Could Rivian Become the Next Tesla?
Believe it or not, Tesla (NASDAQ: TSLA) has been making electric cars for 10 years now. The electric vehicle (EV) trailblazer produced 2,600 vehicles in 2012, and its stock has returned more than 15,000% since then. Of course, it wasn't always smooth sailing, and the company flirted with bankruptcy along the way.
Tesla effectively created a market, making it easier for others to follow in its footsteps. There may not be another stock that matches those returns, but Rivian Automotive (NASDAQ: RIVN) is taking advantage of what Tesla created and is trying to mirror its results from a different approach. Rivian investors have heard nothing but bad news recently, but sometimes, that's the best time to buy into a stock.
Image source: Tesla.
Source Fool.com
