Tesla, Lordstown, EV stocks slump on Friday
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Problems in his personal life are likely Tesla (NASDAQ:TSLA
-8.8%) Techno King Elon Musk's chief concern at present, but his business interests are not faring well either. 
A spate of bad news has hit the Texas-based electric vehicle stalwart, including its recent exclusion from the S&P 500's ESG Index, a fall from the top spot in Cathie Woodâs ARK Innovation ETF (ARKK), as well as supply chain problems and slumping sales in China. That is not to mention the CEOs trouble with the terms of his proposed takeover of Twitter (TWTR) and a incendiary allegations about sexual misconduct. 
Taken in totality, the cacophony of bad news has caused shares to slide precipitously in recent days, bookended by an over 8% drop on Friday. With the stock having lost more than $500 billion in value since its peak and has fallen nearly 50% year-to-date, analysts have also reset expectations amidst the evermore unsteady footing for Tesla (TSLA).
âWe have to reflect a new reality for Tesla in China with headwinds abound in a shakier macro backdrop,â Wedbush analyst Dan Ives wrote on Thursday. âFinally, the Twitter circus show has been a black eye for Musk and Tesla's stock in our opinion and has turned into a life of its own which has cast a dark shadow on the name and caused many investors to exit stage left while this soap opera continues."
While Ives remains bullish in the long term, he trimmed his price target by $400 as risks continue to escalate.
The gravitational pull of problems at Tesla (TSLA
-8.8%) and lingering concerns on supply chains and material costs that impact the entire industry are promoting a down day for nearly all manufacturers, few of whom have enjoyed much upward action of late.
Lordstown Motors (NASDAQ:RIDE
-10.9%) led declines on the day as its own existential threats in terms of capital position only exacerbated broader industry issues. In the current environment, capital raises for money-losing businesses are not a welcome sign.
Other auto stocks slipping on Friday include: Rivian Automotive (RIVN
-6.1%), Canoo Inc. (GOEV
-9.5%), Workhorse Group (WKHS
-8.7%), Sono Group (SEV
-7.0%), Nikola Corporation (NKLA
-5.3%), Lucid Group (LCID
-8.1%), Cenntro Electric Group (CENN
-5.9%), Fisker Inc. (FSR
-5.7%), Nio Inc. (NIO
-4.1%), Xpeng (XPEV
-3.7%), Li Auto (LI
-1.9%), Faraday Future Intelligent Electric (FFIE
-1.9%), Ford (F
-4.8%), General Motors (GM
-3.8%), and Stellantis (STLA
-1.0%).
Read more on the allegations against Elon Musk and his response to recent reports.