electricvehicleev
Electric vehicle (EV) stocks have stabilised in the past few weeks as investors started to buy the dip after most of them crashed by double-digits this year. Therefore, an important development in the industry has led analysts to predict a comeback in some popular names. Tesla stock has surgedThe important news in the EV industry that could affect the likes of Lucid Group, Rivian, Polestar, and XPeng is the ongoing recovery of Tesla shares. Tesla jumped by almost 10% on Tuesday and reached its highest point since January 10th. It has now risen by over 66% from its lowest point this year, a spe...
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BYD Company Limited is in focus this morning after reporting a record number of vehicle deliveries for its second quarter. The EV company’s deliveries in Q2 may have made it globally the biggest seller of electric vehicles. How many vehicles did BYD deliver in Q2BYD delivered a total of 426,000 pure electric vehicles in the second quarter. In comparison, the most current Wall Street estimate is for Tesla Inc to deliver about 420,000 cars in Q2. Tesla Inc is also expected to publish its quarterly production and deliveries number later today. If it does indeed come roughly in line with estimates...
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Mullen Automotive (NASDAQ: MULN) stock price continued its downtrend this year, making it one of the worst performers in the electric vehicle (EV) industry. MULN has tumbled by 83% this year as the S&P 500 and Nasdaq 100 indices have soared to their record highs. The company has also underperformed other American and Chinese EV companies like Rivian, Lucid, and Tesla. Short sellers are thrivingMullen Automotive’s collapse has hurt many investors who have hoped of a rebound. At the same time, it has benefited many short sellers since the company is one of the most shorted companies in Wall Stre...
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EVGo (NASDAQ: EVGO) and ChargePoint (NASDAQ: CHPT) stock prices have continued falling this month even as the Nasdaq 100 and S&P 500 indices jumped to a record high. EVGO has crashed by over 32% this year, giving it a market cap of over $724 million. ChargePoint’s stock has also dropped by over 36% this year as its valuation moved to over $630 million. Other electric vehicle charging companies like Blink Charging and Wallbox have also tumbled in the past few years. This decline has benefited short sellers since ChargePoint and EVgo are some of the most shorted companies in Wall Street. ChargeP...
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China’s BYD saw a 21% increase in second-quarter electric vehicle (EV) sales, narrowing the gap with Tesla. The Warren Buffett-backed company said late Monday that it sold 341,658 vehicles during June, compared with 331,817 a month earlier and 253,046 in June 2023. BYD vs TeslaBYD sold a total of 426,039 EVs from April to June, just 12,000 vehicles shy of Tesla’s estimated deliveries for the same period. Tesla is expected to report a 6% decline in vehicle deliveries for the April-June quarter on Tuesday. This marks the first time the U.S. firm could see two consecutive quarters of declining de...
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Nio (NYSE: NIO) stock price has crashed hard after peaking at almost $67 in 2021. It has plunged by over 51% this year, bringing its valuation to over $8.6 billion. Also, the stock has melted by more than 55% in the past 12 months. The EV industry woesNio’s downfall has happened in sync with other EV companies, which have pulled back sharply in the past few years. Tesla, the best-known EV brand in the world, has also dropped by over 50% from its all-time high. Other American EV companies like Lucid Group and Rivian have tumbled while Fisker filed bankruptcy in May. Nio’s stock crash has also c...
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The Nikola (NASDAQ: NKLA) stock price continued its deep sell-off this week and moved to its all-time low as concerns about its business accelerated. It plunged to a low of $7.40 on Monday, bringing the year-to-date losses to almost 72%. It has dropped by almost 98% in the past five years, bringing its market cap from almost $30 billion to $370 million today. Can Nikola survive?The trucking industry is one of the most important one globally since it facilitates all types of trading. It is also a highly consolidated industry that is dominated by companies like Daimler Trucks, Iveco, and PACCAR....
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Tesla (TSLA) stock is showing immense strength just a day before its quarterly deliveries are announced. It is up over 16% in the last 5 trading days and 20% in the last month. It does not show any signs of stopping. As of writing this article, the stock was trading at $212, up 7.15% for the day. How is this optimism and momentum justified? After all, we are expected to receive decreasing Tesla deliveries Year on Year for the second quarter in a row. What are the analysts saying?It’s hard to look at analysts to find the answer. As always, there are some that are optimistic while there are othe...
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Nio Inc (NYSE: NIO) is pushing to the upside today after reporting a near 100% year-on-year increase in its June deliveries. Shares of the electric vehicles company are still down close to 50% versus the start of 2024. Nio deliveries more than doubled in Q2Nio delivered a total of 21,209 vehicles last month – up a whopping 98.15% versus a year ago. 9,628 of those were sedans while 11,581 were sport-utility vehicles, as per a press release on Monday. The EV company also reported 57,373 deliveries for its second quarter as a whole this morning, which translates to about a 144% growth on last yea...
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Electric vehicle maker Rivian Automotive Inc (NASDAQ: RIVN) hosted an open investors’ call last night, at 6pm Eastern Time, at which it discussed the new $5 billion dollar deal that sent the Rivian stock price soaring yesterday. The Rivian stock priceAs a result, Rivian’s share price rose $5.97, or 49.92%, in after-hours trading. At the time of this article going to press, Rivian’s stock was already up 8.63% today in premarket trading, to a current share price of $11.96. Volkswagen to invest $5 billion into RivianOn June 25 yesterday, both Volkswagen Group (ETR: VOW3) and Rivian announced that...
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