Why EV Stocks Tesla, Rivian, and Lucid All Fell Today

Tesla's weak delivery report sent the sector sliding.Electric vehicle (EV) stocks fell today after Tesla (TSLA -4.90%) and Rivian (RIVN -5.23%) both reported disappointing first-quarter delivery numbers.It was the latest sign that demand for EVs continues to fade and that the sector's stocks look broadly overvalued. Tesla is seen as a bellwether in the EV market as well, and other EV stocks tend to respond to Tesla-specific news.Tesla and Rivian closed down around 5%; Lucid (LCID -3.50%) dropped 3.5%. EV st ...