EV stocks are on the rise Wednesday as investors continue to place their hopes in the market following President Joe Biden taking office.
When President Biden was announced the winner of the 2020 Presidential Election, EV stocks got a boost from the news. That positive momentum has been continuing over the last few months as the Administration focuses on green energy plans.
EV Stocks on the Move Today
- Canoo (NASDAQ:GOEV) stock starts off the surge today with shares heading 7.2% higher as more than 8 million units change hands. For comparison, the company’s daily average trading volume is 6.5 million shares. There’s no direct news from the company behind the positive movement today. Instead, it’s likely climbing higher alongside other EV stocks.
- Hyliion (NYSE:HYLN) stock is up next with shares climbing 3% higher and more than 13 million changing hands. That’s quite the jump from its daily average trading volume of 7.2 million shares. The positive news sending this EV stock higher is the creation of a Hypertruck Innovation Council. This will support the development of the company’s Hypertruck powertrain solution.
- XL Fleet (NYSE:XL) finishes off the EV stocks news today with shares heading 10.2% higher. That comes as 86 million shares traded compared to its daily average of roughly 9 million shares. The increase in the stock comes alongside news of a deal with Apex Clean Energy. This will have XL electrifying the company’s fleet of vehicles.
Investors that are hungry for more EV stocks news today are in luck.
The EV industry is remaining incredibly popular with investors that are looking to profit off of the current Administration’s plans. That’s resulted in several companies seeing their shares take off lately. This includes the likes of Tesla (NASDAQ:TSLA), Volkswagen (OTCMKTS:VWAGY), Nio (NYSE:NIO), and others. Investors looking to catch up on the latest EV news can check out the following content from InvestorPlace.com below.
More EV Stocks News
- Goldman Sachs EV Stocks: Analysts Recommend Fueling Up With These 6 Stocks
- Best Stocks for 2021: Still Charging Up, Don’t Count NIO out Just Yet
- Best Electric Vehicle Stocks in 2021
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.