This EV Stock Is Lifting Its Entire Nation's Stock Market
Investors in the U.S. have been increasingly excited about the prospects for the stock market. With recent moves, the S 500 has climbed more than 20% from its October 2022 low, leading some to proclaim that the bear market is over. Indeed, the S looked poised to keep climbing Wednesday morning, even as investors await the latest decision on interest rates from the Federal Reserve.
Yet what's happening in the U.S. pales in comparison to recent moves in the Japanese stock market. The Nikkei 225 hit highs not seen since 1990, after a bear market that arguably lasted for decades. And interestingly, one key driver of recent gains has been an electric vehicle (EV) stock that has until now been a relative laggard in the industry: Toyota Motor (NYSE: TM). With new technological advances, however, Toyota might just have made a giant leap forward in its EV efforts -- and shareholders are happy with its prospects.
Shares of Toyota soared 6% on Tuesday, and they were up again in the premarket session on Wednesday morning, rising 5% further. The move came after announcements on new EV technology raised hope that the Japanese automaker wouldn't get left behind in the electrification transition.
Source Fool.com
