The Future?, page-639

The iShares Global Clean Energy ETF has gained nearly 20% this week and 190% in the last 12 months.

American depository receipts of Nio Inc. a China-based EV maker, rose nearly 11% in the week and more than a 1,500% in the past 12 months.

“A Blue Senate is very bullish and a potential ‘game changer’ for Tesla and the overall EV sector, with a more green-driven agenda now certainly in the cards for the next few years,” Wedbush analyst Dan Ives said in a note Thursday.

“We believe a doubling down on EV tax credits and further consumer incentives and government initiatives around the EV sector will be on the horizon which is a major positive” for Tesla as well as General Motors Co. privately held Rivian , Fisker Inc. and other EV-related companies, he said.

Tesla was added to the S&P 500 index Dec. 21.

The stock fell in that session and the next, but has been on an upward trajectory ever since.

The stock has gained more than 750% in the past 12 months, compared with gains around 18% for the S&P.

The boost for Tesla shares came amid steep gains for shares of other EV-and EV-related companies and alternative-energy stocks in recent sessions, as investors bet that a Democrat-controlled Senate will prioritize clean-energy policies.



Food for thought

Bottoms Up

Cheers

Frank