XPEV - Canoo and Arrival lead down day for electric vehicle stocks

3alexd/E+ via Getty Images The bouncy trading continues in the electric vehicle sector with the flood of developments from Lordstown Motors and Nikola impacting how investors view other startups. Another big factor is the surprising speed at which auto heavyweights like General Motors ([[GM]] +0.7%), Volkswagen ([[VLKAF]]) and Ford ([[F]] +1.8%) are flipping the switch to an electric-heavy portfolio, which could add competitive risk for the new players. Analysts have been more vocal in the last few weeks in saying that not all the new EV entrants are likely to survive. Decliners on the day include Ayro ([[AYRO]] -7.8%), XPeng ([[XPEV]] -4.2%), Electrameccanica Vehicles ([[SOLO]] -5.1%), Canoo ([[GOEV]] -4.7%) and Arrival ([[ARVL]] -3.8%). Meanwhile, Tesla ([[TSLA]] -0.5%) is faring a little better, but is feeling some Bitcoin gravity. The EV sector is on Seeking Alpha's Catalyst Watch this week with Lordstown execs showing off the company's new factory.

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Canoo and Arrival lead down day for electric vehicle stocks