Why Auto Stocks Popped (And Then Dropped) This Week
The auto market has had a wild week as investors poured into, and then out of, EV stocks and high-risk names.
The three notable moves were Quantumscape (NYSE: QS), (NYSE: CVNA), and Fisker (NYSE: FSR), which all jumped double digits at some point this week. According to data provided by S&P Global Market Intelligence, Quantumscape was up as much as 18% this week, Carvana popped 40.2%, and Fisker rose 12.5%.
But the highs didn't stick for these stocks. At 2:00 p.m. ET, shares of the companies were up 11.2%, 26.6%, and 1.3% respectively for the week on Friday afternoon.
Source Fool.com
Carvana Co. Stock
€101.30
5.350%
Our community is currently low on Carvana Co. with 3 Buy predictions and 7 Sell predictions.
A target price of 33 € results in a potential of -67.42% which would mean heavy losses compared to the current price of 101.3 € for Carvana Co..
