Expectations that the Federal Reserve cuts interest rates led to elevated stock speculation. The electric vehicle sector is in the spotlight today.
In the pre-revenue battery development market, QuantumScrape (QS) rose by 17% last Friday. Volkswagen (VLKAF) announced that it would ramp up production of solid-state batteries it developed with the firm. In the new agreement, VW’s PowerCo may manufacture up to 40 gigawatt-hours per year based on QS’s technology. It may expand its capacity to 80 GWh annually.
Corning (GLW) gained 9.5% last week after the firm increased its revenue forecast by $200 million. It cited generative AI-related projects as a reason for the higher sales. Investors have no reason to sell GLW stock after the rally. The firm is a leading glass producer for smartphone producers like Apple’s iPhone. It also supplies ultra-high-speed fiber cable connect arrays for computing clusters used in AI.
Aehr Test Systems (AEHR) is another stock to watch. After gaining 35% last week, shares may pull back. It sells testing SIC solutions for the EV market. However, the EV sector continues to weaken.
In the REIT sector, watch out for Arbor Realty Trust (ABR). Shares plunged by 17% last Friday. Short sellers hold a 37% short interest against ABR stock. Shares pay a dividend that yields 13.3%.
