ARVL - Hot Stocks: EV stocks fall; SQM election woes; BRG VRS jump on M&A deals; RKT drops on acquisition

Despite a recovery late in the day, Wall Street suffered notable losses on Monday amid mounting Omicron concerns and the likelihood that government stimulus would start drying up in near future. The electric vehicle sector represented a prime example of this second concern. The group suffered a sell-off after an EV-friendly spending bill ran into stiff opposition in the Senate. Workhorse Group (NASDAQ:WKHS), Lordstown Motors (NASDAQ:RIDE) and Arrival (NASDAQ:ARVL) all dropped sharply, while Tesla (NASDAQ:TSLA) retreated to a two-month low. The U.S. wasn't the only source of government-inspired angst on Monday. An election in Chile led to selling pressure amid stocks from that country, led by a double-digit percentage slide in Sociedad Quimica y Minera de Chile (NYSE:SQM). M&A activity provided another major theme during the session. Bluerock Residential (NYSE:BRG) and Verso (NYSE:VRS) both skyrocketed on separate deals to be acquired. Meanwhile, Rocket Companies (NYSE:RKT) slipped to a new low

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Hot Stocks: EV stocks fall; SQM election woes; BRG, VRS jump on M&A deals; RKT drops on acquisition