Jim Cramer shared his top three electric vehicle plays on TheStreet this week. Cramer said he likes QuantumScape, Fisker, and Lucid Motors.
Lucid Motors is going public via a SPAC merger with Churchill Capital Corp. IV (CCIV) - Get Churchill Capital Corp IV Class A Report. The SPAC stock has fallen from its highs of $64.86 and was trading Wednesday at $28.80.
Here is a list of the electric vehicle stocks to watch and their performance from the past week by percentage change at the close of trading on Tuesday:
Tesla | Increased +0.14%
Shares of Tesla have been falling this year, extending a loss of nearly $275 billion in value triggered by rising interest rates that have dented growth stocks.
TheStreet Quant Ratings rates Tesla as a Hold with a rating score of C.
Ford | Decreased -3.56%
TheStreet looked at the charts of Ford this past week to see if it's the best stock to buy in the auto sector.
TheStreet Quant Ratings rates Ford as a Hold with a rating score of C.
General Motors | Increased +1.95%
General Motors said earlier this week it would omit fuel-management modules from some 2021 light-duty, full-size pickup trucks because of the global semiconductor shortage.
TheStreet Quant Ratings rates GM as a Buy with a rating score of B.
NIO | Increased +2.23%
TheStreet looked at the charts of NIO to see how to trade the electric vehicle maker.
TheStreet Quant Ratings rates NIO as a Sell with a rating score of E+.
Fisker | Decreased -13.71%
Lordstown Motors | Decreased -14.94%
Hindenburg took a short position on Lordstown Motors (RIDE) - Get Lordstown Motors Corp. Class A Report because it beleives the electric vehicle company "... has misled investors on both its demand and production capabilities.”
Lordstown Motors responded to the critical report by saying its output plan was on track.
Nikola | Increased +0.16%
Nikola (NKLA) - Get Nikola Corporation Report fell Tuesday after the company filed with the Securities and Exchange Commission to sell $100 million worth of shares in a secondary offering. In late February, Nikola released the details of its hydrogen-fuel-cell electric trucks.
XPeng | Increased +13.09%
Plug Power | Decreased -16.23%
Truist analyst Tristan Richardson downgraded the stock to hold from buy and cut his price target to $42 a share from $50.
TheStreet Quant Ratings rates Plug Power as a Sell with a rating score of D.
QuantumScape | Increased +7.13%
QuantumScape (QS) - Get QuantumScape Corporation Class A Report was one of the best stocks from this past week but has been trading erratically as rising Treasury yields have caused volatility in speculative plays.
Canoo | Increased +17.92%
Canoo (GOEV) - Get Canoo Inc. Class A Report announced it will be reporting its fourth-quarter results on March 29. Cramer said the stock was a speculative play this year in an episode of "Mad Money" from January.
Blink Charging | Increased +5.49%
Shares of Blink Charging (BLNK) - Get Blink Charging Co Report were heading lower after a fire at Tesla's Fremont, California factory. Blink Charging was granted to place 144 charging stations at 32 sites in Ohio by the Ohio EPA's Diesel Mitigation Trust Fund.
TheStreet Quant Ratings rates Blink Charging as a Sell with a rating score of D-.