6 Stocks That Moved the Market in March | Smart Change: Personal Finance | tucson.com – Arizona Daily Star

March was another wild month in the stock market. The Russia-Ukraine war, changing monetary policy, rising inflation, and inflated energy prices all attracted major attention and rippled through the stock market on the back of the final month of earnings season. These factors created a volatile environment as we wrapped up the fourth-quarter earnings season. Stocks that delivered bad news took especially bad beatings as investor risk tolerance dwindled. Other stocks soared higher as investors sifted through the market looking for safety and opportunity.

Here are six stocks that were all big movers, impacted the market as a whole, and illustrated some of the major market trends in March.

Image source: Getty Images.

1. Rivian

Share prices of electric vehicle (EV) maker Rivian (NASDAQ: RIVN) dropped 25.6% in March. The stock was hit especially hard during the first half of the month as growth stocks dropped across the board. The company’s March 10 earnings announcement didn’t help matters either.

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Rivian is struggling mightily with supply chain issues and input price inflation. These are global issues impacting every industry, but EV manufacturers are also dealing with supply shocks in the market for raw materials such as nickel, which are important for EV batteries.

As a result, Rivian announced a substantial increase in pricing for its trucks, which it partially walked back after negative customer reactions (those who already put down a deposit based on the old price were exempted from the new pricing). That whole ordeal raised major concerns for investors. It seems that Rivian is forced to choose between hurting margins or threatening demand in a competitive market. The stock for this disruptor is still trading at a price-to-sales ratio of nearly 200 even after the stock price drop, so investors need to be comfortable with major volatility as the company attempts to establish its niche in the EV market.

2. Tesla

The story was a bit different for EV powerhouse Tesla (NASDAQ: TSLA), which climbed 24% last month. Investors seem to have responded favorably to news regarding Tesla’s battery supply, the launch of a factory in Berlin, and a not-yet-official stock split that should make the stock easier to trade.

There was no major news suggesting that the company’s fundamentals changed drastically, but this a volatile market. Growth investors are looking for any bit of good news, and Tesla appears to be doing a good job navigating supply chain challenges. It may have also benefited from investors …….

Source: https://tucson.com/business/investment/personal-finance/6-stocks-that-moved-the-market-in-march/article_d02bd0cc-aa91-5dea-b5e1-4c033cbe5dc8.html

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