Are EV stocks still good investments?
@pekss:
$Rivian Automotive, Inc.(RIVN)$ has been downgraded by analysts over its disappointing business outlook, as the EV maker is heavily reliant on its investor and sponsor Amazon that has fallen short of its orders in its plan to electrify its delivery fleet. The EV startup has so far not yet been able to generate sufficient operating cash flows, so that it has to continue depleting its cash reserves to sustain operations. However, with just under $8 billion cash balance today, it is projected that Rivian has only sufficient cash to last through another 3 years at most. Meanwhile, its Tesla-wannabe peer $Faraday Future Intelligent Electric Inc.(FFIE)$