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Sept. 28, 2022, 7:22 a.m. EDT

Harley spinoff LiveWire’s stock swings to a sharp loss in NYSE debut

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By Tomi Kilgore

The new shares of LiveWire Group Inc. charged higher, then reversed course to close sharply lower Tuesday, as the electric-motorcycle company debuted 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. LiveWire had been a subsidiary of Harley-Davidson Inc. /zigman2/quotes/207565294/composite HOG +0.05% , 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 /zigman2/quotes/222659872/composite LVWR +1.01% , now traded under the ticker symbol “LVWR,” soared out of the gate, to be up as much as 23.9% at the intraday high, then pulled a sharp U-turn to close down 12.1%.

The company boasts 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 slipped 0.1% on Tuesday, and has dropped 10.9% amid a six-day losing streak. Still, it has climbed 15.6% over the past three months, while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.17% has lost 4.6%.

/zigman2/quotes/207565294/composite
US : U.S.: NYSE
$ 46.49
+0.02 +0.05%
Volume: 387,716
Dec. 7, 2022 2:14p
P/E Ratio
9.64
Dividend Yield
1.36%
Market Cap
$6.79 billion
Rev. per Employee
$970,566
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/zigman2/quotes/222659872/composite
US : U.S.: NYSE
$ 5.98
+0.06 +1.01%
Volume: 5,582
Dec. 7, 2022 1:44p
P/E Ratio
15.30
Dividend Yield
N/A
Market Cap
$1.20 billion
Rev. per Employee
N/A
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/zigman2/quotes/210599714/realtime
US : S&P US
3,934.68
-6.58 -0.17%
Volume: 0.00
Dec. 7, 2022 2:14p
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