EV stocks dipped in morning trading.Arrival,Rivian,Lucid,Fisker,Nio,Xpeng Motors and Li Auto fell between 1% and 17%.
Arrival announced today the commencement of an underwritten public offering of 25,000,000 ordinary shares (the “Follow-on Offering”) pursuant to a registration statement on Form F-1 filed with SEC. In connection with the Follow-on Offering, Arrival intends to grant the underwriters the option to purchase up to 3,750,000 additional ordinary shares. All shares are being offered by Arrival.
Rivian stock has more than doubled in the past week, since the electric truck maker’s smash-hit initial public offering.Now may be a good time for investors to put on their seatbelts—because the road is undoubtedly going to get bumpy.
Morgan Stanley is skeptical of red-hot Lucid, says EV stock could fall 70%.