From Nasdaq: 2024-07-09 14:35:59

The electric vehicle sector is seeing a resurgence, with market leader Tesla leading the way. Infrastructure specialist Beam Global is benefiting from increased orders and positive developments in the EV ecosystem, causing its stock to soar.

Beam Global’s market value has increased by over 41% in the past five sessions, with a further 16% jump in afterhours trading. The company’s stock is still down 3% YTD, but shows potential for further growth.

Beam Global stock is receiving significant attention in the options market, with a bullish sentiment and high call volume. This suggests optimism and potential for a continued rally in the stock.

Technical analysis shows potential for BEEM stock to continue rising in the coming months, with indicators like breaking through moving averages and rising volume pointing towards bullish momentum.

Beam Global may benefit from a pivot towards middle-income buyers in the EV space, as more manufacturers focus on developing affordable EV options. This shift could lead to increased demand for public charging solutions, benefiting companies like Beam Global.



Read more at Nasdaq: Unusual Options Point to Something Cooking for Beam Global (BEEM)