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ChargePoint, Workhorse Group and QuantumScape pace big day for electric vehicle stocks – Seeking Alpha

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franckreporter/iStock via Getty Images

franckreporter/iStock via Getty Images
The electric vehicle stocks showed strong gains in midday trading on Tuesday after a relaxation of tension around the Russia-Ukraine conflict has sent the broad stock market higher and some investors back into high-growth story stocks.
The biggest gainers in the sector included Volcon Motors (VLCN +17.9%), Blue Bird Corporation (BLBD +14.3%), ChargePoint Holdings (CHPT +12.2%), Workhorse Group (WKHS +8.5%), Beam Global (BEEM +7.7%), QuantumScape (QS +8.3%), Electrameccanica Vehicles (SOLO +7.7%) and Sono Group (SEV +7.0%).
Green Power Motor Company (GP +7.3%) broke higher with ROTH Capital Partners upgrading the stock to a Buy rating off its view that EV school bus subsidies will likely materialize quickly.
Rivian Automotive (RIVN +4.8%) gained after Soros Fund Management and Tudor Investment were among the hedge funds that disclosed being long at the end of the year.
Fisker (FSR +5.0%) also jumped after opening up reservations for second EV model.
Tesla (TSLA +4.3%) showed a solid gain as investors brushed off reports that South Korea’s Fair Trade Commission may fine the automaker for misleading ads.
XPeng (XPEV +6.6%) was the leading gainer of the Chinese EV stocks.
Lucid Group (LCID +3.5%) was also higher with the Saudi sovereign wealth fund confirming its large stake.

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