Carm Stock- What Crypto Traders Need to Know

Carm Stock- Is It a Signal for Crypto Traders?

Carm Stock– On June 9, 2025, Envirotech Vehicles Inc. (NASDAQ: EVTV) experienced a noticeable surge in both price and trading volume, driven largely by social media momentum. The catalyst was a tweet posted on June 10 by the well-known trader account “The Stock Sniper” on Twitter. The tweet drew a direct comparison between EVTV and Carisma Therapeutics (CARM), suggesting that EVTV might follow a similar overnight rally. This bold statement quickly captured the attention of retail traders.

As of the market close on June 9, EVTV was trading at approximately $2.15 USD, marking a 4.88% increase from the previous session. It reached an intraday high of $2.25 at 2:30 PM EDT. Trading activity soared, with volume hitting over 1.2 million shares by 3:00 PM, nearly three times its average daily volume of 400,000 shares over the past month, according to Yahoo Finance.

EV Sector Momentum and Retail Speculation

This sharp move aligns with broader enthusiasm surrounding the electric vehicle (EV) sector, especially among speculative retail investors. EVTV, which focuses on electric commercial vehicle solutions, has increasingly become part of the growing green transportation narrative. As retail traders react to social media trends, stocks like EVTV often become the center of short-term speculative plays.

Although such movements are exciting, they can be highly volatile and subject to rapid reversals. As a reminder, this is not investment advice, and traders should conduct their own due diligence.

Cryptocurrency Market Reacts to EVTV Surge

Interestingly, the crypto market also showed signs of correlation with EVTV’s movement. Tokens with a focus on sustainability and energy solutions—such as Powerledger (POWR) and Energy Web Token (EWT)—saw notable upticks during the same timeframe.

• POWR, listed on Binance, rose 3.2% to $0.22 USD by 4:00 PM EDT on June 9. Trading volume increased 18% to $5.1 million in 24 hours, based on data from CoinMarketCap.
• EWT, traded on Kraken, gained 2.7% to $2.85 USD, with trading volume climbing to $1.8 million.

This pattern hints at a cross-market sentiment shift, where positive momentum in green stocks spills over into thematically linked crypto assets.

Technical Indicators Support Bullish Momentum

Technical analysis further supports the rally in EVTV and the correlated tokens.

• On June 9, EVTV’s stock broke above its 50-day moving average ($2.05) at 11:00 AM EDT. Its Relative Strength Index (RSI) reached 68 by 3:00 PM, approaching overbought levels but signaling sustained interest, according to TradingView.
• Meanwhile, POWR cleared a key resistance level at $0.21 USD around 2:00 PM EDT. This breakout was accompanied by a 20% increase in on-chain transactions, tracked via Etherscan.
• EWT showed a bullish MACD crossover on the 4-hour chart at 1:00 PM EDT on Kraken, confirming upward momentum with growing buyer interest.

Institutional Activity and Broader Market Sentiment

Beyond retail participation, institutional investors may be contributing to the trend. Recent data from Bloomberg Terminal revealed that hedge funds have been increasing exposure to EV-related equities. This movement may indirectly benefit green energy tokens in the crypto space, which align with broader ESG (Environmental, Social, Governance) investment themes.

Adding to this narrative, CoinDesk reported a 7% week-over-week increase in crypto ETF inflows as of June 9, suggesting a gradual rotation of institutional capital from equities to digital assets.

Bitcoin Holds Steady, Supporting Altcoin Optimism

The broader crypto market showed signs of strength. Bitcoin (BTC), the benchmark digital asset, was trading at $69,500 USD on Coinbase at 4:00 PM EDT—up 1.5% for the day. BTC’s stability provided a favorable backdrop for altcoins like POWR and EWT to gain traction.

Risk of Reversal and Volatility Remain High

While these developments offer trading opportunities, it’s important to stay cautious. Retail-driven rallies like the one in EVTV can reverse sharply, especially if early gains prompt profit-taking. A downturn in EVTV could dampen enthusiasm in correlated crypto assets as well.

Monitoring social media sentiment, order book depth, and after-hours stock performance will be crucial for traders looking to engage with both EVTV and energy-related tokens.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.