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MARKETS LIVE BLOG:

NASDAQ FUTURES POP, TESLA STOCK SURGES AFTER EARNINGS

Tesla shares jump after EV maker vows to speed up launch of more affordable models

Why Nio, Canoo, and Lucid Stocks All Popped Today

Rich Smith, The Motley Fool
Updated ·3 min read
Why Nio, Canoo, and Lucid Stocks All Popped Today

Tuesday is looking great for car stocks, as news of a surprise earnings beat from CarMax lifted investor hopes for brighter days ahead for EV stocks Lucid Group (NASDAQ: LCID), Nio (NYSE: NIO), and Canoo (NASDAQ: GOEV) -- which were up 4.6%, 5.1%, and 6.2% respectively, as of 11:55 a.m. ET. This morning, the used-car superstore announced an astonishing earnings beat, with earnings coming in at a strong $0.44 per share instead of the $0.24 that investors expected. CarMax earned more than expected despite sales being only $5.7 billion (instead of the $6 billion that was expected, according to forecasts from The Fly).

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