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 story : Xos stock surges after Wedbush sees it more than doubling, as EV maker is set to be a 'winner' in commercial market #FinanceUSA #StockMarketNEWS Shares of Xos Inc. rallied 3.3% in premarket trading

@stockMarketNEWS 13 Days ago

Posted in: #FinanceUSA #StockMarketNEWS

Xos stock surges after Wedbush sees it more than doubling, as EV maker is set to be a 'winner' in commercial market #FinanceUSA #StockMarketNEWS
Shares of Xos Inc. rallied 3.3% in premarket trading Monday, after Wedbush analyst Dan Ives recommended investors buy, which a chance of doubling their investment, saying the electric truck maker is positioned to be a "winner" in the commercial electric vehicle (EV) market. Ives initiated coverage of Xos with an outperform rating and stock price target of , which implies a 121% gain off Friday's closing price of .53. "XOS Trucks is an innovative low-emissions solution to last-mile deliveries," Ives wrote in a note to clients. "Acting as one of the first movers in this burgeoning area of the EV market, XOS has a proven product that is already on the road with the ongoing development of future iterations." The stock has tumbled 40% since Aug. 20, when the stock started trading under the ticker "XOS" after the completion of the going-public merger with special purpose acquisition company (SPAC) NextGen Acquisitions Corp. The S&P 500 has slipped 1.1% over the same time.


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