The electrification trade is in full swing. Investors in EV charging stocks appear to be buying into momentum today, as these stocks surge higher.
Today, it appears a range of catalysts are taking hold for each individual company. Let’s take a look at the big movers in this space today.
EV Charging Stocks On the Move, for Different Reasons
Ahead of the company’s earnings report on March 25, Blink Charging (NASDAQ:BLNK) has climbed more than 8% today. Investors in BLNK stock appear to be bullish on a recent CNBC interview with the company’s CEO and founder Michael Farkas. Earnings reports are always a high-volatility event. With this in mind, investors seem to be confident the company will have something decent to report this week.
Increased attention appears to be going to all EV charging stocks today as Amazon-backed Rivian announced plans for a pretty impressive EV charging network.
As one of the largest players in the EV charging space, shares of ChargePoint (NYSE:CHPT) are also up big today. Investors in CHPT stock have seen a gain of 6% on this positive momentum.
SPACs Showing Positive Momentum Today
Newborn Acquisition (NASDAQ:NBAC) is 2% higher today on news the SPAC has a merger date. That date? Tomorrow.
NBAC stock has already announced its target is Nuvve, a global leader in vehicle-to-grid (V2G) technology. The company offers a range of high-powered charging and grid services optimizing renewable energy and unused energy sources. Indeed, given the amount of attention that’s gone to EV adoption and renewable energy, NBAC stock appears to be in high demand today.
Tomorrow, the combined entity will begin trading under the NVVE ticker on the Nasdaq.
TPG Pace Beneficial Finance (NYSE:TPGY) is another SPAC looking to bring EVBox public via reverse merger. This SPAC is up 3% today on the bullish sentiment seen in EV charging stocks.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.
