Reported about 1 month ago
Shares of electric vehicle (EV) companies Rivian, Wolfspeed, and Indie Semiconductor saw notable increases on Thursday, with rises of 5.7%, 14.9%, and 5.1%, respectively. Although there was no specific news directly affecting these companies, the uptick likely stems from positive sentiment surrounding the EV market and speculation about potential government contracts for armored electric vehicles. However, experts caution that this surge may only represent a temporary rebound rather than a sustainable recovery, as each company continues to face significant financial challenges in light of a recent slowdown in EV demand.
Source: YAHOO