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EV stocks slump on demand worries after Ford cuts prices on electric pickup truck

Investing.com -- Electric vehicle stocks fell sharply Thursday as Ford (NYSE:F) slashed the prices on various models of its F-150 Lightning electric pickup truck, stoking fresh worries about waning demand and margin pressures for EV makers. 

Ford cut the price of various F-150 models including the XLT, Lariat, and Flash, with the latter's price cut by as much as $5,500.

With the exception of Tesla (NASDAQ:TSLA), the price cut sparked a wave of selling pressure across EV stocks, with Nio Inc Class A ADR (NYSE:NIO), Nikola Corp (NASDAQ:NKLA), Li Auto Inc (NASDAQ:LI), Rivian Automotive Inc (NASDAQ:RIVN), Lucid Group Inc (NASDAQ:LCID) trading lower.     

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.