Why EHang Holdings Stock Popped 14% Today

Shares of EHang Holdings (NASDAQ: EH), a maker of flying electric vehicles (aka "air taxis"), are taking off on Monday, the first trading day after EHang released some optimistic news. As of 11:05 a.m. EST, EHang stock is up 13.9%.

Why? As the closing bell struck on trading Friday, EHang announced that "leading European asset management firm" Carmignac has invested $40 million in the company through a private placement of shares.  

On the one hand, EHang says it "intends to use the proceeds to further strengthen the technology advancement and ... to reinforce its leading position in the global urban air mobility (UAM) industry."

Continue reading

Source Fool.com