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EV companies are losing market share to legacy rivals, which could spell doom.
Most EV companies are still losing money despite valuations that indicate long-term profitable growth ahead. The problem for investors is legacy automakers gaining market share rapidly in 2024. Travis Hoium shows in this video that General Motors (GM 0.58%) and Ford (F 0.30%) are the growth players in EVs, not Tesla (TSLA 0.04%) or Rivian (RIVN 1.63%).
*Stock prices used were end-of-day prices of Jan. 7, 2025. The video was published on Jan. 7, 2025.
Travis Hoium has no position in any of the stocks mentioned. 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.
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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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