Shares of electric-vehicle makers Tesla Inc. and Rivian Automotive Inc. dropped more than 5% in midday trading Thursday, underperforming the broader market. Tesla, which has lost billions in market value in recent sessions and blown past lows, traded as low as $107.16. Another EV maker’s shares, Lucid’s , dropped more than 4%. In contrast, the S&P 500 index was down 1%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.