Rivian, Lucid, Luminar And Other EV Stocks Rally After Telsa’s Blowout Earnings: Retail Sentiment Mixed

Rivian Automotive

Shares of EV truck maker Rivian Automotive Inc. ($RIVN) jumped over 2% before the opening bell on Thursday. The company has been plagued by numerous safety incidents at its factory in Illinois. Meanwhile, the United Auto Workers (UAW) union has been pushing to unionize its workers. 

Despite the stock rally, retail sentiment on Stocktwits has fallen into the ‘neutral’ (50/100) territory from ‘bullish’ a day ago.

Rivian’s stock has lost 51% of its value so far in 2024. 

Lucid Group

Shares of EV sedan maker Lucid Group Inc ($LCID) also jumped as much as 2% pre-market on Thursday. The company recently secured $1.75 billion in stock sale, which is expected to bring in a “cash runway” well into 2026.

Retail sentiment on Stocktwits has dipped into the ‘neutral’ (54/100) territory from ‘bullish’ a day ago. 

Lucid’s stock has lost 39% of its value so far in 2024.

Luminar Technologies

Shares of Luminar Technologies Inc. ($LAZR) climbed 1.6% before markets opened on Thursday after falling nearly 3% in the previous trading session. The company develops technologies primarily for self-driving cars. 

The recent spike in its share price comes as the firm faces the risk of delisting, potentially requiring a reverse stock split to remain listed on the Nasdaq.

Retail sentiment on Stocktwits has dropped into the ‘extremely bearish’ (24/100) territory from ‘neutral’ a day ago. 

Luminar’s shares have fallen 74% so far in 2024.

Workhorse Group 

Shares of Workhorse Group ($WKHS) rose less than 1% before markets opened on Thursday. 

The commercial EV-maker has been underperforming compared to competitors like Tesla ($TSLA) and General Motors Co. ($GM) and now faces the risk of being delisted from the Nasdaq.

Retail sentiment on Stocktwits has slipped into the ‘neutral’ (45/100) territory from ‘bullish’ a day ago.

Shares of Workhorse have lost 89% of their value so far in 2024. 

Nikola Corporation

Shares of Nikola Corporation ($NKLA) rose over 1% on Thursday before the opening bell. The company develops heavy-duty battery-electric and fuel-cell electric vehicles, primarily for the commercial sector. 

DHL Supply Chain and Diageo – the drinks firm behind Smirnoff, Captain Morgan, and other beverages in North America – announced plans to use two Nikola hydrogen trucks in their US fleet on Wednesday.

Retail sentiment on Stocktwits has flipped into the ‘neutral’ territory (49/100) from ‘extremely bullish’ a day ago. The EV-maker is also scheduled to report its earnings later on Thursday.

Nikola’s stock has lost 84% of its value so far in 2024. 

ChargePoint Holdings Inc 

Shares of ChargePoint Holdings Inc. ($CHPT) were up over 3% on Thursday ahead of the market opening. The charging station supplier recently announced new low-cost charging solutions for EV vehicles. 

Despite the spike in its share price, retail sentiment on Stocktwits remains ‘bearish’ (41/100).

The stock has lost 41% of its value so far in 2024.

For updates and corrections email newsroom@stocktwits.com.

Read also: Tesla Set To Snap 5-Day Losing Streak As Wall Street Lauds Q3 Earnings: Retail Mood Stays Down