GreenPower Motor Co (NASDAQ:GP) is leading electric vehicle (EV) news on Monday as shares of GP stock head higher despite a lack of news.
The jump in price for GP stock comes alongside a massive increase in trading. GreenPower Motor Co has seen more than 4.1 million shares change hands today. For comparison, its daily average trading volume is around 599,000 shares.
So what exactly do potential GP stock investors need to know about the company?
- Starting off, the most recent EV news came on Friday and it concerned bus sales.
- The company sold six of its Battery Electric Automotive School Transportation (B.E.AS.T.) school buses to a school district in California.
- It’s possible that this is behind some of the positive movement for GP stock today.
- Another reason that the stock could be up today has to do with the U.S. presidential elections.
- Joe Biden is the projected winner and he’s expected to make a push for green energy with his presidency.
- That’s been a boon to many green stocks of late and has pushed their shares higher.
- That would also be good news for GreenPower Motor Co with its product line of EVs.
- Among these are electric van, electric school bus, and electric buses.
- GreenPower Motor Co was founded in 2010 and released its first EV in 2014.
- The company’s headquarters is located in Vancouver, Canada.
GP stock was up 24.5% as of noon Monday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.