EVgo, Inc. (NASDAQ:EVGO) operates a direct current (DC) fast-charging network for electric vehicles (EVs) in the United States. The focus is on fast chargers, which gives it a different business strategy than its competitors. Is this a smart move to gain an economic moat in the race towards electrification of mobility? It might be reflected in the price of EVGO stock.
EVgo went public in summer 2021 after it and Climate Change Crisis Real Impact I Acquisition Corp, a special purpose acquisition company (SPAC), finalized their merger. Year-to-date, shares of EVgo have outperformed the Nasdaq with gains of 6% versus losses of approximately 15%. This is due to a 1-month rally of nearly 38% for EVGO stock, an impressive trend. Will it last?
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