Electric Vehicle Stocks: Why EV Plays TSLA, NIO, RIVN, LCID and XPEV Are Falling Today
Electric vehicle (EV) stocks are on the move today as several top players in the space see their shares fall.
There’s no specific news from the market that has EV stocks dropping today. Instead, today’s slips are likely connected to the larger status of the stock market. Shares aren’t doing so hot today for a variety of reasons.
Some of the factors pulling the stock market down on Monday include rising interest rates, inflation, a potential war in Ukraine, and more. You can get up to speed on these matters by following this link.
Let’s take a look at how this is affecting certain EV stocks below!
EV Stocks Falling on Monday
- Tesla (NASDAQ:TSLA) stock is dropping more than 8% as of Thursday afternoon. With that comes roughly 24 million shares trading, as compared to its daily average trading volume of about 28.6 million shares.
- Nio (NYSE:NIO) shares are taking a beating next with the stock down 14% as of this writing. Along with that are almost 48 million shares changing hands, which is close to its daily average trading volume of 48.1 million shares.
- Rivian Automotive (NASDAQ:RIVN) stock joins the list with the EV company’s shares slipping 13% this afternoon. That comes with some 12 million shares on the move, as compared to the 24.7 million that trade on average per day.
- Lucid (NASDAQ:LCID) shares make our list with the company’s stock taking an over 6% beating today. With that are some 26 million shares changing hands, as compared to its daily average trading volume of around 78.6 million shares.
- Xpeng (NYSE:XPEV) stock closes out our falling EV stocks list with shares down more than 10% as of this writing. That comes alongside 8 million shares trading, as compared to a daily average of roughly 12 million shares.
There’s more stock market news investors will want to know about below!
We’ve got all the most recent stock coverage that traders need for Monday! Among that is BT Brands (NASDAQ:BTBD) stock chatter on social media, Peloton (NASDAQ:PTON) losing steam, and Exterran (NYSE:EXTN) preparing for a merger. You can find out all about these matters at the following links!
More Monday Stock Market News
- BTBD Stock: The Social Media Chatter That Is Giving Fast Food Play BT Brands a Big Boost Today
- PTON Stock Alert: 7 Things to Know as Peloton Trips (And Falls) Again
- EXTN Stock: Why Energy Penny Stock Exterran Is Exploding Higher Today
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.