HomeMarket NewsMicro Cap StocksNxu Stock Races Higher After Charging Tesla Cybertruck: What's Going On?

Nxu Stock Races Higher After Charging Tesla Cybertruck: What's Going On?

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Nxu Charges Ahead as Tesla Cybertruck Fueled: A Shocking Development

The Electrifying Charge

Tesla Cybertruck TSLA

The stock of Nxu, Inc. NXU is sky-rocketing after news broke that the company managed to charge a Tesla, Inc. TSLA Cybertruck on its NxuOne Charging System.

The Breakthrough

Nxu proudly proclaims that this could be the inaugural successful Cybertruck NACS (North American Charging Standard) charging session carried out on a non-Tesla DC fast charging station.

β€œWe are thrilled to announce this significant milestone in the world of electric vehicles. Showcasing the ease with which Nxu’s charging technology powered up the Cybertruck exemplifies our dedication to enhancing EV technology and offering EV owners with efficient, reliable, and state-of-the-art charging solutions,” said Nxu CEO, Mark Hanchett.

The uptrend in Nxu shares was immediately noticeable amidst robust trading volumes, with more than 40 million shares changing hands during the session, substantially exceeding the stock’s 100-day average of 1.58 million shares.

Related News: Dell Reports Better-Than-Expected Q4 Results Driven By AI Server Demand

Securing A Stake

For those intrigued by Nxu, plunging into the market to acquire shares or perhaps wager against the company might be top of mind.

Taking a position in shares typically involves maneuvering through a brokerage account. Various trading platforms permit this, even enabling the purchase of β€˜fractional shares’ to own segments of stock without committing to a full share. Consider high-priced stocks like Berkshire Hathaway or Amazon.com; owning just one share can be a hefty investment. Brokers accommodate partial investments to mitigate this hurdle.

As for Nxu, currently trading at $1.14, an investment of $100 would secure you 87.72 shares of stock.

If intending to wager against a firm, the journey is more intricate. You’ll necessitate an options trading platform to β€˜go short’ on a share of stock by borrowing shares for sale. Delve into resources on shorting stock or explore options trading via brokers to profit from declining share prices.

NXU Price Action: As per Benzinga Pro, Nxu shares have surged by 35% to $1.08 at the hour of publishing.

Image: GGBot from Pixabay

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