Why Rivian, Lucid, and Nikola Stocks Bounced Around Today
Electric vehicle stocks have been getting hit hard during the recent market swoon. Rivian Automotive (NASDAQ: RIVN), Lucid Group (NASDAQ: LCID), and electric heavy-duty truck maker Nikola (NASDAQ: NKLA) all bounced early today. In morning trading Tuesday, these stocks jumped between about 6% and 7%. But as the market gave back its gains on the day, so did these stocks. At 11:35 a.m. ET, Rivian shares were down 4.2%, while Lucid and Nikola were 2.8% and 5.9% lower, respectively.
Today's initial rebound came after several days of meaningful drops in these stocks. Over the last several trading days, Lucid stock had dropped 11.5%, while Rivian and Nikola shares were down 24%.
Image source: Rivian Automotive.
Source Fool.com