EV Shares Gained; Lucid Rises 16%; Rivian Jumps 6%-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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EV Shares Gained; Lucid Rises 16%; Rivian Jumps 6%

Tiger Newspress07-12

EV shares gained in morning trading.

Lucid rose over 16%; Rivian rose 6%; Faraday Future rose 5%; XPeng rose 4%; Nio rose 3%; Tesla rose 2%; Li Auto rose 1%.

Shares of Lucid Group Inc Are Trading Higher. The Stock May Be up on Continued Strength After the Company's CEO Recently Said the Co. Will Need to Raise More Money to Grow, Stating Saudi's PIF Is a 'Perfect' Long-term Partner on EVs.

On Friday, Rivian Automotive, Inc. shares saw an increase in its price target from $11.00 to $15.00 by Mizuho, while the firm kept a Neutral stance on the electric vehicle manufacturer.

The price target revision reflects a more optimistic view of Rivian's financial health, with a stronger balance sheet and reduced liquidity risk, despite ongoing demand headwinds. Mizuho's revised outlook also takes into account the potential challenges in the U.S. electric vehicle market, projecting a softer demand in the second half of 2024 and into 2025.

Rivian's roadmap includes the introduction of its lower-cost R2 model in the first half of 2026. The company's strategic moves, such as the recent up to $5 billion investment from Volkswagen, are seen as key factors in supporting its long-term growth and addressing upcoming market challenges. The firm's analysis indicates a guarded but cautiously positive outlook on Rivian's future performance in the electric vehicle sector.

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