Tuesday, June 30, 2020

Tesla, electric-vehicle stocks have fully charged quarter

Electric-vehicle makers took off for U.S. stock investors in the second quarter. Tesla Inc. more than doubled, surpassing $1,000 a share for the first time and setting the stage to overtake Toyota Motor Corp. as the world’s most valuable carmaker. Nikola Corp., a truck developer that agreed to go public in March by merging with a blank-check company, advanced 535%. Workhorse Group Inc., a delivery-van company that had less than $100,000 of sales in the previous four quarters, soared 861% for the sharpest gain in the Russell 3000 Index. The company joined the Russell 3000 on Monday after the index’s annual overhaul.

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