Is Tesla's Pain Rivian's Gain?
The leading electric vehicle company is struggling, as its CEO just started feuding with the president of the United States.
Tesla (NASDAQ: TSLA) has been on a tough path the last few years. It keeps losing share in its key markets around the globe, especially in the United States, a trend that looks set to continue even though it has slashed prices on its best-selling electric vehicles (EVs).
Now, CEO Elon Musk has started publicly debating with President Donald Trump, and it is unclear whether this feud will truly affect Tesla's business. But it will definitely not be a positive development since taking political sides will inevitably alieniate a large customer cohort. It's a sceario that can cut both ways.
Regardless, the company has already experienced much financial pain the last few years. At the same time, other EV stocks, such as Rivian Automotive (NASDAQ: RIVN), have stayed stuck in the mud. Its shares are down over 90% from all-time highs and trade below $15.
