Many people have made huge profits by owning shares of Tesla (NASDAQ: TSLA). Ace investing pro Cathie Wood has benefited tremendously from Tesla's rise. The chief investment officer at active exchange-traded fund pioneer ARK Invest has dramatically boosted the performance of several of her ETFs by owning shares of the auto giant.
President Joe Biden said on Monday that internal combustion cars and trucks in the federal government's existing vehicle fleet will eventually be swapped out for electric vehicles (EVs). "The federal government... owns an enormous fleet of vehicles, which we're going to replace with clean electric vehicles made right here in America by American workers, creating millions of jobs, a million auto worker jobs, and clean energy, and vehicles that are net zero emissions," Biden said. At the moment, the federal government's standards mandate that it purchase cars in which at least 50% of their parts are made in the U.S. Biden promised to raise that standard, although exact details weren't provided.
Shares of lithium mining start-up Piedmont Lithium (NASDAQ: PLL) roared ahead in Monday trading to close the day up 14.8%. If you own shares of Piedmont, you can thank the friendly analysts at B. Riley Securities for your gains. Thank B. Riley, that is...and Tesla (NASDAQ: TSLA), too.