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Tesla stock (TSLA) soared to a record high yesterday. A credit rating upgrade might have aided the price action but it’s the euphoria over the company joining the S&P 500 that’s leading to the rally. S&P Global has raised Tesla’s credit rating to BB. While the rating is still speculative, it is one notch below…
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Tesla is halting the production for its Model S and X a leaked internal email showed. It is also going for a year-end push to boost the sales of its Model 3 and Model Y. Tesla expects to sell half a million cars this year. The company maintained its original 2020 guidance despite its production…
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NIO stock was trading sharply lower in early trading today after the company announced an ADS (American Depository Shares) issue, its third for the year. Over the last week, other electric vehicle producers have also announced share issuance. While NIO stock has come off its recent highs, it is still up over 1,000% for the…
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The US House of Representatives has passed a law that could lead to the delisting of Chinese companies. The law would come into force once it is signed by President Trump. “The Holding Foreign Companies Accountable Act” entails delisting of foreign companies if they don’t comply with the US Public Accounting Oversight Board’s audits for…
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While electric vehicle stocks have been red hot in 2020, there has been some selling pressure recently. Workhorse stock is falling sharply in the US premarket today after the USPS (United States Postal Service) said that it is delaying a major contract in which Workhorse was a major contender. The USPS was expected to announce…
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We’re now approaching the end of 2020 which has been a volatile year for US stock markets. After plunging in February and March, US markets have not only recovered but scaled new highs. Now, Barclays has come up with the stocks that it forecasts could deliver higher returns in 2021. US stock markets in 2020…
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Startup electric vehicle company Fisker surged almost 37% yesterday becoming the latest stock to join the rally in electric vehicle stocks. Fisker listed on October 30 this year and began trading at just under $9. Based on yesterday’s closing price of $21.86, Fisker stock has more than doubled since its listing. Electric vehicle stocks Fisker…
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Renewable energy stocks have been on a fire this year. Yesterday, FuelCell Energy (FCEL) stock soared over 54% and opened higher today also. To be sure, the rise is not limited to FuelCell Energy only. Tesla soared 6.5% yesterday to a new record high. Tesla stock is up sharply this month after the news that…
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Global markets are cautiously higher this morning after the release of more positive data on the vaccine front while US treasury yields are ticking higher as a risk-on attitude from investors persists. China’s Shanghai Composite Index appears to be leading the rally as the Asian benchmark advanced 1.1% at 3,414, followed by Singapore’s Straits Time…
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NIO stock was trading lower in pre markets today even as the company posted better than expected third quarter earnings and gave better than expected guidance. NIO has been probably the biggest turnaround story of 2020. In the first quarter, many analysts predicted that the company was headed for bankruptcy. The fears were not unfounded….
