Why These EV Stocks Plunged Double Digits This Week

It was a slightly slower news week as the markets prepare for earnings season to hit in full force, but there were plenty of headlines to go around within the automotive sector. One piece of news that hit young electric vehicle (EV) automakers hard was the announcement by Hertz Global (HTZ -2.35%) that it will sell a chunk of its EV fleet and reinvest in gasoline-powered vehicles. In response, Lucid Group (LCID -7.51%) and Fisker (FSR -0.96%) dropped as much as 17% and 26% this week, respectively, according ...