Why EV Stocks Are Skyrocketing Amid Dropping Sales

October 13, 2021 11:55 AM EDT

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For the past year or so, the world has been gripped by a shortage of semiconductor chips. Extremely crucial components in a wide variety of industries, these chips are needed for everything from smartphones and laptops to washing machines and cars. As such, several industries have been disrupted by the chip shortage, resulting in halted production and reduced sales as manufacturers wait for the global supply of chips to bounce back. The electric vehicle (“EV”) industry, which was just starting to pick up steam when the coronavirus pandemic exacerbated the shortage, has not been spared.

But curiously, despite reduced vehicle sales, EV stocks have been on the rise. Most industries would see their stock prices drop if sales were disrupted for entire months, but the nascent electric vehicle sector has reacted differently, with stock prices skyrocketing amid reduced sales. Why are EV stock prices on the rise even though&


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