Why Tesla, Rivian, and Lucid Stocks Moved Up Today

U.S.-based electric vehicle stocks were rising higher in early trading today. The moves were initially being led by Tesla (NASDAQ: TSLA), Rivian Automotive (NASDAQ: RIVN), and Lucid Group (NASDAQ: LCID). In early trading, the three stocks all jumped by about 5%. At 11:33 a.m. ET, however, those gains had slipped some. Tesla and Rivian were still up 2.7%, but Lucid shares were up only 0.12%. 

Tesla investors have been balancing a mix of positive and negative news in recent days. The company's long-term prospects continued to improve as it celebrated the opening of its fourth manufacturing plant in Texas last week. But new COVID-19 restrictions in China have had a short-term impact on production out of its Shanghai plant. 

Image source: Tesla.

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Source Fool.com