For the would be stock investor, consider this:
In late 2021 the combined market value of five prominent Tesla wannabes neared a stonking $400bn.
Today the five are worth $69bn, and falling !
Fisker, an eight-year-old American firm, and HiPhi, a five-year-old Chinese one, have paused production. On March 25th a crumbling share price caused the trading of Fisker’s shares to be suspended and the firm may soon be delisted. HiPhi may be looking to sell itself to a big established Chinese carmaker
Even government subsidies can’t make it happen. That’s why we’ve got incoming mandates I guess.
Because somehow our constitution allows the government to decide what we can and cannot buy. Right?
China’s gonna flood the EV market with self igniting death traps, this killing EVs forever. You go China!
Lorstown Motors....
Fisker....
Two that I know that went bankrupt recently...
And if you want to see an ugly stock chart, look at Work Horse motors (WKHS).....
40 dollars a share in Feb 2021...now 20 cents a share.
Rivian opened at 129 a share at its IPO....now three years later, 9 bucks a share.
Safe to say..the bottom seems to have dropped out on the EV market like baseball cars in the 1980s or cannabis stocks from a few years ago.
Im wondering if the AI craze is next?
Showing the value of those companies with what little they sold just shows the stock market is corrupt.
Meanwhile, the Tesla market value exceeds GM or Ford or Stelantis all of which have thousands of cars they can’t sell, even at auction.
Ford stock is a capitalist joke.