Why Fisker, Nikola, and QuantumScape Stocks Were Surging This Week
Shares of several emerging electric-vehicle (EV) companies -- all former highfliers that had faded -- enjoyed a resurgence this past week. There was no big news driving the price action; rather, investors (or at least traders) seemed to be revisiting stocks that had once been favored by Reddit's WallStreetBets group.
All three of these companies' stocks are still down sharply from their 52-week highs, but all had a nice run from the beginning of the week through Thursday's close.
None of these companies had any big news to report this past week -- or any news at all, really. A prominent Wall Street analyst, Adam Jonas of Morgan Stanley, did say positive things in passing about Fisker and QuantumScape (and several other companies in the EV space) in a note released on Tuesday. But it wasn't the kind of thing that you'd expect to serve as a catalyst for these strong upward price moves.
Source Fool.com
