EV Stocks Soared This Week, but Tesla Lags Competitors
Shares of EV stocks had a great week this week after Luminar Technologies (NASDAQ: LAZR) reported earnings and some competitors fought for market share. But Tesla (NASDAQ: TSLA) stock was flat for the week, as investors continue to process a likely drop in sales in the first quarter of 2025.On the plus side, according to data provided by S&P Global Market Intelligence, Luminar Technologies is up 66.3% for the week, Lucid Group (NASDAQ: LCID) jumped 15.3%, and EVgo (NASDAQ: EVGO) is up 13.8% as of 3:30 p.m. ET. After a rough start to the year, maybe the EV market is starting to turn.Luminar's huge move was driven by fourth-quarter 2024 earnings, which showed a 45% increase in revenue sequentially to $22.5 million and cash on hand of $232.7 million. Continue reading
Shares of EV stocks had a great week this week after Luminar Technologies (NASDAQ: LAZR) reported earnings and some competitors fought for market share. But Tesla (NASDAQ: TSLA) stock was flat for the week, as investors continue to process a likely drop in sales in the first quarter of 2025.
On the plus side, according to data provided by S&P Global Market Intelligence, Luminar Technologies is up 66.3% for the week, Lucid Group (NASDAQ: LCID) jumped 15.3%, and EVgo (NASDAQ: EVGO) is up 13.8% as of 3:30 p.m. ET. After a rough start to the year, maybe the EV market is starting to turn.
Luminar's huge move was driven by fourth-quarter 2024 earnings, which showed a 45% increase in revenue sequentially to $22.5 million and cash on hand of $232.7 million.
