ARVL - Electric vehicle stocks drop as global chip shortage persists

Electric vehicle stocks are ending the week on a down note as some of the optimism over the Green Tidal Wave recedes and the ongoing global chip shortage weighs on sentiment. Decliners on the day include Lordstown Motors ([[RIDE]] -5.4%), Canoo ([[GOEV]] -6.1%), Fisker ([[FSR]] -4.5%), Electrameccanica Vehicles ([[SOLO]] -3.9%), Kandi Technologies ([[KNDI]] -3.7%), Workhorse Group ([[WKHS]] -3.3%), XL Fleet ([[XL]] -7.5%), Romeo Power ([[RMO]] -7.4%), QuantumScape ([[QS]] -5.0%), Hyliion Holdings ([[HYLN]] -4.9%), Blink Charging ([[BLNK]] -4.8%), ChargePoint Holdings ([[CHPT]] -1.9%), Arrival ([[ARVL]] -2.7%) and XPeng ([[XPEV]] -2.4%). Tesla ([[TSLA]] -1.2%) isn't down as much as some its EV peer after its delivery numbers out of China appeared to be strong. "For March, Tesla delivered 35.5k vehicles during the month which were roughly doubling from the month of February and appear to be on a strong trajectory into the rest of 2021 in our opinion. Considering the Lunar New Year

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Electric vehicle stocks drop as global chip shortage persists