HYZN - Why Nikola Lordstown and Hyzon Stocks Were Volatile Today
2023-04-04 15:18:45 ET
Shares of electric vehicle (EV) makers Nikola Corporation (NASDAQ: NKLA) and Lordstown Motors (NASDAQ: RIDE) , as well as fuel cell electric vehicle company Hyzon Motors (NASDAQ: HYZN) , fell earlier in the day today, likely as investors processed the latest news from General Motors and Tesla .
Yesterday, Tesla reported solid first-quarter deliveries, but they came as the company cut its vehicle prices. Then today, GM announced that thousands of its salaried workers accepted the company's buyout offers. Those two bits of negative automotive industry news weighed on Nikola, Lordstown, and Hyzon.
But Hyzon's stock later rebounded, likely on news of the company receiving an extension from the Nasdaq Stock Market that will allow its shares to continue to be listed on the exchange. Nikola was down by 5.8%, Lordstown dropped 4.9%, and Hyzon -- which was down by 1% earlier in the day -- had gained 1.9% as of 2:42 p.m. ET.
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Why Nikola, Lordstown, and Hyzon Stocks Were Volatile Today