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Why ChargePoint and Other EV Stocks Plunged Today

Why ChargePoint and Other EV Stocks Plunged Today

Markets are in "risk-off" mode again today with shares of companies in more speculative sectors like electric vehicles (EVs) taking some of the hardest hits. Shares of EV charging network company ChargePoint Holdings (NYSE: CHPT), for example, were down 5.2% as of 12:05 p.m. ET. The stocks of vehicle manufacturers Lordstown Motors (NASDAQ: RIDE) and Arrival (NASDAQ: ARVL) were lower by 7.2% and 6.8%, respectively.