Why EVgo Stock Bolted Higher Again Today

Electric vehicle (EV) stock EVgo (NASDAQ: EVGO) headed for the skies Tuesday morning, popping 25% as of 10:40 a.m. EST after rallying 32.2% right after market open.

The EV charging stock has become unstoppable. Just between yesterday and today, it's up nearly 70% as of this writing. Two deals right when President Joe Biden's $1.2 trillion infrastructure bill is about to be signed into law are sending investors in EVgo into a tizzy.

Today, EVgo announced two separate deals with General Motors (NYSE: GM) and Uber Technologies (NYSE: UBER). EVgo is among the nation's leading providers of EV charging stations and North America's first such company to run its chargers on 100% renewable energy.

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Source Fool.com