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For some time, the electric vehicle sector looked as if it were on life support. However, a significant rebound in market leader Tesla (TSLA) along with other positive news items helped rejuvenate sentiment. As a result, investors need to pay close attention to Beam Global (BEEM). An infrastructure specialist focused on the electrification of transportation, the shifting tides couldn’t have come soon enough for BEEM stock.
On Monday, shares gained 18% as investors continued to pile into a key catalyst. Last week, Beam announced that orders jumped 128% on a year-over-year basis in the second quarter. What’s more, over half of U.S. orders originated from new customers. In Europe, the enterprise shipped its first EV ARC system, which is a solar EV charging solution. Combined with broader positive developments in the ecosystem, BEEM stock naturally shot skyward.
