Tesla Inc TSLA and Rivian Automotive Inc RIVN shares are trading lower amid a pullback in EV and clean energy stocks. A recent surge in oil prices recently raised demand outlook for alternative energy vehicles and Monday's dip in oil prices has possibly eased sector sentiment. President Joe Biden last week announced a ban on Russian oil, natural gas and coal imports which raised interest in clean energy names.
See Also: Here's Why Moderna Shares Are Rising On Monday
Tesla is trading lower by 3.37% at $769.00.
Rivian is trading lower by 6.07% at $35.74.
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