Tesla, Rivian, And The EV Roller Coaster: How We Traded A Wild Week For Electric Vehicle Makers
Portfolio Pulse from David Pinsen
The article discusses a volatile week for EV stocks, focusing on Tesla (TSLA) and Rivian (RIVN). Tesla's stock experienced a roller coaster ride, initially rising 9% before dropping due to a postponed robo-taxi demo, and then partially recovering. Rivian saw an 8.05% spike on Friday. The author had bullish positions on both Tesla and Rivian, and turned tactically bearish on Tesla mid-week. The author also took profits on Rivian's January $15 strike calls.
July 15, 2024 | 4:42 pm
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NEUTRAL IMPACT
Tesla's stock experienced significant volatility, initially rising 9% before dropping due to a postponed robo-taxi demo, and then partially recovering. The author turned tactically bearish mid-week.
Tesla's stock was highly volatile due to mixed news. The postponed robo-taxi demo negatively impacted the stock, but it partially recovered by the end of the week. The author's tactical bearish position indicates a neutral short-term outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Lucid Group's stock spiked 25% on Friday, indicating a strong positive movement within the EV sector.
Lucid Group's significant spike indicates strong positive sentiment in the EV sector, suggesting a bullish short-term outlook.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Rivian's stock spiked 8.05% on Friday. The author took profits on half of their January $15 strike calls, locking in a >100% gain on the entire position.
Rivian's stock saw a significant spike, leading the author to take profits on their position. This positive movement suggests a bullish short-term outlook.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100