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Why Rivian, Lucid, and ChargePoint All Hit Record Lows Today

TheMotleyFool

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Why Rivian, Lucid, and ChargePoint All Hit Record Lows Today: https://g.foolcdn.com/editorial/images/714413/rivian-2022-r1t.jpeg

Several popular names in the electric vehicle (EV) sector saw their stocks hit new all-time lows this morning. Rivian Automotive (NASDAQ: RIVN) and Lucid Group (NASDAQ: LCID) dropped about 7%, while shares of ChargePoint Holdings (NYSE: CHPT) were down by 5.5% at its lows.

That brought all three stocks to record low levels. Over the past year, investors had driven shares of these stocks to lofty valuations based on just potential. Now it seems opinions -- and risk tolerances -- are changing.

As of 11:48 a.m. ET, Rivian shares were still trading down 5.9%. Lucid and ChargePoint bounced off the lows, but were still down 4.4% and 2.6%, respectively.

Source Fool.com

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