Will you speculate in meme stocks?
Most of the Tiger friends are familiar with the meme stocks like$Faraday Future Intelligent Electric Inc.(FFIE)$ $AMC Entertainment(AMC)$ etc. Particularly, one of the most recent popular meme stocks is FFIE, which experienced more than 30x rally from ~$0.06 to ~$1.80. However, its cash balance is running low and it might be the next potential EV company to bite the dust.
The rise of various EV companies has resulted in price war to fight for larger market share. Furthermore, the competition in the EV market has intensified as numerous traditional car markers (Mercedes-Benz, BMW etc) are also investing and building more EV units. Several established car companies are slashing their production to cater to weakening demand for new cars.
To add on, there's development of hydrogen-based engine to compete with the EV industry. New disruptive technologies are being developed to challenge the EV industry and only time will tell which is a more environmentally friendly and viable technology. $XPeng Inc.(XPEV)$ $Tesla Motors(TSLA)$ $NIO Inc.(NIO)$
What do you think? Let me know your thoughts!
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