Why Westport Fuel Systems Inc's Shares Popped 16% Today
Shares of natural gas engine technology company Westport Fuel Systems Inc (NASDAQ: WPRT) jumped as much as 15.7% in trading Friday after the company announced a new loan and business agreement. At 11:10 a.m. EST, shares were still up 14% for the day.
The biggest announcement was a $20 million secured term loan agreement with Export Development Canada. The loan will carry an interest rate of 9% plus fees, which is extremely high in today's low-interest-rate environment, but the rate could fall to 6% if the company meets certain undisclosed milestones.
Image source: Getty Images.
Source: Fool.com
Westport Innovations Inc. Aktie
0,66 €
2,64 %
Die Westport Innovations Inc. Aktie ist etwas beliebter: Mehr Buy- (4) als Sell-Einschätzungen (1).
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