RIVN - Why Rivian Polestar and Lucid Stocks All Dropped Today
2024-05-23 13:07:11 ET
Electric car stocks took a tumble in noon (ET) trading Thursday, with Lucid Group (NASDAQ: LCID) falling 3.8%, Rivian Automotive (NASDAQ: RIVN) sliding 4.6%, and Polestar (NASDAQ: PSNY) doing worst of all -- down 7.4%, and trading at penny stock levels -- just $0.87 a share.
Another EV company entirely, though -- Tesla (NASDAQ: TSLA) -- may be the reason for EV investor dismay.
Every year, Tesla publishes an annual "impact report" describing its environmental, social, and governance, or ESG goals . Today's controversy concerns the first letter in the acronym -- the E. For the past couple of years, Tesla's 150-plus-page ESG report has stated that Tesla intends to produce 20 million electric cars by 2030.
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Why Rivian, Polestar, and Lucid Stocks All Dropped Today