EVs - Rivian Earnings release 😲🙅🏼🧨

Let's talk about some meme stocks today. I believe the ratio of investors holding meme stocks now is relatively low compared to few months ago. This is due to the fact that market is recovering and the big giants are performing pretty well recently. No much interests to focus on the memes as the risk reward ratio is not as attractive now. 

Earnings release

Well, there are a few meme stocks that are going to release their earnings result this week. The most notable one will be Rivian, one of the EV makers. 

Rivian stock price remains weak ahead of its fourth-quarter earnings result on Feb. 21st, after the closing bell, where investors would eye the EV maker's projections for 2024 amid consumer demand pressures in the industry.

The main concern is that softer demand trends could pose a profit risk, with slower volume growth making it harder for the company to achieve positive margins and cash flow.

Rivian share price

EV makers

Technical wise, the share is forming a bottom around 15-16 USD. However, I am more pessimistic on the incoming quarter report, therefore a bearish vote for Rivian. $Rivian Automotive, Inc.(RIVN)$ . The competition in EV is very challenging now and the profit margin is a key issue for every manufacturer due to price war. Similarly, I am bearish for the meme or Chinese EV markers like $Faraday Future Intelligent Electric Inc.(FFIE)$ $NIO Inc.(NIO)$  $XPeng Inc.(XPEV)$  $Li Auto(LI)$  

Electric Vehicles

Tesla and BYD are still the leaders

How do you see the EV future? Will you invest now or wait for the demand to be back? Come and join the discussion ya.

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