GOEV - Workhorse and Tesla lead EV sector to down day

A disappointing update from Workhorse Group ([[WKHS]] -13.5%) on its production timeline seems to have led to some jittery trading on other EV startup names. Concerns over the amount of EV support that ends up in the infrastructure bill is also weighing on investors, as well as some anxiety over the global chip shortage and Beijing's stance on Tesla ([[TSLA]] -4.3%) and other foreign competitors. Decliners include Fisker ([[FSR]] -9.4%), Romeo Power ([[RMO]] -5.8%), QuantumScape ([[QS]] -5.4%), Lordstown Motors ([[RIDE]] -4.7%), Electrameccanica Vehicles ([[SOLO]] -5.8%), Hyliion Holdings ([[HYLN]] -4.4%), Blink Charging ([[BLNK]] -4.9%), Li Auto ([[LI]] -4.4%) and Canoo ([[GOEV]] -4.7%). Earlier today, Wedbush Securities forecast a strong Q2 for Tesla and pointed to strong demand trends in Europe and China.

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Workhorse and Tesla lead EV sector to down day