Why Nikola, Hyliion, and Romeo Power Stocks Popped Today
Companies in the electric vehicle (EV) sector are back in vogue with investors today, and several tied to the electrification of the commercial truck industry are leading the way. Shares of Nikola (NASDAQ: NKLA), Hyliion Holdings (NYSE: HYLN), and battery company Romeo Power (NYSE: RMO) were up 3.9%, 10.3%, and 9.2%, respectively, as of 3:28 p.m. ET. And the gains come as the underlying businesses are also starting to get traction.
While today's moves are in line with a more general push into EV stocks by investors, some of the confidence in these names is likely coming from recent progress with the businesses. Nikola recently made good on its promise to begin shipping its Tre battery electric truck to customers before the end of the year. And Hyliion said last month that it already has reservations from fleet owners for its combination renewable natural gas and battery-powered electric truck, the Hypertruck ERX.
Source Fool.com
