Why EV Stocks Plunged in June

June 2024 was a rough month for unprofitable electric vehicle (EV) stocks. We saw Fisker file for bankruptcy with a plan to liquidate assets, not restructure in hopes of keeping the business alive. This was a warning for the companies in public markets that are unable to fund themselves long term.

According to data provided by S&P Global Market Intelligence, 's (NYSE: NIO) shares fell 22.8% in June, Nikola (NASDAQ: NKLA) fell 46.7%, and Chargepoint (NYSE: CHPT) fell 10.1%. If conditions don't improve soon, the fall may not be over.

Image source: Getty Images.

Source Fool.com