Better EV Stock: Rivian vs. Polestar
Many electric vehicle makers went public over the past two years. However, several also disappointed their early investors with ongoing delays, cancellations, and reduced production targets.
EV makers that went public by merging with SPACs (special purpose acquisition companies) also frequently presented bullish long-term forecasts before shipping a single vehicle. When investors realized they couldn't fulfill those promises, their shares collapsed. Rising interest rates exacerbated that sell-off by crushing speculative, unprofitable, and overvalued stocks.
Image source: Rivian.
Source Fool.com
