Why Tesla, Rivian, and QuantumScape Fell on Friday
Despite already being down for the week, shares of Tesla (NASDAQ: TSLA), Rivian (NASDAQ: RIVN), and next-generation battery maker QuantumScape (NYSE: QS) all fell again on Friday, down 4.2%, 5.4%, and 4.6%, respectively, as of 2:24 p.m. EST.
While each stock had its own negative news this week, there wasn't anything especially newsworthy about any of them on Friday. Nevertheless, fears over the Federal Reserve's latest interest rate hikes and the pressure that may put on consumer purchasing power next year sent shares of these growth stocks downward yet again.
In addition, Elon Musk's recent Tesla share sales may be increasing pessimism over the whole sector, as no one knows if he is done selling yet.
Source Fool.com
