XOS - Why Shares of EV Maker Xos Popped Friday
The stock of relatively unknown electric vehicle (EV) maker Xos (NASDAQ: XOS) made some big gains on the last trading morning of 2021. That may seem odd, but there is a reason why Xos shares popped 12.3% early on Friday. The stock settled back some, and as of 12:25 p.m. ET, shares were trading 5.5% higher.
The move came on a typically slow trading day before the New Year's holiday, and it ironically looks to have occurred from a comment made by a widely followed tech analyst two weeks ago. Earlier this month, Wedbush Securities analyst Dan Ives said one of the ways to play EV stocks moving into 2022 is by focusing on the adoption of EVs by package delivery companies.
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Why Shares of EV Maker Xos Popped Friday