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Why NIO, Nikola, and Arrival Stocks Jumped Monday

TheMotleyFool

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Why NIO, Nikola, and Arrival Stocks Jumped MondayPhoto, wide shot, wide-angle lens, soft focus, Car manufacturer, sunset photo at golden hour, photo by Art Wolfe: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-iZxNvwmEDAT2zuvMswp8MrIk.png?st=2023-05-08T05%3A56%3A42Z&se=2023-05-08T07%3A56%3A42Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-08T03%3A27%3A06Z&ske=2023-05-09T03%3A27%3A06Z&sks=b&skv=2021-08-06&sig=hpaom2wRNOR4VGolGAMc0MX1MdH9zOmjK0MSBHrfkTo%3D

Many stocks in the electric vehicle (EV) sector have been out of favor with investors so far in 2021. Three that have rebounded sharply in the past week are NIO (NYSE: NIO), Nikola (NASDAQ: NKLA), and U.K.-based Arrival (NASDAQ: ARVL). That continued today with NIO shares up 4.6%, Nikola up 7.9%, and Arrival higher by 8.6% as of 3:20 p.m. EDT.

There is no company-specific news that came out today for these names. An overall positive sentiment has been pushing EV stocks higher recently. In the last week, the gains in these stocks have been noteworthy.