From NASDAQ.:

Electric vehicle stocks experienced a major drop in the week ending Jan. 19 due to market weakness and negative sector sentiment. Tesla’s stock fell, leading to concerns about margins before the company’s earnings release. Short interest in Tesla stock also declined, and Elon Musk expressed his desire for 25% voting control in the company. Rivian’s stock downgraded by Deutsche Bank and Canoo kicked off deliveries for its electric delivery vans. BYD unveiled its new smart car system, and Fisker is cooperating with the National Highway Traffic Safety Administration on reported braking issues with its 2023 Fisker Ocean model. The KraneShares Electric Vehicles and Future Mobility Index ETF fell 6.40% during the week and Tesla experienced a 3.06% decrease in stock value.

Tesla implemented price cuts this week, triggering concerns about future margins, and saw a decrease in short interest. Elon Musk expressed a desire for 25% voting control in Tesla. Rivian’s stock was downgraded by Deutsche Bank, Canoo began delivering electric delivery vans, and BYD unveiled a new smart car system to make its EVs more competitive. Fisker stated that it is cooperating with the National Highway Traffic Safety Administration regarding reported braking issues with the 2023 Fisker Ocean model, and the KraneShares Electric Vehicles and Future Mobility Index ETF lost 6.40% in value during the week.

Tesla’s price cuts stirred worries about margins before its earnings release, while the company saw a decline in short interest. Elon Musk sparked controversy by expressing a desire for 25% voting control in Tesla. Deutsche Bank downgraded Rivian’s stock and reduced its price target, and Canoo marked the start of deliveries for its LDV 130 electric delivery vans. BYD launched a new smart car system to enhance its EVs, and Fisker is cooperating with the NHTSA on braking issues with the 2023 Fisker Ocean model. The KraneShares Electric Vehicles and Future Mobility Index ETF lost 6.40% in value for the week.



Read more: Elon Musk Slammed For Wanting More Tesla Control, Rivian Skids On Prospect Of Significant Losses, Fisker Faces Braking Issue Probe And More: Biggest EV Stories Of The Week