How Tesla's Record Earnings Impact Lucid and Rivian

The old saying that the U.S. stock market goes up more than it goes down but goes down faster than it goes up couldn't be truer. In a little over three years, we've seen three major sell-offs that all transpired in a matter of weeks. They are the U.S.-China trade war sell-off in late 2018, the COVID-19 pandemic induced sell-off in March 2020, and now the current sell-off.

Despite reporting record earnings after market close on Wednesday, Tesla (NASDAQ: TSLA) and other electric car companies like Lucid Group (NASDAQ: LCID) and Rivian Automotive (NASDAQ: RIVN) saw their stock prices tumble on Thursday and Friday. Here's how Tesla's results and management's commentary affect Lucid and Rivian.

Image source: Tesla.

Source Fool.com