Investors can’t get enough of electric vehicle stocks these days. And the companies are obliging with more deal activity.
NIO stock has enjoyed quite a reversal of fortune lately. Investors were worried about cash earlier in 2020. Shares, however, are up about 241% since late February. A deal for fresh capital with the local government where the company operates started NIO’s stock price rally. In addition to NIO’s stock surge, shares in commercial electric van maker Workhorse —as well as alternative-fuel heavy duty trucking firms Tortoise Acquisition and Nikola —have rallied too. Workhorse shares are up 328% since late February. Tortoise and Nikola stocks are up 168% and 422%, respectively, over the same span.
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