It is another day of wild swings in the electric vehicle sector with hopes for a compromise deal between Ukraine and Russia helping to lift sentiment.
Some of the biggest gainers in the electric vehicle sector include Volta Inc. (VLTA +12.7%), Canoo (GOEV +14.0%), Li Auto (LI +14.2%), Nio (NIO +13.6%), Tritium DCFC (DCFC +4.8%), ChargePoint Holdings (CHPT +5.6%), Volcon (VLCN +15.2%), Aeva Technologies (AEVA +12.2%), XPeng (XPEV +11.5%), Arrival (ARVL +11.8%), Lordstown Motors (RIDE +10.4%), Embark Technology (EMBK +7.5%), Ouster (OUST +6.5%) and Rivian Automotive (RIVN +6.2%).
Traders are facing an almost daily battle of weighing the impact of higher interest rates, commodity inflation and supply chain disruption against a global electrification push that is accelerating.
Tesla (NASDAQ:TSLA) rose 3.41% and is roughly back to where it stood a week ago. Today in Teslaworld, the electric vehicle giant is defending itself in regard to criticism from several U.S. Senators. It is also now just a little over three weeks until Tesla (TSLA) will report Q1 deliveries and production tallies, which could redirect focus on the company’s production ramp.
Tesla (TSLA) is still the stock with the highest overall Seeking Alpha Quant Rating.