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The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. Stocks are included in the Underlying Index based on the Index Providers evaluation that such companies will substantially benefit from a societal transition toward the use of cleaner energy, zero-CO2 renewables, and conservation.

Evgo Inc

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HAIL

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XPEV

La Mona M03 di XPeng sta conquistando il mercato con tantissimi ordini, influenzando positivamente il prezzo delle azioni del produttore.

Questa auto elettrica è molto popolare e spinge in alto il titolo

EVgo Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVGO#NASDAQ">EVGO</a>) shares are trading higher after the company reported&nbsp;third-quarter&nbsp;sales growth of&nbsp;92%&nbsp;year-on-year to&nbsp;$67.535&nbsp;million, beating the consensus <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41896481/evgo-inc-reports-record-third-quarter-2024-results" rel="noreferrer noopener">estimate of&nbsp;$65.952 million</a>.
Revenue growth&nbsp;was primarily driven&nbsp;by year-over-year&nbsp;increases in charging network&nbsp;and&nbsp;eXtend&nbsp;revenues.
EVgo&#8217;s network throughput for the quarter was 78&nbsp;Gigawatt-hours (GWh), a&nbsp;growth of 111%&nbsp;year-over-year.
The company added over 147,000&nbsp;new customer accounts during the&nbsp;third quarter, bringing the overall number of customer accounts to more than 1.2 million at quarter end.
Adjusted gross profit for the quarter was&nbsp;$18.0 million&nbsp;versus&nbsp;$9.3 million&nbsp;last year. Adjusted gross margin expanded 20&nbsp;basis points to&nbsp;26.6% in the quarter.
Adjusted EBITDA loss was&nbsp;$8.9&nbsp;million versus&nbsp;a $14.2&nbsp;million loss last year. Loss per share of&nbsp;11 cents&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the analyst consensus loss estimate of&nbsp;12 cents.</a>
Badar Khan, EVgo&#8217;s CEO, said, &#8220;Our deployment team continued to meet demand head-on bringing a record number of stalls online in the third quarter. With our conditional commitment from DOE for a loan guarantee of up to $1.05 billion announced last month, EVgo is poised to lead the industry as the charging provider of choice.&#8221;
The company added more than 270 new DC fast charging stalls in the quarter, including EVgo eXtend stalls. Ended the quarter with over 3,680&nbsp;stalls in operation, including EVgo eXtend stalls.
EVgo held&nbsp;$153.4 million&nbsp;in cash, cash equivalents and, restricted cash as of September-end.
Outlook&nbsp;Revised: EVgo raised the midpoint of its FY24 total revenue guidance by $2.5 million, now expecting between $250 million and $265 million (vs. consensus of $257.34 million) compared with the prior range of <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">$240 million to $270 million</a>.
Investors can gain exposure to the stock via SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: EVGO shares are up 22% at $6.59 premarket at the last check Tuesday.
Photo: Courtesy of EVgo, Inc.
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</ul>

Earnings

Guidance

Small Cap

EVGO

SIMS

EVgo Q3 Sales Surge 92% As Charging Revenues And Customer Growth Drive Performance; Stock Jumps

XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Tuesday.</a>
Shares of U.S.-listed Chinese stocks are trading lower after China&#8217;s September exports missed estimates. Concerns over the effectiveness of&nbsp;China&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/10/41329479/alibaba-nio-jd-com-and-other-us-listed-china-stocks-tumble-as-investors-await-clarity-on-fiscal-stim" rel="noreferrer noopener">latest stimulus measures</a> have also rattled investors.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, XPEV stock has lost over 25% in the past year. Investors can gain exposure to the stock via Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) and Global X Autonomous &amp; Electric Vehicles ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DRIV#NASDAQ">DRIV</a>).
The electric vehicle maker saw its stock decline alongside other Chinese companies, amid doubts that&nbsp;Beijing&#8217;s recent economic support package will significantly boost growth.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/10/41338223/why-nio-stock-is-moving" rel="noreferrer noopener">Why NIO Stock Is Moving</a>
Meanwhile, XPeng&#8217;s latest electric sedan, the P7+, is reportedly receiving positive early feedback, as evidenced by robust pre-order figures.
Within just 1 hour and 48 minutes of starting pre-sales, orders for the P7+ exceeded 30,000 units, <a target="_blank" href="https://cnevpost.com/2024/10/15/xpeng-p7-plus-30000-pre-orders-2-hours/" rel="noreferrer noopener">reported</a> CnEV Post, citing an announcement on Weibo.
Xpeng launched the model for European consumers in Paris, France. The company also announced that pre-sales for the model have commenced in China, with a starting price of RMB 209,800 ($29,600).
The pre-sale starting price of the P7+ is RMB 22,100, or 9.5% lower than the RMB 231,900 starting price of Tesla&#8217;s Model 3 in China, the report read.
However, Xpeng chairman and CEO He Xiaopeng stated that the model is designed to compete with vehicles in the RMB 300,000 price range, CnEV Post added.
The P7+ is a mid-to-large electric sedan measuring 5,056 mm in length, 1,937 mm in width, and 1,512 mm in height, with a 3,000 mm wheelbase, which makes it bigger than the Xpeng P7i sedan.
Price Action: XPEV shares are trading lower by 2.28% to $11.38 at last check Tuesday.
Photo via Shutterstock
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41331839/financial-sector-hits-record-highs-as-goldman-sachs-bank-of-america-citi-beat-q3-ea" target="_blank" rel="noreferrer noopener">Financial Sector Hits Record Highs As Goldman Sachs, Bank of America, Citi Beat Q3 Earnings Expectations</a></li>
</ul>

Markets

General

DRIV

What's Going On With XPeng Stock Today?

XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares are trading higher<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener"> on Tuesday.</a>
In fact, shares of U.S.-listed Chinese companies are trading higher after <a target="_blank" href="https://www.benzinga.com//node/41004045" rel="noreferrer noopener">China Central Bank announced a new stimulus package.</a>
Xpeng has formed a dealership agreement to penetrate the Qatari market, advancing its global presence, <a target="_blank" href="https://cnevpost.com/2024/09/23/xpeng-signs-dealer-deal-enter-qatar/" rel="noreferrer noopener">reported</a> CnEV Post. The pact designates Pioneer Motors, part of Qatar&#8217;s Almana Group, as its collaborator in this initiative.
According to a <a target="_blank" href="https://www.scmp.com/business/china-business/article/3279572/chinese-ev-maker-xpeng-adds-qatar-export-list-amid-price-war-home" rel="noreferrer noopener">report</a> by the South China Morning Post, by year&#8217;s end, motorists in Qatar will have the opportunity to purchase various all-electric Xpeng models featuring autonomous driving technology, such as the P7 sedan and G6 SUV.
Also Read:<a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/41004167/ready-for-the-road-ford-opens-orders-for-2025-f-series-super-duty-truck" rel="noreferrer noopener"> Ready For The Road &#8211; Ford Opens Orders For 2025 F-Series Super Duty Truck</a>
South China Morning Post added that Latin America, the Middle East, and Southeast Asia are emerging as significant markets for Chinese electric vehicle manufacturers regarding exports and production sites, citing a report published by Moody&#8217;s in late August.
These areas exhibited reduced geopolitical risks, and their electric vehicle adoption is increasing as their gross domestic product per capita rises and their climate change efforts advance, the report noted.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, XPEV stock has lost over 39% in the past year. Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Smart Mobility ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>) and&nbsp;Invesco WilderHill Clean Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: XPEV shares are trading higher by 7.17% to $10.25 at last check Tuesday.
Photo via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/40996835" target="_blank" rel="noreferrer noopener">XPeng Touches Production Milestone Of 500K EVs: Here&#8217;s How Many Electric Cars The Chinese Company Has Delivered</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

LOUP

What's Going On With XPeng Shares Today?

XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares are trading higher premarket Thursday. The company disclosed that XPENG Motors will showcase its latest technologies and solutions at the <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40933214/xpeng-to-unveil-the-future-of-ai-mobility-in-europe-at-paris-motor-show-2024" rel="noreferrer noopener">Paris Motor Show 2024 in October</a>.
The company plans to unveil its latest innovations, including the Tianji XOS 5.4 smart in-car operating system, designed for the European market.
This system highlights XPENG's vision for adaptive, AI-driven driving experiences in Europe.
The company will also showcase its next-generation smart cockpit with advanced personalization options and frequent OTA updates.
Brian Gu, Vice Chairman and President at XPENG, said, &#8220;The European automotive market is undergoing a transformation from electrification to smartification. At the Paris Motor Show, we are not only showcasing highlights from our vehicle portfolio, but also new solutions that we will be integrating in our car models.&#8221;
XPENG said it looks forward to further expanding its European footprint with cutting-edge technology and AI-powered solutions.
This month, the company&nbsp;reportedly asked suppliers to ramp up parts capacity as the M03, the first model in its <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40794637/whats-going-on-with-xpeng-stock-today" rel="noreferrer noopener">Mona lineup, gains popularity</a>.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, XPEV stock has lost around 50%&nbsp;in the past year. Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Smart Mobility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: XPEV shares are up 6.94% at $9.24 premarket at the last check Thursday.
Photo via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40866380/tesla-china-shines-lucid-gives-peek-into-model-y-rival-ford-eyes-electric-restart-in-india-and-m" target="_blank" rel="noreferrer noopener">Tesla China Shines, Lucid Gives Peek Into Model Y Rival, Ford Eyes &#8216;Electric&#8217; Restart In India And More: Biggest EV Stories Of The Week</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mid Cap

What's Going On With XPeng Shares Premarket Thursday?

XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) shares are trading relatively flat in the <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">morning session on Tuesday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, XPEV stock has lost over 53% in the past year. Investors can gain exposure to the stock via&nbsp; SPDR S&amp;P Kensho Smart Mobility ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>) and Invesco WilderHill Clean Energy ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
The company&nbsp;is reportedly asking suppliers to ramp up parts capacity as the M03, the first model in its Mona lineup, gains popularity.
Xpeng recently adjusted its production schedule, asking suppliers to respond quickly to boost production capacity and delivery efficiency for the Mona M03, <a target="_blank" href="https://cnevpost.com/2024/09/10/xpeng-asks-suppliers-boost-capacity-mona-m03-orders-2000-per-day/" rel="noreferrer noopener">reported </a>CnEV Post.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40646699/teslas-china-woes-just-got-worse-xpengs-model-3-killer-receives-over-30k-orders-in-48-hours-of-l" rel="noreferrer noopener">Tesla&#8217;s China Woes Just Got Worse: XPeng&#8217;s Model 3 Killer Receives Over 30K Orders In 48 Hours Of Launch</a>
The recent daily orders for the Mona M03 have surpassed 2,000 units, following 30,000 confirmed orders within 48 hours of the model&#8217;s launch.
&#8220;The voyage of the Mona M03 has just begun and we are confident about the future,&#8221; Xpeng told supplier partners, CnEV Post added.
Xpeng plans to introduce new models or updates each quarter, emphasizing that a robust and efficient supply chain is crucial to its success.
The Mona M03 electric sedan, launched on August 27, is available in three variants priced at RMB 119,800 ($16,830), RMB 129,800, and RMB 155,800, respectively. This is below the previously anticipated price of RMB 135,900, making it Xpeng&#8217;s most affordable model, about half the price of Tesla&#8217;s Model 3.
Following its launch, the Mona M03 received over 10,000 firm orders within the first 52 minutes, CnEV Post added.
Price Action: XPEV shares are trading higher by 0.24% to $8.541 at last check Tuesday.
Photo via Shutterstock
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</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

XPeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">shares are trading lower on Friday</a>.
Xpeng Aeroht, the flying car division of Xpeng, reported receiving over 1,000 pre-orders for its modular flying car, despite official pre-sales not having started yet, <a target="_blank" href="https://cnevpost.com/2024/09/06/xpeng-aeroht-over-1000-pre-orders-modular-flying-car/" rel="noreferrer noopener">reported</a> CnEV Post.
The company revealed this milestone today, crediting the early orders to pioneering customers. According to the report, the company has now garnered over 3,000 intended orders for the product.
On September 4, Xpeng Aeroht conducted a private meeting with key partners and held an advance booking signing ceremony for the product on the same day, CnEV Post added.
The day before the communication session, Xpeng Aeroht showcased its modular flying car, known as a land carrier, for the first time at an event.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39162311/future-of-travel-xpeng-aeroht-teams-up-with-autoliv-for-flying-car-safety-tech" rel="noreferrer noopener">Future Of Travel: XPENG AEROHT Teams Up With Autoliv For Flying Car Safety Tech</a>
The company plans to start mass production and deliveries of the modular flying car in 2026, with a price capped at RMB 2 million ($280,000).
Xpeng Aeroht will conduct the car&#8217;s first public manned flight at the Zhuhai Airshow in November and will also display it at the Guangzhou auto show later in the month.
Pre-sales for the product are set to begin in late 2024, with mass production and deliveries scheduled for 2026, according to founder and president Zhao Deli.
This new production timeline is a delay from the earlier plan, which had pre-orders starting in the fourth quarter of this year and mass production and delivery set for the fourth quarter of 2025.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, XPEV stock has lost over 54% in the past year. Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Smart Mobility ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAIL#NYSE">HAIL</a>) and&nbsp;Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: XPEV shares are trading lower by 2.38% to $8.62 at last check Friday.
Photo by Koshiro K on Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40741279/ai-tech-sector-is-not-in-a-bubble-but-diversification-out-of-magnificent-7-is-key-g" target="_blank" rel="noreferrer noopener">AI Tech Sector ‘Is Not In A Bubble,' But Diversification Out Of Magnificent 7 Is Key, Goldman Sachs Says</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) shares are trading higher today. The company introduced an AI-powered driver support tool designed to diagnose and repair electric vehicle <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40619071/chargepoint-releases-industry-first-ai-solution-to-enhance-driver-support-and-improve-network-reli" rel="noreferrer noopener">(EV) charging stations quickly</a>.
This new software, which is a first in the EV charging industry, uses AI to identify physical issues and enhance charger uptime.
The software allows drivers to report nonfunctional charging stations by submitting photos via the ChargePoint app. It analyzes the images and sends the findings to ChargePoint&#8217;s Network Operations Center, reducing the need for on-site inspections and speeding up issue resolution.
Rick Wilmer, CEO of ChargePoint said, &#8220;This technology will enable us to triage and resolve physical issues that cannot not be detected via remote monitoring, demonstrating our commitment to innovations which deliver a reliable charging network.&#8221;
Recently, the company has been collaborating with major automakers across the globe for advancement in EV charging solutions.
This week, the company partnered with&nbsp;Daimler Buses&nbsp;to integrate its telematics and charge management systems with&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40577138/chargepoint-and-daimler-buses-team-up-for-ev-charging-solutions" rel="noreferrer noopener">Mercedes-Benz and Setra brand buses</a>.
In July, the company and Porsche Cars North America partnered to integrate charging services. The collaboration will increase the number of chargers available to Porsche customers to&nbsp;<a target="_blank" href="https://www.benzinga.com//node/39315235" rel="noreferrer noopener">more than 100,000 across North America</a>.
Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: CHPT shares are up 3.11% at $1.825 at the last check Thursday.
Photo via <a href="https://commons.wikimedia.org/wiki/File:Chargepoint_Electric_Vehicle_%28EV%29_Charging_Station,_Dakota_County,_Minnesota_%2841490006075%29.jpg">Wikimedia Commons</a>
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40608581/chargepoint-faces-tough-q3-outlook-amid-industry-headwinds-says-analyst" target="_blank" rel="noreferrer noopener">ChargePoint Faces Tough Q3 Outlook Amid Industry Headwinds, Says Analyst</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

CHPT

ChargePoint Leads The Charge: AI-Powered Repair Tool Aims To Fix EV Chargers Faster

ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) shares are trading lower today. J.P.Morgan analyst Bill Peterson outlined key expectations for the company, including guidance and industry trends, ahead of the company&#8217;s second-quarter <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">earnings release on September 4th</a>.
The analyst expects ChargePoint&#8217;s results to align with guidance but anticipates third-quarter guidance may fall below consensus due to industry headwinds and a cautious near-term outlook.
While the second half could show improvement, management must clarify its profitability path under various demand scenarios, especially if revenue growth remains flat or declines, says the analyst.
Peterson adds that investor skepticism is rising as peers in the U.S. and Europe report negative trends, with no recovery in the non-China EV market.
The analyst further writes that investor sentiment could improve if management confirms that the first half represents the year&#8217;s trough, supported by typical seasonality and slower commercial customer deployments, along with positive growth prospects heading into 2025.
The analyst maintained an Overweight rating for the company, seeing upside potential if management successfully <a target="_blank" href="https://www.benzinga.com/quote/CHPT/analyst-ratings" rel="noreferrer noopener">executes in this difficult market</a>.
Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: CHPT shares are down 3.54% at $1.7650 at the last check Wednesday.
Photo via <a href="https://commons.wikimedia.org/wiki/File:Chargepoint_Electric_Vehicle_%28EV%29_Charging_Station,_Dakota_County,_Minnesota_%2841490006075%29.jpg">Wikimedia Commons</a>
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40577138/chargepoint-and-daimler-buses-team-up-for-ev-charging-solutions" target="_blank" rel="noreferrer noopener">ChargePoint And Daimler Buses Team Up For EV Charging Solutions</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Analyst Color

Reiteration

Analyst Ratings

Trading Ideas

ChargePoint Faces Tough Q3 Outlook Amid Industry Headwinds, Says Analyst

ChargePoint Holdings, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) partnered with Daimler Buses to integrate its telematics and charge management systems with <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40568351/chargepoint-and-daimler-buses-partner-to-enable-seamless-integration-of-vehicle-telematics-solutio" rel="noreferrer noopener">Mercedes-Benz and Setra brand buses</a>.
ChargePoint&#8217;s systems optimize fleet operations with real-time data, enabling efficient EV scaling. The Daimler Buses partnership ensures fast onboarding and provides fleet managers with tools for monitoring, insights, and reporting through a single interface.
Uwe Münch, Director for Bus &amp; Transit, Europe, at ChargePoint, said, &#8220;Over 9,500 buses use the ChargePoint fleet management system globally, many of which are made by Daimler Buses. With this new partnership, customers of both brands benefit from enhanced software to optimise their pure electric and mixed fuel fleets.&#8221;
Recently, the company has been collaborating with major automakers across the globe to expand its EV charging solutions.
In July, the company and Porsche Cars North America partnered to integrate charging services. The collaboration will increase the number of chargers available to Porsche customers to <a target="_blank" href="https://www.benzinga.com//node/39315235" rel="noreferrer noopener">more than 100,000 across North America</a>.
This month, ChargePoint announced the launch of ChargePoint&nbsp;Omni Port, an EV connector solution that ensures any EV can charge in any parking space, regardless of its connector type, and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/40263569" rel="noreferrer noopener">without an expensive additional cable</a>.
Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: CHPT shares are down 0.54% at $1.83 premarket at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40528122/ev-demand-drops-investors-scrutinize-battery-stocks-whats-in-store-for-chargepoint-" target="_blank" rel="noreferrer noopener">EV Demand Drops, Investors Scrutinize Battery Stocks: What&#8217;s In Store For ChargePoint, EVgo, Piedmont Lithium?</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Don&#8217;t miss the opportunity to dominate in a volatile market at the <a href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" target="_blank" rel="noreferrer noopener">Benzinga SmallCAP Conference</a> on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!

Contracts

ChargePoint And Daimler Buses Team Up For EV Charging Solutions

ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Thursday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, CHPT stock has lost over 78% in the past year. Investors can gain exposure to the stock via&nbsp;SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Yesterday, the company&#8217;s peer Blink Charging Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLNK#NASDAQ">BLNK</a>) reported <a target="_blank" href="https://www.benzinga.com//node/40256533" rel="noreferrer noopener">worse-than-expected second quarter financial results.</a>
Today, ChargePoint announced the launch of ChargePoint&nbsp;Omni Port, an EV connector solution that ensures any EV can charge in any parking space, regardless of its connector type, and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40249778/chargepoint-eliminates-ev-charging-connector-confusion-with-omni-port-adaptable-charging-solution" rel="noreferrer noopener">without an expensive additional cable.</a>
&#8220;With Omni port, ChargePoint solved the challenges associated with a multiple connector environment, ensuring Tesla and non-Tesla drivers can continue to expect a world-class driver experience,&#8221; said Rick Wilmer, CEO of ChargePoint.
Also Read<a target="_blank" href="https://www.benzinga.com/markets/asia/24/08/40247022/asia-mixed-europe-markets-dip-crude-falls-below-75-and-dollar-slips-global-markets-today-while-us-sl" rel="noreferrer noopener">: Asia Mixed, Europe Markets Dip; Crude Falls Below $75 And Dollar Slips – Global Markets Today While US Slept</a>
Omni Port removes the need for drivers to carry an adapter and eliminates the need for dedicated parking spots for specific connector types.
The company said Omni Port is the sole public solution addressing North America&#8217;s EV connector issues for both AC and DC charging.
It allows drivers of any vehicle make to use the same charging station by integrating the most common connector types into each port.
The company said it is included at no extra charge as a standard feature with ChargePoint&#8217;s compatible chargers.
Omni Port will begin shipping by the end of the year, and can be retrofitted onto ChargePoint CP6000 and Express Plus Power Link 2000 models at a nominal cost.
Price Action: CHPT shares are trading higher by 9.44% to $1.74 at last check Thursday.
Photo via <a href="https://commons.wikimedia.org/wiki/File:Chargepoint_Electric_Vehicle_%28EV%29_Charging_Station,_Dakota_County,_Minnesota_%2841490006075%29.jpg">Wikimedia Commons</a>
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</ul>

BLNK

What's Going On With ChargePoint Stock Today?

ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) shares are <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Thursday.</a>
The company said in a press release that it now enables drivers to charge at more than one million places across public, private, and roaming ports in <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39955518/chargepoint-reaches-milestone-of-providing-more-than-one-million-places-for-ev-drivers-to-charge" rel="noreferrer noopener">North America and Europe.</a>
The ChargePoint network has also enabled more than 10 billion electric miles to date.
&#8220;With more EVs on the road, ensuring drivers have access to reliable charging everywhere they need it is imperative,&#8221; said Rick Wilmer, CEO of ChargePoint.
With the expanding EV market, the demand for charging stations is rising. ChargePoint said its mobile app facilitates locating, using, and paying for charging across its extensive network of over one million stations, ensuring convenience wherever drivers need it.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39964869/keurig-dr-pepper-beats-revenue-expectations-in-q2-with-3-5-growth-our-consumer-centric-innovation-m" rel="noreferrer noopener">Keurig Dr Pepper Beats Revenue Expectations In Q2 With 3.5% Growth &#8211; &#8216;Our Consumer-Centric Innovation Model Is Resonating In Market&#8217;</a>
In the past year alone, it has supported approximately four billion of those miles, underscoring the accelerating demand for EV charging solutions.
&#8220;Enabling access to more than one million ports, on a network that has enabled more than ten billion electric miles to be driven, underscores ChargePoint&#8217;s commitment to delivering a world-class driver experience,&#8221; Wilmer added.
According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, CHPT stock has lost over 74% in the past year. Investors can gain exposure to the stock via SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
<h2 class="wp-block-heading">Is CHPT A Good Stock To Buy?</h2>
Wall Street analysts view ChargePoint on the whole as a Buy, given the history of coverage over the past three months. Michael Legg from Benchmark in ChargePoint Hldgs is the most bearish, expecting a 29.41% fall in the stock in the coming year.
But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, ChargePoint Hldgs rose 61.49%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which fell 17.68% over the past year.
A complete overview of how Wall Street views individual stocks is available <a href="https://www.benzinga.com/analyst-stock-ratings">here</a>, while real time updates on the latest analyst actions will be delivered via <a href="https://pro.benzinga.com">Benzinga PRO</a>. Try it for free.
Price Action: CHPT shares are trading higher by 6.23% to $2.05 at last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Wikimedia Commons
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</ul>

Why Is ChargePoint Stock Gaining Today?

Inflation in the United States cooled down in June for the third consecutive month. The Consumer Price Index rose just 3% year over year last month, down from an annual growth of 3.3% in May. On a monthly basis, the index declined 0.1% from May&#39;s flat reading. This marked the first monthly drop in inflation since 2020 and the slowest annual price gain since March 2021.
The so-called core inflation, which strips out volatile components such as food and energy prices, rose only 0.1% over the prior month, the lowest monthly core reading since August 2021, and 3.3% from the year-ago month. Both numbers are down from May&#39;s reading of 0.2% monthly growth and 3.4% annual growth.
Following the encouraging inflation data, markets priced in a roughly 89% chance that the Fed will begin to cut rates at its September meeting, up from 75% a day prior, according to data from the CME Group. This has deepened the market&#39;s confidence that the Fed would begin cutting interest rates in September, leading to a sector rotation from the hot technology sector to the laggards that could benefit from falling rates like industrials and small caps.
In particular, the small-cap Russell 2000, which has significantly lagged this year, jumped 3.4% to a more than three-month high. The S&amp;P 500 real Estate index jumped 2.8%, trimming its year-to-date losses to 1%. As such, ETFs from some beaten-down corners of the market saw smooth trading following the inflation data. These include iShares U.S. Home Construction ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/itb#BATS">ITB</a>), Invesco WilderHill Clean Energy ETF (ARCA:PBW), Virtus LifeSci Biotech Clinical Trials ETF (ARCA:BBC), iShares Micro-Cap ETF (ARCA:IWC) and SPDR S&amp;P Regional Banking ETF (ARCA:KRE).
<h3>Why Sector Rotation?</h3>
Small-cap stocks surged amid expectations that rate cuts would improve conditions for these companies. This is especially true as lower rates will lead to reduced borrowing costs, which help businesses expand their operations more easily, resulting in increased profitability. Many small and mid-caps companies have more floating debt than their larger counterparts.
High-dividend-yield sectors such as utilities and real estate will be the biggest beneficiaries of the rate cuts, given their sensitivity to interest rates. This is especially true as these offer higher returns due to their outsized yields. In real estate, lower rates can boost housing market activity by making mortgages more affordable. Additionally, securities in capital-intensive sectors like telecom will also benefit from lower rates. Businesses will also face lower loan rates over time.
Lower rates will also have a positive impact on consumer discretionary and financial services. Reduced borrowing costs can lead to increased consumer spending for consumer discretionary sectors. In the financial sector, while lower rates can compress net interest margins for banks, they can also encourage lending and potentially lead to increased consumer and business loan activity.
<h3>ETFs in Focus</h3>
iShares U.S. Home Construction ETF &ndash; Up 6.2%
iShares U.S. Home Construction ETF provides exposure to U.S. companies that manufacture residential homes by tracking the Dow Jones U.S. Select Home Construction Index.
With an AUM of $2.5 billion, iShares U.S. Home Construction ETF holds a basket of 44 stocks, with a heavy concentration on the top two firms. The product charges 40 bps in annual fees and trades in a heavy volume of around 2 million shares a day, on average. iShares U.S. Home Construction ETF has a Zacks ETF Rank #3 (Hold) with a High risk outlook.
Invesco WilderHill Clean Energy ETF &ndash; Up 5.8%
Invesco WilderHill Clean Energy ETF offers exposure to companies that are publicly traded in the United States and engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 71 stocks in its basket.
Invesco WilderHill Clean Energy ETF has amassed $296.2 million in its asset base and trades in a solid volume of around 383,000 shares a day. It charges investors 66 bps in fees per year.
Virtus LifeSci Biotech Clinical Trials ETF &ndash; Up 5.4%
Virtus LifeSci Biotech Clinical Trials ETF offers exposure to companies with promising drugs in clinical human trials that have not yet been approved by the FDA or gone into production. It follows the LifeSci Biotechnology Clinical Trials Index and holds 104 securities in its basket, with none accounting for more than 2.9% share.
Virtus LifeSci Biotech Clinical Trials ETF amassed $10.5 million in its asset base and charges 79 bps in fees per year from its investors. It trades in an average daily volume of 4,000 shares and carries a Zacks ETF Rank #2 (Buy) with a High risk outlook.
iShares Micro-Cap ETF &ndash; Up 4.9%
iShares Micro-Cap ETF offers exposure to very small public U.S. companies by tracking the Russell Microcap Index. It holds a large basket of 1,476 stocks with each accounting for no more than 0.5% of assets. IWC has key holdings in healthcare, financials, industrials and information technology with double-digit exposure each.
iShares Micro-Cap ETF has amassed $788.3 million in its asset base and trades in a volume of 27,000 shares a day on average. It has a Zacks ETF Rank #3 with a High risk outlook.
SPDR S&amp;P Regional Banking ETF &ndash; Up 4.2%
SPDR S&amp;P Regional Banking ETF provides exposure to the regional banks segment by tracking the S&amp;P Regional Banks Select Industry Index. It holds 141 stocks in its basket, with each accounting for no more than 2.4% of the assets.
SPDR S&amp;P Regional Banking ETF has AUM of $2.4 billion and charges 35 bps in annual fees. It trades in an average daily volume of 12 million shares and has a Zacks Rank #4 (Sell) with a High risk outlook.
<a href="https://www.zacks.com/stock/news/2300847/inflation-cools-in-june-triggers-spike-in-laggard-etfs?cid=CS-BENZ-FT-etf_news_and_commentary-2300847">To read this article on Zacks.com click here.</a>

Sector ETFs

ETFs

iShares Dow Jones US Homenstruction Index Fund

Inflation Cools in June, Triggers Spike in Laggard ETFs

ChargePoint Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) shares are trading <a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">higher on the bourses Thursday.</a>
The company announced the appointment of a Chief Financial Officer, Chief Development Officer for Software, and a new member of the Board of Directors.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, CHPT stock has lost over 78% in the past year. Investors can gain exposure to the stock via SPDR S&amp;P Kensho Intelligent Structures ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>) and&nbsp;Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Mansi Khetani has been appointed Chief Financial Officer, effective July 9, 2024. Khetani has been with ChargePoint since 2018, previously leading Financial Planning and Analysis efforts before becoming interim CFO in November 2023.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39266845/xpengs-mona-sub-brand-following-nios-onvo-launches-debut-model-m03-powered-by-byd-batteries" rel="noreferrer noopener">XPeng&#8217;s Mona Sub-Brand Following NIO&#8217;s Onvo? Launches Debut Model M03 Powered By BYD Batteries</a>
Ash Chowdappa has joined ChargePoint as Chief Development Officer for Software, where he will lead the Software team across all regions, products, and segments.&nbsp;
Mitesh Dhruv has joined ChargePoint&#8217;s Board and will serve as a member of the Audit Committee.&nbsp;
&#8220;Each brings unique capabilities that will help us continue to make ChargePoint the platform of choice for everyone who wants to offer EV charging and they share a deep passion to build something that is better than all other alternatives,&#8221; said Rick Wilmer, CEO of ChargePoint.
Last month, the company inked a pact with LG Electronics&nbsp;to build a strategic partnership for<a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/b39376465/lg-and-chargepoint-join-forces-to-innovate-ev-charging" rel="noreferrer noopener"> future innovations in EV charging</a>.
The initial result of this partnership will be commercial charging solutions integrating ChargePoint&#8217;s top-tier charger management software with LG&#8217;s advanced EV charging hardware, which is set to commence deliveries later this summer.
Recently, the company also inked a pact with Porsche Cars North America that will increase the number of chargers available to Porsche customers to more than 100,000 across North America.
Price Action: CHPT shares are trading higher by 2.09% to $1.95 at last check Thursday.
Photo via Wikimedia Commons
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</ul>

Management

What's Going On With ChargePoint Shares Today?

Enovix Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) shares are jumping after the company signed a deal to supply silicon batteries and packs <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/g39474952/enovix-signs-agreement-to-deliver-high-performance-batteries-for-mixed-reality-headset" rel="noreferrer noopener">for mixed reality headsets</a>.
As per the terms, Enovix expects to receive an initial one-time payment for tooling to facilitate battery pack dimensions and subsequent payments for supplying both sample and production quantities. The financial terms were not disclosed.
Enovix&#8217;s high-performance batteries feature a proprietary architecture and manufacturing process that replaces graphite with a 100% active silicon anode, resulting in top-tier energy density.
Dr. Raj Talluri, President and CEO of Enovix, stated, &#8220;This agreement with a leading customer underscores the need for a better battery in the exciting mixed reality market and validates our strategy of focusing on stringent smartphone product requirements.&#8221;&nbsp;
&#8220;Our vertically integrated pack manufacturing, enhanced by the acquisition of Routejade, positions us to succeed in adjacent markets like IoT.&#8221;
Notably, in May, Enovix shipped the first samples of its EX-1M silicon batteries from its Fremont facility and by June, the company had started producing EX-1M battery samples at its Fab2 facility in Malaysia.
According to IDC, global shipments of virtual reality and augmented reality headsets are projected to increase to slightly above 35 million units by 2028 from nearly 10 million units in 2024.
Last month, the company reported quarterly sales of $5.272 million, beating the analyst consensus estimate of $3.779 million by 39.53% and losses of 31 cents per share, which missed the analyst consensus <a target="_blank" href="https://www.benzinga.com/news/earnings/24/05/38590611/whats-going-on-with-enovix-stock-after-earnings" rel="noreferrer noopener">estimate of losses of 29 cents by 6.9%</a>.
Enovix stock gained&nbsp;around 19%&nbsp;in the last 12 months. Investors can gain exposure to the stock via&nbsp;Tidal Trust II YieldMax Ultra Option Income Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ULTY#NYSE">ULTY</a>) and Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action: ENVX shares are up 30% at $15.65 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image from Shutterstock

ENVX

ULTY

Why Battery Company Enovix Stock Is Surging Today

As <a href="https://www.benzinga.com/topic/2024-presidential-election">the 2024 U.S. Presidential election</a> approaches, the energy sector stands at a crossroads. 
Potential shifts in policy could significantly impact both traditional and <a href="https://www.benzinga.com/topic/clean-energy">clean energy markets</a>.
According to <a href="https://markets.jpmorgan.com/research/email/scx/qijkd11j/LK2zzrWZCAlD7mRxHsWnxA/GPS-4675360-0">insights</a> from JPMorgan's Strategic Research team, the outcome of the election between incumbent President Joe Biden and Ex-President Donald Trump could lead to varying scenarios. 
Each of these scenarios has distinct implications for investors and companies in the sector.
<h3 class="wp-block-heading">1. Biden Presidency, Split Congress</h3>
<ul>
<li>Clean Energy: This scenario is seen as the lowest risk for the clean energy sector. A divided Congress would likely maintain the status quo, making it difficult to roll back or repeal the <a href="https://home.treasury.gov/news/press-releases/jy2376">Inflation Reduction Act</a> (IRA) incentives. This stability is favorable for companies relying on federal clean energy incentives. Under Biden, hundreds of billions of dollars were put toward <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/04/biden-harris-administration-announces-historic-20-billion-in-awards-to-expand-access-to-clean-energy-and-climate-solutions-and-lower-energy-costs-for-communities-across-the-nation/">incentives</a> for green energy.</li>
<li>Traditional Energy: The regulatory environment under Biden is expected to remain challenging, but stable. Companies have adapted to tighter regulations, which have not hindered record oil and gas output in the U.S. During Biden&#8217;s presidency, the U.S. <a href="https://www.eia.gov/todayinenergy/detail.php?id=61545">set a record</a> for crude oil production. In 2023, it outpaced what all other countries — including Saudi Arabia — have ever produced in one year. </li>
</ul>
<h3 class="wp-block-heading">2. Trump Presidency, Split Congress</h3>
<ul>
<li>Clean Energy: This scenario raises the risk profile slightly. A split Congress would make it challenging to repeal IRA incentives; Trump — who <a href="https://www.nytimes.com/interactive/2020/climate/trump-environment-rollbacks-list.html">rolled</a> back more than 100 pro-environmental policies during his administration — will likely slow their implementation by reducing funding to relevant departments. He may also impact grant and loan spending. </li>
<li>Traditional Energy: Trump — who <a href="https://apnews.com/article/trump-hannity-dictator-authoritarian-presidential-election-f27e7e9d7c13fabbe3ae7dd7f1235c72">vowed</a> to be a dictator on &#8220;day one&#8221; so he can &#8220;drill, drill, drill" — could ease regulations, potentially increase access to resources on federal lands and reduce regulations, thereby supporting more exports.</li>
</ul>
<h3 class="wp-block-heading">3. Trump Presidency, Republican Congress</h3>
<ul>
<li>Clean Energy: This is considered the highest-risk scenario for clean energy. A Republican majority could partially repeal the IRA through a reconciliation bill, particularly targeting unspent funds. However, full repeal is unlikely due to significant investments in Republican states.</li>
<li>Traditional Energy: The sector could benefit from reduced regulations and increased resource access. Policies encouraging more energy exports, such as LNG, could positively impact the long-term gas market.</li>
</ul>
JPMorgan did not explore the scenario of a Biden presidency and Democrat Congress.
Also Read: <a href="https://www.benzinga.com/news/24/05/39012457/enphase-stock-surges-amid-bidens-tariff-boost-on-chinese-solar-imports">Enphase Stock Surges Amid Biden&#8217;s Tariff Boost On Chinese Solar Imports</a>
<h3 class="wp-block-heading">Clean Energy Stocks</h3>
<ul>
<li>Valuation and Sentiment: Clean energy stocks, including those in electric vehicle (EV) charging and green hydrogen, have lagged due to weak fundamentals. Election outcomes could exacerbate this trend, especially under a Republican sweep.</li>
<li>Loan Programs: A Republican sweep might curtail the DOE Loan Programs Office's authority, negatively impacting companies seeking non-dilutive funding for capex-intensive projects.</li>
<li>Subsidies and Tariffs: Potential downsizing or repeal of subsidies for EVs and tightening of charging incentives are risks. However, protectionist measures like <a href="https://www.benzinga.com/markets/asia/24/05/38824198/biden-announces-massive-tariffs-on-chinese-imports-to-protect-us-industries-clean-energy-solar-stock">tariffs on Chinese imports</a> are likely to remain, regardless of the administration.</li>
</ul>
Investors in the iShares Global Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NYSE">ICLN</a>), the First Trust NASDAQ Clean Edge Green Energy Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NYSE">QCLN</a>) and the Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) must take heed of these observations.
<h3 class="wp-block-heading">Traditional Energy Stocks</h3>
<ul>
<li>Regulations: The Trump administration could ease regulations and increase resource access, but ongoing legal and political challenges could continue to <a href="https://www.benzinga.com/news/24/05/38997165/trumps-policies-for-money-transaction-with-big-oil-under-investigation-by-senate-democrats-cronyism">shape the regulatory landscape</a>.</li>
<li>Refiners: Refiners might benefit from the continuation of Trump-era corporate tax cuts. However, geopolitical tensions, such as those in the Middle East, could pose risks to crude supply and impact refiner margins.</li>
</ul>
Investors in the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), the Vanguard Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) and the Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) may want to adjust their positioning based on these observations.
<h3 class="wp-block-heading">Utility and Renewables </h3>
<ul>
<li>Regulated vs. Unregulated: Unregulated renewables are more sensitive to election outcomes, while regulated utilities are less affected. A Biden re-election could be a catalyst for renewables to regain ground lost in 2023.</li>
<li>IRA Resilience: Core utility and renewable energy provisions of the IRA are expected to be resilient, though a Trump victory could create uncertainty until policy clarity emerges.</li>
</ul>
See Also: <a href="https://www.benzinga.com/markets/esg/24/05/38759168/solar-is-leaving-wind-in-the-dust-as-world-renewable-energy-hits-new-high">Solar Is Leaving Wind In The Dust As Renewables Hit New High</a>
Utility sector investors such as those invested in the Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>), the Global X US Infrastructure Development ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAVE#NYSE">PAVE</a>) or the Vanguard Utilities ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VPU#NYSE">VPU</a>) must take note of such observation.
For those looking to get exposure to renewables, the ICLN, QCLN and PBW ETFs are popular capital market funds in the space.
<h3 class="wp-block-heading">Investment Considerations</h3>
Investors should monitor the evolving political landscape as the election approaches. The potential for policy shifts under different election scenarios underscores the importance of a diversified portfolio. 
As always, staying informed and agile in response to political developments will be key to navigating the energy sector&#8217;s challenges and opportunities in the run-up to the 2024 election.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/39082854/exclusive-will-trumps-possible-return-to-power-make-bitcoin-ethereum-go-boom-or-bus">EXCLUSIVE &#8211; Will Trump&#8217;s Possible Return To Power Make Bitcoin, Ethereum Go Boom Or Bust? Experts Weigh In On Crypto&#8217;s Regulatory Future</a>
Image: Shutterstock

Government

Regulations

Specialty ETFs

Politics

AMLP

iShares S&P Global Clean Energy Index Fund

ICLN

PAVE

First Trust NASDAQ Clean Edge Green Energy Index Fund

QCLN

What A Biden Or Trump Victory Might Mean For The Energy Sector

Wall Street experienced a muted session on Wednesday morning as traders adopted a cautious stance ahead of the Federal Reserve meeting minutes release at 2 p.m. EDT and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings announcement <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38958935/can-nvidia-live-up-to-the-hype-analyst-says-q1-earnings-anticipation-like-that-of-a">after the market close.</a>
The tech-heavy Nasdaq 100 gained 0.2%, slightly outperforming other major indices, with the S&amp;P 500 and the Dow both in negative territory by midday in New York.
Small caps, tracked by the iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>), fell by 0.4%.
Significant gains were observed in solar and clean energy industries. The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) surged nearly 9%, and the Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>) jumped 5%. These gains were likely driven by newly announced trade tariff modifications on solar manufacturing equipment by the United States Trade Representative.
Notably, First Solar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>) soared 16% to fresh all-time highs, on track for its top-performing session gains in over a year.
Treasury yields remained steady, while the U.S. dollar index (DXY) strengthened by 0.2%. Traders are currently pricing in a 42-basis-point reduction in Federal Reserve rates by year-end.
In the commodities markets, metals saw significant declines, with gold, silver and copper falling 1.2%, 2% and 4.9%, respectively, with copper particularly affected by reports of abundant inventories in China.
Natural gas prices rallied over 4%, while oil prices eased by 0.6%. In the cryptocurrency market, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remained flat at $70,400.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices </td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,745.23</td>
<td>0.2%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,318.84</td>
<td>0.0%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>39,809.02</td>
<td>-0.2%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,093.71</td>
<td>-0.3%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:03 EDT </figcaption></figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) was 0.1% lower to $530.75, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) fell 0.2% to $397.99 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) was up 0.1% to $456.34, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Among sectors, the Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) outperformed, up by 0.5%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged behind, dropping 1.8%, likely impacted by news of the Biden administration directing the Department of Energy to release 1 million barrels of <a href="https://www.benzinga.com/government/24/05/38966104/biden-plans-release-of-1-million-barrels-of-gasoline-to-curb-northeast-prices-because-hes-unable-to">gasoline from strategic reserves.</a>
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Other than First Solar, solar stocks rallying on Wednesday included Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) up 9%, SunPower Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>), up 28% and Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) up 27%. </li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) fell 3%, after the EV maker reported a decline in annual sales in Europe. </li>
<li>TJX Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TJX#NYSE">TJX</a>) rose 6% in reaction to quarterly earnings. </li>
<li>Other companies reacting to earnings were Analog Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADI#NASDAQ">ADI</a>), up 8.8%, Target Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>), down 7.5%, Williams-Sonoma Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSM#NYSE">WSM</a>), down 6.7%, Dycom Industries Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DY#NYSE">DY</a>), up 8.5%, Toll Brothers Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOL#NYSE">TOL</a>), down 7.2%, XP Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XP#NASDAQ">XP</a>), down 12%, Brady Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRC#NYSE">BRC</a>), up 8.8%, Golden Ocean Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOGL#NASDAQ">GOGL</a>), down 9.5% and ViaSat Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) down 15%.</li>
<li>Companies slated to report their earnings after the close include Nvidia Corp, Synopsys Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>), Snowflake Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNOW#NYSE">SNOW</a>), V.F. Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VFC#NYSE">VFC</a>) and BBB Funds Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TBBB#NYSE">TBBB</a>). </li>
</ul>
Read now: <a href="https://www.benzinga.com/general/biotech/24/05/38951889/exclusive-roundhill-investments-launches-weight-loss-etf-for-exposure-to-blockbuster-drugs-like-o">EXCLUSIVE: Roundhill Investments Launches Weight Loss ETF For Exposure To Blockbuster Drugs Like Ozempic</a>
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Large Cap

Macro Notification

Market Summary

Bonds

Broad U.S. Equity ETFs

Commodities

Treasuries

Federal Reserve

Tech

$BTC

SPDR Dow Jones Industrial Average ETF Trust

ENPH

FSLR

GOGL

Maxeon Solar Technologies, Ltd. - Ordinary Shares

MAXN

NVDA

SNOW

SNPS

SPWR

TBBB

TSLA

VSAT

Stocks Falter, Metals Fall As Traders Turn Cautious Ahead Of Fed Minutes, Nvidia Earnings; First Solar Hits Record Highs: What's Driving Markets Wednesday?

Chinese EV maker&nbsp;XPeng&nbsp;Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>)&nbsp;reported&nbsp;fiscal first-quarter sales growth of 62.3% year-on-year,&nbsp;to 6.55 billion Chinese Yuan ($0.91 billion), beating the&nbsp;analyst consensus estimate of 6.17 billion Chinese Yuan ($0.87 billion).&nbsp;Total revenues&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/05/g38934623/xpeng-reports-first-quarter-2024-unaudited-financial-results" rel="noreferrer noopener">declined 49.8% sequentially</a>.
Adjusted&nbsp;net loss per ADS&nbsp;of $0.21 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">analyst consensus loss estimate of $0.27</a>. The&nbsp;stock price gained after the print.
The&nbsp;Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;rival&#8217;s quarterly vehicle deliveries increased 19.7% year-on-year to 21,821.&nbsp;
XPeng&#8217;s physical sales network&nbsp;had 574 stores, covering 178 cities as of March 31, 2024.
XPeng&#8217;s&nbsp;self-operated&nbsp;charging&nbsp;station&nbsp;network&nbsp;reached 1,171 stations&nbsp;as of&nbsp;March 31, 2024.
Revenues from vehicle sales increased 57.8% Y/Y to $0.77 billion, mainly attributable to accelerating sales growth of the X9.
Gross margin was 12.9%&nbsp;vs.&nbsp;1.7% a year ago. Vehicle margin was 5.5%&nbsp;vs.&nbsp;(2.5)% a year ago, primarily attributable to the cost reduction and the improvement in&nbsp;the model product mix.&nbsp;
Operating&nbsp;loss for the quarter was $(0.23) billion.&nbsp;The&nbsp;company held $5.73 billion in cash and equivalents&nbsp;as of March 31, 2024.
Outlook: XPeng&nbsp;expects second-quarter vehicle deliveries&nbsp;of&nbsp;29,000&nbsp;–&nbsp;32,000, up 25.0% – 37.9% year-on-year.
The company expects second-quarter revenue of 7.5 billion&nbsp;Yuan –&nbsp;8.3 billion Yuan, representing a year-on-year increase of 48.1%&nbsp;– 63.9%,&nbsp;vs. the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of 9.83 billion Yuan</a>.
XPeng stock lost over 12% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;Invesco WilderHill&nbsp;Clean Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>)&nbsp;and&nbsp;SPDR S&amp;P&nbsp;Kensho New Economies Composite ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KOMP#NYSE">KOMP</a>).
Price Action: XPEV shares are trading higher by 5.80% at $8.75 in premarket at the last check Tuesday.
Photo via Shutterstock

KOMP

China's EV Maker XPeng Speeds Ahead with Strong Revenue Growth, Expects Selling More Than 29K Units In Q2

President Joe Biden announced Tuesday a significant increase in tariffs on a range of Chinese goods, aimed at protecting the American economy <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/38813115/biden-targets-chinese-imports-with-huge-tariff-hikes-ahead-of-election">and safeguarding domestic jobs.</a>
These measures are also designed to counteract China&#8217;s heavily subsidized production, which Biden stated was &#8220;flooding the market&#8221; and harming U.S. manufacturers.
&#8220;Today, I&#8217;m announcing new tariffs in key sectors of the economy to ensure that our workers are not held back by unfair trade practices,&#8221; he explained. These include:
<ul>
<li>A 25% tariff on Chinese steel and aluminum products to counter China&#8217;s overcapacity and support clean American production.</li>
<li>A heavy 100% tariff on electric vehicles made in China to prevent market flooding and protect American auto manufacturers.</li>
<li>A 25% tariff on electric vehicle batteries and critical minerals from China to boost the domestic EV industry.</li>
<li>Increased tariffs on Chinese solar panels, raised from 25% to 50%, to support American manufacturers against subsidized competition.</li>
<li>A new 50% tariff on semiconductors made in China, a move to reclaim the semiconductor industry domestically.</li>
</ul>
Biden stressed the importance of these measures for the U.S. economy, saying, &#8220;These key sectors are where my administration is combining investments in America with tariffs that are strategic and targeted.&#8221;
Biden also cited major investments his administration has made, including &#8220;up to $1.5 billion in six clean steel projects across America, creating thousands of union jobs.&#8221; 
This effort, he noted, is significant because &#8220;Clean American steel, aluminum, it&#8217;s a big deal claim because of the way we manufacture it here. It&#8217;s half as much carbon as steel made in China.&#8221;
He also mentioned the bipartisan infrastructure law, which will establish a network of 500,000 electric vehicle charging stations across the country, creating thousands of jobs.
&#8220;The future of electric vehicles will be made in America by union workers,&#8221; the president stated.
Biden contrasted his approach with that of former President Donald Trump, noting, &#8220;My predecessor promised to increase American exports and boost manufacturing but failed.&#8221;
Asserting the global economic leadership of the U.S., Biden declared, &#8220;America is rising; we have the best economy in the world. Our trade deficit with China is down to the lowest level in over a decade, and we&#8217;re standing up against Chinese government unfair economic practices.&#8221;
He reinforced his commitment to ensuring that &#8220;everyone deserves a fair shot&#8221; and highlighted new investments, such as Microsoft Corp.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NYSE">MSFT</a>) plan to build a data center in Racine, Wisconsin, which promises thousands of good-paying jobs.
<h3 class="wp-block-heading">Market Reactions</h3>
<ul>
<li>Clean energy stocks, as tracked by the Invesco WilderHill Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>), rallied 4% on Tuesday, on track for their strongest-performing session since mid-December 2023.</li>
<li>Top performers were SunPower Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPWR#NASDAQ">SPWR</a>) Maxeon Solar Technologies, Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAXN#NASDAQ">MAXN</a>) and FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) with daily gains ranging from 30% to 53%.</li>
<li>U.S. solar stocks, as tracked by the Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>), rose Tuesday, following a 1.7% surge on Monday. </li>
<li>U.S. Semiconductor stocks, as monitored through the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>), were 1% higher. </li>
<li>Among U.S. EV automakers, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and Rivian Automotive Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) were both up by about 3%, while Lucid Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) soared 12%.</li>
<li>Chinese EV-makers witnessed mixed session with NIO Inc-ADR (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NASDAQ">NIO</a>) up 6%, XPeng Inc-ADR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>) up 1.7% and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) down 3%.</li>
</ul>
Read now: <a href="https://www.benzinga.com/markets/equities/24/05/38821976/fed-chair-powell-signals-patience-in-rate-policy-labels-producer-inflation-data-as-mixed">Fed Chair Powell Signals Patience In Rate Policy, Labels Producer Inflation Data As &#8216;Mixed&#8217;</a>
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Asia

Global

Econ #s

Economics

FCEL

LCID

MSFT

RIVN

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

Biden Announces Massive Tariffs On Chinese Imports To Protect US Industries: Clean Energy, Solar Stocks Rally

Global stock markets wrapped up one of the best quarters, with the MSCI index of world shares rising 7.7%, its best performance in five years. Hopes of a soft economic landing in the United States and enthusiasm about artificial intelligence drove the stocks higher. 
Notably, the S&amp;P 500 Index logged the best first-quarter performance in five years, having gained 10.2%, while the Dow Jones had its strongest first-quarter performance since 2021, advancing 5.6%. Meanwhile, the Nasdaq Composite Index popped 9.1%. 
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)&nbsp;and the related stocks were the hottest throughout the first quarter amid growing optimism about the tokens. The energy sector led the gains in March. On the commodity side, gold regained sheen on expectations of upcoming U.S. interest rate reductions. Traditionally viewed as a safe haven during periods of economic uncertainty, gold&#39;s appeal has surged given the forthcoming U.S. presidential election and conflicts in Ukraine and Gaza. Silver and other precious metals also gained. 
In agriculture commodities, cocoa prices have more than doubled in just three months, skyrocketing to $10,000 a ton from $3,000 a ton at the start of the year. A third consecutive year of supply shortages caused by poor harvests in West Africa led to the surge. 
Given this, we have highlighted three ETFs, each from the best and worst-performing zones, in the first quarter of 2024.
<h3>Best ETFs</h3>
Bitcoin - Grayscale Bitcoin Trust (ARCA:GBTC) &ndash; Up 92.5% 
Bitcoin, the world&#39;s largest cryptocurrency, has been on an unstoppable rally as the demand for the token is widening beyond committed digital-asset enthusiasts following the launch of spot Bitcoin ETFs. A looming reduction in the digital token&#39;s supply growth (halving event) is also contributing to its huge rally. 
Grayscale Bitcoin Trust is the world&#39;s largest Bitcoin ETF that enables investors to gain exposure to Bitcoin in the form of security while avoiding the challenges of buying, storing and safekeeping Bitcoin directly. It owns and passively holds actual Bitcoins through the Custodian, Coinbase&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) Custody. Grayscale Bitcoin Trust has an AUM of $23 billion and charges 1.50% in annual fees from investors. It trades in a volume of 17 million shares a day on average. 
Roundhill Cannabis ETF (BATS: <a class="ticker" href="https://www.benzinga.com/stock/weed#BATS">WEED</a>) &ndash; Up 45.1% 
Cannabis stocks and ETFs have been on a surge on speculations over the potential reclassification of marijuana as a less dangerous drug. A reclassification could potentially expand the market for marijuana, which is a multi-billion-dollar industry in the United States and a cash crop in many states where cannabis has been newly legalized. 
Roundhill Cannabis ETF is designed to offer concentrated exposure to the largest U.S. cannabis companies. The fund may invest in various cannabis-related companies, including cannabis producers and distributors, cannabis-related technology companies and additional cannabis-related ancillary businesses. It offers precise exposure to five leading U.S. MSOs. Roundhill Cannabis ETF has gathered $6.9 million in its asset base so far. It charges 40 bps in annual fees and trades in 6,000 shares a day on average. 
VanEck Vectors Semiconductor ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smh#NASDAQ">SMH</a>) &ndash; Up 28.7% 
The semiconductor sector is performing well this year, driven by the expansion of artificial intelligence&nbsp;applications, which are ushering in fresh opportunities for growth within the sector. Additionally, a spate of strong earnings reports from well-known players in the space has instilled confidence in the sector. 
VanEck Vectors Semiconductor ETF offers exposure to the companies involved in semiconductor production and equipment. SMH follows the MVIS US Listed Semiconductor 25 Index, which measures the overall performance of companies involved in semiconductor production and equipment. VanEck Vectors Semiconductor ETF holds 26 stocks in its basket and has managed assets worth $18.4 billion. It charges 35 bps in annual fees and expenses. SMH is heavily traded with a volume of 9 million shares per day and has a Zacks ETF Rank #1 (Strong Buy) with a High risk outlook.
<h3>Worst ETFs</h3>
United States Natural Gas Fund (ARCA:UNG) &ndash; Down 28.2% 
Natural gas price declined due to an increased surplus of working natural gas stocks and record-high levels of natural gas production. United States Natural Gas Fund provides direct exposure to the price of natural gas on a daily basis through futures contracts. If the near-month contract is within two weeks of expiration, the benchmark will be the next month&#39;s contract to expire. The natural gas contract is for natural gas delivered at Henry Hub, LA. 
The United States Natural Gas Fund has an AUM of $809 million and trades in a volume of around 6 million shares per day. UNG has a 1.06% expense ratio. 
Invesco WilderHill Clean Energy ETF (ARCA:PBW)&nbsp;&ndash; Down 21.9% 
Invesco WilderHill Clean Energy ETF offers exposure to companies that are publicly traded in the United States and are engaged in the business of advancement of cleaner energy and conservation. It follows the WilderHill Clean Energy Index and holds 73 stocks in its basket. 
Invesco WilderHill Clean Energy ETF has amassed $361.1 million in its asset base and trades in a solid volume of around 262,000 shares a day. It charges investors 66 bps in fees per year. 
Lithium - Sprott Lithium Miners ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/litp#NASDAQ">LITP</a>) &ndash; Down 20.7% 
Lithium prices have plunged this year as a broader slowdown in the China economy took a toll on sales of electric vehicles in China. Sprott Lithium Miners ETF is the pure-play U.S.-listed ETF focused on lithium mining companies that are providing the critical mineral necessary for the clean energy transition. It follows the Nasdaq Sprott Lithium Miners Index, holding 45 stocks in its basket. 
Sprott Lithium Miners ETF has gathered $5.9 million in its asset base and charges 65 bps in annual fees. It trades in an average daily volume of 12,000 shares.
<a href="https://www.zacks.com/stock/news/2248436/best-and-worst-etf-zones-of-q1?cid=CS-BENZ-FT-etf_news_and_commentary-2248436">To read this article on Zacks.com click here.</a>

Cannabis

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

COIN

GBTC

LITP

WEED

Best and Worst ETF Zones of Q1

Fisker Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FSR#NYSE">FSR</a>) is&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37915068/fisker-stock-hits-record-low-automaker-terminates-transaction-discussions" rel="noreferrer noopener">facing delisting from</a>&nbsp;the New York Stock Exchange due to its share price falling to &#8220;abnormally low&#8221; levels, with trading suspended shortly after.&nbsp;
This development follows the collapse of potential deal talks with a giant automaker, pushing Fisker to explore strategic alternatives, including restructuring and capital markets transactions.&nbsp;
The failed negotiations have triggered a need for Fisker to possibly repurchase its convertible notes due in 2026 and 2025, raising concerns about a default event that could significantly impact its operations and financial health.&nbsp;
This situation exacerbates the challenges for Fisker, which has already paused its electric vehicle production amid increasing uncertainties about its viability, according to Reuters reports.&nbsp;
Thomas Hayes, chairman of Great Hill Capital, has indicated that bankruptcy protection filing seems inevitable for Fisker, which would mark the second failure for founder Henrik Fisker in the automotive startup space.
Fisker, established in 2016 and going public through a special purpose acquisition company (SPAC) merger, initially boasted a $2.9 billion valuation.&nbsp;
However, the company&#8217;s value plummeted below $100 million due to supply chain issues, production delays, and funding challenges. Efforts to raise up to $150 million through convertible note sales faltered after missing an interest payment, underscoring the difficulty of securing funds in a competitive and challenging market.
The startup has also proposed a reverse stock split to meet NYSE listing standards, reflecting its over 90% share value loss this year.&nbsp;
The stock lost close to 99% in the last 12 months. Investors can gain exposure to the stock via&nbsp;Direxion Moonshot Innovators ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MOON#NYSE">MOON</a>) and&nbsp;Invesco WilderHill Clean Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBW#NYSE">PBW</a>).
Price Action:&nbsp;FSR shares closed lower by 28.2% at $0.09 on Monday.
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy of Fisker

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