Why These EV Stocks Were Mixed Today

Shares of electric-vehicle (EV) companies going public through special purpose acquisition company (SPAC) mergers are starting the new year where they left off in 2020. Three that are moving sharply today are Northern Genesis Acquisition (NYSE: NGA), Switchback Energy Acquisition (NYSE: SBE), and XL Fleet (NYSE: XL). As of 11:15 a.m. EST Monday, shares moved as follows:

XL Fleet recently completed its merger, and shares spiked after the transaction closed on Dec. 22. Switchback Energy has plans to merge with leading EV charging infrastructure company ChargePoint in the near future. And Northern Genesis is getting closer to finalizing its merger with Canadian EV truck and bus maker Lion Electric.

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Source Fool.com