For Tesla, the year 2022 passed like a nightmare. Tesla, one of the biggest names in the electric car world, is having a hard time with the collapse of its share values. So, while Tesla, one of the largest electric car companies, is having troubled days, how are its competitors?
Tesla shares fall, Rivian and Lucid have tougher days
We all remember the historical collapse in Tesla shares closely. On the other hand, the situation in smaller electric car companies is much more dire. Tesla closed last year with a 69 percent loss, while other electric car companies’ stock values have fallen by 90 percent.
Shares of Rivian and Lucid, the leading electric car manufacturers, have fallen significantly over the past year. While Rivian lost approximately 90 percent of its value, this rate was 86 percent for Lucid. Investors seem to have stayed away from these companies as companies struggle to increase vehicle production amid supply chain woes.
The low performance of Tesla shares last year is thought to have a negative impact on other electric car manufacturers. At the same time, the supply problems experienced after the pandemic affected the companies very negatively.
With Tesla shares increasing by 740 percent in 2020, investors turned their eyes to electric car manufacturers. Some companies seen as potential ‘Teslas’ reached billions of dollars in a short time in this process. It would not be wrong to say that these companies, which rose with the success of Tesla, fell with the negative numbers of this company.
For example, Lucid, which went public in 2021, managed to reach a value of $ 153 billion after just a few days. Rising interest rates and recession fears over the past year have reduced the risk appetite of investors, causing them to avoid unprofitable companies with high growth prospects. Rivian is currently valued at $14.8 billion, while Lucid is worth $13.7 billion.
Even Tesla, which announced a profit last year, could not escape this decline, while smaller companies are having greater difficulties with their share values. So what do you think about new electric car manufacturers and the investment in them? You can share your views with us in the comments section.