Tesla (TSLA -1.41%) 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 2.73%), Lucid Group (LCID 0.17%), Nio (NIO 0.75%), and Canoo (GOEV 8.31%).
*Stock prices used were from the afternoon of April 24, 2023. The video was published on April 25, 2023.