EV stocks face a reckoning, not all will survive, Barron’s says

Electric vehicle stocks have stalled-and many won’t get started again, Al Root writes in this week’s edition of Barron’s. Things are bad for EV startups as they try to become the next Tesla (TSLA), with rising interest rates and falling stock prices that have essentially ended their ability to raise the cash they need to fund vehicle development, the author notes. And now, it looks as if many won’t be able to survive the looming shakeout. Arrival (ARVL) plunged 36% on Tuesday after reporting a larger-than-expected loss, Faraday Future Intelligent Electric (FFIE) warned about its ability to continue as a "going concern" in its financial filings, as did Canoo (GOEV), Root adds. Some, however, may have the cash they need due to generous outside benefactors, erm, investors. Lordstown Motors (RIDE) also has "going concern" language in its filings, but it was able to raise some new money this week. Lucid (LCID) seems to have a stronger relationship with its capital provider: the Saudi government, while Rivian (RIVN) ended the quarter with about $14B and has more cash than just about anyone, the publication says. Reference Link