As of 13:10 PM EST, EV stocks are all trading with the U.S. Automaker Rivian (+3.86) leading the gains followed by Nio (+2.80%). The Chinese EV maker, Lucid Motors and Tesla are the most traded EV stocks so far.
- Tesla is trading at $924.23, +1.86% higher from yesterday’s close.
- Morgan Stanley analyst Adam Jonas has released a new $TSLA report: Tesla Underground: The Boring Company & the ‘Muskonomy’ “While we identified a list of 26 ‘potentially exposed’ names… if we had to pick just one publicly name to own today on the theme, it’d be Tesla.”
- Tesla said on Monday it received a subpoena from the U.S. securities regulator in November related to the SEC settlement that required top boss Elon Musk’s tweets on material information to be vetted, Reuters reported. Elon Musk’s company recorded around $101 million of impairment losses from changes in the value of their bitcoin holdings last year.
- Shares of the Chinese EV maker Nio Inc. are trading +2.80% higher aiming $25.22, the pivot point hit on January 24th — the 2 week high.
- Barclays Analyst Jiong Shao initiated today coverage on Nio shares in a report released. The brokerage set an “overweight” rating and a $34.00 price target on the stock. Barclays‘s target price indicates a potential upside of 41.73% from the company’s current price.
- Nio ET7 Model started today being delivered to Nio’s showrooms in China ahead of the deliveries starting on March 28th.
- Shares of Xpeng are currenlty flat after CEO He Xiaopeng sold $1.6B in shares according to SEC’s report.
- He Xiaopeng, Xpeng’s CEO, has filed an SC 13G/A form disclosing ownership of 348,708,257 shares of XPeng Inc. American depositary shares, each representing two Class A ordinary shares. This represents 21.1% ownership of the company. In their previous filing dated 2021-02-10 , He Xiaopeng had reported owning 391,752,537 shares, indicating a decrease of -10.99%.
- Last week, Swedish enthusiasts of the Chinese EV maker Xpeng, shared on Reddit photos of the new showroom in Sweden, the second European Market after entering Norway in late 2020 with the SUV G3 Model. Located in the Westfield Mall of Scandinavia (Stockholm), the new showroom is part of the automaker plans to enter Sweden, Denmark and the Netherlands during this year extending its European presence up to 4 countries.
- After hitting their lowest point since September following Morgan Stanley’s downgrade of the company’s stock to equal weight from overweight, shares of GM are now trading around $49.00 level.
- Morgan Stanley lowered its price target on GM’s stock to $55 from $75. GM’s 2022 guidance coming in “well below” Morgan Stanley’s forecast on top of concerns over the pace of the automaker’s EV transition.
- Rivian shares are currently up 3.86% being traded back above $60 level.
- Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Rivian Automotive ( Research Report) on January 12 and set a price target of $145.00.
- Recently, Rivian said it expects to soon be delivering as many as 200 electric R1T pickup trucks per week – quadrupling its production rate from where it was some weeks ago, and putting it on track to surpass 10,000 pickups manufactured this year.
- Lucid shares are trading +1.56% higher at $27.39 with 14M of volume, the second on the EV list after Nio
- Lucid chairman told Bloomberg News that the EV maker is in talks with the kingdom to build a factory there by 2025 or 2026. “Now that we are successfully producing and selling cars in the U.S., our attention is turning to this factory here,” Lucid Chairman Andrew Liveris told Bloomberg Television at a mining conference in Riyadh. Specifics being worked out include ownership percentages for Lucid and partners on the project.