Investors adore Hyliion (NASDAQ:HYLN) stock today, here is why.
After so many miserable,red, days HYLN shareholders are finally looking at the green candles. I called $25 a new bottom yesterday, and seems like I was right.
The company seems to be attracting increasing interest at the moment due to large institutional buying and an overall green day for EV stocks, such as NIU, TSLA, NIO and XPEV.
According to one of the traders HYLN “ripped back over the 100 SMA which is a good sign. Let’s see if that holds today and we gain some momentum finally and take back the 50 in the $38 area soon” and he added that “if you are in HYLN for the long-term, don’t worry about the 5-20% daily moves.”
$HYLN - Ripped back over the 100 SMA this which is a good sign. Let's see if that holds today and we gain some momentum finally and take back the 50 in the $38 area soon👍!— SpacBobby (@SpacBobby) October 14, 2020
If you are in these for the long-term, don't worry about the 5-20% daily moves. All noise in the long-run! pic.twitter.com/FuBvafNDjh
This is exactly what I have been talking about but the sad truth is…many investors are not into stock for the long run, they want to get rich fast. And this leads to selloffs and fear because they always enter certain stock when the share is spiking. At the wrong possible moment.
Hyliion is different
HYLIION is now attracting more and more attention. On the one hand, the Texan company can be seen as a competitor to the other e-mobility groups, on the other hand, the concept at HYLIION is a little different: “What we do is concentrate on the vehicle’s drive train instead of the entire vehicle from scratch on to reinvent, “Thomas Healy, CEO of HYLIION, told Yahoo Finance.
As HYLIION mentioned several times already, the company was created specifically to further develop existing infrastructures and to support “rapid technology introduction.” There are also plans to introduce a new product called Hypertruck ERX. This includes an electric drive train, its use of renewable natural gas should be able to achieve a net footprint with negative carbon emissions. A charge of the natural gas-powered generator should enable a range of 1,000 miles.