Why Shares of Fisker, Nikola, and Kandi Technologies Are Higher Today
Shares of several names in electric vehicles (EVs) are rising today. The stocks of aspiring electric SUV maker Fisker (NYSE: FSR) and Chinese EV maker Kandi Technologies (NASDAQ: KNDI) were up 20% at their highs. And as of 1:40 p.m. EST on Friday, Fisker was up 14%, Kandi was up 7%, and EV semi-truck maker Nikola (NASDAQ: NKLA) was higher by 5%.
While Kandi had some company-specific news, much of the activity is more likely about the growing EV market in general.
It wasn't long ago that Tesla was the only major publicly traded EV automotive stock. But that has changed, and recent data from China on the sector has U.S. investors getting excited about several newcomers.
Source Fool.com
