HI there,
THe jump is two fold. First, it is riding the Tesla wave like most other EVs. WHen it was announced that Tesla would be added to the S&P 500 they all jumped as a result. The problem with small cap momentum investing, retail investors tend to get in at the highs (after the big jump) then sell when it inevitably drops as they get spooked.
What I do like about GPV over the others is that it actually has a product that it is selling. That is more than most others in the industry.
The other catalyst is likely earnings which came out last week. The company reported revenue of $2.8M in which it completed and delivered 21EVs. This is up 21.7% from the 2.3M (17EVs) it generated last quarter. The biggest 'news' out of that release was the fact it now expects to be able to complete and deliver 20 EVs per month, and $8M revenue quarterly, a big improvement over the current production rate. Outside of that, there has been little in the way of news from the company since we last updated this report:
https://www.stocktrades.ca/premium/custom-stock-reports/greenpower-motor-company-gpv-to/
Although the jump in production is great and addresses one of my previous issues with the company - it has yet to announce any further meaningful contracts. With these speculative stocks which are highly volatile, it is always best to average into positions.
Mat