Are EV shares still good buys?

With a share price lower than 10 cents, $Faraday Future Intelligent Electric Inc.(FFIE)$   had received a warning from the Nasdaq that if Faraday Future fails to maintain a minimum bid price requirement of $1 by 25 June, its securities may be subject to delisting. With a turnaround strategy to achieve profitability and defend shareholder values that seems to be empty talk with no convincing plans, I'm highly doubtful that its stock price would rocket in the next 2 months to comply with Nasdaq's listing rules, so I believe that it will just be a matter of time before the company will be delisted.

$Rivian Automotive, Inc.(RIVN)$  is not having an easy time too, as it has been downgraded by analysts due to its disappointing business outlook. There's also a concentration risk with its narrow customer base, as the EV maker is heavily dependent on its investor and sponsor Amazon which unfortunately has fallen short of its orders and failed to live up to its commitment to electrify its delivery fleet. The EV startup has so far not yet been able to generate sufficient operating cash flows, so that its cash reserve has continued to bleed in order to sustain operations. However, it is projected that Rivian has only sufficient cash to last through another 3 years at most.

A patchy economic recovery in China and looming deflation has led to softening domestic demands for new electric vehicles, as many potential customers tighten their belts and defer discretionary spendings. Prevailing price wars among the EV makers are not helping either, but have led to worsening margin erosion, weighing on the stock prices of the Chinese EV trio $NIO Inc.(NIO)$  , $XPeng Inc.(XPEV)$  and $Li Auto(LI)$  . Adding to their sorrows is a growing number of conventional car makers jumping onto the EV bandwagon, resulting in an EV supply glut. As the trio struggles to find enough buyers to sustain growth, the weak demands will continue to weigh on their stock prices.

@TigerStars @TigerEvents @TigerWire @CaptainTiger @VideoLounge @MillionaireTiger