Why EV and Renewable Energy Stocks Collapsed This Week

Tesla's layoffs and higher interest rates combined to make a rough week for EV and renewable stocks.The electric vehicle (EV) and renewable energy market took a nosedive this week and it seemed everyone was affected. Part of the drop was due to Tesla's (TSLA -1.87%) layoffs announced earlier this week, but part was because investors think the market is overvalued if interest rates are going to stay elevated for the foreseeable future.According to data provided by S&P Global Market Intelligence, Polestar Aut ...