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.