Multi-City Program Extension Sends Electric Transport Shares Higher

By: Tomas Ronolski - AllPennyStocks.com News

Wednesday, August 24, 2022

A Miami-based electric transportation company is catching quite a bit of attention during Wednesday’s premarket after the company announced that cities including San Diego, California, Memphis, Tennessee, and Newark, New Jersey, as well as Durham, North Carolina and Louisville, Kentucky, will extend their shared e-mobility programs with the company, according to the release. Bird Global Inc. (NYSE:BRDS) also announced that they “will soon return to Minneapolis, Minnesota, as well as expand to Bradenton, Florida, Knoxville, Tennessee, the University of Oregon and Eugene, Oregon, and UNC Wilmington, North Carolina, before students return to college campuses for the fall semester.”

Bird Global Inc is a micro-mobility company engaged in delivering electric transportation solutions for short distances. It partners with cities to bring lightweight, electric vehicles to residents and visitors to replace car trips by providing an alternative sustainable transportation option.

Traders appear to be rather optimistic on the news as shares of this small cap are currently bid up at $0.541/share (+25.43% implied open for sellers) at the time of writing. This move will come right after it appears this stock found support from levels established earlier this summer.

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