US30052F1003 - Common Stock
The electric vehicle charging stock could skyrocket if this happens.
Let’s dig into the relative performance of SolarEdge (NASDAQ:SEDG) and its peers as we unravel the now-completed Q3 renewable energy earnings season.
The US market is yet to commence its session on Tuesday, but let's get a preview of the pre-market session and explore the top gainers and losers driving the early market movements.
Electric vehicle charging company EVgo (NASDAQ:EVGO) reported Q3 CY2024 results beating Wall Street’s revenue expectations, with sales up 92.4% year on year to $67.54 million. The company expects the full year’s revenue to be around $257.5 million, close to analysts’ estimates. Its GAAP loss of $0.11 per share was also 4.3% above analysts’ consensus estimates.
Could the stock for this out-of-favor EV charging company bounce back in the future?
A new presidential administration could bring headaches for renewable energy.
Electric vehicle sales are slowing down as supply chain shortages ease in the auto industry.
Two news items has EVgo stock soaring today.
Shares of EVgo Inc. jumped as much as 37% in pre-market trading after the electric vehicle charging company received a loan guarantee of up to $1.05 billion from the US Department of Energy.