Why EVgo Stock Surged Over 25% This Week and Could Rally Even Higher

After falling steadily for some weeks, EVgo (NASDAQ: EVGO) rebounded sharply this week, surging 27% at its highest point in trading through 2 p.m. ET Friday, according to data provided by S&P Global Market Intelligence.Investors might be worried about the fate of EVs under the Trump administration, but at least one analyst believes EVgo could soon get big funding that should propel the electric vehicle (EV) charging stock.In October, EVgo received a conditional commitment for a $1.05 billion loan guarantee from the U.S. Department of Energy (DOE) to accelerate the expansion of the EV charging network in the nation. EVgo is one of the nation's largest public EV charging networks, with over 1,000 fast-charging locations across 40 states.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool