Weekly Report (April 28 – May 4, 2023) on the First Tranche of Stellantis Share Buyback Program

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Go back to Weekly Report (April 28 – May 4, 2023) on the First Tranche of Stellantis Share Buyback Program

U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts

May 9, 2023 1:44 PM EDT

U.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.

Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More

Barclays predicts April back step as EV penetration reaches 14% in March report card

May 9, 2023 8:11 AM EDT

Barclays released a March EV report card as EV penetration reached 14%, up m/m and y/y, but still below elevated 4Q22. Analyst Dan Levy believes April is poised to be a slight step back in uptake, in-line with typical 1st month-of-quarter patterns. Tesla (NASDAQ: TSLA), however, had an impressive March share, benefiting from price cuts and an increased focus on low cost EVs exported from China.

China once again had the highest EV penetration rate among the major global regions (30% in March), yet was flat m/m.... More