ARVL - Nikola and Canoo lead down day for EV startup stocks

It is another down day for a large segment of the electric vehicle sector as analysts and investors reel back expectations on deliveries and profitability for many startups. Notable decliners include Canoo ([[GOEV]] -8.2%), Arrival ([[ARVL]] -7.3%), GreenPower Motors ([[GP]] -6.1%), Lordtown Motors ([[RIDE]] -3.7%), Lucid Motors-Churchill Capital Corp IV ([[CCIV]] -5.0%) and Nikola ([[NKLA]] -6.5%). An outlier from the EV startup group is Fisker ([[FSR]] +3.0%), which is rallying after Bank of America launched coverage with a Buy rating. The firm's overall breakdown of the sector weighs huge opportunity vs. significant execution risk. "It is without question that the advent of electric vehicles has arrived, and the segment and participants broadly remain in a very nascent stage. While the reality for EVs likely remains a slow penetration curve globally over the next decade as cost dynamics are tough; on an absolute basis, this translates into significant absolute volume growth

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Nikola and Canoo lead down day for EV startup stocks