EV, battery stocks gain as broader markets climb

Solid Power

26/05/2022 16:22

** Electric vehicle stocks including Tesla Inc  TSLA.O ,
Faraday Future Intelligent Electric  FFIE.O , Rivian Automotive
 RIVN.O  and Fisker Inc  FSR.N  up between 5% and 9.3%
    ** Battery makers Solid Power Inc  SLDP.O  and Quantumscape
Corp  QS.N  rise 4.9% and 6% respectively
    ** The Global X Autonomous & Electric Vehicle ETF  DRIV.O 
was up about 3.8%, while the Global X Lithium & Battery Tech ETF
 LIT.P  was up 1.7%
    ** U.S. stock indexes climbed on Thursday after data
confirmed the U.S. economy contracted in Q1, easing concerns
about aggressive interest rate hikes  .N 
    ** The tech-heavy Nasdaq Composite  .IXIC , which has lost
about 25.8% YTD, was up 1.9% in early trading
    ** EV stocks are up as the broader market is up, says Great
Hill Capital analyst Thomas Hayes, adds that selling is
exhausted for the time being
    ** There is a bigger focus on shifting to EVs in Europe,
given talk coming out of Davos and this is a tailwind for the
sector in a risk on market day - Wedbush

 (Reporting by Akash Sriram in Bengaluru)
 ((Akash.Sriram@thomsonreuters.com; https://twitter.com/hoodieonveshti;))