HomeTesla stock jumps on plaid skyscrapers in China; Battery problem draining Rivian stock

Tesla stock jumps on plaid skyscrapers in China; Battery problem draining Rivian stock

Tesla (TSLA) Shares rose after CEO Elon Musk tweeted that the Model S Plaid may be launched in China as early as March. Meanwhile, the last IPO Rivian (countrysideSink due to reports of substandard battery performance in electric delivery trucks.


Sunday night, Musk – when asked when the luxury sedan will be available in China – chirp, “Maybe in March.”

Tesla Plaid launched in June 2021. The 520-mile range car can go up to 200 mph and sells for $129,990.

For Tesla, the Chinese market remains a key factor in its success. “The focus of the overall bullish thesis on Tesla remains China, which we estimate will account for 40% of the electric car maker’s deliveries in 2022,” Wedbush analyst Daniel Ives said in a recent analyst report.

Meanwhile, a recent Amazon test of the Rivian electric truck showed that battery performance fell short of EV startup claims.

according to Report in the informationBattery drains 40% faster than normal if the truck is heating or cooling. Rivian said in its prospectus that the all-electric delivery trucks will have a range of 120 miles to 150 miles, depending on size.

Amazon owns a 20% stake in Rivian. It has ordered 100,000 of its trucks.

This is the second negative news to rock early Rivian investors. Last week, auto news I showed That Rivian and Ford, which also has a stake in the EV startup, have canceled their plans to develop and join a joint EV. In mid-October, Ford relinquished its seat on Rivian’s board of directors.

Tesla Stock, Rivian Stock

Tesla shares rose 4.5% to 1,188.72 in stock market today. TSLA’s stock extends from a cup base buy point 900.50, and in the take-profit zone, according to MarketSmith.

Tesla hit an all-time high of $1234.49 on November 4, before stumbling upon news that Musk had begun selling as much as 10% of his stake in the EV maker.

company Relative force line He also dived at that time, but is heading upwards again. Tesla has RS . rating Out of 97 out of 99 possible EPS rating He is 72.

Shares of Rivian fell 13% to 111.32 on Monday. RIVN stock rose 67% in the first few days after its initial public offering, to 129.95. But stocks closed down 1% after a wild ride after the first full week of trading last week.

Among other EV stocks, the China-based Exping (XPEV) 3.9% popped and she is in Purchasing scope to 50.48. New (NIO) increased by 8% while Lee Otto (In the) rose by 2.3%.

Among the American automakers, Lucid (LCID) reversed opening gains and fell 3.2%, general motors (GM) rose by 2.5% and stronghold (F) rose by 3.3%. German stocks traded in the US Volkswagen (VWAGY) was mostly flat.

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