Stocks Analysis by The Tokenist (Timothy Fries) covering: GameStop Corp, Tesla Inc, Nio Inc Class A ADR, Rivian Automotive Inc. Read The Tokenist (Timothy Fries)'s latest article on Investing.com
Reminiscing about the late 2020 period, the market is seeing a resurgence of meme stock trading. And once again, GameStop is the leader, with an astronomical 377% resurgence over one month. In January 2021, GME shares went up from $4.3 to $86.88 per share.
On May 7th, the company delivered Q1 2024 earnings, boasting a 5.1% EV market share in the US. At a price tag of over $70k, the R1S model proved to be the best-seller for the quarter. Nonetheless, Rivian remains unprofitable, having reported a net loss of $1.446 billion vs $1.349 billion in the year-ago quarter.
Rivian’s 52-week low price is $8.26 per share. Over the last month, RIVN stock has increased 26%, outperforming TSLA by 2.5%.) delivered its Q1 2024 earnings. The progenitor of the meme stock trading, the social media platform reached a milestone. Up until this quarter, the company failed to deliver a profitable one.
However, the initial hype is likely to subside towards correction. WSJ’s average RDDT price target is $59.60 vs the currently elevated $64 per share. Reddit’s 52-week low price is $37.35, below the WSJ’s low forecast of $45 per share.) is a borderline penny stock, gaining a 43% boost over the month. The Chinese EV company has proven it can scale its operations for the smart electric vehicle market and battery as a service . Like Rivian, Nio is primarily focused on premium SUVs and sedans.
In the second half of 2024, Nio is poised to enter the mainstream market with a more affordable model dubbed “Alps,” set within the $27k to $41.5k price range. Subsequently named Onvo, it is scheduled to launch on May 15th as the L60 model.
Tesla Inc Nio Inc Class A ADR Rivian Automotive Inc
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