First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ: QCLN)

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First Trust NASDAQ Clean Edge Green Energy Index Fund

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The fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the index. The index is designed to track the performance of small, mid and large capitalization clean energy companies that are publicly traded in the United States. It is non-diversified.

Tesla, Inc.

On Semiconductor Corp

Enphase Energy Inc.

First Solar Inc

Rivian Automotive

Albemarle Corp.

Universal Display Corp

Lucid Group Inc

Acuity Brands Inc

Brookfield Renewable Partners Lp

Electric vehicle manufacturer Rivian Automotive, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading lower after the company lowered its annual production guidance due to a supply shortage of <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">shared components on the R1 and RCV platforms.</a>
The company produced 13,157 vehicles at its manufacturing facility in Normal, Illinois, and delivered 10,018 <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41181218/rivian-releases-q3-production-and-delivery-figures-updates-2024-annual-production-outlook-and-sets" rel="noreferrer noopener">cars during the same period.</a>
Rivian is experiencing a supply shortage that began in the third quarter of this year and has intensified in recent weeks.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40985825/tesla-and-chinese-ev-startups-outpace-toyota-volkswagen-in-critical-software-race-report" rel="noreferrer noopener">Tesla And Chinese EV Startups Outpace Toyota, Volkswagen In Critical Software Race: Report</a>
In response, the company is revising its annual production guidance to a range of 47,000 to 49,000 vehicles (prior 57,000).
Additionally, Rivian is reaffirming its annual delivery outlook, anticipating low single-digit growth compared to 2023, with expected deliveries between 50,500 and 52,000 vehicles.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, RIVN stock has lost over 54% in the past year. Investors can gain exposure to the stock via&nbsp;Renaissance IPO ETF(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPO#NYSE">IPO</a>) and&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>).
Earlier this week, the company&#8217;s top peer, Tesla, posted third-quarter deliveries and production numbers.
Tesla<a target="_blank" href="https://www.benzinga.com/news/24/10/41141444/tesla-stock-plunges-3-despite-q3-deliveries-exceeding-consensus-and-growing-year-over-year" rel="noreferrer noopener"> reported third-quarter deliveries&nbsp;</a>of 462,890 vehicles, up 6.4% year-over-year and up 4.3% quarter-over-quarter. The company reported third-quarter production of 469,796 vehicles, up 9.1% year-over-year and up 14.4% quarter-over-quarter.
Price Action: RIVN shares are trading lower by 8.16% to $9.90 premarket at last check Friday.
Photo by Tada Images on Shutterstock
Read Also:&nbsp;
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41148891/jobs-report-in-focus-will-slower-growth-push-the-fed-toward-november-interest-rate-" target="_blank" rel="noreferrer noopener">Jobs Report In Focus: Will Slower Growth Push The Fed Toward November Interest Rate Cut?</a></li>
</ul>

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General

QCLN

RIVN

Rivian's Production Forecast Hits Bump, Supply Shortage Sends Shares Tumbling

Rivian Automotive Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading lower today. The company is reportedly set to face trial over accusations that it prompted former Tesla Inc. employees to steal trade secrets, according to a preliminary ruling by a California judge.
Judge Theodore C. Zayner of the Santa Clara County Superior Court tentatively refused Rivian&#8217;s request to dismiss the case, asserting that Tesla had provided sufficient evidence for the case to proceed to trial, reported Reuters.
The judge highlighted that some Rivian employees were inadequately investigated and not disciplined, which supports Tesla&#8217;s claims.
The legal dispute <a target="_blank" href="https://www.benzinga.com/news/20/07/16744936/tesla-sues-rival-ev-maker-rivian-for-poaching-employees-stealing-intellectual-property" rel="noreferrer noopener">originated in 2020 when Tesla</a> filed a lawsuit against Rivian, alleging a concerning trend of employee poaching and the unauthorized use of proprietary information.
Rivian has reportedly hired 178 former Tesla employees, 70 of which joined the automaker directly after leaving Musk&#8217;s company.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/07/39911412/rivian-reports-well-over-100k-r2-reservations-ahead-of-2026-launch" rel="noreferrer noopener">Rivian Reports&#8217; Well Over&#8217; 100K R2 Reservations Ahead Of 2026 Launch</a>
Tesla accused Rivian of deliberately encouraging its employees to defect and bring confidential data with them.
Tesla expanded the lawsuit in 2021, claiming that Rivian stole core technology <a target="_blank" href="https://www.benzinga.com/markets/equities/23/08/33545095/tesla-rivian-could-clash-in-california-court-over-trade-secrets-issue-what-you-need-to-know" rel="noreferrer noopener">related to its next-generation batteries</a>.&nbsp;
Despite Rivian&#8217;s efforts to demonstrate that it had conducted an investigation into the matter, Judge Zayner found that their evidence did not definitively prove the adequacy of the investigation.
A final hearing is scheduled for Wednesday at the Santa Clara court. Rivian stock has lost more than 32% in the last 12 months.
Investors can gain exposure to the stock via First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KARS#NYSE">KARS</a>).
Price Action: RIVN shares are trading lower by 4% at $16.80 at last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39858300/tesla-sees-24-drop-in-california-registrations-as-ev-competition-heats-up" target="_blank" rel="noreferrer noopener">Tesla Sees 24% Drop In California Registrations As EV Competition Heats Up</a></li>
</ul>

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Tech

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KARS

What's Going On With Rivian Automotive Stock Today?

As the Q2 earnings season approaches, clean tech stocks like Enovix Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENVX#NASDAQ">ENVX</a>) and ChargePoint Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) are catching the spotlight, navigating a landscape fraught with both <a href="https://www.benzinga.com/topic/clean-energy">opportunities and challenges</a>. 
According to JPMorgan analyst Bill Peterson, the sentiment among institutional investors is notably cautious, with &#8220;elevated short interest pervasive across our coverage universe.&#8221; This ambivalence is driven by concerns about company execution and balance sheets, keeping investors on the sidelines until clearer signals emerge.
<h2 class="wp-block-heading">Clean Tech&#8217;s Recent Rally: A Temporary Surge?</h2>
Despite the overall uncertainty, Clean Tech stocks have experienced a notable upswing over the past month, with the sector up 9%. 
However, these stocks remain down 10% year-to-date, highlighting ongoing volatility. The iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) is down 10.61% and the First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) is down 11.44% YTD.
Leading the recent rally, however, are EV charging and advanced batteries, where Enovix and ChargePoint are making significant strides.
<h3 class="wp-block-heading">Enovix</h3>
Peterson states, &#8220;Since 1Q, Overweight-rated ENVX has announced several commercial agreements in the smartphone and mixed reality spaces, providing investors with more evidence of technology validation in consumer electronics.&#8221;
The company&#8217;s strategic moves are bolstered by its plans to scale up production at Fab-2, further appeasing investor concerns. This positive momentum prompted Peterson to raise Enovix&#8217;s price target from $12 to $18.
<h3 class="wp-block-heading">ChargePoint</h3>
ChargePoint, meanwhile, is carving out its position in the EV Charging sector, buoyed by a 9.9% EV/PHEV penetration rate exiting 2Q. Peterson notes, &#8220;Considering the mixed demand environment overall, we think 2Q is unlikely to mark an inflection point for US EV Charging companies, but there will likely be sequential improvement to both top-line and margins with bigger improvements slated for the 2H contingent upon EV demand recovery and cost reduction efforts.&#8221; 
ChargePoint&#8217;s potential reaffirmation of year-end profitability targets could pave the way for a strong second half of 2024, driven by improved demand and cost-cutting measures.
<h2 class="wp-block-heading">eVTOL Stocks: The Patient Investor&#8217;s Game</h2>
In the realm of Advanced Air Mobility, stocks like Archer Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACHR#NYSE">ACHR</a>) and Joby Aviation Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) have surged recently, although Peterson warns that this momentum may not align with fundamentals. 
&#8220;While US-based JOBY and ACHR have rallied 25-30% over the last 1-month period, we think the stocks have moved ahead of fundamentals given few changes in either company's stories that de-risk the earnings outlook,&#8221; the analyst said.
However, as these companies inch closer to FAA certification, upcoming catalysts such as airline purchase orders could potentially justify their lofty valuations.
<h2 class="wp-block-heading">Plug Power&#8217;s Hydrogen Hurdles: Policy Uncertainty Looms</h2>
The hydrogen sector, represented by Plug Power Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>), is entangled in policy uncertainty, particularly around the awaited 45V tax credit guidance. This delay has stalled clean hydrogen projects, posing a challenge to Plug Power's growth trajectory. 
Peterson highlights, &#8220;We think 2Q top-line results are unlikely to move the needle too much for Neutral-rated Plug Power as a result of the 45V tax credit overhang.&#8221; Despite these issues, there is potential for positive movement in the second half of the year if macroeconomic conditions improve.
Read Also: <a href="https://www.benzinga.com/markets/esg/24/07/39794934/3-under-the-radar-clean-energy-stocks-with-upside-potential-regardless-of-whos-in-the-white-house">3 Under-the-Radar Clean Energy Stocks With Upside Potential, Regardless Of Who&#8217;s In The White House</a>
<h2 class="wp-block-heading">Political Risks, Economic Headwinds Abound For Clean Tech</h2>
The Clean Tech sector's journey through 2024 remains precarious, with political risks and economic headwinds casting long shadows. Although Clean Tech companies are expected to project revenue growth and margin improvements in the coming quarters, Peterson warns of persistent volatility tied to the upcoming presidential election. 
He advises, &#8220;Earnings commentary is likely to include views on political risk from the upcoming presidential election, demand in 2H24 assuming macro improvement, access to liquidity or means to reduce cash burn if the macro does not improve, as well as path to profitability for those who have yet to announce formal targets.&#8221;
As Clean Tech stocks like Enovix, ChargePoint, Archer Aviation, and Joby Aviation lead the charge, the sector stands at a critical juncture, poised between potential technological breakthroughs and the reality of a challenging investment landscape. 
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/39925881/alphabet-investors-fret-over-margin-impact-of-higher-ai-related-capex-but-fund-mana">Alphabet Investors Fret Over Margin Impact Of Higher AI-related Capex, But Fund Manager Says Not Spending Enough Exposes Google&#8217;s Parent To Risk Of &#8216;Losing Their Grip On The Future&#8217;</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Long Ideas

Analyst Ratings

Trading Ideas

ACHR

CHPT

ENVX

iShares S&P Global Clean Energy Index Fund

ICLN

JOBY

PLUG

Clean Tech Titans: Can Enovix, ChargePoint, Archer, Joby Defy The Doubters?

ON Semiconductor Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) shares are trading higher after the company signed a multi-year agreement with Volkswagen Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VLKAF#OTC">VLKAF</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/VWAGY#OTC">VWAGY</a>) to provide solutions for <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/b39878255/onsemi-selected-to-power-volkswagen-groups-next-generation-electric-vehicles" rel="noreferrer noopener">vehicle lineup across multiple brands</a>.
As per the deal, ON Semiconductor will supply a comprehensive power box solution for Volkswagen&#8217;s next-generation traction inverter within its Scalable Systems Platform (SSP).
onsemi&#8217;s EliteSiC M3e MOSFET-based power box offers higher power and efficiency in a compact design, enhancing heat management and extending EV range. Volkswagen Group can seamlessly adopt future EliteSiC platforms, staying at the forefront of EV innovation.
Volkswagen Group will benefit from onsemi&#8217;s investment in a new silicon carbide plant in the Czech Republic, which will streamline the supply chain and logistics for traction inverter systems, enhancing manufacturing efficiency.
Till von Bothmer, Senior Vice President VW Group Procurement for Powertrain, said, &#8220;On top of the verticalization, onsemi has furthermore provided a resilient supply concept with regional silicon carbide fabs across Asia, Europe and the U.S. In addition, onsemi will continuously provide the latest SiC generation to ensure competitiveness.&#8221;
Earlier this month, ON Semiconductor announced it had completed the <a target="_blank" href="https://www.benzinga.com/news/24/07/39608561/what-happened-with-on-semiconductor-stock-today" rel="noreferrer noopener">acquisition of SWIR Vision Systems</a>.
In June, On Semiconductor announced a&nbsp;restructuring plan&nbsp;that included reducing its workforce by 1,000 employees and consolidating nine sites to optimize its manufacturing network <a target="_blank" href="https://www.benzinga.com/news/24/06/39339784/why-are-on-semiconductor-shares-trading-lower-friday" rel="noreferrer noopener">and consolidate its global corporate footprint</a>.
Investors can gain exposure to ON stock via First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) and Return Stacked Bonds &amp; Managed Futures ETF Veridien Climate Action ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLIA#NYSE">CLIA</a>).
<h2 class="wp-block-heading">ON Stock Prediction 2024</h2>
Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of ON Semiconductor have an average 1-year price target of $86.53, representing an expected upside of 19.3%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. 1 analysts have bearish recommendations on ON Semiconductor, while 14 analysts have bullish ratings. The street high price target from B. Riley Securities is $103.0, while the street low from Morgan Stanley is $65.0.
Price Action: ON shares are up 3.06% at $74.75 premarket at the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock

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CLIA

VLKAF

VWAGY

ON Semiconductor Seals Multi-Year Deal with Volkswagen for Advanced EV Solutions; Stock Gains

U.S. solar manufacturers are prodding the Biden administration to toughen the rules on a law that gives a <a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">10% tax credit </a>solar project developers who use materials made in the U.S.A.
The administration sought to encourage investment in clean energy and deter reliance on Chinese goods through the 2022 Inflation Reduction Act, which requires that 40% of the cost of a developer&#8217;s materials comes from U.S.-manufactured solar products.
But the Solar Energy Manufacturers for America Coalition (SEMA) said developers can reach that 40% requirement just by buying U.S.-made mounting racks and inverters, and then purchasing the solar panels overseas, Reuters reported.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/24/05/39068775/enphase-energy-solar-giant-shines-with-golden-cross-breakout">Enphase Energy: Solar Giant Shines With Golden Cross Breakout</a>
SEMA also said the situation undermines the administration&#8217;s goals of building a robust solar supply chain to compete with China because solar panels are more difficult and expensive to produce than the other components.
Price Action: Solar panel manufacturers trended downward by Wednesday&#8217;s late-morning trading.
Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) declined 4.36% to $111.10, while Brookfield Renewable Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) slid 2.78% to $25.19 and Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) dipped 2.49% to $16.85.
Exchange-traded funds that hold shares of Enphase, which has the largest market capitalization of $17.1 billion, <a href="https://www.forbes.com/advisor/investing/best-solar-power-stocks/">according </a>to Forbes Advisor, also fell by late morning on Wednesday.
Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 3.06% as Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>) declined 1.60% and Virtus Duff &amp; Phelps Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCLN#NYSE">VCLN</a>) dropped 1.18%. First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) shed 3.24% and iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) declined 1.92%.
Read Now: 
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<li><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 World Renewable Energy Hits New High</a></li>
</ul>
Photo: Andreas from Pixabay

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ENPH

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Solar Makers Push Biden To Tighten Tax Credit For US-Made Panels

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

Regulations

Sector ETFs

Specialty ETFs

Politics

AMLP

PAVE

PowerShares Exchange Traded Fund Trust WilderHill Clean Energy Portfolio

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

California is the largest U.S. state by population and was once the largest solar energy producer in the U.S. In a large shake-up, Texas has surpassed California as the largest domestic <a href="https://www.benzinga.com/topic/solar-energy">solar energy producer.</a>
The Data: An <a href="https://www.ft.com/content/ef2f6f8e-60df-4ccd-8c4f-ef5cd0eb3176">article</a> from the Financial Times outlined how Texas, which <a href="https://www.benzinga.com/general/23/06/32950886/texas-power-grid-strains-consumers-urged-to-cut-back-energy-use-during-heatwave">has its own energy </a>grid, has become a &#8220;model&#8221; for green energy adoption.
Texas&#8217; solar grid has grown exponentially in the past five years. In 2019, Texas had just over 2 gigawatts of solar plants compared to California&#8217;s 13. In 2024, Texas has 23.6 gigawatts to California&#8217;s 21.2. FT acquired the data from Grid Status.
According to data from the think tank Ember, Texas generated more power from solar than coal for the first time in March.
Why it Matters: Texas has consistently voted for Republican state legislative majorities, who themselves have been historically unlikely to support green energy. The fact that Texas surpassed Democratic stronghold California could indicate that solar energy adoption has become less politicized.
The state has also seen an increase in solar manufacturing. Enphase Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) <a href="https://www.solarpowerworldonline.com/2024/04/welcome-to-texas-the-new-solar-valley/">manufactures</a> solar inverters in Arlington while Canadian Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSIQ#NASDAQ">CSIQ</a>) manufactures panels in Mesquite. Several other manufacturers have announced plans to produce parts in Texas.
The state attracted attention as a newfound leader in green energy when<a href="https://www.benzinga.com/news/24/04/38041385/elon-musks-tesla-is-austins-biggest-private-employer-so-how-much-do-giga-texas-workers-get-paid"> Elon Musk moved </a>Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) headquarters from California to Austin. <a href="https://www.benzinga.com/news/24/05/38912593/elon-musk-wants-giga-texas-roof-to-spell-out-tesla-amid-solar-panels-bright-enough-to-be-seen-at-nig">Musk reportedly wants</a> the roof of his Texas Gigafactory to be covered in solar panels.
For investors interested in the solar energy sector, here are three ETFs to consider:
<ol>
<li>Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>): Specializes in solar energy stocks​</li>
<li>iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>): Covers a diverse range of clean energy sources, including solar​ </li>
<li>First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>): Includes a mix of renewable energy companies, with substantial investments in solar energy​</li>
</ol>
Also Read: <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 World Renewable Energy Hits New High</a>
Image generated using artificial intelligence via Midjourney.

CSIQ

TSLA

California Loses The Solar Crown: Who's America's New Energy Star?

Benchmark&nbsp;analyst David Williams maintained&nbsp;ON Semiconductor Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ON#NASDAQ">ON</a>) with a Buy and lowered the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/ON/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$88&nbsp;to&nbsp;$80</a>.
While ON&#8217;s&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38494497/why-is-on-semiconductor-stock-trading-higher-on-monday" rel="noreferrer noopener">results were better</a>&nbsp;than feared, with stabilization in the Auto market and moderate improvement in traditional Industrial, Williams noted that the outlook missed expectations on persistent inventory digestion and a tepid demand environment.&nbsp;
SiC remains the key momentum driver in the near term, with convincingly strong evidence of the firm&#8217;s ability to outperform the industry growth by 2x, per the analyst.&nbsp;
Although unit volume remains the wildcard, share gains across existing platforms scheduled for production this year support substantial SiC growth opportunities.&nbsp;
However, with the pace of EV adoption in question and the accelerating push toward more economical models, investors are more concerned with the potential erosion of SiC content than ON seems to be, he said.&nbsp;
While Williams recognized the SiC performance advantages extend to the lower-end platforms, the number of sockets is considerably reduced&nbsp;and will&nbsp;require meaningfully higher unit sales to offset the lower available content.&nbsp;
The near-term growth opportunity remains positive, but the analyst is increasingly cautious about the sustainability of the&nbsp;mid&nbsp;to longer-term growth trajectory on the global SiC capacity expansion coming online and an anticipated mix shift toward&nbsp;lower content&nbsp;auto platforms over time.&nbsp;
Williams projected second-quarter revenue and EPS of $1.73 billion (prior $1.81 billion) and $0.92 (prior $1.00).
Goldman Sachs&nbsp;analyst Toshiya Hari reiterated a Buy rating on ON Semiconductor with a price target of $89 (up from $81 prior).
ON reported a modest upside to Street&#8217;s first-quarter 2024 EPS expectations ($1.08 vs. $1.04) and provided a better-than-feared fiscal second-quarter adjusted gross margin outlook of 45.2% (mid-point).&nbsp;
While the near-term outlook for the SiC business remains uncertain, Hari remained constructive on the company&#8217;s long-term growth potential given its above-average exposure to applications in secular growth, including Electrification, ADAS, Energy Infrastructure, and Factory Automation.
Hari projected second-quarter revenue and EPS of $1.71 billion and $0.93.
BofA Securities&nbsp;analyst Vivek Arya affirmed a Buy rating on ON Semiconductor with a price target of $80.
Arya noted that the first-quarter results were modestly better, with a better-than-expected second-quarter miss on auto inventory correction.&nbsp;
The second-half visibility sounded murky, but the analyst expects industrial stabilization and EV recovery to benefit ON, with incremental upside from data center power upgrades.&nbsp;
Arya expects the second quarter to be&nbsp;a cycle&nbsp;bottom, with $3.68 EPS in annualized trough proforma-EPS (4x Q2 $0.92 EPS).&nbsp;
He forecasts ON&#8217;s Silicon Carbide (SiC) sales to grow about 20% YoY to $980 million, though somewhat back-half weighted.
ON maintained a mid-40&#8217;s gross margin % floor, which Arya estimated sustains through the calendar year 2024, which is&nbsp;impressive despite low
utilization (65% in Q1 and likely stable through calendar 2024).
He noted that SiC growth is on track, as well as diversification within key Chinese OEMs (now in the top 10 of EV OEMs vs 4-5 prior).
The&nbsp;calendar year 2025 gross margin % expansion levers are in place as East Fishkill&nbsp;(EFK) headwinds&nbsp;roll-off&nbsp;(GlobalFoundries Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gfs#NASDAQ">GFS</a>) foundry relationship ending in 2025), along with&nbsp;$160&nbsp;million benefit from prior fab divestitures, Arya said.
The long-term gross margin upside&nbsp;is set at 53% from&nbsp;43% levels today, perhaps the highest among peers, the analyst added.
Arya projected second-quarter revenue and EPS of $1.73 billion (prior $1.76 billion) and $0.92.
ON Semiconductor stock lost over 9% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) and&nbsp;EA Series Trust Strive U.S. Semiconductor ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Action:&nbsp;ON shares are trading lower by 0.09% at $70.76 at&nbsp;the last check Tuesday.

Price Target

Reiteration

EA Series Trust Strive U.S. Semiconductor ETF

SHOC

ON Semiconductor Set for Growth: Analysts Cite SiC and Auto Market Stability As Catalysts

ON Semiconductor Corp&nbsp;(NASDAQ:&nbsp;ON) stock reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38487299/onsemi-first-quarter-2024-results-exceed-expectations" rel="noreferrer noopener">consensus of $1.85 billion</a>.&nbsp;The adjusted EPS of $1.08 beat the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $1.04</a>.&nbsp;
Revenue from Power Solutions Group (PSG) grew 2%&nbsp;year over year&nbsp;to $874.2 million, Analog and Mixed-Signal Group (AMG) decreased 6%&nbsp;year over year&nbsp;to $697.0 million, and Intelligent Sensing Group (ISG) fell&nbsp;18% year over year&nbsp;to $291.5 million.
The adjusted gross margin declined by 90 bps to 45.9%, and the adjusted operating margin decreased by 320 bps to 29.0%.
ON Semiconductor generated $276.3 million in free cash flow and held $2.61 billion in cash and equivalents&nbsp;as of March 29, 2024.
Outlook:&nbsp;ON Semiconductor expects second-quarter adjusted revenue of $1.68 billion&nbsp;– $1.78&nbsp;billion, below the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $1.92 billion</a>.
The company sees adjusted EPS of $0.86 – $0.98 versus the consensus of $1.10.
Last week,&nbsp;Piper Sandler&nbsp;analyst Harsh V. Kumar noted that fundamentals will bottom in the June quarter, and commentary on the call will remain conservative while pointing to opportunities for growth in the second half.&nbsp;
However, the shape of any potential recovery through the second half remains uncertain and will depend on demand trends in key end markets, he said.
Kumar expected second-quarter guidance to be slightly down from the March 2024 quarter, modeling a 2.7% sequential decline primarily driven by automotive.&nbsp;
He forecasted automotive, which is 50%+ of revenues for ON, to be down 4% for the June quarter.&nbsp;
Given current lead times and channel levels, Kumar&#8217;s base case posits that the June quarter will serve as the bottom quarter for this cycle.&nbsp;
For the second half of 2024, he expects sequential growth in both the September and December quarters, where he modeled low single-digit type growth sequentially for each quarter.&nbsp;
Kumar noted a robust and steady recovery starting in the second half of 2024 for gross and operating margin trends.&nbsp;&nbsp;
Despite the recent consternations in the EV market, Kumar noted that the EV market&nbsp;is set&nbsp;to grow 20%+ long-term. Additionally, EVs come with further benefits, such as high electronic content.&nbsp;
Notably, silicon carbide penetration for EVs is still only in the high teens to 20% range, and excluding&nbsp;Tesla Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), the penetration of silicon carbide in EVs is in the mid-single digits. Kumar had projected first-quarter revenue and EPS of $1.86 billion and $1.05.
ON Semiconductor stock lost over 13% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) and&nbsp;EA Series Trust Strive U.S. Semiconductor ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOC#NYSE">SHOC</a>).
Price Action: ON shares are trading higher by 4.23% at $70.94 on the last check Monday.
Photo by Anne Nygård on Unsplash

Earnings

Why Is ON Semiconductor Stock Trading Higher On Monday?

Joby Aviation, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JOBY#NYSE">JOBY</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">trading lower in the premarket session on Tuesday.</a>
The company is reportedly envisioning a futuristic commute &#8211; flying above traffic from downtown Manhattan to JFK Airport in under seven minutes, rivaling&nbsp;Uber Technologies, Inc.&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) cost.
With $400 million support from&nbsp;Toyota Motor Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) and $60 million from&nbsp;Delta Air Lines, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), Joby aims to lead in launching air taxis, or eVTOLs, to market, Yahoo Finance&nbsp;<a target="_blank" href="https://finance.yahoo.com/news/jetsons-like-travel-in-air-taxis-is-as-close-as-weve-seen-jobys-chief-product-officer-says-195438697.html" rel="noreferrer noopener">reported</a>.
&#8220;This is as close as we&#8217;ve seen, I think, in terms of the technology coming together to make something that you could use on a daily basis,&#8221; said Eric Allison, Joby&#8217;s chief product officer, Yahoo Finance added.
A Federal Aviation Administration spokesperson informed Yahoo Finance that while 2025 might see initial flight launches, 2028 appears more realistic for a competitive, scaled air taxi market in at least one location, the report read.
According to Wall Street research firm Jefferies, certification is the primary factor for retail investors interested in this sector to monitor closely.
Joby anticipates that their aircraft technology will aid in the regulatory process, Yahoo Finance stated.&nbsp;
The FAA&#8217;s certification demands compliance with safety standards and operational proficiency under diverse conditions.
Joby&#8217;s eVTOL boasts a range of up to 100 miles per charge, enabling two round trips between JFK and a downtown NYC heliport before needing a recharge. They anticipate recharging to coincide with passenger boarding and deplaning times.
Uber reports the average Manhattan to JFK trip costs $135 for Uber Black and $87 for regular Uber.&nbsp;
Jefferies predicts Joby&#8217;s initial ride could be around $200, Yahoo Finance added.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, JOBY stock has gained over 17% in the past year. Investors can gain exposure to the stock via&nbsp;ALPS Clean Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACES#NYSE">ACES</a>) and&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>).
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38024854/flying-cars-are-here-but-it-may-take-some-time-before-they-land" rel="noreferrer noopener">Flying Cars Are Here, But It May Take Some Time Before They Land</a>
Price Action: JOBY shares are trading lower by 1.09% to $4.62 premarket on the last check Tuesday. 
Dimitris Vetsikas from Pixabay

ACES

UBER

Joby Aviation May Launch Flying Taxis By 2025 - What's Going On?

Rivian Automotive, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are trading slightly lower in the premarket session on Tuesday after closing&nbsp;<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">yesterday&#8217;s session with a massive 8% slump.</a>
The downturn follows the market buzz of EV behemoth&nbsp;Tesla, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), which is<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38241819/tesla-on-the-cusp-of-massive-20-job-cuts-amid-fundamental-woes-stock-slump-report" rel="noreferrer noopener">&nbsp;looking to trim its workforce.</a>&nbsp;The job cuts being contemplated would impact tens of thousands of employees.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, RIVN stock has lost over 38% in the past year. Investors can gain exposure to the stock via&nbsp;ALPS Clean Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACES#NYSE">ACES</a>) and&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>).
Rivian is set to announce its first-quarter financial results after the market closes on May 7 and will host a conference call to&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38045151/rivian-releases-q1-production-figures-and-sets-date-for-first-quarter-2024-results" rel="noreferrer noopener">discuss the results at 5:00 p.m. ET the same day.&nbsp;</a>
For fiscal 2024, Rivian plans to be focused on cost efficiency, continuing progress made in 2023 that<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37247948/rivian-q4-earnings-highlights-revenue-beat-eps-miss-2024-guidance-and-more" rel="noreferrer noopener">&nbsp;increased gross profit per delivered vehicle.</a>
Earlier this month, the company reaffirmed its guidance for annual production of&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38045151" rel="noreferrer noopener">57,000 total vehicles.</a>
Price Action: RIVN shares are trading lower by 0.36% to $8.36 premarket on the last check Tuesday.
Photo via Shutterstock

What's Going On With Rivian Automotive Shares Today?

Rivian Automotive, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RIVN#NASDAQ">RIVN</a>) shares are<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">&nbsp;trading lower in the premarket session on Friday.</a>
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, RIVN stock has lost over 30% in the past year. Investors can gain exposure to the stock via&nbsp;ALPS Clean Energy ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACES#NYSE">ACES</a>) and&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>).
Rivian is set to announce its first-quarter financial results after the market closes on May 7 and will host a conference call to&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/b38045151/rivian-releases-q1-production-figures-and-sets-date-for-first-quarter-2024-results" rel="noreferrer noopener">discuss the results at 5:00 p.m. ET the same day.&nbsp;</a>
According to estimates from<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">&nbsp;Benzinga Pro</a>, the company is expected to report losses of $(1.15) per share and quarterly revenue of $1.153 billion.
The EV manufacturer&#8217;s production facility located in Normal, Illinois, is inactive as it undertakes adjustments&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38206072/whats-going-on-with-rivian-automotive-stock" rel="noreferrer noopener">to cut material expenses for its R1S and R1T models.&nbsp;</a>
Scheduled to resume operations after April 30, the shutdown will have repercussions throughout the year as the company expands its production capacity.
What&#8217;s Next:&nbsp;For fiscal 2024, Rivian said it will be focused on cost efficiency, continuing progress made in 2023 that<a target="_blank" href="https://www.benzinga.com/news/earnings/24/02/37247948/rivian-q4-earnings-highlights-revenue-beat-eps-miss-2024-guidance-and-more" rel="noreferrer noopener">&nbsp;increased gross profit per delivered vehicle.</a>
The company guided for production of 57,000 vehicles in 2024, which would be in line with 2024 production.
Rivian guided for adjusted EBITDA of a loss of $(2.7) billion for 2024. The company had announced it would reduce its salaried workforce by around 10% to help further improve costs.
Price Action: RIVN shares are trading lower by 0.94% to $9.48 premarket on the last check Friday. 
Photo via Shutterstock

Lucid Group, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCID#NASDAQ">LCID</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading higher on Tuesday.&nbsp;</a>The company said it produced 1,728 vehicles for the quarter ended March 31, 2024, significantly&nbsp;<a target="_blank" href="https://markets.businessinsider.com/news/stocks/lucid-announces-q1-production-deliveries-sets-date-for-first-quarter-2023-results-1032231232" rel="noreferrer noopener">lower&nbsp;</a>than 2,314 vehicles<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38160741/lucid-announces-q1-production-deliveries-sets-date-for-first-quarter-2024-results" rel="noreferrer noopener">&nbsp;in the year-ago period.</a>
The company delivered 1,967 vehicles during this period, higher than 1,406 vehicles for the quarter ended March 31, 2023.
Last month, the company was in the headlines for inking an agreement with its majority stockholder,<a target="_blank" href="https://www.benzinga.com/markets/equities/24/03/37913817/why-is-ev-maker-lucid-stock-surging-today" rel="noreferrer noopener">&nbsp;Ayar Third Investment Company.</a>
Ayar, an affiliate of the Public Investment Fund (PIF), will purchase $1 billion of newly created series of convertible&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37911178/lucid-group-inc-announces-investment-of-1-0-billion-by-an-affiliate-of-pif" rel="noreferrer noopener">preferred stock via private placement.</a>
Lucid intends to use the net proceeds from the private placement for general corporate purposes, including capital expenditures and working capital.
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, LCID stock has lost over 65% in the last one year. Investors can gain exposure to the stock via First Trust NASDAQ Clean Edge Green Energy Index Fund(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) and VanEck Green Infrastructure ETF(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RNEW#NASDAQ">RNEW</a>).
Price Action: LCID shares are trading higher by 4.7% to $2.76 on the last check Tuesday. 
Photo via Shutterstock

LCID

RNEW

Why Lucid Group Shares Are Gaining Today

Lighting and Building Management firm&nbsp;Acuity Brands, Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AYI#NYSE">AYI</a>) reported a second-quarter fiscal 2024 net sales decline of 4.0% year-over-year to $905.9 million, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38064225/acuity-brands-reports-fiscal-2024-second-quarter-results" rel="noreferrer noopener">consensus of $907.7 million</a>.&nbsp;
It clocked an adjusted EPS of $3.38, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $3.25</a>.
Sales by segments:&nbsp;Acuity Brands Lighting (ABL) and Lighting Controls revenue hit $843.5 million (-5.3% Y/Y), and Intelligent Spaces Group (ISG) clocked $68.1 million (+17.0% Y/Y).
The consolidated adjusted operating margin grew by 150 bps to 15.5%. ABL&#8217;s adjusted operating margin expanded by 120 bps to 16.2%. ISG&#8217;s margin increased by 240 bps to 21.0%.
The company generated $292.6 million in operating cash flow for the first half of fiscal 2024, a decrease of $13.8 million compared to the prior year. Adjusted EBITDA was $153.0 million, up from $144.8 million a year ago.&nbsp;
Chair and CEO Neil Ashe said, &#8220;We increased our adjusted operating profit, adjusted operating profit margin, and adjusted diluted earnings per share. We generated strong free cash flow, and we allocated capital effectively to drive value.&#8221;
AYI stock gained 43% in the last 12 months. Investors can gain exposure to the stock via&nbsp;First Trust NASDAQ Clean Edge Green Energy Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) and&nbsp;SPDR S&amp;P Kensho Intelligent Structures ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SIMS#NYSE">SIMS</a>).
Price Action:&nbsp;AYI shares are up 0.83% at $264.00 premarket on the last check Wednesday.

SIMS

Lighting Company Acuity Brands' Q2 Sales Dip But Profits and Margins Rise

Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) saw its stock soar by over 10% on Monday, marking the largest single-day <a href="https://www.benzinga.com/markets/equities/23/09/34434544/tesla-set-for-electric-start-as-stock-surges-6-premarket-whats-going-on">gain since the close of January 2023. </a>
The price surge increased the EV maker&#8217;s market cap by $80 billion in just one day. Tesla&#8217;s valuation hit the $870 billion mark, leaving companies like Warren Buffett&#8216;s Berkshire Hathaway Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NYSE">BKR</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NYSE">BKR</a>) and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) in its rearview mirror.
Chart: Tesla Inc Notches One of The Best-Performing Session In 2023
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="526" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/11152800/TSLA_2023-09-11_21-25-10_64d0e-1-1024x526.png" alt="" class="wp-image-104128" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/11152800/TSLA_2023-09-11_21-25-10_64d0e-1-1024x526.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/11152800/TSLA_2023-09-11_21-25-10_64d0e-1-300x154.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/11152800/TSLA_2023-09-11_21-25-10_64d0e-1-768x395.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/11152800/TSLA_2023-09-11_21-25-10_64d0e-1-1536x790.png 1536w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/11152800/TSLA_2023-09-11_21-25-10_64d0e-1.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Morgan Stanley Turns Bullish On Tesla</h2>
The catalyst: Morgan Stanley&#8217;s analyst Adam Jonas shifted his stance on Tesla, moving the stock from Equalweight to Overweight. He also hiked the price target from $250 to $400, which is nearly 50% higher than current market prices. 
The reason: Tesla&#8217;s Dojo supercomputer. Morgan Stanley sees the potential of Dojo adding $500 billion to Tesla&#8217;s enterprise value. This optimism is rooted in the belief that the supercomputer will expedite adoption rates in mobility, particularly robotaxis, and network services.
Morgan Stanley emphasized the importance of identifying scalable, high-potential ventures that haven&#8217;t been fully factored in by the market. The analysts believe Tesla&#8217;s Dojo fits this bill perfectly. 
According to the investment bank, Tesla&#8217;s groundbreaking supercomputing tech sets new standards. Their custom-designed chip, combined with specialized hardware and software, could offer a sixfold cost reduction per computing power unit, thanks to a highly efficient system. 
Read now: <a href="https://www.benzinga.com/news/23/09/34439859/tesla-to-rally-around-61-here-are-10-analyst-forecasts-for-monday">Tesla To Rally Around 61%? Here Are 10 Analyst Forecasts For Monday</a>
<h2 class="wp-block-heading">ETFs Soaring On Tesla Rally</h2>
When discussing exchange-traded funds with significant Tesla exposure, many instantly think of Cathie Wood&#8217;s Ark Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) as the primary Tesla-heavy fund.
This perception, however, isn&#8217;t entirely accurate. While ARKK boasts a notable chunk of its portfolio dedicated to Tesla – being Wood&#8217;s premier investment – there are ETFs out there with an even heftier Tesla allocation.
Leading the pack with the most significant daily gain is The Meet Kevin Pricing Power ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PP#NYSE">PP</a>), which surged by 3.2% on Monday. This fund dedicates roughly a quarter of its assets to Tesla.
Hot on its heels is the Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>). With an 18.6% Tesla stake, it witnessed a 2.8% daily uptick.
The Vanguard Consumer Discretionary ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCR#NYSE">VCR</a>) clinched the third spot, registering a 2.3% daily ascent.
Interestingly, Wood&#8217;s other offering, the ARK Autonomous Technology &amp; Robotics ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#NYSE">ARKQ</a>), found itself in the seventh position. It climbed 2.1% for the day, powered by its 13% Tesla allocation.
Factoring in the Tesla shares sprinkled across both ARKK and ARKQ, these funds&#8217; market valuation swelled by $100 million in just one day.
Table: Tesla-Heavy Exchange Traded Funds
<figure class="wp-block-table"> 
<table>
<thead>
<tr>
<th>ETF Name</th>
<th>ETF Ticker</th>
<th>Fund Style</th>
<th>Fund Focus</th>
<th>Weight%</th>
<th>Shares Held</th>
<th>Market Value</th>
</tr>
</thead>
<tbody>
<tr>
<td>Tidal ETF Trust II &#8211; The Meet Kevin Pricing Power ETF</td>
<td>PP</td>
<td>Strategy</td>
<td>Theme</td>
<td>25.81%</td>
<td>40,077</td>
<td>$11.0M</td>
</tr>
<tr>
<td>The Select Sector SPDR Trust &#8211; The Consumer Discretionary</td>
<td>XLY</td>
<td>Sector</td>
<td>Consumer Discretio&#8230;</td>
<td>18.58%</td>
<td>13,444,761</td>
<td>$3,683.2M</td>
</tr>
<tr>
<td>Vanguard World Fund &#8211; Vanguard Consumer Discretionary</td>
<td>VCR</td>
<td>Sector</td>
<td>Consumer Discretio&#8230;</td>
<td>15.06%</td>
<td>3,288,595</td>
<td>$900.9M</td>
</tr>
<tr>
<td>ProShares Trust &#8211; ProShares Ultra Consumer Discretionary</td>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCC#NYSE">UCC</a>)</td>
<td>Sector</td>
<td>Consumer Discretio&#8230;</td>
<td>14.71%</td>
<td>9,722</td>
<td>$2.7M</td>
</tr>
<tr>
<td>Fidelity Covington Trust &#8211; Fidelity MSCI Consumer Discretionary Index ETF</td>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDIS#NYSE">FDIS</a>)</td>
<td>Sector</td>
<td>Consumer Discretio&#8230;</td>
<td>14.61%</td>
<td>722,735</td>
<td>$198.0M</td>
</tr>
<tr>
<td>Direxion Shares ETF Trust &#8211; Direxion Daily Consumer Discretionary ETF</td>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WANT#NYSE">WANT</a>)</td>
<td>Sector</td>
<td>Consumer Discretio&#8230;</td>
<td>13.57%</td>
<td>19,258</td>
<td>$5.3M</td>
</tr>
<tr>
<td>ARK ETF Trust &#8211; ARK Autonomous Technology &amp; Robotics ETF</td>
<td>ARKQ</td>
<td>Strategy</td>
<td>Theme</td>
<td>13.29%</td>
<td>562,808</td>
<td>$154.2M</td>
</tr>
<tr>
<td>Simplify Exchange Traded Funds &#8211; Simplify Volt Robocar Disruption And Tech ETF </td>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCAR#NYSE">VCAR</a>)</td>
<td>Strategy</td>
<td>Theme</td>
<td>11.56%</td>
<td>1,898</td>
<td>$0.5M</td>
</tr>
<tr>
<td>iShares Trust &#8211; iShares Global Consumer Discretionary ETF</td>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RXI#NYSE">RXI</a>)</td>
<td>Sector</td>
<td>Consumer Discretio&#8230;</td>
<td>10.82%</td>
<td>144,369</td>
<td>$39.6M</td>
</tr>
<tr>
<td>ARK ETF Trust &#8211; ARK Innovation ETF</td>
<td>ARKK</td>
<td>Strategy</td>
<td>Theme</td>
<td>10.52%</td>
<td>3,278,033</td>
<td>$898.3M</td>
</tr>
<tr>
<td>First Trust Exchange-Traded Fund &#8211; First Trust NASDAQ Clean Edge Green Energy Index Fund </td>
<td>(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NYSE">QCLN</a>)</td>
<td>Strategy</td>
<td>Theme</td>
<td>10.31%</td>
<td>550,514</td>
<td>$150.9M</td>
</tr>
<tr>
<td>Tidal ETF Trust &#8211; SoFi Social 50 ETF</td>
<td>SFYF</td>
<td>Size and Style</td>
<td>Large Cap</td>
<td>10.21%</td>
<td>6,368</td>
<td>$1.7M</td>
</tr>
</tbody>
</table>
</figure>
Read now: <a href="https://www.benzinga.com/news/23/09/34438577/elon-musk-says-bill-gates-doesnt-get-enough-negative-feedback-after-isaacons-biography-reveals-origi">Elon Musk Says Bill Gates &#8216;Doesn&#8217;t Get Enough Negative Feedback&#8217; After Isaacson&#8217;s Biography Reveals Origins Of Billionaires&#8217; Clash</a>
Photo: Shutterstock

Broad U.S. Equity ETFs

New ETFs

ARKK

ARKQ

FDIS

VCAR

WANT

Select Sector SPDR-Consumer Discretionary

Tesla's Surge Propels 10 ETFs, And Cathie Wood's ARKK Isn't Top Gainer

Donald Trump's niece Mary Trump weighed in on the strange results thrown up by a recent poll that suggested people trusted her uncle more than their own family and friends, and the implications of these results for the <a href="https://www.benzinga.com/general/politics/23/08/33973910/with-trump-out-of-first-republican-debate-republican-voters-expect-these-2-candidates-to-shine">2024 general election.</a>
What Happened: Mary Trump, a psychologist, said she was gob-smacked by the results of CBS/YouGov poll, which showed that about 71% of Donald Trump's voters feel what the former president tells is true as opposed to 63% who said they trust their friends &amp; family and 56% who said they trust conservative media figures and 42% who trusted religious leaders.
Drawing a conclusion from the poll results, Mary Trump said a &#8220;not-insignificant&#8221; percentage of the American electorate claim they trust a man who has lied many times while being in office. 
Citing the Washington Post, she said her uncle told 30,573 public lies during the four years of his administration.
Anybody who believes Donald Trump is &#8220;past reaching,&#8221; she added.
Vain Pursuit: Mary Trump said persuading Donald Trump voters not to vote for him even after his &#8220;four indictments and 91 criminal charges, and every cruelty and obscene act he has committed&#8221; is wasting time.
See Also: <a href="https://www.benzinga.com/news/23/08/33956337/trump-will-finally-see-what-being-a-criminal-defendant-in-america-looks-like-says-niece-not-treated">Trump Will &#8216;Finally See&#8217; What Being A Criminal Defendant In America Looks Like, Says Niece: &#8216;Not Treated Like A Privileged White Man &#8230;&#8217;</a>
Way Forward: Not mindful of what Donald Trump's supporters say, their grievances, and their threat, people should go about the business of ensuring the Democratic Party wins by sufficient margins, Mary Trump said.
This will help set things right, including everything from voting rights to civil rights to LGBTQ+ rights to climate change to Supreme Court reform and &#8220;every other tenet of liberal democracy the fascists seek to undermine and destroy,&#8221; she said.
Through President <a href="https://www.benzinga.com/government/23/06/33048455/biden-unveils-vision-for-economic-growth-shifting-from-trickle-down-to-bidenomics">Joe Biden's economic agenda, often called Bidenomics,</a> his administration has enacted laws to curb inflation, combat climate change and incentivize domestic tech manufacturing, among other things.
The electric vehicle tax credits made available to manufacturers have helped bring down vehicle costs and push volumes.
The First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) ended Monday&#8217;s session up 1.22% at $45.59, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a>
A New Era: The Georgia election case signals the start of a new era and has brought people closer ahead of the general election, Mary Trump said. She said her uncle's nomination appears to be a done deal.
&#8220;We're also entering an extraordinary era of gaslighting from the right, normalization from the media, and the prospect of massive amounts of disruptions caused by the four trials of defendant Donald Trump," she added.
Mary Trump warned of the Republican party doing everything in its power to implicate Biden in crimes he did not commit and potentially impeach him over fabricated infractions and the media going overboard with its coverage of Donald Trump.
Without paying heed to any of these distractions, people must marshall their resources and protect their sanity, the podcaster said.
&#8220;If Joe Biden and the Democrats don't win, it will be the last free and fair election we ever have in this country,&#8221; Mary Trump said.
&#8220;Anything outside of reaching this goal is a distraction and we need to shut it out.&#8221;
Read Next: <a href="https://www.benzinga.com/money/how-to-invest-in-startups">How To Invest In Startups</a>

Trump's Niece Warns 2024 Might Be Last Free And Fair Election If Biden And Democrats Don't Win: 'Entering An Extraordinary Era Of Gaslighting'

In late 2008, markets were in freefall as the global financial system was on life support. Lawmakers were debating spending trillions of dollars to stave off total collapse.&nbsp;
At the time, one unknown 38-year-old CEO pleaded for assistance in bringing one of his cheaper electric sedans to market.&nbsp;
&ldquo;We can&rsquo;t move forward with that without a major amount of capital,&rdquo; Tesla CEO (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) Elon Musk said in December 2008. This was back in the days when Tesla was largely still a <a href="https://www.benzinga.com/money/how-to-invest-in-startups">startup</a>.&nbsp;
Tesla received a $465 million loan to build and design new electric cars in a manufacturing plant in Fremont, California.
To stay updated with top startup investments, <a href="https://www.benzinga.com/money/startup-investing-equity-crowdfunding-newsletter">sign up for Benzinga&rsquo;s Startup Investing &amp; Equity Crowdfunding Newsletter</a>
And the rest is history. Tesla launched its initial public offering (IPO) a little over a year later and has returned over 17,000% since President Barack Obama handed out $90 billion to clean energy firms as though it were Christmas candy.
As Bloomberg pointed out, &ldquo;Tesla wouldn&rsquo;t be Tesla without stimulus spending.&rdquo;
Had the government not given $465 million to Tesla when Musk really needed it, investors would never have been able to turn every $1,000 invested into over $174,000 (before taxes) today.
That $90 billion figure refers to all clean energy in the $879 billion stimulus Obama signed into law on Feb. 17, 2009. The stimulus was controversial. Though stuffed with tax breaks and building projects, it also had head-scratching provisions like spending $71,263 to study the effects of cocaine on monkeys.&nbsp;
But when it comes to clean energy, at least, the success of the last stimulus was undeniable because it wasn&rsquo;t just Tesla.&nbsp;
In the Obama years, wind power in the U.S. quadrupled. Solar power generation grew by a staggering 3,900%. And the cost of electric vehicle batteries fell by more than 70%.
Don&rsquo;t Miss: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/02/30842179/a-new-supply-chain-3d-printing-allows-for-the-creation-of-a-global-decentralized-supply-">A New Supply Chain: 3D Printing Allows For The Creation Of A Global, Decentralized Supply Network</a>
You can see the effects of this in the First Trust NASDAQ Clean Energy Index Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcln#NASDAQ">QCLN</a>), which has returned 541% compared to 453% for the S&amp;P 500, since Obama breathed life into the U.S. renewables sector.&nbsp;
In August, President Joe Biden signed another $369 billion in clean energy stimulus into law. It amounts to tens of billions of dollars in tax credits, paired with direct spending on clean energy, for the sector.&nbsp;
If $89 billion created Tesla as we know it, sparked a 3,900% rise in the solar industry and kicked off a clean energy rally that&rsquo;s outpaced the S&amp;P 500 over 13 years, what will $369 billion do for clean energy investments today?
For Investors: Clean Energy presents a massive opportunity for investors. The stock market has a number of stocks and funds outperforming the market. The startup world presents similar strong investment opportunities. Startups like <a href="https://www.benzinga.com/topic/yousolar">YouSolar</a> are capitalizing on this billion dollar trend with their nano-grid batteries.&nbsp;
Read More in Startup News &amp; Investing Opportunities:&nbsp;
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<li><a href="https://www.benzinga.com/news/23/02/30669173/this-startup-built-the-worlds-first-ai-marketing-platform-that-can-understand-emotion-and-some-of-th">This Startup Built the World&#39;s First AI Marketing Platform That Can Understand Emotion and Some of the Biggest Companies on the Planet Are Already Using It</a></li>
</ul>
<ul>
<li><a href="https://www.benzinga.com/news/22/12/30001115/never-lose-your-things-again-the-startup-pouring-gasoline-on-the-apple-airtag">Never Lose Your Things Again &mdash; The Startup Pouring Gasoline on the Apple AirTag</a></li>
</ul>
<ul>
<li><a href="https://www.benzinga.com/news/23/02/30769602/the-worlds-first-floating-lifestyle-club-is-set-to-launch-this-year">The World&#39;s First Floating Lifestyle Club is Set To Launch This Year</a></li>
</ul>

Startups

12 Years Ago, a Little-Known Catalyst Created Tesla as We Know It. What's Hitting Markets Now Is 4x Bigger

The metals and mining sector may not be the most exciting group of&nbsp;assets at the moment, but that could change in the coming years.
The increasing demand for mining commodities has been driven by the global efforts for green energy. S&amp;P Global suspects that supply constraints will send metals to above-average prices through 2025.
The World Steel Association reported that every metric ton of steel produced in 2020 emitted 1.8 tons of carbon dioxide into the atmosphere. It&rsquo;s a staggering statistic because it means that every metric ton of steel produced emitted almost double its weight in byproduct.
The global demand for a smaller carbon footprint has pressured companies that mine and process metals into pursuing&nbsp;innovation.
For example, Swedish metals manufacturer SSAB in collaboration with LKAB minerals and state-owned power company Vattenfall are the first in the world to produce &lsquo;green&rsquo; or fossil-free steel. This is done using a process called HYBRIT (Hydrogen Breakthrough Ironmaking Technology) which burns hydrogen created by renewable energy to produce electricity that is used to create the steel.
Also Read:&nbsp;<a href="https://www.benzinga.com/general/education/22/04/26440153/thanks-to-rise-in-copper-prices-the-penny-is-worth-more-than-1-cent-heres-how-much">Thanks To Rise In Copper Prices, The Penny Is Worth More Than 1 Cent: Here&#39;s How Much</a>
The demand for lithium, a primary element in the production of batteries, is expected to grow to $6.62 billion by 2028 largely due to the&nbsp;booming growth of the electric vehicle industry.
Rare earth metals&nbsp;used in EV batteries, computers, fiber optics, and superconductors have also seen increasing demand. The market is expected to grow to $9.6 billion by 2026, up from $5.3 billion in 2021.
Here are some of the stocks an investor should consider amid the high global demand for metals.
Lithium
<ul>
<li>Alcoa Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/aa#NYSE">AA</a>)</li>
<li>Albemarle Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/alb#NYSE">ALB</a>)</li>
<li>Livent Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lthm#NYSE">LTHM</a>)</li>
<li>Lithium Americas Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lac#NYSE">LAC</a>)</li>
<li>Standard Lithium Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sli#NYSE">SLI</a>)</li>
<li>Sociedad Quimica y Minera de Chile (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sqm#NYSE">SQM</a>)</li>
<li>Piedmont Lithium Ord Shs (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pll#NASDAQ">PLL</a>)</li>
</ul>
Rare Earth
<ul>
<li>Mp Materials Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mp#NYSE">MP</a>)</li>
<li>Lynas Rare Earths Ltd (OTCMKTS: LYSCF)</li>
<li>Luxfer Holdings PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lxfr#NYSE">LXFR</a>)</li>
<li>II-VI, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iivi#NASDAQ">IIVI</a>)</li>
<li>Global X Disruptive Materials ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dmat#NASDAQ">DMAT</a>)</li>
</ul>
Mining
<ul>
<li>WEC Energy Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wec#NYSE">WEC</a>)</li>
<li>Aspen Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azpn#NASDAQ">AZPN</a>)</li>
<li>Yamana Gold Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/auy#NYSE">AUY</a>)</li>
<li>Turquoise Hill Resources Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trq#NYSE">TRQ</a>)</li>
</ul>
Renewable Energy
<ul>
<li>iShares Global Clean Energy ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/icln#NASDAQ">ICLN</a>)</li>
<li>Invesco Solar ETF (ARCA: TAN)</li>
<li>First Trust NASDAQ Clean Edge Green Energy Idx Fd ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcln#NASDAQ">QCLN</a>)</li>
<li>Enphase Energy Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enph#NASDAQ">ENPH</a>)</li>
<li>Solaredge Technologies Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sedg#NASDAQ">SEDG</a>)</li>
<li>Sunrun Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/run#NASDAQ">RUN</a>)</li>
<li>Bloom Energy Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/be#NYSE">BE</a>)</li>
</ul>

Commodities

Small Cap

AZPN

DMAT

IIVI

LTHM

LXFR

SEDG

Why This Boring Sector Could Be A Top Trender In The Next Few Years

There are going to be three key themes for the coming year, 2021, which will make some ETFs very attractive &mdash;&nbsp;something investors should keep an eye on &mdash;&nbsp;as per&nbsp;Ned Davis Research&rsquo;s Senior Portfolio Strategist Pat Tschosik.
Cannabis sector under the Democratic President-elect Joe Biden,&nbsp;the impact of Covid-19 vaccine manufacturing and distribution, and the electric vehicles segment are expected to emerge as the key themes for 2021, Tschosik said, as <a href="http://www.cnbc.com/2020/12/06/using-etfs-to-play-three-likely-big-themes-for-2021green-wave-covid-recovery-biden-agenda-ned-davis-breaks-down-how-to-play-these-themes-in-2021.html">reported</a> by CNBC.
Legalized Cannabis Under Joe Biden&rsquo;s Term: Tschosik believes that with the Democratic party at the helm of affairs, cannabis stocks may witness significant tailwinds in 2021. During the elections, four states, namely New Jersey, Arizona, South Dakota, and Montana <a href="https://www.benzinga.com/markets/cannabis/20/11/18347489/2020-ballot-results-where-is-weed-legal">legalized</a> the possession and use of marijuana.
The Ned Davis Research&rsquo;s strategist opines that furthering cannabis legalization on a nationwide level will not only be seen as a progressive agenda of the party but also generate a new model for tax collections on a state level.
The analyst recommends buying Global X Cannabis ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/potx#NASDAQ">POTX</a>), which has gained 44.76%&nbsp;since the election day, and&nbsp;iShares US Healthcare Providers ETF&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihf#NYSE">IHF</a>) &mdash; up&nbsp;10% in the same period, to gain exposure to the sector.
Since Nov. 3,&nbsp;Canopy Growth Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) stock is up 39.7%, Aurora Cannabis Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acb#NYSE">ACB</a>) by 122%, and Tilray Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tlry#NASDAQ">TLRY</a>) by 30%.
Impact of COVID-19 Vaccine: The news of multiple successful vaccine candidates is spurring hawkish market sentiments. These sentiments are not just restricted to healthcare companies, but also other businesses like retail stores, amusement parks, cinema halls, travel, and tourism, that suffered during the lockdown.
Stocks of travel and leisure companies are set for a rebound next year and Ned Davis Research strategist believes that&nbsp;Invesco Dynamic Leisure &amp; Entertainment ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pej#NYSE">PEJ</a>) and&nbsp;US Global Jets ETF (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jets#NYSE">JETS</a>) provide key exposure to the sector. Both the ETF&#39;s have dropped this year, with PEJ by 15% and JETS by 26%.&nbsp;
Movie theatre chain AMC Entertainment Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) stock is up 50% since Nov. 3 and Walt Disney Company&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) by 24%. Airliner United Airlines Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) has risen 44% since the election day. Vacation rental booking company Airbnb Inc&nbsp;is also reportedly targeting a valuation of up to $42 billion in its upscaled IPO amid high demand.
Electric Vehicles,&nbsp;Renewable Energy Sources: Tschosik believes that the next year could be marked by a systematic growth in the electric vehicles and clean energy segment, CNBC reports. &ldquo;Clean energy momentum could continue for decades given the backing from both governments and private industry,&rdquo; as per the analyst.
The senior strategist lists two promising ETFs - the First Trust NASDAQ Clean Edge Green Energy (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcln#NASDAQ">QCLN</a>) and&nbsp;Global X Autonomous &amp; Electric Vehicles ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/driv#NASDAQ">DRIV</a>) as buys for exposure to the sector. On a year-to-date basis, QCLN has gained close to 142%&nbsp;and DRIV by approximately 51%.
EV market leader Tesla Inc&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) stock has jumped close to 600% since the beginning of the year. The stock rallied stronger in the second half of August and then in the second half of November.
Many Chinese EV companies raised funds from IPO listings in the U.S this year. Xpeng Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xpev#NYSE">XPEV</a>), an EV company backed by Chinese tech giant Alibaba Group Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/baba#NYSE">BABA</a>), <a href="https://www.benzinga.com/news/20/08/17282493/alibaba-backed-ev-maker-xpeng-shoots-up-41-on-nyse-debut-after-1-5b-ipo">generated</a> $1.5 billion from the IPO in late August. Li Auto Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/li#NASDAQ">LI</a>) secured $1.1 billion from the IPO offering in July.

Cannabis

Travel

Restaurants

BABA

DRIV

iShares Dow Jones US Health Care Provides Index Fund

JETS

PowerShares ETF Leisure & Entertainment Port

POTX

TLRY

XPEV

Analyst Recommends These ETFs To Play 3 Key Themes For 2021 — EVs, Cannabis, And COVID-19 Recovery

Few industries priced in a victory by now President-elect Joe Biden in the months leading up to Election Day on par with renewable energy.
What Happened: The related exchange-traded funds prove as much. All the First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qcln#NASDAQ">QCLN</a>) has done over the past six months&mdash;a period including plenty of positive polling data for Biden and, ultimately, his victory, QCLN is higher by more than 120%.
It&#39;s easy to understand why investors are bidding up renewable energy ETFs as Biden bets. As a candidate, he overtly <a href="https://joebiden.com/climate-plan/">campaigned on climate change</a> and related issues.
&ldquo;Biden believes the Green New Deal is a crucial framework for meeting the climate challenges we face,&rdquo; according to his campaign site. &ldquo;It powerfully captures two basic truths, which are at the core of his plan: (1) the United States urgently needs to embrace greater ambition on an epic scale to meet the scope of this challenge, and (2) our environment and our economy are completely and totally connected.&rdquo;
Why It&#39;s Important: For its part, QCLN is proving appealing because it doesn&#39;t isolate a singular concept, such as wind or solar. Rather, it&#39;s a broad-based fund, reflecting the expanse of the alternative energy segment.
&ldquo;QCLN&rsquo;s methodology delivers a broad, diversified approach to the theme, and has captured several clean energy trends as the industry has grown and evolved,&rdquo; <a href="https://www.ftportfolios.com/Commentary/Insights/2020/11/10/first-trust-green-energy-etf-primer">according to First Trust</a>. &ldquo;For example, at the beginning of 2011, consumer discretionary and materials stocks combined accounted for less than 4% of the portfolio. As the electric vehicle and advanced battery market has grown, the combined weight of the two sectors has increased to 24.5% as of 9/30/2020.&rdquo;
Said another way, QCLN is rallying this year, perhaps so than anything related to Biden, because it allocates almost 20% of its combined weight to Nio (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nio#NYSE">NIO</a>) and Tesla (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>).
What&#39;s Next: Let&#39;s be real. Politicians have a way of disappointing voters and QCLN was performing quite well under President Donald Trump, which is to say Biden isn&#39;t the end all and be all of QCLN&#39;s fortunes.
In fact, the fund offers avenues for buffering against the possibilities of political disappointments.
&ldquo;Semiconductors play a key role in clean energy by enabling clean, renewable energy sources and improving energy efficiency,&rdquo; notes First Trust. &ldquo;Semiconductor materials are the basis for solar electric energy systems. Solar power companies, which are also classified as semiconductor stocks, made up most of QCLN&rsquo;s exposure to the industry as of 9/30/20. In our opinion, QCLN provides investors with exposure to these technologies and innovations behind the clean energy transition.&rdquo;
Photo by <a href="https://unsplash.com/@gmalhotra?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Gayatri Malhotra</a> on <a href="https://unsplash.com/s/photos/joe-biden?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>

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