Why Is Nxu (NXU) stock Stock Up 54% Today?


  • Nxu (NXU) stock is rising higher on a new milestone!
  • The company successfully charged a Tesla (TSLA) Cybertruck.
  • This shows its universal charging system is compatible with the EV.
NXU Stock - Why Is Nxu (NXU) stock Stock Up 54% Today?

Source: shutterstock.com/Mike Mareen

Nxu (NASDAQ:NXU) stock is taking off on Friday as investors celebrate news of the electric vehicle (EV) charging company reaching a new milestone.

The big news here is Nxu successfully charging its first Tesla (NASDAQ:TSLA) Cybertruck. The company notes this is likely the first instance of a Tesla Cybertruck being charged on a North American Charging Standard (NCAS) EV charger.

Nxu notes that compatibility with the Tesla Cybertruck shows the potential of its NxuOne Charging System. This is the company’s universal, dual-technology EV charging solution.

All of this is worth mentioning as the only public option that’s been available to Tesla Cybertruck owners so far is the company’s Tesla Superchargers. With this news, Cybertruck owners gain access to a larger pool of charging options.

What This Means for NXU Stock

With today’s Cybertruck charging news comes heavy trading for NXY stock as investors celebrate. That has more than 13 million shares of the stock changing hands as of this writing. This is well above Nxu’s daily average trading volume of about 1.5 million shares.

NXU stock is up 53.9% as of Friday morning but was down 61.2% year-to-date when markets closed yesterday.

Investors seeking out even more of the most recent stock market news are in the right place!

InvestorPlace is home to all of the hottest stock market news that traders need to know about on Friday! That includes the biggest pre-market stock movers this morning, what’s going on with shares of Marathon Digital (NASDAQ:MARA) stock and more. You can catch up on all of these matters at the links below!

More Friday Stock Market News

On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. 

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

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/2024/03/why-is-nxu-nxu-stock-stock-up-54-today/.

©2024 InvestorPlace Media, LLC