Why EVgo, ChargePoint, and QuantumScape Moved Higher Today
Charging infrastructure company EVgo (NASDAQ: EVGO) sparked a rally in several electric vehicle (EV) sector names Thursday morning after it blew away fourth-quarter expectations. EVgo shares shot up 30% before paring some of those gains. Fellow charging network company ChargePoint Holdings (NYSE: CHPT) and EV battery technology company QuantumScape (NYSE: QS) also rose by as much as 5% and 3.5%, respectively, at the day's highs.