History Says Tariffs Won't Save EV Stocks

By Travis Hoium – May 29, 2024 at 9:03AM

NASDAQ: RIVN

Rivian Automotive

Market Cap

$14B

Today's Change

(-1.83%) -$0.27

Current Price

$14.47

Price as of June 27, 2024, 4:00 p.m. ET

Tariffs didn't save wind and solar companies, and it won't save EV companies either.

Tariffs have been used as a tool to save U.S. industries before, and it doesn't often work out well for investors. In this video, Travis Hoium gives background on how solar and wind tariffs didn't help companies make money and how the same will likely play out in electric vehicles (EVs).

*Stock prices used were end-of-day prices of May 26, 2024. The video was published on May 28, 2024.

Travis Hoium has positions in First Solar and SunPower. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends First Solar. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link, they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.