So, if we’re shorting Tesla (TSLA), should we be buying Rivian (RIVN) and Lucid (LCID) right now? Well, if you’ve been with us for a while, you know our answer is yes.
We’re confident that these two companies will win significant market share as their production ramps and that the EV stocks will soar. Right now, Rivian is the more attractive of the two. It has the Amazon (AMZN) partnership. It’s very well-capitalized, and it’s ramping production nicely. Rivian is really firing on all cylinders here.
Now, when it comes to these two EV stocks, some investors are worried about company cash use. But remember: Lucid is backed by Saudi Arabia. The company could burn cash until the end of time, and the country will keep it afloat. And the same goes for Rivian – Amazon won’t let that darling go under, either.
Cash isn’t a concern here; production ramp is. Both companies are doing well, but Rivian is knocking it out of the park at the moment. And it’s likely that means we’ll see a TSLA repeat. Indeed, a few months after Model 3s took over the roads, TSLA stock went parabolic. Well, we’re seeing Rivians everywhere right now… You do the math. It’s time to pile into RIVN!
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.