Pioneer Power Solutions (NASDAQ:PPSI) stock is on the move Thursday as the electric vehicle (EV) charging company catches the eyes of investors.
The most recent news from the company covers the launch of mobile EV charging options. This news initially came out earlier this week and PPSI stock has been trading at higher levels since then.
Three new products were launched by Pioneer Power Solutions to accommodate EV users’ needs. That includes its E-Boost G.O.A.T. generator on a truck, E-Boost Mobile trailer0mounted option, as well as the stationary E-Boost Pod that can charge two vehicles.
Pioneer Power Solutions believes that these new options can help reduce range anxiety. This is something that EV owners have to deal with thanks to the limited charge EVs can hold. A big factor in boosting the adoption of EVs is finding ways to overcome this problem.
With the recent interest in PPSI stock comes heavy trading of the shares. As of this writing, more than 81 million units had traded hands. That’s a massive spike over the company’s daily averagr trading volume of about 5.5 million shares.
Let’s take a look at what else traders need to know about PPSI stock below!
- Pioneer Power Solutions is a designer and manufacturer of electrical equipment.
- This has it serving industrial, commercial, OEM and critical power markets in North America.
- Among its operations are “specialized forms of switchgear and controls that protect facilities against power outages and can manage the generation and distribution of electricity in concert with the power grid.”
- It’s based out of Fort Lee, N.J. and has more than 100 employees across three locations in the U.S.
- The company has been around for more than 90s but took its current form in 1995 with its acquisition of Pioneer Transformers from Schneider Electric.
- It then became a public reporting company in December 2009.
- After continuing to grow the business, Pioneer Power Solutions uplisted to the Nasdaq Exchange in September 2013.
PPSI stock was up 28% as of noon Thursday.
There’s more recent stock news to jump into below!
We’ve got all the latest stock market news that traders need for Thursday. That includes the latest concerning shares of Paysafe (NYSE:PSFE), Beyond Meat (NASDAQ:BYND), and Fossil (NASDAQ:FOSL). You can get up to speed on those matters at the following links!
More Thursday Stock Market News
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- FOSL Stock: 9 Reasons Why Fossil Investors Are Feeling Fantastic Today
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.
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