Stock Alert: GreenPower Motor Hits New 52-week High

By RTTNews Staff Writer   ✉   | Published:

Shares of GreenPower Motor Company Inc. (GP), a Canada-based manufacturer of electric vehicles, are rising almost 25 percent or $5.50 in Monday's morning trade at $27.54 after touching a new 52-week high of $28.27.

U.S. stocks are rising on Monday as investors react to additional upbeat news regarding a potential coronavirus vaccine. AstraZeneca (AZN) announced that its vaccine candidate being developed in collaboration with Oxford University had an average efficacy of 70 percent.

The electric vehicle or EV sector is seeing renewed interest from investors. Ideanomics Inc. (IDEX) has increased its stake in California-based electric tractor maker Solectrac Inc. to 24 percent.

GreenPower said Thursday it has granted an aggregate of 300,000 incentive stock options with 100,000 stock options to each of Brendan Riley, Michael Sieffert and Fraser Atkinson. The stock options are subject to the approval of the TSX Venture Exchange and are exercisable for a period of five years at a price of $20 per share.

GreenPower has traded in a range of $8.22 to $28.27 in the past 52 weeks.

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