Tesla (TSLA) is the outlier that does not fit in the electric vehicle bubble watch. Distracted investors look forward to the firm’s prospects in artificial intelligence, through xAI, and robo taxis.
Tesla investors need to watch out for its stock re-testing the $130 - $180 range. Sentiment would worsen if shareholders turned their attention back to falling Tesla EV prices, weak margins, and lower sales volumes.
Polestar (PSNY) traded below $0.80 in the last two months to form a double bottom. The stock broke out to $1.22 on August 30 after posting Q2 results. It delivered 82% more cars, or 13,150 units, compared to Q1/2024. Liquidity improved in August after the firm secured up to $300 million in additional external funding.
In the second quarter, Polestar lost $466.2 million, down by 6% Y/Y.
In the penny stock range, Nikola (NKLA) and Mullen (MULN) will continue to fall. Expect the stock exchange to delist them by the end of this year.
Vinfast (VFS), while trending lower, still has a market capitalization in the $8.3 billion range. In July, the firm slashed its full-year EV delivery forecast. It expects to deliver 80,000 units, down from 100,000. This is a 230% Y/Y growth rate. The firm delayed production from its North Carolina production. It cited macro headwinds and market uncertainties for the decision.
