Electric vehicle (EV) stocks are losing power on Tuesday as some of the biggest names in the space see their shares fall.
So why are EV stocks down today? It all has to do with China. The country has been increasing regulations lately on companies that trade stocks in the U.S. Many EV companies are based out of China or plan to do business in it. As a result, shares are falling.
Let’s take a look at how today’s news is affecting EV stocks below!
EV Stocks Falling
- Nio (NYSE:NIO) stock starts us off with shares falling 9.8% Tuesday afternoon. This comes as nearly 72 million shares traded compared to its daily average trading volume of about 65.7 million shares.
- Xpeng (NYSE:XPEV) stock is up next with shares taking a 15.8% beating today. Alongside that is some 26 million shares changing hands compared to its daily average trading volume of roughly 15.4 million shares.
- Li Auto (NASDAQ:LI) stock joins the list with shares dropping 14.3% as of this writing. To go along with that is almost 17 million shares moving compared to its daily average trading volume of around 14.1 million shares.
- Nikola (NASDAQ:NKLA) stock isn’t safe from the damage either as shares decrease 5.8% today. In addition to that, over 4 million shares have traded compared to its daily average trading volume of close to 11.2 million shares.
- Hyliion (NYSE:HYLN) joins the EV stocks down today with a 4.5% decline. That’s happening as more than 1 million shares changed hands compared to its daily average trading volume of around 3.6 million shares.
- Workhorse (NASDAQ:WKHS) stock is likewise down 3.3% this afternoon. This is taking place as some 3 million shares have moved compared to its daily average trading volume of nearly 18.9 million shares.
- Lordstown Motors (NASDAQ:RIDE) stock closed out the EV stocks down list with shares dipping 7% today. That comes as some 7 million shares change hands compared to its daily average trading volume of about 11.6 million shares.
Investors looking for more stock market news will want to keep scrolling.
InvestorPlace has the latest stock news today that you need to know about. That includes why United Parcel Service (NYSE:UPS) stock is down, a midday market update, as well as what has Orbsat (NASDAQ:OSAT) on the rise. You can learn all about that at these links!
More Tuesday Stock Market News
- UPS Stock: 13 Reasons Why UPS Shares Are Taking a Hit Today
- Midday Market Update: Why Are Stocks Down Today?
- OSAT Stock: What Are Retail Investors Saying About Orbsat Today as Shares Surge
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.