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Shares of electric vehicle companies Canoo (NASDAQ: GOEV), Nikola (NASDAQ: NKLA), and Lordstown Motors (NASDAQ: RIDE) were tumbling today after an analyst made comments yesterday indicating that price drops for EVs could be the new normal. EV stock investors may also be on edge as the Federal Reserve meets today to decide on how it will proceed with interest rate increases to fight inflation. As a result of all of this news, Canoo's shares were down 6.1%, Nikola had fallen 3.7%, and Lordstown's stock dropped 5.3% as of 11:32 a.m. ET.
While Lordstown (RIDE) Q4 adjusted loss widens from the year-ago period, Rivian (RIVN) plans to raise $1.3 billion through green bonds sale.
LORDSTOWN, Ohio, March 08, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (Nasdaq: RIDE), an original equipment manufacturer of electric light duty vehicles focused on the commercial fleet market, will be in Booth #6009 at the March 7-10 Work Truck Week in Indianapolis. The EV innovator is bringing the Lordstown Endurance™ full size all-electric pickup onsite at the Work Truck Week show at the Indiana Convention Center. The Lordstown Endurance™ began commercial production at the Foxconn EV Ohio