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Why Tesla and Rivian Soared, but Nikola Plunged, in May

Why Tesla and Rivian Soared, but Nikola Plunged, in May

May was a good month for growth and technology stocks. In fact, Tesla (NASDAQ: TSLA) and Rivian Automotive (NASDAQ: RIVN) far outpaced the index itself, soaring by 24.1% and 14.9%, respectively, according to data from S&P Global Market Intelligence. Investors have some specific, and serious, concerns with Nikola (NASDAQ: NKLA) -- maker of electric semi-trucks.