Lightning eMotors (NYSE:ZEV) stock is rising higher on Thursday despite any recent news connected to the electric vehicle (EV) company.
The only thing worth noting today is the heavy trading of ZEV stock. As of this writing, more than 2 million shares of the stock have changed hands. That’s worth pointing out as the company’s daily average trading volume is closer to 668,000 shares.
So we’ve got no news and heavy trading of ZEV stock. Factor in the company’s penny stock status and it’s a perfect recipe for a pump and dump. Maybe. It could also be that positive news for other EV companies is causing ZEV stock to move in sympathy with them.
Either way, investors will want to be careful about taking a stake in ZEV stock today. It could be that shares fall in the following days as the current momentum comes to an end.
With that in mind, here are some basics that potential traders of ZEV stock need to know about the company.
- Lightning eMotors is an EV company focused on fleet medium- and heavy-duty vehicles.
- That includes “delivery trucks, shuttle buses, passenger vans, chassis-cab models, and city transit buses.”
- The company was founded in 2008 and operates out of Loveland, Colo.
- Leading ZEV is Timothy Reeser.
- He founded the company under the name Lightning Systems and has been serving as its CEO since.
- Lightning eMotors has a market capitalization of $536.405 million.
ZEV stock is up 21.1% as of Thursday afternoon.
There’s more stock market news to jump into below!
It’s been a busy day for EV stocks and we’ve got all the latest news. That includes what’s happening with Nikola (NASDAQ:NKLA), Nio (NYSE:NIO), and Kaixin Auto (NASDAQ:KXIN). You can get up to speed on all of that at the links below!
More Thursday Stock Market News
- NKLA Stock Is Heating Up as Nikola Leaves 2021’s Bad News Behind
- NIO Stock Predictions: Why This Analyst Calls Nio an ‘Attractive Buy’ for 2022
- KXIN Stock Alert: There Are 10,000 Reasons Kaixin Auto Is Revving Up 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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