Stock

Here’s Why Cars.com Stock Is Bucking the Trend Today

What happened

Shares of automotive marketplace platform Cars.com (NYSE:CARS) are bucking the trend in the markets today. While the Dow Jones Industrial Average is dropping almost 1,000 points, or 2.75%, Cars.com stock is soaring. As of 11:39 a.m. ET, Cars.com shares were trading near highs of the day, up just over 19%. 

So what

The surge in shares comes on the first trading day after it was announced that Cars.com stock will be added to the S&P SmallCap 600 index. That change won’t occur until Dec. 2, but a move into an index will cause some mutual and exchange-traded index funds to buy the shares. That has other investors jumping in ahead of them today. 

People shaking hands while one hands car keys to the other.

Image source: Getty Images.

Now what

Cars.com will replace DSP Group, which is being acquired by S&P MidCap 400 member Synaptics in a deal expected to close Dec. 2. Today’s surge in the share

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Penske Stock Revving Up For Another Road Trip Higher?

Cars for sale have been in short supply, giving auto sellers like Penske Automotive Group (PAG) pricing power. On Tuesday, Penske stock hit an important technical milestone, with its Relative Strength (RS) Rating entering into the 90-plus percentile due to an upgrade to 91, up from 88 the day before.




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The new 91 RS Rating means that Penske stock has outperformed 91% of all stocks over the past year. Market research shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 at the beginning of a new price run.

Penske Stock Roared 400% Higher From Early 2020

A semiconductor shortage has hit new car makers hard, in most cases forcing them to cut back on production. With new car prices rising and in short supply, consumers turned to the used car market. That, in turn, has led

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Why Rivian Automotive Stock Keeps Running Higher

What happened

For the fourth day in a row — the fourth day since its initial public offering — shares of electric car upstart and purported Tesla-killer Rivian Automotive (NASDAQ:RIVN) marched higher Tuesday.

Through 10 a.m. EST, Rivian shares have already gained another 6.3% despite there being no new news today to explain the enthusiasm.

A green stock arrow rises higher.

Image source: Getty Images.

So what

No new news about Rivian, that is to say. As it turns out, though, one of Rivian’s competitors in the electric vehicle space, Lucid Motors (NASDAQ:LCID), just reported its third-quarter 2021 earnings last night — and it seems investors are pretty excited about that one.

Although Lucid reported wider losses and lower sales than anticipated, investors responded positively to the luxury electric car maker’s announcement that its Lucid Air sedan just won Motor Trend‘s Car of the Year award. They were also pretty pumped to learn

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Why Rivian Automotive Stock Zoomed Again Today

What happened

Shares of new initial public offering (IPO) electric car upstart, and purported Tesla-killer Rivian Automotive (NASDAQ:RIVN) tore up the track yesterday, racing out of the gate on IPO Day to score a 29% gain.

Do you think a gain of that size might have caught a few investors’ attention, and enticed them to try to join in the momentum trade? It did. Today as of 10:45 a.m. EST, Rivian stock is up another 10%.

Two smiling kids in a battery powered toy truck.

Image source: Getty Images.

So what

But seriously, that’s all that’s happening today. There is literally no new news to justify today’s rise in stock price. No news to explain why Rivian is now — as Barron’s puts it — “the most valuable U.S. auto maker after Tesla.”

Now what

With a market capitalization rapidly approaching $114 billion, Rivian stock is now more expensive than either General Motors ($89 billion) or Ford Motor

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