After a 21% crash in one day a lot of people are bearish on Tesla suddenly. The issue is, they're not looking long term enough. Of course we are not giving investment advice and it's just our opinion, but let's look at any bubble. You'll see a ton of speculation followed by a crash. But even the top stake holders who got out of Tesla in this crash are saying they're just waiting to buy back in at a lower price. The price of Tesla shares went from about $39 to $440 in a year.
Meanwhile, Nikola and Rivian are getting huge money from the old guard auto players. GM is investing huge in Nikola and Ford has been on and off with their announcements of partnership with Rivian. They're clearly trying to push Elon Musk out of the market. The competitors have a fighting chance though. There's obviously room for more than one electric car manufacturer.
We will continue to cover this issue as it plays out.