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Why Is Bird Global (BRDS) Stock Up 17% Today?

  • Bird Global (BRDS) is adding more cities to its operations, boosting BRDS stock.
  • That includes joining e-mobility programs and preparing for the fall college semester.
  • Bird will offer its electric bikes and scooters to more customers as a result.
Bird Electric Ride Sharing Scooters Lined Up and Ready to Rent representing BRDS stock.

Source: Arne Beruldsen / Shutterstock.com

Bird Global (NYSE:BRDS) stock is flying higher on Wednesday after announcing an expansion to a number of the cities it already operates in.

The big news from the company is that several cities are expanding their e-mobility programs with Bird Global. As a result, Bird will start offering its electric bike and scooter rental services to citizens living in those locations.

First up, the company already has approval to expand into several cities. They are as follows:

  • San Diego, California
  • Memphis, Tennessee
  • Newark, New Jersey
  • Durham, North Carolina
  • Louisville, Kentucky

Bird Global also says its services are coming to several other cities before the college fall season starts. That list includes the following locations:

  • Bradenton, Florida
  • Knoxville, Tennessee
  • Eugene, Oregon and the University of Oregon
  • Wilmington, North Carolina and UNC Wilmington

Finally, Bird Global notes that its services are returning to Minneapolis, Minnesota in the near future as well. These additions add to the 450-plus communities around the world that the e-bike company serves.

Brian Buccella, Senior Vice President of Global Policy at Bird Global, said the following in the news release:

“Bird is honored to be the trusted micromobility partner to more than 130 universities nationwide […] We are committed to delivering shared e-mobility programs that address last-mile needs for students, residents and visitors alike.”

This expansion news brings heavy trading to BRDS stock today. That has some 11 million shares on the move already. The company’s daily average trading volume is about 3.2 million shares.

BRDS stock is up 17% as of Wednesday morning.

There’s more recent stock market news traders will want to know about below!

InvestorPlace is home to all of the hottest stock market coverage for Wednesday. A few examples include why shares of SoFi (NASDAQ:SOFI), Peloton (NASDAQ:PTON) and Sunrun (NASDAQ:RUN) are moving today. You can read all about that at the following links!

More Wednesday Stock Market News

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Read More:Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, William White did not hold (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/2022/08/why-is-bird-global-brds-stock-up-17-today/.

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