Futures are green today. Stocks are putting on some nice pre-market gains this morning on the last day of trading for the holiday weekend.
July payroll numbers are out this morning, which will bring more clarity to the impact of coronavirus. Weekly jobless claims are also out today, and are expected to be huge, but markets have taken jobless claims numbers in stride throughout the recovery period.
Over the past couple of weeks we have mentioned quite a few ways to invest in the Electric Vehicle industry. If you’ve been trading along with us, it’s easy to see why.
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On Sunday we sent out our EV Watchlist, highlighting Workhorse (WKHS), which is up more than 50% since Monday. BMW was also highlighted and is up from $55.64 to $58.10. We featured Tortoise Acquisition earlier this week, today it’s up 12% in the pre-market.
The enthusiasm surrounding the EV revolution is astounding, and rightfully so. It wasn’t that long ago that Tesla’s value was in question, today it is the most valuable car manufacturer.
TSLA investors are celebrating today as the company announced higher than expected deliveries in Q2. TSLA is undoubtedly a great stock to own as the pioneer EV stock, anyone who’s been holding since the early days will tell you. Some investors are wary to enter at TSLA’s current price. We like to seek out fresh opportunities elsewhere in EV stocks.
Tesla paved the way for smaller companies, newcomers to the scene who are in early development, bringing sublime opportunities to invest in innovation and growth. Today we are highlighting one EV up and comer with insane growth potential.
Tesla isn’t the only EV company announcing impressive deliveries this week. Nio (NIO) reported deliveries grew 190% year over year in Q2 to 10,331 vehicles, exceeding quarterly guidance. In June the company delivered 2,476 ES6’s and 1,264 ES8.
Nio is delivering and investors are taking notice. NIO’s share price climbed over 60% in June. Last quarters deliveries are an indicator that the company will be progressing with strength from here.