Why EHang Stock Was Flying Today | The Motley Fool : vimarsa

Why EHang Stock Was Flying Today | The Motley Fool


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What happened
Shares of 
EHang Holdings (NASDAQ:EH) climbed roughly 11.4% on Monday, according to data from S&P Global Market Intelligence. The stock gained ground in conjunction with the company's presentation of its electric flying taxi at the Mobile World Congress (MWC) in Barcelona, Spain.
Monday's trading also generally saw very strong performance for growth-dependent technology stocks. The tech-heavy
Nasdaq Composite index closed the day up roughly 0.9%, and EHang benefited from the positive market momentum. 
EHang's flying taxi. Image source: EHang.
So what
Andreas Perotti, the company's chief marketing officer in Europe, gave presentations and showed off the EHang 216, its electric-powered, autonomous flying taxi. In addition to the MWC exhibition, June has also seen investors rotate back into growth-focused technology stocks. It's unclear which factor played the bigger role in the stock's gains on Monday, but the market's overall appetite for risky growth plays could have a significant impact on the company's share price in the near term. 

Related Keywords

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