HYLN - Why Hyliion Holdings Stock Accelerated 15% Higher Today
2023-05-02 18:36:54 ET
Low-priced alt-fuel vehicle maker Hyliion Holdings (NYSE: HYLN) experienced a nearly 15% lift in its share price on the second trading day of the week. Investors were happy about the company's latest product announcement, which was encouraging by any standard.
Publicly traded automotive companies often see a share price boost when they unveil a new model, and so it was on Tuesday for Hyliion. At the Advanced Clean Transportation Expo industry trade show in California, it drew the curtain back on the Hypertruck Karno.
This is a demonstration vehicle, a semi-truck whose chief selling point is that it features, in its maker's words, "a first-of-its-kind electric range extender powertrain that can be refueled with both hydrogen and natural gas."
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Why Hyliion Holdings Stock Accelerated 15% Higher Today