Shares of electric truck and powertrain company Xos (NASDAQ: XOS) were powering higher Tuesday morning after the company reported its fourth-quarter and full-year 2021 results following the closing bell yesterday. After spiking as much as 12%, Xos shares pared those gains but remained up 4.4% as of 10:32 a.m. ET today.
Xos shares have soared almost 50% over the past month as the company has delivered its electric commercial trucks to new customers; the company plans a May event where it says it will reveal new products.
But for today, the stock gains come after Xos reported fourth-quarter revenue that more than doubled the income it received in the first nine months of 2021. The company delivered 32 of its vehicles in the fourth quarter, bringing unit shipments to 44 for the full year.
Source Fool.com