HYLN - Why Hyliion XL Fleet and Property Solutions SPAC (Faraday) Stocks Are Higher Today
Shares of Hyliion (NYSE: HYLN) , XL Fleet (NYSE: XL) , and Property Solutions Acquisition (NASDAQ: PSAC) , the special-purpose acquisition company that is reportedly preparing to merge with electric-vehicle start-up Faraday , were all trading higher on Tuesday after the Biden administration announced measures to boost electric vehicle adoption in the U.S.
Here's where things stood for these three companies' stocks as of 1 p.m. EST, relative to their closing prices on Monday:
President Joe Biden said on Monday that he plans to replace the U.S. government's fleet of roughly 650,000 vehicles with zero-emissions electric models made in the United States. He also reiterated his plan to build 550,000 new electric-vehicle charging stations over the next few years.
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Why Hyliion, XL Fleet, and Property Solutions SPAC (Faraday) Stocks Are Higher Today