Top 5 Auto Stocks Fueling Retail Investor Buzz In 2024
By Stocktwits Inc | First Published Dec 27, 2024, 12:21 AM ISTStocks like Tesla, Honda, and Faraday Future saw massive spikes in message volume on Stocktwits, driven by major announcements, financial challenges, and fears of regulatory shifts.
The automotive sector, particularly electric vehicle (EV) makers and legacy automakers transitioning to EVs, remained a hotbed of retail investor activity in 2024.
Here are the top five auto stocks that saw the highest surge in message volumes on Stocktwits this year:
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Faraday Future Intelligent Electric Inc. (FFIE): +4,933% Message Volume
Dubbed a “classic” meme stock, Faraday Future surged in retail chatter following Keith Gill’s (Roaring Kitty) return to social media. The buzz amplified after the company secured $30 million in financing commitments, though its financial woes and minimal deliveries of its FF91 EVs cast doubt on its future. FFIE shares are down over 95% year-to-date.
Honda Motor Co. Ltd. (HMC): +4,800% Message Volume
Honda generated intense buzz after officially confirming merger talks with Nissan. The move aims to create the world’s third-largest automaker to better compete with Chinese EV giants and U.S. rivals like Tesla. Despite the excitement, Honda’s U.S.-listed shares are down over 7% this year.
Tesla Inc. (TSLA): +1,140% Message Volume
Tesla had a volatile year, starting with demand concerns and margin pressures but ending as a phenomenal performer with an 86% year-to-date gain. Key events included a third-quarter profit beat, plans to expand Full Self-Driving technology to China and Europe, and a turnaround driven by Donald Trump’s election win, which brought hopes of regulatory tailwinds for Tesla.
Polestar Automotive Holding (PSNY): +1,071% Message Volume
Polestar maintained retail interest with solid delivery numbers and plans to achieve cash-flow break-even by 2025, even as Wall Street’s 2024 expectations of 100,000 deliveries weigh. Concerns over Trump’s potential rollback of EV-friendly policies has added pressure, with shares dropping over 52% this year.
Lucid Group Inc. (LCID): +833% Message Volume
Lucid remained in focus as one of the few pure-play U.S. EV makers, launching production of its high-end Lucid Gravity SUV. CEO Peter Rawlinson has hinted at potential automaker partnerships, but production challenges and regulatory uncertainties under Trump’s administration weighed on sentiment. LCID shares have declined 22% year-to-date.
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