Quotes on EVgo, a small U.S. company that builds charging stations for electric vehicles (EVs), <a href="https://www.marketwatch.com/investing/stock/evgo">jumped</a> more than 60% on Thursday, October 3. Earlier in the day, the U.S. Department of Energy (DOE) <a href="https://www.energy.gov/lpo/articles/lpo-announces-conditional-commitment-evgo-deploy-nationwide-ev-fast-charging-network">announced</a> a conditional $1.05 billion loan guarantee for the company. The financing should allow EVgo to almost <a href="https://evgo.com/">double</a> its charging network and compete with <strong>Elon Musk</strong>'s Tesla, Reuters <a href="https://www.reuters.com/technology/us-offers-evgo-conditional-105-billion-loan-ev-chargers-2024-10-03/">notes</a>.

EVgo stock surges 60% after $1 billion loan commitment from U.S. energy agency

Big Tech stocks plunged on Thursday, July 12, after unexpectedly positive inflation data came out. Investors began shifting capital from the Magnificent Seven to small-cap stocks, anticipating growth in the latter after a potential Fed rate cut in September, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-07-10/stock-market-today-dow-s-p-live-updates">reports</a>.