One of the main electric and autonomous vehicle ETFs has seen its worst two weeks since launch falling 15% as fears of recession start to wane on the automotive industry. The Global X Autonomous and Electric Vehicles ETF (DRIV) ended Friday sitting around $20, almost 40% shy of their 52-week high. DRIV’s top three holdings are Tesla Inc (TSLA) 3.55%, Apple Inc. (AAPL) 3.07%, and Microsoft Corporation (MSFT) 2.95%.
ETF Newz Says:
The future is unclear on whether or not another interest rate hike will come which would increase the cost of the vehicles.