North Pole News: Santa Retires Reindeer, Elves Build the BlitzBuggy 3000, Santa’s Electric Charged Sleigh

Santa Claus has announced that he will be unveiling his new and improved electric sleigh this season. As the cost of reindeer food has skyrocketed due to inflation, the jolly jingler plans to retire his 9 deerpower sleigh and upgrade to something a little sleeker and more fuel efficient. Rumors have circulated that the sleigh name has caused some animosity between the revered reindeer, Rudolph, and flyboy Blitzen. However, when asked about his recent involuntary retirement, the only concern Rudolph expressed regarding the BlitzBuggy, was its headlight capability. While the reindeer have mixed feelings on being replaced, they are over the moon about receiving a nice pension from the City of the North Pole’s Sleigh Flyers Union.

We sat down with Santa to discuss the specs and innerworkings of his new BlitzBuggy and highlighted some electric focused stocks you might consider to help “sleigh” your portfolio performance.

The Reindeer Replacement

Santa hasn’t given up on a sleigh run by deer completely. The BlitzBuggy 3000 is fully equipped with a battery powered ReignDeere Engine designed exclusively for Santa, by John Deere. Some engine specs include 18 deerpower, double from his previous version and the ability to power over 200 strands of lights. The engine holds a charge that should last at least 10 hours of flight time. Turnaround time on a full charge is about 30 minutes, making this sleigh engine a very impressive one.

Deere & Company (DE) who has joined the electric powered movement, gave Santa the name and design he was looking for however, he decided to use a non-Deere affiliated company, to really create that “Big Nick Energy” he was looking for (BNE). The Silicon Valley based start-up, Quantumscape Corp (QS) whose investors include Bill Gates and Volkswagen, touts a lithium battery with three times the energy density, faster charging times and a safer, sustainable design, over Tesla (TSLA). However, recent insider selling from top executives has been reported in the past month. Most recently, Chief Legal Officer Michael McCarthy sold ~44K shares. The stock is up ~30% YTD.

The Buggy Booster

We may have created a cause for concern by mentioning the ReignDeere engine only holds up to 10 hours of power. Do not worry. Santa feels incredibly confident that his new whimsical whip will be able to make it around the globe, in one night, without a hitch. To ease worried minds, ChargePoint is the official electric charge sponsor of the BlitzBuggy. The EV charging station provider has equipped exclusive Buggy Booster locations around the globe, where Santa will be able to recharge.

ChargePoint, Inc. (CHPT) operates the largest online network of independently owned EV charging stations and exists in 14 countries. Recently, the company announced disappointing Q3 earnings that included declining year-over-year revenues of 12%. Also cited was an inventory impairment charge that negatively impacted gross margins. The company has experienced the EV charging stock slump and is trading down ~73% YTD. Bet we know what they want for Christmas.

Comforts Of the North Polestar

Unfortunately, Xzibit was on the naughty list this year, so he wasn’t selected by Santa to “pimp his ride”. However, he did hire EV manufacturer Polestar to upgrade his sleigh that includes features such as hot cocoa cup warmers, a hands-free bell jingler, an airtight cookie storage compartment and a surround sound caroling system.

Polestar Automotive (PSNY) is based in Sweden. While it seems to be struggling on stock performance like many EV companies, PSNY recently announced production of the Polestar 4. First intended deliveries are expected to reach customers in China before the end of 2023. All other Polestar markets can anticipate an early 2024 arrival, of the new sleek model. PSNY is down ~56% YTD.

A Hot Market for A Cool Ride

For those of you wondering what Santa intends to do with his old sleigh, we asked him. Believe it or not, the used sleigh market is hot and people will pay big money for that classic “one-horse open” model. Thanks to Sleighvana, the guy with a belly like a bowl full of jelly, Ho, Ho, Ho’ed himself all the way to the bank. “The process was seamless. I received a real offer on my sleigh within minutes. I accepted. They flew like a flash and showed up at the North Pole to take the sleigh off my mittens, in minutes.” – Santa.

Carvana Co (CVNA) started the year around $5.00/share and is now trading at about $45/share, up ~870% YTD. Over the course of 12 months, the company has made strides in its operations by improving its outlook from cutting its debt load. Recently, Carvana bolstered its efficiencies during its investor tour and announced the launch of its same day vehicle delivery offering to its Cincinnati and Columbus customers.

Should he need a quick boost, Santa encourages all EV owners to provide access to your household charging stations, in place of milk and cookies. It could be what makes the difference between coal in your stocking or gifts under the tree this year. For those investors looking for some additional EV stock ideas, PRISM MarketView gives the gift of its ever evolving Emerging EV Index, tracking micro/small cap stocks, focused on the electric space. Check in for some new EV names to be debuting soon!