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Tesla earnings lift electric vehicle stocks – Yahoo Money

Yahoo Finance Live’s Julie Hyman and Brian Sozzi discuss how electric vehicle stocks are performing after Tesla reported earnings.
JULIE HYMAN: Let’s talk about a car maker before we go to break. We got to check on Tesla as well to see how it’s doing now that it’s actually open. It’s up by about 9% this morning after the company reported that record profit, and a lot of attention being paid to the margin, the automotive gross margin. How much does it cost them to make cars, how much of a profit are they making on the individual cars– that getting some attention. We’re going to talk about that a little bit later, as well as the big, big production target for the company.
I was just talking about spillover from the car retailers. We got to talk about spillover into the rest of the EV space as well, because we are seeing a lift for not just Tesla, but for some of its exclusively electric rivals, right? Rivian, Lucid, Nikola, Nio– all of them are trading higher here this morning out of the gate, presumably on the idea that if there’s demand for Tesla, maybe there’s demand for this other stuff as well. So we’re going to keep on watching these other stocks to see if they end up performing. And they’re not going to perform like a Tesla, I suspect, at least, not any time soon, but in terms of how many cars they are selling.
Her Majesty is celebrating her seven-decade reign this year
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