Why Lucid, Nikola, and Arrival Stocks Jumped Today

It hasn't been a good start to the year for most electric vehicle (EV) stocks. The downturn in the technology-focused Nasdaq Composite index has helped drive the more speculative and high-risk stocks down sharply. That includes EV makers Lucid Group (NASDAQ: LCID), Nikola (NASDAQ: NKLA), and Arrival (NASDAQ: ARVL). One month into 2022, shares in Lucid, Nikola, and Arrival are down 23%, 16%, and 39%, respectively. But that tide has swung back today, with these names jumping between 5% and 18% this morning.

As of 3:31 p.m. ET, Lucid had given up most of its gains and remained up only 1%, with Nikola and Arrival shares holding gains of 3.7% and 15.3%, respectively.

Image source: Getty Images.

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Source Fool.com