Tesla's Double Miss Spooks Investors, Rivian CEO Allays Liquidity Concerns, Lucid's Underwhelming Q3 Deliveries And More: Biggest EV Stories Of The Week
Portfolio Pulse from Shanthi Rexaline
Electric vehicle stocks fell in the week ending Oct. 21, with Tesla's disappointing Q3 earnings and revenue miss leading the downturn. Tesla's auto margin was below consensus estimates, and CEO Elon Musk's comments on the earnings call were not well received by investors. Rivian CEO R.J. Scaringe allayed liquidity concerns, stating that the company's recent $1.5 billion convertible green note offering was meant to create an additional buffer. Lucid Group's Q3 deliveries were below consensus estimates. Faraday Future shares gained after the company raised non-dilutive capital. Toyota confirmed it will adopt Tesla’s North American Charging Standard for its battery EVs from 2025.

October 21, 2023 | 2:45 pm
News sentiment analysis
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POSITIVE IMPACT
Faraday Future shares gained after the company raised non-dilutive capital.
Faraday Future's successful capital raise could boost investor confidence and lead to an increase in the company's stock price.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Rivian CEO R.J. Scaringe allayed liquidity concerns, stating that the company's recent $1.5 billion convertible green note offering was meant to create an additional buffer.
Rivian's CEO has addressed liquidity concerns, which could help stabilize the company's stock price in the short term.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Toyota confirmed it will adopt Tesla’s North American Charging Standard for its battery EVs from 2025.
Toyota's decision to adopt Tesla’s North American Charging Standard could have a neutral impact on its stock price in the short term.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 75
NEGATIVE IMPACT
Lucid Group's Q3 deliveries were below consensus estimates.
Lucid Group's disappointing Q3 deliveries could negatively impact investor sentiment and lead to a drop in the company's stock price.
CONFIDENCE 100
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Tesla's Q3 earnings and revenue missed expectations, sending its stock sharply lower. The company's auto margin was below consensus estimates, and CEO Elon Musk's comments on the earnings call were not well received by investors.
Tesla's disappointing Q3 earnings and revenue miss, along with CEO Elon Musk's comments on the earnings call, have negatively impacted investor sentiment, leading to a drop in the company's stock price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100