“As Tesla surges 600% off its 2020 low, meet the next electric car newcomer going public”
September 3, 2020
“Electric vehicle companies are enjoying an incredible moment in 2020, spearheaded by Tesla (TSLA), which saw shares surge 600% from their March lows, and Chinese rival Nio (NIO), also enjoying a similar 700% pop.
Investors also battled over shares in electric truck maker Nikola (NKLA) earlier this year, which debuted via a special purpose acquisition company (or SPAC) in June as shares spiked about 110% in the week following its debut.
Now, yet another Tesla rival is looking to make its public debut — this time in the form of Austin, Texas-based electric trucking company Hyliion. The company announced in June it would be following Nikola’s lead by going public via a reverse merger with Tortoise Acquisition Corp…”