Tesla Stock Lifts Off, Lucid's 'Ready To Delivery' Offer, Rivian Worker Safety Complaint And More: Week's

Electric vehicle stocks had another down week, despite the broader market reversing course amid hopes of the Federal Reserve relenting from an extremely hawkish stance. Market leader Tesla, Inc. TSLA bucked the downtrend, thanks to some bullish analysts comments.

Now, here are the key events that happened in the EV space during the week:

Teslas China Woes Abound But Stock Makes Comeback: Even as bulls have been lamenting about CEO Elon Musks Twitter missteps and slowing China demand, a few analysts rallied around the EV maker, which saw its stock plunge to a two-year low. While Morgan Stanleys Adam Jonas flaunted the grand sale of the stock by touting its 100% appreciation potential, longtime bear and Citis Itai Michaeli was tempted by the value proposition of the stock following its recent underperformance. He shifted his stance from a Sell to Neutral.

In another important development, a Chinese local media outlet reported that Tesla is mulling a third price cut in China as demand has not picked up in reaction to its previous two cuts. In late October, Tesla reduced the price of its Made-in-China EVs by about 5% and followed it up with a deduction on insurance payments in early November.