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Electric Vehicle (EV) Stocks: Why RIVN, TSLA, NIO, LI and XPEV Are Backing Up Today

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·2 min read
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Electric vehicle (EV) stocks are falling on Friday and we’re diving into the news behind those moves.

A hand holds an electric vehicle battery charger up to a car representing EV stocks.
A hand holds an electric vehicle battery charger up to a car representing EV stocks.

Source: Shutterstock

There’s actually not a lot of specific news for why these stocks are falling today. Instead, it looks like this is a continuing trend of EV stocks slipping over the last few weeks. That seems to be the result of traders leaving tech stocks amid rising interest rates.

Keeping that in mind, let’s take a look at how some of the top EV stocks are performing today below!

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

EV Stocks on the Move

  • Rivian Automotive (NASDAQ:RIVN) stock starts our list with shares up some 3% as of Friday morning. However, the shares experienced a sharp drop earlier this morning. Around 9 million shares have traded as of this writing, as compared to its daily average trading volume of 24.8 million shares.

  • Tesla (NASDAQ:TSLA) shares are slipping nearly 2% as of this morning. With that comes some 15 million shares traded. For the record, the company’s daily average trading volume is closer to 28 million shares.

  • Nio (NYSE:NIO) stock is down next with shares falling over 3% as of this writing. Alongside that is more than 28 million shares on the move, as compared to its daily average trading volume of 47 million shares.

  • Li Auto (NASDAQ:LI) shares are taking a more than 1% hit in Friday morning trading. The company has traded some 2 million shares as of this writing. Its daily average trading volume is closer to 9 million shares.

  • Xpeng (NYSE:XPEV) stock is down over 2% Friday morning. Its seen some 4 million shares trade as of this writing, as compared to its daily average trading volume of 12 million shares.

Investors looking for more stock market news will want to stick around!

We’ve got all the most recent stock coverage for traders to dive into today! That includes Blue Star Foods Corp (NASDAQ:BSFC) stock running higher, Bitcoin (CCC:BTC-USD) mining stocks falling, as well as Netflix (NASDAQ:NFLX) stock dropping. You can get all of these details from the links below!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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