Why Lincoln Educational Services Stock Is Rising After Tesla Agreement

Lincoln Educational Services Corp LINC shares are trading higher by 5.34% to $7.70 Tuesday morning after the company signed an agreement with Tesla, Inc. TSLA to train EV technicians.

What Happened?

Lincoln Educational Services says a Tesla training facility will be established at Lincoln Tech's Denver, CO campus as part of a 3-year plan whereby the school will provide Tesla START training at no cost to students to help develop the next generation of Tesla's service technician workforce.

Automotive Technology graduates from any of Lincoln Tech's campuses will be eligible to apply for this advanced EV training program.

Why it Matters

"Entering into this agreement with Tesla solidifies Lincoln Tech's commitment to providing electric vehicle training for 21^st century Automotive Technicians," says Scott Shaw, Lincoln Tech's President and CEO.

"It is the latest advancement in our EV training programs, and having Tesla's backing and input in developing these programs will be invaluable for our organization and for our students. It is our intention to become the leading provider of EV Automotive Technology training," Shaw stated.

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According to data from Benzinga Pro, Lincoln Educational Services has a 52-week high of $8.20 and a 52-week low of $4.94.