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Why Toyota Motor Stock Jumped This Week

TheMotleyFool

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Why Toyota Motor Stock Jumped This Week: https://g.foolcdn.com/editorial/images/764803/auto-factory-cars-robot-welding-assembly-line-industry-industrial.jpg

Shares of Toyota Motor (NYSE: TM) were gaining this week after the automaker reported strong third-quarter results, showing that its strategy of investing in hybrid vehicles instead of electric vehicles (EVs) is paying off.

The news came as investor sentiment in the auto sector continued to shift from EVs toward legacy automakers. As a result, Toyota finished the week up 10.8%, according to data from S&P Global Market Intelligence.

Image source: Getty Images.

Source Fool.com