Back-To-Back Announcements Send Industrial Shares Flying

By: Dylan Sikes – AllPennyStocks.com News

Tuesday, April 18, 2023

A Canadian industrials company is seeing its shares skyrocket after the company announced that it will be releasing its Q1 financial results on May 9th, 2023. This came the session after the company announced that it officially inaugurated its new manufacturing factory that will produce lithium-ion batteries for medium and heavy-duty vehicles in Mirabel, according to yesterday’s release.

These back to back announcements have traders eager to get their hands on shares of The Lion Electric Company (TSX:LEV) (NYSE:LEV) as shares reached up to $3.45/share (+31.18%) at the session high. This move is a breath of fresh air for longterm shareholders that have been riding out the multi-month downtrend.

The Lion Electric Co. includes designing, developing, manufacturing and distributing purpose-built all-electric medium and heavy-duty urban vehicles including battery systems, chassis, bus bodies and truck cabins. The Group also distributes truck and bus parts and accessories. The Group has one reportable operating segment, the manufacturing and sales of electric vehicles in Canada and in the United States. Geographically, the majority of revenue is generated from Canada.

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