EV Startups Continue Blistering Rally

Electric-vehicle startups such as Nikola, Lordstown Motors, and Workhorse Group are set to continue their winning streak in the stock market, with no apparent news or catalyst for the surge. Analysts and traders point to a potential short squeeze in highly shorted stocks, while retail investors have also shown interest in EV shares. The rally has added over $500 million to the collective market value of the EV startups and coincided with a record winning streak at market leader Tesla. However, challenges remain for the EV startups, including limited access to funding and thinning cash reserves.