Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, January 12th. I'm Julie Morgan.

Evie names fall after one car rental company hits the gas pedal.

CVS is reportedly closing some pharmacies inside Target, and Amgen may be evaluating a bid for cytokinetics.

Thursday on the afternoon edition of this podcast,

Wall Street Lunch, we told you that Hertz is cutting its losses in its adoption of

electric vehicles and has decided to sell 20,000 EVs or one-third of its

global fleet. The company plans to reinvest a portion of the proceeds in internal combustion

engine vehicles. So how did EV stocks respond to that news? Well the

Hertz development may be a contributing factor to a downward

share price movement for EV names, Tesla closed down 2.87 percent,

Fisker was down 6.31 percent, Lucid Group fell 4.4 percent.

Rivian Automotive closed the day down Thursday 1.47 percent and Poll Star Automotive was down 8%. Detroit Automakers Ford and General Motors were also in negative territory.

Although the volume of Hurtz TVs being sold is not overwhelming, the decision means that the original plan to buy 100,000 Tesla's for its fleet is unlikely to happen soon.

It has also added to growing demand worries in the

electric vehicle sector which have been amplified by pullbacks on some of the

aggressive EV production targets. The automobile stock that bucked the tape on Thursday is Toyota

which closed up 1.16%.

Meanwhile Tesla's Berlin factory is suspending production for two weeks as the conflict in the

Red Sea slows deliveries of necessary components.

The carmaker said in a statement cited by Reuters that the considerably longer transportation times are creating a gap in supply chains.

The factory in Germany will be closed January 29th to February 11th.

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