Why Rivian and Lucid Stocks Jumped, but Nio Dropped Today
Shares of U.S. electric vehicle (EV) makers Rivian Automotive (NASDAQ: RIVN) and Lucid Group (NASDAQ: LCID) are bucking the market trend today. The stocks of both start-ups are on the rise, while Chinese EV company Nio (NYSE: NIO) is dropping. The reasons for the discrepancy are likely a mix of geopolitical tensions and company-specific volatility.
While all three EV makers' stocks started the day down at least 7%, Rivian and Lucid have turned positive. As of 12:41 p.m. ET, Rivian and Lucid shares were up 3.1% and about 1%, respectively, while Nio shares remained lower by 1.1%.
Image source: Rivian Automotive.
Source Fool.com
