manufacturing
Faraday Future (FFIE) stock went parabolic on Thursday in a high-volume environment, making it one of the best-performing companies in Wall Street. It jumped by over 125%, pushing its market cap to over $100 million, according to Yahoo Finance. Why FFIE stock soaredFaraday Future shares jumped to a high of $8.10, its highest level in over three weeks. This rebound happened as its total volume jumped to over 123 million, higher than the average 3.1 million. It also happened on the same day that Tesla shares dropped by over 4%. In most cases, EV companies tend to track Tesla’s performance. The r...
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Peloton Interactive Inc (NASDAQ: PTON) jumped 10% in premarket on Thursday after coming in ahead of Street estimates for its fiscal fourth quarter, indicating that the embattled connected fitness company may finally be starting to get hold of its long-standing struggles under the interim CEO. The exercise equipment maker reported 8 cents of per-share loss on $643.6 million in revenue for Q4. Analysts, in comparison, were at 17 cents a share and $628.47 million, respectively. The topline, however, remained roughly unchanged on a year-over-year basis. Financial distress has weighed significantly...
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The Tata Steel share price is stuck in a correction phase after falling by over 15% from its highest point this year. It was trading at ₹153.85 on Thursday, up by about 8% from its lowest point this month. Tata Steel stock has done better than rivalsSteel stocks are not doing well this year as the industry goes through a major challenge. As shown above, only Tata Steel stock has risen this year, with the others like ArcelorMittal, JFE Holdings, Nucor, and Posco Holdings being in the red. This trend is happening as signs emerge that the global economy is slowing. China, the second-biggest econo...
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Harley-Davidson (NYSE: HOG), the storied American motorcycle manufacturer, has recently faced intense scrutiny over its diversity, equity, and inclusion (DEI) policies. The company’s decision to reevaluate these policies comes in response to significant backlash from activist filmmaker Robby Starbuck and other critics, who argue that the company’s DEI stance alienates its core customer base. The pressure on Harley-Davidson intensified after Starbuck accused the company of pushing a ‘woke’ agenda that, in his view, did not align with the values of its traditional customer demographic. This crit...
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Ford Motor Co. (NYSE: F) is making strategic adjustments in its electric vehicle (EV) plans, leading to a positive reaction from investors. On Wednesday, the automaker announced the cancellation of its planned three-row electric SUV launch and the delay of a new EV factory in Tennessee. These changes reflect a broader trend in the automotive industry, where slower-than-expected EV adoption has prompted companies to reassess their strategies. Adoption of EVs: A problem?Ford’s decision to scale back on its EV ambitions comes as the adoption of electric vehicles has lagged behind expectations. Co...
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Nio (NYSE: NIO) stock price will be in the spotlight this week as the Chinese electric vehicle giant publishes its financial results. These are important numbers because its stock has remained in a tight range in the past few months and has crashed by over 95% from its highest point this year. EV earnings have disappointedThe ongoing earnings season has confirmed that the fear that the global electric vehicle industry is going through major headwinds. Tesla, the biggest EV company in the world, reported quarterly sales of over $25 billion, an increase from $24.9 billion in the same period in 2...
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2024 has not been a good year for Chinese electric vehicle (EV) stocks even as most of them continued to ramp up their production and deliveries. Xpeng (NASDAQ: XPEV) stock has retreated by over 52% this year while Nio (NIO), Li Auto (LI), Zeekr (ZK), and Lotus Technology (LOT) have slipped by over 45% this year. The same has happened in the past three years, with Nio and Xpeng falling by 89% and 81.50%, respectively. As a result, these companies have erased billions of dollars in value as risks about their future rise. Xpeng will be in the spotlight next week as the company is set to publish ...
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Rivian Automotive Inc. (NASDAQ: RIVN) has temporarily suspended the production of its electric delivery vans (EDVs) for Amazon, citing a parts shortage as the cause. This move highlights ongoing supply chain challenges that have plagued the electric vehicle (EV) industry, including Rivian, in recent years. The production halt has raised concerns among investors, contributing to a significant drop in Rivian’s stock price, which is now down more than 25% from its mid-July high. When will Rivian resume production of EDV?Rivian did not specify which part is in short supply or identify the supplier...
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Mazagon Dock Shipbuilders, the Indian state-owned war-ship building company has been at the forefront of the rally being witnessed by most Indian defence stocks collectively. After its impressive earnings on Wednesday which saw the company more than doubling its profit since last year, analysts believe the stock will remain turbo-charged and have placed renewed bets on it. This comes after the stock has shown some correction from its peak, allaying concerns of being overvalued. The stock remains relatively overvalued though. Also, while there have been concerns earlier of the stock being overb...
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VinFast (VFS) stock price has remained in a tight range since October last year as concerns about the Vietnamese company continued. In this period, the stock has remained between the key support at $2.10 and the resistance point at $9. It is down by over 90% from its all-time high, giving it a market cap of over $9 billion. Risky EV betOn Tuesday, we wrote about Mullen Automotive, an American electric vehicle company that seems to be destined to run out of money and file for bankruptcy soon. Mullen joins other companies like Lordstown Motors and Fisker that have run out of money. Others like C...
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