Electric vehicle stocks closed the week ending April 14 mostly lower, as a result of company-specific tidings and broader market weakness caused by soft financial data. Market leader Tesla, Inc.
Most electric vehicle stocks rose in the week ending March 31, with the broader market strength primarily responsible for the upside. On the other hand, company-specific catalysts weighed down on some stocks, leading them to buck the uptrend.
The market mood appears to be cautiously optimistic, as signaled by the index futures, which pointed to a narrowly mixed start on Friday. Former President Donald Trump has been indicated by the Manhattan grand jury throwing in some uncertainty into the market.
Shares of struggling electric vehicle maker Canoo, Inc. (NASDAQ: GOEV) slid in after-hours trading on Thursday following the release of the company’s quarterly results.