RKLB - Rocket Lab swaps top industrial gainer tag for loser while Lion Electric drives to #1 spot
It is a mixed road ahead for Industrials according to Morgan Stanley, which is taking a Neutral stance on the sector - Equal Weight, as "peak rate of change and weakening earnings present near term issues" - but against the positive long-term backdrop of the potential infrastructure bill, and a robust cycle in capital expenditures. This week’s top gainer and loser were impacted by outside recommendations. While Lion Electric soared after CIBC called out first mover advantage, Rocket Lab felt the pinch after a sell recommendation by Barron’s. Industrial Select Sector SPDR (NYSEARCA:XLI) declined -0.99% for the week ending Sept. 17 but YTD is +14.52. SPDR S&P 500 Trust ETF (NYSEARCA:SPY) finished the week in the red -0.40% but YTD is +19.60%. The top five gainers in the industrial sector (stocks with a market cap of over $2B): The Lion Electric Company (NYSE:LEV) +13.85%. The electric vehicle maker has been gaining since the start of the week with
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Rocket Lab swaps top industrial gainer tag for loser while Lion Electric drives to #1 spot