This work is a continuation of the studies of the ultrafast variability of line profiles in the spectra of early-type stars. Line profile variations (LPVs) in the spectrum a chemically peculiar A0Vp star $alpha^2,$CVn are investigated using the January 6, 2020 observations carried out with the 6-meter BTA telescope at Special Astrophysical observatory (SAO) of the Russian Academy of Sciences (RAS) equipped with the MSS spectrograph. Regular short-term periodic variations of the H$_beta$, Fe,II, and Cr,II lines were detected with periods ranging from $sim!$4 to $sim!$140 minutes. The magnetic field of the star was determined for all observations. The average measured longitudinal magnetic field component over the entire duration of observations is about $approx$600,G, which is close to the value expected from the well-known magnetic field phase curve.