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
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 242 € shows a positive potential of 46.45% compared to the current price of 165.24 € for Tesla Inc.
