Not much is happening in the stock market today as the Nasdaq fell yesterday and today is in recovery mode. The same is the case with the price of gold and our top mining stock pick. However, shares of GreenPower Motor Company Inc. (OTCMKTS: GPVRF) are rallying following its filing with the SEC yesterday to raise money and go public on the Nasdaq stock exchange. That can drive a lot of traders into the stock, including those that trade stocks like Tesla (NASDAQ: TSLA) and Nikola (NASDAQ: NKLA) with the Robinhood app where such stocks are extremely popular. Check out the chart.
Shares of GreenPower Motor Company also trade on the TSX Venture exchange under the symbol GPV. The company intends to raise up to $35 million dollars as part of the process of listing on to the Nasdaq. The company was founded in 2007 and generated $14 million in revenue for the 12 months ending this past March so it is a small company in the big scheme of things. What it does is build electric buses and in 2017 the city of Porterville made an agreement to ten of them. Electric vehicles fascinate people and traders buying the stock hope it will become the next fad play once it gets on to the Nasdaq.
You can see some of the excitement on twitter.
I do not own a position in this stock and neither does Mike Swanson who is the head editor of this website. His top stock pick for this month is still doing well. He sends out an email every morning with the top news stories he is following and trading ideas. You can get it for free just click here to subscribe.