SMOG ETF Volume Surges 17x as Tesla Slumps

VanEck Low Carbon Energy ETF (SMOG) has seen unusual trading volume, which is 17× higher than its average daily volume.

Among its largest holdings, Tesla’s weaker-than-expected Q1 2026 vehicle deliveries and energy storage deployments have pressured the stock, with multiple analysts cutting price targets even as some highlight its long-term AI and robotaxi ambitions. In contrast, smaller holding Rivian reported a 20% year-over-year jump in deliveries, reaffirmed its full-year guidance, and drew more upbeat analyst commentary, with expectations that its execution on the R2 platform and recent Uber partnership could modestly support the shares despite a price-target trim from Goldman Sachs.