2 EV Trends Tesla and Rivian Investors Should Understand Now
Shares of both (NASDAQ: TSLA) and Rivian (NASDAQ: RIVN) have struggled this year. Since 2024 began, Tesla stock has fallen 8% in value. Rivian shares, meanwhile, are down by roughly 25%.
What has gone wrong? Could this be a rare buying opportunity?
There are a few statistics EV investors must be aware of. The first is that the EV market continues to grow, even if growth rates move around quite a bit. Last year, for instance, EV sales in the U.S. jumped 60%, from 1 million in 2022 to 1.6 million in 2023. To put all this into perspective, in 2016, only 200,000 EVs were sold in the U.S. -- eight times fewer than the number sold annually today.
Source Fool.com
Tesla Inc Stock
€233.70
0.690%
Our community is currently high on Tesla Inc with 89 Buy predictions and 52 Sell predictions.
With a target price of 250 € there is a slightly positive potential of 6.97% for Tesla Inc compared to the current price of 233.7 €.
