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July 28, hyliion (NYSE:HYLN) shares closed at exactly $10, to the nearest penny, and have stayed below that line for most of the time since. This is an incredible bargain in my opinion, and I am privileged to have the opportunity to beat the table for HYLN stocks today.

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I don’t want to brag, but I was less bullish when the stock was trading at $58 in September of last year. I could feel the hype phase starting to wear off and I felt the stock was going to roll.

But HYLN stock isn’t just rolling now—it’s playing dead. You would think, judging by the stock price action, that Hyliion was closing up shop and giving up.

Nothing in the company’s press releases suggests that Hyliion is in trouble. One day, you might look back and wish you had taken a position when the stock price was this low.

A Closer Look at HYLN Stocks

Or, the HYLN stock could drop to zero. Who knows, really? But if you really believe in “buy low, sell high”, then this is your chance to act.

Consider this. Before shell company Tortoise Acquisition (which traded as SHLL stock at the time) announced its intention to merge with Hyliionthe stock price was around $10.

And now HYLN stock is back down to that same price.

Markets don’t often give second chances, but traders now have the option to go back and enter the ground floor with Hyliion.

What drove the stock price to this level? That’s likely because the frenzy over special purpose acquisition companies (SPACs) and electric vehicles has come and gone.

Personally, I like to recommend stocks after the hype cycle ends – or better yet, before the next wave of interest arrives.

Long range version, long range vision

Again, I’m shocked that HYLN stock isn’t higher than it is right now. The company is a true innovator and the Hyliion automotive product line is only expanding in 2021.

Doubters and skeptics should immediately read the new version of Hyliion Press release announcing a long-range version of the company’s Hypertruck ERX.

What do we mean by “long range”? At product launch, this truck will offer 75 miles of all-electric range and over 1,000 miles of full range.

That 1,000-mile total range will allow for cargo-hauling capabilities comparable to what you’d expect from diesel trucks.

Battery-only electric trucks typically face issues with range and charging infrastructure. To solve this problem, the Hypertruck ERX’s long-range electric powertrain system uses an on-board generator to continually recharge the battery while driving.

Plus, the long-range Hypertruck ERX is plug-in compatible. As a result, fleets that deploy it will have the ability to recharge with low-cost renewable electricity from the grid.

Zero emissions, full compliance

I’ve focused on the range and plug-in capability of the new Hypertruck ERX release, but there’s another angle worth noting.

Due to its increased all-electric range, the new line of Hyliion trucks will comply with California’s Advanced Clean Truck Rule regulations.

In addition, the production vehicle should be eligible for zero-emission vehicle sales credits.

In other words, there is a significant financial incentive for companies to deploy the long-range Hypertruck ERX as soon as it becomes available.

Additionally, this new version of the truck will help businesses stay compliant with regulations.

As Hyliion points out, “The ACT rule, approved by the California Air Resources Board in June 2020, requires manufacturers of Class 8 tractors to sell ZEVs. [zero-emission vehicles] in California, starting with the 2024 model year.”

In anticipation of that, we might expect companies to opt for vehicles that offer emission-free power, range and efficiency – and the long-range Hypertruck ERX should do just fine.

The essentials of HYLN stock

Believe it or not, if HYLN’s stock drops further, I will continue to recommend it.

If anything, I’ll be even more excited about it. This is how I roll.

And if you’re shorting the stock, be careful. You might be overwhelmed by a wave of interest in the long-range Hypertruck ERX.

As of the date of publication, David Moadel had (neither directly nor indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publication guidelines.

David Moadel has delivered compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga and (of course) InvestorPlace.com. He is also the Chief Analyst and Market Researcher for Portfolio Wealth Global and hosts the popular YouTube financial channel Looking at the Markets.

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