HYZN - Why Nikola Lordstown and Hyzon Motors Jumped Today
Now that the final version of the Inflation Reduction Act (IRA) has been signed into law, investors have had some time to determine what companies might be the beneficiaries and which might lose out. Today, gains in shares of Nikola (NASDAQ: NKLA) , Lordstown (NASDAQ: RIDE) , and Hyzon Motors (NASDAQ: HYZN) show these companies could benefit from the legislation. As of 11:45 a.m. ET, Nikola and Hyzon shares are 3.2% and 13.1% higher, respectively. At the same time, Lordstown stock is 0.5% higher after an earlier gain of nearly 7%.
The surge in these shares this morning comes after a report from Barron's noting that companies working to promote hydrogen fuel for transportation have been under-recognized as beneficiaries of the clean energy portion of the IRA. Nikola and Hyzon could be in the sweet spot to exploit those investments.
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Why Nikola, Lordstown, and Hyzon Motors Jumped Today