Why Nikola, Blink Charging, and Electrameccanica Stocks Jumped Today

Shares of some recently hard-hit electric vehicle (EV) companies are surging today. Recent quarterly financial releases have pushed some investors to buy stocks that have dropped precipitously in recent months. Shares of Nikola (NASDAQ: NKLA), Blink Charging (NASDAQ: BLNK), and Canadian three-wheeled EV maker Electrameccanica Vehicles (NASDAQ: SOLO) have dropped between 42% and 52% in the last three months. But today, investors were buying back in. As of 12:10 p.m. EDT on Friday, Nikola was up 2.2%, Blink Charging was up 13.9%, and Electrameccanica was 7.2% higher.

Nikola shares have moved up about 6% since it gave investors a business update last Friday. Last night, Blink Charging and Electrameccanica also provided quarterly results, and investors are showing approval.

A Blink charger. Image source: Blink Charging.

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Source Fool.com