Why Rivian, Wolfspeed, and Navitas Semiconductor Plunged Today

Shares of electric vehicle company Rivian (RIVN -5.02%) and EV-related power chipmakers Wolfspeed (WOLF -15.47%) and Navitas Semiconductor (NVTS -11.12%) were down on Wednesday, falling 5.7%, 15.2%, and 13%, respectively, as of 12:25 p.m. ET.Rivian is an upstart electric vehicle challenger, while Wolfspeed is an emerging player in silicon carbide (SiC) wafer production and SiC-based chips used predominantly in EVs. Meanwhile, Navitas is a small-cap chip designer of both SiC and gallium nitride power chips f ...