tl;dr
The electric vehicle sector experienced a sharp decline in morning trading on Thursday, largely due to Tesla's warning on a notably lower vehicle volume growth rate in 2024 and a lack of specifics in its outlook for the same year. Decliners included Fisker (FSR) -11.8%, Lucid Group (LCID) -10.7%, ...
The electric vehicle sector experienced a sharp decline in morning trading on Thursday, largely due to Tesla's warning on a notably lower vehicle volume growth rate in 2024 and a lack of specifics in its outlook for the same year.
Decliners included Fisker (FSR) -11.8%, Lucid Group (LCID) -10.7%, ChargePoint Holdings (CHPT) -10.8%, and several other notable companies in the EV sector, with Tesla's own shares down 11.2% at 11:15 a.m. on Thursday, trading at a 2024 low. Tesla's earnings call left analysts and investors underwhelmed, lacking specifics on the outlook for automotive margins and pricing for 2024. Elon Musk's comments on Chinese car companies also drew interest.
More about Tesla Inc
Tesla, Inc. is an American electric vehicle and clean energy company based in Palo Alto, California. In 2020, Tesla had the highest sales in the plug-in and battery electric passenger car segments, capturing 16% of the plug-in market and 23% of the battery-electric market. Through its subsidiary Tesla Energy, the company develops and is a major installer of solar photovoltaic energy generation systems in the United States. Tesla Energy is also one of the largest global suppliers of battery energy storage systems, with 3 GWh of battery storage supplied in 2020.
Financial data: Market Cap - $660,674,904,000, Stock Price - $67.04, Dividend Yield - 3.1%, P/E Ratio - 30.28, Beta - 0.112, Revenue - $95,924,003,000, EPS - $226.81, ROE - -0.442, Current Ratio - 0.088
More about Fisker Inc
Fisker Inc is a company that focuses on the design, development, manufacture, and sale of electric vehicles. As of the latest financial data, the company has a market capitalization of $454,273,000 and a stock price of $2.85. The company has reported a net loss of $1.43 per share, with a total revenue of $73,129,000. The stock performance has been relatively flat, with a minimal change of 0.222. Market sentiment is uncertain, as the company operates in a competitive and rapidly changing industry. Investors should be cautious and consider the potential risks associated with the company's financial performance and market conditions.
More about Lucid Group Inc
Lucid Group Inc is a blank check company in the real estate and construction sector with a market capitalization of $6.46 billion. The stock has shown a 1.5% decrease in performance, with a current price of $4.78. Market sentiment appears to be neutral, with no significant movement in either direction. However, the stock is currently trading below its moving average, indicating bearish trends. Investors should be cautious and consider potential risks associated with this stock, as past performance may not be indicative of future returns.
More about ChargePoint Holdings Inc
ChargePoint Holdings Inc provides electric vehicle (EV) charging networks and solutions in the United States. The company's stock performance has shown a decrease of 1.24% in the latest trading session, with a market sentiment of 1.526 indicating a bearish trend. The company's market cap stands at 543,634,000, with a current stock price of 3.76. As a player in the miscellaneous transportation equipment manufacturing sector, there may be potential risks associated with market uncertainties and future performance.
More about Arrival Vault USA Inc
Arrival Vault USA Inc is a company focused on the production of commercial electric vehicle vans and buses. Based in Howald, Luxembourg, the company operates in the manufacturing sector, specifically in the motor vehicles and passenger car bodies industry. Despite the potential of the electric vehicle market, the stock performance has been lackluster with a decrease of 6.69%. Market sentiment towards the company appears to be neutral, with no significant movement in the stock price and a low volatility rating of 1.5. It is important to note that past performance is not always indicative of future results, and potential risks and uncertainties should be taken into consideration when evaluating this stock.
More about Innoviz Technologies
Key Financial Metrics: Innoviz Technologies Ltd. reported a revenue of 283.6 million USD and a net income of 7.4 million USD. The company also has no debt and a positive cash flow of 753.6 million USD.
Stock Performance: The stock has experienced a slight decrease of 0.91% and is currently trading at 2.967 USD.
Market Sentiment: The market sentiment for Innoviz Technologies appears to be neutral, with the company operating in the manufacturing sector, specifically in motor vehicle parts and accessories. The development of solid-state LiDAR sensors and sensing software for autonomous vehicles indicates potential for growth, but the stock performance and financial metrics suggest some uncertainty.
More about Microvast Holdings Inc
Microvast Holdings Inc, a real estate and construction company, is currently listed as a blank check company with a market cap of 270.8 million. The stock has shown a consistent negative trend, with a decrease of 0.37 in the stock price and a Relative Strength Index (RSI) of 0.863, indicating an overbought condition. The Bollinger Bands also show a negative trend, with a value of -0.433. However, the stock has seen a trading volume of 266.839 million, with a closing price of 8.75. The market sentiment for Microvast Holdings Inc is currently bullish, with a potential breakout in the near future. However, it is important to note that past market behavior may not be a reliable indicator of future performance, and there are potential risks and uncertainties associated with this analysis.
More about Electrameccanica Vehicles Corp
Electrameccanica Vehicles Corp is a manufacturing company in the motor vehicles and passenger car bodies industry, with a market capitalization of 29703700. The stock has shown a decrease of -0.92 in the last trading session, with a 0.028 change in the price. The company has not paid any dividends recently and has a trading volume of 3395400. The stock's current price is 0.95, showing a decrease of -0.933. Overall, the market sentiment for Electrameccanica Vehicles Corp appears to be bearish, with a negative stock performance and potential risks associated with the downward trend.
More about Beam Global
Beam Global is a cleantech company that focuses on designing, developing, manufacturing, and selling renewable energy-powered products for electric vehicle (EV) charging infrastructure, outdoor media and branding, and energy security products. The company, headquartered in San Diego, California, operates in the manufacturing and semiconductors & related devices industries. With a market capitalization of $102.196 million and a current stock price of $21.17, Beam Global has shown a decrease of 1.57% in its stock performance. The company's market sentiment is currently neutral, with a Relative Strength Index (RSI) of 4.25, indicating a slightly bearish trend. It's important to note that past market behavior is not always a reliable indicator of future performance, and there are potential risks and uncertainties associated with investing in this stock.
More about Blink Charging Co
Blink Charging Co. is a company in the manufacturing sector, specifically in the power, distribution, and specialty transformers industry. With a market capitalization of $170,542,000, the company has shown a 0% change in stock performance with a current stock price of $10.18. The company reported a net income of -$3.58 million, with a revenue of $120,493,000. Despite the positive revenue, the negative net income indicates potential financial challenges. The market sentiment towards Blink Charging Co. appears to be neutral, with a lack of significant movement in stock performance and potential uncertainties in the company's financial health.
More about Cenntro Electric Group Ltd
Based on the financial data provided, Cenntro Electric Group Ltd is in the manufacturing industry, specifically in the production of motor vehicles and passenger car bodies. The stock performance shows a 4.14% decrease, with a Relative Strength Index (RSI) of 0.502, indicating a neutral sentiment. The stock volume is at 15,280,800, suggesting moderate market activity. However, it is important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with this analysis.
More about Tritium Dcfc Ltd
Based on the financial data, Tritium Dcfc Ltd has shown a decrease in stock performance with a negative change in price of -0.78. The Relative Strength Index (RSI) of 1.188 indicates a bullish sentiment, but the Bollinger Bands at -0.658 suggest a bearish trend. The company's stock is currently trading at 4.85 with a market capitalization of 184544000. The manufacturing sector and miscellaneous transportation equipment industry may be facing uncertainties, and potential risks should be considered before making any investment decisions.
More about Wallbox NV
Wallbox NV, a technology company, has a market capitalization of $320,982,000 and a trading volume of 144,394,000. The stock has a beta of -0.79 and has seen a 3.48% increase in the last trading session. The company operates in the manufacturing sector, specifically in miscellaneous transportation equipment, and is involved in creating electric vehicle charging and energy management systems. The stock performance has been relatively stable, with a current price of $0.849 and a minimal change of 0.003. Market sentiment towards Wallbox NV appears to be neutral, with potential upside risks given the increasing demand for electric vehicle infrastructure. However, there are uncertainties regarding regulatory changes and competition in the industry that could impact the company's future performance.
More about Rivian Automotive Inc
Rivian Automotive Inc is a manufacturing company in the motor vehicles and passenger car bodies industry with a market capitalization of 14.69 billion. The stock has shown a 6.02% decrease in performance, with a current price-to-earnings ratio of 4.033. The company has a negative earnings per share of -1.49 and a total revenue of 3.78 billion. The market sentiment towards Rivian Automotive Inc appears to be neutral, with a stock price of 25.44 and a Relative Strength Index (RSI) of 1.494.
More about Xpeng Inc
Based on the financial data, Xpeng Inc. is a company in the manufacturing industry, specifically in motor vehicles and passenger car bodies. The company's market cap is approximately $22.8 billion, with a stock price of $18.23. The stock has experienced a slight decrease of 0.385% and a negative change in price of -1.6. The market sentiment appears to be slightly bearish, with a decrease in stock price and market cap, indicating potential uncertainty in the market. It would be important to monitor support and resistance levels, as well as key technical indicators such as moving averages and RSI to assess potential future performance.
More about Ouster Inc
Ouster Inc. is a company that designs and manufactures digital lidar sensors for various markets including industrial automation, intelligent infrastructure, robotics, and automotive. The company is headquartered in San Francisco, California. The stock performance of Ouster Inc. has shown a decline, with a negative EPS of -11.71 and a relatively low P/E ratio of 2.225. The market sentiment towards Ouster Inc. seems to be mixed, with a market cap of 232963000 and a relatively high trading volume of 69773000. It is important to note that past performance is not always indicative of future results, and there may be potential risks or uncertainties associated with investing in Ouster Inc.
More about Workhorse Group Inc
Workhorse Group Inc is a technology company that designs, manufactures, builds, and sells aircraft and battery electric vehicles in the United States. The company operates in the manufacturing sector, specifically in motor vehicles and passenger car bodies. The company's stock performance has shown a slight decrease of -0.65, with a trading volume of 12,135,800. The stock has a current price of 190.44 and a Relative Strength Index (RSI) of 0.77, indicating a slightly overbought market sentiment. The market sentiment towards Workhorse Group Inc appears to be bullish, with a positive sentiment of 0.955. However, it's important to note that past market behavior is not always a reliable indicator of future performance, and potential risks and uncertainties should be considered in any investment decision.
More about Quantumscape Corp
QuantumScape Corporation is a development-stage company focusing on solid-state lithium metal batteries for electric vehicles and other applications. As of now, the company has not generated any revenue and has reported a net loss of $0.98 per share. The stock has shown no significant movement, currently trading at $6.02. Market sentiment towards QuantumScape is uncertain given its status as a development-stage company and the lack of revenue. Investors should proceed with caution and consider the risks associated with investing in a company at this stage of development.
More about Nio Inc Class A ADR
Nio Inc Class A ADR (NIO) is a company that designs, develops, manufactures, and sells smart electric vehicles in various countries. The company's market cap stands at $54.58 billion, with a stock price of $32.67, representing a 1.77% decrease. NIO's financials indicate a positive sentiment with a 46.6% Relative Strength Index (RSI), suggesting the stock is neither overbought nor oversold. However, the stock is trading below its 50-day moving average, indicating a bearish trend. The company's performance may be impacted by market sentiment and potential risks associated with the electric vehicle industry.
More about VinFast Auto Ltd. Ordinary Shares
Based on the financial data for VinFast Auto Ltd. Ordinary Shares, the company has a market capitalization of $12,570,719,000 and a price-to-earnings ratio of -0.99. The stock performance shows a decrease of -2.512% and a trading volume of 22,643,581,387. The market sentiment is neutral with a score of 1.593, indicating some level of optimism. However, it's important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with investing in this company.
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