WBX - EV jolts: Big gains for Fisker and Lucid while Tesla goes in reverse again

2023-04-26 11:08:52 ET

Fisker ( NYSE: FSR ) was the leading gainer in the electric vehicle sector with a 25.05% pop in early Wednesday trading following news that its vehicles will start to be delivered in Europe on May 5. Launch markets for Fisker ( FSR ) in Europe include Austria, Denmark, France, Germany, Norway, Sweden, and the United Kingdom.

The consensus expectation is that Fisker ( FSR ) will deliver about 23K vehicles in 2023 with Europe, China, and the U.S. all expected to contribute to the overall tally.

Lucid Group ( LCID ) also outperformed on Wednesday with a 11.40% jump as of 11:05 a.m. The company has its electric vehicles out on the roads in various parts of the U.S. for testing.

Other EV gainers included QuantumScape ( QS ) +2.85% just ahead of the company's earnings report, XPeng ( XPEV ) +3.39% , and Li Auto ( LI ) +2.45% . Those gains came with a slight swing in investor sentiment to risk-on again after strong earnings reports arrived from the tech sector on Tuesday.

The losing side of the EV ledger showed losses for Wallbox ( WBX ) -10.55% , Sono Group ( SEV ) -6.55% , and Tesla ( TSLA ) -2.99% following a downgrade from Jefferies.

More on the electric vehicle sector:

• Tesla fallout: Will Detroit automakers slow down aggressive EV plans?
• Read more about Fisker's approval in Europe .
• Ford Vs. General Motors: EV Marathon
• Dig into the Seeking Alpha Quant Rating across the auto sector

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