Looking at EV Stocks for the Next Tesla? Avoid This Huge Mistake.

By Jason Hall – Apr 25, 2023 at 5:03AM

NASDAQ: TSLA

Tesla

Market Cap

$574B

Today's Change

(-3.48%) -$6.49

Current Price

$180.11

Price as of May 22, 2024, 4:00 p.m. ET

Investors are probably making things a lot harder than they need to be to get good returns.

Tesla (TSLA -3.48%) has been a life-changing winner for some investors. EVs are changing the auto industry permanently. But history tells us investors chasing the next Tesla are probably making a big mistake that will cost them. In this video, Motley Fool contributor Jason Hall breaks down why chasing the next Tesla -- just like chasing the next Meta Platforms, Netflix, or Starbucks -- didn't lead to big returns. Also discussed: Rivian (RIVN 6.47%), Lucid Group (LCID 1.76%), Nio (NIO -0.19%), and Canoo (GOEV -1.16%).

*Stock prices used were from the afternoon of April 24, 2023. The video was published on April 25, 2023.

Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Jason Hall has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Meta Platforms, Netflix, Nio, Starbucks, and Tesla. The Motley Fool recommends the following options: short April 2023 $100 calls on Starbucks. The Motley Fool has a disclosure policy. Jason Hall 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.