Why Volta Stock Charged Up Friday

Shares of electric vehicle charging network company Volta (NYSE: VLTA) got charged up with a double-digit gain on Friday. The shares closed the last trading day of the week with a gain of 10%, after the company crossed a milestone, and political winds seemed to be blowing in its favor.

In the macro picture, politicians in Washington have been working on an agreement for President Joe Biden's Build Back Better spending plan. That potential legislation is in addition to the bipartisan infrastructure bill that has already been passed by the Senate and is awaiting a vote in the House of Representatives. Both plans include funds that could benefit Volta in a big way. In addition, the company announced yesterday that it crossed the 100 million EV mile mark for its charging stations.

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