A rising interest rate environment is a kind of double whammy for speculative, unprofitable stocks. First, raising capital will be that much more expensive down the road. Each of these names will likely need further injections in the not-too-distant future.
The other associated headwind could be the overall global economy. Rate hikes are being implemented to try to stem inflation and slow down growth, at a time when these EV companies are in the midst of trying to ramp up production and sales.$Rivian Automotive, Inc.(RIVN)$
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