5 Stocks With Unexpected Gains

3. Amprius Technologies Inc. (NYSE:AMPX)

Amprius Technologies saw its share prices increase by 9.75 percent to close at $17.56 apiece, as investors took heart from the booming demand for electric vehicles, which sparked buying appetite for its stock.

According to reports, EVs are getting a boost from the ongoing tensions in the Middle East, as customers try to mitigate risks from the surging crude oil prices.

A report by online vehicles marketplace Autotrader last month said that it saw a 28 percent jump in inquiries for new EVs, while 15 percent have inquired about used ones, since the US-Israeli war on Iran started on February 28.

Optimism for EVs, on the other hand, spilled over to battery stocks, including Amprius Technologies Inc. (NYSE:AMPX), backed by earlier reports that it secured $21 million worth of orders for its SiCore cylindrical cells from a premier EV maker in China.

The batteries will be installed in its range of light electric vehicles, including scooters, three-wheelers, and motorcycles.

Citing a study by Ratel Consulting, Amprius Technologies Inc. (NYSE:AMPX) said that the battery market for light electric vehicles such as e-scooters, e-bikes, three-wheelers, and electric motorcycles, among others, is growing at a 15 percent compound annual growth rate and is projected to reach 26 GWh by 2030.