stock Latest News

According to the latest Centro Electric Group news, the company has received a non-compliance notice from the Nasdaq stock exchange. As per the details, the notice was issued due to the late filing of the annual report on Form 10-k for the year that ended on December 31, 2022. The ECV manufacturer also delayed the filing of its quarterly report on Form 10-Q for the quarter that ended on March 31, 2023.

Cenntro Electric Group Ltd Stock Chart

The following chart shows the CENN stock price action. It is worth mentioning here, that before the reverse merger of NAKD Brands Group with Cenntro Electric Group the same stock traded under the ticker NASDAQ: NAKD and represented the stock of NAKD Brand Group’s business of intimate apparel.

CENN Stock Forecast Today

CENN stock price is trading at $0.30. The stock appears to be heading for a retesting of its December 2022 lows, which lies at $0.26. From the long-term perspective, the Cenn stock price prediction is looking extremely bearish as there are no signs of any reversal.

I’ll keep updating my CENN forecast in my free Telegram group, which you’re welcome to join.

CENN Stock Price Prediction 2023

The latest technical analysis shows that the Cenntro Electric Company (NASDAQ: CENN) stock price is forming a descending triangle pattern. I expect a retest of the bottom line of this pattern in the coming days.

If the stock breaks below this level, then the CENN stock price prediction 2023 will become extremely bearish. However, an upward breakout from the trendline can send the stock price to $1.

CENN stock price prediction 2025

It is very difficult to predict the price action of the stock of an innovative tech company with limited products. Till now, Cenntro Electric Group has shipped only 3,600 vehicles which is not enough to predict the long-term valuation of the company.

The merger with a meme stock like NAKD has also affected the reputation of the company. Nevertheless, the company appears to be quite committed to ramping up its production. Recently, it has begun assembling electric trucks in Florida.

CENN stock price prediction 2030

The forecast of any stock seven years from now is really just a shot in the dark. Cenntro Eelctric Group is expected to face a fierce competition from industry giants like its competitors like Lordstown Motors (RIDE), Electrameccanica Vehicles (SOLO), REE Automotive (REE), Arrival (ARVL), and Malacca Straits Acquisition (MLAC). Considering the price action of the last two years, CENN stock price prediction 2030 is not looking bullish at the moment.

What Will CENN Stock Be Worth In 5 Years?

In the next five years, I expect the competition in the EV space to become even more fierce as many new players join the race. However, the Cenntro Electric Group will remain one of the pioneers in Electric Commercial Vehicles. If the company keeps making its vehicles more efficient and long-ranged, Cenntro stock price could see exponential growth like Tesla stock.

Why Is CENN Stock Dropping?

The ongoing slump in the Cenn stock price comes as no surprise. Firstly, the way the stock got listed on Nasdaq was not very attractive. The reverse merger of an ECV manufacturer with an intimate apparel business was frowned upon by many in the industry. It appeared to be a desperate move by the NAKD Brands Group to pump its stock price.

How To Buy CENN Stock?

If you are really looking to buy Cenn stock then there are many online brokers on which you can invest in NASDAQ: CENN. WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab are some of the most popular online brokers for US residents. Personally, I trade on Exness where the signup is free from any hassle.

Who Owns CENN Stock?

There are currently 158 institutional owners and major shareholders who currently hold the stock of Cenntro Electric Group. According to the 13D/G or 13F filings of these institutions and high-net-worth individuals, they collectively hold 26,499,134 shares. BlackRock Inc., State Street Corp, IWM – iShares Russell 2000 ETF, and Geode Capital Management are some of the largest shareholders in this regard.

Conclusion

While CENN stock price prediction is looking very bearish at the moment, it may become bullish in the future depending on the market response to the launch of the upcoming Cenntro electric vehicles. Therefore, a close eye must be kept on the financial reports and the expansion plans of the Cenntro Electric Group if you are planning to hold the stock for the long term.