🚖EV Charging Stocks are Rosy again🔦

The wave of goodness seems to shine on EV charging companies as congress passed a $1 trillion package that provides a $7.5 billion in funding for building EV charging facilities for the next 5 years.

The charging stations are mainly on the highways, with a $2.5 billion in funding on alternative charging methods such as hydrogen-fueling modes. President Biden expects the bill to help spur more than half a million charging stations and march towards having 50% of the vehicles to be electric by 2030.

Beyond conventional EV sedan cars, the bill also allocated around $7.5 billion for introducing electric vehicles for school buses and ferries. Notably, we can see better prospects for CHPT, EVGO, BLTA and BLNK as companies that could benefit from the infrastructure bill.

Pika World continues to maintain exposure to the EV-related sectors.

💻Trade Desk Back on Track📟

The advertising technology company beats earnings estimates where revenue jumped by 39% compared to last year, which beat an estimated $283.5 million. However, the company continued to be cautious as it saw a larger uncertainty for the business outlook. Moreover, advertising demand had moderate given the pandemic.
Pika World is looking for entry into the stock.

🛻Is Rivian Valuation too Demanding?🏘

This week, the electric truck maker is expected to go public with a market valuation ahead of legacy car markers such as Honda Motor. However, it had only sold a small number of vehicles.

To some analysts, it might even be worth the price. It has backers from Ford and Amazon, which helped the company burn through $1.6 billion in the first half of 2021. In addition, the company is focused on building its manufacturing plant as it is set for more production ahead.

It is expected to sell around 135 million shares at $72 to $74 each. Taking a price tag of $73 per share, it will fetch a valuation of $64 billion based on 882 million outstanding shares. You might think the valuation is too pricey, but one cannot deny the sexiness of the electric vehicle market.

Moreover, Pika World believes that the addressable markets for trucks and sport utility vehicles are enormous. Almost half of the new vehicles sold are SUVs, and 20% are pickup trucks, pointing to a large potential market.

Pika World is interested in the company but will be waiting for the right entry once it is IPO.

📮What’s on the Menu Today?

At 8.30 pm, we will receive the Core PPI data, which we expect to rise to 0.5% from 0.2% in the prior period.

The PPI data will be out, and we are likely to see a rise to 0.6% compared to 0.5% in the last period.

Uncle Powell is also expected to speak at 9 pm, and we might get further clues on the economic path ahead.

It is 9 Nov, Tuesday, at 7.25 am in Singapore and 7.25 pm in New York. The first trading day has been a ride, and we hope all friends of Pika World have a marvellous week ahead.

To all readers who are in University preparing for your examination, Pika Nat wishes you Moonatic results.