Tesla jolts investors again with new low but some EV stocks are rallying
da-kuk

Tesla (NASDAQ:TSLA) is the leading decliner in the electric vehicle sector on Tuesday with a 13.15% slide. Shares of the EV market share leader also carved out yet another 52-week low of $106.56 in morning trading.
The disappointing Q4 deliveries report from Tesla (TSLA) has reset some analyst expectations on the level of deliveries for 2023 and appears to be impacting trading on a number of EV stocks. Of note, Lucid Group (LCID) fell 7.33% and Rivian Automotive (RIVN) shed 6.25% on the first trading day of the year.
However, a number of EV stocks trading under $1.00 per share moved higher on Monday. That list includes Arrival (ARVL) +12.85%, Mullen Automotive (MULN) +12.27%, AEye (LIDR) +10.55%, Ouster (OUST) +9.85%, Foresight Autonomous Holdings (FRSX) +9.64%, and Ayro (AYRO) +6.88%.
XPeng (XPEV) +2.54% was also higher after reporting 11.3K deliveries for December (-29% Y/Y, +94% M/M). Li Auto (LI) +1.88% was also in positive territory following its December deliveries tally of 21,233 (+51% Y/Y, +41% M/M). Nio (NIO) 0.31% was down slightly despite solid deliveries for the month (+51% Y/Y, +12% M/M). In general, analysts called the reports from China encouraging amid some concerns on wavering demand.
Investors looking for value plays in the auto sector have BMW (OTCPK:BMWYY), Ford Motor (F), Electrameccanica Vehicles (SOLO) and Stellantis N.V. (STLA) to consider with the group all earning A+ Seeking Alpha valuation grades. 
Read the latest breakdowns on Tesla from Seeking Alpha authors including the bullish articles.