Investors who bet against Tesla (TSLA) CEO Elon Musk may have second thoughts. Last night, Ottawa announced that it would freeze the $43 million rebate payments. It will also bar it from rebates due to U.S. President Trump's tariffs.
In China, EV giant BYD (BYDDF) posted revenue of 777 billion yuan in 2024. It is now the leader in the EV market. BYD also has a stronger, diversified business. It is leading supplier in batteries, electronics, and new energy vehicles.
TSLA stock bottomed at around $220. The stock broke above the 20-day simple moving average. The next resistance level is around $330 at the 50-day SMA. Rivian (RIVN) is trading similarly, facing resistance at $12.36. Lucid Group (LCID), which has bears holding a 22.58% short float, double-bottomed at $2.00. It closed at $2.43 on March 25.
In the chip sector, Qorvo (QRVO) gained 3.73% yesterday to close at $75.63. Investors should not chase QRVO stock. Nvidia (NVDA), AMD, and Micron (MU) offer better upside if the AI spending continues.
In the resource sector, International Paper (IP) added $3.43 to close at $56.26. It held its Investor Day on Tuesday in New York City. The firm is forecasting an FY 2025 revenue of $27 billion. EBITDA is up to $4.0 billion.
IP stock could break out of the $50 - $53 trading range. The stock is inexpensive and offers investors strong growth and profitability.
