@Omega88:Buying EV stocks is like having a roller-coaster ride! Most of the EV companies remain unprofitable and yet they are still burning more cash to build up on their infrastructure and expansion. A recent example is NIO trying yo raise US$3 billion from its investors. Furthermore, the ongoing price war is likely to hurt their profit margin even further and they are likely to remain unprofitable in the near future. Like most new industries, eventually only a few companies would emerge victorious! A few EV companies (Lordstown Motors, Proterra) have declared bankruptcy recently and I'm sure there's more to come. Unlike Tesla, most EV companies clearly have issues scaling up their production significantly. The competition in the EV market has intensified as numerous traditional car markers (Merc
@Elliottwave_Forecast:SPY Likely to Extend Correction in Double Three Structure August 22, 2023 By EWFHendra Short Term Elliott Wave view in S&P 500 ETF (SPY) suggests the decline from 7.27.2023 high is in progress as a double three Elliott Wave structure. Down from 7.27.2023 high, wave ((a)) ended at 444.96 and rally in wave ((b)) ended at 451.7. The ETF then extended lower in wave ((c)). Down from wave ((b)), wave (i) ended at 443.35 and rally in wave (ii) ended at 448.92. The ETF extended lower again in wave (iii) towards 433.93 and wave (iv) rally ended at 436.77. Final leg wave (v) lower ended at 433.05 which completed wave ((c)) of W. Wave X rally is now in progress to correct cycle from 7.27.2023 high before the next leg lower. Up from wave W, wave i ended at 436.55 and wave ii ended at 434.38. Wave