Why Northern Genesis Acquisition Stock Is Higher Today
Shares of Northern Genesis Acquisition (NYSE: NGA) were trading higher on Monday morning. Northern Genesis is a special-purpose acquisition company (SPAC) that is preparing to merge with Canadian electric-vehicle maker Lion Electric, which announced on Monday that it will build a battery factory in Quebec.
As of 11 a.m. EDT today, Northern Genesis's shares were up about 15.7% from Friday's closing price.
Lion Electric is a maker of battery-electric trucks and buses. The company is probably best known for its electric school buses, which are being evaluated by a number of school districts in the U.S. and Canada.
Source Fool.com
