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Why Lucid Group, ChargePoint, and Blink Charging Surged Again Today

TheMotleyFool

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Why Lucid Group, ChargePoint, and Blink Charging Surged Again Today: https://g.foolcdn.com/editorial/images/755262/lucid_motors_air_ev_electric_car_source_lucid.jpg

Shares of EV-related companies Lucid Group (NASDAQ: LCID), ChargePoint (NYSE: CHPT), and Blink Charging (NASDAQ: BLNK) were rallying Wednesday, up 4%, 3%, and 8%, respectively, as of 1:33 p.m. ET.

These electric vehicle (EV)-related stocks are highly sensitive to interest rates. That means yesterday's softer-than-expected October Consumer Price Index (CPI) lit a fire under each, and that rally was followed through today by today's much softer-than-expected Producer Price Index (PPI) data.

The common denominator across these companies is that they each play into the electric vehicle space, and each are losing money as they invest in what they believe to be a large future market.

Source Fool.com

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