The stock of SPI Energy Co., Ltd. (SPI) saw a gain in the Pre-market. The stock reached $7.27 ‎by increasing 0.28% in the Pre-market. In the last trading session, the stock closed at $7.25 which ‎is a 17.89% gain in just a single day. The total volume of the stock traded in the market was ‎‎786.71K. There are mainly two reasons which could be linked to this uprise in the stock which ‎we will see in the following details.‎

Two main reasons for the SPI Energy Co., Ltd. (SPI) stock gain:‎

After the IPO by Rivian (NASDAQ: RIVN) and the positive news from the Electric Vehicle ‎Companies, made investors not ignore the EV stocks. Due to this boom, the shares of SPI ‎Energy Co., Ltd. (SPI) are taking advantage of it. After which the stock of the SPI gained ‎a value of 17% before closing. Also, the trading volume was seen to be 10 times more than the ‎daily average trading volume of its company’s stock.‎

So why this affected the SPI Energy Co., Ltd. (SPI) stock to gain value? The reason is, investors ‎are interested in its company’s stock due to EdisonFuture, which is a subsidiary of SPI Energy ‎who is introducing its debut electric truck named EF1-T e-pickup Truck. The USP (unique ‎selling proposition) of this EV truck is, it will be able to charge by solar energy. So this means it ‎will be able to charge itself while under the sun.

Another reason for this increase in the stock could be related to the issue of a $4.21 million 10% ‎convertible promissory note on 12th November 2021 to StreetervilleCapital, LLC.

The board of directors of SPI approved this convertible promissory note that bears interest at the ‎rate of 10% per year. The maturity date of this convertible promissory note is set to be 11 ‎November 2022.

Conclusion

After the news hit the market, the stock of SPI Energy Co., Ltd. (SPI) saw a positive trend, and ‎investors seemed to be taking a serious interest in its stock. The debut of the electric trucks by its ‎subsidiary company kept the investors hooked and are likely to positively affect the stock of the ‎company in the upcoming days.