'De-risk, not decouple' are the new buzzwords for Western policy toward China, drawing skepticism from Beijing about whether there is any difference between the two. For businesses caught in the middle, the semantics are beside the point.
'De-risk, not decouple' are the new buzzwords for Western policy toward China, drawing skepticism from Beijing about whether there is any difference between the two. For businesses caught in the middle, the semantics are beside the point.
The world is gradually moving away from fossil fuels for several reasons, driven by environmental, economic, and technological factors. Key reasons behind the transition include:
Nio (NYSE: NIO) posted its first-quarter earnings report on June 9. The Chinese electric-vehicle (EV) maker's revenue rose 8% year over year to a U.S. equivalent of $1.55 billion, which missed analysts' estimates by $80 million. Its adjusted net loss more than tripled to $604 mil
Below is Validea's guru fundamental report for TESLA INC (TSLA). Of the 22 guru strategies we follow, TSLA rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit cha
A U.S. stocks rally is showing signs of expanding beyond the cluster of giant growth and tech names that have led gains this year, as investors reposition portfolios primed for a widely expected recession.
The cryptocurrency landscape looks very different today than it did at the height of the frenzy among investors in 2021. Back then, the vast majority of mainstream tokens were experiencing strong gains, whereas today, investors are being much more selective.
Wall Street bounced back during its holiday-abridged trading last week. I thought my three stocks to avoid -- Altria, Carvana, and Hooker Furniture -- were going to lose to the market in the past week. They were flat, soared 22%, and rose 11%, respectively. The final result was a
Uber (NYSE: UBER) is the leader in ride sharing, but it's failed to build autonomous driving that could lower costs long-term. Now, it's turning to Waymo for technology, but will that project succeed? Travis Hoium and Jon Quast discuss the most recent developments in this video.
Four stocks that trade on U.S. stock exchanges currently have market caps of more than $1 trillion. And all of them have significant artificial intelligence (AI) development efforts.
Shares of electric-car maker Tesla (NASDAQ: TSLA) have been surging higher recently. Indeed, the stock has doubled year to date. Over the last 30 days alone, shares have risen 43%. You'd think with such an incredible gain behind it that the stock could cool off soon. But one anal
In this week's video, I cover everything you need to know about news related to Tesla (NASDAQ: TSLA) during the week of June 5. Today's video will focus on Nio's first-quarter earnings, Tesla's sales numbers in Europe and China, and possible new factory locations.
Below is Validea's guru fundamental report for TESLA INC (TSLA). Of the 22 guru strategies we follow, TSLA rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit cha
Motley Fool host Deidre Woollard caught up with Ashlee Vance, author of When the Heavens Went on Sale: The Misfits and Geniuses Racing to Put Space Within Reach. They discuss:
Twitter will soon begin paying verified content creators for ads in their replies, with the first payment block of around $5 million, company owner Elon Musk said on Friday.
A U.S. stocks rally is showing signs of expanding beyond the cluster of giant growth and tech names that have led gains this year, as investors reposition portfolios primed for a widely expected recession.
U.S. shares struck new highs for the year on Friday and helped lift world stocks to a 13-month peak, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S. markets being drained of cash.
The S&P 500 closed higher on Friday but off session highs, as a Tesla rally failed to galvanize the broader market on the eve of the Federal Reserve's policy meeting and inflation data next week.
Even if you like EVgo (
NASDAQ:EVGO
), the company's stock looks like a no-go due to recent deals between a well-known
electric vehicle (EV) manufacturer and two giant automakers. Therefore, I am bearish on EVGO stock.
EVgo is an ambitious start-up business that has a network of EV charging stations. This might sound like a terrific growth opportunity for prospective investors. Yet, the market isn't bullish on EVGO stock, and while I don't always agree with the crowd, I actually share their sour sentiment in this instance.
As we'll discover, at least one insider bought EVgo shares not long ago, and Wall Street's analysts aren't ultra-bearish on the stock (though that's liable to change). Nevertheless, after you've heard the latest developments in the EV space, you'll probably choose not to consider a long position in EVgo today.
EVgo Posts Seemingly Strong Sales, but Don't Get Too Excited
EVGO stock
has been on a steep downtrend lately, and this might baffle some investors. After all, the stock should be moving higher since EVgo posted a
first-quarter 2023 earnings beat. Be sure to delve into the details, though, before you think about jumping into a trade.
It's true that EVgo posted a quarterly net loss of $0.18 per share, slightly beating the consensus estimate of a loss of $0.19 per share. Furthermore, EVgo's Q1-2023 revenue
increased 228.6% year-over-year to $25.3 million, and those sales figures look impressive.
On the other hand, EVgo's quarterly sales fell short of Wall Street's forecast by $1.5 million. Moreover, EVgo's guidance for Fiscal Year 2023 revenue is rather vague, at a wide range of $105 million to $150 million. Analysts, meanwhile, called for revenue of $138.8 million.
So, EVgo's results and outlook aren't ideal. For what it's worth, an EVgo insider, Chairman David Nanus, recently
bought 5,882,352 shares of EVGO stock. That's a bold $20+ million bet, but is it enough to convince cautious financial traders to invest in EVgo?
The answer is -- probably not. Traders are likely still skittish, as EVgo
disclosed an underwritten public offering of around $125 million worth of Class A shares last month. Even beyond the share dilution concerns, it's not necessarily a positive sign if EVgo feels the need to boost its balance sheet by selling a large number of shares.
Tesla's Charger Deals Spell Trouble for EVgo
In case there weren't already enough reasons to worry about EVgo's future prospects, the EV infrastructure industry dropped not just one but two bearish bombshells on EVgo. Late last month, Tesla
reached an agreement with Ford (
NYSE:F
), so that now and in the future, anyone who owns a Ford vehicle will have access to Tesla’s network of rapid EV charging stations known as “superchargers.”
Furthermore, in a still-fresh development, General Motors (
NYSE:GM
) established a similar
EV charging agreement with Tesla to the one that Ford forged with Tesla. According to a
Barron's report, General Motors anticipates that its EVs will be able to access Tesla’s “supercharging” network sometime in 2024.
This is good news for the vehicle electrification movement in general since it will allow convenient interoperability between EV and charging brands. However, it's potentially devastating news for a competing EV charging station provider like EVgo.
It makes sense that
EVGO stock dropped like a rock today, as traders can envision many Ford and General Motors EV drivers using Tesla's "superchargers" because they recognize the familiar Tesla brand name instead of going out of their way to try an EVgo charger.
Is EVGO Stock a Buy, According to Analysts?
All in all, Wall Street has been fairly optimistic about EVgo, though this could change at any given moment. On TipRanks, EVGO stock has a Moderate Buy rating based on four Buys, three Holds, and one Sell rating assigned in the past three months. The average
EVGO stock price target is $8, implying 138.8% upside potential.
Conclusion: Should You Consider EVGO Stock?
In case you haven't figured it out already, I'm definitely not recommending taking a long position in EVGO stock. I usually root for start-up businesses seeking to support clean energy initiatives. Yet, Tesla's new EV charging agreements are just too problematic for EVgo.
Maybe at some point in time, there will be reasons to consider investing in EVgo. For the rest of 2023, however, it's simply too risky to consider buying EVGO stock, and current shareholders might want to think about cutting their losses and moving on to something safer.
Disclosure