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The stock has declined 39.1% in price over the past month to close yesterday’s trading session at $8.93. Also, it is currently trading 76% below its all-time high of $37.18, which it hit on December 7, 2020.
Moreover, the entire electric vehicle industry is facing severe semiconductor chip and labor shortages, which could hamper the company’s already delayed production plans. And rising competition in the EV space along with ARVL’s weak financials so far make its near-term prospects bleak.
