Shares of electric vehicle (EV) stocks jumped Thursday as investors processed the news out of Wednesday's Federal Reserve meeting, and specifically, its decision to keep the benchmark federal funds rate unchanged at between 5.25% and 5.5%.

Second-tier EV companies were the ones most impacted by the news. Rivian (NASDAQ: RIVN) rose by as much as 10%, Lucid Group (NASDAQ: LCID) popped by as much as 12.3%, and Fisker (NYSE: FSR) jumped by as much as 9.7%. As of 1:40 p.m. ET, the stocks were up 7.8%, 10.4%, and 8.2%, respectively.

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Source Fool.com