Why Rivian Stock Dropped Today, But Canoo and Lucid Popped

Electric vehicle (EV) stocks started the week all shook up on Monday, as news releases from Ford (NYSE: F) and (NASDAQ: TSLA) sent investors scrambling to figure out which way is up.

At 12:45 p.m. ET today, shares of Rivian Automotive (NASDAQ: RIVN) are down a distressing 4.4%, while its rival Lucid Group (NASDAQ: LCID) is up 5.3%. Canoo (NASDAQ: GOEV), another upstart in the EV space, is seeing its stock swing wildly today, first falling more than 11% in the morning, then gaining it all back, and rising as much as 3%. As of 12:45, this maker of electric vans and trucks is just barely in the green, up a tiny fraction of 1% percent.

What's the source of all this confusion? In a one-two punch of good news (for them) but bad news (presumably) for everyone else, first Tesla announced over the weekend that it has officially begun construction of its all-electric Cybertruck for sale. 

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Source Fool.com