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Technology Stocks : Driverless autos, trucks, taxis etc.
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From: Sam1/21/2022 11:02:07 AM
   of 567
 
Electric vehicle stocks are getting caught up in the great value reset of 2022
Jan. 21, 2022 10:19 AM ET

  • Electric vehicle stocks are sharply lower as investors continue to shift away from high-multiple stocks in the tech and auto sectors toward value stocks. Concerns over the cost and supply of semiconductors are also in the mix today.
  • Notable decliners include Arrival ( ARVL -10.0%), TuSimple ( TSP -7.3%), Nikola ( NKLA -8.2%), Cenntro Electric Group ( CENN -12.0%), Luminar Technologies ( LAZR -7.3%), Sono Group ( SEV -9.4%), QuantumScape ( QS -8.1%), Blink Charging ( BLNK -6.7%) and ChargePoint Holdings ( CHPT -6.2%).
  • Chinese automaker names Nio ( NIO -5.8%), Li Auto ( LI -4.0%) and XPeng ( XPEV -5.4%) are also lower amid broad selling of U.S.-listed Chinese stocks. Detroit auto giants Ford ( F -4.6%) and General Motors ( GM -2.9%) are also in reverse as they lose some of their recent EV premiums.
  • Meanwhile, Tesla ( TSLA -4.1%) is in the middle of the pack with investors starting to look forward to the earnings report on January 26.
  • Which auto stock has held up amid the selloff? Tata Motors ( TTM -4.3%) has the mildest decline over the last week and Stellantis ( STLA -1.0%) is still up double-digits over the last six weeks. Compare returns across the auto industry.

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