The pandemic situation might have been hard for electric car producing companies, but now they are recovering the losses during that period at a skyrocketing speed. Shares of an electric vehicle making companies like Tesla, Nio, Workhorse Group Inc went up on wall street, giving its investors tons of benefits during the hard times. Nikola Corp and Workhorse Corp, which saw an upward trending in the stock market from last so many days, finally broke their winning streak. Electric car making companies are benefiting a lot from these hard times, and shares of Tesla Inc, NIO, Workhorse are witnessing a notable upward trend from the last few days.
During yesterday’s trading day, shares of NIO soared up by 22%, and tesla’s shares also went up by 13.47%. Tesla has been the most profitable stock on the wall street market during the last five days because the shares of this company soared up by 42.9%. Tesla, which was lagging behind a few days ago, and the founder Elon Musk trying to convince the local government to let workers work during a pandemic faced lots of controversies.
The electric car-making company has fully received the benefits of working hard during hard times. Tesla’sTesla’s shares prices closed at a skyrocketing price of $1371.78 during the day trading. The main reason why Tesla stock went up was the successful second-quarter report of this company. Electric car making company revealed in its quarterly report they managed to deliver more than 90650 vehicles compared to the anticipation of only 72000. The company has beaten Analysts’Analysts’ expectations of sales data, and the founder Elon Musk is quite happy with these results. Analysts are favoring Tesla’sTesla’s stocks and urging investors to either hold or buy it.
Paul is an American-based writer covering Latest business trends. Paul cover Business and media for many news sites. He has been breaking news and writing features on these topics for major publications since 2012. Paul prefers writing about business news keeping science and technology into perspective.