Tesla stock increased by 7% while Rivian and Lucid saw declines due to political factors.

From Nasdaq: 2024-07-15 14:02:00

U.S. electric-vehicle stocks, including Tesla, Rivian, and Lucid, have seen shares rise by 50-60% in the past month due to company-specific reasons. Today, Tesla’s stock increased by 7%, while Rivian and Lucid saw declines. Political factors, including potential changes to EV tax credits, may be impacting stock movement.

Elon Musk’s endorsement of Donald Trump, along with potential tax credit changes, has led to market shifts. Despite this, investors should focus on long-term prospects for EV companies like Tesla, Rivian, and Lucid. Tesla’s upcoming earnings report and updates on self-driving technology will be key factors to watch alongside Rivian and Lucid’s quarterly reports.

Investors considering Tesla should note that it did not make the Motley Fool’s list of top stocks to buy now. The list, which has produced significant returns, offers guidance on building a successful portfolio. With a track record of outperforming the S&P 500, the Stock Advisor service is a valuable resource for investors.

Howard Smith holds positions in Lucid Group, Rivian Automotive, and Tesla, with certain options. The Motley Fool also holds positions in Tesla and Volkswagen Ag. Keep in mind that the author’s views may differ from Nasdaq, Inc.’s opinions.



Read more at Nasdaq: Why Tesla and Rivian Stocks Went in Opposite Directions Today