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Electric Vehicle, RV Stocks Could Benefit as Interest Rate Worries Fade

The following is a stocks report from Seeking Alpha.

Electric vehicle, RV and boating stocks rallied on Wednesday, Dec. 6, as investors warmed back up to some beat-up names.

The recreational vehicle and boating sectors motored higher after THOR Industries (NYSE:THO) posted better-than-feared Q1 numbers and reiterated its prior full-year guidance. Those names may also be getting a lift from the recent drop in yields, which is seen helping support affordability in 2024 as consumers look toward financing options.

The biggest advancer was NIO (NIO) +9.56% after a report indicated that a spinoff of the Chinese company’s battery production unit is in the works. A risk-on market sentiment has also contributed to gains for Rivian Automotive (RIVN) +9.44%, Lucid Group (LCID) +7.88%, Canoo (GOEV) +7.62%, VinFast Auto (VFS) +5.33%, Polestar Automotive (PSNY) +4.44%, and XPeng (XPEV) +3.88%. Tesla (TSLA) is not sitting still, with a 2.49% increase on the board.

Gainers included Marine Products Corp (MPX) +6.70%, BRP (DOOO) +4.88%, THOR Industries (THO) +4.80%, Polaris (PII) +4.15%, Winnebago (WGO) +3.75%, MarineMax (HZO), +3.66%, LCI Industries (LCII) +3.59%, Brunswick (BC) +3.48%, and MasterCraft Boat Holdings (MCFT) +2.74%. The improved sentiment on outdoor-related names also helped push up Camping World Holdings (CWH) 2.99% and Dick’s Sporting Goods (DKS) +2.22%. Harley-Davidson (HOG) was also out in front of the broad market with a 3.37% swing higher.

See the full report from Seeking Alpha here.

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