EV startups set to extend blistering rally
Jun 16th 2023 at 8:26AMMotors were set on Friday to extend a blistering rally in their shares that has put the cash-strapped companies on track for hefty weekly gains.
For instance Nikola, which has more than doubled in value this week, has a short interest of 15.7%, according to Refinitiv. Other big gainers such as Lordstown and Workhorse Group have short interests of 15.2% and 24.3%, respectively. The surge could help Nikola overcome the risk of being delisted. The company late in May received a notice from Nasdaq as its share price had been below the $1 minimum level for the past 30 days.
Nikola's stock has a 12-month forward price-to-sales ratio of 3.21, compared with Workhorse's 1.38 and Tesla's 7.23.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lordstown Motors Considering Suing Foxconn Over Funding IssuesLordstown Motors, the EV startup that developed the Endurance all-electric pickup, plans to take legal action against investor Foxconn to ensure that the Taiwanese firm completes its planned purchase of nearly 10 percent of the EV maker’s shares.
Read more »
Nikola Jokic Drops F-Bombs At Nuggets Rally, 'Best Day Of My F***ing Life'Nikola Jokic provided some quality entertainment following the parade ... getting behind the mic at the rally and proclaiming Thursday was 'the best day of my f***ing life.'
Read more »
Toyota shareholders reject proposal demanding it do better on fighting climate change - AutoblogAkademikerPension, a $20 billion Danish investment fund, accused Toyota of lobbying to weaken efforts by governments around the world to phase out the internal combustion engine.
Read more »
Ford will take on Dakar this January with Ranger - AutoblogFor the first time, Ford Performance as a global organization is taking on Dakar with the Ford Ranger. This first run will be a learning experience.
Read more »
One thing every car brand does really well - AutoblogHere's one thing every car brand does that's laudable ... well, with a couple of sarcastic exceptions.
Read more »
Lexus LC500 Edge launches in Japan for 60 lucky customers - AutoblogLexus launches the LC500 Edge, a 60-unit limited-run of the flagship luxury coupe that features exclusive aerodynamic, suspension, and color options.
Read more »