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
Shades of the crash of the 2000 “tech bubble” when many tech stocks lost 90% to 99% of their pre-bubble value and many companies went out of business.
Now the 2024 “EV bubble” is crashing down the exact same way.