Nuvve Holding Corp. (NASDAQ: NVVE), a small-cap company focused on vehicle-to-grid (V2G) technology, exploded higher on Friday, catching fire with retail traders after months of near silence. The stock surged to $2.93, marking a massive 164% gain intraday and snapping a year-long downtrend in a single session.
The volume was just as dramatic. Over 142 million shares changed hands during the morning session alone, a staggering jump from its daily average. Until now, NVVE had spent most of 2025 stuck below the $1 mark with barely any price action to speak of. That changed quickly and visibly.
Nuvve Launches Crypto Subsidiary to Expand into Digital Assets
On April 28, 2025, Nuvve announced the launch of a wholly owned subsidiary, Nuvve-Crypto, as part of a strategic expansion into the blockchain space. The new arm will focus on building a digital treasury, exploring Bitcoin holdings, and leveraging decentralised finance tools to diversify the company’s long-term portfolio.
Bitcoin trades above $103,000, and sentiment around digital finance accelerates. Companies tying into crypto themes often see short-term momentum spikes in this environment as traders hunt for crossover catalysts.
Nuvve Technical Setup: Overbought but Still Running
- Current price: $2.93
- RSI: 85.18 well into overbought territory
- MACD: Strong bullish crossover, rising sharply
- Next resistance zones: $3.60, $5.00
- Key supports: $2.20, $1.50
The RSI reading is the highest it’s been in over a year, pointing to potential exhaustion ahead. But traders aren’t backing off yet. MACD is still accelerating, and price action shows no signs of fading.
What’s Fueling the NVVE Rally?
There’s been no formal company update, no fresh filings, and no major news on the tape. Most of the chatter appears to centre around a possible short squeeze, with small-cap EV stocks seeing renewed attention following a broader move in clean tech.
For now, momentum is doing all the heavy lifting. NVVE has broken out of its long-term base, and traders are watching to see if it holds above $2.50 into the close. If it does, this could turn into more than just a one-day wonder.