What's the bull case for EV stocks?
Tesla announced another $5,000 in price cuts in China. I feel like a broken record, but there's a supply/demand imbalance in EVs and it's not getting better anytime soon.
EV stocks were valued highly because investors thought $Rivian Automotive, Inc.(RIVN)$ $Lucid Group Inc(LCID)$, etc could replicate $Tesla Motors(TSLA)$ 's 20%+ margins.
Now, TSLA's margins are similar to legacy autos and falling.
Growth is slowing and Chinese competitors are pushing a price war.
What's the bull case for EV stocks?
Rivian has $9.4 billion in cash, but this rate of cash burn won't allow the company to get to 2026 when R2 launches.
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https://twitter.com/TravisHoium/status/1764628566845575393
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