Why Arrival, Cenntro Electric, and Lordstown Motors Shares Are Down Today
Shares of many companies in the electric-vehicle (EV) space opened sharply lower amid a broad-based market sell-off on Monday. There were several catalysts for the sell-off, including rising interest rates and geopolitical concerns. Traders and investors seemed eager to exit high-risk positions, a category that includes many EV-related stocks.
Here's where things stood for these three EV stocks as of 11:45 a.m. ET, relative to their closing prices on Friday.
Concerns about a potential conflict between Russia and Western powers, likely interest rate hikes in the U.S., and a major sell-off of crypto assets over the weekend combined to leave traders and investors in no mood for the stocks of speculative early-stage companies when markets opened on Monday
Source Fool.com
