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Almost Every EV Stock is Down After Q1 2024



See this visualization first on the Voronoi app.

Chart showing the performance of EV stocks in Q1 2024

Almost Every EV Stock is Down After Q1 2024

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

While the S&P 500 index climbed over 10% in Q1 2024, the majority of EV stocks declined by double digit percentages over the period.

This is surprising, given that EVs were once the hottest trend in tech (before artificial intelligence came around).

In this graphic, we’ve visualized the Q1 2024 performance of 10 prominent pure play EV companies. Pure play in this context means companies that only focus on electric vehicles.

EV Stock Performance

The data we used to create this graphic can be found in the table below. Note the two biggest outliers: Nikola (+24.9%) and Fisker (-98.7%).

CompanyQ1 Price Change (%)
Li Auto-12.5

The majority of EV stocks have fallen due to slowing demand in major markets like the U.S. and China. This is a serious problem for startups like Rivian and Lucid, which are not yet profitable.

In fact, legacy automakers like Ford are looking to expand production of hybrid vehicles, which is likely causing many investors to avoid pure EV stocks.

Two Outliers Emerge

Nikola shares have rallied in recent weeks as the company reported positive momentum in its hydrogen fuel cell truck business. The company also opened its first hydrogen refueling station in Southern California, and has five more in the works.

On the flipside, Fisker Inc. has struggled enormously, even being delisted from the NYSE in late March 2024. Fisker Inc. is the successor to Fisker Automotive, which went bankrupt in 2013. Fisker Automotive was known for producing the Karma, a luxury EV sedan that competed with the Tesla Model S.

Back to today’s Fisker, the company is once again in hot water. Over 40,000 customers have cancelled reservations for the company’s “Ocean” electric SUV, which is currently under investigation for door malfunctions.

Other Major EV Developments

In other news, Tesla is once again the world’s best-selling EV company, after outselling China’s BYD by 87,000 units in Q1 2024.

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The Top 25 Nationalities of U.S. Immigrants

Mexico is the largest source of immigrants to the U.S., with almost 11 million immigrants.



Bar chart showing the top 25 nationalities of US Immigrants.

The Top 25 Nationalities of U.S. Immigrants

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The United States is home to more than 46 million immigrants, constituting approximately 14% of its total population.

This graphic displays the top 25 countries of origin for U.S. immigrants, based on 2022 estimates. The data is sourced from the Migration Policy Institute (MPI), which analyzed information from the U.S. Census Bureau’s 2022 American Community Survey.

In this context, “immigrants” refer to individuals residing in the United States who were not U.S. citizens at birth.

Mexico Emerges as a Leading Source of Immigration

Mexico stands out as the largest contributor to U.S. immigration due to its geographical proximity and historical ties.

Various economic factors, including wage disparities and employment opportunities, motivate many Mexicans to seek better prospects north of the border.

CountryRegion# of Immigrants
🇲🇽 MexicoLatin America
& Caribbean
🇮🇳 IndiaAsia2,839,618
🇨🇳 ChinaAsia2,217,894
🇵🇭 PhilippinesAsia1,982,333
🇸🇻 El SalvadorLatin America
& Caribbean
🇻🇳 VietnamAsia1,331,192
🇨🇺 CubaLatin America
& Caribbean
🇩🇴 Dominican RepublicLatin America
& Caribbean
🇬🇹 GuatemalaLatin America
& Caribbean
🇰🇷 KoreaAsia1,045,100
🇨🇴 ColombiaLatin America
& Caribbean
🇭🇳 HondurasLatin America
& Caribbean
🇨🇦 CanadaNorthern America821,322
🇯🇲 JamaicaLatin America
& Caribbean
🇭🇹 HaitiLatin America
& Caribbean
🇬🇧 United KingdomEurope676,652
🇻🇪 VenezuelaLatin America
& Caribbean
🇧🇷 BrazilLatin America
& Caribbean
🇩🇪 GermanyEurope537,484
🇪🇨 EcuadorLatin America
& Caribbean
🇵🇪 PeruLatin America
& Caribbean
🇳🇬 NigeriaAfrica448,405
🇺🇦 UkraineEurope427,163
🇮🇷 IranMiddle East407,283
🇵🇰 PakistanAsia399,086
Rest of World11,637,634

Mexicans are followed in this ranking by Indians, Chinese, and Filipinos, though most immigrants on this list come from countries in the Latin American and Caribbean region.

On the other hand, only three European countries are among the top sources of U.S. immigrants: the UK, Germany, and Ukraine.

Immigration continues to be a significant factor contributing to the overall growth of the U.S. population. Overall population growth has decelerated over the past decade primarily due to declining birth rates.

Between 2021 and 2022, the increase in the immigrant population accounted for 65% of the total population growth in the U.S., representing 912,000 individuals out of nearly 1.4 million.

If you enjoyed this post, be sure to check out Visualized: Why Do People Immigrate to the U.S.? This visualization shows the different reasons cited by new arrivals to America in 2021.

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