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Why Northern Genesis Acquisition (Lion Electric) Stock Is Up Today

John Rosevear, The Motley Fool
·2 min read
Why Northern Genesis Acquisition (Lion Electric) Stock Is Up Today

Shares of Northern Genesis Acquisition (NYSE: NGA) were trading higher on Wednesday, after its merger partner Lion Electric revealed in a regulatory filing that it struck a deal in June of last year to sell trucks to Amazon.com (NASDAQ: AMZN). As of 1:30 p.m. EST, Northern Genesis's stock was up 16.8% from Tuesday's closing price, and up about 34% since the end of last week. It plans to merge with Lion Electric, a small Canada-based maker of electric trucks and buses, in a deal that will effectively take Lion Electric public.

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