On January 21, we decided to assemble a live Google Sheet including all of the electric vehicle -- and related technology -- stocks that had come to market over the past year.

Upon completion of the document, it was clear the entire thing was bonkers. Companies with no revenues, and no working products, were sporting multi-billion dollar valuations. While old-school automakers with viable electric vehicles like Ford and General Motors were struggling to command a valuation at a single digit multiple of earnings.

Well, don’t say we didn’t warn you. Crack:

At pixel, the entire EV space is collapsing. Tesla is down 11 per cent, Chinese competitor Nio 13 per cent, and so on, and so on. Just click on the sheet, its a vast wash of red. Total market cap loss since the top stands at an astonishing $730bn. Gone in little over a month. Just like that.

The only question left is, when’s the bottom? Well given the old school automakers trade at 0.6 times revenues, versus 14.4 for the cool electric vehicle kids, we might only be getting started.

Broken clock jibes welcome below as always.

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