Expion360 Inc (XPON) stock could gain traction as EV sector rebounds

Expion360 Inc (NASDAQ:XPON) last traded at $2.5700 with a gain of +1.59 (+161.58%). The stock prices surged after the company announced that it has been selected as the exclusive supplier of high-energy lithium ion batteries for an overland trailer to be branded and sold by a top U.S. sports utility vehicle manufacturer.

XPON Stock Chart

Where is XPON Stock Headed ?

XPON is a small cap company with solid news announced post market today. The overall risk of an offering is low and that’s important to know since it’s up over 100% here in the after hours on good news. The company has 12.7 months of cash left based on quarterly cash burn of -$1.57M and estimated current cash of $6.7M. As a trader, the game plan at this moment should be to look for retracement to $2 and look for a trade from there to $3. Goal is always 10-20% inside the range.