Why Arrival Group Stock Jumped Double Digits Wednesday

Howard Smith, The Motley Fool
·1-min read
Why Arrival Group Stock Jumped Double Digits Wednesday

UK-based electric vehicle company Arrival (NASDAQ: ARVL) doesn't expect to begin production of its first commercial product until later this year, but it hit what it called a "major milestone" today. On a day when stocks in the electric vehicle (EV) sector were already moving higher, Arrival shares jumped as much as 18% before closing 12% higher on the day. Today, the company announced via Twitter (NYSE: TWTR) that it delivered its first prototype electric delivery van to investor and customer United Parcel Service (NYSE: UPS).