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Freyr Battery's (FREY) Q4 results are likely to reflect its further progress with the Giga America battery manufacturing project amid high general and administrative expenses.
Tesla began offering a temporary $1,000 discount on certain variants of one of its popular models. Chevrolet also set the pricing for its all-electric SUV.
NEW YORK & OSLO & LUXEMBOURG--(BUSINESS WIRE)--FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity, will publish a press release detailing fourth quarter and full-year 2023 results and conduct a conference call on February 29, 2024. The fourth quarter and full-year 2023 press release will be issued by 6:00 am U.S. Eastern Standard Time (12:00 pm Central European Time). The conference call is scheduled to begin at 8:30 am Eastern Standard.
Last week's announcement that Hertz is selling 20,000 cars from its EV fleet continues to drag on EV stocks. High repair costs and low demand underlie Hertz's decision.
Investors should pay special attention to battery stocks as 2023 winds down. Shares of companies that produce battery cells, batteries themselves, and the metals used therein have had a tough run of it lately.
Freyr, Lucid, and Fisker stocks are all down double digits in 2023 -- and they're not alone. Today, the Wall Street Journal published a report on the financial troubles facing literally dozens of former SPAC EV stocks.
Freyr Battery (NYSE: FREY ) stock rose nearly 10% in pre-market trading after the company gave analysts a positive review of its efforts to make its SemiSolid battery technology platform. FREY stock was trading in the pre-market at $1.54, a market capitalization of nearly $200 million.
The heavy selling pressure might have exhausted for FREYR Battery (FREY) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
FREYR is set to delay its CQP facility as a response to European government subsidies remaining out of reach. The company is fully pivoting to the US to take advantage of 2022 Inflation Reduction Act subsidies. This pivot will see its Giga America factory produce conventional batteries for sale by 2025.
FREYR Battery (NYSE: FREY ) is among the most closely-watched stocks in today's session. This company, which focuses on energy storage systems and the production of lithium ion-based battery cells, saw significant attention as a key potential innovator in the race for improved battery technology.