HYLN stock saw lots of panic selling the past couple days.
After $25 per share prediction almost came true, seems like there is a first good news regarding HYLN stock. But is this chump change order going to turn the tide when it comes to Hyliion?
After a mass selloff following IPO day, only thing Hyliion (NYSE:HYLN) stockholders wanted to know is – Are there any good news to lift off the stock price? And looks like one such news is coming their way.
According to the local media, Kuwait based Agility Public Warehousing Company, wants to invest more than $39 million in HYLN shares through Colle Capital.
Agility is a global logistics company, providing freight forwarding, transportation, warehousing and supply chain management services.
Agility, listed on the Dubai Financial Market and Boursa Kuwait, has received neither a subscription confirmation nor a stock certificate yet, according to a bourse disclosure on Thursday. On October 5 (Hyliion IPO day), the company announced that it would invest KWD 20 million ($65.5 million) in alternative technologies in cooperation with the US-based Colle Capital Venture Fund.
Is this HYLN reversal day?
While this may help HYLN shares bounce back a little, more is needed for a positive long term outlook. Hyliion is still being oversold and if we look at the 50 day average, HYLN is in a bear territory. But if you trust in the company do not pay attention to “oversold”, you know what you are investing in.