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Tesla Shorts Run For The Hills, Wedbush’s Ives Calls Delivery Numbers “Major Feather In The Cap” For Bulls

Tesla Shorts Run For The Hills, Wedbush’s Ives Calls Delivery Numbers "Major Feather In The Cap" For Bulls

Tesla shares are up about 3% in…

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This article was originally published by Zero Hedge

Tesla Shorts Run For The Hills, Wedbush’s Ives Calls Delivery Numbers “Major Feather In The Cap” For Bulls

Tesla shares are up about 3% in premarket trading on Monday after the electric vehicle maker announced that its Q3 delivery numbers beat expectations over the weekend. 

And short sellers are starting to give up on the name, Bloomberg noted Monday morning.

Tesla stock borrowed by traders is now just 1.1% of Tesla’s float, the lowest number it has been since the automaker went public. 

Recall, this weekend, we reported that even though the company’s relationship with Beijing has been under the microscope for the better part of 2021, Tesla was still able to report record deliveries for Q3 2021. Almost all of the deliveries came from the company’s Model 3 and Model Y vehicles, as its Model X and Model S sales continue to phase out.

The automaker delivered 241,300 cars worldwide, beating both the company’s previous record of 201,250 and consensus estimates for the quarter, which were at 223,667. 

The number also beat the average projection of 221,952 that Tesla provided to its investors. 

After announcing the numbers on Saturday, Tesla stated: “We would like to thank our customers for their patience as we work through global supply chain and logistics challenges.”

A meaningful portion of Tesla’s production comes from China, where Elon Musk’s relationship with the government has been tense at times. However, over the last few months, Musk has spoken at several Chinese technology conferences and has praised the country for its advances in technology and electric vehicles.

Tesla’s Q3 numbers stack up well when compared to competitors like General Motors, who we noted at the end of last week, saw its sales plunge.

Wedbush’s Dan Ives, apparently still not worried too much about consistent cash flow, called the delivery numbers “a major feather in the cap for the bulls.”

“While there are many competitors in the EV space, Tesla continues to dominate market share as evidenced again this quarter while battling through the chip shortage,” Ives wrote. 

But with an ever-evolving EV landscape, legacy automakers gobbling up marketshare, Tesla’s relationship with China still shaky, and a higher stock price making for a more enticing entrance, shorts may not have given up on the name for good. 

Tyler Durden
Mon, 10/04/2021 – 09:06

Author: Tyler Durden

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Energy & Critical Metals

LCID Stock Alert: There’s Nothing Spooky About This Oct. 30 Catalyst for Lucid Motors

For the electric vehicle fans who’ve been following Lucid Motors (NASDAQ:LCID) closely or actually ordered a Lucid Air themselves, Oct. 30 will mark…

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For the electric vehicle fans who’ve been following Lucid Motors (NASDAQ:LCID) closely or actually ordered a Lucid Air themselves, Oct. 30 will mark an important catalyst. This week began with the company tweeting a photo that indicated that it was about to begin shipping out its first models of the Lucid Air. Today, Lucid confirmed that the week would end with the vehicle deliveries beginning on Friday, Oct. 30. LCID stock has seen plenty of turbulence since the fall began but for investors, this next catalyst should not be scary.

Source: gg5795 / Shutterstock.com

What’s Happening With LCID Stock

This morning’s news has sent LCID shares up by 3%. This is in keeping with the solid week the company has enjoyed, with shares rising 12.6% over the past five days. Despite a significant decline early in the month, LCID stock has rebounded since and is on track to finish October out strong.

Good news for Lucid means bad news for its competitors. As LCID stock continues to rise, its competitor Nio (NYSE:NIO) is falling by 1.4%.

Lucid has taken a long road to get here, but the stretch ahead looks less rocky.

What It Means

As previously noted, up until now, Lucid’s competitors have enjoyed the fact that it does not have any models on the market. As of the end of this week, that will change. Heading into the holiday season, Lucid will have its flagship sedan on the road and in showrooms across the country.

#DreamAhead pic.twitter.com/hVsGQG6f6z

— Lucid Motors (@LucidMotors) October 24, 2021

Lucid played the long game and as much as it may have spooked some investors, it seems to be paying off. The company has also used this time to establish dealerships in Canada, gaining an early foothold in a market with fewer domestic EV producers than the U.S.

The Next Catalyst Doesn’t Look Too Scary

As with any EV producer, upcoming success is largely dependent on battery production. InvestorPlace’s Dana Blankenhorn recently noted this. As he highlighted, Lucid CEO Peter Rawlinson is exactly the type of leader who could help the company secure the contract to build the world’s largest battery storage system. This development would put Lucid in a unique position to succeed as other companies struggle to procure battery components amid the supply chain crisis.

Lucid did a great job procuring media coverage and staying in the public eye before drivers could admire its cars on the street. Now that we’re about to be able to do exactly that, interest in Lucid’s vehicles is going to expand even further.

The Lucid Air may be coming soon to a driveway near you, and LCID stock is worth watching as a result.

On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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The post LCID Stock Alert: There’s Nothing Spooky About This Oct. 30 Catalyst for Lucid Motors appeared first on InvestorPlace.

Author: Samuel O'Brient

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Energy & Critical Metals

Top Uranium Stocks To Watch Right Now

Before November begins, which uranium stocks will you watch?

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Before November begins, which uranium stocks will you watch?

When it comes to mining companies, uranium stocks are sometimes disregarded by investors. Many investors are unaware that uranium is a massive industry with activities all over the world. COVID-19 has also had an impact on the uranium stock market. COVID led Uranium stocks to reach levels not seen since the Fukushima Daiichi nuclear disaster in Japan in 2011.

Some feel that Reddit is responsible for some of the uranium hysteria. Retail investors have become extremely influential in the stock market in the last year, as you may have seen. In February, a subreddit called r/UraniumSqueeze was launched for uranium retail investors. So far, the subreddit has amassed over 18,200 members.

But how can you know which uranium stocks are the best to buy? Perhaps you’ve discovered a uranium firm in which you’d want to invest, but you’re unfamiliar with the market. The best things to keep up with are company-specific news, global news, and industry news. A uranium shortage, for example, might cause a price increase. For the time being, let’s look at three uranium stocks that are doing well in the market.

Top Uranium Stocks To Watch

  1. Energy Fuels Inc. (NYSE: UUUU)
  2. Cameco Corporation (NYSE: CCJ)
  3. Denison Mines Corp. (NYSE: DNN)

Energy Fuels Inc. (NYSE: UUUU)

Energy Fuels Inc. obtains, recovers, explores for, and sells uranium. Among other things, it owns and operates the Nichols Ranch project. It also has uranium property holdings and projects for exploration, permitting, and evaluation. The majority of its holdings are in Utah, Wyoming, Arizona, Colorado, and New Mexico.

The corporation began the earnings season at the end of July, releasing its second-quarter results. As of the conclusion of the quarter, the firm had $98.8 million in working capital. The current inventory of Energy Fuels is worth $39.1 million.

Mark S. Chalmers, the President and CEO of Energy Fuels said, “Energy Fuels achieved another significant milestone in restoring U.S. rare earth supply chains when we recently announced the successful production of rare earth carbonate from U.S.-sourced natural monazite sand at our White Mesa Mill.” Based on this new info, will UUUU stock be on your watchlist in November?

Cameco Corporation (NYSE: CCJ)

Cameco Corporation is a uranium stock that is primarily engaged in the production and sale of uranium. The company’s two divisions are uranium and fuel services. The uranium division of Cameco mines, grinds, and buys and sells uranium concentrate. Its primary uranium asset is the Cigar Lake deposit in Canada. Its fuel services division refines, converts, and fabricates uranium concrete, as well as buys and sells conversion services.

The corporation released its second-quarter results for the year on July 28th. Revenue, gross profit (loss), and cash supplied by operations all decreased year over year. At the time, the corporation is still working to recover from the pandemic’s consequences.

CEO of Cameco, Tom Gitzel said, “We are taking the steps we believe are necessary, including investing in digital and automation technologies, to support the restart of our tier-one assets to create a more flexible asset base that will allow us to align our production decisions with our contract portfolio commitments and opportunities, allow us to eliminate the care and maintenance costs incurred while our tier-one production is suspended, and to benefit from the very favorable life-of-mine economics our tier-one assets provide.” Now that you know the latest about CCJ, will it make your uranium stock watchlist right now?

Denison Mines Corp. (NYSE: DNN)

Denison Mines Corp. is a mining stock that we have frequently discussed on our blog owing to its market velocity. The company’s stock price has risen dramatically during October. This is a uranium exploration firm established in Canada. Denison is involved in the development of several uranium projects throughout the country, notably the Wheeler River project, of which it owns 95 percent of.

The company announced the sale of Goviex shares and warrants for up to $41.6 million on October 21st. The business agreed to sell 32,500,000 common shares of GoviEx Uranium Inc. in a private transaction. Denison was holding these shares for investment purposes at the time. The corporation will get $15,600,000 in gross revenues and will retain 32,644,000 shares. Denison will get an additional $26 million in gross profits if the warrants are fully exercised.

This deal is expected to be completed by the end of October 2021. Denison has announced that the net proceeds of the deal will be used for general corporate purposes. It will be fascinating to see how this transaction plays out and how it affects the DNN stock price. With all of this in mind, will DNN be on your list of uranium stocks to keep an eye on?

Best Uranium Stocks To Buy?

Finding the best uranium stocks to buy can be a difficult process. That is why staying up to date on the newest market developments can be quite beneficial. In the case of most mining stocks, sector news is critical to the investment process. So, which uranium stocks will be on your radar in November 2021?

The post Top Uranium Stocks To Watch Before November appeared first on Gold Stocks to Buy, Picks, News and Information | GoldStocks.com.

cameco corporation

Author: Joe Samuel

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Energy & Critical Metals

A $57 Price Target Could Be Just the Beginning for Xpeng

Let’s be honest. Not every investor loves Chinese companies and stocks right now. Perhaps some investors saw what happened to ride-hailing giant Didi…

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Let’s be honest. Not every investor loves Chinese companies and stocks right now. Perhaps some investors saw what happened to ride-hailing giant Didi Global (NYSE:DIDI). As a result, maybe they’re afraid to take a position in China-based electric vehicle (EV) maker Xpeng (NYSE:XPEV) because XPEV stock might also tank.

Source: Johnnie Rik / Shutterstock.com

Yet let’s not make generalizations. Granted, the Chinese government has been cracking down on some companies, mainly due to cybersecurity and antitrust concerns.

But not every China-based company is in trouble. Moreover, XPEV stock won’t necessarily meet the same fate as Didi and other Chinese stocks.

Indeed, recently issued statistics indicate that Xpeng is firing on all cylinders. Besides, one prominent analyst is bracing for its shares to climb, and his bullish argument is convincing.

A Closer Look at XPEV Stock

The shares did have their time in the sun, back in November 2020. At that time, the share price rocketed from $20 to a peak of $74.49.

Unfortunately, folks who chased the stock in the mid-$70’s were soon punished for their haste. As it turned out, a nasty crash ensued in late 2020 and persisted throughout the first few months of 2021.

Since the summer, XPEV stock has been rangebound and can’t seem to break above $45. There’s an old saying, though: the longer the base, the higher in space. In other words, prolonged sideways periods can sometimes be the launch pad for a major breakout.

So don’t be discouraged by the lateral movement of XPEV stock. A big move could be just around the corner – and it would be a shame if you don’t have a position in the stock when it happens.

No One Can Argue With These Results

Stocks will always have their doubters and naysayers, especially when it comes to Chinese companies nowadays. However, the skeptics would be hard-pressed to argue with the numbers included in Xpeng’s recently published vehicle delivery update.

Seriously, the company just killed it across the board. For one thing, Xpeng posted 10,412 deliveries in September, marking the company’s highest-ever monthly delivery figure.

Along with passing the 10,000 milestone, that number also represents a 199% year-over-year surge and a 44% increase over the previous month.

Do you need more ammo that supports the bull thesis? Here you go: for Q3, Xpeng achieved a quarterly record of 25,666 deliveries. That amounted to a 48% increase versus Q2, as well as a 199% YOY improvement.

But wait; it gets even better when we extend the timeline. In the first nine months of the year, Xpeng delivered a total of 56,404 vehicles, which represents a whopping YOY increase of 300%.

Bear in mind, this occurred during a semiconductor shortage, as well as the Chinese government’s crackdown on multiple industries.

Yu Said It

Even with those delivery stats in mind, some folks will still be nervous about Xpeng because Chinese stocks have taken a beating this year. To help assuage their fears, I’ll refer the skeptics to Deutsche Bank’s Edison Yu.

While acknowledging that there have been several reasons for the underperformance of Chinese stocks, Yu asserts that the “largest overhang” has been investors’ reluctance to commit to the nation’s equities following the Chinese authorities’ crackdown on Didi.

I tend to concur with Yu’s reasoning. Looking ahead, Yu believes that “sentiment {towards Chinese EV stocks)  could be bottoming going into year-end.” That, of course, should be beneficial to Xpeng and its shareholders.

Furthermore, for Q4, Yu believes that Xpeng’s delivery guidance in the 35,000 to 40,000 range, and he predicts that the company will deliver 15,000 vehicles in December.

Those estimates are realistic, and would bring Xpeng’s full-year volume to almost 94,000 deliveries, representing a 247% YOY increase. Yu raised his price target on XPEV stock from $51 to an even more ambitious $57.

The Bottom Line

I like the sound of $57, but long-term investors can aim even higher than that if they truly believe in the company. And why wouldn’t they? Just look at those delivery numbers and the surges in the automaker’s deliveries.

They’re outstanding and suggest that XPEV stock deserves to be much higher.

So if you own the stock, just be patient and be prepared for a spectacular ending to Xpeng’s  record-breaking year.

On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The post A $57 Price Target Could Be Just the Beginning for Xpeng appeared first on InvestorPlace.

Author: David Moadel

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