Why Electric Vehicle Stocks Are Up Today

Wall Street's unbridled love of electric vehicle stocks has waned, with investors getting a lot more choosy of late. Monday, however, was back to risk-on when it comes to the sector, with a handful of start-ups trading up big without any company-specific reasons.

Shares of Workhorse Group (NASDAQ: WKHS) and ChargePoint Holdings (NYSE: CHPT) were both up more than 10% as of 3 p.m. EDT, with shares of Churchill Capital Corp. IV (NYSE: CCIV) up 7% and Nikola (NASDAQ: NKLA) up more than 5%.

These companies have different focuses, but they all revolve around the electrification of the automotive industry. Workhorse and Nikola are developing electric-powered trucks and ChargePoint is rolling out a network of charging stations. Churchill Capital, meanwhile, is a special purpose acquisition company (SPAC) preparing to merge with electric car maker Lucid Motors.

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Source Fool.com