QS - Why Auto Stocks Popped (And Then Dropped) This Week
2023-07-15 05:10:00 ET
The auto market has had a wild week as investors poured into, and then out of, EV stocks and high-risk names.
The three notable moves were Quantumscape (NYSE: QS) , Carvana (NYSE: CVNA) , and Fisker (NYSE: FSR) , which all jumped double digits at some point this week. According to data provided by S&P Global Market Intelligence , Quantumscape was up as much as 18% this week, Carvana popped 40.2%, and Fisker rose 12.5%.
But the highs didn't stick for these stocks. At 2:00 p.m. ET, shares of the companies were up 11.2%, 26.6%, and 1.3% respectively for the week on Friday afternoon.
For further details see:
Why Auto Stocks Popped (And Then Dropped) This Week