Why Tesla, Lucid, and Rivian Stocks Dropped Today
2022 has started with a downturn in electric vehicle (EV) stocks, and that continued today. The stocks of EV leader Tesla (NASDAQ: TSLA), and start-ups Lucid Group (NASDAQ: LCID) and Rivian Automotive (NASDAQ: RIVN), are down between 15% and 37% year to date. Much of that drop occurred in tandem with investor sentiment moving away from many tech and speculative names. As of 12:23 p.m. ET today, shares of Tesla, Lucid, and Rivian are down as follows:
Tesla's drop, which brought its intraday market cap back below $900 billion, comes a day after news of a recall of its Full Self-Driving (FSD) beta software and some potentially concerning Chinese EV demand data.
Image source: Tesla.
Source Fool.com
