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After a $280 billion rally since late May, Tesla Inc. is using a trusted method for fueling further gains — a stock split. It may not pan out like that.

Even a breakthrough U.S. climate bill designed to encourage sales of electric cars has failed to revive investor interest in Rivian Automotive Inc., as the risk-hungry traders who catapulted its shares to dizzying heights last year shun companies for whom profitability is still years away.

The latest warning sign for U.S. stocks is emerging from a corner of the market that investors closely watch to get a read on the state of the economy and the health of American consumers: Transportation shares.

Self-driving technology companies are the latest automotive stocks to become an obsession of retail traders, with firms like Aurora Innovation Inc. surging Nov. 19 on high volume.

A searing five-day rally in the shares of Rivian Automotive Inc. has led the electric truck startup to more than double in value since last week’s trading debut, with its market capitalization now surpassing Volkswagen AG.

Tesla Inc. has joined the trillion-dollar-valuation club as the member with the lowest revenue.

Workhorse Group Inc. shares plunged Sept. 22 to their lowest since May after the embattled electric vehicle maker said it will suspend deliveries of its vans and recall units it has already delivered.

Troubled electric truck startup Workhorse Group Inc. has become the latest darling of retail traders, who have pushed its share price up 83% in just three trading sessions.

Nikola Corp. shares fell April 20 to the lowest since January 2019, accelerating a selloff that has now erased all their gains since the electric-vehicle startup went public last year.

Tesla Inc. first-quarter delivery numbers blew past analysts’ estimates, helping the stock fend off a slide in the broader electric vehicle industry amid growing skepticism about the future of President Joe Biden’s infrastructure bill.