EV maker stocks rise in face of Lordstown bankruptcy

The bankruptcy of electric vehicle maker Lordstown Motors Corp. (RIDE) doesn't appear to be scaring investors away from the stocks of other EV startups. Shares of Rivian Automotive Inc. (RIVN) tacked on 0.8% in premarket trading Tuesday, Lucid Group Inc. (LCID) climbed 5.1%, Nikola Corp. (NKLA) gained 2.7% and Fisker Inc. (FSR) advanced 1.0%., even as Lordstown shares plunged 61.3%. Though not a start up, EV giant Tesla Inc.'s stock (TSLA) bounced 0.7%, after it slumped 6.1% on Monday to start an official "correction." Meanwhile, China-based EV makers also saw their shares rise, with Nio Inc.'s stock (NIO) up 2.9% ahead of Tuesday's open and XPeng Inc.'s stock (XPEV) up 1.3%. In comparison, futures for the S&P 500 inched up 0.1%.

-Tomi Kilgore

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06-27-23 0810ET

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