LEV - Why Lion Electric Was a Beast of a Stock This Week
2023-04-21 17:13:43 ET
The Lion Electric Company 's (NYSE: LEV) stock was as mighty as its namesake animal this week.
From last Friday's close, the Canadian electric bus maker's share price accelerated to a nearly 23% gain across the following five trading days, according to data compiled by S&P Global Market Intelligence . Some fresh production news from the company had investors roaring, and they were also clearly eager about an upcoming earnings release.
Lion Electric kicked off this week in style, officially inaugurating a new battery factory on Monday. This 175,000 square foot facility is located in the Quebec municipality of Mirabel. Batteries produced at Mirabel will be used to power the specialty electric vehicles (EVs) produced by the company in its two manufacturing plants, one of which also sits in Quebec (in the city of Saint-Jérôme) and one that's located in Joliet, Illinois.
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Why Lion Electric Was a Beast of a Stock This Week