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In Review | Stocks | Technology
Nio, Tesla Made November ‘Electric Car Month’ at TradeStation
David Russell
December 1, 2020

November was “electric car month” at TradeStation as investors piled into stocks like Nio, Tesla and Xpeng.

The surge of activity on our platform followed a rising trend of “ESG” strategies, focused on “environmental, social and governance” priorities. So far, they’ve mostly targeted solar-energy stocks and electric vehicles.

The trend has also displaced bigger technology companies like Advanced Micro Devices (AMD), Facebook (FB) and Netflix (NFLX). Those have mostly drifted since the end of the summer as investors shifted away from large members of the Nasdaq-100 index.

Here’s the complete list for November:

  1. Nio (NIO): The Chinese electric-car maker rose from fifth place in October.
  2. Tesla (TSLA): The electric-car maker ended a four-month run as the busiest symbol.
  3. Amazon.com (AMZN): The e-commerce giant inched down from No. 2.
  4. Apple (AAPL): The iPhone maker slipped one positon from the previous month.
  5. SPDR S&P 500 ETF (SPY): The market-tracking fund held fifth place.
  6. ProShares UltraPro QQQ (TQQQ): The leveraged Nasdaq-tracking fund slid two places.
  7. Palantir (PLTR): The software company jumped from 102nd, less than a month after its initial public offering.
  8. Xpeng (XPEV): The Chinese electric-car maker jumped from 231st in October. Its IPO was in late August.
  9. General Electric (GE): The industrial stock slid two notches last month.
  10. Invesco QQQ Trust (QQQ): The Nasdaq-tracking ETF reentered the top 10, rising from No. 11 in October.

Other relatively small electric-car companies gained popularity in November despite not making the top 10. They included:

  • Fuel Cell (FCEL): The fuel-cell company rose to 18th in November from 166th in October.
  • Li Auto (LI): The Chinese electric-car maker rose to 19th in November from 124th in October.
  • Electrameccanica Vehicles (SOLO): The Chinese electric-car maker rose to 23rd in November from 93rd in October.
  • Nikola (NKLA): The electric-vehicle developer rose to 24th in November from 47th in October.
  • Plug Power (PLUG): The hydrogen-fuel cell maker rose to 26th in November from 71st in October.

The following symbols exited the top 10:

  • Zoom Video Communications (ZM): The video-conferencing stock dropped from tenth in October to 12th in November.
  • Advanced Micro Devices (AMD): The semiconductor company dropped from ninth in October to 13th in November.
  • Pacific Biosciences (PACB): The genetic-sequencing company dropped from eighth in October to 438th in November.
Tags: AAPL | AMD | AMZN | FCEL | GE | LI | NIO | NKLA | PACB | PLTR | PLUG | QQQ | SOLO | SPY | TQQQ | TSLA | XPEV | ZM

About the author

David Russell
David Russell is Global Head of Market Strategy at TradeStation. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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