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EV Stocks: Why LEV, HYLN, LI, NKLA and EVGO Are Driving Higher Today

Electric vehicle (EV) stocks are charging higher on Thursday and we’re diving into the most recent news behind that movement.

LI stock electric vehicle EV stocks electric vehicles at a recharging station

Source: Sopotnicki / Shutterstock.com

News from Tesla (NASDAQ:TSLA) today appears to be behind the major movement for EV stocks. The company reached an annual run rate of 1 million EVs a year during its most recent quarter. That’s a major milestone for the company and has TSLA stock rising 3.7% as of this morning.

So what’s that have to do with other EV stocks? It likely that other players in the space are moving higher alongside shares of TSLA stock. However, some also have their own news giving them a boost today.

Let’s jump into the EV stock news for today below!

EV Stocks on the Move

  • Lion Electric (NYSE:LEV) starts us off with shares climbing more than 3% higher this morning. That comes despite a lack of specific news for the company.
  • Hyliion Holdings (NYSE:HYLN) shares are up next with shares sitting over 3% higher as of this writing. Yet again, there’s no company-specific news behind this movement.
  • Li Auto (NASDAQ:LI) stock is getting a more than 2% boost Thursday morning. No news from the company explains its movement today.
  • Nikola (NASDAQ:NKLA) shares join the list of rising EV stocks as they jump over 1% higher. Recent news includes a judge allowing it to move forward with a lawsuit against Tesla.
  • Evgo (NASDAQ:EVGO) stock closes out our list today with shares heading nearly 2% higher. The company announced a partnership that will increase the accessibility of fleets nationwide.

Investors looking for more stock market news today are in luck!

InvestorPlace has all the latest stock market coverage that traders need to know about for Thursday! Among that is this morning’s pre-market stock movers, as well as the latest concerning Stronghold (NASDAQ:SDIG) and ContextLogic (NASDAQ:WISH). You can learn all about that at the following links!

More Stock Market News for Thursday

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.

Article printed from InvestorPlace Media, https://investorplace.com/2021/10/ev-stocks-why-lev-hyln-li-nkla-and-evgo-are-driving-higher-today/.

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