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Why Nio, QuantumScape, and ChargePoint Tanked in December

TheMotleyFool

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Why Nio, QuantumScape, and ChargePoint Tanked in December: https://g.foolcdn.com/editorial/images/715248/electric_cars_charging_sunset.jpg

Investors in the electric vehicle (EV) sector had a bad final month of 2022. Chinese EV maker Nio (NYSE: NIO), battery developer QuantumScape (NYSE: QS), and charging network company ChargePoint (NYSE: CHPT) all dropped more than 20% in December. Nio lost 23.7%, QuantumScape 24.3%, and ChargePoint dropped 23.3%, according to data from S&P Global Market Intelligence. Those poor monthly returns capped off what was an extremely poor year for all three.