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RIDE - Lordstown Motors News Story

$10.02 0.2  2.3%

Last Trade - 16/04/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £1.28bn
Enterprise Value £824.7m
Revenue £n/a
Position in Universe 2330th / 6850

BUZZ-U.S. high-flyers fall back to earth amid broader selloff

Tue 23rd February, 2021 5:47pm
** Shares of solar power companies, electric vehicle makers,
cannabis producers, and tech cos that have seen a steep rise in
the last few weeks on post-pandemic growth expectations and
retail-trader enthusiasm tumble along with major U.S. indices
    ** The Nasdaq  .IXIC  falls to its lowest in nearly a month
as investors question steep company valuations  .N  
    ** EV stocks decline, most notably Tesla  TSLA.O  which is
down ~6% on the day and posting YTD losses of over 4% after a
plunge in bitcoin  BTC=  urn:newsml:reuters.com:*:nL8N2KT2XN
    ** Other EV makers Fisker Inc,  FSR.N , Lordstown Motors
 RIDE.O  and U.S.-listed shares of Nio  NIO.N  dip between 5%
and 8%; Hydrogen fuel cell maker  PLUG.O  loses over 8%
    ** Electric vehicle ETFs  DRIV.O  and  IDRV.N , both with
large holdings in Tesla, dip over 3%.
    ** Solar energy stocks tumble: NextEra Energy,  NEE.N  loses
 ~2%, Enphase Energy,  ENPH.O  First Solar,  FSLR.O  Sunrun,
 RUN.O  and JinkoSolar  JKS.N  fall between 1.5% and 7.2%,
Invesco Solar ETF  TAN.N  loses ~2.6%
    ** U.S.-listed cannabis companies, which have rallied in the
past few weeks on retail trader hype and hopes of
decriminalization under Joe Biden's administration, fall
    ** Sundial Growers  SNDL.O , Tilray  TLRY.O , Aphria
 APHA.O  lose between 10%-12% despite all three being on track
to more than double this year; Pot stocks ETF  MJ.N  dips 5%
    ** Shares of big tech cos Alphabet Inc  GOOGL.O , Microsoft
 MSFT.O , Amazon.com  AMZN.O  and Apple  AAPL.O  down between
0.8% and 3% 

 (Reporting by Lisa Mattackal in Bengaluru)
 ((LisaPauline.Mattackal@thomsonreuters.com; +919945309224;
Reuters Messaging: lisapauline.mattackal@thomsonreuters.com
@reuters.net))
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