2023-07-21 13:00:19 ET
Easy come, easy go.
Following three days of steadily rising stock prices reinforced by a positive analyst report Wednesday , shares of EV truck-maker Rivian Automotive (NASDAQ: RIVN) shifted back into reverse on Friday morning -- down by 3.3% as of noon ET. Fellow electric truck-making start-ups Canoo (NASDAQ: GOEV) and Workhorse Group (NASDAQ: WKHS) weren't faring any better, down 3.6% and 6.3%, respectively.
Why is all this happening? I blame Tesla (NASDAQ: TSLA) -- and its Cybertruck.
For further details see:
Why Rivian, Workhorse, and Canoo Stocks Are Slumping