Here’s Why The Electric Vehicle Charging Business Is On The Rise By Investing.com

Shares of Allego (NYSE:) rose more than 150% on Wednesday evening, just days after the provider of electric vehicle (EV) charging solutions entered into a business combination with the acquisition company in Special Purpose (SPAC) Spartan Acquisition Corp.

“We look forward to completing our combination with Allego tomorrow and are very pleased to list them on the New York Stock Exchange to continue to advance electric vehicle charging across Europe,” said Geoffrey Strong, CEO of Spartan. .

Although there is no specific underlying reason for today’s rise, Allego stock has been regularly quoted on social media sites Twitter and Stocktwits in recent days. The stock was halted four times due to volatility during Wednesday’s session and continued to advance to new highs throughout the session.

Twitter data traffic shows that Allego stock has seen an increase in volume, alongside Company Pass (NASDAQ:) and Koss (NASDAQ:).

Today’s move comes after meme shares surged yesterday, led by GameStop (NYSE:) and AMC (NYSE:).

By Senad Karaahmetovic

(Posted at 11:02 a.m. ET, updated at 2:44 p.m. ET).

Warning: Merged media would like to remind you that the data contained in this site is not necessarily in real time or exact. All prices for CFDs (stocks, indices, futures) and Forex are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price, which which means that the prices are indicative and not suitable for commercial purposes. Therefore, Fusion Media assumes no responsibility for any business losses you may incur due to the use of this data.

Merged media or anyone involved with Fusion Media will accept no liability for any loss or damage resulting from reliance on the information, including data, quotes, charts and buy/sell signals contained in this website . Please be fully informed of the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investment possible.