New York, Feb 8, 2026, 13:18 EST — The session wrapped; trading is done for the day.
- Lucid jumped 13.9% Friday, boosted after UBS revealed it picked up more shares in the fourth quarter.
- Rivian picked up 7.8%. Tesla notched a 3.5% advance, as traders circled back to tech-adjacent stocks looking for risk.
- Stellantis dialed back on its EV plans in Europe while a battery joint venture reversed course on its factory—both moves stoked fresh demand concerns.
Lucid Group (LCID) surged 13.9% to finish at $10.86 Friday, pacing gains among U.S.-listed EV names. Rivian (RIVN) tacked on 7.8%, ending at $14.80. Tesla (TSLA) advanced 3.5% to settle at $411.11.
EV stocks have been acting like high-beta tech lately—dropping fast when risk comes off the table, snapping higher as soon as growth gets hot again. On Friday, Wall Street’s major indexes clawed back some ground after tech shares took a beating, with bitcoin’s surge adding fuel to the rebound in risk appetite. “The market looks like it was getting a bit overdone to the downside,” said Robert Pavlik, senior portfolio manager at Dakota Wealth. Reuters
The rebound hit resistance after Europe weighed in. Stellantis took a 22.2 billion euro ($26.5 billion) charge linked to its EV overhaul, hammering its Milan-listed stock down by as much as 30% and highlighting just how quickly legacy automakers are scrambling to adjust to weaker EV demand. CEO Antonio Filosa admitted that previous expectations were “over optimistic.” Russ Mould at AJ Bell pointed to the writedown as clear evidence the company “got it wrong” on how rapidly drivers would leave combustion engines behind. Reuters
Lucid shares caught a bid on a UBS move: the bank revealed in an SEC filing it picked up 3.81 million Lucid shares during the fourth quarter of 2025, bringing its total to 7.68 million shares valued around $73 million, according to the report. The stock’s been jumpy since last August’s 1-for-10 reverse split—a maneuver that boosted the per-share price by grouping shares. Interim CEO Marc Winterhoff described the split as aimed at “attract institutional investors and reduce volatility rather than avoid delisting.” TradingView
The European battery supply chain flashed another warning sign this weekend. Stellantis-, Mercedes-Benz-, and TotalEnergies-backed Automotive Cells Company (ACC) told unions it was scrapping its gigafactory plans for Italy and Germany, according to Italy’s UILM metalworkers’ union. Both projects had already been on hold since May 2024. Later, ACC said the “prerequisites” for restarting were unlikely to come together and that it’s now considering “different scenarios.” Reuters
Tesla shares snapped higher late in the week, tracking the broader market’s upswing rather than anything Tesla-specific. Despite the rally, the stock finished the turbulent week down, with analysts noting the absence of any new company developments driving the move.
Rivian surged as the risk-on mood took hold, but whether the rally lasts will hinge on what’s revealed about demand and cash burn. The company is set to break down its fourth-quarter numbers on Feb. 12—an event likely to shape how EV names trade in the week’s opening stretch.
The risk here is obvious. A shift in market mood to risk-off would spell trouble for EV startups, exposing them on two fronts: investor sentiment could sour, while old worries about funding costs, pricing strains, and whether demand actually keeps pace with ambitious spending plans would surface again.
Lucid plans a Feb. 24 call to break down its fourth-quarter numbers, so investors looking for the next update on orders, production, and outlook won’t have to wait long.
