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Tesla AI Job Cuts, Nio Stung By Short Report, Ford’s F-150 Lightning Recall, Faraday Future The New Meme Stock In Town: Week’s Top News From EV Industry

Electric vehicle stocks declined in the week ending July 1, taking cues from the retreat in the broader market. The S&P 500 Index fell in the first four sessions of the week amid economic worries, before coming back up in the final trading session, and yet ended the week lower. Company-specific news also hurt sentiment toward some stocks.