Nxu Inc. shares soared over 46% after the company successfully charged a Tesla Cybertruck using its NxuOne Charging System.
Nxu Inc. (NASDAQ: NXU) made waves in the electric vehicle industry on February 26th by successfully charging a Tesla Cybertruck using its proprietary NxuOne Charging System. The landmark demonstration highlights NxuOne as the first publicly available dual-technology charging solution compatible with the highly anticipated Cybertruck. As a result, shares of Nxu Inc. soared over 46% during trading as investors responded to the company’s major step toward universal EV charging interoperability.
NXU Charges a Tesla Cybertruck with its NxuOne Charging System
In a breakthrough charging demonstration on February 26, 2024, Nxu Inc., a U.S.-based technology company specializing in EV charging and energy storage solutions, successfully charged a Tesla Cybertruck using its NxuOne Charging System. This was the first time a non-Tesla DC fast charging station powered a charging session for the recently released Cybertruck.
The event highlighted the NxuOneTM as the only currently available universal dual-technology solution for public charging, proving its compatibility with the Cybertruck. Until now, Tesla Superchargers were the sole public charging option for Cybertruck owners. Using third-party chargers like the NxuOneTM system represents a significant step forward for NACS (North American Charging Standard) interoperability and charging accessibility for drivers of the electric pickup truck.
According to Nxu Inc., this achievement underscores their commitment to advancing EV charging technology and providing efficient, reliable, and innovative charging solutions for all EV owners. As a domestic technology company focused on e-mobility and energy storage, Nxu aims to drive the future of energy through its intellectual property and innovations. While projections contain risks and uncertainties, Nxu expects to continue supporting the growth of EVs through industry-leading grid storage solutions, charging infrastructure, and cloud management.
NXU Shares Soar at Market Open
Shares of Nxu Inc. soared 46.39% to $1.17 as of 09:37 AM EST. The previous close for NXU was $0.7992. The technology company opened at $0.7940 before rising to a day’s high of $1.2900. NXU traded within a range of $1.07 to $1.29, with volume hitting 23,638,168 shares compared to a 65-day average of 1,523,118 shares. NXU, recently valued at a market capitalization of $3.607 million, reported a negative EPS (TTM) of -88.8000 and lacked a PE ratio. Over 52 weeks, shares of Nxu Inc. have traded between $0.7070 and $151.5000. Analysts have set a 1-year price target of $112.50 for the company.
—
Originally Posted March 01, 2024 – Nxu Inc. (NXU) Shares Soar Over 46% After Cybertruck Charging Milestone
Disclosure: Tim Fries has no positions in any of the stocks mentioned, and has no plans to initiate any positions within the 72 hours following the publishing of this article. This article expresses the opinions of Tim Fries. Tokenist Media LLC has no position in any of the stocks mentioned, and does not plan to initiate any positions within 72 hours of the publishing ofthis article. Please consult our website policy for more information.
Join The Conversation
If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.
Leave a Reply
Disclosure: The Tokenist
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult a licensed financial advisor prior to making financial decisions.
Disclosure: Interactive Brokers
Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.
This material is from The Tokenist and is being posted with its permission. The views expressed in this material are solely those of the author and/or The Tokenist and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.
That’s great that NXU is up 46 percent. You failed to mention that it’s down 99 percent for the year. It’s also has a market cap of about 3 million. So why are you even mentioning it?