The stock market is making new all-time highs seemingly every day. Over the past 12 months, the Nasdaq Composite is up 33.8%, but it hasn't been a good time for most electric vehicle (EV) investors.

Tesla (NASDAQ: TSLA) is down 4%, and Rivian Automotive (NASDAQ: RIVN) is down more than 19% over that same time frameNAS. Year-to-date doesn't get any better, as the Nasdaq is up 5.1%, while Tesla is down 19.5%, and Rivian is down 30.5%.

Let's look at what is holding these companies back, and what needs to happen to turn things around.

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Source Fool.com