Tesla's stock pullback weigh on other EV makers, with less effect

Green Brick Partners Inc

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Company profile

Green Brick Partners, Inc. operates in the real estate industry. The Company operates through two segments. The builder operations segment includes its controlled builders results, which include building and selling single-family detached homes and townhomes that are designed and built to meet local customer preferences, and the sale of lots. Builder operations consist of three operating segments: Texas, Georgia, and corporate and other. Corporate operations segment develops and implements strategic initiatives and supports its builder operations and land development by centralizing certain administrative functions, such as finance, treasury, information technology and human resources. The land development segment includes operations related to the acquisition and development of land, which is sold to its controlled builders and third-party homebuilders. As of December 31, 2016, it had owned or controlled over 5,200 home sites in various locations in the Dallas and Atlanta markets.

Tesla's stock pullback weigh on other EV makers, with less effect

8:55 am ET September 3, 2020 (MarketWatch) Print

The sharp pullback in Tesla Inc.'s stock (TSLA) continues to weigh on the shares of other electric vehicle makers, but with less effect. Tesla's stock dropped 6.7%, putting it on track for a third-straight loss, after losing 11.4% over the previous two sessions (http://www.marketwatch.com/story/teslas-stock-sinks-into-correction-territory-after-disclosure-of-another-large-seller-2020-09-02), after the EV leader disclosed plans to sell shares, and after a large shareholder reduced the number of shares it held. China-based rival Nio Inc.'s stock (NIO) was headed for a second-straight loss (http://www.marketwatch.com/story/nio-other-ev-maker-stocks-fall-as-tesla-extends-pullback-2020-09-02), as it slipped 1.9% ahead of Thursday's open after declining 1.1% on Wednesday. Shares of Workhorse Group Inc. (WKHS) eased 0.3% premarket after shedding 6.0% on Tuesday, while Nikola Corp. (NKLA) fell 1.6% after losing 3.9% on Wednesday. The declines comes as futures for the S&P 500 were down 0.3%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

September 03, 2020 08:55 ET (12:55 GMT)