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Tesla's weak first quarter is terrible for smaller, money-losing competitors.
If Tesla (TSLA -0.05%) can't grow sales despite lowering prices, what chance does Rivian (RIVN -2.53%) or Lucid (LCID 1.34%) have in the EV market? In this video, Travis Hoium covers Tesla's terrible news and why it could have a big impact on Rivian and Lucid long-term.
*Stock prices used were end-of-day prices of April 3, 2024. The video was published on April 3, 2024.
Travis Hoium has positions in General Motors. 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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