Lightning eMotors (NYSE:ZEV) is the newest stock catching the attention of short-squeeze traders on Tuesday. However, this is an instance of them piling into a target that recently announced positive news for investors.
Lightning eMotors announced a partnership with Collins Bus today. Collins Bus is a subsidiary of Rev Group (NYSE:REVG) and a manufacturer of Type A School Buses. That latter bit of info is what matters to today’s news.
Lightning eMotors and Collins Bus will be working together to create zero-emission, all-electric Type A school buses. The first set of these buses are already in production with school districts set to get them this fall.
Now that you know why ZEV is on the rise today, let’s take a look at what else traders need to know.
- Lightning eMotors is an electric vehicle (EV) company with a focus on medium and heavy-duty vehicles.
- Its specific specialty is developing EVs that can be used as fleets by businesses and organizations.
- This has already seen the company work on several versions of Ford’s (NYSE:F) cargo and food vans.
- Through its Lightning Energy business, the company also handles the installation and maintenance of EV chargers.
- Tim Reeser leads the company as its co-founder and CEO.
- Lightning eMotors has been around since 2008 but only went public recently with an IPO in July 2020.
ZEV stock was up 12.6% as of Tuesday morning but is still down 25.8% since the start of the year.
Investors that are hungry for more of the most recent stock market news will want to keep reading!
InvestorPlace offers up daily coverage of the stock market with our deep dives. A few bits of news worth looking into today include what to know about meme stock Corsair Gaming (NASDAQ:CRSR), Zoom Video Communications (NASDAQ:ZM) stock is taking a beating, as well as WonderFi’s plans for a stock listing.
More Tuesday Stock Market News
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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. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.