After a Massive Bankruptcy, EV Stocks Are in Trouble

By Travis Hoium – Jun 25, 2024 at 6:08AM

NASDAQ: RIVN

Rivian Automotive

Market Cap

$14B

Today's Change

(-7.53%) -$1.09

Current Price

$13.38

Price as of June 28, 2024, 1:58 p.m. ET

EV stocks are still highly valued despite losing money, and the market is losing patience.

The bankruptcy of Fisker is a warning sign to electric vehicle (EV) investors. It's becoming harder and harder to make money selling EVs, and the companies that haven't reached profitability yet are facing the daunting task of surviving a market demanding profits. In this video, Travis Hoium highlights why this is worst for companies like Rivian (RIVN -7.53%) and Lucid (LCID -2.81%) that don't have the demand or economics to survive long term.

*Stock prices used were end-of-day prices of June 22, 2024. The video was published on June 24, 2024.

Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends General Motors and recommends the following options: long January 2025 $25 calls on General Motors. 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.