EV charging stocks are on the rise Monday as investors continue to boost up markets connected to the electric vehicle industry.
This saw shares for many EV companies head higher this morning as investors continue to believe in the future of the market. It’s worth noting that stocks connected to the EV industry have been seen steady increases sever since President Joe Biden won the election against former President Donald Trump in 2020.
EV charging stocks have even more news to be happy about of late. A new infrastructure plan from President Biden was revealed last week. In it, he lays out details for pushing the U.S. away from gas vehicles and toward EVs. Part of that includes building a national network of 500,000 EV chargers by 2030.
With such a major plan in the works, it’s no surprise that EV charging stocks are increasing. Let’s take a look at how a couple of those stocks are moving below.
- ChargePoint (NYSE:CHPT) is 5.3% this morning as nearly 6 million shares have changed hands as of this writing. Its daily average trading volume is about 4.5 million shares.
- Blink Charging (NASDAQ:BLNK) stock is sitting 2.9% higher on Monday as more than 1 million shares traded. The company’s daily average trading volume is closer to 8.9 million shares.
Pasquale Romano, the president and CEO, also has this to say about Biden’s plan.
“ChargePoint appreciates the Administration’s commitment to support the electrification of the transportation sector and is ready to help make this vision a reality. We encourage Congress to pass legislation that supports the proposed plan and includes rebates to businesses that will accelerate the installation of charging infrastructure for multifamily homes and workplaces.”
There’s still plenty more EV news than just this for investors to dive into this morning.
Other recent news includes EV stocks heading higher today. Much of that had to do with EV deliveries for the first quarter of 2021 being reported. That includes companies such as Tesla (NASDAQ:TSLA), Nio (NYSE:NIO), XPeng (NYSE:XPEV), and others. Investors can catch up on this news below.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.