Tesla Persists With Price Cuts After Underwhelming Q3 Sales, Rivian's $1.5B Debt Offering Sinks Stock, Lucid's Gamble With Cheaper Trim And More: Biggest EV Stories Of The Week
Portfolio Pulse from Shanthi Rexaline
The week ending Oct. 6 saw a downturn in electric vehicle (EV) stocks, with Tesla reporting lower than expected Q3 deliveries but affirming its full-year goal. Tesla also announced price cuts for its Model Y and Model 3 EVs. Rivian's stock fell by 23% following its announcement of a $1.5 billion green note offering. Lucid launched a cheaper version of its Air sedan. Ford reported higher Q3 EV sales than General Motors. Faraday Future announced plans to deliver another premium EV. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.
October 07, 2023 | 2:56 pm
News sentiment analysis
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NEGATIVE IMPACT
Rivian's stock fell by 23% following its announcement of a $1.5 billion green note offering.
The announcement of the green note offering led to a significant drop in Rivian's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tesla reported lower than expected Q3 deliveries and announced price cuts for its Model Y and Model 3 EVs.
The lower than expected Q3 deliveries and price cuts could negatively impact Tesla's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Faraday Future announced plans to deliver another premium EV.
The announcement of a new premium EV could potentially boost sales, but it's unclear how this will impact Faraday Future's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
Lucid launched a cheaper version of its Air sedan.
The launch of a cheaper version of the Air sedan could potentially boost sales, but it's unclear how this will impact Lucid's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
Ford reported higher Q3 EV sales than General Motors.
The higher Q3 EV sales could positively impact Ford's stock in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.
The ETF's positive performance could indicate a positive outlook for the EV sector.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100