RIDE - Electric vehicle stocks are sliding with Shanghai COVID outbreak threatening the supply chain

The electric vehicle sector fell sharply on Wednesday after spiking COVID cases in Shanghai raised broad concerns that the industry-wide supply chain disruption could extend even longer than anticipated. Chinese authorities extended a lockdown in Shanghai to cover all 26 million residents in a development that is seen as a test of how far the zero-tolerance COVID policy can go in the nation. Notably, Tesla (TSLA -4.4%) has told some suppliers and workers that the Shanghai factory will remain in lockdown until at least April 8 due to soaring COVID cases in the region, which would mark 12 full days of lost production for the EV leader. Also in the mix is a negative report on Mullen Automotive (MULN -3.7%) from Hindenburg Research in which the short-selling firm called it among the worst EV hustles that it has seen in a crowded field of contenders. The negative tone took away

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Electric vehicle stocks are sliding with Shanghai COVID outbreak threatening the supply chain