Forget Tesla: This Electric Vehicle (EV) Company Proved Its Stock Is a Better Buy Now
There's no question (NASDAQ: TSLA) has been a great investment over the past five years as it built its leading electric vehicle (EV) business. The stock still has the potential to be a great investment from here over the long term.
But there's another EV name that could follow a similar trajectory in coming years as Tesla has over the last half-decade. For investors looking for faster growth, Rivian (NASDAQ: RIVN) may be the right EV name to look at right now.
One only has to look at Tesla's growth history to see some similarities -- and interesting differences -- to Rivian's current business. Prior to Tesla launching its higher-volume Model 3 offering, it delivered about 75,000 Model X and Model S vehicles in 2016. Investors valued Tesla with a market cap of around $30 billion at the end of 2016. Tesla then increased its Model X and S sales by 33% year over year in 2017 to more than 100,000 units.
Source Fool.com
Tesla Inc Stock
Our community is currently high on Tesla Inc with 74 Buy predictions and 28 Sell predictions.
With a target price of 248 € there is a slightly positive potential of 15.64% for Tesla Inc compared to the current price of 214.45 €.
