American Electric Power Company Inc
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Utilities : Electric Utilities | Large Cap Value
Company profile

American Electric Power Company, Inc. (AEP) is a public utility holding company that owns, directly or indirectly, all of the outstanding common stock of its public utility subsidiaries and varying percentages of other subsidiaries. The service areas of the Company's public utility subsidiaries cover the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. The Company's segments include Vertically Integrated Utilities, Transmission and Distribution Utilities, AEP Transmission Holdco, and Generation & Marketing. AEP's vertically integrated utility operations are engaged in the generation, transmission and distribution of electricity for sale to retail and wholesale customers. Transmission and Distribution Utilities segment consists of the transmission and distribution of electricity for sale to retail and wholesale customers. AEP Transmission Holdco develops, constructs and operates transmission facilities.

Closing Price
$85.37
Day's Change
0.55 (0.65%)
Bid
--
Ask
--
B/A Size
--
Day's High
85.54
Day's Low
84.28
Volume
(Light)
Volume:
2,276,418

10-day average volume:
3,226,737
2,276,418

UPDATE: Kaixin Auto stock plunges after a 'surprise' rocket ride higher

2:53 pm ET October 20, 2020 (MarketWatch)
Print

Tomi Kilgore

Stock had run up more than 1,400% in four days with no news released

Shares of Kaixin Auto Holdings Inc. plunged Tuesday, after skyrocketing 15-fold over the past four sessions, as the China-based auto-dealership company confirmed there was no news released to explain the recent volatility.

"The spike of stock price came as a surprise to people in Kaixin," the company said in an emailed statement to MarketWatch.

The stock (KXIN) dropped 43.9% on volume of 16.1 million shares in afternoon trading. The stock was halted briefly for volatility (http://nasdaqtrader.com/Trader.aspx?id=TradeHalts) three times in the first half-hour of trading on Tuesday.

The pullback comes after the stock soared 293.7% on record volume (https://www.marketwatch.com/story/kaixin-autos-stock-skyrockets-on-massive-volume-has-gained-1270-in-four-days-2020-10-19) of 235.3 million shares on Monday.

It ran up 55.6% on volume of 55.1 million shares on Friday, tumbled 32.8% on volume of 6.3 million shares on Thursday and soared 266.7% on volume of 60.6 million on Wednesday. In total, the stock has gained 1,409.3% over the past four days through Monday.

The company's last 6-K filing with the Securities and Exchange Commission (https://www.sec.gov/Archives/edgar/data/1713539/000110465920098759/tm2029483d1_ex99-1.htm) was on Aug. 26. At that time, Kaixin said it decided to halt its used-car dealership operations, meaning second-quarter revenue will be "significantly lower" than in prior periods, and that "it may not have meaningful revenue starting in the third quarter of 2020."

The stock closed at a record low of 41 cents on Sept. 8.

"There is no change in the status of Kaixin's business operations since the company filed the last 6-K on Aug. 23, 2020, and its dealership business is still in halt," the company said.

The stock has now climbed 144.4% year to date, while the iShares MSCI China exchange-traded fund (MCHI) has advanced 22.4% and the S&P 500 index has gained 7.1%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

October 20, 2020 14:53 ET (18:53 GMT)

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