TECH - Forget Tesla And Rivian: America's Iconic School Bus Maker Smokes EV Auto Giants With 117% Stock Surge | Benzinga
Electric vehicle stocks are not exactly having a great year, but one company that makes low-emission school buses has left auto sector heavyweights in the dust by more than doubling its valuation.
What Happened: Shares of Blue Bird Corp (NASDAQ:BLBD), which makes the iconic yellow American school buses used by generations of students since 1927, have skyrocketed nearly 117% this year, reaching a market capitalization of $1.85 billion, according to data from Benzinga Pro.
This growth comes as the company capitalizes on the Biden administration’s Clean School Bus Program, venturing into the electric bus segment.
BLBD Vs. Big Players: Though dwarfed by car giants in terms of valuation, Blue Bird’s gains are impressive. Tesla, Inc. (NASDAQ:TSLA), the only profitable EV maker among its peers, is down 28% this year due to thinning margins and slowing demand. Other EV startups like Rivian Automotive, Inc. (NASDAQ:RIVN) and ...