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Westport Fuel Systems Stock Gains Following Amazon News

Sam Boughedda trader
Updated 8 Feb 2021

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Westport Fuel Systems (NASDAQ: WPRT) Nasdaq-listed shares are gaining premarket following a Reuters report on Friday, that said Amazon has ordered hundreds of trucks that run on compressed natural gas as it looks to move away from heavier polluting vehicles.

According to the article Amazon has ordered 700 compressed natural gas class 6 and 8 trucks so far with the engines supplied by a joint venture between Cummins Inc and Vancouver-based Westport Fuel Systems. They will be used for Amazon’s heavy-duty trucks that move between its warehouses and distribution centres.

Reuters said more than 1,000 engines operating on both renewable and non-renewable natural gas have been ordered by the supplier.

Westport Fuel Systems share price rose 3.47% on Friday, while it is now trading 49.7% higher at $12.95, a new high for the stock price.

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Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.