Day: November 17, 2021

Why Nio Stock Slumped Today

What happened

Shares of Chinese electric car company Nio (NYSE:NIO) slipped 2.8% in 2:25 p.m. ET trading Wednesday afternoon, joining in a multi-car company pileup that cost Lucid Group (NASDAQ:LCID) more than 5% and sent Rivian Automotive (NASDAQ:RIVN) crashing 18% lower.

So what

There is one big difference among these three electric car stocks, however: Nio stock has been “range-bound” for pretty much the entire past month. In fact, if you compare the stock’s price today to where it was exactly one month ago, Nio stock is up only $0.01 in price!

Compare that to Californian electric car company Lucid Group, though, whose stock has roughly doubled over the last 30 days. And compare it to Rivian, which up until investors slammed on the brakes today, hadn’t suffered a single losing session since its stock IPO’ed one week ago.

Red arrow going down crosses a green arrow going up.

Image source: Getty Images.

Now what

Now why might that

Read More

The BMW M1 Is an Exotic Free of Compromises

bmw m1 drive

JEFFREY R. ZWART

There are cars that are faster. There are cars that handle better at super speeds. There are cars that have more exciting styling. But anytime you want to put an end to the argument of which is the best exotic car in the world, drop the name BMW M1. A hush will fall. . . and most enthusiasts who have had the opportunity to drive a variety of the world’s most exclusive automobiles will nod knowingly. They may disagree eventually with your choice, but they will surely pause to consider their arguments. When you make your living as an automotive journalist, life is an ongoing debate of the merits of various cars, particularly exotic cars. And, for most of us in this profession, the M1 holds a special place.

This story originally appeared in Road & Track’s 1986 Exotic Cars: 4 issue.

SIGN UP FOR THE

Read More

Why Rivian Automotive Stock Keeps Running Higher

What happened

For the fourth day in a row — the fourth day since its initial public offering — shares of electric car upstart and purported Tesla-killer Rivian Automotive (NASDAQ:RIVN) marched higher Tuesday.

Through 10 a.m. EST, Rivian shares have already gained another 6.3% despite there being no new news today to explain the enthusiasm.

A green stock arrow rises higher.

Image source: Getty Images.

So what

No new news about Rivian, that is to say. As it turns out, though, one of Rivian’s competitors in the electric vehicle space, Lucid Motors (NASDAQ:LCID), just reported its third-quarter 2021 earnings last night — and it seems investors are pretty excited about that one.

Although Lucid reported wider losses and lower sales than anticipated, investors responded positively to the luxury electric car maker’s announcement that its Lucid Air sedan just won Motor Trend‘s Car of the Year award. They were also pretty pumped to learn

Read More