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 was down then up for the S&P 500 index. Pandemic news initially caused a slight drop, then more news caused upward movement. The past 7 days the market has hit a low-high of $3543.84-$3630.62. This week provides opportunity to gain or lose, the market will continue to be volatile.
Tesla (TSLA: NASDAQ) made stock headlines again this week, this time more focused on Elon Musk. The continuous bull roar of TSLA has now officially made Musk the second richest person in the world. Musk’s net worth is calculated at $127.9 billion, which has increased by $100 billion in 2020 alone. This stock just keeps climbing, early investors are celebrating gains and short sellers are crying in the corner. The stock still has growth anticipation due to last weeks inclusion in the S&P 500.
NIU Technologies (NIU)
NIU (NASDAQ: NIU) is a Chinese smart electric scooter manufacturer that was on a constant bull run since May. Recent Q3 earnings call slashed the stock price by 9% as they missed expectations. Revenue reported in at $135.8 million below estimates of $149.3 million. Earlier investors would still be holding on to gains as the stock increased 37% in October alone. The last 7 days low-high price came in at $30.5-$37.28, big swings to take advantage of for day traders. If NIU can represent continuous growth the market may take this stock to higher and higher highs.
Blink Charging Co. (BLNK)
Move over, rocket coming through! Blink (NASDAQ: BLNK) stock has been on an absolute tear in the last 7 days. From a low of $11.62 to a high of $38.31. No one even knows why beyond general market interest in the electric vehicle market. Today the market may have realized it moved a little quickly, coupled with Citron throwing some shade at the company. Blink tumbled 13.2% after Citron called Blink the “new most ridiculous EV stock” ouch. The stock keeps falling as we write this article. Blink is in the business of charging infrastructure and provides products to keep EV’s moving.
Nikola (NASDAQ: NKLA) this week has had healthy gains since their recent turmoil of losing its CEO and being lambasted by Hindenburg Research. In the last 7 days the stock has climbed from $21 to as high as $37.95. The GM and Nikola deal still hangs in the balance of negotiation. Regardless of past issues investors show promising hopes that the technologies offered will still reel in partnerships. Electric trucks will be a huge focal point for the electric vehicle space. We will continue to watch NKLA as it creates headlines.
Disclaimer: This is not an investment advisory and should not be used to make investment decisions. Information at ZEVSociety.com are opinions and for information purposes only. There is no express or implied solicitation to buy or sell securities. Do not consider buying or selling any stock without conducting your own due diligence and speaking with a licensed financial advisor.