Looking For A Pure-Play Nickel ETF? Sprotts' NIKL Fund Holds 28 Miners, Including One Supplier To Tesla, GM
Portfolio Pulse from Melanie Schaffer
Sprott Nickel Miners ETF (NASDAQ:NIKL) tracks 28 nickel mining companies and is the only pure-play ETF focusing on nickel miners. The three largest holdings within NIKL are Nickel Industries Ltd, Vale SA (NYSE:VALE), and IGO Ltd. Vale, which supplies nickel to Tesla, Inc (NASDAQ:TSLA) and General Motors Company (NYSE:GM), plans to sell a 10% stake in its base metals business. NIKL was dropping about 1.4% on Thursday, continuing in a downtrend that began after the ETF reached an all-time high of $23.19 on July 13.
July 27, 2023 | 5:04 pm
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NEGATIVE IMPACT
Sprott Nickel Miners ETF (NASDAQ:NIKL) is experiencing a downtrend, dropping about 1.4% on Thursday. The ETF tracks 28 nickel mining companies and is the only pure-play ETF focusing on nickel miners.
The ETF is experiencing a downtrend, which could negatively impact its short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
General Motors Company (NYSE:GM) receives nickel supply from Vale SA.
The news about Vale, a supplier to GM, could have a neutral impact on GM's short-term price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Tesla, Inc (NASDAQ:TSLA) receives nickel supply from Vale SA.
The news about Vale, a supplier to Tesla, could have a neutral impact on Tesla's short-term price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Vale SA (NYSE:VALE), which supplies nickel to Tesla, Inc and General Motors Company, plans to sell a 10% stake in its base metals business.
The sale of a 10% stake in its base metals business could have a neutral impact on Vale's short-term price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80