NKLA - EV Stocks Roar Back to Life This Week
2024-07-12 16:29:00 ET
Electric vehicle (EV) stocks have come bouncing back to life this week, following a rough week for most of the industry to start July. This week, it was both a rising market and falling interest rates that had investors excited about the market.
According to data provided by S&P Global Market Intelligence , shares of Rivian (NASDAQ: RIVN) rose as much as 22.1% this week; Nikola (NASDAQ: NKLA) jumped 12.6%; and charging company Blink Charging (NASDAQ: BLNK) was up 10.6% at its peak. At noon EDT on Friday, the stocks were up 21.6%, 12%, and 18.5%, respectively.
Most of the industry's delivery news came out last week, and it wasn't all that inspiring when paired with the bankruptcy of Fisker. A shutdown at Rivian's plant has impacted production so far this year, and even Tesla's (NASDAQ: TSLA) deliveries fell 5% from a year ago.
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EV Stocks Roar Back to Life This Week