EV charger Wallbox rallies on investment from Generac

Wallbox’s stock
WBX,
+16.03%
was rallying by 22% Monday after generator specialist and S&P 500
SPX,
-0.97%
component Generac Holdings Inc.
GNRC,
-0.28%
said it made a minority investment in the electric-vehicle charging company. Financial terms were not disclosed. Generac will also get a seat on Wallbox’s board of directors and a global commercial agreement to provide Generac’s residential and commercial customers with Wallbox’s products. Generac stock is up by 21.5% in 2023, compared to a 19.7% gain by the S&P 500
SPX,
-0.97%.