Why EVgo Stock Soared Thursday
Electric vehicle (EV) charging company EVgo (NASDAQ: EVGO) surprised investors with its second-quarter report last night, and the stock is soaring as a result. Shares spiked as much as 40% Thursday morning before settling to a gain of 22.1% as of 12:25 p.m. ET.
The stock soared after the company reported a loss of $0.08 per share in the second quarter from revenue of $50.6 million. Wall Street was expecting a loss of $0.26 from sales of just $29.5 million. That sales figure represented growth of 457% compared to last year's second quarter.
The investor reaction brought EVgo's stock return into the green for the year.
Source Fool.com
