Need a new EV stock, $RIVN in mind.
$MULN has fallen. I think I got out at a pretty good time, didn't take as much of a loss as I expected after I found out about the companies true colors.
I still own $CYN, but they are working on the software behind EV, as well as focusing on industrial uses.
I am very interested in consumer driven electric vehicles. Something I have noticed is that every person I meet that owns a Tesla simply loves it.
But, lets be real, how many EV startups will actually end up making it in the long-run? $TSLA is a dominator at the moment, and many other auto manufacturers are starting to make their own electric vehicles, and making big promises on their future production of EVs.
$RIVN is a ticker that caught my eye back when they announced their IPO, seeing that the stock has tumbled since then doesn't look so good.
In the process of doing my own analysis, but a lil busy at work, so decided to post a little bit of my thoughts.
I own $GGPI (SPAC for Polestar, should be approved sometime this quarter). Polestar is backed by Volvo and Geely. Sold 29,000 cars in 2021 and is projecting 65,000 in 2022.
I personally am making my bet with $STLA. I believe they are one of the best positioned companies to grow with the EV market.
While they are a legacy car maker the strength of brands like Chrysler, Jeep, Ram, and Maserati I think will give them an incredible advantage with the average customer.
And the company has a massive pile of cash they are putting towards the EV market. I certainly wouldn't want to bet against them over the next 10 years.