Tesla races to new high as electric vehicle sector buzzes again

Nov. 01, 2021 9:50 AM ETXPeng Inc. (XPEV), LI, TSLA, GNENYFCEL, WKHS, BLNK, NIO, GO, GOEV, RIDE, VLTA, EVGO, HYZN, FSR, LCID, ARVLBy: Clark Schultz, SA News Editor229 Comments

Stock market data with uptrend vector

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  • Tesla (TSLA +2.0%) adds to its trillion dollar market cap with another swing higher to start November trading off strong. Earlier today, a new lithium product contract was reported by Reuters between Tesla and China's Ganfeng Lithium Co Ltd (OTCPK:GNENY) and its unit GFL International Co Ltd.
  • The morning push higher from Tesla arrives with Li Auto (LI +1.7%), XPeng (XPEV +5.0%) and Nio (NIO +0.6%) all reporting November deliveries and Lucid Group (LCID +3.6%) jumping again with the EV startup's deliveries catching attention. TSLA carved out a new intra-day high of $1,150.00.
  • The electric vehicle sector in general is off to a strong start with Volta (VLTA +12.4%), FuelCell Energy (FCEL +9.1%), Fisker (FSR +6.0%), Hyzon Motors (HYZN +6.3%), Lordstown Motors (RIDE +5.5%), EVgo (EVGO +5.5%), Blink Charging (BLNK +6.8%), Arrival (ARVL +5.7%), Canoo (GOEV +4.0%) and Workhorse Group (WKHS +5.1%) some of the notable gainers.
  • Also of note, there was an interesting spin from Morgan Stanley earlier today when it named its favorite electric vehicle stock.

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