Why Tesla and Polestar Stocks Soared, but Nikola Plunged in September

The first half of the year was mostly negative for electric vehicle (EV) investors. Increasing competition, continued consumer hesitancy over lack of charging infrastructure, and struggling economic conditions in many countries slowed sales growth for names including EV leader Tesla (NASDAQ: TSLA).But sentiment started to change in the third quarter, and some EV stocks ticked higher. Tesla stock, for example, surged 22.2% last month, according to data provided by S&P Global Market Intelligence. Even EV newcomer Polestar Automotive (NASDAQ: PSNY) shares soared 41%. One exception was electric heavy-truck maker Nikola (NASDAQ: NKLA). Its shares dropped nearly 31%, but the stock reversed course at the end of the month, recovering about half of September's losses in the past week. The push higher in Tesla shares erased most of 2024 losses. Investors grew optimistic about Tesla's Q3 delivery report as well as the upcoming Robotaxi update event expected on Oct. 10. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool