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Surging Oil Prices Puts Tesla in a Strong Position

Supply chain issues trigger sell-off in EV start-ups. Tesla remains the number one bet in the EV segment for investors.

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Surging Oil Prices Puts Tesla in a Strong Position

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  1. Surging Oil Prices Puts Tesla in a Strong Position The soaring of crude prices and, along with it, the price at gas pumps has made investors bet on electric vehicles, with Tesla Inc. being their only choice. The recent slump in EV stocks had made Tesla, the world’s largest electric car maker and industry leader, ahead of its others start-up challengers. The impact of surging oil prices The divide was apparent when the two biggest publicly traded EV start-ups in the U.S., Rivian Automotive and Lucid Group, saw a massive sell-off in their stocks after disclosing supply chain disruptions. Surging oil prices have made electric cars more attractive, with the U.S. President calling for greater adoption of EVs. But oil is not the only issue. The Ukraine war has upset the supply chain, and with Fed about to raise interest rates, investors are careful about risk and closely scrutinize EV companies that are not profitable.

  2. With not enough options in the EV Segment, Tesla remains the only viable business as Chief strategist at Interactive Brokers LLC, Steve Sosnik. He says that all others are concept stocks. As per Bloomberg News, last year, Lucid and Rivian sold 1000 EVs combined compared to nearly a million vehicles sold by Tesla. A few months ago, Rivian was touted as the next Tesla in the making with a market value more than Ford Motors. However, last week’s disclosure by the Electric Pickup Truck maker that it was raising its prices due to higher input costs due to shortage in components resulted in the stock price plunging by 30% between Tuesday and Friday. You can read the full content: https://businessupside.com/2022/03/06/surging-oil-prices-puts-tesla- in-a-strong-position/ -------------------------- Business Upside Email ID: support@businessupside.com Phone No.: +1-425-605-0775 Visit Us: https://www.businessupside.com/ Stay Connected Via: https://www.facebook.com/businessupside https://www.youtube.com/channel/UCuSkeS5oU- B2tRIBDYntmaw https://twitter.com/BusinessUpside1

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