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EV Stocks: Why Are TSLA, RIVN, XPEV, RIDE, NKLA and LCID Riding Lower Today?

Electric vehicle (EV) stocks are on the move Monday as investors continue to react to warnings about rising interest rates.

A hand holds an electric vehicle battery charger up to a car representing EV Stocks.

Source: Shutterstock

Talk of increasing interest rates have investors selling off shares of high growth, high price-to-earnings stocks. EV stocks aren’t the only ones being affected, but the sector is feeling the impact of investor fears today.

Let’s take a look at how this is affecting some of the biggest EV stocks below!

EV Stocks Falling on Monday

  • Tesla (NASDAQ:TSLA) stock starts us off with shares down more than 2% as some 9 million units change hands. The company’s daily average trading volume is 27.4 million shares.
  • Rivian Automotive (NASDAQ:RIVN) shares are falling next with the stock slipping over 7% in morning trading. That comes with some 4 million shares trading, as compared to its daily average of 26.4 million shares.
  • Xpeng (NYSE:XPEV) stock is slipping roughly 8% lower with more than 3 million units on the move. The company’s daily average trading volume is closer to 11.6 million shares.
  • Lordstown Motors (NASDAQ:RIDE) shares are riding more than 6% lower in the EV sell-off with over 1 million shares trading. The company’s daily average is 8.2 million shares.
  • Nikola (NASDAQ:NKLA) stock join the list dropping over 5% this morning as some 5 million units move. The EV company’s daily average trading volume is 13.4 million shares.
  • Lucid  (NASDAQ:LCID) shares finish off our EV stocks list down slightly this morning amid 15 million shares trading. The company’s average trading volume 74.5 million shares.

Investors seeking more stock market news are in the right place!

InvestorPlace offers all the most recent stock coverage traders need to know about. For today, that includes what has Ocugen (NASDAQ:OCGN) stock rising, what to know about the new Zynga (NASDAQ:ZNGA) deal, as well as this morning’s biggest pre-market stock movers. You can find out more about these matters at the links below!

More Monday Stock Market News

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.

Article printed from InvestorPlace Media, https://investorplace.com/2022/01/ev-stocks-why-are-tsla-rivn-xpev-ride-nkla-and-lcid-riding-lower-today/.

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