From Nasdaq: 2025-02-13 14:00:53

Shares of electric vehicle (EV) stocks, including Rivian (NASDAQ: RIVN), Wolfspeed (NYSE: WOLF), and Indie Semiconductor (NASDAQ: INDI), rose by 5.7%, 14.9%, and 5.1% respectively. The increase was likely due to positive incremental news for EVs, with no company-specific news reported.

Despite the recent surge, Rivian, Wolfspeed, and Indie Semiconductor have all experienced significant declines. Rivian and Wolfspeed are down 93% and 96% respectively, with short interest around 14% and 25%. All three companies are currently investing heavily but are struggling to generate revenue from these investments.

The rise in EV-exposed stocks may be linked to reports that the State Department planned to purchase 400 armored electric vehicles. However, the project is currently on hold, with no confirmation that Tesla (NASDAQ: TSLA) would be awarded the contract. Investors should be cautious and not interpret this as a sign of a broader recovery in EV stocks.



Read more at Nasdaq: Why Electric Vehicle Stocks Rivian, Wolfspeed, and Indie Semiconductor Rallied Today