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A lot has changed in the last month and a half in the EV industry, and EV stocks don't look as attractive as they once did.
In early January, Rivian (RIVN -3.34%) had become such a compelling stock that I started a position. But since then, Tesla (TSLA 2.00%) has started a price war in EVs, Rivian has begun layoffs, and the competition has taken big steps forward. In the video below, I discuss whether or not this position in Rivian is a mistake in hindsight.
*Stock prices used were end-of-day prices of Feb. 8, 2023. The video was published on Feb. 14, 2023.
Travis Hoium has positions in General Motors and Rivian Automotive and has the following options: long March 2023 $250 puts on Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool recommends 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.
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*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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