Late last week Stellantist (STLA) announced its plans to change things up from a management perspective. After a few consecutive periods of bleeding profits and lowering production, it was time to breathe fresh life into the company. Now, the company’s current CEO of Jeep - Antonio Filosa - will step in as COO of [...]
Shares of Stellantis NV (STLA) are down 11% in the past week as the Netherlands-based automaker was forced to lower its full-year forecast as costs are climbing while production is falling. The company was originally expecting to deliver a double-digit profit percentage for the fiscal year, but now, the profit guidance has been brought [...]
Rivian (RIVN) announced that it has been forced to pause production of the electric vehicle fleet it manufactures for Amazon as it’s having supply chain challenges. Shares have fallen 8% in the last week on the news. This has been an ongoing issue since the start of the month as the company’s Normal, Illinois [...]
Shares of Nvidia (NVDA) fell as much as 5.6% Thursday after a strong rally sent it on its way to setting a new record high. The stock had climbed more than 6% before all those gains washed away yesterday. The fall-off could be attributed to the latest inflation figures weighing the stock down - [...]
The first quarter of 2024 was brutal for Tesla (TSLA). The company had nothing but bad news to report - from price cuts to layoffs to recalls. But, TSLA investors finally have something to be excited about. The EV manufacturer teased its Q2 results yesterday, which are set to be fully disclosed on July [...]
All eyes are on Volkswagen and Rivian right now, as just last week the two automakers teamed up to create an EV-focused joint venture. Volkswagen will gain access to Rivian’s EV technology and a heap of Rivian stock (RIVN) in exchange for up to a $5 billion investment. Shares of RIVN are up 30% [...]
Shares of Nvidia Corp. (NVDA) are up slightly in Wednesday morning trading as Elon Musk spoke to Tesla about relying on the company’s chips for its electric vehicles. Musk plans on ordering between $3 billion to $4 billion worth of chips throughout this year for Tesla, which will make up nearly two-thirds of the [...]
Xpeng Inc. (XPEV) got a solid lift Tuesday morning after the Chinese EV maker delivered first-quarter results well above expectations despite challenges in the industry itself. Sales came in at $907 million compared to just $573 million this time last year. Wall Street was expecting $859 million. The company did report a loss of [...]
The beginning of quarter 2 feels like April Fools keeps going with the markets under pressure due to the Fed’s hesitancy to cut rates, global strife continuing, and Tesla’s (TSLA) poor deliveries dragging the market down. Although delayed rate cuts are disappointing, seeing one of the magnificent 7 continue to plummet hurts like more [...]
Chinese EV manufacturer XPeng Inc. (XPEV) posted impressive Q4 earnings that beat the top and bottom line, initially sending shares higher Tuesday morning. They’ve since cooled off and settled around even on the day. The company grew revenue by a whopping 154% to RMB13.05 billion ($1.84 billion). This easily outpaced the FactSet consensus of [...]
