Get all your news in one place.
100's of premium titles.
One app.
Start reading
Barchart
Barchart
Mohit Oberoi

4 Reasons Why Tesla and More EV Stocks Are Selling Off

Tesla Inc. Elon Musk GM Lucid Motors NIO XPENG Motors

The electric vehicle (EV) industry - which until recently looked like a promising investing theme as investors poured billions into startup companies, hoping to find the next multi-bagger - is now looking like a busted story. Many EV stocks, such as Arrival (ARVL), Vinfast (VFS), and Lucid Motors (LCID) are trading near all-time lows, while last week was the worst for Tesla (TSLA) stock so far in 2023.

To be sure, EV adoption is still growing, and the industry is expanding faster than the overall automotive market. However, it’s a different story when it comes to EV stocks, and investors have grown increasingly wary of these names – including Tesla, whose mercurial CEO Elon Musk believes it could one day become the most valuable company on the planet. 

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Country Singer Ella Langley Faces Social Media Backlash as Old Alabama Hunting Photos Resurface
Country singer Ella Langley is facing online criticism after photographs showing her with hunted animals resurfaced, although there is no indication the controversy has affected her music or touring plans.
International Business Times UK
International Business Times UK
Travis Barker reveals reason for hospital visit
Travis Barker shared photos from hospital, where his wife, Kourtney Kardashian, and daughter, Alabama Barker, were by his side, on Tuesday (06.10.26).
BANG Premier
BANG Premier
George Clooney ‘planning to open Italian restaurant in France’
The Oscar-winning actor is said to be preparing to open the eaterie near the Provençal estate where his family have established their home in France.
BANG Premier
BANG Premier
“Is Picking Your Nose Actually Bad For You? Human Anatomy Reveals A Surprisingly Nuanced Answer
Picking your nose might help you breathe more easily, but an anatomy video shows why scratching one particular area may be more dangerous than it appears.
Bored Panda
Bored Panda
Cigarette Smoke Reprogrammed Lung Stem Cells in Lab Models and Helped Steer Which Lung Cancer Type Formed
A Johns Hopkins lab study found that cigarette smoke primed lung stem cells for specific cancer types. What it shows and what it does not prove.
Medical Daily
Medical Daily
That Cute Squishy Toy Contains Water Beads — CPSC Says Stop Using It
A colorful squishy toy that looks like an innocent stress reliever may hide something parents cannot see: expandable water beads. About 37,000 Squishy Dumpling and Crazy Squib Ball toys were recalled on October 1 after regulators determined that their water beads could expand beyond federal limits and create a potentially…
Kids Ain't Cheap
Kids Ain't Cheap
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play