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2022-05-14

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Tesla, Rivian, and More EV Stocks to Check Out After a Wild Trading Week

This might have been the wildest week ever for trading EV stocks. As the dust settles—if it ever doe

Tesla, Rivian, and More EV Stocks to Check Out After a Wild Trading Week

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As the dust settles—if it ever doe","content":"<html><head></head><body><p>This might have been the wildest week ever for trading EV stocks. As the dust settles—if it ever does—investors have a chance to look for some good stocks trading at a discount.</p><p>The week started out with first-quarter earnings from <a href=\"https://laohu8.com/S/RIDE\">Lordstown Motors</a>. The company revealed on Monday that its asset purchase agreement with Foxconn, wasn’t complete. That created a potential cash crunch for the company—management indicated on a conference call the company didn’t have enough capital to reach production of its electric truck called <a href=\"https://laohu8.com/S/EIGI\">Endurance</a>.</p><p>Shares fell about 21% in the aftermath of the call, before jumping 47% Thursday after the deal with Foxconn was signed. Coming into Friday trading, Lordstown stock is up about 30 cents, or 16%, for the week.</p><p><a href=\"https://laohu8.com/S/RIVN\">Rivian Automotive</a> stock also tanked on Monday, the day the prohibition of insider sales—following the company’s November initial public offering—ended. Shares dropped 21% on Monday, as <a href=\"https://laohu8.com/S/F\">Ford</a> Motor, an early investor, unloaded about 8% of its stake in the electric truck start-up.</p><p>Things got so bad that Rivian’s enterprise value—which is essentially its market capitalization less its cash on hand—was nearing $0 at points on Wednesday. Then, the shares jumped 18% Thursday after the company reported earnings Wednesday evening. The company’s first-quarter cash burn was better than Wall Street projected. Coming into Friday trading, shares are still down about 16% for the week.</p><p>Next were the first-quarter results from Canoo (GOEV) on Wednesday. The EV start-up added “going concern” language to its quarterly filing. That indicates something significant needs to change for the company to continue operations—in other words, Canoo needs more capital, too. Shares fell about 38% Wednesday.</p><p>“As operators and investors, we have significant experience raising capital in challenging markets ,” said CEO Tony Aquila in the company’s news release. “We will continue to raise when needed, bridge to milestones and be in a position to take advantage of improving market conditions.” Canoo added in a subsequent emailed statement that it has access to capital and plans to access capital judiciously.</p><p>Then came Friday the 13th. <a href=\"https://laohu8.com/S/TSLA\">Tesla</a> CEO Elon Musk tweeted that his purchase of <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> (TWTR) was on old hold, pending an analysis of how many bots and spam accounts make up of Twitter’s daily active usage. Tesla shares jumped more than 5% in premarket trading Friday as Twitter shares plunged more than 15%.</p><p>As all that has unfolded, <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO</a> and <a href=\"https://laohu8.com/S/XPEV\">XPeng</a> shares are down about 8% for the week, despite Li’s better-than-expected first-quarter results.</p><p><a href=\"https://laohu8.com/S/WFC\">Wells Fargo</a> got into the act too, highlighting broad concerns about the sector. In Thursday research reports running to more than 100 pages, the broker said that all EV makers are facing headwinds for years.</p><p>The brokerage expects the prices of metals going into EV batteries to remain elevated through 2030, which will squeeze profit margins at EV makers. Analyst Colin Langan double-downgraded Ford and <a href=\"https://laohu8.com/S/GM\">General Motors</a> (GM) stocks to Sell all the way from Buy, and cut his price targets for both by roughly 50%.</p><p>Langan also cut his <a href=\"https://laohu8.com/S/TSLA\">Tesla</a> price target to $900 from $960. He rates that stock Hold.</p><p>His bearish call represents the extreme end of worries about the sector’s supply-chain issues. Wells Fargo still expects EVs to account for about 40% of global light vehicle sales by the end of the decade.</p><p>Shares of Ford and GM stocks dropped about 3% and 5%, respectively, on Thursday, in the aftermath of the downgrade. Now the question is which stocks are an opportunity, and which ones should investors avoid.</p><p>Looking ahead, Rivian stock looks like an opportunity for investors with an iron constitution. Coming into Friday trading, its enterprise value—essentially market capitalization less cash—is about $5 billion. Lucid’s is $21 billion. Both companies have a manufacturing plant and are delivering EVs. But Rivian has about three times the amount of cash <a href=\"https://laohu8.com/S/LCID\">Lucid </a> does. The gap looks like an anomaly.</p><p>If investors can get comfortable with the delisting risk swirling around U.S.-listed Chines EV stocks, NIO, XPeng, and Li are still adored by analysts. More than 90% of analysts covering each stock rates shares Buy. The average Buy-rating ratio for stocks in the S&amp;P 500 is about 58, and the average analyst target price implies a gain of roughly 150%. (The three stocks are down more than 50% year to date on average.)</p><p>GM, meanwhile, looks like the best bet for value investors looking at traditional auto stocks. Despite the Wells Fargo pan, more than 80% of analysts covering the stock rate it Buy. Less than half of the analysts covering Ford rate shares Buy.</p><p>As for Tesla, it’s still the world’s most valuable car company and the leader in EVs. Less than half the analysts covering that stock rate shares Buy. But investors at least might want to keep a “market weight” position in Tesla, which represents 2.2% of the S&amp;P 500. 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As the dust settles—if it ever does—investors have a chance to look for some good stocks trading at a discount.The week started out ...</p>\n\n<a href=\"https://www.marketwatch.com/articles/tesla-rivian-lordstown-ev-stocks-51652453828?mod=newsviewer_click\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIVN":"Rivian Automotive, Inc.","TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/articles/tesla-rivian-lordstown-ev-stocks-51652453828?mod=newsviewer_click","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197954611","content_text":"This might have been the wildest week ever for trading EV stocks. As the dust settles—if it ever does—investors have a chance to look for some good stocks trading at a discount.The week started out with first-quarter earnings from Lordstown Motors. The company revealed on Monday that its asset purchase agreement with Foxconn, wasn’t complete. That created a potential cash crunch for the company—management indicated on a conference call the company didn’t have enough capital to reach production of its electric truck called Endurance.Shares fell about 21% in the aftermath of the call, before jumping 47% Thursday after the deal with Foxconn was signed. Coming into Friday trading, Lordstown stock is up about 30 cents, or 16%, for the week.Rivian Automotive stock also tanked on Monday, the day the prohibition of insider sales—following the company’s November initial public offering—ended. Shares dropped 21% on Monday, as Ford Motor, an early investor, unloaded about 8% of its stake in the electric truck start-up.Things got so bad that Rivian’s enterprise value—which is essentially its market capitalization less its cash on hand—was nearing $0 at points on Wednesday. Then, the shares jumped 18% Thursday after the company reported earnings Wednesday evening. The company’s first-quarter cash burn was better than Wall Street projected. Coming into Friday trading, shares are still down about 16% for the week.Next were the first-quarter results from Canoo (GOEV) on Wednesday. The EV start-up added “going concern” language to its quarterly filing. That indicates something significant needs to change for the company to continue operations—in other words, Canoo needs more capital, too. Shares fell about 38% Wednesday.“As operators and investors, we have significant experience raising capital in challenging markets ,” said CEO Tony Aquila in the company’s news release. “We will continue to raise when needed, bridge to milestones and be in a position to take advantage of improving market conditions.” Canoo added in a subsequent emailed statement that it has access to capital and plans to access capital judiciously.Then came Friday the 13th. Tesla CEO Elon Musk tweeted that his purchase of Twitter (TWTR) was on old hold, pending an analysis of how many bots and spam accounts make up of Twitter’s daily active usage. Tesla shares jumped more than 5% in premarket trading Friday as Twitter shares plunged more than 15%.As all that has unfolded, Li Auto, NIO and XPeng shares are down about 8% for the week, despite Li’s better-than-expected first-quarter results.Wells Fargo got into the act too, highlighting broad concerns about the sector. In Thursday research reports running to more than 100 pages, the broker said that all EV makers are facing headwinds for years.The brokerage expects the prices of metals going into EV batteries to remain elevated through 2030, which will squeeze profit margins at EV makers. Analyst Colin Langan double-downgraded Ford and General Motors (GM) stocks to Sell all the way from Buy, and cut his price targets for both by roughly 50%.Langan also cut his Tesla price target to $900 from $960. He rates that stock Hold.His bearish call represents the extreme end of worries about the sector’s supply-chain issues. Wells Fargo still expects EVs to account for about 40% of global light vehicle sales by the end of the decade.Shares of Ford and GM stocks dropped about 3% and 5%, respectively, on Thursday, in the aftermath of the downgrade. Now the question is which stocks are an opportunity, and which ones should investors avoid.Looking ahead, Rivian stock looks like an opportunity for investors with an iron constitution. Coming into Friday trading, its enterprise value—essentially market capitalization less cash—is about $5 billion. Lucid’s is $21 billion. Both companies have a manufacturing plant and are delivering EVs. But Rivian has about three times the amount of cash Lucid  does. The gap looks like an anomaly.If investors can get comfortable with the delisting risk swirling around U.S.-listed Chines EV stocks, NIO, XPeng, and Li are still adored by analysts. More than 90% of analysts covering each stock rates shares Buy. The average Buy-rating ratio for stocks in the S&P 500 is about 58, and the average analyst target price implies a gain of roughly 150%. (The three stocks are down more than 50% year to date on average.)GM, meanwhile, looks like the best bet for value investors looking at traditional auto stocks. Despite the Wells Fargo pan, more than 80% of analysts covering the stock rate it Buy. Less than half of the analysts covering Ford rate shares Buy.As for Tesla, it’s still the world’s most valuable car company and the leader in EVs. Less than half the analysts covering that stock rate shares Buy. But investors at least might want to keep a “market weight” position in Tesla, which represents 2.2% of the S&P 500. Otherwise they’d miss out on all the excitement.","news_type":1},"isVote":1,"tweetType":1,"viewCount":276,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}