Pioneer Power stock rockets on massive volume after introducing mobile EV charging products

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Shares of Pioneer Power Solutions Inc. PPSI, +154.59% rocketed 82.5% on massive volume in midday trading Monday, enough to make them the biggest gainers on major U.S. exchanges, after the maker of on-site power generation equipment announced the launch of its E-Boost portfolio of mobile electric-vehicle charging products. Volume spiked to 155.2 million shares, compared with the full-day average over the past 30 days of about 146,230 shares, and making the stock the most actively traded on the Nasdaq. The company said it did not comment on stock action. The E-Boost portfolio includes a truck-mounted product, providing truck and car owners with dispatchable charging services; a trailer-mounted product for higher capacity EV charging, which also provides options for towing; and stationary EV charging products that can be moved if needed, and can provide high-speed DC fast charging to two vehicles. “We are anticipating the rapidly growing demand for high-capacity mobile charging that will be required to support the wide range of EV and mobile power use cases with E-Boost products,” said Chief Executive Nathan Mazurek. The stock has soared 53.2% year to date, while the Russell 2000 of small-capitalization stocks has rallied 24.1% and the S&P 500 SPX, +0.09% has gained 25.1%.

This article was originally published by Marketwatch.com. Read the original article here.

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