RIDE - Electric vehicle stocks gain with green funding hopes still in play

Electric vehicle stocks are gaining on renewed hope that incentives for EVs will still be included in legislation from Washington. The Green Tidal Wave hopes of the early part of 2021 have been beaten back quite a bit, but elements of the thesis are expected to survive whatever economic plan is ultimately passed in DC. Gainers include Niu Technologies (NIU +6.1%), Workhorse Group (WKHS +5.8%), Ayro (AYRO +4.4%), Lordstown Motors (RIDE +5.1%), Hyliion Holdings (HYLN +4.5%), GreenPower Motor Company (GP +5.3%), Arrival (ARVL +3.9%), Rivian (RIVN +4.3%) and TuSimple (TSP +3.0%). Chinese EV stocks are also on the rise with solid gains for Li Auto (LI +3.2%), Nio (NIO +3.9%) and XPeng (XPEV +8.1%). Boosting sentiment today, China EV registrations were reported to have jumped 24% month-over-month in November and Geely (OTCPK:GELYF) and Renault (OTC:RNSDF) are reported to be looking to jointly produce hybrid vehicles in South Korea and possibly export

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Electric vehicle stocks gain with green funding hopes still in play