- Wex Inc. ( NYSE: WEX ) rose 2% after investor Impactive Capital pitched the stock at an investor conference.
- Impactive Capital head Lauren Taylor Wolfe pitched Wex ( WEX ) as a long idea earlier at the 13D Monitor Active-Passive Summit in New York City.
- Investors appear to misunderstand the impact that electric vehicles will have on Wex's ( WEX ) fleet segment, Wolfe told CNBC in an interview after she presented at the conference.
- "We contend the opposite," Wolfe said. "We think that they have an opportunity to grow revenue per vehicle by 70% and it's because they have the network effect."
- "Our view is Wex is going to thrive in an environment with electric vehicles, despite the market's contending that they might not," Wolfe said.
- Wex ( WEX ) is scheduled to release Q3 results on Oct. 27.
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Wex gains after investor pitches at 13D Monitor Active-Passive conference