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Why EV Stocks Rivian, Lucid, and QuantumScape Raced Higher in July

TheMotleyFool

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Why EV Stocks Rivian, Lucid, and QuantumScape Raced Higher in July: https://g.foolcdn.com/editorial/images/785573/ev-driver-preparing-to-charger-an-electric-vehicle.jpg

Several electric vehicle (EV) stocks had outstanding returns in the month of July. That included Rivian Automotive (NASDAQ: RIVN) shares, which jumped 22.3%. The stock of fellow EV maker Lucid Group (NASDAQ: LCID) soared 34.9%, and EV battery maker QuantumScape (NYSE: QS) pushed 31.3% higher, according to data provided by S&P Global Market Intelligence.

Those moves each came from positive company-specific news. But much of those gains evaporated in just the first trading week of August. That shows just how volatile these early-stage EV stocks can be.

Let's review what made them jump, and whether the August retreat is now a buying opportunity.

Source Fool.com

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