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While Nvidia’s (NVDA) fiscal Q4 earnings and the Fed’s meeting minutes will dominate the headlines this week, as well as investors’ minds, electric vehicle (EV) stocks will also be in focus. Both Rivian Automotive (RIVN) and Lucid Motors (LCID) are set to release their earnings after the bell today, while Nikola (NKLA) will release its results tomorrow.
The EV sector has been out of favor with markets for quite some time now. Even the formidable Tesla (TSLA) is underperforming the markets in 2024, and trades at less than half of its 2021 highs. Things have been even bleaker for startup EV names, and Lucid Motors stock fell to new all-time lows last month.