In this edition, we will cover the last 7 days of relevant market data in the zero-emissions vehicle space. The stock market has had quite the ups and downs in regards to the shift to zero-emissions, and we want to share some of the latest details we find. ZEV Society will cover trending stock news articles on a few companies and try to identify what is making them move.
S&P 500 Index (SPX)
This week’s overall market sentiment is on a bullish path for the S&P 500 index. Positive news in the coronavirus vaccine updates has lifted stocks higher. EV stocks have taken some hits during the pandemic with unknowns regarding vehicle deliveries, production shutdowns, etc. In the past 10 days, the market has hit a low-high of $3336.25-$3645.99. Ample opportunity to gain or lose, the market has been volatile and does not appear to calm down anytime soon.
Tesla (TSLA: NASDAQ) made stock headlines this week; the S&P Dow Jones stated it will be adding the ticker on December 21st. After failed attempts back in September, the volatility of the stock increased as the majority of bullish investors anticipated success. TSLA stock rocketed 12% in pre-market trading on the news that the symbol would be added. With a 414 billion market cap and being one of the most valued stocks added to the S&P 500, TSLA may need to be added in two separate intervals. An electric vehicle stock will make history as one of the largest trades in S&P 500 history, which is quite a remarkable feat.
Nio (NIO: NYSE) this week is inching upwards with anticipation of positive results for the earnings call this Tuesday. A recent target of short-seller Citron Research claims Nio’s valuation cannot be justified. The mixed feelings have caused heavy volatility on the symbol with a low-high of $32.75-$54.2 in the last 10 days. Nio is an all-electric vehicle maker in China that is trying to control the EV market share before its rivals. Revenue has jumped $628 million or 144% in the last year alone. 2020 Q3 vehicle deliveries were a bit north of 12,000. This stock has shown serious momentum upwards in the last year alone with gains over 1000%. ZEV Society is keeping our eyes open, watching the news unfold on NIO.
The race to dominate zero-emissions has mainly been focused on electric; PLUG (PLUG: NASDAQ) thinks otherwise. Plug Power is betting on hydrogen fuel. This week’s volatility for the stock has been quite a ride, bouncing between gains and losses as the minutes pass. Plug this week made an offering of 38,000,000 common stock shares at a price of $22.25, which caused the shares to plunge initially due to the fact that it was lower than the current price. Earnings for the quarter beat expectations on wall street, with Plug posting a record revenue, the mixed results have caused volatility, but overall, the stock shows strength. Plug has been a player in this space for quite some time, and we are interested to see the path it takes in the zero-emissions revolution.
LI AUTO (LI)
Speaking of Chinese EV makers, the space is competitive and heating up, and Li Auto (LI: NASDAQ) is another company racing to gather as much market share as possible. In the last ten days LI has exploded in price, swinging from a low-high of $22.05-$41.7. Buckle up and grab a sick sack, the emotional roller coaster of this stock will keep you on your toes! Li Auto forecasts 30% quarter over quarter sales gains focused on family-oriented SUV’s, and a competitive advantage in autonomous capabilities. Where it goes, nobody knows but it’s a stock to keep an eye on.
Current Electric Vehicle Stock Prices
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