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Wed, February 8 at 8:00PM ET

WPRT Stock: 14 Things to Know About Westport Fuel Systems as Amazon Deal Ignites Shares

Westport Fuel Systems (NASDAQ:WPRT) stock is soaring higher on Monday after announcing a deal with Amazon (NASDAQ:AMZN).

Image of an Amazon sign in front of an Amazon building.
Source: Jonathan Weiss / Shutterstock.com

Here’s everything potential investors in WRPT stock need to know about the deal and the company.

  • Westport Fuel Systems is going to supply Amazon with natural gas engines.
  • These engines will be used in the e-commerce company’s delivery fleet.
  • This fleet is made up of trucks that transport goods between its warehouses and distribution centers.
  • The deal comes as Amazon progresses toward its goal of net-zero carbon emissions by 2040.
  • It’s worth noting that Amazon is looking to invest in electric and natural gas alternatives to reach this goal.
  • The company has already purchased over 700 natural gas trucks.
  • Westport Fuel Systems is a designer and manufacturer of natural gas engine parts.
  • The company currently does business in more than 70 countries and partners with major brands.
  • Its base of operations is located in Vancouver, Canada.
  • The company was founded in 1995 and joined the public market in 2008.
  • WPRT is led by CEO and Board member David Johnson.
  • Johnson has a 25-year history in the field of engine development, which includes previously working for Ford (NYSE:F) and General Motors (NYSE:GM).
  • WPRT stock is seeing heavy trading today with some 14 million shares having changed hands.
  • That’s a hefty jump from its daily average trading volume of 3.9 million shares.

WPRT stock was up 45.1% as of Monday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2021/02/wprt-stock-14-things-to-know-about-westport-fuel-systems-as-amazon-deal-ignites-shares/.

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