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CNBC in America has reported on “an ugly month” for a key electric vehicle and self-driving ETF.

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EV and self-driving stocks suffer big fall in Sept 22

CNBC in America has reported on a key exchange traded fund (ETF) for electric vehicle (EV) and self-driving stocks suffering “an ugly month” in September.

On Friday 30 September, the Global X Autonomous and Electric Vehicles ETF closed 37% off the group’s 52-week high. 

CNBC said: “It was the second worst-performing month for the group on a percentage basis on record, behind only March 2020 when the overall stock market saw dramatic declines.”

Self-driving stock

CNBC re EV and self-driving stocks Sep 2022
CNBC re EV and self-driving stocks Sep 2022

Global X says the DRIV fund offers high growth potential, noting that: “While global EV registrations increased by more than 40% in 2020, EVs were still less than 5% of new cars sold, highlighting substantial room for further adoption.”

The top 10 holdings (as of 10/04/22) were:

  1. Tesla 
  2. Apple 
  3. Microsoft 
  4. Alphabet 
  5. Qualcomm 
  6. Toyota 
  7. Nvidia 
  8. Intel 
  9. Pilbara Minerals 
  10. Honeywell 

At Cars of the Future, we suspect the falls have more to do with the EV side and assisted driving than true self-driving… but rumours of a global recession don’t help!


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Author: Neil Kennett

Neil is MD of Featurebank Ltd. He launched in 2019.