Why Lion Electric Stock Leaped 7% Today

why lion electric stock leaped 7 today

Sumary of Why Lion Electric Stock Leaped 7% Today:

  • What happened Shares of Canadian electric bus manufacturer Lion Electric (NYSE:LEV), which recently went public through a special purpose acquisition company, roared 7% higher through Tuesday’s close.
  • After the close of trading on Monday, investment bank CIBC initiated coverage of Lion Electric with an outperformer rating and a $20 price target that implies the stock could nearly double over the next year.
  • com reported, CIBC thinks that Lion Electric has a first-mover advantage in electric buses, and is “well positioned to quickly ramp up to meet growing demand.
  • ” And while not everyone might agree with the idea that Lion is the first mover in electric buses, CIBC still thinks the stock is a good place to look for investors wanting exposure to EVs.

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