Why Volta Shares Jumped Again Today
Sometimes stocks take a breather the day after getting a pop. Shares of electric vehicle (EV) charging network company Volta (NYSE: VLTA) soared almost 20% yesterday on no company-specific news, as the sector got a tailwind from the passage of a federal infrastructure bill. But Volta isn't giving those gains back today, and in fact, it jumped more than 13% in early trading Tuesday. As of 11:50 a.m. EST, Volta shares are still up 4.1% on the day.
Virtually the entire EV sector soared yesterday in reaction to the vote Friday night in the House of Representatives that finally passed a bipartisan infrastructure bill that has been at the center of much political wrangling. That bill includes $7.5 billion specifically allocated to build out charging infrastructure to promote electric vehicle ownership.
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Source Fool.com
